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 Citroniq Chemicals, a producer of carbon-negative materials, has secured USD 12 million in Series A funding. The round was led by a multinational energy technology company co-invested from Lummus Technology Ventures and in partnership with the State of Nebraska.
 
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 The funds will advance the planning, design, and construction of the company&rsquo;s first manufacturing facility in Nebraska. This facility is part of the company's plan to build multiple biomanufacturing hubs to convert local ethanol into bioplastics.
 
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 Founded in 2020, Citroniq converts captured CO2 into carbon-negative plastics and olefins. The company is building the world's largest decarbonization platform, capturing and avoiding 2 million tons of CO2 emissions per year per facility. The company's E2O process captures CO2 emissions and permanently sequesters the carbon in plastic pellets.
 
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 <a href="https://www.prnewswire.com/news-releases/citroniq-chemicals-closes-12-million-series-a-financing-302237060.html">
 Press release
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Carbon Capture, Utilization & Storage (CCUS)

<div>
 Citroniq Chemicals, a company specialising in the production of carbon-negative materials, recently obtained Series A funding amounting to USD 12 million. The round was headed by a global energy technology company and was brought about in collaboration with the State of Nebraska and Lummus Technology Ventures.
 The newly acquired funds will be directed towards the planning, design, and construction of Citroniq Chemicals' first manufacturing plant which is to be based in Nebraska. This is in line with the company's objective of establishing numerous biomanufacturing hubs intended for the conversion of local ethanol into bioplastics.
 Established in 2020, the main business of Citroniq revolves around converting captured CO2 into carbon-negative plastics and olefins. To this end, it is developing the largest decarbonization platform in the world, with the aim of capturing and removing 2 million tons of CO2 emissions from each facility every year. It also has an E2O process in place which captures CO2 emissions and successfully sequesters the carbon in the form of plastic pellets.
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Citroniq Chemicals raises USD 12 million in Series A funding for manufacturing facility

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

Additive Manufacturing

ANALYST_QUICK_TAKE

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 6K Additive, a supplier of additive manufacturing materials, has been chosen by America Makes, an institution that collaborates on 3D printing projects in the US, to participate in the "Powder Alloy Development for Additive Manufacturing (PADAM)" project.
 The project, endowed with six million dollars from the Air Force Research Laboratory, aims to enhance the cost-efficiency and effectiveness of the production of niobium C-103 powder for laser powder bed fusion and directed energy deposition (DED) 3D printing processes. Additionally, it aims to extend the source pool and utilize a wider range of particle sizes for C-103, a niobium alloy utilized in high-temperature applications. The project will also include collaboration with Castheon, NASA Glenn Research Center, NSL Analytical, Lockheed Martin, and Firefly Aerospace.
 &nbsp;6K Additive plans to use its proprietary UniMelt microwave plasma process to generate C-103 powders from revert sources, reportedly enhancing efficiency in high-temperature and space applications.
 
</div> Analyst Quicktake: 
 This news marks the second time that American Makes has selected the company to participate in one of its projects. Last month, the company <a href="https: 
//sp-edge.com/updates/32452"> partnered with RTX Technology Research Center and the University of Arizona </a> as part of the EARTH project under America Makes and the National Center for Defense Manufacturing and Machining to make aerospace and defense product manufacturing more sustainable.

6K Additive awarded project to develop C-103 powder for additive manufacturing

PROMINENT_CATEGORY

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Innovative Space Carrier (ISC), a company in Tokyo specializing in space transportation systems, has entered into a partnership with WAAM3D, Cranfield University, and Aichi Sangyo. All these organizations bring different specialties to the table - WAAM3D is a metal AM solutions provider, while Aichi Sangyo is known for their metal 3D printers. The collaboration aims to develop reusable space transportation vehicles.
The partnership will allow ISC to procure 3D printers from WAAM3D in Japan for the purpose of creating propellant tanks and other necessary components for space transport. This should contribute to the flexibility and efficiency of the development process.&nbsp;

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WAAM3D partners with Innovative Space Carrier, Cranfield University, and Aichi Sangyo for space transport development

Using real-time data to create dynamic virtual representations of the real world

Digital Twin

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 Akselos, a provider of digital twin technology, has launched a new software called Structural Performance Management for FPSO 4.0. The software is designed for Floating Production Storage and Offloading (FPSO) vessels and aims to enhance their operations and longevity.
 The software offers several benefits including a reduction in operating costs, optimal planning for inspections and maintenance, minimal downtime, and faster resolution of structural issues. Utilizing RB-FEA technology, the software produces millimeter-level precision for monitoring structural integrity. It develops a digital twin of the FPSO and has the capability to integrate various data such as inspection, metocean, tank fills, and unloading.
 
