Jun 24, 2022 | Business
Mitsubishi Heavy Industries, Ltd. (MHI) announced today that it has invested in Electric Hydrogen (EH2), a clean hydrogen startup headquartered in Natick, Massachusetts, to support its efforts in developing cost-competitive, fossil-free hydrogen. Through this investment, MHI aims to strengthen and diversify its hydrogen value chain, advance its energy transition business, and act on its commitment toward global carbon neutrality goals. The investment has been executed through Mitsubishi Heavy Industries America, Inc. (MHIA), which joins a consortium of investors including Breakthrough Energy Ventures, Equinor, Amazon, Honeywell, and Rio Tinto.
“No single company can provide needed technology to achieve global decarbonization, which is why we recognize the importance of investing in and enabling companies like Electric Hydrogen to develop new solutions,” said Takajiro Ishikawa, President and CEO of MHIA.
EH2’s patented approach to electrolysis – the process of producing hydrogen from electricity and water – is specially designed for the high-volume, low-cost production required to support massive industrial operations, which could significantly improve the levelized cost of hydrogen.
This investment will support the scale-up of EH2’s high electrolyzer technology and its use in the manufacturing, and deployment of pilot projects to produce fossil-free hydrogen (also known as “green hydrogen”) at large scale for industrial and infrastructure applications.
Industries not amenable to electrification, such as steel, fertilizer and intercontinental energy transport, account for more than a third of the world’s total greenhouse gas emissions, according to EH2. Hydrogen, when produced in places with abundant and clean electricity, is a promising pathway for decarbonizing these industries.
MHI is working to build a hydrogen value chain through its proprietary technologies, plus investment and collaboration with companies such as EH2.
About Electric Hydrogen
Electric Hydrogen (EH2) is a deep decarbonization company pioneering new technology for low-cost, high-efficiency, fossil-free hydrogen systems. Focusing on industrial applications of hydrogen in steel, ammonia and freight transport, EH2’s goal is to help eliminate more than 30% of global GHG emissions from hard-to-electrify industries. Their leadership team has revolutionized other clean energy sectors at Tesla and First Solar and they are backed by world-class climate tech investors like Breakthrough Energy Ventures, Prelude Ventures, Capricorn Investment Group, Energy Impact Partners, Fifth Wall Climate Tech and S2G Ventures. The company also benefits from partnerships with strategic investors that are leaders in their target sectors, including Amazon Decarbonization Fund, Cosan, Equinor, Honeywell, Mitsubishi Heavy Industries and Rio Tinto.
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.
Copyright ©2022 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Apr 14, 2022 | Business
Kahoa has invested in VUE Corp., the alternative finance solution for the wedding event industry. This VUE Corp. series A round is led by Kahoa, whose goal is to invest in Silicon Slopes technology innovation. Financial terms are undisclosed.
Kahoa will become a full investor in VUE Corp. and will not only invest capital but the time and talents of their expert employees. Through this, Kahoa will give their employees the option to hold equity in VUE Corp., as well as other Silicon Slopes ventures in the future.
This undertaking is a collaboration between two local silicon slopes businesses that will allow their communities to grow together. As Kahoa employees invest their innovative skillset to build real value in VUE Corp. and the wedding industry community, they will build equity value for themselves. Kahoa tech innovation and development investments will enable VUE Corp.’s scale.
This partnership represents the strength and values of Utah and Silicon Slopes: industry, innovation, and tech development. These communities—technology and event planning—will work together to build sustainable equity value. This is the focus of VUE Corp., to support the event industry ecosystem, and this is made possible by the exciting partnership with Kahoa.
Kahoa (kahoa.com) was founded in 1996 with the simple goal of creating great software on time and on budget. They are a custom software development company with core values of client satisfaction, visible results, excellent communication, and amazing technical depth. The company—based in Lehi, Utah—serves midsize to enterprise clients with critical technology applications.
Jason Thelin is the founder of Kahoa, an entrepreneur, community leader, and technology mentor. He also has been a key element in a number of startups over the last decade.
VUE Corp. (vuexo.com) is a national event industry alternative finance innovator that partners with event venues and vendors. Partners are provided with exclusive consumer payment plans they offer to their event clients to make weddings and event purchases more approachable by reducing financial stress. These VUE Corp. custom event memberships are extended term monthly payment plans. VUE Corp. benefits its small business partners by strengthening sales, customer relationships, and cash flow. They remove financial burdens for all parties.
