Daily Business Report: Wednesday, April 26, 2023
UCSD part of new collaborative research center
to optimize development of tandem solar modules
By Liezel Labios | UC San Diego
The U.S. Department of Energy Solar Energy Technologies Office (SETO) announced that a team of researchers, led by MIT and including the University of California San Diego, has been selected to receive a $11.25 million cost-shared award to establish a new research center that will advance the development of next-generation solar cells for commercial use.
A collaborative effort with lead industry participant CubicPV, solar startup Verde Technologies, and Princeton University, the center will bring together teams of researchers to support the creation of what are known as perovskite-silicon tandem solar modules. These are solar cells made of stacked materials—silicon paired with perovskites—that together absorb more of the solar spectrum than single materials, resulting in a dramatic increase in efficiency. Their potential to generate significantly more power than conventional solar cells could make a meaningful difference in the race to combat climate change and the transition to a clean-energy future.
San Diego ready to put City Hall
complex on the market
San Diego will soon ask development teams to bring to the table their best offers for the downtown municipal complex that includes City Hall. Monday, San Diego City Council members voted 8-to-1 to declare five blocks of central real estate surplus and advertise the parcels for sale or lease under California’s Surplus Land Act. The vote also gives staff the OK to start a separate process for erecting an all-new City Hall on a sixth block, and allocates $2 million in general fund money for consultants.
Taken together, the actions put Mayor Todd Gloria’s Civic Center Revitalization effort in motion with a two-pronged approach meant to secure all-new facilities for city workers and a substantial amount of residential units reserved for low-income families.
Large block industrial leasing
sees pullback in San Diego
San Diego’s industrial market saw three leases greater than 50,000 square feet signed during the first quarter of 2023, an acute slowdown from the 10 signed in fourth quarter 2022 and the 12 signed during the first quarter 2022. That’s according to JLL’s Industrial Insight report by Logan Hood, JLL Research Analyst.
Logistics companies accounted for 46 percent of total leasing volume in Q1, highlighted by RL Jones’ relocation within the Otay Mesa submarket where 44 percent of market-wide leasing volume was concentrated.
Although large block leasing had a leisurely start to the year, the back half of 2023 is expected to pick up with 51 tenant requirements larger than 50,000 square feet actively engaged in the market, according to JLL.
A $5 billion request for California public transit
By Lynn La
Now we know the price tag to keep California public transit agencies from going over a fiscal cliff – $5.15 billion over five years.
As part of a budget proposal unveiled Tuesday in the state Senate, transit agency officials and their supporters in the Legislature are seeking “bridge funding” for transit systems throughout the state, some of whom are struggling to recover ridership after the pandemic.
The proposal is being championed by Sen. Scott Wiener, a Democrat from San Francisco, who said that without the state cash, BART and other big-city transit systems will have to make drastic service cuts.
The California Transit Association, which says the plan was created by 15 member agencies, says the $5.15 billion over five years for transit operations can come from a mix of funding sources that already support transit:
• $1.35 billion additional funds from the diesel fuel tax;
• $2.5 billion from unallocated cap-and-trade revenue;
• $300 million from transit development projects;
• $1 billion from future funding for operations.
NCTD and SANDAG awarded $100 million
for San Dieguito Bridge Replacement
OCEANSIDE — The North County Transit District (NCTD) and San Diego Association of Governments (SANDAG) announced the award of a $100 million grant from the State of California Transit and Intercity Rail Capital Program to advance Phase II of the San Dieguito Bridge Replacement, Double Track and Special Events Platform Project. The project will replace a 107-year-old bridge in Del Mar, add 0.9 miles of double track in the area, and construct a special events platform at the Del Mar Fairgrounds. The project makes needed improvements to the Los Angeles-San Diego-San Luis Obispo intercity rail corridor, which is the second busiest rail corridor in the nation.
General Atomics’ SeaGuardian drone featured
in U.S. Navy’s Group Sail Exercise
The U.S. Navy’s Group Sail Exercise, held over a six-day period in Hawaiian military operating areas, featured one of the world’s most advanced Unmanned Aircraft Systems (UAS) — the MQ-9B SeaGuardian supplied by San Diego’s General Atomics Aeronautical Systems Inc. (GA-ASI).
SeaGuardian conducted maritime Intelligence, surveillance and reconnaissance, anti-submarine warfare, long range fires, and simulated battle damage assessment as part of Group Sail, which supported Carrier Strike Groups FIFTEEN and ONE.
During the exercise, which ran April 12-17, 2023, SeaGuardian integrated with U.S. Navy ships (carriers, cruisers, and destroyers) and aircraft to support various naval missions.
San Diego County restaurants
can apply for $5,000 grants
The California Restaurant Foundation is offering $5,000 grants to San Diego County restaurants that require upgrades to kitchen appliances or their website. The Restaurant Care Resilience Fund is a partnership with the California food industry trade group and California utility companies, Southern California Gas, Pacific Gas & Electric, and San Diego Gas & Electric. The fund totals $2.1 million and will award larger grants to 366 restaurants across California. Eligible restaurants must have less than $3 million in annual revenue and be a customer of SDG&E. Priority will be given to restaurants owned by women and people of color.
To apply, visit the California Restaurant Foundation’s website at restaurantscare.org/resilience.
