– Total revenue reached approximately NTD535.01 million – Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD31.30 million – Revenue from turnkey solutions reached approximately NTD226.60 million – Basic earnings per share were NTD3.87 cents
Genes Tech Group Holdings Co. Ltd(Genes Tech Group or The Group, HKG: 8257) announces its interim results for the six months ended 30 June, 2024 (During the period). During the period, the Group recorded the total revenue of approximately NTD535.01 million, Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD31.30 million. Basic earnings per share were NTD3.87 cents.
During the period, revenue from turnkey solutions amounted to approximately NTD226.60 million, accounting for approximately 42.35% of the Group’s total revenue. The revenue from trading of parts and used SME amounted to approximately NTD308.41 million, accounting for approximately 57.65% of the Group’s total revenue. During the period under review, under the ongoing geopolitical tensions, the Group deepened cooperation with existing international clients and continually explored new areas and models of collaboration. The Group’s revenue from operation in Japan significantly increased by 7,038.01% compared with last year, representing approximately 9.79% of the Group’s total revenue, while revenue from operation in the United States increased by 15.54% from last year, representing approximately 23.70% of the Group’s total revenue.
In the first half of 2024, the rise of generative artificial intelligence (AI) technology has provided significant growth impetus for demand on chips and memory. However, the uncertainties of the global economic environment, along with the slowdown in the growth of the industrial and automotive sectors, leading to a slower-than-expected pace of recovery for the entire semiconductor industry. According to the data recently released by the Semiconductor Industry Association (SIA), the monthly sales of the global semiconductor industry have achieved year-on-year growth since 2024. In May, sales reached USD49.1 billion, with an annual growth rate of 19.3% and a monthly growth rate of 4.1%. Such annual growth rate was the highest since April 2022, showcasing the vigorous development trend of generative AI applications, which brought a strong growth momentum to the semiconductor industry.
Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: “With the rapid development of AI technology, the market is entering a new era fully empowered by AI. This transformation not only deeply reconstructs industry ecosystems but also opens unprecedented golden opportunities for the semiconductor industry. The robust demand for AI and high-performance computing data centers is driving chip manufacturers to establish closer collaborations with memory, packaging and testing companies, working together to build a strong ecosystem, thus enhancing the overall competitiveness of the entire industry chain. However, the complex geopolitical landscape continues to have profound effects on the global semiconductor industry, especially in AI, which is a core area of Sino-US competition. The Group will adopt a cautious strategy, flexibly adapting to market changes and seizing development opportunities. At the same time, the Group will also strive to achieve breakthroughs in key technologies to solidify our market position in intense competition, aiming to create long-term and sustainable value returns for the shareholders.”
About Genes Tech Group Holdings Co. Ltd (HKG: 8257) Genes Tech Group Holdings Co. Ltd is a turnkey solution provider and exporter of parts and used SME in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution for parts and used SME for its customers and modifying and/or upgrading the semiconductor equipment of its production systems according to customers needs. In addition, the Group is also engaged in the trading of SEM and parts. The SME and parts supplied by the Group included furnaces, clean tracks and other related items, which were used at the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these were extensively applied in mobile phones, game consoles, DVD players, automotive sensors and other digital electronic products.
The press release is distributed by Vitalink Consultants Limited on behalf of Genes Tech Group Holdings Co. Ltd. For enquiry, please contact:
Ms. Natural Lau Tel: (852) 2529 7999 Email: Natural.lau@vitalink.com.hk
Brisbane, Queensland, Australia–(ACN Newswire – August 6, 2024) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company“) is pleased to provide the latest progress update on its Graphene Aluminium-Ion Battery technology (“G+AI Battery“) being developed by GMG and the University of Queensland (“UQ“).
Notably, this update includes information about GMG’s G+AI Battery regarding:
Electrochemistry Optimisation1000 mAh Battery Cell Capacity Reached (Previously)Battery Technology Readiness LevelNext Steps Toward Commercialisation and Market ApplicationsNext Generation Battery PerformanceImportant Milestones for GMG’s Graphene Aluminium Ion Battery Development
Electrochemistry OptimisationThe Company is currently optimising the G+AI Battery pouch cell electrochemistry – which is a standard battery development process step (please see Battery Technology Readiness Level section below).The Company has developed significant knowledge regarding the electrochemistry of the pouch cells since achieving the targeted 1 Ah cell capacity in February 2024.The challenges that the G+AI Battery are showing through this phase of its maturation are very similar to other battery chemistries that have been developed into mass production – including Lithium-Ion batteries.The performance of the pouch cells will be communicated upon successfully producing a repeatable and 3rd party tested 1000 mAh+ battery pouch cell.The Company is confident it can meet its overall timeline on the battery cell roadmap as seen in Figure 1 as previously communicated.Figure 1: Battery Cell RoadmapTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_001full.jpgThere are five steps in this optimisation process which the Company completes once per week in what it calls a “Sprint” as seen in Figure 2.Figure 2: Optimisation Weekly Sprint ProcessTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_gmg1.jpg
Make Cell
The major components of the G+AI Battery are:Cathode: Graphene, binder and solvent (water or another solution) layered on a metal foil cathode substrate.Anode: Aluminium foilElectrolyte: Aluminium Chloride and ionic fluid (Urea or another solution)Separator: SeparatorThese are assembled in a standard step by step process – which is documented in the Company’s operation manual of procedures for the Battery Development Process.There are many different variations that can be trialed in a cell design which can include, but are not limited to, the following:- Processing of the graphene- Type of Cathode Solvent- Type of Cathode Binder- Cathode thickness- Various Ionic Fluids in the Electrolyte- Various mixes of Electrolyte components- Types of Separators (different materials, suppliers and thicknesses)- Various Cathode preparation variations- Various Cell Assembly process variations- Charging and Discharging algorithms (including charging voltage, current and time)- Formation ProcessesTypically, 5 of each battery design is made which ensures a statistical depth to the testing.