Jill Dempsey, CEO & Founder of VUE Corp., is innovating the ecosystem of the global event industry. She enacts this through supporting women entrepreneurs and consumers. Jill is a serial entrepreneur and private equity investor, board member, mentor and philanthropist with over 15 years experience leading multi-sector innovative start-up and mid-market growth companies, investments, acquisitions, harvests, and exits to private and public acquirers of over $250 million in multiple executive roles including CEO, CFO, and COO.
Mar 9, 2022 | International
The Government of Canada is continuing its support for businesses and organizations as they adapt, grow and recover from the COVID-19 pandemic. New investments by the Government of Canada are helping to build a strong foundation for the workforce of today and into the future.
The funding will support an inclusive recovery, enhance competitiveness and create jobs across the territory
March 8, 2022 – Whitehorse, Yukon – Canadian Northern Economic Development Agency
The Government of Canada is continuing its support for businesses and organizations as they adapt, grow and recover from the COVID-19 pandemic. New investments by the Government of Canada are helping to build a strong foundation for the workforce of today and into the future.
The Minister of Northern Affairs, Minister responsible for the Canadian Northern Economic Development Agency (CanNor) and Minister responsible for Prairies Economic Development Canada (PrairiesCan), the Honourable Daniel Vandal, and Member of Parliament for Yukon, Dr. Brendan Hanley, announced that the Government of Canada is investing $3.6M in projects across the Yukon to support businesses, create jobs, and grow Yukon’s economy.
This funding, delivered by CanNor, supports two regional initiatives led by First Nations economic development organizations across the Yukon. While each project is unique, they both help communities and Northerners build opportunities for economic growth by fostering an inclusive recovery, enhancing competitiveness and creating jobs across the territory. Through this investment, these organizations will create four new full-time jobs, and maintain or expand eighteen existing jobs. They will also create opportunities for pre-employment training as well as enhance the competitiveness of local providers in the region.
Today’s announcement demonstrates the Government of Canada’s commitment to long-term sustainable economic development across the Yukon. Initiatives such as these support a stable path forward from the impacts of the COVID-19 pandemic.
“These investments demonstrate CanNor’s ongoing commitment to reconciliation with Indigenous Peoples, help strengthen the Northern workforce, and build strong and resilient communities. As Yukon recovers from the COVID-19 pandemic, our government will continue to be there to support the vital role of community businesses and organizations in growing the economy and creating quality, well-paid jobs for Yukoners.”
The Honourable Daniel Vandal, Minister of Northern Affairs, Minister responsible for Prairies Economic Development Canada and Minister responsible for the Canadian Northern Economic Development Agency
“Yukoners support each other, especially during difficult times. These two projects supporting initiatives led by Indigenous economic development agencies reflect that. By creating jobs, expanding operations and building opportunities for skills development, we are working together towards inclusive and sustainable recovery and growth.”
Dr. Brendan Hanley, Member of Parliament for Yukon
“It is important that as we recover from the pandemic we make investments in our communities that will support job growth and support our local economy. Thank you to the Government of Canada for this generous contribution from CanNor that will contribute to a stronger economy in the Yukon and ensure that no Yukoner, particularly those living in rural areas, is left behind.”
Ranj Pillai, Yukon Minister of Economic Development
“The support from CanNor for Kluane Community Development Limited Partnership (KCDLP) and Creating Economic Resilience means we can advance the economic opportunities in the Kluane First Nation (KFN) Traditional Territory and in turn provide opportunities for KFN citizens, KFN owned business and improve economic outcome for the territory as a whole.”
Tosh Southwick, Chair of KCDLP
“The team at Chief Isaac Mechanical are proud of the quality of their work and customer service. CanNor’s $1.5m vote of confidence in them is a huge boost. This allows us to expand our services for heavy and light duty customers and grow our team of professional technicians. As a 100% First Nation owned business, all our profits go back to the local community and CanNor’s investment increases our ability and capacity to do that.”
Frances Aitken, Industrial Manager, Chief Isaac Group of Companies
Kyle Allen
Press Secretary
Office of the Minister of Northern Affairs, Minister Responsible for Prairies Economic Development Canada, and Minister Responsible for the Canadian Northern Economic Development Agency
819-953-1153
Feb 23, 2022 | Business
Based on Whole Genome Sequencing (WGS), Arcensus GmbH makes it possible to detect rare as well as frequent disorders such as cancer or heart diseases at the earliest stage in order to start preventive and personalized treatment.
