FILMART and EntertainmentPulse conclude successfully

Over 7,500 participants from 50 countries and regions, reaffirming FILMART’s position as the premier platform for film and TV.
Significant growth in exhibitors and buyers from ASEAN countries, up 50% and 6% respectively year-on-year.
Multiple MoUs signed, including with Guangzhou, Thailand and Shanghai.
Over 1,000 film and entertainment works uploaded on FILMART’s online platform, further solidifying Hong Kong’s position as a regional IP trading hub.
FILMART’s virtual platform accessible until 13 April, offering ongoing collaboration opportunities.

HONG KONG, Mar 14, 2024 – (ACN Newswire) – The Hong Kong International Film and TV Market (FILMART) and EntertainmentPulse, organised by the Hong Kong Trade Development Council (HKTDC), concluded successfully today.

Asia’s leading cross-media, cross-industry trading platform attracted over 7,500 participants from 50 countries and regions and over 760 exhibitors from 27 countries and regions. Notably, there was a significant year-on-year increase in ASEAN exhibitors and buyers, 50% and 6%, respectively.

FILMART showcased a wide range of the latest film, TV and animation works as well as cutting-edge technologies in film production, including the debut of a virtual production studio in a collaboration with Hong Kong creative tech firm Votion Studios. A number of MoUs were signed to strengthen bilateral cooperation in film and entertainment.

Promoting ASEAN and trade cooperation

In recent years, the film and entertainment industry in ASEAN countries, particularly Thailand, has experienced robust growth. In addition to the Thai Pavilion set up by the Thai Ministry of Culture, FILMART also held a Thai Day on opening day to leverage Hong Kong’s platform for industry development and encourage collaboration between Hong Kong and Thailand.

Hong Kong SAR Chief Executive John Lee led a delegation to visit three ASEAN countries, including Indonesia, last year, encouraging ASEAN businesses to leverage Hong Kong’s platform to further grow their entertainment industry. Following the visit, the Ministry of Tourism and Creative Economy of Indonesia staged a country pavilion for the first time at FILMART to showcase their film and TV productions. Rina Dayamanti, Festival Director of Jakarta Film Week and one of the pavilion representatives, expressed that Indonesian exhibitors were keen to meet a large number of Mainland Chinese buyers at the fairground and to explore the possibility of producing Indonesian versions of mainland IP projects.

The HKTDC also signed MoUs with several organisations, including the Department of International Trade Promotion of the Thai Ministry of Commerce and the Guangzhou Municipal Bureau of Culture, Radio, Television and Tourism, to strengthen bilateral economic and cultural cooperation. Additionally, a MoU was signed with the Shanghai Broadcasting Film & Television Producers Association to diversify bilateral cooperation in entertainment beyond co-productions.

Film companies leveraged FILMART’s platform to announce their latest productions and upcoming plans. Notably, Alibaba Digital Media and Entertainment Group unveiled the “Hong Kong Cultural and Art Industry Revitalisation Program”, committing to invest no less than HK$5 billion over the next five years to reinforce collaboration with Hong Kong’s cultural and entertainment industry.

To support Hong Kong’s growth as an innovation-driven economy and regional IP trading centre, FILMART this year strengthened its online platform, promoting exhibitors’ creative IPs, providing business referrals and facilitating business matching. As of early March, over 1,000 film and entertainment works have been uploaded to the platform.

First-time Indonesia Pavilion exhibitors Talamedia announced that Cercamon, Dubai-based global film sales firm, has acquired the worldwide rights of Crocodile Tears, a film co-produced by Talamedia and production companies from France, Germany and Singapore.

Another first-time Indonesia Pavilion exhibitor KawanKawan Media, which has produced award-winning films, also announced they concluded principal photography of their latest feature, Tale of the Land, which is now in post-production.

Euro-Asia co-production opportunities in the spotlight

The Hong Kong Film Development Council launched the Hong Kong-Europe-Asian Film Collaboration Funding Scheme”, thanks to the Hong Kong SAR Government’s investment in the Film Development Fund, to encourage more international productions to come to Hong Kong to collaborate with Hong Kong filmmakers.

One of the guest speakers at EntertainmentPulse, Catherine Souyri-Desrosier, International Department Director of Centre national du cinéma et de l’image animée, commented: “Co-production is at the heart of France’s cultural policy to promote cultural diversity, cultural exchanges and cross-fertilisation. As France has developed a proactive policy to support co-productions with more than 60 bilateral treaties, including with four countries in Asia: China, Cambodia, South Korea and India. We look forward to collaborating with outstanding Asian crews and developing high-quality productions.”

New wave in Hong Kong cinema

In recent years, Hong Kong has seen the emergence of talented young directors, whose works have made their mark in the global film industry, ushering in a new wave in Hong Kong cinema. Many of them were supported by the Hong Kong SAR Government’s First Feature Film Initiative and Film Production Financing Scheme.

At the concurrent EntertainmentPulse, Hong Kong film director Stanley Kwan said: “The Hong Kong SAR Government and industry veterans should assist high-quality films in reaching international audiences through various channels and bring new directors to people’s attention to encourage more new talents to create.”

Cross-media events at FILMART

The Digital Entertainment Summit featured at EntertainmentPulse explored trending topics in the world of digital entertainment, including animation and cross-border collaboration. Shimizu Shinji, Chief Advisor of Toei Animation, the animation production company behind box office hits Ikky-san and One Piece, shared his insights on the application of digital entertainment in animation creation. Furthermore, Across animation digital effects and interactive solutions, 38 Hong Kong production companies at the Hong Kong Animation and Digital Entertainment Pavilion showcased Hong Kong’s latest wave of young creatives.

FILMART is not only a trading platform for the film and entertainment industry, but also a showcase for music producers. Led by music director Dr Mui Kwong Chiu, the inaugural Hong Kong Film Music Fiesta – Rhythm of Martial Arts Music Concert featured iconic theme songs from classic Hong Kong films.

The online platform of FILMART will remain open until 13 April. Registered users can rewatch EntertainmentPulse seminars and connect with global buyers and exhibitors to explore more business opportunities.

Website:
FILMART — www.hktdc.com/hkfilmart/en
EntertainmentPulse — entertainmentpulse.hktdc.com/en

Photo Download: https://bit.ly/4cbG8TP

The Hong Kong International Film and TV Market (FILMART) and EntertainmentPulse, organised by the Hong Kong Trade Development Council, attracted over 7,500 participants from 50 countries and regions.

EntertainmentPulse hosted multiple forums, with renowned leaders discussing a range of trending topics, including Hong Kong-Europe-Asia co-productions, development of streaming, globalisation of Chinese and ASEAN content as well as generative AI.

