<div>
  <ul>
    <li>
      <p>
        Electra Battery Materials Corporation, a battery materials processing and recycling company, has received financing of USD 20 million from the US Department of Defense. The award is part of the Defense Production Act's Title III to enhance domestic production abilities.
      </p>
    </li>
    <li>
      <p>
        The capital is expected to aid in the construction and commissioning of the only cobalt sulfate refinery in North America. This refinery will be capable of producing battery-grade materials for lithium-ion batteries.&nbsp; Electra plans to produce 6,500 tonnes of cobalt annually to manufacture over 1 million EVs annually.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         In 
        <a href="https://sp-edge.com/updates/30414">
          June 2024
        </a>
        , the company raised ~USD 3.6 million in grant funding from Natural Resources Canada to expedite the next phase of Electra's recycling project. The company focuses on developing North America's only cobalt sulfate refinery and a black mass refinery, which is seen as a nationally strategic endeavor, as over 80% of battery-grade cobalt is manufactured in China as of 2024.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://quantisnow.com/insight/electra-awarded-20-million-from-us-department-of-defense-under-the-defense-production-act-5664191">
      Quantisnow
    </a>
  </p>
</div>


Waste Recovery & Management Tech

ANALYST_QUICK_TAKE

<div>
 <p>Electra Battery Materials Corporation, a company specialising in processing and recycling battery materials, has been granted a financing amount of USD 20 million by the US Department of Defense. This funding is a part of the Title III of the Defense Production Act, aimed at increasing domestic production capabilities.</p>
 <p>It is anticipated that the invested capital will facilitate the creation and start-up of the sole cobalt sulfate refinery in North America. The refinery is designed to produce battery-grade materials for lithium-ion batteries.&nbsp; With an aim to produce 6,500 tonnes of cobalt every year, Electra plans to manufacture in excess of 1 million EVs annually.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//sp-edge.com/updates/30414"> June 2024 </a> , the company raised ~USD 3.6 million in grant funding from Natural Resources Canada to expedite the next phase of Electra's recycling project. The company focuses on developing North America's only cobalt sulfate refinery and a black mass refinery, which is seen as a nationally strategic endeavor, as over 80% of battery-grade cobalt is manufactured in China as of 2024.</p>

Electra Battery Materials secures USD 20 million federal grant funding to expand refinery operations

The toolkit to build machine learning applications at scale

Machine Learning Infrastructure

<div>
 <p>Kneron, an AI chip manufacturer, aims to raise USD 300 million in its latest funding round, potentially bringing its evaluation to USD 1 billion. The company has received investments from Qualcomm Ventures, Sequoia Capital China (now HongShan), Hon Hai Precision Industry Co., and Horizons Ventures in the past.<p>
  
<p>With this new funding, Kneron plans to fuel product innovation and expansion plans that include establishing a regional office and an R&D lab in Saudi Arabia. The round is likely to be its last before the company's expected public listing in 2025.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The surging demand for AI chips has helped Kneron to raise significantly more funding than its USD 49 million Series B funding raised in <a href="https:<br>
//sp-edge.com/updates/22177"> September 2023 </a> . Additionally, funding proceeds from last year helped the company launch its new KNEO 330 AI chip for on-premise AI applications in <a href="https:<br>
//sp-edge.com/updates/30098"> June 2024 </a> .</p>

AI chip maker Kneron seeks USD 300 million in funding from investors

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

<div>
 <p>AI chip manufacturer Kneron is reportedly seeking to raise approximately USD 300 million in a new funding round. This significant investment would place the value of the Taiwanese-American company at an estimated USD 1 billion. In the previous funding rounds, Kneron received support from renowned investors such as Qualcomm Ventures, Sequoia Capital China (now known as HongShan), Hon Hai Precision Industry Co., and Horizons Ventures.</p>
 <p>Kneron plans on allocating the funds towards the advancement of product innovation and company expansion. One of the company's more specific objectives include the creation of a regional office and a research &amp; development lab located in Saudi Arabia. This fundraising is projected to be the final private round for Kneron, as it plans to pursue a public listing in 2025.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The surging demand for AI chips has helped Kneron to raise significantly more funding than its USD 49 million Series B funding raised in <a href="https:<br>
//sp-edge.com/updates/22177"> September 2023 </a> . Additionally, funding proceeds from last year helped the company launch its new KNEO 330 AI chip for on-premise AI applications in <a href="https:<br>
//sp-edge.com/updates/30098"> June 2024 </a> .</p>

