<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Synhelion, a Swiss solar-to-fuels startup, has launched DAWN, the world's first industrial-scale plant to produce synthetic fuels from solar heat, in J&uuml;lich, Germany.
      </p>
    </li>
    <li>
      <p>
        The DAWN plant features a 20 m solar tower, a mirror field, a solar receiver, a thermochemical reactor, and a thermal energy storage system to enable cost-effective solar fuel production.
      </p>
    </li>
    <li>
      <p>
        The DAWN plant will begin operations in 2024 and produce several thousand liters per year of solar fuels, including solar kerosene, solar gasoline, and solar diesel, which are fully compatible with existing fuel infrastructure.
      </p>
    </li>
    <li>
      <p>
        The company will begin constructing its first commercial plant in Spain in 2025. The plant will produce 1,000 tons of fuel per year. Within 10 years, the company aims to reach an annual production volume of approximately 1 million tons of solar fuel.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        Earlier this month, the company partnered with 
        <a href="https://sp-edge.com/updates/30298">
          Pilatus Aircraft
        </a>
        , a Switzerland-based aircraft manufacturer, to use Synhelion&rsquo;s solar fuels in its operations and offer them to its customers in the future. As part of this initiative, Pilatus has become a shareholder in Synhelion. The fuel produced by DAWN will also be made available to Pilatus' entire customer fleet within the next decade.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://synhelion.com/news/synhelion-inaugurates-dawn">
      Press release
    </a>
  </p>
  <p>
    <a href="https://www.ainonline.com/aviation-news/aerospace/2024-06-20/dawn-rises-worlds-first-solar-powered-fuel-refinery">
      AIN
    </a>
  </p>
  <p>
  </p>
</div>


Carbon Capture, Utilization & Storage (CCUS)

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 <p>Swiss startup Synhelion has unveiled DAWN, the first world's industrial-scale plant that generates synthetic fuels from solar heat, established in Jülich, Germany.</p>
 <p>DAWN consists of a 20 m solar tower, mirror field, solar receiver, thermochemical reactor, and thermal energy storage system, collectively facilitating economical production of solar fuel.</p>
 <p>The plant is set to start operations in 2024, producing several thousand liters of solar kerosene, solar gasoline, and solar diesel annually. These fuels are fully compatible with the existing fuel infrastructure.</p>
 <p>Synhelion plans to build its first commercial plant in Spain in 2025, aiming to produce 1,000 tons of fuel per annum. The company's long-term objective is to achieve an annual production volume of roughly 1 million tons of solar fuel within the next decade.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Earlier this month, the company partnered with <a href="https:<br>
//sp-edge.com/updates/30298"> Pilatus Aircraft </a> , a Switzerland-based aircraft manufacturer, to use Synhelion’s solar fuels in its operations and offer them to its customers in the future. As part of this initiative, Pilatus has become a shareholder in Synhelion. The fuel produced by DAWN will also be made available to Pilatus' entire customer fleet within the next decade.</p>

Synhelion unveils DAWN, world's first industrial-scale solar-fuel plant

Information to create a more efficient, cleaner and safer way to travel in the city of the future

Smart Mobility Information

<div>
 <p>Portuguese transport management platform, Meight, has secured a funding of EUR 3.4 million (~USD 3.54 million). The funding round was led by Cusp Capital and had participation from Grupo Lusiaves, Faber, and EIT Urban Mobility.</p>
 <p>This funding is set to facilitate the expansion of Meight's operations across Europe. It will also accelerate the advancement of its cloud-based transport system, including the improvement of AI-enabled freight planning capabilities.</p>
 <p>Stationed in Portugal, Meight offers transport management solutions powered by AI. This allows companies to manage various operations ranging from route planning to reporting. Their patented technology along with a driver application aims to lessen fuel consumption and cut down carbon emissions. This is achieved by minimising unnecessary trips and promoting paperless operations. The platform can connect with enterprise systems, process telemetry data, anticipate fuel needs, and pinpoint non-compliant driving patterns. In addition, it offers users the ability to ensure driver compliance by means of uploading necessary documentation and pre-setting travel routes.</p>
 </div>

Meight raises EUR 3.4 million in funding led by Cusp Capital

Additive manufacturing makes objects by systematically adding material via a CAD program

