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Laser Photonics Inks Deals With Brokk, Fastenal And ISL To Bring Its Laser Technology To More Markets

Benzinga

By Meg Flippin, Benzinga From removing contaminants and cleaning corrosion to marking and engraving material, Laser Photonics Corporation (LPC) (NASDAQ: LASE) and its laser-based solutions are changing the way industry professionals work. The company's prowess has been on full display this year, with the Orlando, Florida-based company forging key strategic alliances that should position it for growth as it continues to expand. The laser-processing market was valued at $20.64 billion in 2022 and is expected to hit $44.02 billion by 2032 according to Precedence Research. Laser Photonics Corporation stands out in the laser industry space thanks to its next generation of leading-edge laser blasting technologies and equipment that the company says is precise, non-abrasive, eco-friendly, and FDA CDRH-certified. LPC’s technology also addresses the health, safety, environmental, and regulatory issues associated with currently used industrial processes, which is why it continues to gain Fortune 1000 companies in the aerospace, automotive, defense, energy, maritime, and space industries as clientele. Next Up: Robotic Lasers Laser Photonics recently announced a technology partnership with Brokk Inc., a leading manufacturer of remote-controlled robotic machines. The two are teaming up to bring laser technology to the mining, tunneling, construction, metal processing, military, nuclear disposal and decommissioning industries. "Our technology is a perfect match for the dynamic and complex jobs that Brokk machines undertake daily, and we are proud to have forged a technology partnership with the company," said Wayne Tupuola, CEO of LPC. "In this collaboration with Brokk, we stand at the intersection of automation and laser technology, pushing limits and providing operators with cutting-edge machines that help them streamline operations." Through the partnership, LPC and Brokk are aiming to change the way professionals work. Integrating LPC laser cleaning and cutting technology into Brokk's remote-controlled robots will enable operators to handle heavy jobs in dangerous settings more effectively and safely – whether it's decommissioning a nuclear plant or tunneling in a mine. "This technological partnership between Brokk and Laser Photonics translates to their laser cutting and surface cleaning technology being a valuable new addition to our state-of-the-art arsenal," said Brokk's Executive Vice President for Nuclear, Military, Security and Rescue, Tony Marlow. "Our brand is committed to providing reliable and safe remotely operated systems, and we look forward to equipping our robots with cutting-edge lasers. By collaborating with LPC, we continue to distinguish ourselves as the leader in our market while expanding our capabilities,” Marlow said. New Market Opportunities The partnership with Brokk Inc alone presents a big opportunity, but it's not the only recent partnership Laser Photonics has made. LPC recently entered into a distribution agreement with the Fastenal Company (NASDAQ: FAST) – the largest fastener distributor in North America and a leading distributor and provider of industrial technology and products – for its CleanTech line of laser systems. With LPC's laser cleaning technology, users can remove surface contaminants by directing a focused laser beam onto a targeted area to ablate unwanted material. It removes rust and corrosion while leaving the underlying substrate intact. As part of the distribution deal, LPC gets access to Fastenal's global distribution network and will benefit from the company's service model, which centers on approximately 3,300 locations, each supporting its local customer base. Laser Photonics says the partnership gives LPC access to one of the most robust and well-equipped distribution networks in the world. "This agreement will increase our customer base and expand our distributor network while equipping Fastenal with cutting-edge industrial laser solutions that its clients have been demanding," said Tupuola when announcing the distribution agreement earlier this year. "We look forward to building on this new relationship and providing world-class laser systems to an even larger audience." Initially, several products will be offered through Fastenal, including Laser Photonics' CleanTech Handheld LPC-50-CTHD Laser Cleaning System, its CleanTech Blaster Cabinet LPC-50-CTBC Laser Cleaning System and its MarkStar Handheld LPC-20-MSH Laser Engraving System, among others. Troy Parkos, Regional VP of the Wisconsin area for Fastenal, said earlier this year that the company receives a lot of inquiries from clients about laser technologies, including laser cleaning systems. "Our extensive distribution network and ability to deliver, paired with the cutting-edge technology of Laser Photonics, makes this the ideal partners Courting the Defense Industry Those two announcements are just the start for Laser Photonics as the company continues to build out its strategic network and partnerships. LPC recently announced that they entered into a distribution agreement with Incredible Supply & Logistics (ISL) – an award-winning product distribution, mission kitting and third-party logistics company that is specialized in supporting federal government customers and defense contractors as well as serving the maritime and space communities. This partnership will help LPC expand its distributor network while equipping ISL with the cutting-edge industrial laser solutions that its government and defense clients have been demanding. This will serve to increase LPC's presence in the defense industry, which the company has continued to grow. ISL and Laser Photonics have even gone as far as co-hosting an exhibit booth at The Technology Showcase in Norfolk Naval Shipyard (NNSY), which took place in May. The annual event was hosted by NNSY in partnership with the National Center for Manufacturing Sciences (NCMS), providing a platform for contractors and civilians to demonstrate or seek out innovative technologies and prospective solutions for the maritime industry. At the show, Laser Photonics and ISL presented a selection of laser systems, and LPC was able to demonstrate how its products can help with rust control, corrosion control and coating removal, optimizing MRO processes and streamlining inventory maintenance. Laser Photonics also highlighted its full portfolio of industrial-grade laser systems for material processing. Featured photo by Milind Kaduskar on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

