Category: Engineering

Furuya Metal Has Become the First Japanese Precious Metal Company to Establish a Joint Venture with Anglo Platinum Marketing Limited, a Major PGM Producer in South Africa

With the Goal of Helping Achieve a Sustainable Society through Freshness-maintaining, Mold-inhibiting, and Antimicrobial Environmental Products that Utilize FT-eco Catalysts

July 27, 2020 – Furuya Metal Co., Ltd. (Head office: Toshima-ku, Tokyo; President: Takahito Furuya) has established a new company named “Furuya Eco-Front Technology” on May 27 2020, which will handle environmental businesses that capitalize on low-temperature active catalysts (hereafter referred to as “FT-eco catalysts”), and that on July 1 it signed an agreement to form a joint venture with Anglo Platinum Marketing Limited (Head office: London, the United Kingdom, hereafter referred to as “APML”), a subsidiary of Anglo American Plc. APML, which appreciates Furuya Metal’s environmental businesses, is providing 40% of the capital for the new joint venture. This is the first time a major mining company in South Africa where accounts for 70% of the global platinum production, has formed a joint venture with a Japanese precious metal company.

In 2017, Furuya Metal established a mass-production system for FT-eco catalysts that resolves volatile organic compounds (VOCs), which are harmful to humans and cause allergies and offensive odors, as well as ethylene, which accelerates the decay of plants, and has been actively promoting these catalysts.

As urban areas have developed economically in China and Southeast Asian countries, as well as Japan, people are continuously flowing into these areas, which creates food safety issues and increases the need for reducing food waste and improving public hygiene. In order to reduce the food waste due to spoilage and to improve people’s health by preventing odor, inhibiting molds, and taking the advantage of the antimicrobial effect, Furuya Metal has recently established a new company. Furuya Metal is aiming to consolidate its business resource related to FT-eco catalyst, expand its distribution channels further, including overseas markets, and promote technology development through a newly formed subsidiary.

Press release (PDF): http://www.acnnewswire.com/clientreports/598/202007.pdf

About FT-eco catalysts

FT-eco catalysts are catalysts in which nanoparticles of precious metals such as platinum are carried in a special ceramic carrier. These catalysts can efficiently resolves VOCs and ethylene within a temperature range between 0 degrees and 30 degrees Celsius (room temperature) and exhibit a high level of catalytic effect when simply placed within the target space. Furthermore, since they almost never need to be replaced, cost reduction and energy saving can be expected. Therefore, it is projected that these catalysts will be utilized by makers of home appliances, such as air cleaners and refrigerators, retails stores that need to maintain the freshness of fruits, vegetables, flowers, and plants, and in logistics applications such as cold chains.

FT-eco catalysts are next-generation, energy-saving, environment-friendly catalysts that, because they work at low temperatures, can be expected to reduce energy consumption, thereby reducing CO2 emissions, and that have the potential of contributing to food waste reduction by maintaining freshness.

Furuya Metal Group specializes in PGM with particularly excellent properties among precious metals, and develops and manufactures products for a wide range of fields, including electronics, optical glass, clean energy, precious metal resource reutilization, environment, and medicine. The company was selected as one of the Global Niche Top Companies Selection 100 by Japan’s Ministry of Economy, Trade and Industry (METI) in the program’s first year (2014) and again in its second year (2020). We plans to continue capitalizing on its unique technologies to help resolve social issues.

Overview of the new company
– Company name: Furuya Eco-Front Technology Co., Ltd.
– Head office location: MSB-21 Minami Otsuka Bldg., 2-37-5 Minami Otsuka, Toshima-ku, Tokyo
– President: Hideki Kuwabara (Furuya Metal Co., Ltd. director), Wei Chen
– Established: May 27, 2020
– Capital: 250 million yen
– Capital ratio: Furuya Metal Co., Ltd. 60%; Anglo Platinum Marketing Ltd. 40%
– Business description: Development, manufacture, sales, and export of freshness-maintaining, mold-inhibiting, and antimicrobial environmental products that utilize low-temperature active catalysts

Product description video: https://www.youtube.com/channel/UCGZa2eorg4ts1FHxxOOGvPg

[Overview of Furuya Metal Co., Ltd.]

