<div>
  <ul>
    <li>
      <p>
        Climeworks, a Swiss direct air capture (DAC) startup, has signed a 9-year carbon removal agreement with PwC Switzerland, an audit and advisory firm.
      </p>
    </li>
    <li>
      <p>
        PwC Switzerland drives a net-zero strategy by 2030 and relies on two pillars. One initiative involves reducing its scope 1 and 2 carbon emissions by switching to 100% renewable electricity sources and use of public transport. The second approach is supported by PwC Switzerland&rsquo;s partnership announced with Climeworks which involves the removal of carbon emissions through DAC technologies.
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;
    <b>Analyst QuickTake: </b>
    Climeworks announced the launch of 
    <a href="https://sp-edge.com/updates/11439">
      Mammoth
    </a>
    , the world&rsquo;s largest DAC and storage plant, to permanently remove CO2 in June 2022. This facility allows the company to scale up its proprietary DAC technologies. Climeworks added 
    <a href="https://sp-edge.com/updates/12701">
      UBS
    </a>
     to its customer portfolio in August 2022 as its first financial services provider, followed by the company&rsquo;s recent carbon removal agreement with 
    <a href="https://sp-edge.com/updates/11628">
      Microsoft 
    </a>
    in July 2022. Climeworks has also signed 10-year carbon removal agreements with 
    <a href="https://sp-edge.com/updates/8491">
      Rothesay
    </a>
    , 
    <a href="https://sp-edge.com/updates/7460">
      LGT
    </a>
    , 
    <a href="https://sp-edge.com/updates/7248">
      BCG
    </a>
    , and 
    <a href="https://sp-edge.com/updates/7042">
      Swiss Re
    </a>
    .&lt;/ul&gt;
  </p>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://climeworks.com/news/pwc-switzerland-signs-cdr-agreement">
      Press release
    </a>
  </p>
  <p>
  </p>
</div>


Carbon Capture, Utilization & Storage (CCUS)

Climeworks and PwC Switzerland sign 9-year carbon removal agreement

Making meat sustainable over the long term.

Cell-cultured Meat

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 <p>Israeli cultivated meat company, Aleph Farms, has collaborated with AI insights platform BioRaptor to optimize production costs and processes. This initiative involves incorporating advanced AI and machine learning tools into Aleph Farms' R&amp;D division. The tools will enable real-time data collection and analysis to refine processes before major infrastructure investments. This integration is expected to enhance process evaluation, forecasting, and scaling up, leading to cost reductions.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> In January this year, Aleph Farms became the only cultivated meat producer to receive <a href="https:<br>
//sp-edge.com/updates/25648"> approval </a> for a cell-cultured beef product. This partnership comes at a crucial time as the company gears up for its first commercial launch and geographic expansion. In line with its expansion plans, the company recently <a href="https:<br>
//sp-edge.com/updates/26828"> partnered </a> with BBGI and Fermbox Bio to build Thailand's first production plant for cellular agriculture applications.</p>

Aleph Farms partners with BioRaptor to optimize cultivated meat production using AI

A new wave of meat, fish, and poultry alternatives are driving this hyper-growth industry into the mainstream.

Plant-based Meat

<div>
 <p>Canadian startup Save da Sea, which produces plant-based seafood alternatives, has secured CAD 650,000 (~USD 474,932) in seed funding. Investors include Thrive Lab, a new venture of the Business Development Bank of Canada, Spring, What If Ventures, and YSpace from York University.</p>
 <p>This investment will be used to drive the company's push into the US market and to expand its team.</p>
 <p>Established in 2019, Save da Sea's product range includes a carrot-based smoked salmon substitute and tuna salad made from jackfruit. Initially found in 500 Canadian retail stores, the company recently made its debut in the US market.</p>
</div>

