Mitsubishi Heavy Industries, Ltd. (MHI) announced today that it has invested in Advanced Ionics, Inc., a high efficiency, low-temperature water vapor electrolysis technology startup company headquartered in Milwaukee, Wisconsin. The investment has been executed through Mitsubishi Heavy Industries America, Inc. (MHIA), which joins a consortium of investors, including bp. Ventures (bp), Clean Energy Ventures (CEV) and others.
Novel electrolyser in Laboratory of Advanced Ionics
Advanced Ionics is developing a water vapor electrolyzer that utilizes low-temperature water vapor (from 100degC) to produce hydrogen with more than 30% less power consumption than typical water electrolyzers. Since the low-temperature water vapor used can be produced using available industrial heat, it is expected to be used as a highly efficient, locally produced, and locally consumed decarbonization solution in steel, ammonia production, oil refineries, and other plants that have available industrial heat and use hydrogen. It also has the potential for future application in highly efficient hydrogen production using heat and power from nuclear, geothermal and solar thermal power plants.
Mitsubishi Heavy Industries Group is committed to building a business that contributes to realizing a decarbonized society while investing in and collaborating with various partners with innovative technologies. This investment will help Advanced Ionics to accelerate the demonstration for commercialization and accelerate’ the development of future innovative alternative technologies that will lead to the diversification of the hydrogen value chain. Going forward, MHI will continue to enhance and diversify its solutions portfolio, providing its customers with alternative decarbonization technologies to reach their net zero goals.
About bp Ventures
bp Ventures is a venture capital subsidiary of bp p.l.c., a British oil and gas company, and Clean Energy Ventures is a venture capital firm in Boston, U.S., that invests in venture companies working to realize a decarbonized society.
About Advanced Ionics
Advanced Ionics is developing a new type of electrolyzer that utilizes low-temperature steam (100degC~), which does not belong to the existing class of current water electrolyzers (alkaline, etc.). And It is a start-up that has garnered attention and related awards due to the uniqueness of its technology.
For more information, please visit https://advanced-ionics.com/
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.
Optimal Investment Group (OIG) announced today a follow-on investment in Peltbeam Inc.
Peltbeam, based in Newport Beach, CA is a leading innovator in the communications industry, revolutionizing the implementation and usage of 5G millimeter-wave (mmWave) spectrum. Peltbeam’s smart repeaters help unlock the full potential of 5G technology, transforming the way we connect and communicate in the digital age.
Led by CEO Shervin Odabaee and leveraging years of extensive research and development, Peltbeam has pioneered cutting-edge technology that addresses the limitations associated with the implementation and usage of mmWave spectrum. By harnessing the power of advanced signal processing algorithms and intelligent beamforming techniques, Peltbeam’s solution overcomes challenges such as limited range, signal blockage, and interference, which have traditionally hindered the widespread adoption of mmWave technology.
Managing Partner Joey Separzadeh stated, “While OIG typically does not invest in pre-revenue technology companies, the combination of an impressive leadership team, transformative technology and market potential made Peltbeam a special situation investment for us. OIG was the sole investor in the Series A round and decided to remain the only outside investor for the Series B round as well.”
Optimal Investment Group Joey Separzadeh 818-303-1717 www.optimalinvestmentgroup.com
China South City Holdings Limited (the “Company” or the “Group”, SEHK stock code: 1668.HK) is pleased to announce that China South International, a direct wholly-owned subsidiary of the Company, has entered into an investment agreement with Shenzhen Shenji No.1 Industrial Park Investment and Operation Co., Ltd. under Shenzhen SEZ Construction and Development Group Co., Ltd. (“SZCDG”), pursuant to which the latter has agreed to subscribe for 69.35% new shares of “China South City Xi’an” at a cash consideration of RMB5 billion (equivalent to approximately HK$5.58 billion). Upon completion of the transaction, the Group’s shareholding in “China South City Xi’an” will be reduced from 100% to 30.65% and “China South City Xi’an” will cease to be a subsidiary of the Group and the transaction is subject to the approval of the independent shareholders of China South City. RMB2.86 billion of the subscription proceeds from this transaction will be used to repay the Group’s shareholder loans, which will provide additional working capital for the Group, reduce the Group’s gearing ratio and significantly improve its liquidity. The signing of this investment agreement marks another step forward in the cooperation between the Company and SZCDG, and represents SZCDG’s strong support for the Group’s operation and development. the consideration of the transaction approximates the carrying value of the net assets of China South City Xi’an as of 30 September 2022, which fully demonstrates SZCDG’s high recognition of the Group’s asset value and future development.