Additive Manufacturing

<div>
 <p>Desktop Metal, a metal 3D printing company, has sued Nano Dimension, an additive manufacturing solution company, in the Delaware Court of Chancery for allegedly failing to fulfill their obligations in securing regulatory approval for their proposed merger. An expedited court hearing is scheduled for December 30, 2024.</p>
 <p>Desktop Metal is demanding that Nano Dimension takes necessary steps in acquiring approval from the Committee on Foreign Investment in the US (CFIUS), including the completion and signing of the proposed mitigation agreement and finalising the merger within five days post CFIUS approval.</p>
 <p>The lawsuit is asking for a court declaration stating that Nano Dimension did not put in reasonable efforts to gain regulatory approval, and seeks to stop Nano Dimension from ending the proposed merger agreement through an injunction. The merger agreement's other regulatory conditions have already been met with CFIUS approval being the last regulatory hurdle needed to conclude the deal.</p>
 </div> <p><b>Analyst QuickTake:<br>
</b> This legal action follows a series of complex acquisition attempts and internal issues involving Nano Dimension and Desktop Metal. In May 2023, <a href="https:<br>
//sp-edge.com/companies/74544"> Stratasys </a> , a 3D printing company partly owned by Nano Dimension (14.5%), announced plans to <a href="https:<br>
//sp-edge.com/updates/18906"> merge with Desktop Metal </a> in an all-stock transaction valued at USD 1.8 billion. However, this merger was <a href="https:<br>
//sp-edge.com/updates/22625"> terminated in September </a> 2023 after Stratasys' shareholders voted against the deal. Meanwhile, Desktop Metal faced its own internal troubles, which led to the <a href="https:<br>
//sp-edge.com/updates/25957"> laying off of 20% of its workforce </a> as part of a USD 50 million cost-cutting strategy (in January) and the company <a href="https:<br>
//sp-edge.com/updates/26716"> filing for a USD 250 million mixed securities shelf offering </a> (in February).</p>

Desktop Metal sues Nano Dimension over merger compliance

<div>
 <p>Nexa3D, a 3D printing company, has revealed plans to scale back its operations after withdrawing from the Formnext 2024 expo in Germany.</p>
 <p>The firm names economic difficulties as the main cause for the operational scale-back, along with a reduction in directly assisting customers. Support will now be handed off to reseller partners as the company reduces direct support capacities.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> This news comes as a relative surprise from Nexa3D, which began the year with back-to-back acquisitions. In January, it <a href="https:<br>
//sp-edge.com/updates/25542"> acquired Essentium </a> , an industrial AM provider, to add high-speed extrusion (HSE) to its portfolio. In February, it <a href="https:<br>
//sp-edge.com/updates/27940"> acquired 3D-Fuel </a> , a 3D printing filament manufacturer, to expand its material offerings. Notably, this announcement did not have specific timelines or detailed plans, suggesting that the scale-down was unexpected.</p>

Nexa3D scales back operations amid financial crisis

The toolkit to build machine learning applications at scale

Machine Learning Infrastructure

<div>
 <p>Data labeling company, Fraction AI, has successfully raised USD 6 million in pre-seed funding. The effort was co-led by Spartan and Symbolic and saw participation from Borderless, Anagram, Foresight, and Karatage as well as angel investors such as Sandeep Nailwal from Polygon and Illia Polosukhin from Near.</p>
 <p>Fraction AI is planning on using this funding to boost its research initiatives and upgrade its infrastructure. This will enable the company to scale its unique hybrid data labeling approach.</p>
 <p>As it stands, Fraction AI's platform is in closed testnet with over 60,000 users. They aim to introduce a public testnet by January 2025. The platform uses a competitive framework in which AI agents are deployed by builders, with Stakers providing an economic basis by staking ETH.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Fraction AI differentiates itself with a Web3-driven model that incentivizes community collaboration. Contributors can submit, label, and verify data, helping to build perpetual datasets while earning rewards. Data owners retain revenue and governance rights, ensuring direct control over their contributions. Other recent data labeling funding rounds include SuperAnnotate, which raised USD 36 million in <a href="https:<br>
//sp-edge.com/updates/36141"> November 2024 </a> .</p>

Fraction AI raises USD 6 million in pre-seed funding to scale hybrid data labeling

Technology to explore opportunities beyond Earth

Space Travel and Exploration Tech

<div>
 <p>Space travel company Rocket Lab has collaborated with Japanese satellite manufacturer Synspective for the successful launch of the sixth StriX satellite. The launch was carried out from Rocket Lab's New Zealand launch complex 1 using its Electron rocket.</p>
 <p>The mission saw the deployment of the StriX synthetic aperture radar (SAR) imaging satellite, a product of Synspective, into a sun-synchronous orbit. This launch is part of a contract between the two companies, signed in June, which will see Rocket Lab perform 10 additional Electron launches over the next three years. The financial terms of this large contract have not been shared.</p>
 <p>Following Synspective’s recent listing on the Tokyo Stock Exchange Growth Market, the company has raised funds to expand its satellite constellation. In addition to its alliance with Rocket Lab, Synspective is also contemplating the use of SpaceX rideshare services for future satellite launches.</p>
 
</div>

Rocket Lab launches sixth Synspective radar satellite as part of ongoing partnership

Clean, congestion-free air travel gets liftoff

Passenger eVTOL Aircraft

<div>
 <p>Chinese autonomous aerial vehicle developer, EHang Holdings Limited, has entered a strategic partnership with Changan Automobile, a car manufacturer in China. The partnership will focus on the research, manufacturing, sales, and operation of flying car-related products, including eVTOL aircraft.</p>
 <p>EHang will utilise its experience in aerial vehicles and flight operations, whilst leveraging Changan's manufacturing skills. The partnership aims to establish a joint venture to oversee research, production, and relevant services.</p>
 <p>The joint efforts will concentrate on integrating low-altitude economy applications, to expedite the commercial rollout of both flying cars and EHang's unmanned eVTOL aircraft.</p>
</div>

