Tag: Africa

Quantexa’s Decision Intelligence Platform and Financial Crime solutions credited for driving efficiencies through automation and enriching graph analytics and network analysis

LONDON and NEW YORK, July 19, 2023 (GLOBE NEWSWIRE) — Today Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced that it has been recognized by Celent, a global research and advisory firm providing technology expertise to key decision makers at financial institutions, for its standout technology in the 2023 xCelent Anti-Money Laundering (AML) Transaction Monitoring (TM) Report, an independent resource helping financial institutions select an AML vendor best suited to meet their needs. Celent’s report profiled 17 AML TM systems available globally, including an overview of their functionality, customer base, technology, implementation, pricing, and support, to help key financial institutions navigate the market.

Celent credited Quantexa for “pioneering the use of entity resolution […] to power granular, deep network analysis to support the forensic investigation of financial crimes.” Key benefits highlighted include the platform’s ability to “resolve internal transaction and customer data as well as external data […] pertaining to entities, transactions and other activities, and counterparties to generate highly enriched network analyses of associated accounts that can surface risk insights,” and “to automate much of the investigative process, thereby increasing analyst efficiency.”

Customers rated Quantexa’s Decision Intelligence Platform and AML solutions strongly overall, with the speed of implementation and the flexibility of the data model receiving the highest scores for implementation experience and technology respectively. They also appreciated the platform’s graph analytics and network/link analysis capabilities. Respondents noted the Quantexa team’s knowledge of their solution and relevant technology. One client cited “a strong level of service and responsiveness compared to other vendor experiences.”

Quantexa’s Chief Product Officer, Dan Higgins, said: “Being recognized as a best-in-class provider for AML solutions by Celent is a true testament to the innovation and value we deliver to our clients. We continually strive to bring best-in-class solutions to our clients, helping them turn information into insight and insight into the ability to protect, optimize, and grow their organizations. Having Celent recognize our solution for the depth of impact it delivers, as well as our teams’ breadth of knowledge, which is helping to aid in the forensic investigations of financial crime, is inspiring and rewarding.”

Quantexa’s platform gives leading banks, fintechs and regulators the ability to understand their data by connecting siloed systems to protect, optimize and grow. By protecting and fighting against financial crime, Quantexa clients can become more resilient, visualize hidden risks at speed, and make more informed and trusted decisions about AML risk.

To download the Celent report which profiles Quantexa’s Decision Intelligence solution for AML Transaction Monitoring, visit Quantexa’s website here.

About Quantexa
Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 650 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, Dublin, New York, Boston, Washington DC, Toronto, UAE, Malaga, Amsterdam, Luxembourg, Brussels, Melbourne, Sydney and Singapore. For more information, please visit www.quantexa.com or follow us on LinkedIn.

Media Enquiries
C: Stephanie Crisp, Associate Director and Media Strategist, Fight or Flight
E: [email protected]

C: Adam Jaffe, SVP of Corporate Marketing
T: +1 609 502 6889
E: [email protected]
– or –
[email protected]

GlobeNewswire Distribution ID 1000830542

Basseterre, July 19, 2023 (GLOBE NEWSWIRE) — St Kitts and Nevis has yet again strengthened the administration of its Citizenship by Investment (CBI) Programme, announcing that all main applicants are to partake in a mandatory interview as part of the application process to its investment migration programme.

The twin-island Federation becomes one of the first Caribbean nations to introduce the soon-to-be industry standard. Instituted by regulations published on July 19, 2023, the new policy applies to all applications, including those already received but not yet approved by the Citizenship by Investment Unit (CIU). The new regulations also provide that dependants may be asked to be interviewed.

This new step in St Kitts and Nevis’ CBI application process confirms that St Kitts and Nevis has now fully implemented the six principles agreed between the United States of America and governments of the five Caribbean nations with Citizenship by Investment Programmes in a roundtable meeting held on February 25, 2023. That meeting was convened to discuss and agree on common ways to deal with threats to international communities in the investment migration ecosystem.

The five Caribbean participating governments are Antigua & Barbuda, Dominica, Grenada, St Kitts and Nevis and Saint Lucia. Their Prime Ministers and other senior state officials met with a USA delegation led by Anna Morris, Deputy Assistant Secretary at the USA Department of Treasury.

