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      <p>
        Biotech company Phytolon and Ginkgo Bioworks, a leading platform for cell programming and biosecurity, have announced the completion of the first phase of their joint project that focuses on producing natural food colors.
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      <p>
        The betalain pigments are produced through fermentation processes using specially engineered yeast strains. These cover an extensive color range from yellow to purple, reds, pinks, and oranges, and offer a sustainable and affordable alternative to synthetic dyes in the food industry.&nbsp;
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      <p>
        <b>Analyst QuickTake: </b>
        The Phytolon and Ginkgo Bioworks partnership was formed in 2022 to leverage Ginkgo's biological engineering capabilities for yeast fermentation-based food color production. With California 
        <a href="https://edition.cnn.com/2023/10/09/health/california-governor-bans-red-dye-no-3-wellness/index.html">
          banning
        </a>
         Red dye no. 3 and increasing scrutiny around synthetic food colorants, this partnership has the potential and opportunity to provide natural solutions to the global food industry.
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  <p>
    <a href="https://www.prnewswire.com/news-releases/phytolon-and-ginkgo-bioworks-successfully-achieve-first-milestone-to-produce-vibrant-natural-food-colors-via-two-producing-strains-302048529.html">
      Press release
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Novel Foods

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

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<p>Phytolon and Ginkgo Bioworks, a biotech firm and biosecurity platform respectively, have completed the initial phase of their joint project targeting the production of natural food colors. The project utilises engineered yeast strains to create betalain pigments through fermentation, which can produce colors from yellow to purple, reds, pinks, and oranges. This process provides a sustainable, cost-effective alternative to artificial food dyes.</p>

</div> <p><b>Analyst QuickTake: </b> The Phytolon and Ginkgo Bioworks partnership was formed in 2022 to leverage Ginkgo's biological engineering capabilities for yeast fermentation-based food color production. With California <a href="https://edition.cnn.com/2023/10/09/health/california-governor-bans-red-dye-no-3-wellness/index.html"> banning </a> Red dye no. 3 and increasing scrutiny around synthetic food colorants, this partnership has the potential and opportunity to provide natural solutions to the global food industry.</p>

Phytolon and Ginkgo Bioworks complete first milestone for natural food colors

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

Truck Industry Tech

INCUMBENTS_PRESENT

<div>
 <p>Volvo, in collaboration with Aurora Innovation, has introduced its production-ready self-driving Class 8 semi-truck. The autonomous vehicle is based on the VNL model from Volvo and utilizes advanced cameras and sensors to power Aurora's Level 4 autonomous driving system. This technology doesn't require a driver and will be a foundation for upcoming autonomous vehicles in Volvo's range.</p>
 <p>The two companies have conducted considerable testing on public roads, and their aim is to significantly increase the rollout of these self-driving vehicles in the next decade.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Volvo first partnered with Aurora in <a href="https:<br>
//www.volvogroup.com/en/news-and-media/news/2021/mar/news-3932948.html"> March 2021 </a> to jointly develop autonomous trucking solutions at scale for applications in North America. It unveiled a prototype version of the truck in <a href="https:<br>
//www.volvogroup.com/en/news-and-media/news/2021/sep/news-4075850.html"> September 2021. </a></p>

Volvo and Aurora reveal first production-ready autonomous truck for long-haul transportation

Quantum information processing is slowly becoming a reality, ushering in a new technological era.

Quantum Computing

<div>

 <p>French quantum hardware startup Pasqal has entered a partnership with Aramco to set up and manage Saudi Arabia's first quantum computer. The specifics, including financial details of the agreement, have not been publicly disclosed.</p>
 <p>Under this agreement, Pasqal will deploy a 200-qubit quantum computer by the latter half of 2025. The initial setup will utilize "analog mode" technology, which will be later upgraded to "analog-digital mode" for enhanced problem-solving. Both firms aim to explore new applications for quantum computing and aspire to establish a quantum research center in Saudi Arabia.</p>
 <p>Prior to this, in <a href="https://sp-edge.com/updates/9029"> March 2022 </a>, Pasqal and Aramco had collaborated to develop quantum-enhanced solutions specifically for the energy sector and to grow Saudi Arabia’s quantum ecosystem.</p>
 
</div>

Pasqal collaborates with Aramco to install first quantum computer in Saudi Arabia

