Malhotra is a proven technology leader with decades of experience in engineering, product development and AI strategy for tech and media companies, including Thomson Reuters, Intel and Qualcomm
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DETROIT, May 6, 2024 – Rocket Companies (NYSE: RKT), the Detroit-based fintech platform company including mortgage, real estate and other financial service businesses, today announced Shawn Malhotra as its first ever group Chief Technology Officer (CTO), effective May 6, 2024.
In this role, Malhotra will oversee the development and implementation of technology across the entire Rocket Companies’ ecosystem, including Artificial Intelligence (AI) development, Data Science, Product Engineering, Technology Operations and Information Security – among other areas.
“Shawn brings a wealth of expertise and a transformative vision to our technology teams. As we double down on our commitment to technology innovation, Shawn will help us focus on delivering groundbreaking solutions to our clients, partners and team members,” said Varun Krishna, CEO of Rocket Companies. “Shawn’s primary objective will be to increase the rate of innovation and execution in the organization, amplifying Rocket’s AI initiatives. His fresh perspective and track record of leveraging AI to simplify and automate processes makes me confident that, together, we will quickly realize our vision of AI-fueled homeownership.”
Previously, Malhotra held a variety of technology leadership roles at Thomson Reuters (NYSE: TRI). Most recently, he was the Head of Engineering and Product Development for the entire company. Under Malhotra’s oversight, Thomson Reuters established a platform to accelerate development of generative AI solutions, while introducing an industry-leading AI assistant spanning all Thomson Reuters products. Previously, Malhotra served as the CTO of Thomson Reuters’ Corporate Technology business unit. When he joined the company in 2017, he was instrumental in founding Thomson Reuters’ Toronto Technology Centre, prioritizing AI talent and expanding TR Labs – the company’s division dedicated to research around AI and other technological innovation.
“I am looking forward to being part of this pivotal time in Rocket Companies’ history and am eager to explore how AI can simplify the path to homeownership,” said Shawn. “I truly believe in the transformative potential of AI technology. Few missions are as crucial or deserving of its power as Rocket’s goal of making housing more accessible for all.”
Before his time at Thomson Reuters, Malhotra spent 12 years at Intel – including his time at Altera before the company was acquired by Intel. He led Intel’s Toronto Technology Centre, which housed 200 software engineers, and was the Director of Software Development. Malhotra started his career as a software developer for Qualcomm.
Malhotra joins the company at a key time for Rocket. Just last month, Rocket Companies announced Rocket Logic and Rocket Logic – Synopsis. The tools use generative AI to quickly automate manual tasks that humans would typically spend hours of time completing. This includes classifying documents, extracting client data, tracking sentiment and recording client patterns and preferences.  AI empowers team members to focus on what matters most, building relationships with those on the journey to homeownership and strengthening rapport with Rockets’ millions of clients.
Malhotra earned a Bachelor of Applied Science degree in Computer Engineering at the University of Waterloo, where he graduated with honors. He also earned a Master of Engineering degree at the University of Toronto. Malhotra is credited with five issued US patents and two published papers.
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About Rocket Companies 
Founded in 1985, Rocket Companies (NYSE: RKT) is a Detroit-based fintech platform company including personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Amrock, Rocket Money, Rocket Loans, Rocket Mortgage Canada, Lendesk and Core Digital Media.
The Company helps clients achieve the goal of home ownership and financial freedom through industry-leading client experiences powered by its simple, fast and trusted digital solutions. J.D. Power has ranked Rocket Mortgage, #1 in client satisfaction for both primary mortgage origination and servicing a total of 21 times.
For more information, please visit the Company’s Corporate website or Investor Relations website.
Want to learn more about the Rocket Companies?
(313) 373-7990
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Rocket Mortgage, LLC, Rocket Homes Real Estate LLC, and RockLoans Marketplace LLC (doing business as Rocket Loans®) are separate operating subsidiaries of Rocket Companies, Inc. (NYSE: RKT). Each company is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation and applicable legal and regulatory requirements.
Rocket Companies, Inc. 1050 Woodward Avenue, Detroit, MI 48226-1906
©2024 Rocket Companies, Inc. All rights reserved.

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06 May 2024
Booming investment in the manufacturing of clean energy technologies, especially solar PV and batteries, is becoming a powerful economic driver globally, creating new industrial and employment opportunities, according to a new report from the International Energy Agency released today. 
In a first-of-its-kind analysis, Advancing Clean Technology Manufacturing finds that global investment in the manufacturing of five key clean energy technologies – solar PV, wind, batteries, electrolysers and heat pumps – rose to USD 200 billion in 2023, an increase of more than 70% from 2022 that accounted for around 4% of global GDP growth.
Spending on solar PV manufacturing more than doubled last year, while investment in battery manufacturing rose by around 60%. As a result, solar PV module manufacturing capacity today is already in line with what is needed in 2030 based on the IEA’s net zero emissions scenario. For battery cells, if announced projects are included, manufacturing capacity is 90% of the way towards meeting net zero demand at the end of this decade.
The report finds that many projects in the pipeline will be operational soon. Around 40% of investments in clean energy manufacturing in 2023 were in facilities that are due to come online in 2024. For batteries, this share rises to 70%.
