Day: July 15, 2021

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SafeAI Expands to Canada, Announces New Chief Revenue Officer

Autonomous heavy equipment pioneer continues global expansion into key markets, bolsters executive team

MILPITAS, Calif., July 15, 2021 (GLOBE NEWSWIRE) — SafeAI, a global leader in autonomous heavy equipment, today announced continued global expansion with its entry into Canada. To accelerate growth internationally, including in Canada, today SafeAI also announced that David Prusinski has joined the company as Chief Revenue Officer.

With booming construction and mining industries, Canada is a natural next step for SafeAI’s growing business. Canada’s mining industry is one of the largest in the world, accounting for 7.8% of the country’s GDP in 2020. The country’s construction sector is also a leading contributor to the nation’s GDP, with continued opportunities for growth due to government-funded infrastructure projects. With its connected autonomous technology, SafeAI is poised to accelerate productivity in the nation’s heavy industry.

“At SafeAI, we believe autonomy has the power to create smarter, safer, more productive heavy industry. With flourishing construction and mining sectors, Canada is a natural fit for our business,” said Bibhrajit Halder, Founder & CEO at SafeAI. “As we continue to grow our business to meet rising demand for autonomy, we’re proud to also expand our executive team. With years of leadership experience, a proven track record of spearheading growth, and knowledge of the Canadian market, David brings an invaluable perspective to our team as we continue to scale our organization and transform off-road autonomous projects globally.”

Prusinski brings 25 years of experience driving growth at prominent technology companies across Canada to the CRO role. Prior to joining SafeAI, he worked for nine years at Fleet Complete, one of the fastest-growing providers of connected commercial vehicle solutions. Before that, he also held leadership roles at BlackBerry and InSystems.

“Heavy industry is on the brink of a period of mass adoption for autonomous technology,” said Prusinski. “Now that we’ve seen the value and impact of automation for safer, more efficient construction and mining sites, there is no going back. Today, I’m excited to join the team at SafeAI to drive continued expansion and help companies worldwide unlock the value of connected autonomy to improve safety, reimagine workflows, and power results.”

Expansion into Canada comes on the heels of a year of significant growth for SafeAI as the company accelerated off-road deployment of autonomous technology. In late 2020, the company announced partnerships with industry leaders—including Obayashi and The Goodyear Tire & Rubber Company—to expand its ecosystem and more effectively deliver autonomy at scale. Earlier this year, SafeAI announced its expansion into Australia, the world’s largest mining market, and the addition of several new executives to lead the charge. Most recently, the company announced $21 million in Series A funding to accelerate research and development and global growth.

To learn more about SafeAI’s technology, or to get the latest updates, please visit safeai.ai.

About SafeAI
SafeAI is a global autonomous heavy equipment leader focused on advancing modern industry. SafeAI retrofits heavy equipment for autonomous applications in mining and construction to serve a massive ecosystem of industry players with complex needs. By building a software platform with the most advanced, industry-specific AI, SafeAI enables equipment owners to transform existing machines into self-operating robotic assets. The company currently is running an autonomous CAT 725 at a quarry in California. SafeAI is based in Milpitas, CA.

Contact
LaunchSquad for SafeAI
safeai@launchsquad.com

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Sweegen’s Bestevia® Rebaudioside M Approved in Europe

Forging the future with better sugar reduction solutions for food and beverages in the region.

Rancho Santa Margarita, Calif., July 15, 2021 (GLOBE NEWSWIRE) — Sweegen’s footprint in Europe became stronger after the European Union Commission published its approval of Sweegen’s non-GMO Signature Bestevia Rebaudioside M (Reb M) for use in food and beverages.

The approval of Sweegen’s Signature Bestevia Reb M leads the future of wellness in food and drink in Europe. Brands in Europe now have access to the best-tasting highly sought-after stevia sweetener. The availability broadens the toolkit for sugar alternatives to reimagine food and drink, opening new doors for creating healthy products for consumers.

“Sweegen’s Signature Bestevia Reb M approval is a celebration of good health and wellness for product developers and consumers alike,” said Luca Giannone, SVP of Sales. “This is just one of our many milestones in Europe to transform products for having a positive and lasting impact on our ever-evolving health.”

Consumers are increasingly aware of the need to reduce sugar in their diets for better health. Yet, when they are making decisions for purchasing food and beverages, consumers will ultimately select the brand with the best taste. Therefore, tackling the toughest sugar reduction challenges is a priority for brands as taste is the reason for repeat purchases.