The group collectively committed to six CBI principles proposed by the USA, several of which were already adopted by the five Caribbean participating governments of their own volition as part of their risk management framework to strengthen and safeguard the integrity of their CBI programmes.

The six principles agreed were:

1. Treatment of denials: Not to process applications from persons whose applications have been denied in another CBI jurisdiction, by proactively sharing information on denials.
2. Interviews: Conduct interviews with applicants, whether virtual or in-person.
3. Additional checks: Each jurisdiction will run checks on each application with the Financial Intelligence Unit of its respective country.
4. Audits: Audit the Programme annually or every two years in accordance with internationally accepted standards.
5. Retrieval of passports: Request law enforcement assistance to retrieve revoked/recalled passports.
6. Treatment of Russians and Belarusians: Suspend processing applications from Russians and Belarusians.

A delegation from St Kitts and Nevis, headed by the country’s Prime Minister, Terrance Drew, also attended this year’s annual European Union-Community of Latin American and Caribbean States Summit (EU-CELAC) Summit in Brussels.

During the Summit, St Kitts and Nevis, along with the other Caribbean CBI islands, met with the European Commission and agreed to establish a joint task group to engage the stakeholders and keep both regions abreast of ongoing developments and find a common ground to work from.

“We are very happy about how the meeting went in Brussels. There is definitely a spirit of cooperation between ourselves and the European Commission, and we will continue to make our efforts in mitigating international security risk very clear so all our international partners are confident of the integrity of our programme,” noted Prime Minister Drew.

The third edition of EU-CELAC was held from July 17 to July 18, 2023, and aims to discuss key matters of interest that impact the Caribbean and the European Union and effective resolutions.

From July 19, 2023, main applicants, 16 years and older, for St Kitts and Nevis’ CBI programme will be required to be interviewed – virtually or in person – as part of the application process.

Head of St Kitts and Nevis’ Citizenship by Investment Unit, Michael Martin, commented that “St Kitts and Nevis remains committed to cooperating with our international stakeholders and takes the safety and integrity of our Citizenship by Investment Programme extremely seriously.”

Due diligence and risk mitigation remain a very important aspect of how St Kitts and Nevis approaches its CBI programme.

The country has one of the best regulated programmes in the world. St Kitts and Nevis is the only country with a CBI Board of Governors responsible for providing general oversight of the operations their CBI Unit; developing and implementing policies and procedures; ensuring that application processing is completed within the timeframes advertised without compromising the integrity of the programme; and constantly monitoring the global investor immigration industry to ensure that the country’s CBI Regulations align with international market forces.

The country is the also the only one with a CBI Technical Committee charged with ensuring all due diligence background checks are comprehensive in keeping with the country’s multi-sectoral good governance transformation into a sustainable island-state.

Caribbean CBI nations remain at the pinnacle of due diligence excellence and St Kitts and Nevis continues as a trailblazer for many CBI nations across the world.

The due diligence for the St Kitts and Nevis CBI Programme is conducted by highly respected international due diligence agencies from the USA, Canada and the United Kingdom, and vetted by the CBI Unit, Financial Intelligence Unit and international policing authorities. These agencies work together to facilitate a multi-layer due diligence investigation online and on-the-ground.

St Kitts and Nevis boasts the oldest CBI programme in the Caribbean, established in 1984, and continues to be a firm favourite among international investors across the world.

Secretary of St Kitts and Nevis Citizenship by Investment
Government of St. Kitts and Nevis
001 (868) 467 1474
[email protected]

GlobeNewswire Distribution ID 8877083

LONDON, July 18, 2023 (GLOBE NEWSWIRE) — Japan has been knocked off the top spot on the Henley Passport Index for the first time in five years and bumped into 3^rd place, according to the latest ranking, which is based on exclusive and official data from the International Air Transport Association (IATA). Singapore is now officially the most powerful passport in the world, with its citizens able to visit 192 destinations out of 227 around the world visa-free. Germany, Italy, and Spain all move up into 2^nd place with visa-free access to 190 destinations, and Japanese passport holders join those of six other nations — Austria, Finland, France, Luxembourg, South Korea, and Sweden — in 3^rd place with access to 189 destinations without a prior visa.