</div> Analyst QuickTake: 
 Akselos has entered partnerships to offer digital twin solutions for FPSOs in the past. Last September, the company partnered with <a href="https: 
//sp-edge.com/updates/21998"> Yinson Production and Enauta </a> to deploy Akselos' digital twin technology on the floating vessel Atlanta FPSO in Brazil's Santos Basin.

Akselos introduces software for FPSO monitoring

Exploring the limitless possibilities of AI

Generative AI Applications

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 OpenAI introduces o1, a new series of AI models for fact-checking and code generation purposes.
 The o1 preview employs a "chain of reasoning" system, which assesses all facets of a query before responding. The model's capability to plan and execute a series of tasks over a longer period makes it ideal for undertaking tasks that demand the integration of multiple subtasks. The price for using o1-preview in API is set at USD 15 per 1 million input tokens and USD 60 per 1 million output tokens.
 The service also includes a more affordable modeling option called o1-mini designed for coding, which is priced 80% less than the cost of o1-preview.
 
</div> Analyst QuickTake: 
 This news comes as the company reportedly seeks to <a href="https: 
//sp-edge.com/updates/33517"> raise USD 6.5 billion </a> in funding while considering <a href="https: 
//sp-edge.com/updates/33264"> restructuring </a> to attract investors. Notably, the new <a href="https: 
//sp-edge.com/updates/32995"> o1 model </a> was code-named "Strawberry" and planned to be launched in the fall of 2024 (September–December). The company claims that the model outperforms previous data analysis, science, and coding models. However, o1 can be slower than other models, sometimes taking over 10 seconds to answer questions, and may still produce errors and hallucinations.

OpenAI launches o1, a self-fact-checking AI model

Now anyone can become a software developer.

No-code Software

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 Mobile app development platform, Apptile, has successfully raised an additional USD 1.2 million in seed funding. The round of financing was lead by Singularity Early Opportunities Fund, alongside contributions from Crown Trust and DeVC.
 The funding is set to be utilized for enhancing the ongoing product development, expansion of integrations with various other platforms and services, and overall market expansion.
 Apptile's platform is unique as it offers a no-code platform that enables Shopify merchants to easily create custom mobile applications. Users can construct these applications using a drag-and-drop interface provided by the platform. Additionally, the platform offers a library of pre-built content templates, some of which include native quizzes, customized product pages, and branding. Value added features include integration with third-party services, management and sending of push notifications, and automation of marketing campaigns.&nbsp;&nbsp;
 
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Apptile raises USD 1.2 million in seed funding to develop platform

Foundation Models

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 OpenAI has unveiled a new set of AI models, named o1, designed for fact-checking and code generation tasks.
 The o1 model uses a comprehensive "chain of reasoning" methodology, assessing every component of a problem before coming up with a response. This strategic approach enables the model to execute a series of actions over a prolonged period to solve complex problems that require the completion of various subtasks. Pricing for use of the o1-preview version through API is at the rate of USD 15 for 1 million input tokens and USD 60 for 1 million output tokens.
 The subsidiary version, o1-mini, is an affordable alternative for programming tasks, costing 80% less than the o1-preview model.
 
</div> Analyst QuickTake: 
 This news comes as the company reportedly seeks to <a href="https: 
//sp-edge.com/updates/33517"> raise USD 6.5 billion </a> in funding while considering <a href="https: 
//sp-edge.com/updates/33264"> restructuring </a> to attract investors. Notably, the new <a href="https: 
//sp-edge.com/updates/32995"> o1 model </a> was code-named "Strawberry" and planned to be launched in the fall of 2024 (September–December). The company claims that the model outperforms previous data analysis, science, and coding models. However, o1 can be slower than other models, sometimes taking over 10 seconds to answer questions, and may still produce errors and hallucinations.

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 The Australian company SPEE3D, which provides additive manufacturing solutions, took part in an advanced manufacturing demonstration hosted by the US Army Combat Capabilities Development Command (DEVCOM) Army Research Laboratory (ARL) at the University of Tennessee Knoxville. The purpose of this event was to train soldiers without any previous knowledge in additive manufacturing to 3D print a required part for equipment repair in the field. Specifically, the piece to make was a transmission mount for a Bradley Fighting Vehicle, using SPEE3D's cold spray additive manufacturing technology.
 
</div> Analyst QuickTake: 
 The company has recently focused on expanding its reach within the US defense sector . Its recent activity includes: 
 1) <a href="https: 
//sp-edge.com/updates/32619"> Completing </a> the experimental portion of the RIMPAC exercise at the Marine Corps Air Station (in August); 2) launching its <a href="https: 
//sp-edge.com/updates/31068"> US-based manufacturing facility and applications center </a> (in June) to collaborate more closely with the US Department of Defense; and 3) launching an <a href="https: 
//sp-edge.com/updates/29446"> expeditionary manufacturing unit </a> (in May) to help customers in the defense industry produce high-density metal parts rapidly.