Test Cell Performance
Once the Cell Performance is measured (on the charging/discharging stacks) there are certain performance parameters that are observed which include, but are not limited to, the following:- Capacity (mAh)- Nominal Voltage (Volts)- Number of Charging and Discharging Cycles (number)- Physical expansion or contraction of the cell- Physical changes to the cellThis data is then recorded and linked to the cell design and assembly process used to make the cell.
Compare Cell Performance
The objective of this step is to understand what design and cell assembly parameters, in an isolated test, have a repeatable causal change in cell performance.Each Sprint usually focuses on a single variable in design or cell assembly – an example of a 3-week Sprint program is seen in Figure 3.Figure 3: Sprint Program ExampleTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_gmg2.jpg
Review Optimisation Options
Upon reviewing optimisation options for the next Sprint, there are many parameters to consider. Often one design parameter of the cell or assembly process will positively improve one cell performance outcome but have a negative impact on another. As the Company optimises various performance outcomes of the battery cell – some of which are shown in Figure 4 – the Company needs to consider the various potential trade-offs on other performance outcomes.Figure 4: Battery Optimisation ProcessTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_gmg3.jpg
Propose Next Cell Design (repeat Step 1 again)
Once the Company has selected the design of the Cell parameters, it needs to test for optimisation. This involves repeating step 1 until a final design or variable is chosen.1000 mAh Battery Cell Capacity ReachedThe Company previously announced on the 6th February 2024 it produced multiple battery pouch cells with over 1000 mAh (1 Ah) capacity, as seen in Figure 5. This was a major milestone achieved to demonstrate scalability from coin cells to pouch cells, and represented the next milestone in the battery’s development, following the announcement of 500 mAh capacity in September 2023.Figure 5: Typical G+AI Pouch Cell PrototypeTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_009full.jpgPlease see typical charging and discharging curve of the GMG’s Graphene Aluminium-Ion Battery 1000 mAh cell in Figure 6 showing a nominal voltage of 1.7 volts.Figure 6: Typical Charging and Discharging CurvesTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_010full.jpgAt the same time, GMG is reviewing a potential investment for the procurement and installation of an automated pouch cell battery pilot plant in its Richlands Australia Facility. The Pilot Plant will enable the Company to produce pouch cells for potential customers to test in battery packs for different applications. Following the successful start-up of the Pilot Plant and successful customer trials, GMG expects to pursue large scale commercial production, as seen in Figure 7.Figure 7: Pouch Cell Scale Up ProcessTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_011full.jpgBattery Technology Readiness LevelThe battery technology readiness level (“BTRL”) of the Graphene Aluminium-Ion technology remains at Level 4 (see Figure 8). GMG is currently optimizing electrochemical behaviour for pouch cells via ongoing laboratory experimentation. If GMG invests, constructs and commissions a Pilot Plant it is anticipated that the battery technology will progress to BTRL 7 and 8 since the equipment and process needed to make the Graphene Aluminium-Ion batteries is the same as those employed to make Lithium Ion Batteries.Figure 8: Battery Technology Readiness LevelSource: “The Battery Component Readiness Level (BC-RL) Framework: A technology-specific development framework”, Matthew Greenwood et alTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_012full.jpgNext Steps Toward Commercialisation & Market ApplicationsThe Company continues to see a broad range of applications for a completed GMG Graphene Aluminium Ion Battery – utilising its ultra-high power-density and nominal energy density characteristics. Along with Rio Tinto, a range of global companies have confidentially expressed their interest in working with GMG in the following vertical sectors:To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_013full.jpgNext Generation Battery PerformanceGMG’s next generation Graphene Aluminium-Ion Battery performance data (as tested and calculated on coin cells), as compared to the most commonly available lithium-ion batteries, is shown below in Figure 9, with a list of its beneficial characteristics.The performance of the pouch cells will be communicated upon successfully producing a repeatable and fully 3rd party tested 1000 mAh+ battery pouch cell.Figure 9: Graphene Aluminium Ion Battery Comparative Performance Data (for coin cells)Pouch cell performance data could be significantly different and will be published once 1000 mAh+ capacity pouch cells are developed and tested.Source:*University of Queensland validated GMG testing data based on industry standard estimate methodology from coin cells using a reducing factor of 2.3.#CATL 3.7V 65Ah NCM Lithium Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22 7$ CATL 3.2V 150Ah LiFePO4 Battery Cell – LiFePO4 Battery (lifepo4-battery.com) on 29/09/22To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/218986_934e5a6e74c4b803_014full.jpgImportant Milestones for the Battery’s Development:Important milestones for GMG’s Graphene Aluminium Ion Battery Development:
About GMGGMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).GMG’s 4 critical business objectives are:
Produce Graphene and improve/scale cell production processesBuild Revenue from Energy Savings ProductsDevelop Next-Generation BatteryDevelop Supply Chain, Partners & Project Execution CapabilityFor further information please contact:
Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041
