<div>
  <ul>
    <li>
      <p>
        Climeworks, a Swiss direct air capture (DAC) startup, has begun operations at Orca, the world&rsquo;s largest direct air capture and storage plant, to permanently remove carbon dioxide from ambient air.&nbsp;&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Iceland-based Orca will capture 4,000 metric tons of carbon dioxide annually and will increase the global DAC capacity by more than 40%. Out of the 16 installations Climeworks has deployed across Europe, Orca is the only facility that permanently removes carbon dioxide as opposed to recycling it.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        The plant consists of eight large containers each fitted with high-tech filters and fans to extract carbon dioxide and store it underground permanently using Carbfix&rsquo;s natural mineralization process&mdash;Climeworks&rsquo; carbon sequestration partner for the project.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        Climeworks has also rumored to have started design work on a much larger facility, nearly 10 times the size of Orca, and intends to complete this project in the next few years.&nbsp;
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;
    <b>Analyst QuickTake: </b>
    The Orca facility will increase Climeworks&rsquo; carbon capture capacity to around 7,000 metric tons per year, solidifying its position as the largest DAC operator in the world. Climeworks is also currently the only commercialized DAC solution having launched carbon removals since 2019 and has attracted more than 8,000 individual and business customers to date. That being said, the DAC pipeline over the next few years includes two proposed one-megaton facilities each by Carbon Engineering, expected to begin construction in 2022 in the US, and Storegga, 
    <a href="https://sp-edge.com/sectors/sustainability/updates/3489">
      expected to begin engineering in 2022 in Scotland
    </a>
    , which could dwarf Climeworks&rsquo; currently commanding position.&lt;/ul&gt;&nbsp;
  </p>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://climeworks.com/news/climeworks-launches-orca">
      Press release
    </a>
  </p>
  <p>
    <a href="https://www.reuters.com/business/environment/worlds-largest-plant-capturing-carbon-air-starts-iceland-2021-09-08/">
      Reuters
    </a>
  </p>
  <p>
    <a href="https://qz.com/2055951/climeworks-is-opening-the-worlds-biggest-carbon-removal-machine/">
      Quartz
    </a>
  </p>
  <p>
    <a href="https://www.ft.com/content/8a942e30-0428-4567-8a6c-dc704ba3460a">
      Financial Times
    </a>
  </p>
</div>


Alternative Energy

Climeworks launches the world’s largest direct air capture plant

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

PROMINENT_CATEGORY

<div>
 
 <p>Solodev, a developer-focused cloud platform integrating CMS products, has introduced Solodev AI, a new feature that enables the design, training, and hosting of AI-based apps and models from a single point.</p>
 <p>The main features of Solodev AI encompass search and chat functionalities, customizable apps obtainable through the AI marketplace, secure hosting of existing AI apps using the AWS-powered cloud, and support for multiple top-notch language models such as GPT-4, OpenLLaMA, and Amazon Titan.</p>
 <p>According to Solodev, the benefits of the newly launched AI platform consist of scalability, top-notch security, and cost-effectiveness for rolling out custom AI-oriented applications.</p>
 
</div> <p>Analyst <b>QuickTake:<br>
 </b> The launch of Solodev AI seems to be the latest addition to Solodevs’ journey of using AI automation on a large scale. In a prior <a href="https:<br>
//www.solodev.com/aws/"> collaboration </a> with AWS, Solodev utilized several specialized services from the Amazon AI/ML stack, including a cloud-based recommendation engine.</p>

Solodev launches Solodev AI, a cloud platform for custom AI apps

Providing a seamless consumer experience is one hope for bringing back brick and mortar retail, automated stores are being built to do just that.

Automated Stores

ANALYST_QUICK_TAKE

<div>
 <p>AiFi, a Californian tech company specializing in automated retail, has joined forces with Acrisure Arena, a sports and entertainment facility, to implement two AI-fueled 'grab-and-go' concession stands. These stands will offer soft drinks, water, beers and pizza to customers.</p>
 <p>To use the stands, customers will be asked to pre-authorize a $25 card payment before entry. If a customer's transaction total is less than $25, they will be reimbursed within a 3-5 day timeframe. Staff will be present to oversee the process and to confirm alcohol purchases.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Sports and entertainment venues are increasingly adopting the grab-and-go store format. As of September 2023, AiFi’s competitor <a href="https:<br>
//sp-edge.com/companies/673529"> Zippin </a> had 71 stores at stadiums and as of April 2024, <a href="https:<br>
//stadiumtechreport.com/editorial/checkout-free-stores-are-doing-well-in-stadiums-anyway/#:<br>
~:<br>
text=(Stadium%20Tech%20Report%20narrator%3A%20Amazon,stadium%20Just%20Walk%20Out%20stores.)"> Amazon </a> ’s Just Walk Out technology powered 73 stadium-based stores.&nbsp;</p>

