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  </p>
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      <p>
        Form Energy, a long-term energy storage startup, has been awarded a grant of USD 30 million from the California Energy Commission (CEC) to strengthen renewable energy storage efforts in the state.
      </p>
    </li>
    <li>
      <p>
        Form Energy aims to use the grant in the development and operation of its first project in California, a 5 MW/500 MWh multi-day energy storage system. The system, expected to be functional by 2025, will be based in Mendocino County at a Pacific Gas and Electric Company (PG&amp;E) electric substation.
      </p>
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      <p>
        This initiative comes amidst California&rsquo;s increased focus on renewable energy and zero-carbon infrastructure, with legislative targets to achieve 60% renewable energy by 2030 and 100% by 2045.&nbsp;
      </p>
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  </ul>
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  </p>
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  <p>
    <a href="https://formenergy.com/form-energy-awarded-30m-grant-from-the-california-energy-commission-to-deploy-first-multi-day-energy-storage-project-in-california/">
      Press release
    </a>
  </p>
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  </p>
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Alternative Energy

<div>
<p>Energy storage startup, Form Energy, has received a $30 million grant from the California Energy Commission to boost renewable energy storage in California. The funds will be used towards the development of their first project in the state, a 5 MW/500 MWh multi-day energy storage system. The system, planned to be operational by 2025, will be situated in Mendocino County at a Pacific Gas and Electric Company substation. This furthers California's focus on renewable energy aiming for 60% renewable energy by 2030 and 100% by 2045.</p>
</div>

Form Energy raises USD 30 million in grant funding

Using online platforms, autonomy, electric and fuel-cell tech solutions to shape the future of trucking.

Truck Industry Tech

PROMINENT_CATEGORY

<div>
 <p>Computer vision startup, Trigo from Israel, has collaborated with REWE Group, a German retail chain, to launch a computer vision-aided, hybrid autonomous store in Düsseldorf, Germany, called “REWE Pick&amp;Go.”</p>
 <p>The store provides four modes of checkout for customers: 1) cashierless payments through mobile app; 2) manual scanning of purchases at a self-checkout terminal; 3) traditional cashier payments; and 4) computer vision-enhanced self-checkout terminals that keep track of items selected and preserve a virtual shopping cart of items picked up by customers, thus avoiding the need for manual scanning of items.&nbsp;</p>
 <p>REWE Group is not new to computer vision-powered checkout options and has implemented this at a location in Berlin. The company has plans to introduce a Pick&amp;Go store in Munich and also envisages the integration of the virtual shopping cart technology with its "Pick&amp;Go" mobile checkout solution for expedited mobile-based checkouts.</p>
 
</div>

Trigo partners with REWE Group to deploy computer vision-based shopping at self-checkout terminals

Empowering sustainable food innovation through food engineering tech

Novel Foods

ANALYST_QUICK_TAKE

<div>
 <p>The Singapore Food Agency and the Ministry of Sustainability and the Environment have drafted a proposed bill called the Food Safety and Security Bill (FSSB). The FSSB aims to create a new "Defined Food" category and specifies additional requirements for the pre-market approval of these foods.</p>
 <p>Under the FSSB, novel foods - such as genetically modified (GM) foods and insect-like species - would be considered a sub-category of Defined Foods. These foods would need to meet extra criteria and comply with additional requirements for pre-market approval.</p>
 <p>The FSSB also plans to enhance the current novel food application process in Singapore for cultivated meats, fermentation-based proteins, and insect-derived proteins. The inclusion of GM foods in the Defined Foods category is intended to streamline the approval process, which currently requires consultation with Singapore’s Genetic Modification Advisory Committee.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Singapore is a leading hub for alternative food products and was the first country in the world to approve the sale of cultivated meats. Further, fermentation-based products like Solar Foods’ <a href="https:<br>
//sp-edge.com/updates/14058"> Solein protein </a> and The Protein Brewery’s <a href="https:<br>
//sp-edge.com/updates/27912"> Fermotein </a> ingredient have also been approved for commercial use. If passed, this bill would impose more stringent conditions on producers hoping to gain approval for their novel and alternative food products in Singapore.</p>