Automation to improve business efficiency

Workflow Automation Platforms

PROMINENT_CATEGORY

<div>
  <p>ServiceNow, a platform utilising artificial intelligence for business transformation, has introduced Workflow Data Fabric, a novel platform for the integrated data layer designed to connect enterprise data across different systems. This undertaking was done in partnership with systems integrator Cognizant.</p>
  <p>Workflow Data Fabric is capable of connecting and processing a range of data, including structured, unstructured, semi-structured, and streaming data from various enterprise sources. The platform operates on the basis of the Automation Engine provided by ServiceNow, which encompasses pre-built integrations, data streaming in real-time, tools for robotic process automation (RPA), and process mining capabilities. The platform also houses the ServiceNow Knowledge Graph, a tool that facilitates the conversion of raw data into contextual insights, as well as program AI agents to function autonomously across the enterprise.</p>
  <p>ServiceNow is a company providing cloud-based software solutions that promote digital workflow assistance to organisations, assisting them in managing and automating their business processes across several departments such as IT, customer service, human resources, and others. Their primary product, the Now Platform, acts as the basis for its varying product offerings, utilising a unified data model and architecture to streamline integration and automate workflows. The core products of ServiceNow encompass IT Service Management (ITSM), IT Operations Management (ITOM), Customer Service Management (CSM), and Human Resources Service Delivery. </p>
</div>

ServiceNow launches Workflow Data Fabric data integration platform

A concentration of wealth and a willingness to adopt age-in-place technologies present new opportunities.

Age Tech

<div>
 
 <p>Audientes A/S, a hearing health company, has raised DKK 1.7 million (USD 250,000) via a directed issue. The income includes a DKK 1.28 million (USD 190,000) cash capital increase from 13 independent investors, while the remaining amount was raised from debt conversion by trade creditors. The share price was fixed at DKK 0.014 (USD 0.002) each.</p>
 <p>These funds will be used to finance operational costs for market entry in China and Japan, expanding operations in Europe and India, maintaining products, supporting customers, and developing new products.</p>
 <p>Post the capital increase, the share count of Audientes will grow by 121,638,386 to 322,031,063 shares, resulting in a dilution impact of about 37.77%. In order to achieve its break-even goals by 2025, the company is planning to pursue a long-term bond of up to EUR 1 million (USD 1.08 million).</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Earlier in <a href="https:<br>
//sp-edge.com/updates/32645"> August </a> this year, Aufientes partnered with Shenzhen Hengtong, a Chinese medical product distributor, to form a joint venture that would develop and commercialize hearing solutions for the Chinese market. With this funding, the company appears to be supporting this initiative, while additionally supporting its other initiatives targeting global expansion.</p>

Audientes A/S raises DKK 1.7 million in directed issue to support global operations

Sustainably solving the food shortages of the future

Smart Farming

<div>
 
 <p>Nasdaq-listed AI drone solutions company, ZenaTech, is set to acquire ZooOffice Inc., which encompasses software companies Jadian and DeskFlex. The acquisition price remains undisclosed. Jadian creates software solutions that tackle compliance, audits, inspections, licenses, permits, and risk management for municipal and county governments. DeskFlex, on the other hand, develops AI room booking software that aids organizations in optimizing office space allocation.</p>
 <p>The acquisition intends to elevate ZenaTech's ZenaDrone AI drone solutions by merging it with compliance and inspection software from Jadian. This merge is primarily targeted towards the agricultural sector. Furthermore, the scheduling and mapping software from DeskFlex will be incorporated within property management sector solutions.</p>
 
</div>

ZenaTech acquires ZooOffice Inc. with subsidiaries Jadian and DeskFlex for undisclosed sum

<div>
 
 <p>Agricultural technology firm, Meristem, has received growth funding from private asset growth investor, Bridgepoint. The net worth of the deal, closed in October 2024, however, remains undisclosed. Meristem operates in the US biologicals market for row crops, claiming it to be the fastest-growing agricultural inputs market.</p>
 <p>The funding is projected to back its plans for international expansion, especially in Europe and Latin America. The company also plans to utilise the funds for introducing new product combinations, expanding its consumer base and boosting IP development capabilities.</p>
 <p>Meristem, since its establishment in 2018, currently has a workforce of about 60 employees, catering to over 10 million acres of various crops including corn and soybean.</p>
 