In recent years, the ASEAN film and entertainment industry has experienced robust growth, particularly Thailand. In addition to the Thai Pavilion set up by the Thai Ministry of Culture, FILMART also hosted a Thai Day on opening day.

Led by music director Dr Mui Kwong Chiu, the first Hong Kong Film Music Fiesta – Rhythm of Martial Arts Music Concert featured soundtracks of iconic Hong Kong films.

Multiple film companies leveraged FILMART’s cross-regional platform to attract global buyers, unveiling their latest productions and plans. Notably, Alibaba Digital Media announced the Hong Kong Cultural and Art Industry Revitalization Program.

Among two generations of filmmakers, Hong Kong film critic Thomas Shin and Fly Me to the Moon Director Sasha Chu and Producer Stanley Kwan, along with Dust to Dust Director Jonathan Li and Producer Cheang Pou-soi, discussed the latest developments of the Hong Kong film market.

Media enquiries
For enquiries, please contact:
Raconteur PR:
Betsy Tse, Tel: (852) 9742 7338, Email:betsytse@raconteur.hk
Molisa Lau, Tel: (852) 6187 7786, Email:molisalau@raconteur.hk

HKTDC Communication and Public Affairs Department:
Snowy Chan, Tel: (852) 2584 4525, Email:snowy.sn.chan@hktdc.org
Agnes Wat, Tel: (852) 2584 4554, Email:agnes.ky.wat@hktdc.org

HKTDC Newsroom: http://mediaroom.hktdc.com/en

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

U.S. Polo Assn. Opens India’s Largest Brand Store in Bengaluru, India

West Palm Beach, FL, Mar 14, 2024 – (ACN Newswire) – U.S. Polo Assn., the official brand of the United States Polo Association (USPA) and India’s leading casualwear brand, has opened its largest store in the country in Bengaluru, India. Spanning over 6,000 sq. ft. across three floors, the modern store is located in Jayanagar, one of India’s largest residential hubs with an affluent mixed residential and commercial community. U.S. Polo Assn. continues to transform the retail landscape for the brand in India, as it grows its position and targets $1 billion in sales in the country alone in the coming years.

An Authentic Connection

With an authentic connection to the sport of polo, the new retail space boasts modern decor and sport-inspired accessories that take shoppers through the brand story to enhance the consumer shopping experience. The store highlights the sporty elements of the brand while showcasing elements of fashion and style and keeping U.S. Polo Assn. product the core focus. There is also the well-recognized “polo shirt wall” that embodies the spirit of the brand’s classic and timeless polo shirt.

“An important part of the brand’s growth strategy is about omnichannel marketing and engaging the customer where they want to be,” said J. Michael Prince, President and CEO of USPA Global, the company that manages and markets the U.S. Polo Assn. brand. “By focusing on brick-and-mortar global flagship stores like this one in Bengaluru that is very special, U.S. Polo Assn. fans can experience the brand at home through our digital site or in-store, all with a great experience, beautiful sport and fashion imagery, as well as authentic storytelling.”

Iconic Store

The U.S. Polo Assn. store at Jayanagar also marks a very special milestone, as the first store in India to launch the new Spring-Summer ’24 Womenswear Collection, which was previously only available online. This global flagship is also the first location to house the entire range of product categories that the brand has to offer including USPA Mainline, USPA Sport, USPA Denim & Co., womenswear, footwear, kidswear, accessories, and innerwear. Classic polo shirts, oxfords, denim, sweaters, jackets, and t-shirts are just a few of the timeless favorites that are included in the featured collection.

“Our flagship store at Jayanagar isn’t just a brick-and-mortar expansion, it’s a statement and a one-of-a-kind experience for Bengaluru customers, speaking volumes about the prowess of U.S. Polo Assn., a brand as legendary as the sport itself,” said Amitabh Suri, CEO, U.S. Polo Assn. India. “Bengaluru has been a fast-growing market for USPA over the past few years, making it the perfect choice to open our largest flagship store. And in our commitment to Indian fans, we are focusing on the ever-evolving preferences of Indian consumers.”

India Power Brand

U.S. Polo Assn.’s popularity in India has only grown with the population, making India prime to be the global brand’s fastest-growing market.

As one of India’s leading casual wear power brands, the multi-billion-dollar, global, sport-inspired U.S. Polo Assn. brand has launched an exclusive brand-specific website USPoloAssn.in to further enhance digital offerings for customers and provide easier access to its product offerings. Its brick-and-mortar growth is exploding in India as well, with 100 more stores planned in the coming years.

Currently, the brand’s retail footprint in India is at more than 400 brand stores, and over 2,000 shop-in-shops, across more than 200 cities in India. Globally, the U.S. Polo Assn. brand is in 190 countries and has global retail sales of more than $2.4 billion.

About U.S. Polo Assn.

U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the governing body for the sport of polo in the United States and one of the country’s oldest sports governing bodies, founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through some 1,200 U.S. Polo Assn. retail stores as well as thousands of additional points of distribution, U.S. Polo Assn. offers apparel, accessories, and footwear for men, women, and children in more than 190 countries worldwide. A recent, multi-year deal with ESPN to broadcast several of the premier polo championships in the world, sponsored by U.S. Polo Assn., has made the thrilling sport accessible to millions of sports fans globally for the very first time.

U.S. Polo Assn. has consistently been named one of the top global sports licensors alongside the NFL, NBA, and MLB, according to License Global. In addition, the sport-inspired brand is being recognized around the world with awards for global growth, expansion, licensing, and digital growth. Due to its tremendous success as a global brand, particularly in the last five years, U.S. Polo Assn. has been featured in Forbes, Fortune, Modern Retail, and GQ as well as on Yahoo Finance and Bloomberg, among many other noteworthy media sources around the world. For more information, visit uspoloassnglobal.com and follow @uspoloassn.

About Arvind

Arvind Fashions Ltd., based in Bengaluru, is India’s #1 casual and denim player in the country’s retail industry, a lifestyle powerhouse with a strong portfolio of fashion brands catering to consumers across various sub-categories and price points. With a host of renowned brands, both international and indigenous, like U.S. Polo Assn., ARROW, Tommy Hilfiger, Calvin Klein, and Flying Machine, Arvind has a presence across lifestyle brands and value fashion.

Visit Arvind, USPoloAssn.in, and follow @uspoloassnindia.

Contact Information
Stacey Kovalsky
VP Global PR and Communications
skovalsky@uspagl.com
+001.561.790.8036

Deepansh Bhargava
Vice President, Marketing, U.S. Polo Assn. India at Arvind Fashions Limited
deepansh.bhargava@arvindbrands.co.in
+91 9343897011

SOURCE: USPA Global Licensing Inc.

View the original press release on newswire.com.