June 21, 2024 08:35 AM Eastern Daylight Time

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Bitcoin Slump Spurs Investor Rush to Raboo and Toncoin: A New Crypto Safe Haven?

Total Media

The Bitcoin price is just not doing what everyone wants it to. It’s way too low for anyone’s liking and defying all predictions, and this is causing investors to look at better performers. Toncoin is one of the better performers in the large-cap tokens at the moment, and the new crypto Raboo’s presale is drawing investors thanks to its unique product offering. A closer look at these coins sheds some light on investment decisions. Bitcoin (BTC): Infuriatingly And Confusingly Low Bitcoin Price Leaves Investors Puzzled. ETFs, halving cycles, commercial adoption… all the things everyone said would be needed for a 100k Bitcoin price are in place, and yet Bitcoin is sitting at $63.5k, 13.6% below its ATH. Analysts have been predicting a Bitcoin price breakout for months now. Still, Bitcoin remains stubbornly sluggish, and it seems nobody can agree on why the Bitcoin price refuses to go up. This Bitcoin slump is a double-edged sword as the lower price gives investors a prime opportunity to ‘buy the dip’, but the dip is lasting too long. All the catalyst elements for a bear market have come and gone without the Bitcoin price moving much, leaving investors to wonder if there may not be better investments elsewhere. Toncoin (TON): Not your average coin! Toncoin has been surging on the news of Notcoin. Notcoin? A telegram-based game with over 35 million players. The new crypto Notcoin will be minted on the Toncoin network. The news of Notcoin has seen Toncoin spike with a 8% increase over the last thirty days, making Toncoin a singular green candle in a sea of red. Toncoin has already grabbed headlines as it plows through into the top 10 tokens. A year ago, it was nowhere, but currently, Toncoin sits at a higher market cap than Cardano (ADA), and Shiba Inu (SHIB). With the massive user base of Telegram, Toncoin is probably one of the best coins to invest in. The market loves utility coins, and Toncoin is delivering. Raboo (RABT): New Crypto Combines Meme Coin Cred With Finance Foundations The new crypto coin Raboo is drawing a lot of investor input thanks to its unique blend of AI tech, Meme cool, and financial chops. Raboo has a lot of street cred in the meme department, and the AI engine which creates and curates the memes ensures that Raboo is always fresh, always fun. But let’s be honest: there needs to be more than memes to make a currency worth something, and ‘more’ is something Raboo has in spades. The Raboo ecosystem includes an NFT market to give token holders access to the $40 billion non-fungible token market and a liquidity pool where Raboo can be staked for passive income at astonishing APY rates. Tokenomics-wise, Raboo is limited to 1.8 billion tokens, which already places a scarcity on the token, but with regular token burns, the deflationary model will only see the tokens go up in value over time. And as a cherry on the top – Raboo will even offer branded merchandise because, honestly, who doesn’t want to belong to one of the coolest meme coin communities around! The good news is Raboo is still in presale, which means $RABT tokens are still available at rock-bottom prices. It is expected to explode 100x once it hits the open market. Conclusion: As the Bitcoin price battles to bounce back, the new crypto token Notcoin is giving life to Toncoin and demonstrating that there is still life in the bull market. And speaking of new crypto tokens, the Raboo presale has already gained over $1.6 million in liquidity thanks to the 2,500 token holders and 8,000 subscribers, making it the hottest presale of the year. Raboo’s $RABT tokens are now available in presale at $0.0048. You can participate in the Raboo presale here. Contact Details Total Media Solutions media@Totalsolutionspr.io Company Website https://rabootoken.com?&utm_source=marketing&utm_campaign=NDPR&utm_id=2006-11