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

<div>
 <p>Virtual healthcare company Teladoc Health is being sued in a prospective class action lawsuit. The lawsuit alleges that the company provided misleading information and did not disclose increased marketing spending for its mental health service, BetterHelp. The lawsuit was filed after Teladoc's CEO, Jason Gorevic, <a href="https://sp-edge.com/updates/28268">resigned</a> in April following a 22% drop in the company's stock price. The drop was due to underperformance in the fourth-quarter earnings and a reduced revenue forecast for 2024.</p>
 <p>Despite the company admitting that increased marketing spending was not efficient, it is alleged that they increased their advertising budget for BetterHelp throughout 2023.</p>
 <p>The lawsuit also claims that the company's CFO, Mala Murthy, and Gorevic made overly positive public statements about the growth of BetterHelp's membership. According to the lawsuit, the membership count remained stagnant or even decreased last year.</p>
</div> <p><b>Analyst Quicktake:<br>
 </b> This marks the second time a class action lawsuit has been filed against Teladoc Health in recent history. In <a href="https:<br>
//sp-edge.com/updates/10940"> June 2022 </a> , similar accusations were made against the company, allegedly misleading investors. The lawsuit, which was eventually dismissed in <a href="https:<br>
//sp-edge.com/updates/19974"> July 2023 </a> , similarly named Jason Gorevic and Mala Murthy as defendants and alleged that they had misled shareholders about the challenges Teladoc Health would face after its merger with Livongo in 2020.</p>

Second class action lawsuit filed against Teladoc for alleged misleading statements

More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

<div>

 <p>Teladoc Health, a virtual telehealth provider, is facing a prospective class action lawsuit. The suit alleges the company provided false or misleading information and concealed increased marketing expenditure related to its mental health service, BetterHelp. </p>

 <p>The lawsuit was filed following the resignation of Teladoc’s CEO, Jason Gorevic, in April. Gorevic's departure came in the wake of a 22% fall in the company's stock price, triggered by lower than expected fourth-quarter earnings and a reduced revenue forecast for 2024. The plaintiff asserts that despite publicly stating that escalated marketing expenditures would be inefficient, Teladoc ramped up its advertising spending on BetterHelp throughout 2023.</p>

 <p>The lawsuit also alleges that both Gorevic and Teladoc's CFO, Mala Murthy, made overly positive public declarations about BetterHelp's membership growth. Contrarily, the suit claims, membership either stagnated or declined during last year.</p>

</div> <p><b>Analyst Quicktake:<br>
 </b> This marks the second time a class action lawsuit has been filed against Teladoc Health in recent history. In <a href="https:<br>
//sp-edge.com/updates/10940"> June 2022 </a> , similar accusations were made against the company, allegedly misleading investors. The lawsuit, which was eventually dismissed in <a href="https:<br>
//sp-edge.com/updates/19974"> July 2023 </a> , similarly named Jason Gorevic and Mala Murthy as defendants and alleged that they had misled shareholders about the challenges Teladoc Health would face after its merger with Livongo in 2020.</p>

<div>
 
 <p>Hims &amp; Hers, a provider of asynchronous telehealth, has added GLP-1 medications to its range for weight loss management. Available in both injectable and oral forms, these medications are offered through a monthly subscription at a cost of USD 199.</p>
 <p>The latest offerings from the company encompass generic and 503B compounded injectable medications, as well as oral medication kits, all geared towards weight management. These products are sourced from a US-based manufacturer of generic GLP-1's, enabling the company to offer a service at reasonable pricing.</p>
 
</div>

Hims & Hers adds GLP-1 medications to weight loss management offerings

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

<div>

<p>Canadian startup TerraFixing Inc., specializing in direct air capture (DAC), has secured a commercial deal amounting to CAD 10 million (USD 7.3 million) with Tugliq Énergie Co., a provider of energy solutions. The partnership aims to develop two units for carbon capture to be used in northern Canada.</p>
<p>This collaboration will expedite the progression and implementation of TerraFixing’s DAC units, notably the 1,000- and 4,000-ton-per-year models. These units function best in harsh, windy climates. The model capable of capturing 1,000 tons per annum has already received contributions and backing from local communities and various funding partners. It is set to be deployed in Fermont, Canada, for CO2 removal.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> The commercial agreement was announced on the heels of a CAD 1.6 million (USD 1.2 million) seed financing round closed on May 1, co-led by Mr. Laurent Abbatiello and Dr. Pierre Rivard, founders of Tugliq. The funds raised, and the proceeds from commercial agreements will drive the development of the 1,000- and 4,000-ton-per-year models. In addition, the funds will support the expansion of the TerraFixing team and facilitate the establishment of a new R&amp;D laboratory space at the University of Ottawa.&nbsp;</p>