TCG World Metaverse and Lux Lions Unleash the Roar of Partnership, Paving the Way for an Immersive Virtual Experience

BOSTON, Massachusetts, Mar 14, 2024 – (ACN Newswire) – Lux Lions, the trailblazing NFT brand on the XRP Ledger, proudly announces its strategic partnership with TCG World Metaverse, marking a significant leap towards redefining the virtual landscape. This collaboration enables users to dive into a dynamic virtual experience, where the essence of NFT culture and metaverse exploration merge to create unparalleled opportunities for engagement and creativity.

Since its inception in 2022, Lux Lions has rapidly evolved, blending cutting-edge NFTs with engaging play-to-earn games. The Lux Lions NFT Brand has become synonymous with exclusive experiences, and the partnership with TCG World Metaverse is set to amplify this ethos.

Lux Lions Founder, YouTube Personality Ripple Van Winkle, expressed his enthusiasm for the collaboration, stating, “We are thrilled to join forces with TCG World Metaverse. This partnership allows us to expand the boundaries of the Lux Lions Brand and create a unique space where users can truly immerse themselves in a Web3 world of creativity and opportunity.”

This partnership is about more than uniting two brands; it’s about setting a new standard for what’s possible in the virtual world. By leveraging Lux Lions’ innovative NFT solutions and TCG World’s expansive metaverse platform, this collaboration is poised to offer users a rich, immersive experience that stands at the intersection of art, entertainment, and community.

“Partnering with Lux Lions marks a pivotal moment for TCG World Metaverse. It’s more than just a collaboration; it’s a fusion of our visions to create an immersive ecosystem where creativity meets opportunity. Together, we’re not just building virtual landscapes; we’re crafting experiences that resonate on a personal level with our users,” said Justin Del Giudice, Vice President of TCG World Metaverse.

In aligning with Lux Lions, an esteemed NFT collection on the XRP Ledger, TCG World Metaverse is taking a monumental step towards weaving the XRPL community into the fabric of the metaverse. This partnership marks the beginning of an exciting journey to bridge the digital divide and draw the spirited XRP community into the heart of virtual innovation. With the introduction of dedicated galleries and interactive spaces, tailor-made for XRPL enthusiasts, TCG World Metaverse is thrilled to open its doors wider to this dynamic community.

As we continue to push the boundaries of what the metaverse can be, Lux Lions and TCG World Metaverse invite everyone to be part of this visionary journey. Together, we are crafting a future where digital worlds provide meaningful, engaging experiences that connect and inspire people across the globe.

Learn More About Lux Lions: Lux Lions Discord | Ripple Van Winkle YouTube | Twitter

About TCG World:

TCG World is at the forefront of the gaming industry, creating immersive and interactive metaverse experiences. With a commitment to innovation, TCG World is developing a virtual world that offers endless possibilities for exploration, creativity, and entertainment.

Contact details:
PlatoAiStream.com
Zephyr@platodata.io

Tokyo Innovation Base: Tokyo’s Node in the Global Startup Ecosystem, Opening May 2024

TOKYO, Mar 14, 2024 – (ACN Newswire) – The Tokyo Metropolitan Government is proud to announce the launch of Tokyo Innovation Base. Combining the facilities of the startup campus and business networking hub in the beating heart of Japanese commerce and culture, Tokyo Innovation Base (TIB) seeks to supercharge the local startup scene and position Tokyo as a premier global hub for innovation and entrepreneurship.

Tokyo Innovation Base

City with a mission

Organized by the Tokyo Metropolitan Government with a mission to catalyze innovation and drive societal progress, TIB aims to make Tokyo the most startup-friendly city in the world.

The Japanese government has already pushed through legislation and earmarked funding to grow the number of startups and new business launches in the capital tenfold over the next five years. This “Five-Year Startup Development Plan,” announced in November 2022, includes increasing the current annual startup investment of 800 billion yen to 10 trillion yen by FY2027, and creating 100 unicorns and 100,000 startups in the future.

Koike Yuriko, Governor of Tokyo, expressed her vision for Tokyo Innovation Base: “Our core values at TIB are global, growth, collaboration, and connect. We hope to see entrepreneurs and innovators born here and gather from all over the world. Tokyo is committed to supporting all innovators.”

Node of Innovation

TIB will do its part in supercharging Tokyo’s startup ecosystem with a focus on collaboration, access, and networking. By providing a space for entrepreneurs, investors, and representatives from established companies and government to mingle and exchange ideas freely, TIB serves as a convergence point where ambitious minds unite to drive societal progress through groundbreaking ideas and cutting-edge technologies.

Over 140 corporate partners have established ties with TIB, to foster ecosystem collaboration by connecting startup ecosystem builders and investors with key stakeholders in Tokyo and Japan.

Concierge

At Tokyo Innovation Base, we want to ensure that startups truly take off. Offering access to over 50 experts from a wealth of industries for one-on-one meetings, our concierge program caters to early-stage startups, later-stage startups interested in establishing a presence in Japan, and future founders exploring business opportunities in Japan.

Mentorship covers everything from guidance specific to your industry, to more general assistance such as pitch training sessions, business ideation, and facilitation of partnerships with Japanese corporations.

Events

As a major hub for startups, universities, venture capitalists, and support organizations, Tokyo provides fertile ground to connect with major industry players and a truly enormous customer base.

TIB’s regular networking events seek to bring the people that can matter together.

Exhibit

TIB’s permanent exhibition hall provides space for startups to show off their latest innovations. One of the hardest parts of launching a new business, product, or service can be raising awareness in the people who matter. With TIB’s 140 corporate partners and ecosystem of VCs and entrepreneurs, whether you’re looking for partners or investment, there is no better place to start.

Calling all innovators

Don’t take our word for it: Tokyo Innovation Base is having its grand opening in May, and it’s open to all. For more information, please check our website and follow us on social media.

Website: https://tib.metro.tokyo.lg.jp/en
LinkedIn: https://www.linkedin.com/company/tokyoinnovationbase/
X: https://twitter.com/TIBTokyo

Contact
For media inquiries or more information about Tokyo Innovation Base, please contact:
Office for Startup and Global Financial City Strategy, Tokyo Metropolitan GovernmentEmail: tokyo_innovation_baseï¼ tohmatsu.co.jp

Contact Information
Tokyo Innovation Base TIB
Media Relations
tokyo_innovation_base@tohmatsu.co.jp

Related Images

Tokyo Innovation Base

We created the Tokyo Innovation Base as a place for startups and ecosystem builders to come together. Yuriko Koike, Governor of Tokyo

Tokyo Innovation Base Entrance

SOURCE: Tokyo Innovation Base

View the original press release on newswire.com.