June 21, 2024 08:00 AM Eastern Daylight Time

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HTX Ventures丨BTCFi and CoreX: Pioneering the Future of Bitcoin DeFi

HTX Ventures

Foreword Singapore / June 21, 2024 – 2024 marks a year of breakthroughs for Bitcoin: BTC ETFs have received approvals from U.S. and Hong Kong regulators. Additionally, with the halving completed in May, Bitcoin is steadfastly moving toward grander goals. On the application side, we've seen ecosystem innovations introduced by Ordinals. Its increasing popularity has led to network congestion, bringing Bitcoin scalability back to the market's attention. Over the past few months, the market has seen a flourishing of Bitcoin Layer2 solutions and sidechains, with BTCFi regarded as a key sector with vast potential for growth. In the early stages of BTCFi's development, we noticed Core, a public chain that addresses Layer1 network security, speed, and decentralization issues with innovative solutions. Its Satoshi Plus consensus mechanism leverages the Bitcoin network's security to deliver efficient transaction processing speed (TPS) while maintaining sufficient decentralization (for details on the Core Chain, see https://docs.coredao.org/core-white-paper-v1.0.7 ). We believe that the Core Chain provides the best environment for developing BTCFi. As one of the Core Chain's earliest ecosystem partners, HTX has strategically invested in CoreX, a decentralized exchange (DEX) built on the blockchain. HTX views CoreX as the future gateway and liquidity hub of the CoreDAO ecosystem, which will offer a brand-new trading experience. This report walks through CoreX's design philosophy, features, and strengths. HTX believes that CoreX will become one of the most competitive DEXs in CoreDAO and, as a booster for the ecosystem, will act as the center of liquidity for CoreDAO users. Why Are We Optimistic About BTCFi? Bitcoin decentralized finance, or Bitcoin DeFi, or BTCFi, means introducing decentralized financial functions into the Bitcoin ecosystem. Bitcoin has long been the blockchain network with the most robust consensus and security. However, due to its lack of smart contract capabilities, Bitcoin cannot host decentralized applications (dApps) like Ethereum or other public chains and is mostly used for "HODLing." For Bitcoin holders, experiences like on-chain lending, decentralized trading, and futures trading have largely been missing. In early 2024, Ordinals and Runes explored new use cases for the Bitcoin ecosystem, demonstrating the market's interest in Bitcoin's general-purpose functionalities. However, we believe that Bitcoin's potential in DeFi is still waiting to be unlocked. Currently, the total value locked (TVL) in BTCFi is close to $1.2 billion, accounting for only 0.09% of Bitcoin's total market cap. By contrast, mainstream public chains with smart contract capabilities have much higher TVL-to-market cap ratios: 14% for Ethereum, 6% for Solana, and approximately 3% for Ton. Even at a 1% ratio, BTCFi has the potential for tenfold growth. We believe BTCFi not only unleashes significant value for Bitcoin but also creates new income-generating opportunities for BTC holders. Through BTCFi, holders can do more than just "HODLing"; they can fully utilize their BTC by staking, lending, and market making, among other means. As BTCFi protocols evolve, they are expected to compete with, and even outperform, existing public chains, fostering a more diverse and robust DeFi ecosystem. The Rise of CoreDAO There are many solutions for expanding Bitcoin's functionality. Core, a Bitcoin-powered, EVM-compatible Layer1 public chain, stands out as a trailblazing approach. Core ensures its security through a consensus mechanism called Satoshi Plus, which combines Delegated Proof of Work (DPoW), Delegated Proof of Stake (DPoS), and non-custodial Bitcoin staking. First, DPoW leverages the security of Bitcoin's PoW, allowing miners to delegate their hash power to Core nodes while providing hash power to the Bitcoin network, thus ensuring consensus security for the Core Chain. Currently, 46% of Bitcoin nodes are delegated to the Core Chain, providing 259 EH/s of hash power. Additionally, Core's security is bolstered by the CORE tokens and Bitcoin delegated within its network, with nearly 125 million CORE and 3,000 BTC staked. This hybrid consensus model of POW and DPOS guarantees network security while enabling fast transaction processing. Core's design of non-custodial staking is another groundbreaking innovation. By eliminating the need to trust centralized custodians, Core allows BTC holders to participate in its consensus and earn staking rewards without losing control of their assets. This significantly lowers the barrier for BTC holders to engage in staking while enhancing Core's security. BTC holders do not need to bridge their assets cross-chain or convert them into wrapped assets like WBTC. This fully non-custodial mechanism can potentially attract massive BTC holders to participate in building the Core network's consensus. Looking toward CoreDAO's future, we believe that DeFi will be a key focus area for the Core ecosystem. Bitcoin users will be able to engage in lending, futures trading, and other protocols while retaining their BTC holdings. Innovations may include using Bitcoin as collateral for opening positions and using Bitcoin for liquidity rewards or staking liquidation. Additionally, on top of staking rewards, liquid staking mechanisms are poised to emerge. What Is CoreX? CoreX, the flagship DEX within the CoreDAO ecosystem, provides users with an outstanding trading environment through its simple yet smart design and comprehensive toolkits. By utilizing the Uni V3 infrastructure, CoreX addresses key challenges such as liquidity shortages and slippage. Additionally, it integrates AI technology to create a vibrant social trading hub. How Will CoreX Create New Trading Experiences? CoreX brings new trading experience to users through its optimized user experience, social features, and AI technology. It aims to lower the barriers for new users, enabling them to easily enter the DeFi space. CoreX significantly enhances the traditional DEX experience by offering a user-friendly trading environment. The platform provides advanced real-time charting tools that allow traders to track price fluctuations of selected tokens. It also integrates technical indicators and drawing tools for deeper analysis. These features are particularly helpful and user-friendly for traders who wish to share their insights on social media. Moreover, detailed information about each trade, including realized profits or losses, is displayed on the trading interface, making important data easy to understand and access. Looking ahead, CoreX plans to introduce customization options that allow traders to tailor their trading environment using an intuitive drag-and-drop interface to meet their specific needs. CoreX also elevates social trading to a new level. It offers global chat rooms and coin-specific chat rooms where traders can exchange ideas and share trading opportunities with each other. Loyal users are given access to 1-on-1 encrypted messaging and the privilege to create private chat rooms. Additionally, CoreX integrates social elements into its operations, including offering high returns through staking programs and hosting exclusive online and offline events to recognize and reward NFT holders. The platform will soon launch a massive social airdrop event that offers up to 10 million tokens, which has garnered much attention. Moreover, CoreX provides a smart trading assistant that uses machine learning algorithms to recommend trading opportunities based on individual preferences, technical analysis, and social media sentiment. It also offers a one-click copy trading feature, allowing users to easily follow the strategies of successful traders. Furthermore, by partnering with algorithmic trading companies, the platform enables precise price predictions, helping users excel in the competitive trading environment. HTX Ventures' Strategic Investment in CoreX Crypto traders are always looking for platforms that offer consistent returns and high-quality trading experiences. CoreX prioritizes user experience and uses social and AI technologies to provide a superior and smart trading environment. This makes it an attractive focus for us. We believe that CoreX's emergence will take CoreDAO's DeFi development to the next level. Moving forward, we will remain committed to the CoreDAO ecosystem, leveraging our resources and strengths to drive its growth. —--------------------------- About HTX Ventures: HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including Dragonfly, Bankless, Gitcoin, Figment, and Animoca. Visit us here. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/en-us/ventures About HTX Ventures HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures presently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most vigorous Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including IVC, Shima, and Animoca. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/en-us/ventures