www.graphenemg.comNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.Cautionary Note Regarding Forward-Looking StatementsThis news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the development of the Company’s pouch cell battery, that the Company will obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, the timing of gathering third party laboratory battery testing data, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility and the potential to pursue large scale commercial production if the pilot plant and customer trials are successful, the timing of customer testing for an 1000 mAh pouch cell, that the Company will optimize electrochemical behaviour for pouch cells via ongoing laboratory experimentation, the ability of a pilot plant to help progress the Graphene Aluminium-Ion technology along the BTRL, the Company’s ability to meet its overall timeline on the battery cell roadmap, and the potential applications for the G+AI Battery.Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions that the Company will obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, that the Company will review the investment decision to procure and install an automated pouch cell battery pilot plant in its Richlands Australia facility, that the Company may move to large scale commercial production if the pilot plant and customer trials are successful, that the Company will be able to optimize the electrochemical behaviour of the pouch cell through laboratory experimentation, that a pilot plant will assist in progressing its Graphene Aluminium-Ion technology along the BTRL, and that the Company will be able to meet its overall timeline on the battery cell roadmap. Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company will not be able to obtain repeatable third party testing of a 1000 mAh+ battery pouch cell, that the Company will choose not to proceed with a pilot plant, that the Company will not proceed to customer testing and laboratory testing on the expected timeline or at all, that the Company will not pursue large scale commercial production even if the pilot plant and customer trials are successful, that the construction of a pilot plant will not help advance the Graphene Aluminium-Ion technology along the BTRL, that the Company will not be able to optimize the electrochemical behaviour of the pouch cell through laboratory experimentation or at all, the Company will not be able to meet its overall timeline on the battery cell roadmap, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218986
Unleashing Growth Synergy and Expanding Global Footprint
Global New Material International Holdings Limited(GNMI, Hong Kong HKG: 6616), announced today that it has entered into an agreement (Agreement) with Merck KGaA, (Merck) to acquire Merck’s global surface solutions business (Surface Solutions) for EUR 665,000,000 (equivalent to approximately RMB 5,187,000,000 or HKD 5,586,000,000), in cash. The transaction is expected to close (Closing) in the course of 2025, subject to regulatory approvals and satisfaction of certain customary closing conditions.
GNMI and Surface Solutions are highly complementary from a product portfolio, expertise and geographic footprint perspective. The proposed combination will strengthen the position of the business post-closing and enable an even more customer-centric go to market approach. The acquisition is anticipated to further broaden the global capabilities of GNMI and enhance product excellence.
Ertian Su, Chairman of Global New Material International, said: “I am excited to announce our acquisition of Merck Surface Solutions , and look forward to a seamless integration upon post-closing. The acquisition will be a landmark moment for GNMI as the newly combined team will bring the best of both worlds, with a combined set of capabilities, expertise, talent, geographic and sales network. As one team, we will jointly offer innovation and product excellence to our customers and partners, uplift the industry standards, and achieve an unwavering position in the global marketplace. I truly believe that integrating with Surface Solutions will be a key catalyst for our business and our industry, enabling GNMI to achieve new heights of success.”
Mr. Su added, “I am fully committed to embarking on this new journey with Surface Solutions. The combination of our businesses not only unlocks an infinite number of opportunities for GNMI and our industry, but it will be full of opportunities for personal and career development for all employees as well. An integration team consisting of representatives of both GNMI and Surface Solutions will jointly develop plans for combining our expertise, resources and activities to ensure smooth integration, and to maximize the growth synergies between the two companies.”
“GNMI and our Surface Solutions business will join forces and combine their strengths to form an even stronger team, delivering excellence in the pigments industry,” said Belén Garijo, Chair of the Executive Board and CEO of Merck.
Kai Beckmann, Member of the Executive Board of Merck and CEO Electronics, said: “The combination of Surface Solutions and GNMI will strengthen the competitiveness of the business, thus providing better prospects for employees and customers.”
GNMI, spearheaded by its brand Chesir and CQV, has deep expertise in research and development, production, and sales of synthetic mica, pearlescent materials, and new energy materials. With main production capacities in China and Korea, GNMI holds a leading position in the mid-to-high market, supplying highly-functional cutting-edge materials to multinational customers worldwide in various sectors such as automobiles, cosmetics, electronic goods, personal cares, plastics, printings, foods, and pharmaceuticals. In particular, CQV is a pioneer in effect pigments in Korea and beyond, and will continue to play a critical role in expanding GNMI’s global footprint along with the addition of Surface Solutions.
Merck Surface Solutions is specialized in solutions used in coating, cosmetic and industrial applications. Surface Solutions holds a strong position in the high-quality markets, especially in the global automotive and cosmetics markets.
Upon closing, the production facilities of Surface Solutions in Gernsheim (Germany), Onahama (Japan), and Savannah, Georgia (United States) will become regional hubs of the enlarged business with continued operations. Simultaneously, 1,200 global employees of Surface Solutions will be retained. There is also a comprehensive job guarantee program for the Gernsheim and Darmstadt sites as well as a site guarantee for Gernsheim in place until at least 2032.
Merck Surface Solutions and GNMI remain separate and independent companies until the transaction closes.
Ertian Su, Chairman of Global New Material International (Center),Belén Garijo, Chair of the Executive Board and CEO of Merck (Right) and Kai Beckmann, Member of the Executive Board of Merck and CEO Electronics (Left), met in Darmstadt, Germany, in regards to GNMI’s acquisition of Surface Solutions.
About Global New Material International Global New Material International Holdings Limited (GNMI, Hong Kong stock code: 06616) is one of the largest pearlescent pigment producers. Spearheaded by its brand Chesir and CQV, it has deep expertise in research and development, production, and sales of pearlescent materials, synthetic mica, and new energy materials. With approximately 800 employees and main production capacities in China and Korea, GNMI holds a leading position in the mid-to-high market, supplying highly-functional cutting-edge materials to multinational customers worldwide in various sectors such as automobiles, cosmetics, electronic goods, personal cares, plastics, printings, foods, and pharmaceuticals.
