Daily Business Report: Thursday, Sept. 9, 2021
Corn checkoffs commit $1.25 million to increase
E85 fuel availability to California fuel retailers
The Nebraska Corn Board (NCB), along with the corn checkoff programs from Kansas and Missouri, will provide California fuel retailers $1.25 million over the next year to increase availability of E85, an 85 percent ethanol blend fuel. Fuel will be supplied by Pearson Fuels, the largest E85 distributor in California with nearly 250 retail stations located throughout the state.
Growers from the three corn checkoff organizations met with representatives from Pearson Fuels in San Diego in July to discuss potential opportunities to grow E85 demand. California is by far the largest E85 market in the country, accounting for over 40 million gallons in 2020 and is on track to reach 50 million gallons in 2021.
Greg Jones, director of business development with Pearson Fuels, says California remains underdeveloped for E85. The state has 39.5 million people but trails both Iowa and Minnesota in total E85 stations.
TOP PHOTO: Pearson Fuels of San Diego has nearly 250 locations throughout California, including this site near Tulare, California, where the company has its own canopy.
Criminal charges filed against San Diego
man for black-market ivory sales
Fifteen criminal charges have been filed against a San Diego man suspected of trafficking illegal items crafted from the ivory of elephants in defiance of California law.
According to City Attorney Mara Elliott, the investigation began when officers from the California Department of Fish and Wildlife spotted advertisements online offering items for sale that appeared to be made of ivory. Undercover wildlife officers contacted the seller and eventually arranged to meet him in person.
In two separate incidents, Stephen Shu Wang sold thousands of dollars’ worth of ivory to an undercover wildlife officer. The investigation culminated in Department of Fish and Wildlife personnel executing a search warrant at Wang’s home and seizing hundreds of pieces of ivory.
The items intended for sale included ivory chess sets, sections of carved elephant tusk, and a wooden room divider constructed with ivory panels.
A first-time violation of this law is a misdemeanor, subject to criminal penalties of up to a year in jail and fines up to $40,000 per count, depending upon the value of the items.
Former Apple executive Annie Morita
joins Koji as chief operating officer
Koji, an app store for social media, has appointed Annie Morita as chief operating officer to lead the company’s next phase of growth.
Most recently, Morita was an executive with Apple Inc., as the business lead for the Internet Software & Services Division in Greater China, focusing on the App Store and Apple Media Products (Apple Music, iTunes, and Podcasts).
Prior to Apple, Morita served as the head of global interactive for DreamWorks Animation, where she led the company’s gaming efforts, as well as being the lead executive for Oriental DreamWorks, the company’s first-ever joint venture in China.
A marketing and new media veteran, Morita has held top leadership positions at Warner Bros. Studios, Sony Pictures Entertainment, and Electronic Arts where she was a founding member of EA Mobile.
Morita began her career with Turner Broadcasting System Inc. as an assignment editor with CNN International before moving to Hong Kong as the head of marketing for Turner International Far East Ltd., launching both CNN International and TNT & Cartoon Network to the region.
“The same way the introduction of the iPhone and the App Store disrupted incumbents like Nokia and Blackberry, and radically transformed what we do with the device in our pocket, Koji is transforming the entire creator economy to be a more integrated and equitable environment for creators and consumers. The sheer scale of Koji’s vision and velocity of execution is extremely unique, and I am excited to lead the next phases of evolution,” said Morita.
Oceanside to receive $3.5 million federal
grant to help build new fire station
Oceanside will get a $3.5 million federal grant to help build the city’s new downtown fire station because of the location’s proximity to Camp Pendleton. The relocated firehouse on Civic Center Drive will replace the original Fire Station No. 1, built in 1929 on Pier View Way.
Located just 2.3 miles from the main entrance to the Marine Corps base, the city’s Fire Station No. 1 could be called to help extinguish a large fire on the military installation. The new Oceanside site allows a bigger station with more room for firefighters and their equipment, including a ladder truck to protect the six- and seven-stories buildings that are new to downtown Oceanside. The construction project is expected to go out for bids later this year.
Clarissa Falcon of Bonita appointed to
the California Transportation Commission
The Senate Rules Committee, chaired by Senate President pro Tempore Toni G. Atkins (D-San Diego), has appointed Clarissa Falcon of Bonita to the California Transportation Commission.
Falcon is the president and principal consultant for Falcon Strategies.
She previously worked for the California State Senate as a district director and as a public policy analyst for the San Diego Regional Economic Development Corporation.
She is a board member for the University of California, San Diego Chancellor’s Community Advisory Board, the San Diego Union Tribune Community Advisory Board.
Sle also is a board member of the South County Economic Development Council.
The term is for four years. Compensation is $100 per diem and necessary expenses.
“With over 25 years of experience, Clarissa Falcon is a well-respected and collaborative community relations expert and problem solver,” Atkins said.
“Clarissa will help ensure that as our state continues to grow, our transportation infrastructure and policies will serve and improve the quality of life for all Californians.”
Justin Webster joins OWL team as
director of global supply chain
OWL, a collaborative marketplace for sourcing and procurement of temporary housing, announced that Justin Webster, a professional with over 15 years of experience in supply chain, is joining its team as director of global supply chain, contributing to the global expansion of the OWL platform.
Justin, who is based in London, UK, is a renowned professional with progressive leadership experience within the global relocation and destination services industry and has been working with the top relocation and mobility firms for over a decade.
