Autonomous technology lab opens at MIT Research And Engineering

MIT School of Engineering | January 22, 2020

Massachusetts Institute Of Technology Research And Engineering has created the Mobile Autonomous Systems Experimentation Laboratory to provide consultancy and research on autonomous vehicle technology. The lab’s centerpiece is the MASE Jeep – a modified Grand Cherokee outfitted by MITRE engineers with sensors, analytic and data recorders, and powerful processors –  which is being used to examine autonomous technologies and algorithms. Zachary LaCelle, a senior autonomous systems engineer at MITRE, said, “We have human interaction researchers who are experts at cognitive loading and how to effectively communicate between computers and people. We have cyber experts and autonomy experts working on ground transportation, urban air mobility, and defense applications.

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Top Cool Layout Benefits Although traditional power SMDs yield small solutions, they have the need for the back of the board to remain unpopulated underneath them. This is for heatsinking reasons. Thus, some board space is unavailable and nets a larger overall board size. Top cool devices bypass this issue because the heatsinkin


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CONSTRUCTION

Procore Announces Winners of 2022 Groundbreaker Awards

Procore Technologies, | November 14, 2022

Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced the winners of the 2022 Groundbreaker Awards at Procore’s annual industry event in New Orleans, Groundbreak. The Groundbreaker Awards celebrate the companies, projects and individuals that drive excellence across the construction industry. “Behind every great project, there are outstanding people. The Groundbreaker Awards honor our customers who are leading and positively influencing the construction industry on a daily basis, Congratulations to all of the winners of the Groundbreaker Awards.” -Tooey Courtemanche, President, Founder and CEO of Procore. Procore selected 27 companies, projects and individuals as finalists for groundbreaking achievements. Kassy Morris, Head of Procore Construction Learning, presented the nine awards to the winners of the 2022 Groundbreaker Awards: Excellence in Sustainability: Hathaway Dinwiddie Construction Company Excellence in Workforce Development: Roebbelen Contracting, Inc Excellence in Innovation: Truebeck Construction Excellence in Safety: McCarthy Building Companies, Inc Excellence in Community: Blue Door - Construct Groundbreaker of the Year: Atul Paralkar, Executive Director of Business Intelligence | Operational Excellence, Holt Construction Corp. General Contractor Project Excellence: Skanska USA Specialty Contractor Project Excellence: Willmar Electric Service Owner Project Excellence: Duke Energy in partnership with Ameresco & D3Energy. About Procore: Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Our platform connects every project stakeholder to solutions we've built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with our platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices in the United States, Canada, and around the globe.

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CONSTRUCTION

Jones Street Investment Partners Secures $179 Million in Construction Financing for Three Northeast Multifamily Projects

Jones Street Investment Partners | November 15, 2022

Jones Street Investment Partners, a private equity real estate firm focused on multifamily assets located throughout the Northeast and Mid-Atlantic regions of the U.S., today announced that it has secured $179 million in construction financing to develop luxury multifamily communities in Kittery and Brunswick, Maine, as well as Manchester, New Hampshire. Securing these loans enables Jones Street to expand its portfolio in key secondary markets across the Northeast that are severely supply constrained and have demonstrated consistently strong rental growth. “We appreciate the support of our financing partners, Our ability to secure these loans at attractive terms is a testament to the strength of our relationships, the quality of our business plans and our established track record. Each of these projects aligns with our emphasis on long-term, cash flowing investment strategies that have the potential to deliver attractive risk-adjusted returns. We look forward to ingraining ourselves within each of these communities and delivering exceptional living experiences to our future residents.” -Matt Frazier, founder and CEO of Jones Street Investment Partners. Jones Street secured a $70 million loan from Key Bank as well as a $7.9 million preferred equity investment from a major investment manager to develop Seacoast Residences, a 282-unit multifamily community located at 76 Dennett Road in Kittery. The five-building property, which is situated along I-95 and immediately across the border from Portsmouth, New Hampshire, will feature luxury unit finishes, a resort-style swimming pool, fitness center, dog park, sun deck, and on-site nature trails. Seacoast Residences is located in an area with a limited supply of rental product and is poised to benefit from its proximity to major employment centers. A number of national and regional businesses operate in the New Hampshire and Southern Maine seacoast regions, including Andover Healthcare, Portsmouth Naval Shipyard, CSI Engineering, Northwestern Mutual, and Sun Life Financial, among others. Jones Street expects to complete construction in early 2024. Bangor Savings Bank provided Jones Street with a $36 million loan to develop an amenity-rich, 181-unit multifamily community in Brunswick. Located on Admiral Fitch Avenue in a Qualified Opportunity Zone, the property sits within the Brunswick Landing Development, a former naval base that is being revitalized and includes nearly 2 million square feet of commercial and industrial space. Ideally situated three miles from downtown Brunswick and within 30 minutes of downtown Portland, which is experiencing sustained rent growth, the property is expected to benefit from the strong employment market. A number of major regional and national employers, including L.L.Bean, VividCloud and General Dynamics Bath Iron Works, as well as top-ranked Bowdoin College, operate in the area. The property is expected to be completed by the fourth quarter of 2024. Jones Street secured a $65.1 million loan from Berkshire Bank to develop a 250-unit multifamily community in downtown Manchester. Located at 75 Canal Street within a Qualified Opportunity Zone, the property will consist of studio, one-, two- and three-bedroom apartments and approximately 2,000 square feet of ground-floor retail space. It will also feature an array of amenities including a clubhouse with a full-service kitchen and game room, fitness center, business center and two outdoor courtyards. Manchester boasts low unemployment rates, high affordability and strong economic growth. This has translated into high occupancy and consistently strong rental growth. Major employers in the area include Oracle, TD Bank, New York Life and Southern New Hampshire University. Jones Street expects construction to be completed in the summer of 2024. About Jones Street Investment Partners: Jones Street Investment Partners is a privately held real estate investment management firm focused on multifamily investments located in the Northeast and Mid-Atlantic regions of the United States. Formed in 2014, the Boston-based firm is an opportunistic and disciplined value-based investor focused primarily on the management of long-term, cash-flowing investment strategies and drawing on the capabilities of affiliate Jones Street Residential for asset and property management. Aligning an institutional-quality investment and operational approach with the economic and strategic interests of its investors, Jones Street is a trusted source of investment opportunities for its capital partners. Jones Street’s portfolio consists of 4,389 apartment units with approximately $1.3 billion of current assets under management and $360 million of equity invested.

