Lineage, Inc. - LINE STOCK NEWS

Lineage, the world's largest temperature-controlled warehouse REIT, received the Rabobank Award for Excellence in Corporate Leadership at the annual Leadership Summit in New York City. The company was recognized for its significant impact in transforming the global food supply chain through its network of over 480 cold-storage facilities across North America, Europe, and Asia-Pacific.

With more than 26,000 team members, Lineage works to eliminate waste and enhance food distribution efficiency. The company's Lineage Foundation for Good has achieved remarkable results, including rescuing over 20 million pounds of food, providing $8.3 million in charitable gifts, and contributing 19,500 volunteer hours.

The award ceremony also recognized The Wonderful Company for Leadership in Sustainability and Flashfood for Emerging Leadership in Innovation. Recipients were selected by an independent panel based on specific criteria for industry stewardship, sustainability, and innovation.

Lineage (NASDAQ: LINE) has announced Ryp Labs as the winner of its 2024 Global Food Chain Innovation Challenge. The company secured a $50,000 grand prize and entry into a six-month executive-led incubator program for their innovative StixFresh solution.

StixFresh is a natural formulation that mimics plant defense mechanisms to slow fruit spoilage, applicable to food-safe labels and stickers. The global competition featured regional winners from three cities: Ryp Labs (San Francisco), Mimica (London) with their 'Bump' temperature-responsive spoilage indicator, and Barbara Šoštarić (Amsterdam) with a visual shelf-life indicator.

The challenge, aimed at students and young entrepreneurs, sought innovative solutions to enhance food supply chain efficiency, sustainability, and resilience. The prize was provided by Lineage Ventures, dedicated to investing in early-stage food supply chain technologies.

Lineage (NASDAQ: LINE) has announced Ryp Labs as the winner of its 2024 Global Food Chain Innovation Challenge. Ryp Labs secured the $50,000 grand prize and entry into a six-month executive-led incubator program for their innovative StixFresh solution. This natural formulation mimics plant defense mechanisms to extend fresh produce shelf-life by slowing down spoilage.

The global competition featured regional winners from three cities: Ryp Labs (San Francisco), Mimica (London) with their 'Bump' temperature-responsive spoilage indicator, and Barbara Šoštarić (Amsterdam) with a visual shelf-life indicator. The challenge aimed to showcase innovative solutions for enhancing food supply chain efficiency and sustainability.

Lineage (NASDAQ: LINE) has partnered with Economist Impact to release the 'Feeding the Future' report, examining the link between food infrastructure and economic development. The research highlights that while enough food is produced to feed 8 billion people daily, approximately 733 million people remain hungry, 3.1 billion cannot afford healthy diets, and 24% of global calories are wasted. The report emphasizes the importance of robust infrastructure, including warehousing, cold storage, and transportation networks, in addressing global food security challenges and reducing waste.

Lineage reported its Q3 2024 financial results, highlighting a successful $5.1 billion IPO in July 2024 - the largest real estate IPO ever. Total revenue increased 0.5% to $1.3 billion, though the company recorded a net loss of $543 million ($2.44 per share). Notable metrics include a 2.1% increase in Total NOI to $439 million, 5.4% growth in Adjusted EBITDA to $333 million, and a 51.8% rise in AFFO to $208 million. The company used IPO proceeds to reduce $4.9 billion of debt and declared an initial quarterly dividend of $0.38 per share. For full-year 2024, Lineage expects AFFO per share of $3.16 to $3.20.

Lineage (NASDAQ: LINE) has announced that it will release its third-quarter 2024 financial results on Wednesday, November 6, 2024, before the market opens. The company has scheduled a conference call for 8:00 a.m. Eastern Time on the same day to discuss these results.

Investors and interested parties can access a live webcast of the call on the Lineage Investor Relations website at ir.onelineage.com. For those unable to attend the live call, an audio replay will be available for one week following the call. Additionally, the webcast will be archived on the company's Investor Relations website for approximately one year.

Mainspring Energy Inc. has announced an agreement with Lineage (NASDAQ: LINE) to deploy 33 Mainspring Linear Generators at five Lineage facilities in Texas. This marks Mainspring's first entry into the Texas energy market, scheduled for installation and operation in 2025. Lineage, the world's largest temperature-controlled warehouse REIT, has previously utilized Mainspring's technology in California and Northeast U.S. states.

The Mainspring Linear Generator offers fuel flexibility, capable of running on 100% hydrogen, biogas, natural gas, and propane without hardware changes. This technology provides local, modular power generation that is dispatchable, low-cost, and scalable to grid-level operations. The partnership aims to enhance Lineage's energy independence, sustainability, and cost control efforts.

Lineage (NASDAQ: LINE), the world's largest global temperature-controlled warehouse REIT, has announced its first dividend since going public. The company's Board of Directors has declared a prorated quarterly cash dividend of $0.38 per share for Q3 2024. This dividend is calculated for the period from July 26, 2024 (the IPO date) to September 30, 2024, representing an annualized dividend rate of $2.11 per share. Shareholders of record as of September 30, 2024, will receive the payment on October 21, 2024. This move signals Lineage's commitment to providing returns to its investors following its recent initial public offering.

Lineage (NASDAQ: LINE) has announced details for its Food Chain Innovation Challenge, a global competition addressing postharvest food waste. The challenge will take place in London, Amsterdam, and San Francisco in November 2024. Participants can submit applications until September 30.

Regional winners will receive $5,000 and advance to the grand final on December 2. The global winner will be awarded a $50,000 grand prize and invited to a six-month, executive-led incubator program. Distinguished judges from various organizations will evaluate pitches focusing on reducing food waste, food preservation, access to nutritious food, and data-driven insights.

This initiative aims to support innovative solutions as the severely food-insecure population is expected to reach nearly a billion by 2028.