Furuya Metal manufactures industrial-use precious metal products utilizing precious metals with high scarcity value included among platinum group metals (PGM) such as platinum (Pt), iridium (Ir) and ruthenium (Ru). Due to the extreme difficulty in processing these precious metals, the number of industrial-use precious metal manufacturers specializing in PGM is limited, even on a worldwide level. Industrial-use precious metals centered on PGM, can be considered as materials with a vital role in supporting advancements in the fields of electronics, optical glass, clean energy, environment and medicine because of their excellent characteristics such as heat resistance, chemical stability and good electrical conductivity.

The Company specializes in PGM possessing particularly excellent properties among precious metals, and manufactures and sells industrial-use precious metal products such as crucibles (heat-resistant containers), thin film materials, thermocouples (thermometers), and compounds, and is also engaged in recycling businesses, such as refining and recovering rare precious metals in order to most effectively utilize them.

Headquarters: MSB-21 Minami Otsuka Bldg., 2-37-5 Minami Otsuka, Toshima-ku, Tokyo
Representative: Takahito Furuya, President
Founded: March 1951
Incorporated: August 22, 1968
Capital: 5,445 million yen
Listed exchange: JASDAQ Standard (Securities code: 7826)
Employees: 312 (as of June 30, 2019)
Sales: 21,163 million yen (as of June 30, 2019)
Business description: Manufacture and sales of industrial-use precious metal products such as iridium and platinum, and thermosensors. Sales of electronic materials and semiconductor-related products. Manufacture and sales of thin film components.
Website: http://www.furuyametals.co.jp/

AFMG Announces Successful Co-Development of Disruptive New Generation 800V SiC Dual Inverter with ROHM

Significantly Reduces Charging Time of EVs
Apollo Platform to be Licensed by Supercar Brand De Tomaso
Enhances Group Market Potential

Apollo Future Mobility Group Limited (“AFMG”, the “Company” ; SEHK stock code: 860.HK; and together with its subsidiaries, the “Group”) is pleased to announce that following the recent completion of its rebranding, the Group’s new business direction has already yielded positive results. AFMG subsidiary GLM Co., Ltd (“GLM”), has successfully co-developed a new generation of 800V silicon carbide (“SiC”) dual inverter with ROHM Co., Ltd. (“ROHM”), a well-known Japanese semiconductor and electronic component manufacturer. This is the first important milestone following the joint announcement made by the two parties on 18 February, 2020 regarding the cooperation. Apollo Automobil, an indirect non-wholly owned subsidiary, also announces entering into a license agreement with supercar brand “De Tomaso” whereby De Tomaso will license Apollo Automobil’s new vehicular platform in the production of its future vehicles. The Group feels confident and optimistic of its journey into the future of mobility.

Successful Co-Development of Disruptive New Generation 800V SiC Dual Inverter with ROHM
Significantly Reduces Charging Time of EVs
AFMG focuses on mobility technology innovation and has recently made new progress. As compared to the current commonly seen 400V insulated gate bipolar transistor (IGBT) inverter, the new generation of 800V SiC dual inverter, coupled with solid state battery (SSB) battery management system (BMS) can greatly reduce the thermal output, weight and size of the inverter as well as the charging time required. It also allows us to use dual inverter technology to enable independent energy output for each tire, so that the controlling performance is greatly improved with stronger grip.

According to preliminary research data, we can achieve 70% reduction in charging time compared to electric vehicles (“EV”) on the market which normally takes 40 minutes – by reaching 80% charge in 12 minutes. The Group targets to further shorten

the charging time to 5 minutes by the end of 2021. Prototype production is expected to complete in June this year while testing in drivable electric prototype cars will commence at the end of 2020. Mass production is expected to begin in spring 2022.