Singapore Food Agency proposes change to novel foods approval process

<div>
 <p>Voyage Foods, a Food Tech firm specializing in free-from foods and beverages, has secured USD 52 million in a funding round. This funding round was co-led by Level One Fund and Horizons Ventures, with participation from SOSV, Collaborative Fund, and Nimble Partners.</p>
 <p>The raised funds are planned to be used to boost the company's production scale and bolster its immediate eco-friendly influence in the Food Tech industry.</p>
 </div> <p><b>Analyst QuickTake:<br>
 </b> Voyage Foods develops free-from versions of popular food items that exclude the top nine allergens and has launched products like peanut-free and hazelnut-free spreads. Recently, the company <a href="https:<br>
//sp-edge.com/updates/28292"> partnered </a> with Cargill to develop sustainable alternatives to cocoa-based products and nut spreads, marking its largest collaboration to date.</p>

Voyage Foods raises USD 52 million in funding to scale production

Metaverse Experience Platforms

<div>
 <p>An Ireland-based social metaverse platform, Jamango, has obtained USD 2.5 million in pre-seed funding. The round was co-led by Elkstone Partners and Delta Partners, with additional support from investors including Brian Caulfield, Brendan O’Driscoll, and Conor Sheahan.</p>
 <p>These funds are set to expedite the development of Jamango’s platform, with a planned launch later this year. The funding will also enable expansion of the team.</p>
 <p>Jamango operates as a browser-based game creation platform. It provides block-based building tools and a no-code editor, enabling users to design their own games. The team comprises members with prior experience working on popular game titles like Star Wars Battlefront, FIFA, and The Sims.</p>
</div>

Jamango raises USD 2.5 million in pre-seed funding to launch platform later this year

Technologies bringing about a new reality

Extended Reality

<div>
 <p>Ultraleap, a haptics manufacturer, has announced the next version of its hand-tracking software - "UltraLeap Hyperion." This new software is a successor to its previous Gemini software and will be available for Leap Motion 2 controller users along with a commercial use license.</p>
 <p>UltraLeap Hyperion boasts several key features including micro gesture interactions, enhanced tracking while holding objects, object tracking using the Leap Motion Controller 2 camera, performance switchable modes, and extended tracking capabilities. These advancements allow the software to perform additional computer vision tasks.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The software update follows the company’s announcement of the Leap Motion Controller 2 in <a href="https:<br>
//sp-edge.com/updates/18981"> May 2023 </a> , priced at USD 139. The new controller improves camera resolution, widens the field-of-view (FOV), and reduces power consumption by 25% compared to its predecessor. Further, the company noted that it had sold over 1 million Leap Motion trackers to date, with 350,000 developers building apps and experiences using the company's hand-tracking technology.</p>

Ultraleap launches new hand-tracking software Hyperion, replacing Gemini

<div>
 <p>Sandbox VR, a company specializing in location-based XR experiences, has formed a partnership with the Apparel Group, a UAE-based fashion and lifestyle company. The objective of this collaboration is to open 25 new location-based experiences throughout the Middle East by the year 2028.</p>
 
 <p>This partnership positions as a major franchise agreement with the Apparel Group, which currently manages more than 2,200 stores in 14 countries within the Middle East and Asia. The decision to expand locations was influenced by the positive feedback on the experiences that were introduced in the US, Europe, and Asia.</p>
 </div> <p><b>Analyst QuickTake:<br>
</b> Sandbox VR currently operates in over 46 global locations, with notable collaborations including Zack Synder’s Rebel Moon to launch an experience based on the movie ( <a href="https:<br>
//sp-edge.com/updates/28677"> April 2024 </a> ) and Netflix to create a themed experience based on the TV series "Squid Game" ( <a href="https:<br>
//sp-edge.com/updates/16264"> February 2023 </a> ). Notably, the Squid Game-themed experience recorded over USD 4.5 million in ticket sales within the first two months of its launch.</p>