As disclosed in the announcement of the Company, China South City Xi’an is principally engaged in development and operation of integrated logistics and trade centres, and is located at the Xi’an international trade and logistics park, which is an open economic pilot zone and a core area for modern service industry established with strong support from the Xi’an government. China South City Xi’an has a total planned land area of approximately 10.00 million sq. m. and the total planned GFA of approximately 17.50 million sq. m. As of 30 September 2022, China South City Xi’an has acquired land with a total planned GFA of approximately 4.17 million sq. m. and has completed the construction of approximately 2.41 million sq. m., including a commodity trading centre, a logistics park and other ancillary facilities. In addition, business operation in China South City Xi’an covers various industries, including hardware materials and machinery products, curtains and fabrics, textile and clothing, leather and fur, automobile and motorcycle parts, building and decoration materials, 1668 New Times Square, outlets, crossborder e-commerce, Central Asia and ASEAN product exhibition centre, etc., on its trade centre premises, of which the commercial complex, 1668 New Times Square, was included in Shaanxi Provincial Key Project in 2019 and 2020.
During the year, SZCDG fully leveraged its strategic leadership role as a state-owned enterprise in various aspects to facilitate the Group’s long-term and stable development. Firstly, in terms of senior management appointments, Mr. Li Wenxiong, chairman of SZCDG, was appointed as Co-Chairman and Non-Executive Director of the Group, while Mr. Wan Hongtao and Mr. Qin Wenzhong were appointed as the Group’s Vice president and the Group’s Chief Financial Officer respectively, and were also appointed as executive directors, thereby continuously strengthening the Group’s senior management team. In addition, SZCDG continued to provide financial support to the Company during the year to improve the Company’s operations and improve its liquidity. In May 2022, the subscription by SZCDG was officially completed, whereby the Company issued and allotted 3.35 billion new shares to SZCDG under the special mandate and subscription agreement and received total proceeds of HK$1,909.5 million, significantly improving the Company’s overall capital and financial strength while welcoming a state-owned background. In July 2022, the Group entered into an agreement with SZCDG for the transfer of 50% equity interest in First Asia Pacific Group Company Limited at a consideration of RMB1,257 million; in the same month, SZCDG supported the extension of the terms of five offshore US dollat senior notes of the Company by way of keepwell agreement. In November 2022, subsidiaries of SZCDG have taken the lead in setting up an equity investment fund with a total size of approximately RMB11 billion and coordinated with the Group to work closely with relevant banks to promote the formation of a syndicated loan, thus providing another strong financial support for the Group’s future growth, and the China South City Xi’an transaction is the first step under this plan.
In terms of business, with the investment by SZCDG, the Company has entered into strategic cooperation with seven major enterprises, including a strategic cooperation agreement with Pengcheng Smart Sharing Technology (Shenzhen) Co., Ltd. and Shenzhen Planning Institute under SZCDG. In addition, as recommended by SZCDG, China South City reached a cooperation agreement with Shenzhen International Holdings to effectively revitalize its assets and further strengthen its cash flow by transferring its Qianlong Logistics’ two high-standard logistics and warehousing projects in Zhengzhou and Hefei. By taking a series of proactive measures, China South City reduced its gearing ratio to 63.8% and recorded a net asset value of approximately HK$3.71 per share.
About China South City
China South City Holdings Limited (“China South City”, stock code: 1668.HK) is a leading developer and operator of large-scale integrated logistics and trade centres in China, and has positioned itself to be “world-class integrated trade and logistics centre, digital centre, innovation centre and living centre”.
As an industry leader, China South City insists on serving the nation by promoting the transformation and upgrading of regional economy and new urbanisation, and has developed a diversified and flexible business model with core business formats covering professional wholesale markets, warehousing, logistics and distribution, integrated commercial, e-commerce, convention and exhibition, daily life facilities and integrated property management, etc. It has developed and operated projects in Shenzhen, Nanning, Nanchang, Xi’an, Harbin, Zhengzhou, Hefei and Chongqing. China South City has a core subsidiary, the Business Management Division, as well as various branded professional companies such as Huasheng Commercial, China South City Logistics Group, First Asia Pacific Property Management ( associated company), China South City Micro-credit and Huacaitong Digital Technology.
In 2014, Tencent Holdings Limited invested in China South City, and the two parties used their respective resource advantages to start new exploration of China South City’s business model; in 2022, SZCDG became the single largest shareholder of China South City, bringing the resource advantages of state-owned enterprises to China South City to start a new chapter of high-quality integrated development. For more information, please visit the Company’s website at http://www.chinasouthcity.com/
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.
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.
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