Public Sector Pension Investment Board

D-Wave Reports Third Quarter Results

Retrieved on: 
Thursday, November 9, 2023
Technology, Research, Semiconductor, Other Technology, Software, Networks, Internet, Hardware, Science, Traction, GMA Network Center, SOC, NTT Docomo, NYSE, Eastern Time Zone, Government, History, EBITDA, GAAP, Investment, Net, Lincoln Park, Growth, BBVA, D-Wave, Introduction, Public Sector Pension Investment Board, Depreciation, HVAC, Radar, ELOC, Forbes Global 2000, Mobile phone, Video game, Cryptocurrency, Bookkeeping, Microscope, Coal, Security (finance), Bank, Sales, Adjustment, Revenue, Book value

Grew third quarter Revenue by 51% on a year-over-year basis, and 50% on a sequential quarter-to-quarter basis.

Key Points: 
  • Grew third quarter Revenue by 51% on a year-over-year basis, and 50% on a sequential quarter-to-quarter basis.
  • Revenue: Revenue for the third quarter of fiscal 2023 was $2.6 million, an increase of $0.9 million, or 51%, from fiscal 2022 third quarter Revenue of $1.7 million, and an increase of $0.9 million, or 50%, from the immediately preceding fiscal 2023 second quarter Revenue of $1.7 million.
  • Non-GAAP Adjusted Operating Expense3: Non-GAAP Adjusted Operating Expenses for the third quarter of fiscal 2023 were $13.5 million compared with $14.2 million in the year earlier fiscal 2022 third quarter.
  • On a sequential quarter-to-quarter basis, the $11.6 million in fiscal 2023 third quarter Adjusted EBITDA Loss represents the second consecutive quarter of sequential quarter-to-quarter improvement in Adjusted EBITDA Loss.

Promise Robotics Raises USD$15 Million Series A to Enable the Homebuilding Industry to Close the Housing Gap at Scale

Retrieved on: 
Tuesday, October 31, 2023
PSP, United Brotherhood, Greenhouse, National Low Income Housing Coalition, Housing, Fugitive emission, Robotics, Carbon, Li Ka-shing, Investment, Autodesk, Risk, Partnership, Public Sector Pension Investment Board, GHG, Eye, USD, Canada Mortgage and Housing Corporation, AI, Automation, Housing Corporation, Built environment, Renewable energy, Oil

TORONTO, Oct. 31, 2023 /PRNewswire/ -- Promise Robotics, an AI company developing a cloud-based industrial production platform for robotic construction and assembly, today announced it raised USD$15 million in Series A funding, bringing its total funding raised to date to USD$25 million. This round was led by Horizons Ventures with participation from Radical Ventures, Public Sector Pension Investment Board (PSP Investments), and strategic investors, including United Brotherhood of Carpenters, Relay Ventures, and Alate Partners. The new funding will help Promise Robotics commercialize its robotic factory platform to support its growing demand from homebuilders and to continue expanding  

Key Points: 
  • To bridge this gap, new home building rates would need to triple - a near-impossible feat with traditional construction technology.
  • Promise Robotics AI-driven system enables the homebuilding industry to deploy automation at scale to address labor shortages, save costs, and significantly increase the speed of sustainable home production from custom single-family to multi-story buildings.
  • To enable the homebuilding industry, Promise Robotics' robotic system aims to remove the risk for homebuilders by offering products that benefit from a decade of operational excellence, continuous improvement, and successful homebuilding.
  • Promise Robotics is well-positioned to be a disruptive force in this industry," said Kerry Liu, an investor at Horizons Ventures.

CANADA GROWTH FUND ANNOUNCES FIRST INVESTMENT

Retrieved on: 
Wednesday, October 25, 2023
PSP, Government, Public Sector Pension Investment Board, Intellectual property, AB, Government of Canada, Investment, CGF, Growth, Economic development, GHG, Public, Renewable energy, Pension fund, Eavor Technologies

Further to the transaction, the Government of Canada and the Public Sector Pension Investment Board ("PSP Investments") are pleased to provide an update to the market on the activities of the Canada Growth Fund.