EHang partners with Changan Automobile to develop eVTOL aircraft for personal transportation

Technology providers that enhance satellite operations

Next-gen Satellites

<div>
 <p>Rocket Lab, a company specialising in space travel and rocket launches, has joined forces with Synspective, a Japanese satellite producer. Together, they have successfully launched the sixth StriX satellite, using Rocket Lab's Electron rocket from their launch complex based in New Zealand.</p>
 <p>The Electron rocket was utilised to deploy the StriX synthetic aperture radar (SAR) imaging satellite. Synspective developed and operates this satellite, which entered a sun-synchronous orbit nearly an hour following its launch. This mission is just one part of a contract agreed upon with Rocket Lab in June. This contract outlines 10 more Electron launches set to occur over the coming three years. As of yet, the cost of this contract, the most substantial for Rocket Lab to date, is still unknown.</p>
 <p>Following its recent public listing on the Tokyo Stock Exchange Growth Market, Synspective was able to raise funds to augment its satellite constellation. Alongside its ongoing collaboration with Rocket Lab, Synspective is also considering using SpaceX rideshare missions for future satellite launches.</p>
 
</div>

Electrifying passenger and commercial travel

EV Economy

<div>
 <p>NIO, a Chinese EV manufacturer listed on the NYSE, has introduced its third brand, Firefly, complementing its existing brands, NIO and Onvo. The inaugural model from Firefly is a high-end small EV, with pre-orders in China priced at RMB 148,800, approximately USD 20,390.</p>
 <p>Equipped with battery swap technology, the Firefly model is expected to debut in Europe a quarter after its Chinese release. It will be subject to EU tariffs of 20.7% on top of the EU's customary <a href="https://www.reuters.com/business/autos-transportation/eu-slaps-tariffs-chinese-evs-risking-beijing-payback-2024-10-29/"> 10% </a> import duty on cars.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> This new product launch follows NIO focusing on rapidly expanding its geographical footprint in 2024. Most recently, in <a href="https:<br>
//sp-edge.com/updates/36125"> November 2024 </a> , the company signed a strategic cooperation agreement with Green Car to provide its EV products and services in Azerbaijan. Prior to this, in <a href="https:<br>
//sp-edge.com/updates/34661"> October 2024 </a> , NIO partnered with Abu Dhabi-based CYVN Holdings to form NIO MENA, a joint venture (JV) targeting the Middle East and North Africa markets to introduce NIO and its sub-brand models to the MENA region. The collaboration intends to develop local production and R&amp;D as well as the development of a new EV model specifically for the local market.</p>

NIO launches its Firefly brand

INCUMBENTS_PRESENT

<div>
 <p>Archer Aviation, a manufacturer of eVTOL aircraft listed on the NYSE, has finished building its ARC manufacturing facility. The facility is 400,000 sq ft in size and is located in Covington, Georgia, nearby the Covington Municipal Airport. Initial production at this facility is planned to begin early in 2025.</p>
 <p>The ARC facility was selected based on several considerations, including availability of local labor, access to utilities, the possibility for flight test operations, and the cost of construction. This facility will serve as a manufacturing center. Staff from Stellantis will be on-site to offer their expertise in automotive manufacturing, specifically as it pertains to eVTOL production.</p>
 <p>By the end of 2025, Archer Aviation aims to reach a production rate of two aircraft per month. The Georgia location of the ARC facility provides accessibility to well over 800 companies in the aerospace industry.</p>
</div>

Archer completes manufacturing facility for eVTOL aircraft

<div>
 <p>Horizon Aircraft, a Canadian eVTOL developer, has secured USD 8.4 million in strategic funding from an undisclosed investor. This is made up of USD 2.1 million in Class A ordinary shares and USD 6.3 million in preferred shares, set to convert to common shares over five years.</p>
 <p>The funds will be utilised to strengthen Horizon Aircraft’s financial standing, back its continuing operations, push regulatory objectives, and promote more development and flight testing for the Cavorite X7 hybrid eVTOL.</p>
</div>

All Updates

Synhelion unveils DAWN, world's first industrial-scale solar-fuel plant

Meight raises EUR 3.4 million in funding led by Cusp Capital

Desktop Metal sues Nano Dimension over merger compliance

Nexa3D scales back operations amid financial crisis

Fraction AI raises USD 6 million in pre-seed funding to scale hybrid data labeling

Rocket Lab launches sixth Synspective radar satellite as part of ongoing partnership

EHang partners with Changan Automobile to develop eVTOL aircraft for personal transportation

Rocket Lab launches sixth Synspective radar satellite as part of ongoing partnership

NIO launches its Firefly brand

Archer completes manufacturing facility for eVTOL aircraft

Horizon Aircraft secures USD 8.4 million in strategic funding to develop hybrid eVTOL

Carbon Capture, Utilization & Storage (CCUS)

Synhelion unveils DAWN, world's first industrial-scale solar-fuel plant

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