June 21, 2024 04:15 AM Eastern Daylight Time

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HTX Steps Up Security Measures with Monthly Reports, Safeguarding User Assets on Full Steam

HTX

According to cyber security statistics, between January 2012 and February 2024, there have been 148 crypto exchange hacks, resulting in a total loss of over $11 billion. Recently, cyberattacks targeting exchange accounts have occurred more frequently, with increasing sophistication. HTX, the world-leading cryptocurrency exchange, has always prioritized user asset security. As part of its security efforts, the exchange has adopted Merkle tree proof of reserves and regularly discloses reserve data. This marks HTX one of the earliest movers in proving platform reserves. From the end of 2022 to the present, HTX has conducted a total of 20 Merkle tree reserve audits, maintaining a reserve ratio above 100% to ensure that users can safely deposit and fully withdraw assets at any time. HTX will publish security reports monthly and let data tell the company's effective efforts in security. HTX's security efforts in May 2024 resulted in: Regarding user asset security as its lifeline, the exchange has taken a wide range of security measures, including monthly disclosures of reserve ratios, monthly security reports, and open-source verification tools for Merkle tree data, wallet address ownership, and on-chain assets. Looking ahead, HTX is poised to employ even higher financial standards to ensure the long-term security of user assets. About HTX Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/

June 21, 2024 04:03 AM Eastern Daylight Time

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Cool Trends for Summer!