Arya Resources Ltd. (RBZ) Drills 3.5 Kilogram per Tonne (Kg. /t) Copper, 6.1 Kg. /t Nickel, and 0.247 Kg. /t Cobalt over 36.5 meters

Vancouver, British Columbia–(ACN Newswire – March 13, 2024) – Arya Resources Ltd. (TSXV: RBZ) (“Arya” or the “Company”) is pleased to announce the company has received results for its fall drill program on the company’s Dunlop Ni-Cu project in northern Saskatchewan, Canada. The program consisted of 8 drill holes totalling 1045m and was completed between December 7^th and 17^th, 2023.

Drill Hole AR 23-007 intersected, starting from 16 meters (m) :

35.50 meters (m) of 0.32% Copper (Cu), 0.39% Nickel (Ni), and 161 grams/tonne (g/t) Cobalt (Co)
- including 0.41% Cu, 0.52% Ni and 195 g/t Co over 17 m.

Drill Hole 008 intersected, starting from 18.5 m:

36.5 m of 0.35% Cu, 0.61% Ni and 247 g/t of Co
- including 0.64% Cu, 1.35% Ni and 518 g/t Co over 9.7 m.

The project is located 37km north of La Ronge via Provincial Highway 102 and then an 8km bush road heading west to Nemeiben Lake provides excellent access. A powerline runs along Provincial Highway 102 and would provide easy access to hydro for the project site.

Fall 2023 Drill Program: Dunlop Ni-Cu Project, Nemeiben Lake

Drillhole	UTM E	UTM N	Elev(m)	Azimuth	Dip
AR23-007	489275	6130945	390.7	0.0	-55
AR23-008	489275	6130945	390.7	0.0	-70

The drill program was designed to test favourable Nickel-Copper targets identified within the historic Dunlop Ni-Cu Zone identified at the East Zone-the mineralization showed continuity and appears to be of similar nature to the zone intersected in the historic drilling, 3-5% disseminated and blebby pyrrhotite with trace to 1% pentlandite and chalcopyrite. Locally, on a meter scale, sulphide content increases to 30%.

Previous drilling in 1960-1980 identified a historical deposit totalling 18.11 million tonnes of Ni, and Cu mineralization of which 12.83 million tonnes were considered able to be mined as an open pit and the balance by underground mining. Grades ranged from 0.55% Ni – 1.46% Ni and 0.15% Cu – 0.39% Cu with assays of up to 0.35% Cr and 0.15% Co -Source Reference: SMDI#0749 Saskatchewan Mineral Database Identification Number- (see Company News Release: https://aryaresourcesltd.com/pdf/2023-03-02_NR.pdf)

Haultain Uranium Property- Athabasca Basin Saskatchewan, Canada

The company also owns early-stage uranium claims near the Athabasca Basin of Saskatchewan: 20,625 acres in Key Lake McArthur River Uranium-Corridor less than 50km from a mill. Several Uranium mining companies are drilling the Key Lake / Mc Arthur River Uranium Corridor. Projected strike of the P-2 Thrust fault which hosts the McArthur River Uranium mine in the Athabasca basin, extends onto the property. Basement hosted Uranium deposit(s) could be coming to surface outside the current limits of the Athabasca basin, where the property is located. A very Large Mag low runs through the middle of the property. The company plans to conduct exploration work in 2024 in preparation for defining follow-up Uranium drill targets (see attached Haultain Airborne Magnetics map).

Qualified Person

Kevin Wells, P.Geo, a consulting geologist to the Company, is the independent qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release.

About the Company

Arya Resources Ltd (TSXV: RBZ) is a tier-2 listed mining and mineral exploration Company. The Company is focused on acquiring, exploring and development of energy / precious metals projects including Gold, Uranium, and base metals in stable jurisdictions.

On behalf of the Board of Directors:
Rasool Mohammad, CEO
Email: rasool@aryaresourcesltd.com
Telephone: (604) 868-7737
https://aryaresourcesltd.com/

Haultain Lake Airborne Magnetics

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9409/201527_25281de124daa8ff_001full.jpg

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201527

Autobrains’ Liquid AI Enables True Automotive Intelligence

TEL AVIV, ISRAEL and MUNICH, GERMANY, Mar 13, 2024 – (ACN Newswire) – Autobrains, a leader in automotive AI headquartered in Tel Aviv, introduces its latest breakthrough: Liquid AI. Liquid AI represents a paradigm shift in autonomous driving and Advanced Driver Assistance Systems (ADAS), addressing challenges that even the best automotive companies struggle to overcome. It combines Autobrains’ signature-based self-learning approach with a modular and adaptive architecture of specialized, scenario-based end-to-end skills. “While current technologies perform well in handling average conventional driving tasks, they fall short when faced with unexpected real-world driving scenarios that demand greater precision. By using or implementing our Liquid AI, automotive companies can close their AI gaps,” adds Autobrains’ Founder and CEO, Igal Raichelgauz.

The Challenges Faced by Conventional AI Systems:

Edge Cases: The infinite variety of unexpected driving scenarios presents conventional AIs with practically unsolvable tasks. Today’s manually trained black-box systems cannot cover edge cases. Attempts to address this by feeding the systems more labeled images result in a loss of trackability and controllability.
Cost: Addressing real-world driving problems by expanding existing systems with more data, labeling, layers, and computational resources leads to escalating costs and power consumption, resulting in diminishing returns. Achieving a substantial improvement in system accuracy by a factor of 10 requires 10,000 times more computational resources.
Perception-Decision Disconnect: The missing interplay between perception and decision functions hinders effective and precise decision-making. For the AI to make optimal driving choices, it requires specific information. However, when details are missing or overly complex, precision is compromised, leading to incorrect reactions.

Liquid AI – Human Brain-Inspired:

Autobrains draws inspiration from the human brain, which consists of specialized areas akin to task-specific narrow end-to-end AIs. Just as our brain adapts its architecture based on context – such as light/weather conditions, surroundings, and relevant road users – Liquid AI follows the same approach. Here’s how it works:

Network of Specialized Narrow AIs: Liquid AI comprises hundreds of thousands of specialized narrow AIs, each designed for specific tasks, making reactions very precise and tailored to the relevant driving scenario. This specialized AI approach enables scalability, ranging from a few tens to hundreds of AIs for ADAS systems, scaling up to thousands for higher levels of automated driving, all the way to hundreds of thousands of AIs for full self-driving.
Adaptive Architecture: Unlike fixed systems, Liquid AI’s architecture adapts dynamically to the driving context, activating only relevant modules as necessary. This significantly reduces power consumption and compute requirements, not only resulting in cost savings for the System on Chip (SoC) hardware.
Efficiency and Precision: By mimicking the brain’s flexibility, Liquid AI achieves superior performance, cost-effectiveness, and safety.

