<div>
  <ul>
    <li>
      <p>
        Eavor, a Canadian geothermal energy startup, has completed an equity funding round, which raised USD 182 million. The funding was led by OMV AG, with participation from Canada Growth Fund, Japan Energy Fund, Monaco Asset Management, and Microsoft's Climate Innovation Fund.
      </p>
    </li>
    <li>
      <p>
        The company intends to use the funds to advance the development and deployment of its geothermal technology.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         Eavor initially raised EUR 34 million (~USD 37 million) in 
        <a href="https://sp-edge.com/updates/19418">
          June 2023
        </a>
         from the first close of its Series B equity round. During this, OMV AG and Eavor also entered a commercial agreement to pursue large-scale deployment of Eavor-Loop technology in Europe and other nations. OMV will begin with the deployment of Eavor-Loop in Austria, Romania, and Germany.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.eavor.com/press-releases/capital-raise-of-182-million-confirms-eavor-as-the-leader-in-scalable-geothermal/">
      Press release
    </a>
  </p>
  <p>
  </p>
</div>


Alternative Energy

ANALYST_QUICK_TAKE

DISRUPTOR_PRESENT

INCUMBENTS_PRESENT

The Canadian geothermal energy startup, Eavor, has successfully raised USD 182 million in an equity funding round. The funding round was led by OMV AG and saw participation from Canada Growth Fund, Japan Energy Fund, Monaco Asset Management, and Microsoft's Climate Innovation Fund. Eavor plans to utilize the raised funds to further enhance the development and implementation of its geothermal technology. <p><b>Analyst QuickTake:</b> Eavor initially raised EUR 34 million (~USD 37 million) in <a href="https://sp-edge.com/updates/19418"> June 2023 </a> from the first close of its Series B equity round. During this, OMV AG and Eavor also entered a commercial agreement to pursue large-scale deployment of Eavor-Loop technology in Europe and other nations. OMV will begin with the deployment of Eavor-Loop in Austria, Romania, and Germany.</p>

Eavor raises USD 182 million in equity funding

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

PROMINENT_CATEGORY

<div>
 <p>Tesla has updated its "Schedule a Drive" page, enabling potential customers to book test drives for the Model Y, Model 3, Model S, Model X, and Cybertruck. The main focus is on testing the Full Self-Driving (FSD) capability.</p>
 <p>Customers during the test drive can experience the FSD (Supervised) where the car navigates turns and intersections automatically. A Tesla Advisor can set up this feature and join customers during the ride if needed. The newly updated page also provides an option to book the earliest available test drive slots at nearby locations.</p>
 <p>The company believes that the updated page will help increase awareness about the FSD's capabilities among potential customers.</p>
</div>

Tesla updates test drive page with focus on Full Self-Driving

Empowering sustainable food innovation through food engineering tech

Alternative Ingredients

<div>
 <p>MeliBio, a company that creates bee-free honey, has been granted a utility model registration for their "Plant-Based Honey Composition" by the German Patent and Trademark Office (DPMA). This registration protects their method of making honey using only plant-based ingredients.</p>
 <p>This utility model registration in Germany is seen to aid in the expansion and establishment of MeliBio in the EU market. This could be driven by the increasing consumer demand for products derived from plants.</p>
 <p>In addition to this, MeliBio is working on a <a href="https://sp-edge.com/updates/27777">precision fermentation</a> platform. The goal of this platform is to improve honey replication and diversify their product range. This includes the production of bee proteins and enzymes aimed at the ingredients market.</p> 
</div> <p><b>Analyst </b> <b>QuickTake:<br>
 </b> This utility model registration furthers MeliBio's efforts to offer its bee-free honey products in Europe. In <a href="https:<br>
//sp-edge.com/updates/25314"> January 2024 </a> , the company partnered with organic food producer Narayan Foods to initially launch its bee-free honey in Austria and Switzerland and expand to other European countries. MeliBio also partnered with fast food chain Neat in <a href="https:<br>
//sp-edge.com/updates/31595"> July 2024 </a> to release a menu dish made with its vegan hot honey, Mellody Spicy Habanero.</p>