News Media Group, Inc.

Contact Details News Media Group, Inc. Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/

June 20, 2024 03:08 PM Eastern Daylight Time

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FuelRod Launches Free Battery Swaps at Austin-Bergstrom International Airport

Fuel Rod

FuelRod, a leading provider of portable power solutions, today announced an exclusive promotion sponsored by Austin-Bergstrom International Airport (AUS). This groundbreaking initiative, which runs through November 30, allows travelers at AUS to swap their depleted FuelRod chargers for fresh ones at no cost. This marks the first promotion of its kind at any airport, highlighting FuelRod’s commitment to ensuring travelers have reliable access to power and a stress-free travel experience. Travelers passing through AUS can now enjoy the convenience of swapping their depleted FuelRods for fully charged ones up to 10 times per month, free of charge. This hassle-free process can be completed at any of the several FuelRod kiosks throughout the airport by simply selecting the “swap” button, entering a phone number, and exchanging the used rod for a fresh one. Phone numbers are collected to track the 10-use limit. For travelers who prefer not to provide a phone number, the standard swap fee of $1 applies. Austin-Bergstrom International Airport is the first airport to offer such a promotion, setting a new standard for passenger comfort and convenience. This collaboration with FuelRod reflects a shared commitment to keeping travelers charged and connected by ensuring a reliable portable power source for their devices. FuelRod aims for this promotion to inspire similar initiatives nationwide, bringing sustainable charging solutions to travelers across the country. “We are extremely proud of our partnership with Austin-Bergstrom International Airport and their support of our vision for easily accessible, eco-friendly charging for travelers on the go,” said Joe Yeagley, FuelRod Co-founder. “AUS, as the first airport to sponsor the FuelRod “Swap” service, exemplifies Texas hospitality and demonstrates their commitment to providing an elevated experience for their passengers.” About FuelRod FuelRod is a California-based company specializing in portable power solutions. The developer of the FuelRod kit, the first reusable, portable charging system, FuelRod allows you to charge your mobile device on the go and then recharge or swap it for a fresh one. With a growing network of kiosks nationwide, FuelRod ensures your devices stay powered virtually wherever you go. Learn more at fuel-rod.com. Contact Details Razor Sharp PR Ray Young +1 512-694-6097 ray@razorsharppr.com Company Website https://www.fuel-rod.com/

June 20, 2024 09:00 AM Central Daylight Time

Fueled by Seed Round and Partner Adoption, Synergist Technology Delivers Always-On AI Governance and Compliance

Synergist

Synergist Technology, a leader in Artificial Intelligence (AI) governance and compliance, is poised for expansive growth following the company’s debut in 2023. Upon closing its $5 million seed funding round last month, the company has significantly grown its client base, working with partners like Microsoft to ensure AI solutions meet industry compliance and global governance standards. Synergist Technology's AFFIRM software-as-a-service (SaaS) offering enables users to implement a holistic AI governance framework that encompasses model documents, proactive monitoring of AI policies and assets to detect compliance and model risks, and governance, risk and compliance (GRC) reporting, empowering users to navigate the complexities of the AI governance landscape. “With the global AI market projected to reach $1.81 billion by 2030, it’s imperative to have transparency and compliance integrated into the integrations we’re seeing across industries,” said Elycia Morris, Chief Executive Officer Synergist Technology. “That’s what we’re looking to do at Synergist. We’re encouraged to see our partners prioritize responsible AI and are thrilled to work alongside them in forums such as Microsoft’s Government AI Summit.” With a unique system that tests against published standards and any AI assets, AFFIRM leverages human expertise to manage risks and build trust in client’s AI systems. This safeguard ensures that AI produces fair and unbiased outputs, enhances companies’ reliability and trustworthiness, and ensures alignment with current and future government policies. AFFIRM monitors the performance of AI integration executed by businesses, governments, and consultancies and assists in understanding risks by providing real-time risk assessment dashboards. “I absolutely recognize the growing need for AI compliance, and I believe Synergist Technology is a trusted partner who has shared our vision of understanding the present challenges of both mitigating risk and data compromise in today’s climate of national and global security,” said Vishal Amin, General Manager of Security Solutions, Microsoft. “Their commitment to developing responsible AI compliance tools is both clear and concise. We are beyond excited about the current and ongoing collaboration between both our teams as they empower every organization, agency and governmental entity to achieve more.” “AI uptake is moving at warp speed, and knowing that the information is trustworthy is a real concern for regulators and the public alike,” said Executive Chairman Brad Levine. “Synergist Technology has built a total compliance solution that helps business leaders ensure that their AI systems are used safely and competently. With AFFIRM, we have created a solution that places trust and peace of mind at our clients' fingertips; we help them stay ahead of the compliance curve in an ever-changing AI environment.” With the growing complexity and widespread deployment of AI systems, Synergist Technology’s platform is tailor-made to provide fairness and transparency in AI. This starts by building trust with regulators, the public, and its clients' customers and user bases. About Synergist Technology Synergist stands at the forefront of AI governance & compliance. Our AFFIRM platform helps audit and consulting firms manage AI governance for businesses, government agencies, and AI vendors. We enable organizations to proactively monitor AI policies and assets, detecting compliance and model risks before they escalate. Our commitment to innovation and excellence empowers our clients with complete visibility and control over their AI systems, fostering responsible AI deployment and minimizing compliance and liability risks. To learn more, visit https://synergist.technology/ Contact Details Julia Worthington synergist@kitehillpr.com