The Group is considering cooperation with motor manufacturers to market the new 800V SiC dual inverter, jointly developed by the Group and ROHM, coupled with the BMS with SSB, as well as the motor manufacturers’ own motors, as a complete package, to international mobility brands. The Group is exploring a licensing model to further expand the source of revenue and to better focus on research & development and innovation.

Apollo Platform to be Licensed by Supercar Brand De Tomaso
Enhances Group Market Potential
AFMG also announces Apollo Automobil, an indirect non-wholly owned subsidiary of the Company, entered into the License Agreement with De Tomaso Automobili Limited (“De Tomaso”) whereby De Tomaso is granted the rights to use proprietary Apollo platforms (“the Platforms”) in “De Tomaso” branded vehicles worldwide at a minimum aggregate license fee of US$10,000,000 (equivalent to approximately HK$78,000,000) with a term of three years commencing from 12 May 2020 and ending on 11 May 2023.

Apollo Automobil is designing and developing a new vehicular platform which can be used in various types of vehicles worldwide. The Platform includes a complete rolling chassis including crash structures, full powertrain, electronics and suspension, and is proprietary to Apollo Automobil. The cooperation will strengthen the Group’s business strategy of creating a turnkey platform for “Future Mobility” and will be able to leverage on the success and branding of De Tomaso to demonstrate its capabilities to other potential customers.

Profit Warning for the Six Months ended 31 March 2020*
The Company also announces profit warning to inform the shareholders of the Company and potential investors that the Group is expected to record an increase in consolidated net loss (the “Expected Loss”) for the six months ended 31 March 2020 as compared with the consolidated net loss of approximately HK$25,651,000 for the six months ended 31 March 2019.

The Expected Loss is mainly attributable to, among others, (i) the expected decrease in fair value on certain financial assets due to the global market decline; (ii) the potential impairment of certain goodwill due to the termination of the wholesale distributorship of jewellery products and watches in Mainland China; and (iii) the expected decrease in fair value on investment properties due to the softening property market in Mainland China. Following the shift of business focus in recent years, the Group expects factors affecting past results will gradually subside.

Mr. Ho King Fung Eric, Chairman of Apollo Future Mobility Group, comments, “Inverters and batteries have been the bottleneck of R&D in EVs. The achievement of the new inverter is all attributable to the unrelenting efforts of our R&D team who always strives for technological breakthrough in future mobility. The Group plans to apply this revolutionary technology into the new EVs of GLM and believes that it can be further expanded into other EV systems in the future, creating a better all-round experience for users by reducing the charging time required.”

Mr. Ho continues, “As for the licensing agreement with De Tomaso, we are pleased to have this opportunity to work with such a prestigious and iconic supercar brand. We believe the collaboration further enhances the Group’s brand awareness and expansion into the global mobility market, fostering its future leading position. In sum, we are excited about the future of AFMG and are confident of the Group’s new direction.”

*The Company is still in the process of preparing and finalising the results of the Group for the six months ended 31 March 2020. The information contained in this announcement is only based on the preliminary assessment by the Board of the unaudited consolidated management accounts of the Group for the six months ended 31 March 2020 currently available to it, which has not been reviewed nor audited by the Company’s auditors and are subject to finalization including but not limited to fair value adjustments on investment properties and certain financial assets, impairment assessment on goodwill and other intangible assets and other necessary adjustments.

Shareholders and potential investors are advised to read carefully the interim results announcement of the Company for the six months ended 31 March 2020 which is expected to be announced on or before 31 May 2020.

About Apollo Future Mobility Group Limited
Apollo Future Mobility Group Limited (“AFMG”, stock code: 860.HK) is a leading integrated mobility technology solution provider with proprietary and disruptive mobility technologies. It is determined to build a world-leading one-stop service platform for “future mobility” through the integration of global advanced mobility technologies.

