MHI Completed manufacturing of Three Replacement Steam Generators for EDF’s Nuclear Power Plant

Mitsubishi Heavy Industries, Ltd. (MHI) held a ceremony for shop manufacturing completion of three replacement steam generators for Électricité de France S.A. (EDF)’s Nuclear Power Plant in France at MHI’s Kobe facilities on the 19th. MHI has been ordered a total of 9 replacement steam generators from EDF. MHI is going to manufacture remaining 6 steam generators.

EDF selected the supplier for the replacement steam generators (for the 900 MWe pressurized water reactor (PWR) nuclear power plant) through an international bidding process, with MHI receiving the order jointly with Onet Technologies (Onet) (Note1).They are approximately 21 meters in height and 330 tons in weight and made of low-alloy steel (Note2). Each steam generator contains more than 4,500 heat transfer tubes made from TT690 alloy material (Note3). Steam generators are one of the most important components of a PWR, transferring the thermal energy generated in the reactor vessel from the primary (reactor) cooling system to the secondary (turbine) cooling system, using steam to drive the turbine. Steam generator is a large component that requires notably safety and reliability and that requires high machining accuracy in the order of 0.01mm. Therefore, manufacturing of steam generator requires quite high capability of design and manufacturing.

MHI has been working on business of nuclear equipment in nuclear power markets worldwide and has supplied a total of 31 replacement steam generators to several countries, France, Belgium and the U.S, 15 units out of 31 units were for EDF. Headquartered in Paris, EDF is one of the world’s largest electricity suppliers, operating 56 PWRs in France. Considering operation extension over 40 years along with French government policy, the company is currently replacing the existing steam generators at its PWR plants that started operations in the 1980s.

From the point of view of carbon neutrality and energy security, there has been a rise in demand for utilization of nuclear power around the world. MHI will continue to contribute to the safety and reliability of nuclear power around the world by delivering high-quality products to global nuclear markets such as France. Through the manufacture of replacement steam generators, MHI will pass on to the next generation the technological expertise accumulated as a nuclear power plant supplier.

(1) Onet is headquartered in Marseille, and provides specialized after-sales service and maintenance for nuclear power plant facilities. MHI has been collaborating with Onet since 2002.
(2) Low-alloy steel is steel with not more than 5% alloying element. Steam generators are pressure resistant vessels made with strong low-alloy steel (manganese, molybdenum, and nickel steel).
(3) TT690 is a state-of-the-art nickel, chromium, and iron alloy, specially heat-treated for enhanced corrosion resistance. It is the main material in the steam generator’s heat transfer tubes, offering superior corrosion resistance under high temperatures and pressures.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.


Topic: Press release summary

Cork Distributors Has Completed the Acquisition of Encore Beverage

 Cork Distributors has announced the completion of its acquisition of Encore Beverage in Northern Nevada. This acquisition marks a significant milestone for Cork Distributors, as it will enable them to expand their presence in Northern Nevada and provide better distribution across the state. The addition of Encore Beverage’s unique selection of hand-crafted wine, beer, and spirits will also enhance Cork Distributors’ product portfolio, providing customers with even more great options to choose from.

Encore Beverage was founded in 2007 by Mark Baldwin, an industry veteran with decades of experience running a wine shop and restaurant. He established Encore Beverage as a local, family-owned, and operated business with a mission to serve their customers and exceed their expectations. Over the years, the company has cultivated strong relationships with customers in Northern Nevada, earning a reputation for their expertly curated wine portfolio and exceptional service.

With the acquisition of Encore Beverage, Cork Distributors gains a solid distribution platform in Northern Nevada, allowing for better points of distribution and increased market reach. Encore Beverage will continue to operate under the same name, and Mark Baldwin has become a partner in Cork Distributors Holdings. This partnership allows Cork Distributors to benefit from the synergies created by bringing together two well-respected companies in the industry.

Cork Distributors’ customers will also benefit from the acquisition through access to Encore Beverage’s world-class selection of hand-crafted wine, beer, and spirits. The addition of Encore’s portfolio to Cork’s existing offerings creates an unrivaled product portfolio in the state of Nevada, providing customers with even more variety and choice. With both companies’ shared commitment to exceptional customer service, the acquisition promises to enhance the overall customer experience for Cork’s customers.

In addition to providing better distribution and a broader product portfolio, the acquisition of Encore Beverage reinforces Cork Distributors’ commitment to growth and expansion. Over the years, Cork has established a reputation as one of the leading distributors of wine, beer, and spirits in Nevada, with a focus on providing exceptional service and high-quality products. The addition of Encore Beverage’s expertise and resources will only strengthen Cork’s position in the market and enable them to better serve their customers.

The acquisition of Encore Beverage is a significant development for Cork Distributors and their customers. Through this partnership, Cork gains a solid distribution platform in Northern Nevada, access to a unique and world-class portfolio of wine, beer, and spirits, and the resources to continue its growth and expansion. Meanwhile, customers will benefit from even more great products and exceptional service. It’s an exciting time for Cork Distributors as they look to build on their reputation and solidify their position as a leading distributor of wine, beer, and spirits in the region.

Cork Distributors
Richard Cox
702-485-3894
https://www.cork-distributors.com/

ContactContact

Categories

  • Beer & Spirits
  • Business
  • Food & Beverage
  • Mergers & Acquisitions

HG Semiconductor Completed Placing of 14,346,000 Shares

HG Semiconductor Limited (“HG Semiconductor”, together with its subsidiaries, “the Group”, Stock Code: 6908.HK) is pleased to announce that the Group fulfilled and completed the placing agreement took place on 1 December 2021. An aggregate of 14,346,000 placing shares, representing approximately 2.55% of the issued share capital of the Group, have been successfully placed to not less than six placees at the placing price of HK$6.20 per placing share.