SPEE3D demonstrates 3D printing for US Army

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

<div>
 Alex Therapeutics, a digital health provider, is partnering with Navamedic, a pharmaceutical company from Sweden, to create a companion app specifically designed to manage Parkinson's disease treatment. 
 This application will offer patients who are taking Flexilev, a prescription medication for Parkinson's, assistance in managing their medication. This will augment the function of the OraFID dose dispenser, creating a unique combination to promote adherence to personalized treatment schedules. With its initial launch in Sweden, Norway, and Denmark planned within the next year, there are also plans for this app to be expanded globally in future.

</div> Analyst QuickTake: 
 In <a href="https: 
//www.prnewswire.com/news-releases/pfizer-and-alex-therapeutics-announce-a-strategic-commercial-partnership-to-provide-evidence-based-digital-therapeutics-to-patients-starting-in-germany-301471350.html"> January 2022 </a> , the company partnered with Pfizer to develop a digital therapeutics (DTx) app to treat nicotine addiction. The company had also partnered with Vicore Pharma to develop a DTx for treating anxiety and depression in patients with idiopathic pulmonary fibrosis.

Alex Therapeutics partners with Navamedic to develop Parkinson's disease companion app

Disrupting the traditional financial system using blockchain

Decentralized Finance (DeFi)

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 The DeFi infrastructure provider, INFINIT, has successfully procured USD 6 million in a funding event. This round of funding was spearheaded by Electric Capital and Mirana Ventures, with contributions from other entities such as Hashed, Lightspeed Faction, Robot Ventures among others.

 INFINIT provides a unique DeFi abstraction layer to facilitate the creation and expansion of decentralized applications across unified blockchain networks. This layer allows users to create a variety of DeFi applications, such as decentralized exchanges, yield protocols, and perpetual platforms. It also simplifies the development process by removing the need to code in intricate languages like Solidity or Rust. Instead, users can utilize TypeScript to add new features to existing applications or even create brand new applications.

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INFINIT raises USD 6 million in funding to enhance infrastructure

Automation to improve business efficiency

Workflow Automation Platforms

INCUMBENTS_PRESENT

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 Salesforce announced the introduction of Agentforce, a range of automated solutions powered by artificial intelligence. These solutions are intended to facilitate automation across various domains such as service, sales, commerce, and marketing.
 The platform is built on Salesforce's existing platform and utilizes the recently developed Data Cloud. This technology unifies customer data and metadata in real-time. Included in this suite are ready-to-use agents for assorted roles like sales development, service, marketing campaign optimization, and an Agent Builder which allows users to create their own agents.
 The platform is user-friendly, enabling users to define topics, create natural language instructions, build an action library using low-code tools, and customize the AI to meet their unique requirements without needing advanced technical skills. Additionally, Agentforce plans to feature a broad partner network of prominent companies including AWS, Google, Honeywell, IBM, Workday, Zoom, Coupa, and Box. These partners have developed over 20 agents and agent actions that will be available on the Salesforce’s AppExchange marketplace.&nbsp;
 
</div> Analyst QuickTake: 
 This launch has entered Salesforce into the Gen AI-powered agent-building space, which has seen rapid growth in popularity over the last few months. It joins some leading automation players as well as similar incumbents, which have made recent strides via new product launches. This includes 1) <a href="https: 
//sp-edge.com/companies/256440"> Pipefy </a> , which <a href="https: 
//sp-edge.com/updates/32584"> launched an AI agent solution </a> to enhance service delivery; 2) <a href="https: 
//sp-edge.com/companies/60912"> Automation Anywhere </a> , which <a href="https: 
//sp-edge.com/updates/30479"> launched an AI studio </a> for users to create and manage custom AI Agents; and 3) <a href="https: 
//sp-edge.com/companies/6554"> Zendesk </a> , which <a href="https: 
//sp-edge.com/updates/28594"> launched an AI agent solution </a> for customer service automation.

All Updates

Citroniq Chemicals raises USD 12 million in Series A funding for manufacturing facility

6K Additive awarded project to develop C-103 powder for additive manufacturing

WAAM3D partners with Innovative Space Carrier, Cranfield University, and Aichi Sangyo for space transport development

Akselos introduces software for FPSO monitoring

OpenAI launches o1, a self-fact-checking AI model

Apptile raises USD 1.2 million in seed funding to develop platform

OpenAI launches o1, a self-fact-checking AI model

SPEE3D demonstrates 3D printing for US Army

Alex Therapeutics partners with Navamedic to develop Parkinson's disease companion app

INFINIT raises USD 6 million in funding to enhance infrastructure

Salesforce announces suite of AI-powered autonomous agent solutions

Carbon Capture, Utilization & Storage (CCUS)

Citroniq Chemicals raises USD 12 million in Series A funding for manufacturing facility

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