Key Points: 
  • Further to the transaction, the Government of Canada and the Public Sector Pension Investment Board ("PSP Investments") are pleased to provide an update to the market on the activities of the Canada Growth Fund.
  • "PSP Investments is proud to have been selected to serve as the investment manager for the Canada Growth Fund," said Deborah K. Orida, President and CEO at PSP Investments.
  • Canada Growth Fund Investment Management Inc. ("CGF Investment Management"), a wholly-owned subsidiary of PSP Investments that will be acting as CGF's investment manager, announced its intention to appoint Patrick Charbonneau as its President and Chief Executive Officer.
  • "I am honoured to lead the Canada Growth Fund investment management team.

EQT and PSP complete acquisition of Radius Global Infrastructure

Retrieved on: 
Thursday, September 21, 2023
Residential Building & Real Estate, Commercial Building & Real Estate, Carriers and Services, Technology, Construction & Property, Professional Services, Other Technology, Telecommunications, Mobile, Wireless, Other Construction & Property, Finance, Exercise, LLP, Partnership, Tunnel, Senior, Investment, Conversion, Public Sector Pension Investment Board, Debt-to-GDP ratio, Public, Cravath, Swaine & Moore, Weil, Gotshal & Manges, Goldman Sachs, Simpson Thacher & Bartlett, Holder, Citigroup, EQT, Acquisition, Growth, Say on pay, Fundamental, Market, PSP, Barclays, Cryptocurrency, Security (finance), Financial adviser, Note, Radius, Indenture

Radius Global Infrastructure, Inc. (“Radius”) (NASDAQ: RADI), a leading global aggregator of real property interests underlying wireless telecommunications cell sites and other digital infrastructure assets, announced the completion of its approximately $3.0 billion acquisition (the “Acquisition”) by the EQT Active Core Infrastructure Fund (“EQT Active Core Infrastructure” or “EQT”) and the Public Sector Pension Investment Board (“PSP Investments” or “PSP”).

Key Points: 
  • Radius Global Infrastructure, Inc. (“Radius”) (NASDAQ: RADI), a leading global aggregator of real property interests underlying wireless telecommunications cell sites and other digital infrastructure assets, announced the completion of its approximately $3.0 billion acquisition (the “Acquisition”) by the EQT Active Core Infrastructure Fund (“EQT Active Core Infrastructure” or “EQT”) and the Public Sector Pension Investment Board (“PSP Investments” or “PSP”).
  • “We are excited to begin this next chapter as a private company under EQT and PSP ownership,” said Bill Berkman, Co-Chairman and CEO of Radius.
  • “The acquisition of Radius provides PSP Investments with an important opportunity to further increase its exposure to core, high-quality digital infrastructure assets benefiting from inflation passthrough mechanisms.
  • Morgan Stanley & Co. LLC and Simpson Thacher & Bartlett LLP served as financial and legal advisors, respectively, to EQT Active Core Infrastructure.

Canadian Sustainability Standards Board continues its momentum welcoming 3 new members; meets with International Sustainability Standards Board

Retrieved on: 
Thursday, September 14, 2023
International Sustainability Standards Board, Public affairs, Senior, Investment, Social engagement, Head, Public Sector Pension Investment Board, BDC, Accounting standard, Joint Monitoring and Implementation Committee, FAQ, Organization, Financial Stability Oversight Council, Climate change, Sustainability, Diversity, Business Development Bank of Canada, Knowledge, Assurance, Disclosure, PSP, ISSB, Audit, Industrial design, Management, Medical device

TORONTO, Sept. 14, 2023 /CNW/ - The Canadian Sustainability Standards Board (CSSB) continues its momentum to support the uptake of international sustainability standards in Canada, appointing three new members to expand its geographical representation and breadth of expertise, while continuing to foster its relationship with the International Sustainability Standards Board (ISSB).