Sharon Covitt appointed vice president
of product success for Procede Software
SAN DIEGO — Procede Software, a leading heavy-duty commercial vehicle dealer management system and solutions provider, announced the appointment of Sharon Covitt as vice president of product success.
Covitt, who has been with the company for 19 years and previously served as vice president of implementation, will lead the enhancement and adoption of Excede Additional Solutions.
The appointment highlights the company’s commitment to ensuring its customers maximize their investment in Excede. Covitt will become a core member of the Product department.
California serves as global or U.S. headquarters
for 35 Israeli-founded unicorns
MIAMI — California now serves as the global or U.S. headquarters for 35 Israeli-founded unicorns – privately held companies valued at $1 billion or more – according to the United States – Israel Business Alliance. Anchored by a dynamic cluster in Silicon Valley, the 35 Israeli-founded unicorns mark the most ever in a single state at one time. The 35 Israeli-founded unicorn companies have combined to create some 31,985 direct jobs around the world, an average of 914 jobs per company. The five largest job creators are Armis (5,000), Navan (3,000), SpotOn (2,526), Deel (2,464), and Gusto (2,424).
Bloom Science completes enrollment
in trial of therapy for Dravet Syndrome
SAN DIEGO — Bloom Science Inc., a clinical-stage, central nervous system company focused on developing breakthrough therapeutics that target the Gut-Brain Axis, has completed enrollment in all four cohorts of healthy adult participants as part of its Phase 1 clinical trial. Bloom is developing BL-001 for Dravet syndrome, a rare pediatric epilepsy that significantly impacts individuals throughout their lifetime. The primary objective of this study is to evaluate the safety and tolerability of BL-001. A total of 32 healthy adult volunteers have been enrolled.
The Noble Paperie partners with CooperSurgical
to support families struggling with infertility
SAN DIEGO — CooperSurgical, a global leader in fertility and women’s health, announced a partnership with San Diego-based The Noble Paperie, which makes cards and paper products dedicated to supporting families along their journeys through miscarriage, infertility, and birth. This partnership will start with three cards designed specifically for friends and family to send to women and men dealing with infertility and are available for sale today in honor of National Infertility Awareness Week. CooperSurgical will match 50 percent of proceeds from the cards sales in a donation to RESOLVE: The National Infertility Association.
‘Survivor’ winner donates $100,000
to veterans exploring treatment solutions
SAN DIEGO — “Survivor” season 43 winner Mike Gabler has donated $100,000 of his $1 million prize winnings to Veterans Exploring Treatment Solutions (VETS), a nonprofit providing resources, research, and advocacy for U.S. special operations military veterans seeking mental health treatment with psychedelic-assisted therapies. Gabler selected 10 veteran organizations to split his winnings with —highlighting nonprofits that help former service members with PTSD and traumatic brain injury (TBI) who are at risk of suicide.Mike Gabler’s donation was made on behalf of his father, Robert Gabler, who was a Green Beret.
Zerigo Health launches newest addition
of treatment for chronic skin conditions
SAN DIEGO — Zerigo Health announced the launch of the Zerigo 2.0 ecosystem — the newest iteration of its digital health platform for the treatment and management of chronic skin conditions like eczema and psoriasis to employers, health plans, and their providers across the U.S. The Zerigo Health ecosystem works together to support a patient’s success, including a personal, clinical-grade, FDA-cleared, handheld, Smart UVB Light Therapy device, Zerigo smartphone app, access to ZerigoCare Guides for personal coaching and support, and access to a network of virtual care providers for clinical assessment.
QDOBA Mexican eats celebrates
return of seasonal Mango Salsa
SAN DIEGO — QDOBA announced the historic return of a fan-favorite menu item and perfect complement for seasonal meals: bold and bright Mango Salsa! After a four-year hiatus, a leading fast casual Mexican brand is inviting guests to enhance their entrées or sides of chips with the sweet, tropical flavor of this seasonal salsa — available now for a limited time. Mango Salsa is made in-house daily with ripe mangoes, juicy tomatoes, crisp red onion, jalapeno, lime juice and cilantro.
Adcentrx Therapeutics completes
$38 million Series A financing
SAN DIEGO — Adcentrx Therapeutics, a biotechnology company dedicated to revolutionizing Antibody-Drug Conjugate (ADC) therapeutics for cancer and other life-threatening diseases, announces the closing of a $38 million Series A+ financing. The round was led by Eight Roads Ventures, wth participation from F-Prime Capital, ABio-X, Delta Capital, Trinity Innovation Fund, and other strategic investors. Life Venture Partners and Lighthouse Capital acted as Adcentrx’s financial advisors. Adcentrx intends to use the proceeds to advance its proprietary ADC therapeutic pipeline into the clinic.
Lennox-Gastaut Syndrome Foundation
launches LGS Treatment Kits
SAN DIEGO — The Lennox-Gastaut Syndrome Foundation announce the launch of its About LGS Treatments Kits. The first of its kind, this kit shares information about available treatments for seizures in LGS and tips on maximizing time with the specialists and the health care team. LGS is a rare, severe, life-threatening, epilepsy syndrome that develops in children and leads to lifelong disability. The LGS Foundation is the only global organization dedicated to improving the lives of individuals and families impacted by LGS through advancing research, awareness, education, and family support. Click here to learn more about the kits.