MeliBio secures utility model registration for plant-based honey in Germany

Technologies bringing about a new reality

Extended Reality

<div>
 <p>HTC has introduced their new mixed reality headset, the Vive Focus Vision. Priced at USD 999, it offers both standalone and PC-tethered capabilities. It is currently available for pre-order and is set to begin shipping in mid-October.</p>
 <p>Equipped with Qualcomm’s latest Snapdragon XR2 chip, the Vive Focus Vision offers an impressive 2448 x 2448 per-eye resolution. Other notable features include built-in eye tracking, dual 16-megapixel cameras providing full-color passthrough, and a 120-degree field of view (FOV). It also supports up to 120Hz refresh rate and a DisplayPort mode for PCVR experiences without loss of visual quality.</p>
 <p>Other design details include an auto-IPD adjustment system, an upgraded cooling system and a battery life of two hours. It also includes a sub-battery providing 20 extra minutes of runtime. The Vive Focus Vision, which comes with Quest 2-style controllers, is designed for both consumer and enterprise market sectors.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The Vive Focus Vision departs from previous headsets in the series, which had a heavy enterprise focus. On the other hand, its price point may dissuade gamers from purchasing it in favor of the Quest 3, which retails at USD 499. The Vive Focus Vision is also the company's second mixed reality headset, following the launch of the HTC Vive XR Elite (USD 1,100, announced in <a href="https:<br>
//sp-edge.com/updates/15532"> January 2023 </a> ).&nbsp;&nbsp;</p>

HTC launches Vive Focus Vision mixed reality headset at USD 999

The toolkit to build machine learning applications at scale

Machine Learning Infrastructure

<div>
 <p>A partnership, the Global AI Infrastructure Investment Partnership (GAIIP), has been formed between Microsoft, BlackRock, Global Infrastructure Partners, and MGX to fund investments in data centers and related infrastructure. </p>
 <p>The GAIIP aims to leverage USD 30 billion in private equity capital to finance new and expanded data centers, focusing mainly on the US and partner countries. The aim is to meet the increasing demand for computing power and develop new energy sources for these facilities.</p>
 <p>Supported by NVIDIA, the partnership addresses the rising energy demands of AI services and data centers. It plans to improve AI supply chains and energy sourcing for the data center industry, promoting sustainable growth and innovation in the AI technology field.</p>
</div>

Microsoft and BlackRock partner to launch USD 30 billion AI data center investment fund

A decentralized version of the web powered by the blockchain

Web3 Ecosystem

<div>
 
 <p>Limitless Labs, a company that deals with a prediction market platform, successfully raised a total of USD 3 million during a pre-seed funding round. The said round was spearheaded by 1confirmation and also attracted participation from other parties which include Paper Ventures, Collider, and Public Works.</p>
 <p>The newly obtained funding will serve the purpose of advancing the development of its prediction market platform. This platform is constructed on Base, a blockchain network that falls under the category of layer-2 and was brought to life by Coinbase.</p>
 <p>Limitless Labs majorly concentrates on markets that expire quickly, with the main focus being put on stock and cryptocurrency prices which are considered at the closure of each trading day. Boasting over USD 200,000 daily transactions on its platform, the company doesn't fall short on user retention. As a testament to this, they claim that a good 38% of their users prolong their stay and return after the seventh day.</p>
 
</div>

Limitless Labs raises USD 3 million in pre-seed funding to develop prediction market

<div>

 <p>Google Cloud has launched the Blockchain RPC (Remote Procedure Call) service for Web3 developers globally. The service is currently in its preview phase and provides a free tier that accommodates up to 100 requests per second and 1 million requests per day.</p>
 <p>The service ensures enterprise-grade reliability by using Google Cloud's infrastructure for security and reliability. It is fully compliant with the Ethereum JSON-RPC standard and supports the Ethereum mainnet and testnets. The service has plans to include more chains in the coming year.</p>
 <p>Google Cloud highlights that its Blockchain RPC service is cost-effective, compatible with existing RPC providers, and scalable to manage increasing request volumes.</p>
  
</div>

Google Cloud launches Blockchain RPC service for Web3 developers

<div>
 <p>Kore.ai, a company offering AI platform technology has launched GALE (GenAI and LLM Platform for Enterprises). GALE aims to assist enterprises in the creation and implementation of advanced GenAI applications to improve productivity and stimulate innovation.</p>
 <p>GALE comes with a no-code toolset and interactive interface for swift development and release of AI applications. Some of its significant features include a Model Hub with 30+ AI models, AI Agents for task automation, and a Prompt Studio for creating prompts. Additionally, the platform includes ready-to-use templates and integrations for various enterprise applications. </p>
 <p>Kore.ai suggests that GALE can decrease development time by up to 50% and allows for quick prototyping. The platform is compatible with LLM models, cloud infrastructure, and applications, providing flexibility in AI deployment and addressing the challenges companies face in adopting GenAI. </p>
 <p><b>Analysts QuickTake: </b> GALE, Kore.ai's new product, is viewed as a significant expansion of its offerings. It facilitates the creation of AI agents via a no-code interface. GALE offers compliant nodes, model protections, and advanced debugging tools for enhanced control and usability. </p>
 