The Future of Automotive Intelligence:

Autobrains’ Liquid AI bridges the gap between conventional AI limitations and the promise of truly intelligent autonomous systems. By mimicking the human brain’s flexibility, Liquid AI achieves superior performance, cost-effectiveness, and more explainability and controllability.

About Autobrains

Autobrains is a leading AI company in the automotive industry. Autobrains invented and developed a paradigm-shifting AI technology: Liquid AI – backed by 250+ patents addressing autonomous driving challenges. Implementing this unique AI technology for ADAS applications disrupts the market with its unprecedented perception capabilities, low compute requirements, and agnosicity to sensors and SoCs. The company is backed by strategic investors including Temasek, Knorr-Bremse AG, BMW i Ventures, Toyota Ventures, VinFast, Continental AG, and Autel.

Learn more: https://autobrains.ai.

Contact: sales@autobrains.ai

Contact Information
Sophia Eichler
Director of Marketing
media@autobrains.ai
+49 015167066494

SOURCE: Autobrains

View the original press release on newswire.com.

Photonis’ Ion Detection Technology Enables NASA’s Key Research of Aurora Phenomenon

STURBRIDGE, MA, Mar 13, 2024 – (ACN Newswire) – Photonis, a leading brand of Exosens, has supplied U.S. government agency NASA with Channeltron® (Channel Electron Multipliers) to be used to aid in the detection of particles present within the atmospheric phenomenon known as the Aurora Borealis.

On Nov. 8, NASA’s Goddard Flight Center’s DISSIPATION mission took flight aboard a suborbital, two-stage sounding rocket launched from the Poker Flats Research Range in Fairbanks, Alaska. The launch occurred shortly after midnight and was timed perfectly with the peak of the aurora that morning, which lasted less than half an hour. Ascending into the auroras, the mission aimed to gather crucial data that will shed light on the intricate process of energy dissipation from high-altitude solar winds into the atmosphere. This knowledge holds significant implications for enhancing our understanding of aurora formation and improving space weather predictions.

The DISSIPATION sub-payload features NASA’s MoSAIC (Modular Spectrometer for Atmosphere and Ionization Characterization) instrument equipped with Photonis Channeltron® Channel Electron Multipliers. These specialized detectors play a crucial role in MoSAIC, enabling precise measurements of neutral and ion winds’ composition, density, temperature, and velocity in the upper atmosphere.

“We are excited and honored to contribute our advanced Channeltron™ Ion Detection Technology to NASA’s DISSIPATION Mission. This collaboration marks another milestone in our commitment to make advanced cutting-edge technology available for the scientific community to explore and understand the mysteries of our universe. We look forward to seeing how our technology aids in unraveling the complexities of the Aurora Borealis and solar winds to improve space weather predictions,” said Ulrich Laupper, President and Executive General Manager of the Exosens Ultimate Detection Business Unit.

While it will take scientists a while to analyze all the data, the early results are that the mission was a complete success.

ABOUT PHOTONIS:

Photonis, a leading product brand of Exosens, is a high-tech company with more than 85 years of experience in the innovation, development, manufacture, and sale of high-end electro-optical technologies used in the detection and amplification of ions, electrons, and photons. Photonis offers its customers photo-detection and low-light conditions imaging solutions for extremely demanding environments such as Defense & Security, Nuclear Safety, Life Science, and Industrial & Non-Destructive testing. Photonis is internationally recognized as a leading brand and a major innovator in its fields with production and R&D sites in Europe and North America.

For more information: exosens.com.

Contact Information
Sales Manager
science@exosens.com
5083474000

SOURCE: Photonis Scientific, Inc.

View the original press release on newswire.com.

APEL Biomedical Technology Innovation and Translational Commercial Laboratory Officially Opens

HONG KONG, Mar 13, 2024 – (ACN Newswire) – Absolute Pure EnviroSci Limitedï¼ˆ”APEL”ï¼‰Biomedical Technology Innovation and Translational Commercial Laboratory has officially opened at Hong Kong Science Park and has announced two letters of intent for cooperation, covering different areas such as pet research, health technology, veterinary clinics, international certification, and new materials. The collaborative partners include several top companies in the industry. Through promoting the translation of research results and transforming innovative ideas into market products and solutions, they aim to accelerate the seizing of the golden age of the global pet industry, which exceeds USD500 billion. This collaboration brings limitless potential and opportunities, while also invigorating the entrepreneurial ecosystem in Hong Kong and injecting new energy into its economy.

Ms. Lillian Cheong, Under Secretary for Innovation, Technology and Industry of the Hong Kong Special Administrative Region said, “the HKSAR Government has been proactively developing the basic research in life and health technology, and promoting the transformation of upstream research and development outcomes into products. With the distinctive advantages of enjoying strong support of the Motherland and being closely connected to the world under the ‘one country, two systems’, we will further the transformation of scientific research and development of life and health technology in Hong Kong through such measures as the setting up of life and health technology research institutes and InnoLife Healthtech Hub. I hope that more local innovation and technology enterprises can prosper and contribute to the high-quality development of Hong Kong.”

Dr. Grace Lau, Head of Institute for Translational Research of Hong Kong Science and Technology Parks Corporation (HKSTP) stated, “It is great to see the official opening of APEL Laboratory and the successful transformation of scientific research and technology into commercial products. HKSTP envisions creating a global biotechnology hub and is committed to promoting technology transfer. Over the past five years, there has been significant growth in the field of biomedical technology. We have attracted numerous biomedical innovation and technology enterprises, covering areas such as pharmaceuticals, medical devices, diagnostics, and traditional Chinese medicine. We look forward to supporting APEL in further commercializing their research technologies and expanding into more markets and fields.”

Dr. David Chung, Chairman of APEL said, “As one of the flagship innovative technology companies in Hong Kong, APEL has experienced rapid development in both national and global markets over the past year. Today, we are delighted to have officially established our presence in Hong Kong Science Park with the opening of the Biomedical Technology Innovation and Translational Commercial Laboratory. The success of industry-academia-research collaboration relies on excellent scientific research and further requires involvement from the business community. While APEL possesses these essential factors for success and, by establishing its presence in and receiving comprehensive support from the Hong Kong Science Park. Additionally, APEL benefits from the substantial financial resources invested by its parent company, a listed company, Yee Hop Holdings Limited. In the future, the company will continue to drive the transformation of innovative ideas into market products and solutions by facilitating the commercialization of research and development results, contributing to the growth of the innovation and technology sector in Hong Kong and globally.

According to the latest report from Bloomberg Intelligence (BI) 1, the pet industry has become a new economic frontier. With pet owners willing to spend more and pets enjoying longer lifespans, the global pet industry is projected to expand rapidly over the next decade. By 2023, the pet industry is estimated to grow from the current US$320 billion to nearly US$500 billion. The report also highlights the growth in the global pet population and the increasing humanization of pets, which has driven the demand for premium pet food and services, fueling the continuous high-speed growth of the pet industry.