About Merck Merck, a leading science and technology company, operates across life science, healthcare and electronics. Around 63,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From providing products and services that accelerate drug development and manufacturing as well as discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2023, Merck generated sales of € 21 billion in 65 countries.
Scientific exploration and responsible entrepreneurship have been key to Merck’s technological and scientific advances. This is how Merck has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada, where the business sectors of Merck operate as MilliporeSigma in life science, EMD Serono in healthcare, and EMD Electronics in electronics.
Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company”) is pleased to provide a business update on the commercialisation progress of THERMAL-XR® Powered by GMG Graphene.
Image 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/211778_gmg1en.jpgGMG and GMG’s THERMAL-XR® Powered by GMG Graphene coating was awarded the Product Excellence HVAC Award in Sydney, New South Wales, Australia on the 29th May 2024 at the Air Conditioning, Refrigeration Building Services Exhibition (ARBS). ARBS is Australia’s leading event for the Heating Ventilation Air Conditioning and Refrigeration (HVAC&R) and building services sectors. ARBS is where professionals from across the industry connect to explore cutting-edge advancements; network with 350 exhibitors; and interact with more than 9,000 attendees dedicated to shaping the future of the HVAC field.Image 2To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8082/211778_gmg2en.jpgThe Product Excellence HVAC Award is focused on new technology or re-application of existing technology in product manufacture that demonstrate innovation and fitness for purpose for the air conditioning, refrigeration and building services sector.ARBS’s website described the Company’s THERMAL-XR® COATING SYSTEM as “distinguishing itself in the HVAC & R industry by its innovative approach to enhancing the thermal conductivity of both new and corroded heat exchange surfaces. This system not only coats and protects these surfaces but also restores their eroded thermal efficiency. By integrating the physics of GMG Graphene, the THERMAL-XR® process not only improves the heat transfer rate but also significantly reduces power consumption, marking a substantial advance in efficiency. Additionally, the THERMAL-XR RESTORE®, Powered by GMG Graphene, offers protection against accelerated corrosion for various types of coils, thereby prolonging equipment life and further reducing energy costs.”This collaborative national ARBS Awards initiative is fully endorsed by the major HVAC&R industry associations:
AIRAH – Australian Institute of Refrigeration, Air Conditioning & HeatingAMCA – Air Conditioning & Mechanical Contractors AssociationAREMA – Air Conditioning & Refrigeration Equipment Manufacturers AssociationARWA – Air Conditioning & Refrigeration Wholesalers AssociationCIBSE – Chartered Institute of Building Services Engineers (ANZ)RACCA – Refrigeration & Air Conditioning Contractors Association
GMG’s Managing Director and CEO, Craig Nicol, commented: “This national industry award is really exciting as it shows further progress GMG is making with THERMAL-XR® within the HVAC-R industry. We continue to see various types of industries trialling our product including in the after-market air conditioning, data centres, air conditioner manufacturers, personal electronics, truck and train manufacturers and industrial facilities such as LNG plants.”GMG’s Chairman and Director, Jack Perkowski, commented: “THERMAL-XR® is an exciting prospect for the Company in many applications and markets, and it is gratifying to see the Company receiving recognition for this through such national industry awards.”About THERMAL-XR® powered by GMG Graphene:THERMAL-XR® COATING SYSTEM is a unique method of improving the conductivity of corroded heat exchange surfaces and improving and maintaining the performance of new units at peak levels. The process coats and protects heat exchange surfaces while improving and rebuilding the lost corroded thermal conductivity and increasing the heat transfer rate by leveraging the physics of GMG Graphene, resulting in an efficiency improvement and a potential power reduction.THERMAL-XR RESTORE® is powered by GMG Graphene. PATENT PENDINGAbout GMGwww.graphenemg.comGMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process. GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications.The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving coating), lubricants and fluids.In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).GMG’s 4 critical business objectives are:
Produce Graphene and improve/scale cell production processesBuild Revenue from Energy Savings ProductsDevelop Next-Generation BatteryDevelop Supply Chain, Partners & Project Execution Capability
For further information please contact:
Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.Cautionary Note Regarding Forward-Looking StatementsThis news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the Company’s THERMAL-XR® COATING SYSTEM distinguishing itself in the HVAC & R industry, the Product Excellence – HVAC Award showing the progress THERMAL-XR® is making within the HVAC-R industry, and the types of industries trialling the Company’s products.Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to the THERMAL-XR® COATING SYSTEM distinguishing itself in the HVAC & R industry through its innovative approach to enhancing thermal conductivity, the Product Excellence – HVAC Award demonstrating that THERMAL-XR® is making progress in the HVAC-R industry, and that various types of industries will continue trialling the Company’s products.Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the THERMAL-XR® COATING SYSTEM will not continue to distinguish itself in the HVAC & R industry through its innovative approach to enhancing thermal conductivity, or at all, that the Product Excellence – HVAC Award does not demonstrate that THERMAL-XR® is making progress in the HVAC-R industry, that companies in the after-market air conditioning, data centres, air conditioner manufacturers, personal electronics, truck and train manufacturers and industrial facilities industries will not continue to trail the Company’s products, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211778
In the realm of manufacturing technology, Saudi Arabia is at the forefront of embracing future trends that promise to revolutionize the industry. One compelling example of this progressive mindset is the adoption of additive manufacturing (AM) techniques in the Kingdom’s aerospace sector.
As the aerospace sector increasingly embraces digitalization and sustainability, companies in Saudi Arabia are at the forefront of adopting additive manufacturing technologies to enhance efficiency and drive innovation. By incorporating 3D printing capabilities into aircraft maintenance and manufacturing processes, companies have achieved significant advancements.
