AROUND THE VALLEYS

SAN FERNANDO VALLEYCALABASASNetSol Technologies Inc. has joined the Consumer Bankers Association as an associate member. The supplier of software to the vehicle and equipment financing and leasing markets said the trade association represents the nation’s largest financial institutions and the top providers of goods and services to banks. NetSol’s scalable products help banks and financial institutions to effectively manage their lending and leasing portfolios. The company’s premier platform, NFS Ascent, is a proven product for banks and the evolving finance and leasing industry, the company said in a release.ENCINOThe nonprofit organization Local Initiatives Support Corp. Los Angeles announced the launch of the Black Business Excellence Technical Assistance Initiative to support Black-owned personal care businesses in L.A. County. Partnering with Pacific Premiere Bank, which has a branch in Encino and the James Irvine Foundation in Los Angeles, the BBET program will select annual cohorts of Black-owned beauty, health and wellness businesses to support with one-on-one business advising, networking opportunities and business education. Thirty businesses will be accepted for the first round. “We are proud to launch the BBET Initiative to support Black-owned small businesses and achieve our broader goals by providing economic opportunities for diverse communities,” Local Initiatives Support Corp. L.A. Executive Director Tunua Thrash-Ntuk said in a statement. “Black- owned personal care businesses were some of the hardest hit during the COVID-19 crisis – and we believe this program will help the most impacted communities to thrive.” Zevia beverage company is now trading on the New York Stock Exchange under the ticker ZVIA. The plant-based drink company has grown to include 37 flavors and six product lines since its 2007 founding and is available in more than 25,000 retailers in the U.S. and Canada. Zevia products, including its natural soda line, are zero-calorie, sugar-free, gluten-free, vegan, certified Kosher and certified by the Non-GMO Project.PORTER RANCHLos Angeles County Board of Supervisors unanimously voted to urge the California Public Utilities Commission to stop Southern California Gas Co. from expanding its natural gas storage capacity at its Aliso Canyon facility. Any increase in gas storage limits at Aliso Canyon would defy the directive by Gov. Gavin Newsom for the CPUC to identify pathways for closing the facility, according to a press release from an environmental group. Christine Detz, a spokesperson for SoCalGas, said that the utility worked with independent experts and state regulators to redesign Aliso Canyon to be state of the art, and as a result SoCalGas’ storage facilities are the safest in the nation. “Aliso Canyon continues to play a vital role in the resiliency of California’s energy system, supporting the decarbonization of electricity during the peaks and valleys of solar and wind supply,” Detz wrote in a statement. The Aliso Canyon natural gas storage facility, located near Porter Ranch in the north San Fernando Valley, was the site of the nation’s largest natural gas leak. The leak began in October 2015 and was finally plugged in February 2016. SoCalGas is owned by Sempra Energy in San Diego and is the largest natural gas distribution utility in the U.S., serving nearly 22 million customers.  WOODLAND HILLSWoodland Hills-based Eyenuk Inc., an artificial intelligence medical technology company, will deploy its EyeArt AI system in four hospitals in Vietnam. The EyeArt AI system is the first FDA approved AI technology used for detection of vision-threatening diabetic retinopathy. The system’s fast and accurate capabilities allow physicians to identify referable diabetic retinopathy patients during a regular exam. Deployment of the system in Vietnam will be funded by the Fred Hollows Foundation. “We are excited to implement the EyeArt AI system,” Pham Quoc Anh, Vietnam country manager for the foundation, said in a statement. “It will help us reach our goal to protect the vision of approximately 6 million people with diabetes living in Vietnam.” CONEJO VALLEYTHOUSAND OAKSThousand Oaks-based Amgen Inc. announced that it will acquire private biotechnology company Teneobio in exchange for $900 million in cash. The agreement also includes future contingent milestone payments that will go to Teneobio equity holders worth up to an additional $1.6 billion in cash. The acquisition of Teneobio and its proprietary antibody technologies will enrich Amgen’s existing antibody capabilities. In addition to those capabilities, Amgen will also bolster its BiTE immuno-oncology platform with Teneobio’s T-cell engager platform. “The acquisition of Teneobio will strengthen our ability to develop innovative medicines to treat patients with serious illnesses and to bring to market best-in-class products, particularly with respect to multispecific and bispecific medicines directed against targets in a wide range of diseases across our core therapeutic areas,” Dr. David Reese, executive vice president of research and development at Amgen, said in a statement. The acquisition is expected to close later this year.Teledyne Controls, a subsidiary of Teledyne Technologies Inc., obtained Federal Aviation Administration approval for installation of its aircraft cabin environment sensor on the Airbus A320 aircraft. This follows by four months the approval of the FAA to use the sensor from the El Segundo subsidiary on the Boeing 737 series aircraft. The sensor allows aircraft operators to monitor and measure air quality in the cabin and cockpit. Teledyne Controls is the aircraft data management business of Teledyne Technologies Inc., the aerospace, marine and digital imaging products manufacturer. George Bobb, president of the Teledyne aerospace and defense electronics segment, said that having the sensor, known as ACES, approved for both the 737 and A320 is a significant step forward. “It gives airline executives, engineering and maintenance teams the ability to monitor cabin air quality on a large portion of the world’s aircraft flying today with a solution ready to deploy,” Bobb said in a statement.Ember Technologies Inc., a maker of a temperature-controlled smart mug, has signed a lease for 25,624 square feet of office space at One Westlake in Thousand Oaks. The move will triple Ember’s headquarters space. Ember, which has been located at 4607 Lakeview Canyon Road in Westlake Village, will move to the first floor of One Westlake, located at 1 Baxter Way. The company, led by LED technology pioneer Clay Alexander, started in the fall of 2016 with the introduction of a temperature-controlled mug that was distributed through Starbucks shops.

VENTURA COUNTYThe board of the Southern California Regional Rail Authority has named Darren Kettle chief executive of Metrolink, the commuter rail service. Kettle is the current executive director of the Ventura County Transportation Commission, which is one of five regional transportation agencies that govern Metrolink. He has headed the VCTC since 2007. He will start at Metrolink on Sept 7. “Over the years I’ve had the chance to work with Metrolink as a regional partner,” said Kettle in a statement. “Now, I look forward to leading the executive team.” At Metrolink, Kettle will lead a regional passenger railroad that services 62 stations in six southern California counties across a 538-mile network. The system’s coverage includes two rail lines in the Valley region, one from Ventura and another from the Antelope Valley. Kettle replaces Stephanie Wiggins, who became chief executive of the Los Angeles County Metropolitan Transportation Authority, or Metro, in May.

CAMARILLOSan Diego-based industrial real estate investment firm Westcore has expanded its property portfolio with the $20 million acquisition of a warehouse located at 201 Flynn Road, which spans 117,342 square feet and has a tenant leased for eight years. A 231-foot backyard, full drive-around capabilities and two separated ingress and egress points were among the features that made the warehouse attractive to Westcore, according to a company statement. “The functional, low-coverage nature of this property, along with a solid income stream, provides tremendous versatility for future re-tenanting or possible redevelopment, Mike Metzger, director of acquisitions at Westcore, said in a statement.

— Compiled by Michael Aushenker