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CONSTRUCTION

Construction Partners, Inc. Completes North Carolina Acquisition

Construction Partners | December 05, 2022

Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states, today announced that it has acquired Ferebee Corporation, a full-service hot-mix asphalt and paving company headquartered in Charlotte, North Carolina. With three hot-mix asphalt plants in the greater Charlotte/Rock Hill metro area, Ferebee provides asphalt contracting services for a variety of public, commercial and residential projects. Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "We are pleased to welcome Ferebee Corporation to the Construction Partners family of companies, expanding our geographic footprint into western North Carolina. As a platform acquisition, Ferebee creates another engine for growth driven by a talented and experienced team under the leadership of Chris and David Ferebee. This new platform company will capitalize on opportunities from the rapid growth occurring in the greater Charlotte/Rock Hill markets and surrounding areas. Through our two platform companies in North Carolina, we are now better positioned to serve the infrastructure needs of one of the fastest growing states in the country." Smith concluded, "Consistent with CPI's long-established consolidation growth strategy in the Southeast, this investment expands top-line revenue growth, drives margin expansion and increases relative market share. The Ferebee acquisition, coupled with our recent strategic sale of Daurity Springs Quarry and entry into the Nashville area, expands our operations into two fast growing markets while maintaining the Company's 2022 fiscal year-end leverage ratio. Additionally, we expect both of these new operations to be accretive to earnings in this fiscal year." About Construction Partners, Inc. Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across six southeastern states. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminal, the company focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments.

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CONSTRUCTION

DC Capital Announces Launch of Akela Engineering and Consulting

Akela Engineering and Consulting | December 06, 2022

DC Capital Partners Management, LP ("DC Capital" or "DCCP"), a sector focused private equity firm that invests in middle-market companies in the Government and Engineering sectors, today announced the launch of Akela Engineering and Consulting ("Akela"). Akela is a full-service Mechanical, Electrical and Plumbing (MEP) firm providing engineering and consulting services to the construction industry in California. Industry veteran Dennis Berlien, P.E., has joined Akela as Chief Executive Officer. Akela partners with public and private entities to provide a diverse range of services, including mechanical engineering, electrical engineering, commissioning, sustainable solutions, architectural lighting and technology. The firm serves clients in the military, life science, government, education, corporate, multi-family, sustainability, hospitality and healthcare spaces. DC Capital serves as the parent company to Akela. Michael Wall Engineering, Inc. and DEC Engineers, Inc., two leading Southern California MEP engineering firms, united to form Akela, which is a sister company of Michael Baker International, a global leader in engineering, planning and consulting services. "Akela is the fusion of two successful engineering firms combining 47 years of shared experience, We are extremely pleased to share the official launch of Akela and welcome these industry experts to our portfolio of companies providing differentiated and innovative services and solutions in the Government and Engineering markets." -Thomas J. Campbell, Founder and Managing Partner of DC Capital. Mr. Berlien brings more the 25 years of experience to his role as CEO at Akela. He most recently served as President for Glumac, a Tetra Tech Company, and prior to assuming that role, he held a variety of executive roles since joining in 2011. Throughout his career, Mr. Berlien also held leadership positions at Vanderweil Engineers, Wright Engineers, AMEC, Adobe Consulting Engineers and Bechtel. Mr. Berlien holds a Bachelor of Science degree in Electrical Engineering from North Carolina State University. He serves on the Board of Directors for the Orangewood Foundation, one of the leading providers of services to foster and community youth in Orange County. He was a Director for the United States Green Building Council (USGBC), an organization committed to a sustainable, prosperous future through its Leadership in Energy and Environmental Design (LEED) criteria as well as a DBIA certified professional. Mr. Berlien is also co-author of the book, "Connections: Everyone Happens for a Reason." "Akela is dedicated to delivering innovative design and sophisticated solutions to complex challenges and our culture emphasizes a collaborative wolf pack approach, We believe we are Stronger Together, and I look forward to partnering with our colleagues and clients to deliver results for the communities we serve." -Dennis Berlien, P.E., Chief Executive Officer at Akela. About Akela Engineering and Consulting: Akela Engineering and Consulting (Akela) is a full-service Mechanical, Electrical, and Plumbing (MEP) firm providing engineering and consulting services to the construction industry in California. In 2022, Michael Wall Engineering (electrical engineering since 1996) and DEC Engineers (mechanical engineering since 2000) amalgamated to create Akela.

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Spotlight

Top Cool Layout Benefits Although traditional power SMDs yield small solutions, they have the need for the back of the board to remain unpopulated underneath them. This is for heatsinking reasons. Thus, some board space is unavailable and nets a larger overall board size. Top cool devices bypass this issue because the heatsinkin

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