NEW YORK , Dec. 9, 2024 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Altair Engineering Inc. (NASDAQ: ALTR)'s sale to Siemens for $113.00 per share in cash. If you are an Altair shareholder, click here to learn more about your legal rights and options . Mid Penn Bancorp, Inc. (NASDAQ: MPB)'s merger with William Penn Bancorporation. If you are a Mid Penn shareholder, click here to learn more about your rights and options . Avid Bioservices, Inc. (NASDAQ: CDMO)'s sale to funds managed by GHO Capital Partners LLP and Ampersand Capital Partners for $12.50 per share in cash. If you are an Avid shareholder, click here to learn more about your rights and options . AeroVironment, Inc. (NASDAQ: AVAV)'s merger with BlueHalo LLC. Per the terms of the proposed transaction, AeroVironment will issue approximately 18.5 million shares of AeroVironment common stock to BlueHalo. Upon closing of the proposed transaction, AeroVironment shareholders will own approximately 60.5% of the combined company. If you are an AeroVironment shareholder, click here to learn more about your legal rights and options . Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com . Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. (212) 763-0060 sadeh@halpersadeh.com zhalper@halpersadeh.com https://www.halpersadeh.com View original content to download multimedia: https://www.prnewswire.com/news-releases/shareholder-investigation-halper-sadeh-llc-investigates-altr-mpb-cdmo-avav-on-behalf-of-shareholders-302326334.html SOURCE Halper Sadeh LLPWant to locate the source of an image, verify its authenticity, or find related images? Then, you may wish to do a reverse image search. With the rise of AI, this has become much easier. I tested over 20 modern solutions and narrowed down 10 of the best reverse image search tools. Here’s everything you need to know: Lenso.ai is my current go to reverse image search tool . It enables you to search for people, places, duplicates, similar, or related images. By analyzing key features, lenso.ai performs image searches with high accuracy and presents only relevant results. Moreover, its keyword and domain filter options let you refine your search for more precise results. The platform’s sorting options also help you quickly find the best and worst match, newest and oldest images, or random ones. Additionally, if you perform an in-depth search, you can save images to Collections for further reference or create Alerts for specific images and get email notifications when new image results come up. Check below for more on how to use lenso.ai effectively. Why Choose lenso.ai? Try lenso.ai TinEye is a long-running reverse image search engine that helps users find the origins of images online. It also helps identify modified versions , higher-resolution versions, and similar images. TinEye lets you search using images instead of keywords , creating a unique digital signature for each image. It then matches this with other indexed images. It boasts over 52 billion indexed images , giving you a high chance of finding exact or similar images. Moreover, it uses image recognition algorithms to identify even heavily edited versions of the original image. As well as uploading an image, you can provide an image URL to conduct your search. Why Choose TinEye? Try TinEye Another specialized reverse image search tool is Image Raider. It’s offered by Infringement Report and is mainly intended to find images that are infringing on copyright law. Nonetheless, it functions like most reverse image search engines. You can simultaneously search for images on Google, Bing, and Yandex, providing a broader range of search results . You can perform batch searches , allowing you to upload 20 images at once. Furthermore, you can specify a specific region to search within, such as worldwide, North America, or Europe. Image Raider stores your search history , allowing you to revisit previous searches or keep track of your reverse image search activity. You can also download all the images from their search results with a single click. Why Choose Image Raider? Try Image Raider The reverse image search tool by SmallSEOTools lets you upload an image or enter an image URL to find similar images and their sources across multiple search engines. It uses Bing, Yandex, and Google, so you can draw from a large pool of images online. Plus, you can enter a keyword related to your image to narrow down the results. To upload an image, it has a simple drag-and-drop interface and you can also source images from Dropbox and Google Drive. Its Pro version offers a higher search limit, no ads, and batch uploads. Why Choose SmallSEOTools? Try SmallSEOTools Reverse Image Search Formerly Image Match, Bing Visual Search is Microsoft’s own reverse image search tool. It searches for similar images and related information by using an image as the input . You can take a photo directly on the platform , paste a URL, or upload an image via drag-and-drop. The tool provides related search suggestions based on the content of the input image, helping