“Record output from solar PV and battery plants is propelling clean energy transitions – and the strong investment pipeline in new facilities and factory expansions is set to add further momentum in the years ahead,” said IEA Executive Director Fatih Birol. “While greater investment is still needed for some technologies – and clean energy manufacturing could be spread more widely around the globe – the direction of travel is clear. Policy makers have a huge opportunity to design industrial strategies with clean energy transitions at their core.”
Clean energy manufacturing is still dominated by a few regions. China, for example, is currently home to more than 80% of global solar PV module manufacturing capacity. However, the report finds that the manufacturing of battery cells could become less geographically concentrated by the end of this decade; if all announced projects are realised, Europe and the United States could each reach around 15% of global installed capacity by 2030.
New data and analysis based on plant-level assessments of more than 750 facilities indicate that China remains the lowest-cost producer of all clean energy technologies. Battery, wind and solar PV manufacturing facilities are typically 20% to 30% more expensive to build in India than in China, and 70% to 130% more in the United States and Europe. However, the vast majority of total production costs for these technologies (70% to 98%) is estimated to come from operational costs, which include inputs such as energy, labour and materials – implying that production cost gaps seen today are not immutable and can be influenced by policy.
The report – produced in response to a request from G7 Leaders in 2023 – provides guidance for policy makers as they prepare industrial strategies with a strong focus on clean energy manufacturing. Acknowledging that there is no “one size fits all” approach, it lays out guiding principles that can inform future planning.
Advancing Clean Technology Manufacturing incorporates insights gathered during a high-level dialogue on diversifying clean technology manufacturing held at the IEA’s headquarters in Paris in November 2023. It also builds on analysis conducted as part of the latest edition of the IEA’s flagship technology publication, Energy Technology Perspectives, and two special briefings on clean technology manufacturing published last year.

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Menachem Elimelech
Menachem Elimelech, the Sterling Professor of Chemical and Environmental Engineering at Yale, has been awarded the Connecticut Medal of Technology, the state’s highest honor for technological achievement.
The award was announced by the Connecticut Academy of Science and Engineering (CASE).
Elimelech, who is on the faculty of the Yale School of Engineering & Applied Science, was recognized for his pioneering developments of energy-efficient, sustainable membrane-based technologies for desalination, and the management of brines and industrial wastewaters.
He is a leading international authority who has transformed the field of environmental engineering, particularly in these areas.
Connecticut Governor Ned Lamont said Elimelech’s work illustrates the state’s role as a global technology leader. “Dr. Elimelech’s pioneering research has not only enriched the academic community’s understanding of a highly complex topic, but also led to innovative approaches to addressing critical environmental issues and spawned the growth of an industry,” he said. 
The honor also reflects both Elimelech’s broadly international scientific reputation as well as his commitment to the betterment of the world, said Yale Engineering Dean Jeffrey Brock.
“Yale Engineering has long made finding solutions to major environmental challenges a key part of its mission,” Brock said. “Professor Elimelech’s work is a critical step toward ensuring that people across the globe will have access to clean drinking water and to understanding how to make sure that access endures.”
Elimelech’s research focuses on various membrane-related processes for water desalination, brine management, and other applications.
His innovative work on forward osmosis, which uses membranes to filter water, has profoundly impacted the desalination and water industry. He was a co-founder of Oasys Water, a company that commercialized the ammonia-carbon dioxide forward osmosis desalination technology. More than 13 new forward osmosis start-up companies have been formed following his pioneering research.
In a recent breakthrough, Elimelech showed that a model used for more than 50 years to describe water transport in reverse osmosis membranes is fundamentally flawed. He proposed an alternative mechanism and theory, a finding has direct implications for the design of high-performance desalination membranes.
Elimelech earned his B.S. and M.S. degrees from the Hebrew University of Jerusalem and his Ph.D. in environmental engineering from Johns Hopkins University in 1989. In his first appointment, Elimelech served as professor and vice chair of the Department of Civil and Environmental Engineering at UCLA. He joined Yale in 1998 as director and founder of the university’s Environmental Engineering Program as well as Llewellyn West Jones Professor in the Department of Chemical Engineering. In 2005, he was named Roberto C. Goizueta Professor and became chair of Yale’s Chemical and Environmental Engineering Department.
In 2021, he was appointed Sterling Professor of Chemical and Environmental Engineering, the university’s highest academic rank. He was the first engineering professor at Yale to earn this distinction.
His major awards and honors include the International Water Association (IWA) Membrane Technology Award (2023); Honorary Doctorate, Ben-Gurion University, Israel (2023); Prince Sultan Bin Abdulaziz International Prize for Water (2023); Eni Prize for “Protection of the Environment” — considered by many the Nobel Prize in the energy/environment sector — (2015); The Simon W. Freese Environmental Engineering Award and Lecture, American Society of Civil Engineers (2011); The American Institute of Chemical Engineers Lawrence K. Cecil Award in Environmental Chemical Engineering (2008); and The Athalie Richardson Irvine Clarke Prize, National Water Research Institute (2005).
Elimelech is an elected member of the Canadian Academy of Engineering (2022); the Australian Academy of Technology and Engineering (2021); the Chinese Academy of Engineering (2017); the Connecticut Academy of Science and Engineering (2007); and the United States National Academy of Engineering (2006).
In addition to Elimelech, the state also awarded the Medal of Technology to ARKA Group, in honor of the company’s 60 years of work in optics and other technologies.
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