Category: Manufacturing

10 Best Tech Startups in California-Faraday Future #4

June 11, 2018 0 Comments
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The Tech Tribune staff has compiled the very best tech startups in California. In doing our research, we considered several factors including but not limited to:

Revenue potential
Leadership team
Brand/product traction
Competitive landscape
Additionally, all companies must be independent (un-acquired), privately owned, at most 10 years old, and have received at least one round of funding in order to qualify.

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1. Uber
Uber

Founded: 2009

“We believe that by solving some of the biggest problems of our time, we can create a future where there is limitless freedom of movement for people and things all across the world. Just talk to our people — and feel their passion, optimism and curiosity for building solutions every single day on behalf of drivers, riders, couriers, eaters and employees.

While the tough problems we face everyday can be incredibly difficult to figure out, we believe those same problems enable us to personally grow the most. So we welcome people from all backgrounds who have the passion to change the world and also want to help create a supportive and collaborative environment. So that ultimately, we can learn together, solve together, build together, and move the world forward together.”

2. Airbnb
airbnb

Founded: 2008

“Founded in August of 2008 and based in San Francisco, California, Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world — online or from a mobile phone. Whether an apartment for a night, a castle for a week, or a villa for a month, Airbnb connects people to unique travel experiences, at any price point, in more than 33,000 cities and 192 countries. And with world-class customer service and a growing community of users, Airbnb is the easiest way for people to monetize their extra space and showcase it to an audience of millions.”

3. Lyft
Lyft

Founded: 2012

“Wherever you’re headed, count on Lyft for rides in minutes. The Lyft app matches you with local drivers at the tap of a button. Just request and go.

Ride by ride, we’re changing the way our world works. We imagine a world where cities feel small again. Where transportation and tech bring people together, instead of apart. We see the future as community-driven — and it starts with you.”

4. Faraday Future
faraday future

Founded: 2014

“Faraday Future is a global automotive and technology company, uniting the latest in sustainable transportation and connected digital ecosystems to redefine future mobility – and move humanity forward.”

5. Pinterest
pinterest

Founded: 2009

“Pinterest helps you discover and do what you love. Find recipes, style inspiration, projects for your home and other ideas to try.”

6. Wish
wish
Founded: 2010

“Wish is a mobile e-commerce platform that connects hundreds of millions of consumers with the widest selection of products delivered directly to their doors. Our mission is to provide everyone access to the most affordable and convenient shopping experience on the planet. Wish supports 500,000 merchant partners as well as over 300 million users who rate Wish the best mobile shopping app on the iOS and Android platforms.”

7. Fair
fair
Founded: 2016

“Fair is an automotive FinTech company that’s revolutionizing car buying by offering unprecedented freedom, flexibility and an end-to-end mobile experience.

We believe fairness matters. That’s why we’ve created a game-changing new app that lets you shop, get approved and pay for a car all on your phone with just a driver’s license and bank account. Get in-app approval for a monthly payment amount that works for you, then head to the dealership and check-out in minutes. You can drive your car for as long as you want, and return it any time you’re ready. That’s the Fair way to drive!”

8. Royole Corporation
Royole Corporation

Founded: 2013

Also honored in: 10 Best Tech Startups in Fremont

“Founded in 2012 and based in Silicon Valley, California, Hong Kong, and Shenzhen, China, Royole develops innovative display technologies and related electronic products, and provides IP licenses, services and solutions for a variety of industries associated with display applications.

Royole creates and manufactures the most advanced flexible displays, sensors, and consumer electronics. In 2014, Royole first introduced the world’s thinnest full-color flexible displays with a thickness of 0.01 mm and a bending radius of 1 mm. Royole’s display technology is expected by many industry leaders to revolutionize the smartphone and consumer electronics industry. In 2015, Royole began mass production of its proprietary flexible electronics at its production facility in Shenzhen, China. In September 2015, Royole launched and started mass production of the world’s first foldable virtual mobile theater device, Royole-X. Royole-X is an artful unison of world’s highest resolution AMOLED displays (3300ppi) and noise-cancelling headphone with its own new operating system, Royole-X OS.”