you discover more relevant information. It also recognizes product images and provides links to websites where you can purchase the product or find more information about it. I like that on the homepage it offers numerous shortcuts, such as identifying dog breeds or pinpoint location . I.e., if you have an image of a landmark but don’t know where it is in real life. Why Choose Bing Visual Search? Try Bing Visual Search If you are a Pinterest user, then its Visual Search and Lens tools can help you find visually related images and content on the platform. The process involves uploading an image or choosing one from Pinterest itself. You can search for images with similar visual characteristics, making it easy to discover new ideas and inspiration. Moreover, it offers related pin suggestions based on the content of the input image. It can also be used in conjunction with Pinterest Lens, which enables you to search for related content by taking a photo or screenshot with your device. Results align with your account history for a tailored experience and results include shoppable pins, which allow you to purchase products . Why Choose Pinterest Visual Search? Try Pinterest Visual Search I couldn’t make a best reverse image tools list without mentioning Google Images. While its main function is to simply search for images by keyword, you can certainly do reverse searches too. All you have to do is click on the camera icon in the search bar to open Lens, then upload an image from your device or provide an image URL to initiate the search. It works by using advanced algorithms to analyze the visual content of the input image, including its colors, shapes, and patterns. The search engine then compares the input image to its vast database of indexed images to identify similar images or related content. In addition to finding visually similar images, Google Lens can also help users identify the source of an image and locate higher resolution versions. Why Use Google Lens? Try Google Lens Similar to Google Lens, Russian search engine Yandex has a visual search feature that’s perfect for reverse image searches . Its powerful technology can identify source images and similar images even when the original has been modified, cropped, or resized. It also provides additional sizes of the same image, making it easier to find the best resolution for their needs. When you upload an image or enter an image URL , Yandex analyzes the visual content of the image. It then ranks results based on their similarity to the input image. Visual Search also provides related content , such as web pages where the image appears. Why Choose Yandex Visual Search? Try Yandex Visual Search CopySeeker is powered by AI and analyzes the pixels of your image to find duplicates and similar images online. You can search via image URL or by uploading an image. Results are shown in a list based on page rank and it identifies the original source with a symbol. This is useful for determining the copyright status of the image or if your own image has been stolen. Depending on the image, you also get additional info such as the date, location, and the organization or individual that created the image or photo. Why Choose CopySeeker? Try CopySeeker FaceCheck.ID takes a slightly different approach to reverse image searching by focusing on people, rather than general images. It uses advanced AI technology to locate people online . By uploading a photo or providing an image URL, you can search for individuals across various sources like social media, news articles, blogs, and videos. Its database contains over 793 million faces and results are displayed with a useful confidence score from 0 to 100. warning indicators appear above search results to alert you of potential concerns, such as known criminals, scammers, and predators. The drag-and-drop interface supports batch uploads , though this is intended for the same person. Why Choose FaceCheck.ID? Try FaceCheck.ID DNSChecker.org also offers a powerful reverse image search tool. It’s powered by major search engines such as Google, Bing, and Yandex. You upload your image or paste a URL and add related keywords . It then uses the image recognition capabilities of these search engines to compare the input image to their respective databases of indexed images. It’s useful for finding the source of an image , related images, and relevant non-image info. The main drawback is it’s much slower than the likes of Lenso.AI or going to Google or Yandex themselves. Why Choose DNS Checker Reverse Image Search? Try DNS Checker Reverse Image Search As my top pick, here’s how to get the most out of lenso.ai for reverse image searching . 1. Goto lenso.ai and drop, paste, or click to upload your image. 2. Agree to the terms and proceed with the search .3. On the results page , you will find duplicates and their sources at the top, related images in the middle, and similar images at the bottom. 4. You can save the search or apply a filter with the buttons below the original image. 5. To sort results , click Show more on a category such as “Duplicates” and click the sort button . 6. To create an alert , go back to the category and click the Alert button . All reverse image search tools have their own pros and cons. However, as an all-round solution, lenso.ai takes the top spot with its powerful search, filtering, sorting, and alert features. TinEye is also a popular choice. And while individual search engines offer their own tools, many third parties combine them into one tool. What’s your favorite reverse image search tool? Let me know in the comments below.What’s at stake for student loan borrowers during next Trump administrationStudents Urged To Pursue Skills Training At HEART/NSTA Trust