TerraFixing and Tugliq Énergie partner to develop cold-climate DAC

<div>
 
 <p>Spiritus, a direct air capture (DAC) startup, has partnered with global energy company, Aramco by signing a Memorandum of Understanding (MoU). The partnership followed an equity investment from Aramco Ventures in Spiritus in November 2023.</p>
 <p>The primary goal of this collaboration is to refine and improve Spiritus' sorbent technology, a unique aspect of their DAC methodology. Furthermore, the two companies plan to execute pilot testing of this technology in Saudi Arabia.</p>
 <p>The innovative DAC approach developed by Spiritus is engineered to break through current cost hindrances and boost efficiency tenfold compared with traditional methods. Consequently, this technology holds promise in considerably diminishing carbon emissions worldwide. It holds considerable potential particularly in the Middle East, where reductions in emissions from hard-to-abate sectors are a major concern.</p>
 
</div>

Spiritus partners with Aramco to improve DAC technology in Saudi Arabia

<div>
 
 <p>Twelve, a Californian company that specializes in CO2 utilization, and Boston Consulting Group (BCG), a worldwide management consulting firm, have decided to enter a partnership. The partnership involves BCG purchasing Sustainable Aviation Fuel Certificates (SAFc) from Twelve. This collaboration is part of BCG's commitment to have zero impact on the climate by 2030.</p>
 <p>By purchasing SAFc from Twelve, which produces low-carbon E-Jet fuel derived from renewable electricity and biogenic CO2, BCG expects to lessen its CO2 emissions by more than 4,000 tons between 2026 and 2029.</p>
 <p>This joint endeavour seeks to magnify both companies' resolve to decarbonize air travel and make quicker strides towards achieving zero emissions. Furthermore, the agreement incorporates the use of the SAFc Registry to ensure transparency and uniformity in SAF transactions.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This collaboration follows a 14-year e-SAF agreement signed in <a href="https:<br>
//sp-edge.com/updates/27110"> February 2024 </a> between Twelve and European airline conglomerate International Airlines Group (IAG) to produce 260 million gallons (~785,00 tons) of SAF. Under the agreement, Twelve will supply e-SAF to IAG to support five European airlines, including British Airways, Aer Lingus, Iberia, LEVEL, and Vueling.</p>

Twelve and BCG partner for SAFc purchase

Exploring the limitless possibilities of AI

Generative AI Applications

<div>

 <p>Microsoft has introduced a new lineup of Windows computers called Copilot+ PCs, starting at $999. These PCs are fitted with dedicated processors and a base configuration of 16GB RAM and SSD storage. They will be powered by Qualcomm's Snapdragon x Elite and Plus chips.</p>
 
<p>The Copilot+ PCs come equipped with Windows Copilot Runtime, which includes roughly 40 GenAI models and a local vector-based system allowing GenAI-powered apps, including third party ones, to function without an internet connection.</p>

<p>The PCs also offer a range of features. These include Recall, a feature that remembers previously accessed apps and content, Cocreator, a tool that generates images and allows users to guide the AI model to edit or restyle them, and Live Captions, which provides live translations of audio in around 40 languages.</p>

</div>

Microsoft announces new Copilot+ PCs and AI-powered features for Windows 11 ahead of Build developer conference

Making meat sustainable over the long term.

Cell-cultured Meat

<div>
 <p>Wanda Fish, an Israeli firm specializing in cell-based seafood, has unveiled its first cell-cultivated bluefin tuna toro sashimi prototype. This is created through the fusion of bluefin tuna muscle and fat cells with a plant-based matrix, resulting in a 3-dimensional filet.</p>
 <p>The product was designed as an alternative to raw toro in sashimi, featuring similar content of protein and omega-3 fatty acids as its traditional counterpart. Encouragingly, this innovation not only mimics the look of bluefin tuna, but also its mouthfeel, owing to the inclusion of comparable fat marbling quantities.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This development follows the company’s latest funding round in <a href="https:<br>
//sp-edge.com/updates/22540"> October 2023 </a> , which raised USD 7 million in seed funding. The company aims to target the high-end foodservice market with this cultivated product, as bluefin tuna is considered a marine delicacy, with 1 kg costing upwards of USD 100.</p>

All Updates

Phytolon and Ginkgo Bioworks complete first milestone for natural food colors

Volvo and Aurora reveal first production-ready autonomous truck for long-haul transportation

Pasqal collaborates with Aramco to install first quantum computer in Saudi Arabia

Second class action lawsuit filed against Teladoc for alleged misleading statements

Second class action lawsuit filed against Teladoc for alleged misleading statements

Hims & Hers adds GLP-1 medications to weight loss management offerings

TerraFixing and Tugliq Énergie partner to develop cold-climate DAC

Spiritus partners with Aramco to improve DAC technology in Saudi Arabia

Twelve and BCG partner for SAFc purchase

Microsoft announces new Copilot+ PCs and AI-powered features for Windows 11 ahead of Build developer conference

Wanda Fish unveils cultivated bluefin tuna prototype

Novel Foods

Phytolon and Ginkgo Bioworks complete first milestone for natural food colors

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