9. Instacart
Instacart

Founded: 2012

“Instacart (YC S12) is building the best way for people everywhere in the world to shop for groceries. Using your phone or the web, you can order groceries and have them delivered to your door in minutes. You can choose from a variety of local stores including Whole Foods, Safeway, Costco, Mariano’s and many more, as well as being able to mix items from multiple stores into one order.

Every day, we solve incredibly hard problems to create an experience for our customers that is nothing short of magical. We are located in San Francisco, and well-funded by some of the greatest investors in the world, like Sequoia Capital, Khosla Ventures, Andreesen Horowitz, SV Angel, and Y Combinator.”

10. AppLovin
applovin

Founded: 2012

“AppLovin offers a comprehensive platform where app developers of all sizes can connect with their ideal consumers and get discovered. Founded in 2012, the company is focused on helping both indie and established developers grow, with the expertise and insights they need to finance, market, and expand their businesses – all in one place. App developers view AppLovin as a trusted partner, the rare company that understands what it takes to succeed in the mobile app ecosystem and the ability to help them reach their goals.”

 

http://thetechtribune.com/10-best-tech-startups-in-california/

Study Ranks Wonderful Co. as Top Growth Leader in Produce, Consumer Packaged Goods

Wonderful Pistachios

Wonderful Pistachios

Los Angeles-based Wonderful Company was named the no. 1 growth leader in produce and no. 1 in consumer packaged goods last year, according to a study released June 14 by the Boston Consulting Group and market research firm IRI.

Wonderful Company, which grows, markets and sells pistachios, almonds, citrus fruits, pomegranates, bottled water, wine and floral arrangements, took the top spots among mid-sized U.S. companies with sales between $1 billion and $5.5 billion.

“The Wonderful Company is relentlessly focused on driving healthier eating options,” said Adam Cooper, vice president of marketing for the Wonderful Company, in a statement. “Over the past 10 years, we’ve invested more than $3 billion in capital and $1 billion in marketing and brand building. With these investments, and consumers increasingly seeking nutritious choices, Wonderful is poised for even more growth in the future.”

According to the BCG report, Wonderful and other consumer packaged goods companies saw sales rise thanks to developing a range of offerings, targeting consumers, growing their portfolios and expanding into new markets.

“The market continues to be sluggish, but in identifying this year’s CPG growth leaders, we found that there are clear steps companies can take to uncover areas of growth,” said Peri Edelstein, a BCG partner and coauthor of the study, in a statement. “This includes developing a deep understanding of consumer demand, innovating to meet new occasions and using pricing strategically to enhance volume growth instead of as a tactic to drive dollar growth.”

The report looked at more than 400 public and private consumer packaged goods companies with annual U.S. retail sales of more than $100 million. The companies were ranked on dollar sales growth, volume sales growth and market share gains.

Privately held Wonderful Co. is a $4 billion company with 9,000 employees worldwide. Its brands include Wonderful Pistachios, Wonderful Halos, POM Wonderful, FIJI Water, Justin Wine and Teleflora.

The company is owned by Stewart and Lynda Resnick, who are ranked no. 7 on the Los Angeles Business Journal’s list of Wealthiest Angelenos with an estimated net worth of $6.5 billion.

http://labusinessjournal.com/news/2018/jun/14/study-ranks-wonderful-co-top-growth-leader-produce/

Faraday Future Receives Permit and Announces Bernards as General Contractor for Hanford Factory

ONSITE CONSTRUCTION WORK HAS COMMENCED AS FIRST SET OF EQUIPMENT IS INSTALLED TO FACILITATE DELIVERY OF THE FIRST FF 91 BY YEAR’S END

LOS ANGELES, JUNE 7, 2018 – Faraday Future (FF) announced today that Bernards, a commercial builder located in San Fernando, California, will serve as the general contractor for the 1M square foot FF factory in Hanford, California.