Sandbox VR partners with Apparel Group to launch 25 new experiences in the Middle East by 2028

<div>
 <p>Stanford's Computational Imaging Lab researchers are working on AI-assisted holographic imaging technology. This prototype technology aims to be lighter, thinner, and superior in quality than existing AR glasses technologies.</p>
 <p>The technology uses "nanophotonic metasurface waveguides" and a "learned physical waveguide model" to direct light into the user's eyes via glasses. Additionally, it leverages AI algorithms to significantly improve the image quality. The model configures itself automatically using camera feedback, which allows images to appear at different depths.</p>
 <p>The research team asserts that the compactness of this technology is embedded into a thin layer of holographic components, enabling it to be incorporated into standard glasses frames. Their goal is to penetrate the spatial computing market, which is presently dominated by large mixed reality headsets.</p>
 
</div>

Stanford University announces work on developing AI-assisted holographic imaging for AR glasses

Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

<div>
 <p>Grydd, an AI-driven supply chain and logistics software company, revealed updates to its product suite designed to transform global goods transportation. The enhancements feature a range of new AI applications for various areas including demand planning, route prediction, data quality monitoring, cargo optimization, sustainability, and team collaboration. The tools offer capabilities like predicting demand from historical data, recommending cost-effective routes, AI-aided data monitoring, maximizing transport capacity, and promoting sustainable, low-emission routes. These features are all combined into a single collaborative platform.&nbsp;</p>
 <p>Grydd asserts that the revamped software suite will boost supply chain visibility, control, and sustainability. It further posits that globally, businesses can advance their supply chain planning and operations through the use of these AI-powered tools.&nbsp;</p>
 <p>A specialist in AI-powered software solutions for the logistics and supply chain sectors, Grydd offers services including real-time cargo tracking, automated paperwork, digital booking systems, and inventory management tools. These offerings overall improve decision-making and operational efficiency for its clients.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Many startups in the Supply Chain Tech space are leveraging AI to enhance their product offerings. Recently companies like <a href="https:<br>
//sp-edge.com/updates/29158"> ketteQ </a> , <a href="https:<br>
//sp-edge.com/updates/29071"> ThroughPut Inc </a> ., and <a href="https:<br>
//sp-edge.com/updates/28850"> Retraced </a> have introduced new AI-powered solutions to support supply chain operations. In addition, incumbents in the space like <a href="https:<br>
//sp-edge.com/updates/28695"> SAP </a> and <a href="https:<br>
//sp-edge.com/updates/28527"> Logility </a> are also actively integrating AI into their offerings.</p>

Grydd unveils advanced suite of AI applications for supply chain management

<div>
 <p>Sensors and Pairpoint, a subsidiary of Vodafone, are collaborating to combat the rising issue of supply chain fraud. The partnership will provide a secure platform for businesses to track their products throughout the supply chain using Sensos' tracking labels and AI-control center and Pairpoint's secure digital platform. This system will help detect irregularities and document product movement.</p>
 <p>The incorporation of blockchain technology will boost security and trust, therefore minimizing fraudulent activities in supply chain transactions. Presently, this joint solution is undergoing trials in several locations in the US and Europe along with global logistics operator Unilog.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Sensos has been actively pursuing go-to-market efforts; in February 2024, it <a href="https:<br>
//sp-edge.com/updates/26443"> raised </a> funding for this purpose. Product partnerships with global leaders will also complement these efforts.</p>

Sensos and Pairpoint partner to combat global supply chain fraud with secure solutions

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 <p>AEye, a LiDAR manufacturer, has joined forces with LITEON Technology Corporation to produce and provide AEye's 4Sight-based LiDAR products to automotive Original Equipment Manufacturers (OEMs) via an industrialization partnership.</p>
 <p>This partnership is set out to cater to the needs of OEMs who emphasize on safety by offering competitive long-distance LiDAR solutions through advanced driver assistance systems (ADAS).</p>
</div>

All Updates