logo
$100,000 Marathon Petroleum Grant To Help Bridge a Digital Divide in El Paso

$100,000 Marathon Petroleum Grant To Help Bridge a Digital Divide in El Paso

Key Points
An effort to expand broadband internet access in an underserved area of El Paso, Texas, has gained momentum through a $100,000 grant from Marathon Petroleum Corporation's (MPC) El Paso refinery. The funds will support Project Overcome, which focuses on the 79901 ZIP code where limited internet availability exists.
'This ZIP code faces some of the deepest digital and economic divides in the region,' said Andrea Tirres, CEO of Borderplex Connect, the nonprofit recipient and supporting organization of the El Paso Community Foundation. 'An astounding 44% of households have no internet subscription at all, while about 27% of households rely on their cellular subscription to access the internet according to data from the U.S. Census Bureau and the U.S. Department of Commerce.'
'This ZIP code faces some of the deepest digital and economic divides in the region.'
Project Overcome is expected to begin later this year. It will provide the infrastructure needed to deliver high-speed internet service to a targeted section of the 79901 ZIP code.
'This assistance is among our more important investments in El Paso because it will link so many residents with resources and opportunities that they've never had before,' said MPC Principal Corporate Social Responsibility & Community Relations Representative V.J. Smith.
Borderplex Connect is a regional coalition of public, private and nonprofit organizations that promotes broadband accessibility and affordability across far West Texas and southern New Mexico. Along with expanding internet service, the coalition supports digital skills training, distribution of devices that connect to the internet, and access to affordable internet for low-income residents and rural households.
'Working with Borderplex Connect reinforces MPC's broader commitment to promote thriving communities where we operate by addressing basic needs and fostering economic progress,' Smith said.
Visit 3BL Media to see more multimedia and stories from Marathon Petroleum
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

DuPont Lifts Outlook On Strong Demand In Key Markets
DuPont Lifts Outlook On Strong Demand In Key Markets

Yahoo

time3 minutes ago

  • Yahoo

DuPont Lifts Outlook On Strong Demand In Key Markets

DuPont de Nemours, Inc. (NYSE:DD) stock gained on Tuesday after it beat second-quarter expectations on both earnings and revenue and raised its full-year adjusted earnings outlook, citing strong demand across electronics, healthcare, and water markets. The company reported adjusted earnings per share of $1.12 for the quarter, above the $1.06 analyst estimate. Net sales rose 3% year-over-year to $3.26 billion, topping the $3.23 billion consensus. Sales growth was driven by a 4% increase in volume, partially offset by a 2% decline in price. Organic sales rose 2%. Also Read: GAAP income from continuing operations was $238 million, or 54 cents per share, compared with $176 million, or 40 cents per share, in the same period last year. Adjusted EPS rose 15% from the prior-year quarter, driven by higher segment earnings and a lower tax rate. Operating EBITDA increased 8% to $859 million, with margin expanding 120 basis points to 26.4%. Cash provided by operating activities from continuing operations totaled $381 million. After $116 million in capital expenditures and $168 million in separation-related transaction costs, transaction-adjusted free cash flow reached $433 million. View more earnings on DD ElectronicsCo reported a 6% increase in sales to $1.17 billion, supported by 8% volume growth. Semiconductor Technologies grew in the mid-single digits, while Interconnect Solutions rose in the high-single digits. Segment operating EBITDA rose 14% to $373 million, with margin improving 220 basis points to 31.9%. IndustrialsCo sales increased 1% to $2.09 billion, with 2% volume growth offset by a 1% price decline. Healthcare & Water Technologies grew in the high single digits, while Diversified Industrials declined due to ongoing weakness in construction markets. Segment operating EBITDA rose 3% to $509 million, with margin improving 50 basis points to 24.4%. DuPont ended the quarter with $1.84 billion in cash and $5.33 billion in long-term debt. The company confirmed it remains on schedule for the planned Nov. 1, 2025, spin-off of its Electronics business, Qnity. CEO Lori Koch stated, "Ongoing strength in electronics, healthcare and water end-markets, along with our team's focus on operational execution continued to drive strong earnings growth and cash conversion." Outlook The company raised its full-year 2025 adjusted EPS guidance from a prior range of $4.30–$4.40 to approximately $4.40, exceeding the $4.26 analyst estimate. It also narrowed its full-year net sales forecast from $12.80–$12.90 billion to $12.85 billion, ahead of the $12.78 billion consensus. Guidance now includes a $20 million headwind from tariffs, or 4 cents per share. For the third quarter, DuPont expects adjusted EPS of $1.15 and revenue of $3.32 billion, ahead of analyst estimates of $1.13 and $3.29 billion, respectively. Price Action: At last check Tuesday, DD shares were trading higher by 5.9% to $74.52 premarket. Read Next:Photo by Sundry Photography via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? DUPONT DE NEMOURS (DD): Free Stock Analysis Report This article DuPont Lifts Outlook On Strong Demand In Key Markets originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio

AI startup by Columbia graduates raises $7 million to target midsize law firms
AI startup by Columbia graduates raises $7 million to target midsize law firms

Yahoo

time3 minutes ago

  • Yahoo

AI startup by Columbia graduates raises $7 million to target midsize law firms

By Niket Nishant (Reuters) -August, an AI startup founded by Columbia University alumni and that caters to midsize law firms, said on Tuesday it had raised $7 million in a seed funding round led by venture capital firms NEA and Pear VC. WHY IT MATTERS AI's ability to handle routine, document-heavy tasks is unlocking new efficiencies for lawyers, particularly because the legal field is built on vast volumes of literature such as case law, contracts and filings. By automating time-consuming paperwork, AI platforms such as August are freeing up lawyers to focus on higher-value work. It also helps to cut costs, a crucial benefit for midsize law firms that lack the resources of their deep-pocketed rivals. CONTEXT August was founded in 2023 by Rutvik Rau, Thomas Bueler-Faudree and Joseph Parker, who met at Columbia University. Besides NEA and Pear VC, the startup secured backing from angel investor Gokul Rajaram, Ramp's vice president of product Geoff Charles, OpenAI's head of engineering David Azose and Bain Capital Ventures partner Kevin Zhang. The company is based in New York and currently has a team of 12. It expects to expand the workforce to 25 to 30 by the end of the year, Rau told Reuters in an interview. August operates in a competitive arena dominated by some established players, most notably Harvey, an OpenAI-backed legal AI startup, which caters to elite law firms and big professional services companies. KEY QUOTES "The future is one where AI partners with individuals to be a step further than where the industry is today," Rau said. "We're enabling lawyers to be more productive by eliminating some of the work, so they can actually spend a lot more time working with their clients, understanding their needs and being the strategic value partner for them."

Modular building startup Boxabl to list on Nasdaq in $3.5 billion SPAC deal
Modular building startup Boxabl to list on Nasdaq in $3.5 billion SPAC deal

Yahoo

time3 minutes ago

  • Yahoo

Modular building startup Boxabl to list on Nasdaq in $3.5 billion SPAC deal

(Reuters) -Modular building startup Boxabl will go public in the U.S. through a $3.5 billion merger with special purpose acquisition company FG Merger II, the companies said on Tuesday. Modular housing is widely recognized for its potential to deliver affordable, timely, and scalable housing solutions in both emergency and market-driven contexts. Innovation in the housing market – a segment of the economy most sensitive to monetary policy – is also necessitated by rising housing prices, which hit a record high in June amid elevated interest rates and supply crunch. The deal will allow Boxabl to expand its production capabilities and meet growing demand for its modular building systems, as well as invest in research and development. Founded in 2017, Las Vegas-based Boxabl designs and manufactures foldable, modular homes. Known for its foldable 361 square foot "Casita" homes, some of the company's housing models can be purchased for as little as $19,999. Boxabl is led by founders and co-CEOs Paolo and Galiano Tiramani. FG Merger will issue 350 million shares to Boxabl. SPACs, also known as blank-check firms, raise capital through an initial public offering with the sole purpose of taking a private company public. Listing shares via SPAC mergers allows companies to avoid some scrutiny that comes with the traditional IPO process. Boxabl, which has raised over $230 million to date, has previously also used crowdfunding to raise capital, an alternative fundraising strategy that allows small everyday investors to buy shares in a company. The company also adopted a bitcoin treasury strategy in May, allowing for a percentage of its assets to acquire the cryptocurrency. The combined company will be listed on the Nasdaq under the symbol "BXBL." Maxim Group and Winston & Strawn advised Boxabl, while Loeb & Loeb advised FG Merger. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store