The soft drinks industry in Europe is making a pledge to cut added sugars in Europe. The Union of European Soft Drinks Associations (UNESDA) announced on June 29 this year to reduce average added sugars in its beverages by another 10% across Europe by 2025.

In its further commitment to Europe, Sweegen has aligned the availability of its Reb M with commercializing the high-purity sweetener at its manufacturing facility in Europe. The facility is open in Europe for helping food and beverage manufacturers with rapid production and low cost-in-use sugar reduction solutions.

To compliment the approval of Reb M, Sweegen invested in designing and building its Innovation Studio in Reading, England, near London. The studio opened its doors in January 2021 with a full applications team to collaborate with food and beverage manufacturers on exploring the entire consumer landscape to understand what trends are driving consumer behavior, and then provide inspirational ingredients to represent those trend drivers.

“Our rapid innovation in application development enables our customer-focused solutions to help manufacturers create great-tasting, clean, natural, plant-based, sustainable products that meet today’s end-consumer needs and desires,” said Giannone.

Around the world, Sweegen’s Innovation Studios are open globally: Southern California, Mexico City, Reading (London) and very soon in Singapore. These studios will leverage local tastes and knowledge while serving as creative centers to explore and discover product innovations motivated by consumer trends and regional tastes.

“Sweegen’s global regulatory mission is the hallmark of opening new sugar reduction opportunities to manufacturers and brands for replacing sugar in foods and beverages, nutritional products, and many other market products world-wide,” said Hadi Omrani, director of regulatory affairs. “Europe is an important region in our global regulatory vision as we continually forge the future of wellness in food and drink around the world.”

Sweegen offers brands cost-effective and rapid innovation for sugar reduction solutions for beverage, dairy, savory and bakery with its Bestevia Taste Solutions for Europe.

Sweegen is the first company to receive the European Food Safety Authority (EFSA) panel’s safety status for any steviol glycoside produced by alternative and sustainable technologies. To achieve high purity clean-tasting stevia leaf sweeteners, Sweegen uses a bioconversion process starting with the stevia leaf. This process enabled Sweegen to obtain the Non-GMO Project verification for its Signature Bestevia stevia sweeteners in the U.S. market.

Bestevia Reb M was commercialized in 2017 and has already been approved in many regions around the world.

About Sweegen

Sweegen provides sweet taste solutions for food and beverage manufacturers around the world.

We are on a mission to reduce the sugar and artificial sweeteners in our global diet.  Partnering with customers, we create delicious zero-sugar products that consumers love.  With the best Signature Stevia sweeteners in our portfolio such as Bestevia® Rebs B, D, E, I, M, and N, along with our deep knowledge of flavor modulators and texturants, Sweegen delivers market-leading solutions that customers want and consumers prefer.

For more information, please contact info@sweegen.com and visit Sweegen’s website, www.sweegen.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener. These statements are based on current expectations, but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Sweegen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of Sweegen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. Sweegen, Inc. assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.

Attachment

Ana Arakelian
Sweegen
+1.949.709.0583
ana.arakelian@sweegen.com

 

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Rapid Micro Biosystems Announces Pricing of Initial Public Offering

LOWELL, Mass., July 14, 2021 (GLOBE NEWSWIRE) — Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (“Rapid Micro”), an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products, today announced the pricing of its initial public offering of 7,920,000 shares of its Class A common stock at a price to the public of $20.00 per share. All of the shares of Class A common stock are being offered by Rapid Micro. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Rapid Micro, are expected to be $158.4 million, excluding any exercise of the underwriters’ option to purchase additional shares. Rapid Micro’s Class A common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “RPID” on July 15, 2021. The offering is expected to close on July 19, 2021, subject to satisfaction of customary closing conditions. In addition, Rapid Micro has granted the underwriters a 30-day option to purchase up to an additional 1,188,000 shares of Rapid Micro’s Class A common stock at the initial public offering price less the underwriting discounts and commissions.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Cowen and Company, LLC and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers of the offering.