AiFi partners with Acrisure Arena to launch grab-and-go concession stands

Novel therapies to reboot cells and organs

Cell & Gene Therapy

<div>
 
 <p>Latus Bio Inc., a gene therapy company, has raised USD 54 million in a Series A funding round. The round was led by 8VC and DCVC Bio, and saw participation from the Samsung Life Science Fund and several other undisclosed investors. Samsung Life Science Fund is supported by Samsung Biologics Co., Samsung Bioepis Co., and Samsung C&amp;T Corp.</p>
 <p>The funding will be used by Latus Bio to accelerate the development of their gene therapies for CLN2 disease and Huntington’s disease. By 2025, the company aims to initiate human trials for the therapy designed for CLN2 disease.</p>
 <p>Based in Philadelphia, Latus Bio creates gene therapy solutions for central nervous system (CNS) disorders. The company uses advanced adeno-associated virus (AAV) capsids to increase the accuracy and effectiveness of gene delivery, addressing common challenges associated with traditional gene therapies such as limited potency, off-target effects, and scalability issues. The company's platform involves a high-throughput screening process for millions of novel capsid variants, enabling them to identify those with the best tissue and cellular targeting capabilities, thus reducing potential immunogenicity and toxicity.</p>
 
</div>

Latus Bio Inc. raises USD 54 million in Series A funding

Making meat sustainable over the long term.

Cell-cultured Meat

<div>
 <p>Israeli cultivated meat company, Aleph Farms, has collaborated with AI insights platform BioRaptor to optimize production costs and processes. This initiative involves incorporating advanced AI and machine learning tools into Aleph Farms' R&amp;D division. The tools will enable real-time data collection and analysis to refine processes before major infrastructure investments. This integration is expected to enhance process evaluation, forecasting, and scaling up, leading to cost reductions.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> In January this year, Aleph Farms became the only cultivated meat producer to receive <a href="https:<br>
//sp-edge.com/updates/25648"> approval </a> for a cell-cultured beef product. This partnership comes at a crucial time as the company gears up for its first commercial launch and geographic expansion. In line with its expansion plans, the company recently <a href="https:<br>
//sp-edge.com/updates/26828"> partnered </a> with BBGI and Fermbox Bio to build Thailand's first production plant for cellular agriculture applications.</p>

Aleph Farms partners with BioRaptor to optimize cultivated meat production using AI

A new wave of meat, fish, and poultry alternatives are driving this hyper-growth industry into the mainstream.

Plant-based Meat

<div>
 <p>Canadian startup Save da Sea, which produces plant-based seafood alternatives, has secured CAD 650,000 (~USD 474,932) in seed funding. Investors include Thrive Lab, a new venture of the Business Development Bank of Canada, Spring, What If Ventures, and YSpace from York University.</p>
 <p>This investment will be used to drive the company's push into the US market and to expand its team.</p>
 <p>Established in 2019, Save da Sea's product range includes a carrot-based smoked salmon substitute and tuna salad made from jackfruit. Initially found in 500 Canadian retail stores, the company recently made its debut in the US market.</p>
</div>

Save da Sea raises CAD 650,000 in seed funding to increase US distribution

<div>
 <p>Oshi, an Israeli plant-based seafood company, will showcase the latest iteration of its plant-based salmon fillet at the impending National Restaurant Association (NRA) Show in Chicago. The company has managed to gain nationwide distribution in the US for this vegetarian salmon substitute via several restaurant supply firms.</p>
 <p>Oshi's plant-based salmon fillet uses a patented module layering technology that replicates the muscle tissue's fibrous structure. This product launch represents a considerable milestone in the firm's US growth, commenced in mid-2023.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> After the company rebranded, it announced its US expansion plans in <a href="https:<br>
//sp-edge.com/updates/19305"> June 2023 </a> and collaborated with chefs and restaurants to optimize its offerings. It launched its first products for the US market in <a href="https:<br>
//sp-edge.com/updates/23174"> October 2023 </a> at the New York City-based vegan Italian restaurant Coletta.</p>