Save da Sea raises CAD 650,000 in seed funding to increase US distribution

<div>
 <p>Oshi, an Israeli plant-based seafood company, will showcase the latest iteration of its plant-based salmon fillet at the impending National Restaurant Association (NRA) Show in Chicago. The company has managed to gain nationwide distribution in the US for this vegetarian salmon substitute via several restaurant supply firms.</p>
 <p>Oshi's plant-based salmon fillet uses a patented module layering technology that replicates the muscle tissue's fibrous structure. This product launch represents a considerable milestone in the firm's US growth, commenced in mid-2023.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> After the company rebranded, it announced its US expansion plans in <a href="https:<br>
//sp-edge.com/updates/19305"> June 2023 </a> and collaborated with chefs and restaurants to optimize its offerings. It launched its first products for the US market in <a href="https:<br>
//sp-edge.com/updates/23174"> October 2023 </a> at the New York City-based vegan Italian restaurant Coletta.</p>

Oshi to unveil updated plant-based salmon fillet at NRA Show in Chicago

Building future-ready applications in the cloud

Cloud-native Tech

<div>
 
 <p>Investment company EQT has acquired WSO2, a firm known for its API management and identity and access management services. The deal, which valued WSO2 at over USD 600 million, sees EQT obtaining a majority stake and is set to conclude in the second half of 2024.</p>
 <p>WSO2's product offerings include an open-source API manager that aids in the construction and integration of digital services, whether cloud-based or on-site. Additionally, it provides API management for Kubernetes and a prominent Identity Server utilized by businesses for managing identity and access functionalities in their applications.</p>
 <p>EQT aims to take advantage of WSO2's global customer base and strong security infrastructure, underpinned by cloud computing and AI, after the acquisition. EQT maintains that WSO2 is in a prime position to benefit from enduring trends like digital transformation and the increase in GenAI adoption.</p>
 
</div>

EQT acquires API and identity management software company WSO2

Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

<div>
 <p>At the RSA Conference 2024, Panorays plans to unveil its newest creative development comprised of advanced capabilities aimed at aiding corporations with their supply chain and third-party relationships management. This initiative is marked by the incorporation of Artificial Intelligence (AI) technology into its platform.</p>
 <p>The enhancements brought about by AI integration include AI supplier identification, comprehensive mapping of third parties centered around relative risks and significant considerations and the provision of AI questionnaire templates for transparent governance. Moreover, the platform will also be capable of identifying potential dangers tied to the use of privileged AI models, thereby ensuring a secure and responsible co-opting of AI technologies.</p>
 <p>Through these upgraded features, this firm seeks to exploit AI technology strategically for anticipatory threat intelligence. This initiative is also intended to mitigate the likelihood of supply chain cyber attacks and simplify third-party cyber risk management procedures. This is achievable by promoting responsible and confidential AI usage in third-party cyber risk management.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The increase of digitalization in organizations has led to increased cyber security threats across supply chains. Startups focusing on third-party risk management have introduced new solutions to combat these threats. In January 2024, SecurityScorecard <a href="https:<br>
//sp-edge.com/updates/25973"> launched </a> a new managed service named "SecurityScorecard MAX," which aims to help organizations effectively identify, prioritize, and address vulnerabilities throughout their third-party and extended supply chain ecosystem.</p>

Panorays unveils AI-driven platform for third-party cyber risk management

Bringing the benefits of blockchain to the enterprise

Enterprise Blockchain Solutions

INCUMBENTS_PRESENT

<div>
 <p>Vodafone has declared its intention to implement SIM card technology for enabling cryptocurrency transactions on mobile devices.</p>
 <p>They aim to utilize the inherent cryptographic functions present in SIM cards for the integration with blockchain.</p> 
</div>