Webster is an expert in vendor and operations management and will bring to the OWL team relevant knowledge in logistics, procurement, and negotiation to assure the best customer service for the global OWL members. He is also highly experienced at implementing processes for improvement, including those related to outsourcing, supplier scorecards/dashboards, and requests for proposals.
Founded in 2020 by Alex Shahabe, San Diego-headquartered OWL provides a marketplace for providers to both source and be sourced for long- and short-term temporary housing.
GoFundMe campaign kicks off drive
to paint the Comic-Con Museum
The Balboa Park Committee of 100, Balboa Park’s oldest support group, is kicking off a GoFundMe campaign with Comic-Con to raise the necessary funds for paint and equipment for the new Comic-Con Museum, which is scheduled to open Nov. 26
City facility crews will then paint the 71,000-square-foot building over the next few weeks. The goal is to raise $20,000 in the next 30 days.
“All it takes is a bucket of paint to make a big difference,” said Roger Showley, president of the Committee of 100.
The building will be painted the historically accurate, original color, a bagel-like hue called “Palisades Tan.”
People can make a direct donation of any amount at the GoFundMe donation site, https://gofund.me/323bb03a. Donors of $50 or more will receive a souvenir Comic-Con pin and tote bag while supplies last.
Originally built as the Federal Building, the building housed exhibits of federal agencies at the 1935-36 California Pacific International Exposition. After the fair, it was an adjunct to the neighboring gym. In the 1990s it was remodeled and expanded to house the Hall of Champions and Sports Museum until 2017. Designed by expo architect Richard Requa, it was modeled after the pre-Columbian Mayan governor’s palace in Uxmal in Mexico’s Yucatan Peninsula.
Cue Health Inc. files registration
statement for proposed IPO
San Diego-based Cue Health Inc., a health technology company, announced that it has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Cue intends to list its common stock on the Nasdaq Global Market under the ticker symbol HLTH. The company was founded in 2010.
Cue is a health technology company that puts consumers in control of their health information and places diagnostic information at the center of care. Cue enables people to manage their health through real-time, actionable and connected health data.
Cue offers individuals, enterprises, government agencies and health care providers access to lab-quality diagnostic testing at home, at work, or at the point-of-care, all in a device that fits in the palm of the hand.
City of La Mesa opts-up to renewable energy
from San Diego Community Power
The City of La Mesa is opting up to San Diego Community Power’s 100 percent renewable Power100 program. SDCP, the not-for-profit community choice energy agency, provides clean, carbon-free, and cost-competitive energy to municipalities, commercial and industrial clients in the member cities of La Mesa, Chula Vista, Encinitas, Imperial Beach, and San Diego.
“This decision to opt-up to Power100 will go a long way towards helping the city achieve our ambitious greenhouse gas (GHG) reduction goals,” said La Mesa Councilmember and SDCP Board member Bill Baber. The city climate action plan calls for community-wide GHG emission reductions of 53 percent by 2035.
SDCP began enrolling municipal customers on March 1, 2021, and commercial and industrial account holders on June 1, 2021. SDCP is now providing reliable, clean energy for nearly 72,000 commercial and industrial accounts representing nearly 60 percent of the forecast energy load. Residential service will begin to roll out in early 2022.
Tiled reports close of a $13.7 million
Series A funding round
Tiled, the interactive content platform, announced the close of a $13.7 million Series A funding round led by Signal Peak Ventures. Signal Peak is joined by Seismic, Adobe, and University Growth Fund, alongside existing investors.
The round of funding follows Tiled’s growing momentum over the past year, with the company experiencing 211 percenr year-over-year growth, increasing headcount by 53 percent, and adding 99 new customers, including brands as diverse as HubSpot, Paycor, Instructure, Skullcandy, and CHRISTUS Health
Tiled’s success has risen in parallel with enterprises’ need for no-code interactive content assembly to close the gap between content authoring and content delivery to improve the experience for creators and consumers.
ADARx raises $75 million to advance
growing drug development pipeline
San Diego-based ADARx Pharmaceuticals Inc., a biotechnology company developing RNA targeting therapeutics, announced the completion of a $75 million Series B financing to advance its drug development pipeline. The Series B was co-led by SR One Capital Management and OrbiMed Advisors. Sirona Capital joined this financing as well as existing investors OrbiMed Advisors and Lilly Asia Ventures.
The proceeds from the Series B financing will be used to advance ADARx’s proprietary RNA platform technologies for base editing, inhibition, degradation, and delivery. The proceeds will also be used to transition ADARx’s growing pipeline of research phase products into the clinic including initiation of a Phase 1 clinical trial for ADARx’s lead program.
National Resilience to manufacture mRNA
for Moderna’s COVID-19 vaccine
National Resilience Inc., a company seeking to build the world’s most advanced biopharmaceutical manufacturing ecosystem, and Moderna Inc., a biotechnology company pioneering messenger RNA therapeutics, today announced an agreement to manufacture mRNA for the Moderna COVID-19 vaccine.
Under the terms of the multi-year agreement, Resilience will produce mRNA for the Moderna COVID-19 vaccine at its facility in Mississauga, Ontario, for distribution worldwide.
“Moderna’s COVID-19 vaccine has saved countless lives, and we’re excited to manufacture mRNA for this important vaccine,” said Rahul Singhvi, chief executive officer of Resilience, which has offices in San Diego. “This collaboration has the potential to ensure more people are protected around the world from the deadly COVID-19 virus.”