The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed.Earlier this year, the San Francisco Bay Ferry launched the MV Sea Change. Traveling to the city from the East Bay, it is the first zero-emission commercial ferryboat powered only by hydrogen fuel cells. It is a shining glimmer of hope on the horizon. Sea Change is the first ferry with drinkable emissions. It releases water vapor, which gets remineralized into drinking water passengers can drink onboard. This should be just the start for California’s transportation system. Our gasoline-based buses should be next in line for “green” possibilities. Starting when I was 12 years old, my parents would drop me off at the Larkspur ferry terminal or the San Rafael Transit Center to venture into San Francisco with my friends. I spent hours riding these nearly empty buses and ferries, allowing for beautiful sightseeing sprawled out over empty rows of seats. However, my short maritime and bus journeys weren’t just an exercise of independence. These underutilized vessels of Marin public transport emphasized a problem, a poorly executed means of transportation with worsening emissions. Studies show that, in many ways, Marin is the least accessible county among the five counties in the core Bay Area. With limited buses struggling to connect, only two lines servicing the Marin-to-San Francsico route and hard-to-access ferry terminals, many Marin residents feel forced to own personal vehicles. This exacerbates an increase in traffic congestion and carbon emissions. For many, gridlocked rush-hour commutes from San Francisco take nearly an hour when it should take just 20 minutes. Traffic jams are frequent with nearly empty carpool lanes, yet this is not due to some lack of environmental care. As one of the wealthiest counties, it is no surprise that Marin has one of the highest rates of electric vehicle ownership in the whole country. Our EVs comprise almost 6% of our registered cars. Each parking lot is flooded with an array of Teslas and Priuses. Marin County now has more electric vehicle chargers than gas stations. We pride ourselves on taking extra steps to be more environmentally conscious. However, our organic, locally sourced produce and compost bins aren’t enough to battle the gas-guzzling, inefficient public transport on the streets. Despite our high level of EVs reflecting our commitment to sustainability, our public transportation is behind. We prioritize investing in the latest Tesla models, yet Marin Transit has only six electric buses (according to last year’s “rollout” report). We could drastically reduce our carbon footprint by allocating some of our personal EV spending toward public transportation. Electrifying our buses and ferries will create a more sustainable system, lowering the carbon footprint per passenger by almost 50%. Sea Change demonstrates the potential to implement innovative green technology into California’s public infrastructure. Similarly, California’s high-speed rail project is designed to be environmentally sustainable, revolutionizing green transit innovation. We can’t keep making excuses. Our public transit system lags miles behind. While we have spearheaded the future of EV ownership, we have to broaden our activism to our busing system. The time has never been more pressing. We need to keep setting a precedent for the standard of land transportation. California isn’t just revolutionizing the convenience of electric personal vehicle ownership; it’s reinventing public transportation systems and inspiring cities across the country. I encourage everyone to reach out to Rep. Jared Huffman, our elected official in the House, and Amy Changchein, our deputy regional administrator for the Federal Transit Administration. Both are pushing for greener public transit in Marin. Show your support and let them know that our priority for eco-friendly transportation will help enact change. And, if you live in San Rafael, let your City Council representative know that you support Marin Transit’s plan for a new EV bus yard in the Canal neighborhood. We are fighting for change for our country and planet, so let’s get down to business in our cities, where it all starts. Let’s not let an eco-friendly ferry be the end of change. We can chart a new course. Liora Homa, who grew up in San Rafael, is a student at Cornell University in Ithaca, New York.

