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…
Stratolaunch Completes First Flight with Talon-A Separation Vehicle. Stratolaunch announces the successful completion of its first captive carry flight with the Talon-A separation test vehicle, TA-0, integrated with Roc’s center wing pylon. The eighth flight test of Roc, the world’s largest flying aircraft, lasted 5 hours and 6 minutes over the Mojave Desert and reached an altitude of 23,000 feet (7000 meters).
This flight focused on measuring the aerodynamic loads on the Talon-A vehicle while mated to Roc. The loads captured in flight will validate aerodynamic predictions to ensure the release mechanism will function as designed.
In Agritech News this week…
Small giant, Korean AgTech startup enters U.S. The Korean promising AgTech startup, AG-Uni, is starting its first global business in the United States. When people thought that agriculture as only a matter of making a living, AG-Uni looked furthermore. In the future, agriculture could be a cure for cancer, meant for vegetarians, and a very important way to protect the planet’s environment. AG-Uni started the business with the idea to connect the world and humanity closer through agriculture.
AG-Uni wants to “simplify complex supply chains” and realize “system production and custom manufacturing” with the technology and network necessary for high value-added crop production. Plants cultivated by us are largely divided into above ground parts (stems) and rhizomes (roots).
In Automotive News this week…
Nissan Pathfinder and Frontier win Awards at Annual Texas Auto Writers Association Truck Rodeo. The 2023 Nissan Pathfinder Rock Creek and the 2022 Nissan Frontier PRO-4X were named winners in their categories by the Texas Auto Writers Association (TAWA) at the annual TAWA Truck Rodeo, a two-day rugged terrain evaluation held at Eagle Canyon Raceway off-road course in Decatur, Texas.
The 2023 Nissan Pathfinder Rock Creek was voted “Mid-Size SUV of Texas.” The Nissan Pathfinder was all-new for the 2022 model year, marking a “return to rugged” with a bold design and notable capability that builds on four decades of Pathfinder heritage. For the 2023 model year, Pathfinder helps owners take more adventurous journeys with the addition of an off-road-inspired Rock Creek grade, designed for drivers with the desire to venture into nature.
In BFSI sector news this week…
ANEXT Bank Launches New Industry Initiative to Scale Financial Inclusion for SMEs. ANEXT Bank, a digital wholesale bank incorporated in Singapore and a wholly-owned subsidiary of Ant Group, unveiled its latest initiative to drive further industry collaboration as part of its mission to enable effortless and inclusive financing for SMEs. The initiative aims to improve and scale embedded finance for SMEs, making it easier for businesses to access financing, as well as to monitor and manage it on platforms where they run their business.
The ANEXT Programme for Industry Specialists1 is open to the participation of all e-commerce marketplaces, fintech companies and digital solutions providers who support SMEs’ cross-border operations through digital-based services or platforms. ANEXT Bank will collaborate with these industry specialists to expand the breadth of service offerings for SMEs on their platforms to include digital financial services offered by ANEXT Bank.
In Biotechnology news this week…
Avirmax CMC Received License for cGMP Gene Therapy Vector Production by the California Department. Avirmax CMC Inc., a global leader in recombinant adeno associate virus vector (rAAV) innovation and manufacturing process development, using a recombinant baculovirus Sf9 (rBV-Sf9-AAV) system, has completed its brand-new facility in Hayward, CA (San Francisco Bay Area). The facility has received cGMP license approval by the California Department of Public Health (CDPH)-Food & Drug Branch, for the production of rAAV drug products for use in clinical investigations.
The new 20,000 sq.ft. state-of-the-art manufacturing facility is composed of three functional areas – developmental laboratories, testing laboratories and cGMP production suites consisting of B, C, and D clean room classifications, which are prepared for rAAV Contract Research, Development, Manufacturing Organization (CDMO) service.
In Chemicals sector news this week…
Clariant Completes Acquisition of BASF’s U.S. Attapulgite Business Assets. Clariant, a focused, sustainable, and innovative specialty chemical company, announces that it has completed the acquisition of BASF’s U.S. based Attapulgite business assets for USD 60 million in cash. Structured as an asset deal, the transaction includes the transfer of land as well as mining rights, the processing facility, and inventories, which will be integrated into Clariant’s Functional Minerals business. The finalized deal also includes an agreement for the long-term supply of attapulgite-based products to BASF. The transaction will improve the EBITDA margin profile of Clariant’s Business Area Natural Resources while supporting the company’s path towards reaching its 2025 targets.
In Energy & Power news this week…
Cardinal Midstream Announces Acquisition of Natural Gas Business in Prolific Delaware Basin. Cardinal Midstream Partners (“Cardinal”), an independent midstream energy company based in Dallas, announced it has signed definitive agreements with Medallion Midstream Services (“Medallion”) to acquire Medallion’s natural gas gathering and processing business in the Delaware Basin in West Texas. The transaction is subject to customary closing conditions and is expected to close in early 2023.
The newly acquired midstream infrastructure includes natural gas gathering and processing solutions for top-tier producer customers in the heart of the Delaware Basin. The system spans Reeves and Loving counties and includes approximately 80 miles of high- and low-pressure natural gas gathering pipelines and a 140 million cubic feet per day (MMcf/d) natural gas processing facility.
In Food & Beverage news this week…
Cocomels Launches New Oatmilk Chocolate-Covered Line, Exclusively at Sprouts. Cocomels, makers of the original coconut cream caramel, is expanding its offerings with new Oatmilk Chocolate-Covered products that will be sold exclusively at Sprouts through January 2023. The new indescribably delicious line will launch with 2 SKUs – Oatmilk Chocolate-Covered Caramel Bites and Oatmilk Chocolate-Covered Toffee Bark – and is enrobed in a proprietary oatmilk chocolate recipe that’s sweet, creamy, and tastes like regular milk chocolate. Free from dairy, gluten, and GMOs, Cocomels and oatmilk chocolate are a match made in plant-based heaven.
In IT news this week…
PCS Software Delivers Automated Dispatching And Invoicing To Sapphire Gas Solutions. PCS Software (PCS), the leading all-in-one, AI transportation management platform for shippers, carriers, brokers and 3PL, announced that Sapphire Gas Solutions (Sapphire) has selected PCS Software for their Shipper TMS (transportation management system) Platform. Sapphire, an industry leader in mobile LNG and CNG service across the United States with over 60 years of experience in natural gas service and transportation, is now using the PCS Shipper TMS to manage planning, dispatch, tendering, and carrier payments for shipments through its private fleet and contract carriers.