Additive manufacturing streamlines supply chain logistics, enables rapid production of complex components, and facilitates precision and customization previously unattainable through traditional manufacturing methods. Moreover, the adoption of AM optimizes material usage and reduces waste, aligning with broader sustainability goals within the aerospace sector and the Kingdom.
Through strategic partnerships with AM technology providers and ongoing investment in research and development, Saudi companies are pushing the boundaries of innovation and setting new standards for manufacturing excellence in the aerospace industry. This demonstrates the transformative potential of additive manufacturing in Saudi Arabia’s aerospace sector, showcasing how future trends in manufacturing technology are shaping the Kingdom’s industrial landscape.
Event Overview: 24th Edition of the Saudi Manufacturing Show:
The 24th Edition of the Saudi Manufacturing Show, co-located with the Digital Transformation Summit, is part of a global series of events which has taken place in more than 10 cities across multiple continents over the past few years. The Saudi Manufacturing Show is a by-invite-only, in-person event exclusively for technology leaders from leading businesses, institutions, and government officials representing Saudi Arabia’s manufacturing sector.
The agenda at the Saudi Manufacturing Show has been meticulously crafted to identify critical approaches needed to make informed business decisions, improve operational efficiency, and drive digital culture forward. The Summit will bring together 300+ C-Level Executives, Directors, and Heads of Technology to discuss the potential of AI, Web 3.0, IoT, Quantum Computing, Cyber Security, and other 4IR technologies, revealing the insights needed to embrace impactful change now.
This event aims to foster an environment where leaders can share knowledge, collaborate on innovative solutions, and accelerate the digital transformation of Saudi Arabia’s manufacturing sector. The synergy between the Saudi Manufacturing Show and the Digital Transformation Summit underscores the commitment to harnessing cutting-edge technology to propel the industry into the future transformative change in the present moment.
The 24th Edition of the Saudi Manufacturing Show, co-located with the Digital Transformation Summit, is proudly supported by the Australian Trade and Investment Commission (Austrade). This esteemed partnership underscores the global significance and reach of the event, highlighting its importance in fostering international collaboration and innovation within the manufacturing sector.
The event will feature distinguished speakers, including:
Anbasa Kandiel, Advisor to HE The Vice Minister, Ministry of Industry and Mineral Resources, Kingdom of Saudi Arabia.
Mohammed A Alshangiti, Procurement Center of Excellence Director, Maaden.
Luay Ayyash, Director of Construction, The Royal Commission for AlUla.
Ahmad Khraishi, Executive Director, Dussur.
Dr. Faisal AlNasser, CIO, Almarai.
Attendees can look forward to an exhilarating lineup of discussion topics:
Charting the Future of Limitless Manufacturing in Saudi Arabia
The Impact of Future Trends and Emerging Technologies on Shaping Tomorrow’s World – How Enhanced Technologies Overcome Limitations and Achieve the Unthinkable
Green Manufacturing and Sustainable Practices: A Catalyst for Achieving Saudi Vision 203
Harmonizing Profitability and Sustainability: A Digital Approach for a Greener Bottom Line
For more information on Saudi Manufacturing Show, please click on the link.
Company Demonstrates Resilient Sets of Revenue and Operational Stability in Q4 FY2024
Minetech Resources Berhad (Minetech or the Company), is pleased to report a solid set of financial performance for the fourth quarter ended 31 March 2024 (Q4 FY2024). Despite a challenging market environment, Minetech achieved a revenue of RM33.47 million for the quarter, reflecting the Company’s resilience and operational strength. The Company recorded a gross profit of RM3.62 million in Q4 FY2024, an improvement from RM3.40 million in the corresponding quarter of the previous year (Q4 FY2023).
Encik Abang Abdillah Izzarim, the Executive Chairman of Minetech
For Q4 FY2024, both Civil Engineering division and Bituminous Products see a slight decrease of revenue to RM23.01 million and RM7.6 million respectively. However, the Energy segment, representing Minetech’s venture into renewable energy, contributed RM1.78 million in revenue for Q4 FY2024, marking a successful entry into the renewable energy sector.
For the financial year ended 31 March 2024 (“FY2024”), Minetech reported a revenue of RM128.14 million, an increase from RM123.77 million in the previous year. The gross profit for the year was RM14.97 million, up from RM13.42 million in the previous year. The Company recorded a loss before tax of RM6.85 million, an improvement from the RM7.92 million loss in the previous financial year. The net loss for the financial year was RM8.82 million, a notable improvement from the net loss of RM11.87 million in the previous year. This improvement is primarily attributed to enhanced operational efficiencies, stringent cost management practices, and strategic project completions that reduced overall expenditure. The Company also benefited from increased contributions from the Energy segment, which helped offset declines in other areas.
A significant highlight for Minetech Construction Sdn. Bhd. (“MCSB”), a wholly-owned subsidiary, is the renewal of a substantial contract with Able Return Sdn. Bhd. and Damar Consolidated Exploration Sdn. Bhd. for the Selinsing Gold Mine Project, valued at approximately RM230.0 million. This renewal, effective from 1 January 2024 to 31 December 2026, signifies an increase in production volume and contract value, reflecting the expanded mining area and operational scope. This contract sets a positive trajectory for Minetech’s future projects and reinforces the Company’s capability and commitment to growth.
Encik Abang Abdillah Izzarim, the Executive Chairman of Minetech, expressed his perspective on the Company’s performance, stating, “While the quarter presented several challenges, our strategic direction and adaptability have proven effective. The contract renewal for the Selinsing Gold Mine Project is a testament to our capabilities and commitment to growth. We remain focused on driving sustainable value for our stakeholders as we navigate the evolving market landscape.”