The Hanford factory is a turn-key facility, strategically sited between the country’s two largest EV markets, Los Angeles and Silicon Valley. This marks a significant step forward for FF in its mission to deliver FF 91, its first production vehicle, to market by the end of 2018. FF has received the permit from the city government of Hanford for its onsite work to begin construction, prior to manufacturing and delivering the first FF 91.

“We are honored to be chosen as the general contractor for Faraday Future’s Hanford factory in the valley,” said Falco DiGiallonardo, VP of Bernards. “EV is the future of mobility and we look forward to working with FF to have the factory set for production later this year.”
As of February 1, the property was completely vacated. FF completed the planning phase, including interior and exterior design, progressing to the next phase of production.

“We appreciate the support given to us by the City of Hanford,” said Dag Reckhorn, SVP of Global Manufacturing of FF. “As of now, our on-site abatement, demolition, and refurbishment work has started, and we have ordered all the long lead-time equipment. We are extremely excited to have Bernards on board to work with us to ready our factory with our aggressive, yet workable, timeline.”

On-site demolition and construction work began in March, as the first batch of production equipment has already been installed and tested to begin manufacturing.

FF is also collaborating proactively with local Hanford institutions and agencies to ready the recruitment cadences and hiring efforts for the factory. Several local training programs have been designed and hiring has already started.

FF announced its Hanford factory last August. The facility will employ up to 1,300 employees, working a 3 shift schedule.

ABOUT FARADAY FUTURE

Faraday Future is a user-centric, advanced mobility company with headquarters in Southern California. Our global team leverages the talents of leading thinkers and passionate creators from the technology and automotive industries to bring premium, intuitive, and seamlessly connected electric vehicles to people worldwide.

FOLLOW FARADAY FUTURE:

www.ff.com www.twitter.com/faradayfuture

www.facebook.com/faradayfuture

www.instagram.com/faradayfuture

www.linkedin.com/company/faradayfuture

#FaradayFuture #FF91

For more information about Faraday Future, contact: press@ff.com

Fresno State expands business school

 

Central Valley Business Times

June 1, 2018

  • To break ground on Ruiz Foods Executive Classrooms
  • “Vastly improves its ability to offer transformative educational experiences”

The Craig School of Business at Fresno State will host a public groundbreaking for its Ruiz Foods Executive Classrooms that will soon be constructed with stadium seating and the latest technology.

The celebration will be held at 9 a.m. on Thursday, June 7, on the north lawn in front of Duncan Patio. The Ruiz Foods Executive Classrooms are the result of a $1 million pledge made in May 2017 by Ruiz Food Products Inc., a Dinuba-based food manufacturing company.

The gift will help finance construction of an annex to the existing University Business Center and house two new executive classrooms with innovative education technology. “With two new executive-style classrooms, the Craig School of Business vastly improves its ability to offer transformative educational experiences,” says Robert Harper, interim provost and vice president for Academic Affairs.

“While the classrooms will be used for our executive MBA program and accelerated bachelor’s program, they will also serve as vital spaces for other students within the university as well.”

The Ruiz family has a history of supporting business education at Fresno State. Entrepreneur Fred Ruiz is a founder of the Institute for Family Business, a community resource that promotes family businesses as a catalyst for economic growth. Kim Ruiz Beck, chairman of Ruiz Foods, is an alumna of the Craig School and serves on the Foundation Board of Governors for the California State University, Fresno Foundation. In 2017, she earned the Top Dog Distinguished Alumna Award from the Fresno State Alumni Association.

The classrooms will be designed to replicate what executives would expect, allowing for faculty to fully utilize technology in presentations to improve learning outcomes for undergraduate, MBA and executive MBA students. The added space will also serve the community. When not in use for academic purposes, the space will be available for rental as part of the slate of services provided by the University Business Center. Mr. Harper says the anticipated completion date for the project is summer 2019.