The UK appears to have finally turned the corner after a six-year decline, jumping up two places on the latest ranking to 4^th place — a position it last held in 2017. The US, on the other hand, continues its now decade-long slide down the index, plummeting a further two places to 8^th spot with access to just 184 destinations visa-free. Both the UK and the US jointly held 1^st place on the index nearly 10 years ago in 2014, but have been on a downward trajectory ever since. Afghanistan remains entrenched at the bottom of the Henley Passport Index, with a visa-free access score of just 27, followed by Iraq (score of 29), and Syria (score of 30) — the three weakest passports in the world.

The general trend over the history of the 18-year-old ranking has been towards greater travel freedom, with the average number of destinations travelers are able to access visa-free nearly doubling from 58 in 2006 to 109 in 2023. However, the global mobility gap between those at the top and bottom of the index is now wider than it has ever been, with top-ranked Singapore able to access 165 more destinations visa-free than Afghanistan.

Dr. Christian H. Kaelin, Chairman of Henley & Partners, says only eight countries worldwide have less visa-free access today than they did a decade ago, while others have been more successful in securing greater travel freedom for their citizens. “The UAE has added an impressive 107 destinations to its visa-free score since 2013, resulting in a massive leap of 44 places in the ranking over the past 10 years from 56^th to 12^th position. Of the countries sitting in the Top 10, the US has seen the smallest increase in its score, securing just 12 additional destinations. Singapore, by comparison, has increased its score by 25, pushing it up five places over the past 10 years to number one.”

Commenting in the Henley Global Mobility Report 2023 Q3, released today alongside the latest index, Greg Lindsay from Cornell Tech’s Jacobs Institute, says that from a purely mechanical perspective, “the story is a simple one — by more or less standing still, the US has fallen behind. While its absolute score has in fact risen over the last decade, the US has been steadily overtaken by rivals such as South Korea, Japan, and Singapore. America’s relentless slide down the rankings is a warning to its neighbor Canada and the rest of the Anglosphere as well.”

The links between visa-free access and openness

Henley & Partners has conducted exclusive new research into the relationship between a country’s openness to foreigners — how many nations it allows to cross its borders visa-free — and its own citizens’ travel freedom. The new Henley Openness Index ranks all 199 countries worldwide according to the number of nationalities they permit entry to without a prior visa.

The Top 20 ‘most open’ countries are all small island nations or African states, except for Cambodia. There are 12 countries that are completely open to all passports and four that don’t allow anyone in visa-free. While the correlation between a high openness score and high visa-free access score is not straightforward, it is notable that Singapore and South Korea — high climbers on the Henley Passport Index Top 10 over last decade, moving up from 6^th and 7^th respectively in 2013 to 1^st and 3^rd today — boast relatively high degrees of openness compared to the 5 countries with the biggest disparity between the travel freedom they enjoy, versus the visa-free access they provide to other nationalities. US, Canada, Australia, New Zealand and Japan have all either slid down the ranking or remained in the same place as their openness stagnates.

Prof. Peter J. Spiro, who holds the Charles Weiner Chair in international law at Temple University, says America’s extension of visa-free access is low, even by the standard of developed economies. “EU states grant visa-free privileges to more than twice the number of states than does the US. Processing delays, high refusal rates, and a reputation for disagreeable customer service are tarnishing the attractiveness of the US as a destination. Add to that the growing reputation of the US as ridden with gun violence and one can project a long-term trajectory in which US global standing further erodes.”

Read the full Press Release

Media Contact

Sarah Nicklin

Group Head of PR

[email protected]

Mobile: +27 72 464 8965

GlobeNewswire Distribution ID 1000830180

WHR Global Shapes Clients’ Policies to Ensure Benefits Offerings Are Competitive in the Market

MILWAUKEE, July 17, 2023 (GLOBE NEWSWIRE) — WHR Global (WHR), a leader in the global employee relocation industry, announced the release of its international 2023 Allowances & Per Diems Benchmark Report called “Ask an Expert!”