The net proceeds from the placing, after deduction of the professional fee and other related expenses, amounted to approximately HK$86.2 million. The Group intends to apply approximately HK$64.3 million for strengthening its research and development (“R&D”) capabilities of LED, Mini LED, fast charging, gallium nitride (“GaN”) devices and related semiconductor products. Such amount of net proceeds will be used for the set-up of R&D centres, recruitment of R&D professionals, as well as procurement of equipment and materials with an aim to develop and capture patent and technology. Meanwhile, approximately HK$21.9 million will be used for providing general working capital and improving the financial position of the Group.

Leveraging its industrial expertise on semiconductor manufacturing, HG Semiconductor has been expanding its business to various kinds of semiconductors including GaN related products. In view of its long-term strategy in further developing its business in the GaN semiconductor industry, HG Semiconductor is pleased to announce that it is setting up a new factory in the Xuzhou Economic and Technological Development Zone, which comprises 7,000 square metres of ultra clean chambers and 850 square metres of office area (“Xuzhou Factory”). It is contemplated that a production line for manufacturing electronic products including GaN related products will be installed in the factory, the facilities of which will be further upgraded to full automation in the future.

The management of the Group is also delighted to introduce the experienced and professional core members of its Technology and Manufacturing team. Among them, Dr. CHEN Zhen (“Dr. CHEN”), the core expert in the GaN semiconductor business and the General Manager of the Xuzhou Factory, has over 20 years of experience in R&D, production and management in the field of GaN-based optoelectronics devices. He has mastered the core technologies of GaN electronic devices and full-band solid-state light-emitting devices as well as proprietary technology of 8-inch silicon-based GaN epitaxial growth. Dr. CHEN has applied for more than 30 domestic and foreign patents, and served as a reviewer for more than 10 international journals. Moreover, Mr. LU Juilin (“Mr. LU”), the Operation Deputy General Manager of the Xuzhou Factory, has over 30 years of experience in semiconductor industry and foundry technology and management, with experience in managing 8 to 12-inch fab management and technical experience and 55nm to 0.5um chip manufacturing process factory management experience. He is also experienced in building new factories and he worked as the Factory Manager of Semiconductor Manufacturing International Corporation (“SMIC”; stock code: 0981.HK) and Hua Hong Semiconductor Limited (“HHS”; stock code: 1347.HK).

Dr. CHANG Ru Gin (“Dr. CHANG”), known as the “Father of the Chinese Semiconductor”, is the Senior Consultant of the Group. He is also the founder and the former CEO of SMIC. Dr. CHANG is one of the leading figures of the semiconductor industry and an industry leader of the PRC semiconductor market. Dr. Thomas HU (“Dr. HU”), the Research Deputy General Manager of the Xuzhou Factory, has more than 20 years of work experience in GaN device design and fabrication in the world’s leading company, and was the key member in GaN HEMT device design and fabrication. Dr. HU is experienced in semiconductor process control, fab operation and management and is in charge of new process recipe development, process optimisation, new product development, product quality control and yield improvement for GaN HEMT devices and products. It is expected that the core members of the Technology and Manufacturing team will substantially enhance the R&D capabilities of the Group, which will be beneficial to the development of the Group’s business as a whole.

Mr. ZHAO Yiwen, Chairman and Executive Director of HG Semiconductor said, “The Group is excited to announce multiple positive news, in particular, the establishment of our new Xuzhou Factory which sets a new milestone in our development. The strategic investments of the Group in VisIC Technologies and GaN Systems announced earlier on also represent our commitment venturing into the third-generation semiconductor industry, further enhancing our third-generation semiconductor design and manufacturing capabilities. With new appointments of experienced and professional core members of the Technology and Manufacturing team, we strongly believe that the team, who are all world-class seasoned professional in the semiconductor industry, can capitalise on their factory management, project management and technical experience to design and produce leading-edge semiconductor products, thus enabling us to stand out in the highly competitive market. Leveraging our competitive edge in the GaN semiconductor industry, the Group will capture every market opportunity, with an aim of achieving our long-term business goal to become a leading GaN semiconductor company.”

About HG Semiconductor Limited
HG Semiconductor Limited (6908.HK) is principally engaged in semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode (“LED”) beads and a new generation of semiconductor gallium nitride (“GaN”). The Group is committed to accelerating its research and development and expansion in the application of GaN related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.

For more details, please visit www.hg-semiconductor.com






Topic: Press release summary

Nano Labs Completed Another Round of Equity Financing Raising Tens of Millions of US

Nano Labs Ltd, chip designer firm, completed another round of equity financing raising tens of millions of US. This round of financing was led by Yongwan Capital, followed by Hashkey and several other investors.

Nano Labs is committed to provid infrastructure solutions for Metaverse. The company develops high-efficiency memory chips, high-performance computing chips, and distributed computing solutions. Those products can be applied to data centers, supercomputing, AI, and other fields. The company verified HBM2D memory technology and developed its unique storage-computing integrated FPU chip architecture in 2019 and successfully mass-produced Cuckoo 1.0 chips in 2020.

Currently, the company continues to evolve and expand, provides high-bandwidth, high-performance dedicated processor chips and solutions for modular computing, core networks, artificial intelligence, high-performance computing, and video encoding and decoding to build a Metaverse ecosystem.

Through this round of financing, Nano Labs hopes to derive new product lines for Metaverse. Under the current trend of rapid evolution from the traditional world to intelligence and digitization, Nano Labs will continue to help Metaverse with its accumulated profound industry insights and professional technical capabilities.

Media Contact
Company: Nano Labs Ltd
Contact: Jason Lee, IR Director
E-mail: jasonlee@nano.cn
Website: http://www.nano.cn