Adding to this, he highlighted the Company’s goal of turning profitable: “Our primary objective moving forward is to steer Minetech towards profitability. Through strategic initiatives, cost management, and operational efficiency, we are dedicated to transforming our financial performance and delivering long-term value to our shareholders.”
As at 5:00 P.M. 30 May 2024, the share price of Minetech closed at RM0.135, reflecting a market capitalisation of RM241 million.
Technology leader in providing fully customised, intelligent manufacturing automation solutions, GENETEC TECHNOLOGY BERHAD (“Genetec” or the “Company”) recorded another consistent and solid quarter performance, maintaining a healthy momentum with a 7.5% year-on-year YoY increase in revenue for the quarter to RM70.5 million from RM65.6 million in Q4FY2023. Genetec’s PBT and PAT rose to RM19.1 million and RM17.7 million or by 40.4% and 59.5% respectively, for the quarter under review versus RM13.6 million and RM11.1 million a year ago.
On the overall, the Company’s solid performance for the quarter saw an improvement across all key financial indicators due to continued costs and operational efficiency that allowed the flow through of its top line to boost bottom-line numbers. Performance highlights for the quarter include, a 33.0% gross profit (“GP”) margin versus 29.0% in the preceding year reflecting a 4.0% YoY increase, a 27.1% PBT margin versus a 20.7% margin in Q4FY2023, and a PAT margin of 25.1% versus 16.9% in the preceding year.
Chin Kem Weng, Co-founder and Managing Director of Genetec, commented, “Despite ongoing market volatility, uncertainties and concerns especially in the automotive, Electric Vehicle (“EV”), and renewable energy (“RE”) sectors, Genetec has been consistent in our performance. This is due to the Group’s ability to convert our opportunities to orders, especially in securing recurring orders from existing clients. Our high client retention rate is also a key factor to our success and in building our pipeline. Our teams have been and will continue to work closely with our clients to improve on current solutions, as well as to collaborate on new opportunities with other divisions within our client groups to grow our revenue over the long-term.
The EV and Energy Storage (“ES”) segments remain Genetec’s primary revenue contributors and are expected to anchor our earnings prospects in the coming quarters. We are however, actively looking to diversify our revenue sources within these segments to cater to different areas within automotive manufacturing. As our revenues normalise over time, we are focused on increasing cost efficiencies from recurring orders, whilst ensuring quality delivery across all our projects.”
The Group remains confident in its position as a key solutions provider for manufacturing automation for its key clients in the automotive industry that serve the EV and plug-in hybrids (“PHEV”) platforms. To remain competitive, Genetec is constantly enhancing its capabilities and solutions to cater to either platform. At the same time, the Group is engaging closely with its clients and the industries to remain at the forefront of development and planning.
In closing, Chin highlighted his optimism on the prospects for the RE industry. He added, “Growth for RE storage solutions are expected to rise in tandem with the need for clean energy sources as the world continues to replace fossil-based energy with RE sources for industrial, commercial and residential purposes. The most immediate shift is in the transport system where we see efforts to improve the local and international charging infrastructure for EVs especially. From the manufacturing automation perspective, autonomous robotics and software-defined automation are poised to revolutionise industry operations. As a result, Genetec anticipates an increase in demand for our key solutions in automation and energy storage as clients continue to execute their production plans.”
At the end of the quarter, Genetec’s earnings per share (“EPS”) stood at 2.21 sen (basic) compared to 1.50 sen (basic) in Q4FY2023.
About Genetec Technology Berhad
Genetec Technology Berhad is a technology leader in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the Main Market of Bursa Malaysia Securities Berhad (Stock code: 0104). Its principal business focus is in the provision of high-quality, responsive and cost-effective designs, as well as the manufacturing of automated industrial systems, equipment and value-added services for our global customers in the Electric Vehicle (EV), Automotive, Hard Disk Drive (HDD), Consumer Goods and Healthcare sectors.
Hexagon‘s industry-leading asset management solution HxGN EAM, in collaboration with The APP Group, a leader in property and infrastructure advisory, has been chosen by Intermodal Terminal Company (ITC), an Australian intermodal rail terminal operator and owner, for its groundbreaking Somerton Intermodal Terminal project.
Intermodal Terminal
Situated in the outer suburbs of Melbourne, Victoria, the innovative 45-hectare terminal represents one of Australia’s most advanced rail infrastructure developments currently under development. Upon completion, it will claim the title of the country’s largest intermodal terminal ever built and make history as the first fully electric intermodal rail terminal.
The Somerton Intermodal Terminal, at full capacity, is projected to handle over one million 20-foot equivalents (TEU) annually. It has the potential to become the closest terminal to Melbourne to accommodate double-stacked 1,800-metre trains. Additionally, the terminal promises substantial sustainability benefits, expected to eliminate up to 500,000 truck trips from Melbourne’s roads, equivalent to a reduction of 451 million truck kilometers, and trimming carbon emissions by up to 189,000 tonnes.
HxGN EAM, an innovative asset management solution, is designed to improve productivity and lengthen asset lifecycle. It will oversee and maintain the entire asset portfolio within the Somerton Intermodal Terminal project, including internal roads and gates, truck and container movements, container washing, and fumigation facilities, together with a 24×7 control center overseeing all lighting, technology, and rail network control.
Brendon Gibson, ITC’s Chief Operating Officer, said, “We are delighted to collaborate with Hexagon and The APP Group to implement their cutting-edge HxGN EAM solution for our terminal project. ITC is a growing business and HxGN EAM’s scalability ensures that the solution grows alongside ITC’s expanding operations and evolving needs.