Oshi to unveil updated plant-based salmon fillet at NRA Show in Chicago

Building future-ready applications in the cloud

Cloud-native Tech

<div>
 
 <p>Investment company EQT has acquired WSO2, a firm known for its API management and identity and access management services. The deal, which valued WSO2 at over USD 600 million, sees EQT obtaining a majority stake and is set to conclude in the second half of 2024.</p>
 <p>WSO2's product offerings include an open-source API manager that aids in the construction and integration of digital services, whether cloud-based or on-site. Additionally, it provides API management for Kubernetes and a prominent Identity Server utilized by businesses for managing identity and access functionalities in their applications.</p>
 <p>EQT aims to take advantage of WSO2's global customer base and strong security infrastructure, underpinned by cloud computing and AI, after the acquisition. EQT maintains that WSO2 is in a prime position to benefit from enduring trends like digital transformation and the increase in GenAI adoption.</p>
 
</div>

EQT acquires API and identity management software company WSO2

Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

<div>
 <p>At the RSA Conference 2024, Panorays plans to unveil its newest creative development comprised of advanced capabilities aimed at aiding corporations with their supply chain and third-party relationships management. This initiative is marked by the incorporation of Artificial Intelligence (AI) technology into its platform.</p>
 <p>The enhancements brought about by AI integration include AI supplier identification, comprehensive mapping of third parties centered around relative risks and significant considerations and the provision of AI questionnaire templates for transparent governance. Moreover, the platform will also be capable of identifying potential dangers tied to the use of privileged AI models, thereby ensuring a secure and responsible co-opting of AI technologies.</p>
 <p>Through these upgraded features, this firm seeks to exploit AI technology strategically for anticipatory threat intelligence. This initiative is also intended to mitigate the likelihood of supply chain cyber attacks and simplify third-party cyber risk management procedures. This is achievable by promoting responsible and confidential AI usage in third-party cyber risk management.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The increase of digitalization in organizations has led to increased cyber security threats across supply chains. Startups focusing on third-party risk management have introduced new solutions to combat these threats. In January 2024, SecurityScorecard <a href="https:<br>
//sp-edge.com/updates/25973"> launched </a> a new managed service named "SecurityScorecard MAX," which aims to help organizations effectively identify, prioritize, and address vulnerabilities throughout their third-party and extended supply chain ecosystem.</p>

Panorays unveils AI-driven platform for third-party cyber risk management

Bringing the benefits of blockchain to the enterprise

Enterprise Blockchain Solutions

INCUMBENTS_PRESENT

<div>
 <p>Vodafone has declared its intention to implement SIM card technology for enabling cryptocurrency transactions on mobile devices.</p>
 <p>They aim to utilize the inherent cryptographic functions present in SIM cards for the integration with blockchain.</p> 
</div>

Vodafone to use SIM cards for crypto transactions on mobile phones

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 <p>Luminar Technologies, a producer of Light Detection and Ranging (LiDAR) sensors, has announced it will lay off approximately 140 employees, equating to 20% of its current workforce. This decision is part of a wider restructuring plan intended to establish an 'asset-light' business model and increase production. The bulk of those facing layoffs are contract workers.</p>
 <p>The restructure is designed to create a more streamlined business, with plans to trim annual costs by between $50 million and $65 million and allow for faster product launches.</p>
 <p>While it is planning to lower its physical footprint by sub-leasing some facilities, Luminar will continue to maintain its Florida facility as a hub for Research and Development. The company also plans to deepen its ties with Taiwanese manufacturer, TPK Holding.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Even though autonomous vehicles and ADAS are considered promising areas of growth for LiDAR, since these technologies are still in the development stages, they may not generate much revenue for LiDAR companies in the near term. Luminar, along with peer LiDAR companies such as <a href="https:<br>
//sp-edge.com/updates/26155"> Innoviz Technologies </a> and <a href="https:<br>
//sp-edge.com/updates/19625"> Ouster </a> , also cut their workforces to restructure operations for a better financial position.</p>

All Updates