Poonawalla Fincorp CTO steps down after "harassment" from HR head; read resignation mail sent to the company's MDNEW YORK, Dec. 08, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Light & Wonder, Inc. (NASDAQ: LNW) resulting from allegations that Light & Wonder may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Light & Wonder securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=29678 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. WHAT IS THIS ABOUT: On September 24, 2024, the Las Vegas Review-Journal published an article entitled “Slot manufacturer scores major win against Las Vegas-based rival.” It stated that “Aristocrat Technologies Inc.’s request for a preliminary injunction in its trade-secret and copyright infringement lawsuit against Light & Wonder” had been granted, and that the “order prohibits [Light & Wonder] from the ‘continued or planned sale, leasing, or other commercialization of Dragon Train,’ which Aristocrat claims uses intellectual property developed for its Dragon Link and Lightning Link games.” On this news, Light & Wonder common stock fell 19.49% on September 24, 2024. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com

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Choosing the right camera for landscape photography often comes down to balancing image quality, portability, and usability. Full frame and Micro Four Thirds systems both have their strengths, but how do they hold up in real-world shooting conditions? This comparison puts two Panasonic cameras—a 47-megapixel S1R and a 20-megapixel GX9—through their paces to see how they fare. Coming to you from , this detailed video compares full frame and Micro Four Thirds cameras in a practical landscape setting. Friend tests the and side by side in various scenarios, starting with a waterfall at Cauldron Falls. Using rocks as foreground interest and a centered composition, the goal was to emphasize the waterfall with a long exposure. Despite the S1R’s ability to shoot at higher f-numbers without diffraction issues, the GX9 held its own, especially considering the resolution limitations of social media where most photos are shared. Another key test took place at Winskill Stones, a striking limestone area with a single photogenic tree. With flat lighting and gray skies, Friend opted for black-and-white compositions, simplifying the scene with square crops. While the S1R offered better usability with its larger viewfinder and more robust grip, the GX9’s compact size proved advantageous for portability. The comparison highlighted how both cameras excel in specific ways, depending on what you prioritize—image quality or ease of use. Friend also tackled the weight and handling of the two systems during his hike to Twistleton Scars. While the S1R’s durability and ergonomics made it a reliable choice, its hefty weight posed challenges on longer treks. The GX9, despite a small mishap involving a tripod fall, demonstrated impressive durability. Its lightweight build made it a strong contender for photographers looking to travel light without sacrificing too much image quality. The video emphasizes that both systems have unique advantages. Full frame cameras like the S1R offer higher resolution and better low-light performance, making them ideal for serious landscape work. Micro Four Thirds systems, on the other hand, shine in portability and convenience, particularly for casual outings or when weight is a concern. Friend’s tests reveal that neither system is inherently superior; the right choice depends on your needs and shooting style. Check out the video above for the full rundown from Friend. Alex Cooke is a Cleveland-based portrait, events, and landscape photographer. He holds an M.S. in Applied Mathematics and a doctorate in Music Composition. He is also an avid equestrian.None

ABUJA – The Nigerian Meteorological Agency (NiMet), and the Nigeria Governors’ Forum (NGF), are to strengthen their collaboration in the interest of Nigeria’s continued socio-economic development. Speaking at a meeting at NGF’s Office in Abuja at the weekend, the Director General and Chief Executive Officer of NiMet, Professor Charles Anosike, said that a formal relationship between the NGF and NiMet is in the best interest of the country as it will benefit the people. “It’s no longer news that we are seeing increasingly weather events that are affecting our communities. Every year we count losses of the number of our people that have been killed, families and communities displaced, and the economic damages. These extreme weather events also trigger human trafficking, disease outbreaks, and other negative impacts”. Professor Anosike said that NiMet and NGF believe strongly that something should be done to mitigate the impact of climate change, and would sign a Memorandum of Understanding (MoU) to guide their relationship. “If we can proactively collaborate and coordinate our activities, we should be able to reduce the impact of climate change. This is why NiMet has come to the NGF. Our collaboration will ensure that weather and climate information get to the last mile – the Nigerian people”. Prof. Anosike said that weather and climate information are critical to the sustainable economic development of our people. “Early warning systems are systematic activities that will ensure that weather and climate information get to the Nigerian people and to the vulnerable to ensure that they would be able to respond accordingly. Not reactively, but proactively. Early warning saves lives but for it to work effectively, synergistic leadership has to be demonstrated by all the relevant stakeholders”. He also said that NiMet’s Seasonal Climate Prediction (SCP) is an early warning tool in support of the United Nations Early Warning for All (EW4ALL) initiative championed by the WMO. “The forecast is a painstaking and rigorous scientific exercise that involves the utilization of global and regional models and other atmospheric drivers with strong teleconnection with our region to arrive at the outlook”, he concluded. On his part, the Director General of the Nigeria Governors’ Forum, Alhaji Abdulateef O.T. Shittu, said that climate change is impacting economic well-being nationally and globally. “NiMet is a critical federal government agency, hence the NGF has agreed to sign a memorandum of understanding (MoU) with NiMet so that we can support and partner with them to implement all the climate change initiatives that the agency has in the interest of the Nigerian people. “Climate change is all about mitigation and adaptation. We have discussed a lot about that and what needs to be done. We have to face the reality of climate change and see how we can mitigate it, especially about preventing food shortages and ensuring food security. These are critical”.