“Effective asset management is paramount to the success of our operations, and HxGN EAM offers the advanced capabilities and flexibility we need to optimise performance and ensure the reliability of our terminal infrastructure.”
Supratim Mukhopadhyay, vice president of sales at Hexagon’s Asset Lifecycle Intelligence division, welcomed the partnership between ITC, Hexagon and The APP Group, which is providing implementation support for the project.
“Hexagon is very excited to be supporting ITC’s mission to drive innovation and efficiency in the transportation and logistics industry, alongside our industry partners at The APP Group,” Mukhopadhyay said. “With HxGN EAM, ITC gains a next-generation asset management platform equipped with advanced, scalable capabilities to streamline maintenance processes, optimise resource utilisation and maximize asset performance.”
Construction on the Somerton Intermodal Terminal is currently underway and is due to be completed in 2025.
Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company”) is pleased to provide a business update on the commercialisation progress of THERMAL-XR® powered by GMG Graphene.
GMG and GMG’s THERMAL-XR® powered by GMG Graphene coating was awarded as Most Disruptive Technology Award and Best Chance for Market Success Award at the Data Center World Conference in Washington DC, USA on the 18th April 2024. The Data Center World conference is a global industry event that combines real world, practitioner and thought leader expertise with in-depth research and data, and access to a full spectrum of solution providers looking to drive the industry forward.
Most Disruptive Technology Award is the award for the technology that the judges determine to have the best opportunity to create short-term positive market, sales, or customer service disruption among existing data center technologies. Best Chance for Market Success Award is the award for the technology that judges determine will be the most successful at creating revenue upside and profit for the startup company.
THERMAL-XR® provided a 15.4% improvement in energy efficiency in an Aviation IT Data Center in Singapore:
End-user Customer Engagement in the USA is ongoing with North America Distribution Partner Nu Calgon, which is known as the largest specialty chemical provider to the HVACR market in North America. Nu-Calgon has a 37 person sales team with approximately 4000 distribution points. Nu-Calgon’s Cool Worx powered by GMG Graphene was introduced to the North American HVACR industry at the AHR Expo in January 2024. As previously announced Thermal XR provided a 36.7% reduction in energy when demonstrated at the High School Gymnasium, Harlingen Texas on a 30 ton Aaon packaged rooftop air-conditioning system.
GMG and Nu Calgon are reviewing and progressing next steps for its THERMAL-XR® re-submission for its USA Environmental Protection Agency’s (EPA) approval with a full Pre-Manufacture Notice (PMN) to import and sell in the USA as previously announced.
GMG has also received its first order for THERMAL-XR® production coating trials from an Air Conditioner Manufacturer in China and is in discussions about product testing with various other Air Conditioner Manufacturers in both China and USA.
GMG has successfully completed the THERMAL-XR® coating project work at a number of Beach Front Hotels including the five star eco-resort Elements of Byron where the main targeted benefit is corrosion resistance for both the condenser coils and the outside air conditioner casing. Please see customer testimonial from the hotel owner: https://graphenemg.com/thermal-xr-testimonial-by-elements-of-byron/
Based on the success of these projects, GMG has focused a sales campaign targeting the sale of THERMAL-XR® to Queensland and New South Wales based coastal hotels and resorts given their air conditioners are often found to fail faster due to more aggressive corrosion from the sea air. GMG’s THERMAL-XR® can provide high Corrosion Protection whilst potentially providing energy savings for their HVAC equipment. Under third party laboratory re-testing conducted by Industrial Inspection & Analysis in St. Louis Missouri USA, THERMAL-XR® has now successfully achieved 10,000 hours salt sea spray testing.
GMG has also received an order to complete the remaining two stages of the Australian micro-Liquefied Natural Gas (LNG) plant GMG supplied and coated THERMAL-XR® in 2022 after successfully increasing production capacity approximately 16% on the initial gas cooling stage of the LNG plant.
GMG has received an order for THERMAL-XR® from a global Train Manufacturer to carry out supply and service of the product on train air conditioning systems in China after initial successful testing. In addition, GMG is also testing THERMAL-XR® with a global Truck Manufacturer for radiator and other equipment application trials.
Tim Edwards, Head of Sales is leading these activities for the Company with a key focus on driving sales in the HVAC market with significant experience and industry knowledge. Mark Lock, Global Key Account Manager has retired from GMG and the Company thanks Mark for his significant contributions in progressing THERMAL-XR®.
GMG’s Managing Director and CEO, Craig Nicol, commented: “The progress GMG is making with THERMAL-XR® is exciting. The various types of industries that are now trialling and in some case ordering the product including after-market air conditioning, data centres, air conditioner manufacturers, truck and train manufacturers and industrial facilities such as LNG plants.”
About THERMAL-XR® powered by GMG Graphene:
THERMAL-XR® COATING SYSTEM is a unique method of improving the conductivity of corroded heat exchange surfaces and improving and maintaining the performance of new units at peak levels. The process coats and protects heat exchange surfaces while improving and rebuilding the lost corroded thermal conductivity and increasing the heat transfer rate by leveraging the physics of GMG Graphene, resulting in an efficiency improvement and a potential power reduction.
THERMAL-XR RESTORE® is powered by GMG Graphene. PATENT PENDING
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process. GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, ‘tuneable’ and low/no contaminant graphene suitable for use in clean-technology and other applications.
The Company’s present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications. In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning (“HVAC-R”) coating (or energy-saving coating), lubricants and fluids.
In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries (“G+AI Batteries”).