Almond acreage in California grows to record total

California Resources Corp. acquires full ownership of Elk Hills oil field

  • BY JOSEPH LUIZ
418022508-data.jpg
In this file photo taken at Elk Hills , Matt Wells, Mitch Tate and Steve Northern, left to right, make a connector change.

The California Resources Corp. has acquired 100 percent ownership of the Elk Hills oil and natural gas field in Kern County, according to the company.

The oil company said it purchased Chevron’s interests for $460 million and issued 2.85 million shares of CRC stock to Chevron. The deal went through April 1. Chevron had owned about 20 percent of the field’s assets. CRC had owned the rest of the field and has been its operator.

“We have operated this field for over 20 years and have developed a deep knowledge of the geology and strong operational expertise to deliver robust value from this asset,” said CRC President/Chief Executive Officer Todd Stevens. “We intend to apply this know-how to our newly acquired position, as well as transfer learnings and efficiencies to enhance CRC’s assets across California.”

 In 2017, the interests that Chevron held produced approximately 13,300 barrels of oil and natural gas liquids per day, according to the company.

CRC estimates that based on current prices, the field could provide the company an operating cash flow of around $100 million annually. Elk Hills is now estimated to make up about 43 percent of the company’s total production.

CRC’s acquisition of Chevron’s interests comes after the company went into a joint venture on the Elk Hills field in early 2017 with a portfolio company that is part of the private equity group Ares Management, L.P.

Ares paid $750 million and purchased 2.34 million shares in CRC stock to obtain some of CRC’s Elk Hills assets. The particular interests under the agreement are the Elk Hills power plant, a natural gas-fired power plant and a cryogenic gas-processing plant.

Some of the proceeds from the joint venture were used in purchasing Chevron’s interest in the field, Stevens said.

 “Acquiring sole ownership of such a prolific field is an ideal use of proceeds from our recent midstream joint venture transaction, adding both immediate production and cash flow, while providing for quick synergies and tremendous long-term development opportunities,” he said.

Elk Hills, located west of Bakersfield, was initially discovered in 1911 and has produced more than 2 billion barrels of oil and gas since then, according to CRC.

Construction milestone reached at Manteca Commerce Center

 

Central Valley Business Times

April 13, 2018

  • Dermody Properties puts in first wall panels for industrial building
  • “We are excited to be expanding our investments in the Central Valley”

The tilt-up and placement of the first wall panels for a 286,072- square-foot building that could be used as a distribution center has been completed by Dermody Properties in the Manteca Commerce Center, the Reno, Nevada-based company says. Dermody builds and manages logistics real estate.

The new building will feature a total of 50 dock doors, two grade-level doors, a 36-foot clear height and 156 car parking spaces. Construction is expected to be complete in the second quarter.

“We are excited to be expanding our investments in the Central Valley,” says Douglas Kiersey Jr., president of Dermody Properties. “The development of Manteca Commerce Center is consistent with our strategy of investing in key distribution markets with a high demand for industrial facilities and a well established transportation infrastructure.”

Manteca Commerce Center is located directly off of Highway 120, about 15 minutes south from the Port of Stockton, with access to Highway 99 and Interstate 5. The developer says the location provides “an ideal” West Cost distribution link to Fresno, Reno, Los Angeles and Las Vegas.

“Manteca Commerce Center is our second property in the Central Valley,” says George Condon, West region partner, Dermody Properties. “Companies are continuing to move from the Bay Area to the Central Valley to expand their businesses and lease Class-A warehouse space at a significant discount to the cost of Bay Area warehouses. Companies new to Northern California are also setting up shop in the Central Valley to serve the businesses and residents of the Bay Area.”