</div>

Meristem raises undisclosed amount in growth funding from Bridgepoint

INCUMBENTS_PRESENT

<div>
 
 <p>WRAP, a sustainability organization in the UK, has collaborated with retailer Primark for a three-year project to improve textile donation strategies and boost circular economy practices.</p>
 <p>This collaboration involves the Behaviour Change subsidiary of WRAP contributing its knowledge in behavioural sciences, with Yellow Octopus acting as an advisory partner. The collaboration has a goal of closing the consumer awareness gap in textile donation strategies.</p>
 <p>Primark, as part of this partnership, has committed to ensuring its clothes are recyclable by design by 2027. This builds on their involvement in WRAP's Sustainable Clothing Action Plan since 2016. The aim of this project is to decrease the carbon footprint of the textile industry by half by 2030.</p>
 
</div>

WRAP partners with Primark to improve textile recycling and circular initiatives

<div>

<p>Heidelberg Materials, a UK company specialising in building materials, has opened a new concrete recycling facility near Katowice, Poland. The innovative site makes use of FCB Rhodax technology from Fives to recycle concrete that has been demolished.</p>

<p>The company has stated that the facility has capability of recycling all demolition concrete into aggregates, sand and cement paste that are of a high quality. Moreover, the FCB Rhodax technology reportedly allows control of the force used on the material bed. This results in excellent concrete component separation while maintaining their quality. It also complies with the European Standards for both recycled and virgin materials.</p>

</div>

Heidelberg Materials launches concrete recycling facility in Poland

Generating, collecting, and analyzing enterprise data will never be the same.

Edge Computing

<div>
 
 <p>Nokia and Lenovo have established a strategic alliance to create data center solutions specifically tailored for AI and ML workloads. This collaboration will combine Lenovo's ThinkSystem AI-ready servers and storage with Nokia's data center networking facilities. It encompasses data center fabric, IP routing, Event-Driven Automation platform, and DDoS security portfolios as part of their integrated approach.&nbsp;</p>

</div> <p><b>Analyst QuickTake:<br>
</b> The combined solution aims to provide high-speed interconnectivity for AI clusters within and between data centers, improving data center capabilities by addressing the demanding compute, storage, and transit needs of AI and ML applications.</p>

Nokia partners with Lenovo to develop edge-ready AI data centers

<div>
 
 <p>ZEDEDA, a firm specializing in edge management and orchestration, has teamed up with OnLogic, an industrial computer production company. The collaboration resulted in the creation of OnLogic Powered by ZEDEDA, a blend of robust hardware and cloud-native edge orchestration software.</p>
 <p>The goal of this partnership is to decrease the deployment time and maintenance expenses connected with distributed edge infrastructure. Notably, the partnership highlights features such as application-agnostic design and extended solution lifecycles.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> ZEDEDA and OnLogic’s partnership reflects a broader trend toward integrating hardware and software to address the growing complexity of industrial edge computing. This partnership also follows ZEDEDA’s <a href="https:<br>
//sp-edge.com/updates/33945"> partnership with Edge Impulse </a> , initiated in September 2024, to accelerate AI deployment at the edge.</p>

All Updates

Electra Battery Materials secures USD 20 million federal grant funding to expand refinery operations

AI chip maker Kneron seeks USD 300 million in funding from investors

AI chip maker Kneron seeks USD 300 million in funding from investors

ServiceNow launches Workflow Data Fabric data integration platform

Audientes A/S raises DKK 1.7 million in directed issue to support global operations

ZenaTech acquires ZooOffice Inc. with subsidiaries Jadian and DeskFlex for undisclosed sum

Meristem raises undisclosed amount in growth funding from Bridgepoint

WRAP partners with Primark to improve textile recycling and circular initiatives

Heidelberg Materials launches concrete recycling facility in Poland

Nokia partners with Lenovo to develop edge-ready AI data centers

ZEDEDA and OnLogic partner to launch integrated edge computing solution for industrial environments

Waste Recovery & Management Tech

Electra Battery Materials secures USD 20 million federal grant funding to expand refinery operations

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