Vodafone to use SIM cards for crypto transactions on mobile phones

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 <p>Luminar Technologies, a producer of Light Detection and Ranging (LiDAR) sensors, has announced it will lay off approximately 140 employees, equating to 20% of its current workforce. This decision is part of a wider restructuring plan intended to establish an 'asset-light' business model and increase production. The bulk of those facing layoffs are contract workers.</p>
 <p>The restructure is designed to create a more streamlined business, with plans to trim annual costs by between $50 million and $65 million and allow for faster product launches.</p>
 <p>While it is planning to lower its physical footprint by sub-leasing some facilities, Luminar will continue to maintain its Florida facility as a hub for Research and Development. The company also plans to deepen its ties with Taiwanese manufacturer, TPK Holding.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Even though autonomous vehicles and ADAS are considered promising areas of growth for LiDAR, since these technologies are still in the development stages, they may not generate much revenue for LiDAR companies in the near term. Luminar, along with peer LiDAR companies such as <a href="https:<br>
//sp-edge.com/updates/26155"> Innoviz Technologies </a> and <a href="https:<br>
//sp-edge.com/updates/19625"> Ouster </a> , also cut their workforces to restructure operations for a better financial position.</p>

Luminar Technologies lays off 20% in restructuring for profitability; to sub-lease facilities

<div>
 <p>Alphabet's self-driving tech unit, Waymo, plans to trial driverless robotaxis in San Francisco, California. Starting with a pilot program for employees, the testing will take place along the Peninsula. </p>
 <p>Initially, the service extends from San Francisco to the San Mateo and Burlingame border, but is restricted to surface roads, excluding highways.</p>
 <p>Waymo intends to expand the service to Sunnyvale in the future.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Waymo's Peninsula pilot was foreseeable, with the California Public Utilities Commission (CPUC) approving service expansion beyond San Francisco <a href="https:<br>
//sp-edge.com/updates/27179"> in March 2024 </a> . The company has also initiated driverless rides for employees in <a href="https:<br>
//sp-edge.com/updates/27272"> Austin, </a> with plans to offer services to the public later. <a href="https:<br>
//sp-edge.com/updates/28523"> Last month, </a> Waymo also initiated tests in Atlanta, Georgia, with plans to introduce its robotaxi services eventually. Waymo has a history of more cautious expansion but has also faced issues such as <a href="https:<br>
//sp-edge.com/updates/26569"> software recalls </a> and <a href="https:<br>
//sp-edge.com/updates/26435"> accidents </a> involving its vehicles.</p>

Waymo to deploy driverless robotaxis in Peninsula, San Francisco

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

<div>

 <p>Checkout.com, a UK-based payment infrastructure provider, has forged a partnership with Mastercard to improve virtual cards for B2B payments in travel businesses including online travel agents. This partnership will let Checkout.com's travel sector users access the Mastercard Wholesale Program. Furthermore, they can utilise Mastercard's virtual card technology and pricing model. This will lead to decreased transaction costs and increased conversion rates.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> Checkout.com expanded its embedded finance offering by launching a <a href="https:<br>
//sp-edge.com/updates/17243"> card issuing infrastructure </a> (physical, virtual, and on-off cards) in March last year. Today’s partnership with Mastercard focuses on building on the card issuing offering within the travel sector while enhancing payment processing capabilities and efficiency.</p>

Checkout.com collaborates with Mastercard to enhance virtual cards for travel sector

Biometric Payments

<div>
 
 <p>OVE, a provider of biometric payment services, is collaborating with Fingerprint Cards (FPC) to develop a prototype titled "Touch and Go." This is a fingerprint sensor designed for biometric payments in retail settings.</p>
 <p>Thanks to the partnership, the payment solution can make use of FPC's technology for facilitating mobile payments across many venues such as bars, restaurants, supermarkets, and gas stations. The solution can safely store millions of fingerprint hashes in the cloud while connecting multiple account types for payments to single fingerprints. This system integrates with retailers' point-of-sale systems using Wi-Fi.</p>
 <p>In a bid to aid its commercialisation, OVE is currently running a seed funding round which is predicted to wrap up by the close of 2024.</p>
 <p>The OVE Touch and Go service combines identity and payment services, capitalising on biometric technology to ensure secure, convenient transactions. The service enables users to connect multiple payment methods, like credit cards and bank accounts, to each individual fingerprint.&nbsp;</p>
 
</div>

All Updates