Here is Read Magazine’s Weekly Roundup of the top news from global markets. In this fast paced world, breaking down information helps readers grasp the nuances that follow the news.
In Aerospace News this week…
Aery Aviation, LLC (‘Aery’) is Awarded USAF Aircrew and Maintenance Training Contract. Aery Aviation, LLC (“Aery)” has been awarded a contract for the United States Air Force Security Assistance Training Squadron (AFSAT) Aircrew & Maintenance Training (A&MT) contract. This is a combined maximum-value $194,500,000 IDIQ multiple-award contract.
This contract provides Foreign Military Sales students from multiple partner nations and United States Government students for aircrew and maintenance training located CONUS and OCONUS. The single contract was originally three separate contracts and was combined into one. This is a 10-year contract, and Aery along with seven other awardees will compete for the firm fixed price task orders.
In Agritech News this week…
China Green Agriculture, Inc. Receives NYSE Notice Regarding Late Form 10-K Filing China Green Agriculture, Inc. Inc. announced that, as a result of its failure to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2022 (the “2022 Form 10-K”) in a timely fashion, it has received a notice from the New York Stock Exchange (the “NYSE”) that the Company was not in compliance with the NYSE’s continued listing requirements under the timely filing criteria established in Section 802.01E of the NYSE Listed Company Manual.
In Automotive News this week…
Mercedes-Benz signs supply deal with Rock Tech Lithium for EV-ramp-up. Mercedes-Benz AG finalized a supply agreement with Canadian-German-start-up Rock Tech Lithium Inc. to secure high-quality lithium used in battery production as part of a direct sourcing approach. Starting in 2026, including a qualification period, this allows the Stuttgart-based luxury carmaker to get its battery partners supplied with raw material to rapidly scale up its production of fully electric vehicles.
Mercedes-Benz plans to go all electric by the end of the decade, wherever market conditions allow, requiring the brand with the three-pointed star to open new sources of raw materials with new partners. As part of the agreement, Rock Tech Lithium plans to supply battery-grade lithium hydroxide to Mercedes-Benz battery partners from a converter based in Guben, Brandenburg, Germany. Lithium hydroxide is needed for the production of lithium-ion batteries which are used in Mercedes-Benz electric vehicles.
In BFSI sector news this week…
Paysafe Partners With HotelKey to Streamline Payments for US Hotels. Paysafe , a leading specialized payments platform, announced a new integrated payments partnership with HotelKey, a cloud-based software solution provider for the hospitality industry. Paysafe will seamlessly integrate with HotelKey’s software solutions to streamline payments for U.S. hotels across their front-desk, hospitality, retail, food and beverage, and other back-of-house operations.
In Biotechnology news this week…
AUM Biosciences and Asymchem Complete Phase II API Production Campaign of Novel TRK Inhibitor. Asymchem, a leading global contract development and manufacturing service provider, and AUM Biosciences (AUM), a global clinical stage biotech company, focused on discovering, acquiring and developing next generation targeted oncology therapeutics, jointly announced the completion of their first GMP production campaign of AUM601.
Earlier this year, Asymchem and AUM Biosciences announced the two companies would collaborate on process development and clinical and commercial production of AUM 601, a highly selective oral small molecule inhibitor of the tropomyosin receptor kinase (TRK) for treating rare cancers.
In Chemicals sector news this week…
Chemours and the University of Delaware Unveil the Center for Clean Hydrogen. The Chemours Company, a global chemistry company, celebrated the announcement of the Clean Hydrogen Partnership co-developed with the University of Delaware, and the unveiling of the Center for Clean Hydrogen. The Clean Hydrogen Partnership (CHP) is an innovative public-private collaboration that brings the U.S. Department of Defense, the University of Delaware, Chemours, Plug, and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) together to solve the challenges of producing clean hydrogen at low cost and converting the hydrogen to energy in an efficient way. Senators Tom Carper (Del.), Chris Coons (Del.), Chuck Schumer (N.Y.), Congresswoman Lisa Blunt Rochester (Del.), and Congressman Paul Tonko (N.Y.) were instrumental in advocating for the establishment of the CHP and the Center for Clean Hydrogen.
In Energy & Power news this week…
Targray Reduces Carbon Footprint with New Solar Roof at World Headquarters. Global commodity trading and material solutions provider Targray has outfitted the rooftop of its corporate headquarters with a cutting-edge 242-module photovoltaic (PV) system. Located in the West Island of Montreal, the new installation is expected to produce 130,000 kWh annually.
The 107-kilowatt system installed by local solar energy company Quebec Solar is comprised of 450-watt panels positioned along a support structure, with bifacial dual glass cells from leading solar module manufacturer Talesun Solar that can capture sunlight from the front as well as the light reflected behind the panels – an advantageous solution for snow-capped roofs in the winter months.
In Food & Beverage news this week…
Quaker Unveils “Quaker Hunger Clock” and Teams Up with Feeding America. Super Bowl LVII is fast-approaching, and Quaker, a subsidiary of PepsiCo, is counting down the days (and minutes) a little differently this year. As the official oatmeal sponsor of the NFL, Quaker is introducing the Quaker Hunger Clock in partnership with Feeding America.
Quaker believes that the circumstances of life should never be a barrier to good nutrition, which is why the brand is helping tackle hunger and advance food security in the U.S. Quaker’s goal is to help raise $500,000, equivalent to funding 5 million meals*, for Feeding America by Super Bowl LVII. Quaker will match donations to Feeding America, made through its QR code, up to a total of $250,000.
In IT news this week…
Voltas IT, the Company Behind OBDeleven, Announces the Release of Its New Application. Voltas IT, the company developing the intelligent automotive solution OBDeleven, released a BMW application – an easy-to-use customization and diagnostic solution for daily drivers of BMW Group vehicles. Now, drivers will be able to refine their driving experience with a few clicks on a smartphone, even without any programming knowledge.
The latest release from OBDeleven will be available in the European Union (EU), Iceland, Lichtenstein, Norway, Switzerland, Turkey, the United Kingdom (UK), and the United States (US) and its territories. The BMW Group brands join the Volkswagen Group (VAG) list of brands, including Volkswagen, Audi, Seat, Cupra, Škoda, Bentley, and Lamborghini, which are officially supported by OBDeleven.
In Materials news this week…
Blastr Green Steel and Cargill Metals Sign MoU for Supply of Green Steel. Cargill’s metals business and Blastr Green Steel AS (“Blastr”), a developer of decarbonized steel supply, have agreed to work together to supply steel made without use of fossil fuels in the Nordic region to meet growing global demand for green steel. Both companies share an ambition to drive significant reductions of carbon emissions in the steel industry.
Under the Memorandum of Understanding (“MoU”), Blaster and Cargill Metals plan to combine the skills of both companies to accelerate the development of projects that enable significant carbon savings to the global steel industry. Cargill Metals brings expertise in raw materials sourcing, and Cargill’s global capabilities in ocean transportation and logistics, as well as development of green products for market, risk management and financing facilities.