</div>

Kore.ai launches GALE platform for enterprise GenAI adoption

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

<div>
 <p>Kore.ai, an enterprise AI technology provider, has launched a new platform, GALE (GenAI and LLM Platform for Enterprises). GALE's intended role is to aid businesses in creating advanced GenAI applications, improving both productivity and innovation.</p>
 <p>The platform features a no-code toolkit and an intuitive visual interface, facilitating swift AI application development and deployment. It boasts a Model Hub with more than 30 AI models, AI Agents for task automation, as well as a Prompt Studio for creating prompts. It also provides pre-made templates and ready-made integrations for a range of enterprise-related uses.</p>
 <p>GALE, according to Kore.ai, can cut down development time by as much as 50% and fast-track prototyping. It's designed to be versatile with regards to a variety of components, including LLM models, cloud infrastructure, and applications. This versatility fosters easier AI deployment and tackles the obstacles organizations encounter when trying to adopt GenAI.</p>
 <p><b>Analysts QuickTake: </b> The introduction of GALE signifies a major addition to Kore.ai's products. It provides a user-friendly method to create AI agents via a no-code interface. Furthermore, GALE offers flexible nodes, model safeguards, and sophisticated debugging tools for improved control and ease of use.&nbsp;</p>
</div>

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

<div>
 <p>Swiss direct air capture company, Climeworks, has joined forces with non-profit organization, Terraset. This collaboration aims to leverage philanthropic capital for carbon removal. The partnership will permit donors, from the US, Canada, and the UK, a tax deduction for their contributions, supporting Climeworks' carbon removal mission while tapping into the global philanthropic market. </p>
</div> <p><b>Analyst QuickTake:<br>
</b> This collaboration addresses the current gap in climate-focused philanthropy, as less than 0.04% of global philanthropic funds are directed to carbon removal efforts. The partnership offers a new way for individuals to help scale carbon removal technologies and support climate action.</p>

Climeworks partners with Terraset to enable philanthropic support for carbon removal

<div>
 <p>Carbon capture, utilization, and storage (CCUS) technology developer, 8 Rivers, has received a funding investment from JX Nippon Oil &amp; Gas Exploration Corporation (JX). The funds aim to aid the commercialization of 8 Rivers' calcite Direct Air Capture (DAC) technology, although the funding amount was not revealed.</p>
 <p>The investment will boost the development of 8 Rivers' calcite DAC technology from pilot stage to commercial project phase. This includes Project Cardinal's first commercial installation in the US Gulf Coast, set to begin Front-End Engineering Design (FEED) in 2025. Additionally, the financial input will assist in minimizing technology risks at the Calcite pilot project, located in Mobile, Alabama.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This investment marks JX’s first move into the growing DAC space and builds on the two companies’ previously signed agreement in November 2021 to identify and develop carbon capture solutions. In <a href="https:<br>
//sp-edge.com/updates/14483"> November 2022 </a> , the two companies also entered an MoU to evaluate the US Gulf Coast for commercially deploying sustainable infrastructure to produce clean energy.</p>

All Updates

Eavor raises USD 182 million in equity funding

Tesla updates test drive page with focus on Full Self-Driving

MeliBio secures utility model registration for plant-based honey in Germany

HTC launches Vive Focus Vision mixed reality headset at USD 999

Microsoft and BlackRock partner to launch USD 30 billion AI data center investment fund

Limitless Labs raises USD 3 million in pre-seed funding to develop prediction market

Google Cloud launches Blockchain RPC service for Web3 developers

Kore.ai launches GALE platform for enterprise GenAI adoption

Kore.ai launches GALE platform for enterprise GenAI adoption

Climeworks partners with Terraset to enable philanthropic support for carbon removal

8 Rivers secures investment from JX Nippon to commercialize DAC technology

Alternative Energy

Eavor raises USD 182 million in equity funding

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