Furthermore, the analysis points out that with the extended lifespan of pets, people are investing more in pet-related healthcare expenses, including veterinary care, diagnostics, and medications. This trend is also driving the growth of the pet pharmaceutical market, which is projected to reach approximately US$25 billion by 2030. The analysis predicts that with the extended lifespan of pets and improved healthcare, there is an opportunity to accelerate the use of preventive care diagnostics, which has the potential to become a global market worth US$30 billion.

Taking multiple measures to strengthen the pet economy ecosystem and attract top industry collaborations worldwide

APEL, a research and development company focused on biomedical and biochemical products, has made significant contributions to pet health. In the field of pet health, their research and development of GERMAGIC(TM) PET is one of the few high-end pet health care products in Hong Kong that has obtained the Quality Pet Protection (QPP) certification. It utilizes GERMAGIC™’s encapsulation technology and molecular materials to comprehensively support and protect pet health. The QPP certification, established by the IBH Pet Development Standing Committee, aims to help pet owners make suitable purchasing decisions and promote higher quality standards in the pet industry, ensuring the well-being of pets.

APEL has positioned biotechnology and medical technology as diversified pillars of the pet economy and future growth. In line with this, APEL has established strategic partnerships with top companies in key areas and has developed an extensive blueprint for future development. Today, APEL announced a collaboration with Pet Space Group, the largest veterinary group in Hong Kong with veterinary clinics across Hong Kong, Kowloon, and the New Territories, as well as in Singapore, to jointly explore deep collaboration in developing the pet healthcare industry in the Greater Bay Area. Additionally, APEL has partnered with Life Star Biotech, a major medical supplies brand, to develop pet healthcare products using Life Star Biotech’s unique patented technology to extract the core component – silk fibroin, from silk. This collaboration combines APEL’s biomedical technology to create a joint line of high-end post-operative and rehabilitative care products for pets, enabling APEL to distribute these products globally and expand its international business presence.

The pet industry ecosystem is vibrant, and today, during the inauguration ceremony of the APEL Biomedical Technology Innovation and Translational Commercial Laboratory, APEL also organized a panel discussion on the future opportunities and transformations in the pet industry. Hong Kong experts in field of biotechnology and medical technology were invited to participate, including Professor Yeung King Lun from the Department of Chemical and Biological Engineering and Division of Environment and Sustainability at the Hong Kong University of Science and Technology; Mr. Jack Yuen, Deputy Director of Health & Nutrition and Sustainability Development at SGS Hong Kong Limited; Mr. Alan Lai, CEO of Pet Space Group and Ms. Melody Wang, Chairman of LifeStar Biotech.

Professor Yeung King Lun from the Department of Chemical and Biological Engineering and Division of Environment and Sustainability at the Hong Kong University of Science and Technology stated, “I congratulate APEL for the launch of their commercial research laboratory at the Hong Kong Science Park which will support a long-term partnership with The Hong Kong University of Science and Technology in translating research discovery into commercial offerings in the areas of health, environment, and sustainability that can have immediate positive impact on lives and well-being of Hong Kong people”

Mr. Jack Yuen, Deputy Director of Health & Nutrition and Sustainability Development at SGS Hong Kong Limited said, “With our expertise in health and hygiene, food nutrition, and relevant regulatory standards, the Quality Pet Protection (QPP) program aims to promote higher quality standards in the pet industry and ensure the well-being of pets. SGS is primarily responsible for the testing and certification aspects of the program, following safety standards from Europe and the United States (e.g. AAFCO) to conduct quality and safety testing for pet products. After the testing is completed, the relevant reports will be submitted to veterinary and toxicology experts for analysis and evaluation. Through the QPP program, certified products can help pet owners make informed and appropriate purchasing decisions with peace of mind. In the future, we hope to expand the QPP program to other neighboring regions.

Mr. Alan Lai, CEO of Pet Space Group, said “The pet industry in Hong Kong, especially pet hospitals, has always been a very traditional industry with little innovation or breakthroughs. We are delighted to see the implementation of the Quality Pet Program (QPP) in Hong Kong, which is an important breakthrough and innovation for the pet industry in the city. The QPP improves the standards of pet products and also safeguards the health and rights of pets. The collaboration between APEL and Pet Space Group is a testament to the collaborative efforts between pet research and pet hospitals in Hong Kong, promoting the development of the pet industry with an innovative and pet-centric approach. We hope that this collaboration model can expand to the Greater Bay Area and other countries, further promoting pet health, welfare, and most importantly, enhancing pet owners’ knowledge about pet health.”

Ms. Melody Wang, Chairman of Life Star Biotech, stated, “Corporate cooperation is not necessarily a win-win situation unless both parties share common ideas and goals. This cooperation between APEL and Life Star just illustrates the common perception between us. We hope to leverage each other’s strengths, APEL’s business power and Life Star’s R&D. Successfully expand our business not only to Hong Kong and the Greater Bay Area, but also to the entire Greater China and even the world.”

Brand value is a key driver in propelling the pet economy, and APEL has always been actively promoting and developing business alliances. Through a strategic partnership with Starlight Shenzhen, an internationally renowned content company deeply rooted in the Hollywood entertainment industry, APEL has initiated a series of collaborative efforts to establish an important strategic partner relationship. Starlight Shenzhen is the exclusive master licensor of the Garfield family IP in the Greater China region. Leveraging APEL’s innovation, leading technology, and the global influence of the Garfield family IP, the partnership aims not only to expand the market for both parties but also to establish a long-term and efficient business relationship while jointly establishing the core values of the brands. Together, they aim to promote the importance of pet health and family hygiene and enhance the quality of life in the Greater China region.

From left to right: Dr. Grace Lau, Head of Institute for Translational Research of Hong Kong Science and Technology Parks Corporation, Professor Yeung King Lun from the Department of Chemical and Biological Engineering and Division of Environment and Sustainability at the Hong Kong University of Science and Technology, Mr. Jackin Jim, Chairman of Yee Hop Holdings Limtied (Stock code: 1662.HK), Ms. Lillian Cheong, Under Secretary for Innovation, Technology and Industry of the Hong Kong Special Administrative Region, Dr. David Chung, Chairman of APEL and Dr. Aaron Shum, Founding President of Hong Kong – Middle East Business Chamber visited APEL Biomedical Technology Innovation and Translational Commercial Laboratory.