GMG’s 4 critical business objectives are:
Produce Graphene and improve/scale cell production processes
Craig Nicol, Chief Executive Officer & Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
Leo Karabelas at Focus Communications Investor Relations, leo@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “expects” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or will “potentially” or “likely” occur. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding customer engagement in the USA, the review and progression of the Company’s EPA approval with a PMN, discussions with air conditioner manufacturers in Chian and the USA, the benefits of THERMAL-XR®, and the testing of THERMAL-XR® with a global truck manufacturer.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions relating to customer engagement in the USA continuing with Nu Calgon, the Company re-submitting an application to the EPA for approval with a full PMN, that discussions and product testing with various air conditioner manufacturers in the USA and China will continue, that THERMAL-XR® can provide high corrosion protection while potentially providing energy savings for HVAC equipment, and that GMG will continue testing THERMAL-XR® with a global truck manufacturer for radiator and other equipment application trials.
Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of GMG to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that GMG and Nu Calgon will not continue with end-user customer engagement in the USA, that GMG will not re-submit an application to the EPA for approval with a full PMN, or that the Company’s submission to the EPA will not be approved, that discussion with air conditioner manufacturers in China and the USA will not continue, that THERMAL-XR® will not provide the benefits expected by management to HVAC equipment, that the testing of THERMAL-XR® with a global truck manufacturer for radiator and other equipment application trials will not continue, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading “Risk Factors” in the Company’s annual information form dated October 12, 2023 available for review on the Company’s profile at www.sedarplus.ca.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Crown Digital, Singapore’s first full-stacked F&B tech startup and the creator of Ella the Robot Barista, has joined AIM Global, the Global Alliance on Artificial Intelligence for Industry and Manufacturing.
Crown Digital joins AIM Global as the first Singaporean company together with a diverse range of companies and institutions globally to support its ultimate goal of “progress by innovation” globally by harnessing the possibilities of frontier technologies. This strategic collaboration reflects its commitment to advancing safe, sustainable, and inclusive use of AI in industry and manufacturing.
On being part of AIM Global, Keith Tan, CEO and Founder of Crown Digital shared “This partnership affirms Crown Digital’s belief in responsible adoption of AI technologies for industrial development globally. We are proud of Ella’s recognition as a positive use case in driving the autonomous future of F&B, especially with the recent resurgence of AI and Robotics. We look forward to the opportunity to drive AIM Global’s vision, priorities and key initiatives related to AI with international stakeholders in both private and public sectors,” Keith Tan, CEO and Founder of Crown Digital
Guided by the United Nations Industrial Development Organization (UNIDO), AIM Global promotes the responsible development and deployment of AI and frontier technologies. Aligned with the UN Secretary-General’s Our Common Agenda, AIM Global shapes a digital future that is open, secure, and beneficial to all.
AI technologies are transforming industry and manufacturing, offering unprecedented opportunities for increased efficiency, productivity, and sustainability. However, the adoption of these technologies also brings ethical considerations, privacy concerns, and the imperative for inclusivity. As a new member, Crown Digital is excited to contribute to AIM Global’s mission of unlocking the full potential of AI for industry.
Continuing its support to the United Nations Sustainable Development Goals and recognising the importance of sustainability and responsible consumption, Crown Digital has also partnered with Terrascope, a global decarbonisation SaaS platform that supports enterprises in their green transformation. As part of their collaboration, Crown Digital worked closely with Terrascope to measure the carbon footprint of six coffees featured on their Ella menu, encompassing both cradle-to-gate and cradle-to-grave analysis.
Crown Digital, a Singaporean start-up aimed to propel the future of F&B through its autonomous solutions, has since grown to establish itself as a tech-driven enterprise to bring gourmet coffee to lovers of the aromatic beans globally through partnerships with Ella the Robot Barista across multiple industries.
At the 35th Palm & Lauric Oils Price Outlook Conference & Exhibition that took place in Kuala Lumpur, Malaysia, conference attendees were served with a special blend of hot chocolate and mocha infused with MCT (medium-chain triglyceride) oils. This innovative pairing showcased the potential for combining advanced technology with health products and the endless possibilities to such partnerships in elevating brand experiences.
Crown Digital continued to elevate its partnership versatility when it demonstrated successes of payment gateway integration at the Mobile World Congress in Barcelona, Spain, through a collaboration with e&, one of the largest telecommunications and digital services providers in the Middle East, Africa and Asia. Conference attendees got to witness the swift and seamless process and integration from ordering, payment to receiving their customised order of the high-quality caffeine beverage made by Ella.
Singaporeans can also conveniently experience a cup of Ella’s brew by paying using DBS Paylah! or PayNow. This is powered by Crown Digital’s integration with DBS MAX, DBS Bank’s end-to-end cashless collection solution for businesses.
There is no rest planned for Ella just yet as Crown Digital sets its sights on participating in various industry conferences around the Asia Pacific region, including major cities such as Bangkok, Shanghai, Hong Kong and Osaka, as it continues to establish itself as a trailblazer in the emerging robotics and automation space and not just a F&B startup.
About Crown Digital
Full-stack start-up Crown Digital began with the goal of delivering a contactless coffee experience gourmet experience to the world’s growing community of grab-and-go commuters. Its creation, ELLA, the one of world’s first successful robot barista, humanised technology and demonstrated the potential of robotics and AI to re-invent the commuter lifestyle experience and re-energize urban retail. As ELLA deploys across major Asian transit hubs and retail locations, Crown Digital brings its expertise and insights to find new ways to create social value through robotics. The company strives to re-imagine and re-invent consumer-facing robotics to become the leading inventor, operator, and distributor of future-ready solutions.
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