One year after Arcensus was founded, fresh capital is now being raised for further expansion. As part of the current investment-series the Mittelstandische Beteiligungsgesellschaft Mecklenburg-Vorpommern (MBMV) are investing a single-digit million to further expand into the US and GCC regions.
For MBMV, it is a very special investment, as Managing Director Dr. Thomas Drews reveals: “With Arcensus, we are investing in a very experienced and well-known team and in a technology which, in precisely this combination, has the potential to make a major contribution to the prevention of diseases and the cure of rare diseases”.
He continues: “In addition, we are proud that a local company from Rostock is able to play as a figurehead at the top of the international biotech scene.”
Indeed, the team around Prof. Dr. Arndt Rolfs is no stranger to the bio-tech scene. Prof. Dr. Arndt Rolfs, a neurologist, has already taken his rare-disease company CENTOGENE, founded in 2006, public in 2019, in which MBMV was also invested.
At Arcensus Prof. Rolfs and his international team want to use the accumulated experiences in the field of the WGS technology in combination with a clear focus on the game-changing artificial intelligence (AI) based deep interpretation of DNA information to enable customers to get the best insight in preventable diseases.
Prof. Rolfs commented on the investment as follows: “With MBMV we are extremely happy to have a well-known partner and extremely trustful partner at our side who shares our vision: Empowering people with genomics and medical insights to understand and improve their health to achieve a great and lasting quality of life and save lives”.
About Arcensus
Arcensus is a digital healthcare and diagnostics company that empowers people to take control of their health. The company provides a highest-standard, secure, trusted, and comprehensive medical service based on Whole Genome Sequencing. Arcensus analyses the complete genetic information in human DNA and identifies the predispositions as well as reasons for unclear symptoms with the help of cutting-edge technology including artificial intelligence. The detailed medical report suggests better treatment options and helps individuals take preventive measures to live a healthier and longer life. From our offices in New Jersey – United States, Rostock and Berlin – Germany, a cross-functional team of genetic experts, medical doctors, and data scientists works to make the most sophisticated and best genetic interpretation with medical and health prevention applications accessible to everyone. For more information, visit https://arcensus-diagnostics.com/.
About Mittelstandische Beteiligungsgesellschaft Mecklenburg-Vorpommern (MBMV)
Mittelstandische Beteiligungsgesellschaft Mecklenburg-Vorpommern mbH supports the promotion of regional SMEs by providing capital for the implementation of economic projects. It helps small and medium-sized enterprises in the region to stabilize or expand their market position. In particular, innovative companies with a supra-regional or international focus benefit from the flexible financing offer. For more information, visit: https://www.mbm-v.de/beteiligung/
Jan 21, 2022 | Business
Honda Motor Co., Ltd. today announced that, in December 2021, the company invested in U.S. (California)-based Helm.ai to strengthen its software technology development in the areas of artificial intelligence (AI) and computer vision(1) technologies. Helm.ai has key strengths in the area of AI-based image recognition technologies advanced through unsupervised learning(2).
Helm.ai is an AI software startup established in November 2016, and Honda and Helm.ai have been working in collaboration since 2019 through Honda Xcelerator(3), a global open innovation program of Honda. Honda invested in Helm.ai to strengthen value creation in the efforts to make mobility products more intelligent and to generate greater achievements more quickly. The financing will further strengthen the relationship between the two companies and accelerate development of original solutions for Honda that combine Honda technologies and AI technologies of Helm.ai.
Honda will continue offering highly-competitive and highly-attractive products and services to its customers by establishing relationships through the Honda Xcelerator program with companies which have cutting-edge technologies in various areas.
(1) Technology to recognize specific elements from computer-based visual information and provide necessary information based on the results of such recognition.
(2) Unsupervised learning is one of the methods of machine learning, which supports AI. Unlike supervised learning through which AI learns the correct answers to derive from labeled input data, unsupervised learning lets AI learn without being provided with the correct answers and derives the patterns and unique characteristics of the unlabeled data on its own.
(3) Honda Xcelerator is a global open innovation program designed to facilitate collaboration between startups and Honda. The program is led by Honda Innovations Inc., a subsidiary of Honda Motor Co., Ltd. based in Silicon Valley in the U.S.
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