Key Points: 
  • TORONTO, Sept. 14, 2023 /CNW/ - The Canadian Sustainability Standards Board (CSSB) continues its momentum to support the uptake of international sustainability standards in Canada, appointing three new members to expand its geographical representation and breadth of expertise, while continuing to foster its relationship with the International Sustainability Standards Board (ISSB).
  • "We are excited to welcome three additional, proven leaders in sustainability to our board.
  • "We are focused on ensuring meaningful engagement with those who are impacted and affected by the first international sustainability standards."
  • Collaboration with Canada's regulatory bodies, which determine the mandatory application rules of standards for Canada's publicly accountable enterprises, will continue.

PSP Investments' 2023 Sustainable Investment Report outlines progress on top sustainability priorities

Retrieved on: 
Thursday, September 14, 2023
Carbon, Partnership, Public Sector Pension Investment Board, Senior, Investment, Culture, PCAF, Public, Corporate governance, GHG, Materiality, TCFD, Translation, DE, Organization, Biodiversity, Task force, Climate change, Sustainability, Non-governmental organization, Task Force on Climate Related Financial Disclosures, Ethics, Climate, Policy, PSP, Asset management, Security (finance), Renewable energy, Risk management, Pension fund

Strengthened our approach to sustainability and climate by updating our Sustainable Investment Policy and Corporate Governance and Proxy Voting Principles.

Key Points: 
  • Strengthened our approach to sustainability and climate by updating our Sustainable Investment Policy and Corporate Governance and Proxy Voting Principles.
  • MONTRÉAL, Sept. 14, 2023 /PRNewswire/ - The Public Sector Pension Investment Board (PSP Investments) today published its annual Sustainable Investment Report, which outlines how the organization is striving to embed sustainable investing into its culture, operations and investment activities to continue to advance capabilities and address emerging risks and opportunities.
  • The report outlines PSP Investments' progress on the organization's top sustainability priorities, including performance toward fiscal 2026 climate targets, the integration of material sustainability factors into decision-making and evolution of the approach.
  • "Our 2023 Sustainability Investment Report showcases the progress we are making in translating this belief into concrete actions and measurable outcomes."

PSP Investments' 2023 Sustainable Investment Report outlines progress on top sustainability priorities

Retrieved on: 
Thursday, September 14, 2023
Carbon, Partnership, Public Sector Pension Investment Board, Senior, Investment, Culture, PCAF, Public, Corporate governance, GHG, Materiality, TCFD, Translation, DE, Organization, Biodiversity, Task force, Climate change, Sustainability, Non-governmental organization, Task Force on Climate Related Financial Disclosures, Ethics, Climate, Policy, PSP, Asset management, Security (finance), Renewable energy, Risk management, Pension fund

MONTRÉAL, Sept. 14, 2023 /PRNewswire/ -- The Public Sector Pension Investment Board (PSP Investments) today published its annual Sustainable Investment Report, which outlines how the organization is striving to embed sustainable investing into its culture, operations and investment activities to continue to advance capabilities and address emerging risks and opportunities. Accompanying reporting includes PSP Investments' climate-related financial disclosures based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Key Points: 
  • Strengthened our approach to sustainability and climate by updating our Sustainable Investment Policy and Corporate Governance and Proxy Voting Principles.
  • MONTRÉAL, Sept. 14, 2023 /PRNewswire/ -- The Public Sector Pension Investment Board (PSP Investments) today published its annual Sustainable Investment Report, which outlines how the organization is striving to embed sustainable investing into its culture, operations and investment activities to continue to advance capabilities and address emerging risks and opportunities.
  • The report outlines PSP Investments' progress on the organization's top sustainability priorities, including performance toward fiscal 2026 climate targets, the integration of material sustainability factors into decision-making and evolution of the approach.
  • "Our 2023 Sustainability Investment Report showcases the progress we are making in translating this belief into concrete actions and measurable outcomes."

D-Wave Reports Second Quarter Results

Retrieved on: 
Thursday, August 10, 2023
Semiconductor, Technology, Nanotechnology, Software, Research, Science, Hardware, Advertising, Introduction, Investment, Public Sector Pension Investment Board, Eastern Time Zone, Unisys, Home equity line of credit, GAAP, History, Lincoln Park, Government, The Interpublic Group of Companies, Net, EBITDA, Forbes Global 2000, ELOC, Depreciation, Transport, Adjustment, Credit, NYSE, D-Wave, Video game, Bank, Security (finance), Coal, Cryptocurrency, Sales, LEAP

Revenue: Revenue for the second quarter of fiscal 2023 was $1.7 million, an increase of $336,000, or 25%, from fiscal 2022 second quarter revenue of $1.4 million.