After completing the acquisition of 86.06% of Apollo Automobil, a European high-performance hypercar developer, in March 2020, the Group rebranded as “Apollo Future Mobility Group”, focusing its business development on two pillars, which are Apollo Automobil and Apollo Advanced Technologies (AAT). In addition to the development and sales of hypercars and its cross-branding licensing business under the “Apollo” brand, the Group provides one-stop turnkey mobility technology solutions by integrating Apollo Automobil and the Group’s existing electric vehicle technologies, from ideation, design, modeling, engineering, simulation, prototype production, actual testing, to the delivery of pre-production prototypes to customers, striving to provide the global mobility market with a seamless and comprehensive solution platform.

The Group’s subsidiaries include Apollo Automobil, a top-tier European hypercar developer, and GLM Co. Ltd, a leading electric vehicle developer in Japan. In addition, the Group has also expanded its mobility technologies by investing in Divergent Technologies, Inc., the world’s first 3D printing automotive manufacturing platform, and EV Power, a leading electric vehicle charging solutions provider.

For more details, please visit http://www.apollofmg.com/

We Solutions (860.HK) Changes Name to Apollo Future Mobility Group Limited

Apollo Future Mobility Group ( AFMG; 0860.HK; formerly ‘We Solutions’ ) is pleased to announce completion of its rebranding exercise, and the official registration of new English Company name, Apollo Future Mobility Group Limited. The stock short name will become APOLLO FMG, with effect at 9:00 on 13 May. The Chinese Company name and stock short name will remain unchanged. Meanwhile, the Company has adopted a new company logo, and the website address will change to www.apollofmg.com, signalling the Group’s embarkation on a new journey to proactively promote its mobility technology business, and its determination to explore in-depth technological innovation, aiming to establish a new standard as an integrated mobility solution provider.

With the advancement and transformation of the global mobility industry, the Group foresaw ample potential in this marketspace. Through a series of strategic mergers and acquisitions, the Group has successfully transformed into an integrated mobility solution provider. In March, the Group completed the acquisition of 86.06% of Apollo Automobil, a European high-performance hypercar developer. By integrating the technologies of Apollo Automobil with the Group’s existing electric vehicle businesses, the Group is able to create a disruptive full-service mobility technology solution platform from ideation, design, modeling, engineering and simulation to prototype production, and actual testing to the delivery of pre-production prototypes to customers.

The acquisition of Apollo Automobil injected state-of-the-art mobility technologies and exceptional brand value into the Group. The acquisition further strengthens the Group’s ability to become one of the world’s leading technology solution providers of the new energy vehicle and mobility industry. The name change will better reflect the Group’s business strategies and expansion and its determination to make a statement in the future of mobility, as well as enhancing its corporate image and competitiveness.

Mr. Ho King Fung Eric, Chairman of Apollo Future Mobility Group, said, “The completion of the Group’s rebranding marks a significant milestone in our corporate development and transformation into an integrated mobility solution provider. The series of recent strategic transactions signifies our resolve in becoming a pioneer in future mobility. The Board believes the new English name and logo of the Company uplifts our corporate image and will benefit future business development of the Group and conform to the overall best interests of its shareholders.”

About Apollo Future Mobility Group Limited

Apollo Future Mobility Group Limited ( AFMG; 0860.HK ) is a leading integrated mobility technology solution provider with proprietary and disruptive mobility technologies. It is determined to build a world-leading one-stop service platform for “future mobility” through the integration of global advanced mobility technologies.

After completing the acquisition of 86.06% of Apollo Automobil, a European high-performance hypercar developer, in March 2020, the Group rebranded as Apollo Future Mobility Group, focusing its business development on twin pillars, which are Apollo Automobil and Apollo Advanced Technologies (AAT). In addition to the development and sales of hypercars and its cross-branding licensing business under the Apollo brand, the Group provides one-stop turnkey mobility technology solutions by integrating Apollo Automobil and the Group’s existing electric vehicle technologies.

The Group’s subsidiaries include Apollo Automobil, a top-tier European hypercar developer, and GLM Co. Ltd, a leading electric vehicle developer in Japan. In addition, the Group has expanded its mobility technologies by investing in Divergent Technologies, Inc., the world’s first 3D printing automotive manufacturing platform, and EV Power, a leading electric vehicle charging solutions provider.

For further details, please visit http://www.apollofmg.com.