The pet industry ecosystem is vibrant, and APEL organized a panel discussion, inviting experts in biotechnology and medical technology to participate. The experts included (from left to right) Ms. Melody Wang, Chairman of Life Star Biotech, Mr. Alan Lai, CEO of Pet Space Group, Mr. Jack Yuen, Deputy Director of Health & Nutrition and Sustainability Development at SGS Hong Kong Limited, Professor Yeung King Lun from the Department of Chemical and Biological Engineering and Division of Environment and Sustainability at the Hong Kong University of Science and Technology and Dr. David Chung, Chairman of APEL.

From left to right: Group photo of Ms. Phoebe Ng, Chief Commercial Officer of GERMAGIC™ PET, Ms. Claire Lin, Executive Assistant of Starlight Shenzhen, and Mr. Neo Zhong, Managing Director (PRC) of GERMAGIC™ PET, combining innovative technology with the global influence of the Garfield family IP, and aim to explore the high-end market for pet care products.

APEL supports charitable activities and is committed to benefiting society. It proudly serves as the title sponsor of the “Social Inclusion Charity Run with Pets” which will be held on 17 March 2024. From left to right: Mr. Jackin Jim, Chairman of Yee Hop Holdings Limtied (Stock code: 1662.HK), Dr. David Chung, Chairman of APEL, Mr. Anthony Leung, General Manager of Business and Market Development at Metro Broadcast Corporation Limited, Ms. Phoebe Ng, Chief Commercial Officer of GERMAGIC™ PET, and Dr. David Chung, Chairman of APEL.

About APEL

Absolute Pure EnviroSci Limited (APEL), an indirect non-wholly owned subsidiary of Yee Hop Holdings Limited, a company listed on the Main Board of the Stock Exchange of Hong Kong Limited (Stock Code: 1662.HK), with a mission to improve the quality of life and living environment, is principally engaged in the business of distribution, research and development of specialty biomedical and biochemical products. APEL looks forward to working with researchers who aspire to help the green industries in Hong Kong grow, contributing together to the city and the Greater Bay Area’s low-carbon transformation and advance towards carbon neutrality, and also give the city impetus to pursue reindustrialization vital to her long-term prosperity.

Note:

1 Data source: https://www.bloomberg.com/company/press/global-pet-industry-to-grow-to-500-billion-by-2030-bloomberg-intelligence-finds/

For media enquiries, please contact:

Avy Yu Tel: +852 9500 4443 Email: avy.yu@ajacapital.com.hk

Eudice Law Tel: +852 9326 1113 Email: eudice.law@ajacapital.com.hk

MarketingPulse and eTailingPulse attract 1600 industry professionals

The parallel MarketingPulse and eTailingPulse conferences at the Hong Kong Convention and Exhibition Centre (HKCEC) today featured about 80 speakers from around the world who presented at over 30 sessions, InnoTalks and digital marketing and e-tailing workshops.
The conferences attracted more than 1600 industry professionals from 20 countries and regions
Discussions focused on technology; AI futurist Zack Kass revealed the opportunities AI brought and suggested marketers embrace the change with optimism

HONG KONG, Mar 13, 2024 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) held the parallel MarketingPulse and eTailingPulse conferences at the Hong Kong Convention and Exhibition Centre (HKCEC) today. Themed Envision the Next Level, the conferences featured over 30 sessions, InnoTalks and digital marketing and e-tailing workshops, attracting more than 1600 industry professionals from 20 countries and regions.

In her welcoming remarks, HKTDC Executive Director Margaret Fong said: “The marketing and e-tailing industries are in constant search of innovative strategies that can reinforce those treasured connections between brands and their consumer base. And that is what MarketingPulse and eTailingPulse are about. This two-in-one event brings together the most creative minds from around the world to exchange insights on the latest trends and opportunities in marketing and e-tailing and to facilitate collaboration.”

Some 80 speakers from across the globe addressed topics ranging from AI marketing, purpose marketing, national trends and K-Pop for marketing. On targeting age groups, speakers discussed tactics and strategies for the Gen Alpha and silver markets. Other speakers discussed sustainability, sensory marketing, genderless marketing and brand storytelling.

AI and other technologies change marketing world

Having radically changed the world, artificial intelligence is playing a growing role in marketing. AI Futurist Zack Kass, former Head of Go To Market at OpenAI, analysed AI trends in marketing, said AI adoption was creating more powerful, efficient agents in the industry. “It’s no longer when you should adopt, but what you should adopt,” Mr Kass said, emphasising the urgency. On the public concerns that AI agents would replace human beings, Mr Kass said: “We get to decide what is the line between human and machine and we want to be very clear about it.” He urged his audience to “embrace the change with optimism”.

Karen Cheng, the Head of Social at 9GAG, discussed the transformative impact of memes on brand engagement and content creation in the Web3 era. She said that using memes involved a long-term strategy which impacted business, and pointed out that technology impacted all ages groups. She said: “Business should constantly create value for these holders and influence people to create a community.”

National trends define direction

The national trends discussion combined Chinese elements with contemporary cultural trends. Yinan Wang, Director of the Digital and Information Management Centre and iMoutai Department, Kweichow Moutai, described how the brand innovatively brought the national beverage Moutai to the younger generation. He said the firm established a Maoxiaoling brand of liquor infused chocolates with a trendy image to target customers aged 25 to 50. Mr Wang said: “Youth easily change their tastes, the focus is how to keep them with you, this is the challenge.”

Purpose marketing success story

Purpose marketing has received significant attention. Ibby Abutarboush, former Brand Defining & Purpose Marketing Director of Nike, emphasised the importance of brand-building and consumer experiences, saying: “It is very important to understand your consumer and your community. Change is ever constant, and our community is becoming more global than ever.” On the experience of Nike brand building, he believed the power of sport was underpinned by the power of people. He emphasised the importance of staying committed and working with the right partners.

Overseas marketing experts presented their ideas, including Jungsuk Jay Lee, recent Chief Ecosystem Officer of NAVER Z Corp (ZEPETO); Dani Mariano, President of Razorfish; Simon Barnett, Director of Brand Partnerships & Advertising of Moonbug Entertainment, which distributes IP rights for children’s entertainment brands Blippi and Cocomelon; Giovanni Musillo, Managing Director (Hong Kong and Macao) of OnTheList; Patrick Garvey, Founding Partner of WE ARE Pi, a renowned advertising agency in the Netherlands; Yoji Minakuchi, Fellow & Chief Design Officer of Suntory Holdings from Japan; Johanna Monange, Founder and CEO of Maison 21G, a perfume brand from France; Julie Nestor, Executive Vice President, Head of Marketing and Communications of Asia Pacific for Mastercard; and Bradley Horowitz, CEO of MALIN+GOETZ, a skincare brand from New York.