June 20, 2024 09:19 AM Eastern Daylight Time

Classiq Collaborates with BMW Group and NVIDIA to Drive Quantum Computing Applicability in Electrical Systems Engineering

Classiq Technologies

Classiq today announced a collaboration with NVIDIA and the BMW Group to optimize mechatronic systems, marking a significant advance in the sophistication of quantum computing implementation in the automotive sector. The initiative is focused on solving a complex computational challenge to find the optimal architecture of electrical and mechanical systems. This problem involves defining the optimal combination of components, from electrical engines and batteries to coolers, and how these should be connected. The goal of this project is to enhance efficiency and reduce energy waste, which can result – among other things – in the increased efficiency of electric vehicles. Classiq’s sophisticated approach demonstrated how cutting-edge quantum algorithms may be used to address the problem, including the Quantum Approximate Optimization Algorithm (QAOA) and the Harrow-Hassidim-Lloyd (HHL) algorithm. The latter of these approaches leverages amplitude and digital encoding to efficiently solve and convert complex linear equations, utilizing a novel Quantum Analog to Digital Conversion (QADC) process. The project resulted in the BMW Group’s quantum experts creating a highly sophisticated quantum program, with many quantum sub-routines, among the most complex quantum programs implemented to date. The implementation was enabled by the advanced modeling and compilation capabilities of the Classiq platform. The large and complex quantum circuit implementation was simulated using NVIDIA GPUs and the powerful NVIDIA CUDA-Q platform. “Our collaboration with Classiq and NVIDIA has enabled an innovative quantum implementation that pushes the boundaries of what is possible in the application to automotive technologies,” said Lukas Mueller, Lead Future Compute at BMW Group IT. “NVIDIA’s quantum stack has been instrumental in simulating this complex algorithm, facilitating its detailed testing and refinement.” “This project exemplifies the power of collaboration in the quantum computing sphere. By bringing together the best of quantum hardware, software and automotive domain expertise, we have achieved groundbreaking advancements in a remarkably short time,” said Nir Minerbi, CEO of Classiq Technologies. “Quantum computing, which has the potential to transform society, will require accelerated computing with extreme performance for users to take full advantage of its value,” said Tim Costa, director of HPC and quantum computing at NVIDIA. “NVIDIA’s collaboration with innovators such as the BMW Group and Classiq is pushing the boundaries of quantum simulation and helping to usher in an era of useful quantum computing.” Quantum computing is still a nascent technology, and further effort is required to bring the developed solution to industrial applicability. Classiq and its collaborators continue to develop the interface between automotive technology and quantum computing by expanding the boundaries of quantum design, implementation, and computation. About Classiq Classiq Technologies, the leading quantum software company, provides an all-encompassing platform (IDE, compiler and OS) with a single point of entry into quantum computing, taking you from algorithm design to execution. The high-level descriptive quantum software development environment, tailored to all levels of developer proficiency, automates quantum programming. This ensures that a broad range of talents, including those with backgrounds in AI, ML and linear algebra, can harness quantum computing without requiring deep, specialized knowledge of quantum physics. Classiq democratizes access to quantum computing and equips its users to take full advantage of the quantum computing revolution, including access to a broad range of quantum hardware. Classiq’s core technology, algorithmic quantum circuit compilation, is engineered to power the quantum ecosystem of today and the future. Classiq works closely with quantum cloud providers and advanced computation hardware developers providing software for use with quantum computers, HPC and quantum simulators. Backed by investors such as HPE, HSBC, Samsung, Intesa Sanpaolo and NTT, Classiq’s world-class team of scientists and engineers has distilled decades of quantum expertise into its groundbreaking quantum engine. Follow Classiq on LinkedIn, X (formerly Twitter) or YouTube, and visit the Slack community and https://www.classiq.io to learn more. Contact Details Rainier Communications Michelle McMahon mmcmahon@rainierco.com Company Website http://www.classiq.io/