At WHR, our mission is to provide clients with superior relocation services, and to do so, we need to be in tune with the global cost of living. To accomplish this, we created the Ask an Expert 2023 Allowances & Per Diems Benchmark Report, a comprehensive guide to understanding the true cost of living, not just in one city, but in many cities worldwide.

“Drawing from my own personal experience as a former expat residing in Switzerland, and a former relocation coordinator, I bring a deep understanding of the challenges and intricacies of international relocation,” said Sean Thrun, Strategic Initiatives Manager at WHR. “This benchmark report and firsthand knowledge equips WHR with the ability to provide valuable insights and guidance to mobility teams, enabling them to navigate the complexities of global assignments more effectively.”

The Report includes 8.8 million price submissions from 11,000 cities, and prices benchmarked by country include rental prices for 1 & 3 bedrooms both inside and outside of city centers, common utilities costs per month, local transportation, and more. Understanding the ground realities of cost of living helps relocation teams create scalable solutions and helps businesses have more productive moves, making the transition for employees smoother than ever.

The Report allows businesses to “check the pulse” of their allowances and per diems, whether they choose to administer fixed amounts globally, or variable by location. If global mobility teams find that the allowances and per diems offered to their employees are lower than the average for that country, contact WHR today for a free consultation, including a breakdown of the benchmark report by city.

Global mobility teams may use this Report, which covers 99 countries, to benchmark the following:

• Monthly housing allowances for assignments & commuters,
• Monthly utilities allowances for assignments & commuters,
• Monthly transportation allowances for assignments & commuters,
• Transportation per diems for preview and home finding trips, and
• Meal per diems for preview and home finding trips.

Whether you are a relocation manager or a business leader, investing in the Ask an Expert 2023 Allowances & Per Diems Benchmark Report today can help you make the most informed decisions for your relocation budget and employee benefits policies.

See more data and download the complete 2023 Allowances & Per Diems Benchmark Report “Ask an Expert” here.

The Ask an Expert 2023 Allowances & Per Diems Benchmark is intended for informational purposes only.

About WHR Global

WHR Global (WHR) is a private, client-driven global relocation management company distinguished by its best-in-class service delivery and cutting-edge, proprietary technology. WHR has offices in the United States, Switzerland, and Singapore. With its 100% client retention rate for the past decade, WHR continues to position itself as the trusted leader in global employee relocation. WHR lives by its vision and passion for Advancing Lives Forward® and Making the Complex Simple. To learn more about WHR, visit https://www.whrg.com/, or follow on LinkedIn or Twitter.

Contact:
Sean Thrun, Strategic Initiatives Manager
+1-262-746-1314
[email protected]

GlobeNewswire Distribution ID 8874927

BRISBANE, Australia,, July 13, 2023 (GLOBE NEWSWIRE) — Vytelle, a precision livestock company, is progressing on their five-year plan to provide accessible, hormone-free, bovine in vitro fertilisation to producers across the globe. Announced today, Vytelle has expanded to Brisbane, Australia with its sixteenth global laboratory.

Vytelle’s integrated technology platform combines Vytelle ADVANCE, a breakthrough in vitro fertilisation (IVF) technology, with Vytelle SENSE, an animal performance data capture system, and Vytelle INSIGHT, an artificial intelligence based genetic analytics engine.  The platform provides progressive cattle producers the technology to make reliable data-driven mating decisions that improve the predictability of genetic progress, replicating the right genetics faster.

The Brisbane-based, Australia laboratory brings accessibility to modern reproduction technology like never before to Australia’s eastern states’ beef herds. Vytelle’s hormone-free in vitro fertilisation process, including their proprietary media, will deliver high-quality embryos to producers allowing them to make more valuable calves, faster to maximise sustainability.

“Vytelle is the fastest growing bovine IVF company in the world,” commented Kerryann Kocher, CEO of Vytelle. She continued, “We are thrilled to open our doors in Brisbane, positioning Vytelle to serve 70% of the total beef herd in Australia from this location.”