Even when Milwaukee opened the season by losing eight of its first 10 games, Bucks coach Doc Rivers knew it was only a matter of time before his team returned to form. Sure enough, the Bucks have won four of their last five games heading into an NBA Cup matchup against the visiting Indiana Pacers on Friday. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Far-right populist looks set to enter runoff in Romanian presidential electionIrvine electric-vehicle maker Rivian has received conditional approval for a federal loan of up to $6.6 billion that would help fund construction of a Georgia plant where it could manufacture smaller and more affordable SUVs. The company said late Monday that the loan from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program would support construction of a plant outside Atlanta that Rivian halted work on this year after losing $5.4 billion in 2023. “This loan will help create thousands of new American jobs and further strengthen U.S. leadership in EV manufacturing and technology,” said Rivian founder and Chief Executive RJ Scaringe, in a prepared statement. Rivian said it “must satisfy certain technical, legal, environmental, and financial conditions” before the department enters into definitive financing documents and funds the loan. Shares of Rivian were up 4% to $12.06 in early afternoon trading. The funding comes just weeks after Rivian and Volkswagen group entered into a joint venture that could deliver as much as $5.8 billion to the electric-vehicle maker, which is supplying the German company electronic and computer components for its own electric-vehicle program. The venture significantly boosted the finances of Rivian, which went public in 2021 amid strong investor interest in EV makers, but the market has been slowed by higher interest rates and other challenges. Rivian also has struggled with supply issues and production. The company cut 10% of its 16,700-plus workforce earlier this year and and recorded a net loss of $1.1 billion, or $1.08 a share, in the third quarter. It employed about 2,200 locally in 2023, according to the Orange County Business Journal. The loan was approved by the Energy Department in the waning days of the Biden administration, whose 2022 Inflation Reduction Act set aside some $500 billion to boost clean energy and make other investments in the economy. The administration’s announced goal has been to have half of all cars sold nationally be electric by 2030. President-elect Donald Trump has said he wants to pull back any unspent funds of the act, but the law has drawn bipartisan support as much of the funding has flowed to Republican-led states. The planned Rivian plant has the the support of Georgia Gov. Brian Kemp, a Republican. “Today’s announcement reinforces the Biden-Harris Administration’s commitment to strengthen the nation’s manufacturing competitiveness, helping ensure American businesses remain global leaders in the rapidly expanding EV industry,” the Department of Energy said. Karl Brauer, executive analyst at iSeeCars.com, an automotive research website, said the loan reflects the Biden administration’s efforts to put “a wide range of things in place as quickly as possible.” “They won’t control the agenda any longer,” he said, adding the loan would give Rivian a “much longer runway and much needed financial help.” This is not the first time the department has made a large loan to support the electric vehicle industry. In 2010, it gave a $465-million loan to Tesla Motors to help fund its vehicle development and to build its Fremont, Calif., factory. At full capacity, the EVs manufactured at Rivian’s Georgia facility are expected to yield an annual fuel consumption savings of roughly 146 million gallons of petroleum, the energy department estimated. Rivian sold about 50,100 vehicles last year, boasting that its full-size, three-row R1S is the best-selling SUV in California in the above $70,000 price category. But it has yet to release cheaper models that appeal to a broader market. It also makes delivery vans for Amazon. The company is already expanding its sole plant in Normal, Ill., where it makes the R1 and plans to start production in 2026 of the midsize R2 SUV, which would start at about $45,000 and be released in the latter half of that year. Rivian said the loan also would provide “significant funding” for the development of the platforms of the R2, as well as an even more affordable midsize crossover models called the R3 and R3X — all of which the company said are critical for its long-term growth and profitability. The company said it would build the new plant in two phases, each with an annual production capacity of 200,000 vehicles. If the loan receives final approval, it would be secured by all assets of the project and fixed assets and guarantees of Rivian and some of its subsidiaries, the company said.

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