June 20, 2024 08:00 AM Eastern Daylight Time

Saison Technology Invests in DNX Ventures Fund IV U.S. Fund - Strengthening Technological Capabilities and Human Resource Development through AI, SaaS, and Other Startup Collaborations

Saison Technology International

Saison Technology, a global leader in data management and integration, announced investing $10 million in DNX Ventures Fund IV US. Founded in 2011, DNX Ventures (DNX) is a venture capital firm investing in B2B startups from seed to late stage, primarily in North America and Japan. It has over 190 portfolio companies with 23 exits and over $630 million under management. Saison Technology has been expanding its data management and integration business since its 2023 launch of HULFT Square, the company’s cloud-based iPaaS solution that is gaining significant adoption in Japan, Europe, and the United States. Through this investment in DNX, Saison Technology will collaborate with DNX’s portfolio of AI, SaaS, and other startups in North America and Europe, providing transformational products, services and support to them and collaborative solutions for their clients. “We are very pleased to have Saison Technology as a limited partner in Fund IV,” said Mitch Kitamura, Managing Partner/COO at DNX Ventures. “Beyond providing venture capital, we aid our portfolio companies with value-added resources through collaboration with our limited partners. Saison Technology is a market leader with many decades of experience helping companies of all sizes with digital initiatives. Through its commitment to Fund IV, Saison Technology will help guide our portfolio companies in expanding their businesses.” “As companies continue to purchase and implement cutting-edge cloud and AI technologies, having a proven platform to integrate them with existing enterprise applications and legacy data systems is essential,” said Makoto Hayama, President and CEO of Saison Technology Co. LTD. “Our company is one of the only providers that offers data management and integration solutions in the cloud, on-premise and as a managed service. We will provide these options to the DNX portfolio and their customers so that they have ultimate flexibility as they navigate more complex IT architectures.” About DNX Ventures DNX Ventures is a venture capital firm based in Silicon Valley and Tokyo that has been investing in B2B startups since 2011, primarily in the US and Japan. To date, in addition to the four main funds, we have managed a total of 11 funds including Annex and Seed, with a total of approximately $630 million USD (¥99 billion JPY), invested in 190 startup companies mainly in the US and Japan, and led 23 companies to exit. Among B2B startups, our main investment areas are AI, Enterprise SaaS, Deeptech, Climate Tech, Retail Tech, and Fintech, all of which we invest in at the early stage. Additionally, DNX Silicon Valley Team actively supports large corporations’ Open Innovation activities by leveraging Silicon Valley’s ecosystem. Running over 70 programs annually to foster talent development to support Open Innovation and has helped create collaborations between over 200 companies and overseas startups. By leveraging this experience, network, and knowledge, we aim to further collaborate between Japanese corporations and overseas startups and create new businesses. For more information, visit https://www.dnx.vc/jpfund-en/top. About Saison Technology Saison Technology (TYO: 9640) has helped more than 10,000 global enterprises move critical information, streamline data flows, and automate processes to instantly put knowledge where it is needed. Knowledge empowers people, inspires strategy, and transforms businesses and markets. In the right hands, in the right place, it is much more than a set of facts. Knowledge is a force that can inspire innovation, drive profits, and affect positive change. For more information, please visit https://saison-technology-intl.com. Contact Details Saison Technology International Kurt Foeller +1 415-588-6390 kfoeller@saison-technology-intl.com Company Website https://hulftinc.com

June 19, 2024 07:27 AM Pacific Daylight Time