Key Points: 
  • Revenue: Revenue for the second quarter of fiscal 2023 was $1.7 million, an increase of $336,000, or 25%, from fiscal 2022 second quarter revenue of $1.4 million.
  • Bookings1: Bookings for the second quarter of fiscal 2023 were $2.5 million, an increase of $1.5 million, or 146%, from fiscal 2022 second quarter bookings of $1.0 million.
  • Average Deal Size2: During the second quarter of fiscal 2023, D-Wave’s average deal size per booking increased by 136% when compared to the second quarter of fiscal 2022.
  • GAAP Gross Profit: GAAP gross profit for the second quarter of fiscal 2023 was $705,000, a decrease of $46,000, or 6%, from the second quarter of fiscal 2022 GAAP gross profit of $751,000, with the decrease due primarily to higher stock-based compensation expenses in cost of sales in the second quarter of fiscal 2023.

Radius Global Infrastructure Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 9, 2023
Residential Building & Real Estate, Commercial Building & Real Estate, Technology, Construction & Property, Telecommunications, External commercial borrowing, Investment, Tripura Merger Agreement, Tax, Radius, Public, GAAP, USD, Mergers and acquisitions, EQT, Public Sector Pension Investment Board, Security (finance), PSP, EURIBOR, Cryptocurrency, Bank

Radius Global Infrastructure, Inc. (Nasdaq: RADI) (“Radius” or the “Company”), one of the largest international owners and acquirors of real property interests and similar contractual rights underlying essential digital infrastructure assets, today reported financial results for the quarter ended June 30, 2023.

Key Points: 
  • Radius Global Infrastructure, Inc. (Nasdaq: RADI) (“Radius” or the “Company”), one of the largest international owners and acquirors of real property interests and similar contractual rights underlying essential digital infrastructure assets, today reported financial results for the quarter ended June 30, 2023.
  • Bill Berkman, Co-Chairman and CEO of Radius Global Infrastructure, commented:
    “We generated quarterly Revenue of $42.5 million in the second quarter of 2023, up 30% from the second quarter of 2022, with Gross Profit increasing to $40.0 million, up 31% year-over-year.
  • In the second quarter, our Annualized In-Place Rents increased by 34% year-over-year to $176.7 million.
  • In the second quarter, we invested $110.9 million to acquire 223 communication sites that are generating $8.3 million of annual rent.

Sandbrook Capital, Alongside PSP Investments and IMCO, Announces Agreement to Acquire NeXtWind, a Leading German Renewable Energy Company

Retrieved on: 
Wednesday, August 9, 2023
Other Energy, Environment, Finance, Alternative Energy, Energy, Asset Management, Climate Change, Professional Services, LLP, Military, Reserve Forces and Cadets Association, Public Sector Pension Investment Board, Partnership, Senior, Investment, Infrastructure, E.ON, Public, The Royal Canadian Mounted Police in Quebec, Risk management, Government, Alberta Investment Management Corporation, Public Affairs Branch (Canadian Forces), Wind, Natural Resources, STEAG, Federal Public Service Foreign Affairs, Public sector, Acquisition, Capital, Government of Canada, Public service, Entrepreneurship, Growth, IMCO, PSP, Farm, Financial services, Renewable energy, Sandbrook, Vattenfall

Following the transaction and with a significantly strengthened balance sheet, NeXtWind will be well positioned to execute on its strategy of acquiring and repowering German wind assets and becoming a leading renewable energy company in Germany and beyond.

Key Points: 
  • Following the transaction and with a significantly strengthened balance sheet, NeXtWind will be well positioned to execute on its strategy of acquiring and repowering German wind assets and becoming a leading renewable energy company in Germany and beyond.
  • Germany is the largest onshore wind market in Europe with ~58GW of installed capacity at the end of 2022.
  • It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments.
  • Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong.