Daily Business Report: Wednesday, Jan. 18, 2023
$51 million in state funds helped erase overdue
bills for 113,000 eligible SDG&E customers
Approximately 113,000 San Diego Gas & Electric customers who fell behind in paying their energy bills during the initial years of the COVID-19 pandemic recently received debt relief through the California Arrearage Payment Program (CAPP), which erased a total of $51.3 million in overdue balances they incurred between March 4, 2020 and Dec. 31, 2021. CAPP funds were automatically applied to eligible customers’ accounts over the weekend, according to eligibility rules set by the state. The amount of CAPP credit will be shown on customers’ next bill.
This is the second round of CAPP funding that SDG&E, working in collaboration with local Community Choice Aggregation programs, has applied for and secured from the state to assist their mutual customers. The first round of funding was credited to more than 93,000 eligible customers’ accounts in February 2022, eliminating $62.5 million in overdue bills incurred between March 4, 2020, and June 15, 2021.
Race to zero: Can California’s power grid
handle a 15-fold increase in electric cars?
By Nadia Lopez | CalMatters
As California rapidly boosts sales of electric cars and trucks over the next decade, the answer to a critical question remains uncertain: Will there be enough electricity to power them?
State officials claim that the 12.5 million electric vehicles expected on California’s roads in 2035 will not strain the grid. But their confidence that the state can avoid brownouts relies on a best-case — some say unrealistic — scenario: massive and rapid construction of offshore wind and solar farms, and drivers charging their cars in off-peak hours.
Under a groundbreaking new state regulation, 35 percent of new 2026 car models sold in California must be zero-emissions, ramping up to 100 percent in 2035. Powering the vehicles means the state must triple the amount of electricity produced and deploy new solar and wind energy at almost five times the pace of the past decade.
Salary transparencies spur universities
to pay females more equitably
When pay information is made public, it incentivizes institutions to pay women more fairly
By Christine Clark
Publicly available salary information prompts organizations to reduce the gender pay gap, according to a new study from the University of California San Diego’s School of Global Policy and Strategy.
The research counters previous assumptions that salary transparency creates more equal pay because it allows individual employees to negotiate for higher compensation.
“We find that when there is a standardization process that makes searching for compensation information very easy, then organizations as a whole have an incentive to improve equality to reduce the threat of public scrutiny,” said Elizabeth Lyons,
associate professor of management at the School of Global Policy and Strategy and coauthor of the study.
USD Clean Fuels to develop new
biofuels terminal in National City
USD Clean Fuels LLC announced its intention to build a new biofuels terminal in National City that will have the capability to transload renewable diesel, biodiesel, ethanol and sustainable aviation fuel. The terminal will be served by the BNSF Railway and will provide efficient transportation of clean fuels to the area from the Midwest and US Gulf Coast. Pending receipt of all local and state permits, the terminal is expected to be operational by early 2024.
The terminal development is supported by two investment-grade rated parties that signed long-term Terminal Service Agreements. The Terminal Services Agreements provide for the inbound shipment of renewable diesel, biodiesel, ethanol and SAF on rail, self-switching of the rail rack and four truck loading spots that are equipped with in-line injection capabilities to provide quality finished products to customers.
Melody Moore appointed artistic
administrator at San Diego Opera
Melody Moore has been appointed to the position of artistic administrator at San Diego Opera after a national search.
The artistic administrator serves as an adviser to the general director, bringing their knowledge of technique and repertoire to assist in casting decisions.
The position negotiates and issues contracts for the company’s principal artists, directors and conductors, working with them and their managers to meet all needs related to their engagement at San Diego Opera.
While she is joining the administrative side of the opera business, Moore is a well-known soprano enjoying a thriving career in the recording studio and on the world’s leading stages.
This new opportunity with the company allows her to head artistic administrative matters while still using her extraordinary voice to continue storytelling in a way that is unique to her.
Chamber of Commerce award recognizes
SDSU’s leadership in binational collaboration
San Diego State University last week was recognized at the 2022 International Tribute Awards for its commitment and ongoing contribution to cross-border collaboration. Presented by the San Diego Regional Chamber of Commerce, the awards honor outstanding leaders who have championed efforts to develop and strengthen diplomatic economic, cultural, educational and community ties between the U.S. and Mexico.
Ramona Pérez, director of the Center for Latin American Studies and professor of anthropology, and Maria Keckler, director of international affairs strategy and communications and lead architect of the RE: Border Binational Conference,
received the Cross-Border Collaboration Award. Both were honored for their roles in leading collaboration with a variety of stakeholders across the border that resulted in the inauguration of the SDSU Oaxaca Center for Mesoamerican Studies in Oaxaca and four years of RE:BORDER annual conferences, which take place on both sides of the border.
Trial attorney Gilson Gray joins
Seltzer Caplan McMahon Vitek
Gilson B. Gray has joined the Litigation Department of San Diego law firm Seltzer Caplan McMahon Vitek as of counsel.
A seasoned trial lawyer, Gray has extensive experience in the courtroom and is a polished and skilled advocate.
His practice focuses on a variety of civil litigation and white-collar defense areas including appellate matters.
He has successfully tried over 40 cases to jury verdict and resolved thousands of cases through negotiations, pretrial briefings and investigations.
Prior to joining SCMV, Gray worked as a deputy public defender in San Diego defending clients facing misdemeanor and felony criminal charges and minors in juvenile proceedings.
He also specialized in appellate matters, representing clients seeking post-conviction relief.
Infinium Spirits announces
Jan Tharp as new president
SAN DIEGO — Infinium Spirits Inc., a global premium spirits company based in San Diego, announces the appointment of Jan Tharp as president.
Tharp is a highly experienced, inspirational leader in the CPG industry who has led and developed teams for over 20 years, achieving significant business transformation.
Tharp most recently served as president and CEO of the 123-year-old, iconic branded seafood company, Bumble Bee Seafoods with over $1 billion in global revenues.
During her tenure in this role, she led the team through the development of a transformational corporate strategy with a focus on growth and innovation and successfully expanded the presence of its international portfolio of brands.
Prior to being named President and CEO, she held the role of Executive Vice President and Chief Operating Officer.
Phanes Therapeutics’ anti-claudin
antibody patent granted in the U.S.
SAN DIEGO –Phanes Therapeutics, Inc., a clinical stage biotech company focused on innovative drug discovery and development in oncology, announced that the U.S. Patent and Trademark Office (USPTO) has granted a patent (Patent No. US 11,555,070) for its anti-claudin 18.2 antibodies. The patent relates to the invention of anti-claudin 18.2 monoclonal antibodies and bispecific antibodies comprising an anti-claudin 18.2 arm, which includes Phanes’ first-in-class bispecific antibody, PT886, an anti-claudin 18.2/anti-CD47 bispecific antibody being developed for gastric and pancreatic cancers.
Tri-City Medical Center names
Medline as a prime vendor
CARLSBAD — Medline announced it has entered a multi-year prime vendor partnership, valued at $30 million, with Tri-City Medical Center, serving San Diego County’s coastal communities of Carlsbad, Oceanside and Vista. After partnering with a different distributor for over 15 years, Tri-City will now collaborate with Medline to provide distribution, consultative services and solutions for supply chain optimization. As the system’s primary supplier, Medline will exclusively provide an extensive portfolio of essential medical supplies and solutions to Tri-City Medical Center’s 386-bed full-service acute care hospital.
Biological Dynamics appoints
Peter Wulff as chief financial officer
SAN DIEGO – Biological Dynamics Inc., a company developing and commercializing its proprietary ExoVerita platform for early disease detection and other applications,
announced Peter C. Wulff as chief financial officer. Wulff has over 35 years of financial management experience in both public and privately held companies in emerging growth life sciences. He most recently served as chief financial officer at JenaValve Technology, where he played an instrumental role in the corporate relocation from Germany and subsequent growth of its U.S. operations.
Sony Electronics announces development
of new telephoto full-frame telephoto lens
SAN DIEGO — Sony Electronics announced the development of the long-awaited full-frame E-mount 300mm F2.8 G Master OSS Telephoto Lens, with a target launch date in early 2024. Large-aperture super-telephoto lenses such as the FE 400mm F2.8 G Master OSS and FE 600mm F4 G Master OSS are highly acclaimed by sports and wildlife photographers around the world for their outstanding resolution and autofocus performance, as well as being remarkably lightweight.
Nominations open to nonprofits
for Classy’s Classy Awards
SAN DIEGO –Classy, a giving platform that enables nonprofits to connect supporters with the causes they care about, announced today new details around its collaborative conference and the 9th annual Classy Awards. The Classy Awards will honor 10 Social Innovation award winners and one People’s Choice award winner. To learn more or nominate an organization for the Classy Awards, visit awards.classy.org. All U.S.-based nonprofit organizations are eligible to apply between Jan. 17 and March 7.
Wildcat Discovery signs joint development
pact with BMW Group on high-energy cathode
SAN DIEGO — Wildcat Discovery Technologies, a global leader in accelerating battery innovation, announced an agreement with BMW Group to jointly develop the next-generation Wildcat high energy cathode. The Wildcat cathode, a key component of Wildcat’s recently announced battery “supercell,” will help car makers deliver greater driving range by achieving energy densities 25 percent higher than the best cathodes in vehicles today. The novel Wildcat cathode contains no nickel or cobalt, which are viewed to be challenging in terms of sustainability as well as price volatility.
Tom Panos joins Finoptamus as director of growth strategies
SAN DIEGO — Finopotamus, the only online publication providing in-depth technology coverage exclusively to credit unions, announced the newest addition to its expanding team: Director of Growth Strategies Tom Panos. The publication also recently welcomed Social Media Manager Kelsie Pappenhausen, who has expertly fostered the company’s brand on LinkedIn, Twitter and Instagram. Together, the new hires will build on the successful momentum created since the publication was launched in July 2020.
Calyxt and Cibus announce merger
ROSEVILLE, Minn. and SAN DIEGO — Calyxt Inc., a plant-based synthetic biology company, and San Diego-based Cibus, a leader in precision gene editing in agriculture, announced that both companies have entered into a definitive merger agreement under which Calyxt and Cibus will merge in an all-stock transaction. The merger will create a new industry-leading company that combines the two pioneers in agriculture-based gene editing and establishes one of the world’s most sophisticated facilities for trait development and next-generation plant breeding. Under the terms of the merger agreement, Calyxt will issue shares of its common stock to Cibus shareholders in an exchange ratio such that upon completion of the merger, Calyxt shareholders will own approximately 5 percent of the combined company.
Harvey Hershkowitz appointed
chairman and CEO of Genefic
SAN DIEGO – Dalrada Financial Corporation, a problem-solving innovator that takes on complex, multi-disciplinary challenges in health care, clean energy, precision manufacturing, and technology, announced the appointment of Harvey Hershkowitz as chairman and chief executive officer of Genefic (formerly Dalrada Health). Hershkowitz has served as a board member of Dalrada Financial Corporation since July 2020, where his extensive track record in business and the health care industry has furthered Dalrada’s global vision and business expansion strategy.