JLL is marketing the property. The project was designed by HP, Inc., and BCM Construction is the general contractor.

http://files.constantcontact.com/2cb20f61601/12d85a0b-161b-4ef2-85f1-4802f7ddbfea.pdf

HANFORD OFFICIAL: FARADAY FUTURE SETS MAY 21 TARGET TO INSTALL ASSEMBLY LINES

Faraday Future FF 91

Faraday Future hopes to start manufacturing the FF 91 in Hanford by late 2018. Image via Faraday Future

Published On April 11, 2018 – 12:45 PM
Written By John Lindt

Kings County officials this week traveled to the Southern California town of Gardena to meet with executive staff of Faraday Future as well as company founder Jia Yuetin to help make plans for the startup’s Hanford assembly plant.

Demolition work on the interior of the old Pirelli facility in the Hanford Industrial Park is underway as construction drawings are being completed for the remodel of the sprawling 1 million square-foot plant that will soon get underway.

Member of the Kings County Board of Supervisors Doug Verboon joined Kings EDC President John Lehn and Hanford City Manager Darrel Pyle and others from Kings County for an April 10 tour of the Gardena facility, where work is underway on the speedy electric car, the FF 91.

Verboon said he saw 12 cars at the plant and got to sit in one of them. ”It was very impressive — this operation is for real,” he said.

He added that he was told the company’s investment funding was secure, and they were looking to start assembly of the high-tech electric car in Hanford late this year.

Touring the plant, local officials saw employees busy at different stations making parts using 3D imagery. ”There is lots of technology on display.”

Verboon says now the focus of the company is for Kings County agencies to partner with Faraday to get the word out that jobs are on the way locally.

“Right now they have 700 employees in the LA area, but after they install assembly-line machinery in Hanford, set for May 21, they will need to hire some 54 employees in Hanford and up to 750 here over a period of time,” he said.

“They need help finding hotel rooms or places for employees to stay,” said Verboon, who is also looking to coordinate efforts with placement agencies and junior colleges.

“They already have a list of about 500 who are looking for work.”

Verboon added that the company “has a tight timeline” and expects to meet again with the same local team April 13. “We want to handle it the same as we did for the Surf Ranch project — a dedicated team who will answer all their questions” and ease the rollout of their business here.

Faraday Future makes headway in Hanford

  • Updated 
Faraday Future sign
Electric car company Faraday Future has a sign with its name outside the old Pirelli Tire plant at 10700 Idaho Ave. in Hanford’s Industrial Park.

HANFORD — It’s been a relatively quiet seven months since electric car company Faraday Future announced its plans to locate in Hanford, but the company seems to be slowly but surely moving forward with its plans.

“Things are absolutely moving forward,” said John Lehn, president and CEO of Kings County Economic Development Corporation (Kings EDC).

Lehn said he is in contact with Faraday officials multiple times a week. He said his office continues to be impressed by the quality of people who work for Faraday Future and has complete confidence in the company’s dedication to Hanford.

Faraday Future signed a lease in August 2017 to locate in a manufacturing facility in the old Pirelli tire plant at 10700 Idaho Ave. in Hanford’s Industrial Park. The company immediately hosted a clean-up event to prepare the 1 million square-foot new site for the move-in of manufacturing equipment.

The facility is supposed to be used to manufacture the company’s first electronic vehicle, the FF 91, and hopefully bring it to market.

Little tidbits of information have surfaced every once in a while since the announcement. Dag Reckhorn, Faraday Future’s senior vice president of global manufacturing, visited Hanford in September and October 2017 to talk publicly about the car and the company’s goals.

Faraday Future said it wanted a turn-key facility that offers a faster path to production, and picked the site in Hanford because it is strategically located between the country’s two largest electronic vehicle markets: Los Angeles and Silicon Valley.

But there have also been troublesome news surrounding the company as well, including shake-ups and departures within the company’s top executives and funding difficulties.

Lehn said he understands the skepticism the news has elicited, especially taking into account the scope and scale of what the company is trying to do.

Darlene Mata, Hanford’s community development director, said Faraday was recently issued a demolition permit for the inside of the plant and has been doing asbestos removal and lead paint remediation.

Mata said Faraday is also currently in the site plan review process with the city, meaning the department is making sure the entire site has the proper access and parking spaces that meet city standards.