A registration statement on Form S-1 (File No. 333-257431) relating to the offering has been filed with the Securities and Exchange Commission and became effective on July 14, 2021. The offering will be made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204 or email at prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY, 11717, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, telephone: (415) 364-2720 or email at syndprospectus@stifel.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contacts

Media:
media@rapidmicrobio.com

Investors:
investors@rapidmicrobio.com

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Overseas Vietnamese honoured for dedication to HCM City’s development

The People’s Committee of Ho Chi Minh City has decided to bestow the city’s badge to seven overseas Vietnamese in recognition of their considerable contributions to local development.

They consist of Dr Nguyen Dinh Uyen, residing in the US, a lecturer of the electronics and telecommunications faculty at the International University of the Vietnam National University – HCM City; Dr Nguyen Duc Thai, residing in the US, member of the TransMed-Vietnam programme; Prof. Dr Mai Xuan Ly, residing in Poland, head of the life science laboratory at the Institute for Computational Science and Technology of the HCM City Department of Science and Technology; Prof. Dr Nguyen Minh Tho, residing in Belgium, head of the molecular science and nanomaterial laboratory at the Institute for Computational Science and Technology; Peter Hong, residing in Australia, Standing Vice Chairman and Secretary General of the Business Association of Overseas Vietnamese (BAOOV); Danny Vo Thanh Dang, residing in Singapore, Vice Chairman of the BAOOV and CEO of Global Health Assist – Vietnam; and Lam De, head of the liaison board for overseas Vietnamese in the city’s District 8.

The HCM City Commission for Overseas Vietnamese Affairs said on July 14 that the badge presentation demonstrates the municipal Party Committee and authorities’ recognition of and support for the individuals who have greatly helped with local development, as well as national development and defence as a whole.

It noted over the past years, overseas Vietnamese have made substantial contributions to the city, especially via providing development advice, making investment, transferring technology, training high-quality human resources, and building the startup ecosystem.

They have also actively engaged in patriotic emulation movements, social security promotion, along with the ongoing combat against COVID-19, according to the commission./.

Source: Vietnam News Agency

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Banks cut lending rates to support pandemic-hit clients

The Vietnam Bank for Agriculture and Rural Development (Agribank) on July 15 said it will cut lending rates in Vietnam dong for the fifth time.

Accordingly, the bank will reduce interest rates by 10 percent for short-term loans with an annual interest rate of at least 5 percent, and mid-and long-term loans with an interest rate of no less than 7 percent.

The interest rate cut will worth about 5.5 trillion VND (239 million USD).

The programme, to last until December 31, will be rolled out at all 2,300 transaction sites of Agribank in the country.

Besides, Agribank has restructured loans, provided free-of-charge domestic money transfer services, and donated more than 130 billion VND to the COVID-19 combat.

The same day, the Asia Commercial Joint Stock Bank (ACB) announced that the lending rates of its short-term loans will be cut by a maximum 0.8 percentage points and that of mid and long-term loans, by 1 percentage point, to be applied to existing loans.

The bank will adjust the lending rates for both individual and organisation clients between July 15 and October 15.

On July 14, Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) was the first to cut its lending rates following a meeting between the State Bank and credit organisations. It adjusted the annual rates down by 1 percentage point for outstanding loans of businesses and individuals affected by COVID-19, such as those operating in tourism, transportation, catering and lodging services, education and health care.

General Secretary of Vietnam Bankers Association Nguyen Quoc Hung told the Vietnam News Agency (VNA) that more banks are expected to follow suit from now till the end of this year to assist pandemic-hit clients.

At the July 12 meeting between the State Bank and credit organisations, credit institutions reached a consensus on reducing lending rates to support businesses and citizens, with a focus on businesses suffering most from impacts of the COVID-19 pandemic./.

Source: Vietnam News Agency

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Leaders of Vietnam, RoK vow to deepen relations

Vietnamese Party General Secretary Nguyen Phu Trong and President Moon Jae-in of the Republic of Korea (RoK) agreed to deepen relations between political parties, legislatures and young people of the two countries during their talks on the phone on July 15.

The leaders shared the view that the two countries should maintain exchanges and meetings in a flexible manner and expand their substantive cooperation across spheres.

They also agreed that Vietnam and the RoK will step up collaboration in the COVID-19 combat and vaccine supply.

General Secretary Trong said Vietnam will continue with its comprehensive and synchronous Doi Moi (Renewal) for rapid and sustainable development, while consistently pursuing the foreign policy of independence, self-reliance, peace, friendship, cooperation, development, diversification and multilateralisation of foreign relations, active and proactive integration into the world, and being a trustworthy partner, and an active and responsible member of the international community.