Participants exchange insights, seize opportunities

At the conferences, 40 marketing services and e-commerce solutions suppliers presented diverse and quality marketing services to attendees from Hong Kong and overseas. At the event to find service providers, Trai Sasatavadhana, Business Development Director from Ananda Development Public Company Limited, Thailand, welcomed the exhibition. He said: “The event exceeded my expectations, and I can really feel that the city is ready to restart. There were a lot of interesting solutions, great speakers and topics discussed.”

More than 150 business matching sessions helped brand and marketing company representatives work together. At the end of the event, a performance by singers JW and DJ King helped attendees unwind, connect and broaden their networks.

Supports from industry facilitate interaction

MarketingPulse and eTailingPulse were supported by a number of organisations and industry associations, including the Hong Kong Federation of E-Commerce, Hong Kong Federation of Live Commerce, Hong Kong Public Relations Professionals’ Association, Hang Seng Bank, EternityX and the Association of Accredited Advertising Agencies of Hong Kong, and IAB Hong Kong powered by HKDMA.

Video on-demand pass available until 13 April

Industry professionals will be able to access the online MarketingPulse & eTailingPulse platform from tomorrow, 14 March, until 13 April, offering a chance to take advantage of the many features of the platform and revisit the events online.

MarketingPulse website: https://marketingpulse.hktdc.com/conference/mp/en
eTailingPulse website: https://etailingpulse.hktdc.com/conference/etp/en

Photo download: https://bit.ly/43enXZE

HKTDC Executive Director Margaret Fong said in her welcoming remarks that the conferences brought together the most creative minds from around the world to exchange insights on the latest trends and opportunities in marketing and etailing and facilitate collaboration

The parallel MarketingPulse and eTailingPulse conferences concluded successfully today, attracting more than 1600 global attendees from 20 countries and regions

AI Futurist Zack Kass, former Head of Go To Market at OpenAI, analysed the trends of AI in marketing.

Ibby Abutarboush (right), former Brand Defining & Purpose Marketing Director of Nike, emphasised the importance of brand-building and consumer experiences

Karen Cheng, the Head of Social at 9GAG, discussed the transformative impact of memes on brand engagement and content creation in the Web3 era

Yinan Wang (right), Director of the Digital and Information Management Centre and iMoutai Department, Kweichow Moutai, told attendees how the brand innovatively brought the national beverage Moutai to the younger generation

Media enquiries
Please contact the HKTDC’s Communications & Public Affairs Department:
Katy Wong, Tel: (852) 2584 4524, Email: katy.ky.wong@hktdc.org
Phyllis Tsang, Tel: (852) 2584 4288, Email: phyllis.km.tsang@hktdc.org

HKTDC Media Room: http://mediaroom.hktdc.com

About HKTDC

Moolec Science Presents Second Quarter Fiscal Year 2024 Business Update

Luxembourg, Mar 13, 2024 – (ACN Newswire) – Moolec Science SA (NASDAQ:MLEC) a science-based food ingredient company focused on producing animal proteins in plants through Molecular Farming technology, announced today its Business Update for the second quarter of Fiscal Year 2024 ended December 31, 2023.

Moolec Logo
Moolec Science Logo

The main highlights of Moolec’s business update are as follows:

SOOY1 | Piggy Sooy™ Platform: Third generation (T3) soybean seed propagation has started, and fourth generation (T4) seeds are expected to be harvested in April 2024. A molecular analysis reveals that the current T3 soybean population contains a stable number of porcine myoglobin gene copies consistent with a population that is not segregating.
PEEA1: Scientific team confirms the presence of bovine myoglobin gene in pea seeds and the gene’s stable inheritance across plant generations.
YEEA1: Moolec´s prototyping platform includes a novel yeast strain that is being developed as a dietary supplement and food ingredient, and Moolec has begun the first of several pre-submission consultations with US-FDA.
Product Marketing: The next generation of textured plant-protein prototypes produced at Moolec’s industrial and commercial R&D center were presented to the public in Gulfood 2024.
Financial highlight: Capital Raise of ~$30M with $10M in cash and ~$20M in kind contributions materialized in October 2023 with strategic investors through a convertible note followed by an additional ~$1M raised with farmers in December 2023. Revenues and other income (Ex-IAS 29) of ~$1.7M slightly down QoQ. R&D, Admin and other Expenses in line with historical track record of cost efficiency. Operational cash utilization of ~$4M includes ~$2.7M allocated to lower accounts payable.

“This quarter has been a testament to the dedication and hard work of our team. We have made steady progress in our research and development efforts as well as product development. I am incredibly proud of our team’s delivery and execution. Thank you to the Moolers, and to our partners for their continued support,” stated Gastón Paladini, Chief Executive Officer and Co-Founder of Moolec Science.

“Our financial position reflects our commitment on multiple fronts. The strategic partnerships we have formed, most recently with farmers, will be instrumental not only in our funding health, but also contribute to support Moolec’s product growth and commercialization in the near future,” declared José López Lecube, Chief Financial Officer for the company. He then continued by saying: “As we move forward, we remain focused on maintaining a healthy financial position and are confident in our ability to navigate the next stages of our growth.”

Conference Call

Management will host a Conference Call and question-and-answer session, which will be accompanied by a presentation available during the webinar.

To access the call, please use the following information:

Date: Wednesday, March 13, 2024
Time: 08:30 AM Eastern Time (US and Canada)
Link to join the webinar: https://icrinc.zoom.us/j/92375922161?pwd=Qmt6NzdVUGNWaEhTT1NDOHU3Tjlydz09
One tap mobile: +13017158592,,92375922161#,,,,*888246# US
Dial In: +1 301 715 8592 US | Webinar ID: 923 7592 2161, Passcode: 888246
International numbers available: https://icrinc.zoom.us/u/acVKYeTJwM

Please connect 5 minutes prior to the start time to register and join.

A recording of the call and the pdf version of the presentation will be available after the conclusion of the live event via Moolec’s Investor Relations website.

About Moolec Science SA

Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food. The Company’s mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal-based food, for good and for all. Moolec’s technological approach aims to have the cost structure of plant-based solutions with the organoleptic properties and functionality of animal-based ones. Moolec’s technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company’s product portfolio and pipeline leverages the agronomic efficiency of broadly used target crops, like soybean and safflower. Recently, it acquired plant-based ingredient capabilities to consolidate Molecular Farming Technology. Moolec has a growing international patent portfolio (26, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of Ph.Ds and Food Insiders, and operates in the United States, Europe, and South America.

Forward-Looking Statements

This press release contains “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec’s business and other risks and uncertainties, including those included under the header “Risk Factors” in the Moolec’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as well as Moolec’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of Moolec’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.

Contact Information
Catalina Jones
Chief of Staff & Sustainability
comms@moolecscience.com

Investor Relations
ir@moolecscience.com

Michael Bowen
ICR, LLC
moolecir@icrinc.com

SOURCE: Moolec Science

View the original press release on newswire.com.