“No building permit application has been submitted yet,” Mata said. “I don’t know when one will be submitted, but they said soon.”

Requests for comment from Faraday Future were not returned.

Lehn said Faraday is moving forward with the hiring process and is currently taking applications online only. He said his office has been involved with facilitating a few interviews already.

Faraday’s website has posts for several job openings in Hanford, including administrative positions, various “team member” positions and even a few management positions.

In addition to working with both Tulare and Fresno counties’ workforce boards, Lehn also said Kings EDC and Faraday are working in conjunction with West Hills Community College District to offer some type of introductory manufacturing course.

“A lot of things are happening all at once,” Lehn said. “Everything’s moving full speed ahead.”

http://hanfordsentinel.com/news/local/faraday-future-makes-headway-in-hanford/article_06b04ce2-7f91-529e-8c9c-61aea192edc2.html

PORTERVILLE PAYS FOR FIRST TWO OF 10 ELECTRIC BUSES

Two out of an order of 10 all-electric buses have been received by the city of Porterville at a cost of about $820,000 each.

Published On March 16, 2018 – 4:57 PM
Written By David Castellon

Porterville is a step closer to becoming one the first U.S. cities with a primary fleet of all-electric commuter buses.

On Wednesday, the city made its payment on the first two of 10 38-passsenger buses ordered from GreenPower Motor Co., which did the final assembly of the buses at its temporary manufacturing facility within two large hangars at the Porterville Municipal Airport.

Portions of the assembly also occurred in Taiwan and China.

The Canadian-based electric bus manufacturer is in the process of building a 125,000-square-foot factory across the street from the Porterville airport, where it plans to fully assemble up to 150 buses a year. And depending on how many bus orders go through in the coming years, the factory could expand up to 300,000 square feet and double its rate of bus production, said Brendan Riley, GreenPower’s president.

Porterville actually took possession of the two $822,000 buses on March 8, but the cost isn’t coming from city coffers. Instead the purchases are fully funded through $9.5 million in grants from the California Air Resources Board, which besides paying for the 10 buses also will cover the purchase and installation of 11 charging stations for them.

“Funding for this project is part of California Climate Investments, a statewide program that puts billions of cap-and-trade dollars to work reducing greenhouse gas emissions, strengthening the economy and improving public health and the environment — particularly in disadvantaged communities. The cap-and-trade program also creates a financial incentive for industries to invest in clean technologies and develop innovative ways to reduce pollution,” Leslie Goodbody, an engineer for the Air Resources Board, said in a written statement.

Porterville Transit Manager Richard Tree said one of the charging stations will be installed at the Porterville Transit Center, while the rest will be installed at the city maintenance yard, where most city buses are parked overnight.

For this order, GreenPower enlarged the batteries from the normal size of its EV 350 buses, extending their capacities to 400 kilowatt hours from 320 and the buses’ driving range to 250 miles on a single charge.

Riley said the Porterville buses will travel up to 230 miles a day on their routes, so they shouldn’t have to recharge until they’re finished for the day, eliminating the need to swap out buses to charge them during the day.

Though the city has the two of the new buses, Tree said they may not be put into service for another 45 days, as Porterville Transit logos still need to be adhered to them, while GreenPower will help the city conduct field tests and train transit drivers on the new buses.

Once they’re on the road, two diesel buses will be retired, and the Porterville’s 16 compressed natural gas-powered buses will continue to be used while they’re retired at a slower rate through 2029, said Tree, adding that once all the GreenPower buses are delivered, they will be the primary buses working city bus routes.

Riley said GreenPower will make another bus it owns available to Porterville on occasions when the city needs it.

As for the rest of Porterville’s bus order, Riley noted that the first two buses took six months to build, and the next three are expected to be ready in May, while the remaining five could be ready in mid summer.

As for the new GreenPower factory, he said the initial facility could be finished by the end of summer.

https://thebusinessjournal.com/porterville-pays-first-two-10-electric-buses/