Vietnam attaches importance to the relationship with the RoK – which it considers an important, long-term strategic partner, the Party leader said, appreciating the fact that the RoK considers Vietnam a key partner in its New Southern Policy Plus.

He suggested the RoK further support the Vietnamese community in the country and pledged that Vietnam will continue creating favourable conditions for Korean firms to expand their operation in Vietnam.

For his part, Moon expressed his belief that under the leadership of the Communist Party of Vietnam headed by Trong, Vietnam will contain the pandemic well and complete socio-economic development targets set at the 13th National Party Congress.

The RoK will continue to support and closely cooperate with Vietnam in the pandemic fight, he affirmed, noting his hope for stronger bilateral collaboration in economy, diplomacy, security and national defence, so as to soon bring the two-way trade to 100 billion USD and elevate the bilateral ties to a new high.

The two leaders also compared notes on regional and international issues of shared concern./.

Source: Vietnam News Agency

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Geographical survey for La Gan offshore power project to be launched

The Vietnam – Russia joint-venture Vietsovpetro and the La Gan wind power project development JSC signed a contract on July 15 to conduct a geographical survey for the La Gan offshore wind power project off the coast of the south central province of Binh Thuan.

The online signing ceremony was held with the witness of Danish Ambassador to Vietnam Kim H.Christensen.

Speaking at the event, Christensen expressed his belief that the Vietnamese Government and local authorities will soon grant necessary licences and approvals for the project to be implemented as early as possible, contributing to realising the Vietnamese Government’s vision on energy development in a green and sustainable manner.

Since the signing of a Memorandum of Understanding with the provincial People’s Committee in July 2020, the project has made significant progress.

With an estimated capital of 10 billion USD and a designed capacity of 3.5 GW, La Gan is one of the first large-scale offshore wind power projects in Vietnam.

According to the BVG Associates, the project will create over 45,000 full-time equivalent (FTE) jobs, contribute over 4.4 billion USD to the economy during the course of the project.

It is also expected to generate electricity for over 7 million households each year, while reducing the emission of 130 million tonnes of CO2 during the project’s duration.

In December 2020, the Copenhagen Infrastructure Partners (CIP), Asiapetro and Novasia Energy formed a joint venture to develop La Gan offshore wind farm./.

Source: Vietnam News Agency

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PM orders setting up support centres, hotlines to help people amid COVID-19 outbreaks

Prime Minister Pham Minh Chinh has required southern localities to immediately set up support centres and hotlines to provide help to people affected by the COVID-19 pandemic which has been spreading fast recently.

He made the instruction while chairing an online meeting on July 15 between the cabinet and leaders of 27 southern localities on pandemic prevention and control measures.

According to Health Minister Nguyen Thanh Long, in the latest resurgence, COVID-19 outbreaks have hit 58 out of 63 cities and provinces nationwide, due to the highly contagious Delta variant of SARS-CoV-2.

The pandemic has developed complicatedly in a number of southern localities with rising number of infections, he said, noting that in the first weeks of June, about 300 new COVID-19 cases were found each day averagely, but the daily figure has risen to over 2,000 cases in recent days.

In this context, the ministry has sent about 10,000 medical staff and volunteers to Ho Chi Minh City and other southern localities to support the pandemic fight, while issuing guidelines on the reduction of quarantine time and the pilot home quarantine for F1s as well as COVID-19 patient management and treatment, said Long.

He affirmed that goods transportation and social security has been ensured, adding that the Health Ministry is building plans to ensure healthcare service supply in case of 100,000 COVID-19 infections.

The minister predicted that as the pandemic has spread widely with many outbreaks in markets, industrial parks and populous residential areas, in the next few days, HCM City will continue to see high number of new infections before the situation becomes more stable and is put under control when the social distancing period ends.

HCM City’s neighbouring localities and other southern localities are likely to continue recording high number of new COVID-19 cases, he said.

Concluding the meeting, PM Chinh affirmed that the Government is determined to stamp out the pandemic in HCM City and some central and southern localities, with top priority given to caring for people’s health.

The Government leader asked for prompt zoning off and testing to control the pandemic, along with giving treatment for COVID-19 patients to minimise fatalities. He also stressed the need to speed up vaccination and ensure livelihood for people, firmly ensuring security and preventing the disruption of production chains./.

Source: Vietnam News Agency