 Vytelle has a long history in Australia through its Vytelle SENSE phenotypic data capture technology to measure and select for feed efficiency. With this investment, Vytelle is positioned to help Australian producers improve efficiencies and make faster genetic progress across the supply chain to consistently market more efficient and sustainable beef. “The large-scale adoption of IVF will be driven by the successful use of frozen embryos,” stated Andrew Donoghue, Regional Manager for Australia and New Zealand. He continued, “Unlike other technologies, the Vytelle system allows us to deliver frozen results producers can count on, providing reliable IVF to herds historically underserved with fresh programs.”

The Australian-based team is serving beef and dairy producers with on-farm ovum pick-ups immediately. Visit www.vytelle.com or contact Andrew Donoghue at [email protected] or +61 428 442 1555 to accelerate your herd’s genetic progress today.

Attachment

• Vytelle Expands to Brisbane, Australia

Andrew Donoghue
Vytelle
+61 428 442 1555
[email protected]

GlobeNewswire Distribution ID 8874359

Companies to collaborate on software for biotech and pharmaceutical companies to create improved patient treatments faster

SALT LAKE CITY, TORONTO and MONTRÉAL, July 12, 2023 (GLOBE NEWSWIRE) — Recursion (NASDAQ: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today announced a $50 million investment by NVIDIA, which was executed as a private investment in public equity (PIPE). Recursion also announced plans to accelerate development of its AI foundation models for biology and chemistry, which, in collaboration with NVIDIA, it intends to optimize and distribute to biotechnology companies using NVIDIA cloud services.

“Our collaboration with NVIDIA represents two best-in-class companies coming together to help solve one of the world’s most difficult challenges, drug discovery,” said Chris Gibson, Ph.D., Co-founder and CEO of Recursion. “With our powerful dataset and NVIDIA’s accelerated computing capabilities, we intend to create groundbreaking foundation models in biology and chemistry at a scale unlike anything that has ever been released in the biological space.”

Recursion plans to utilize its vast proprietary biological and chemical dataset, which exceeds 23 petabytes and 3 trillion searchable gene and compound relationships, to accelerate the training of foundation models on NVIDIA DGX Cloud for possible commercial license/release on BioNeMo, NVIDIA’s cloud service for generative AI in drug discovery. NVIDIA will also help optimize and scale Recursion foundation models leveraging the NVIDIA AI stack and NVIDIA’s full-stack computing expertise. BioNeMo was announced earlier this year as a cloud service for generative AI in drug discovery, offering tools to quickly customize and deploy domain-specific, state-of-the-art biomolecular models at-scale through cloud APIs. Recursion anticipates using this software to support its internal pipeline as well as its current and future partners.

“Generative AI is a revolutionary tool to discover new medicines and treatments,” said Jensen Huang, founder and CEO of NVIDIA. “We are delighted to collaborate with Recursion’s world-class team, which is doing pioneering work in digital biology and chemistry with NVIDIA DGX and NVIDIA AI software to accelerate the development of the world’s largest biomolecular generative AI models and speed drug discovery for biotech and pharmaceutical companies.”

Recursion, through its recent acquisition of Valence Discovery, aims to accelerate the development of new technologies to feed the biopharma industry, while simultaneously democratizing access to large-scale models that have maximum impact in drug discovery.

About Recursion
Recursion (NASDAQ: RXRX) is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest proprietary biological and chemical datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology, and chemistry to advance the future of medicine.

Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, the Utah life sciences industry collective. Recursion also has offices in Toronto, Montréal and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on Twitter and LinkedIn.

Media Contact
[email protected]

Investor Contact
[email protected]

Forward-Looking Statements
This document contains information that includes or is based upon “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, those regarding the acceleration and advancement of development of AI foundation models, as well as optimizing, licensing, and distributing such models; using BioNeMo software to support Recursion’s internal pipeline and well as Recursion’s current and future industry partners; Recursion accelerating development of new technologies through its Valence Discovery acquisition; and all other statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “plan,” “will,” “expect,” “anticipate,” “intend,” “believe,” “potential,” “continue,” and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; our ability to leverage and enhance our drug discovery platform; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. All forward-looking statements are based on management’s current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.

GlobeNewswire Distribution ID 8872969

QUEBEC CITY, July 12, 2023 (GLOBE NEWSWIRE) — LeddarTech^®, an automotive software company that provides patented disruptive low-level sensor fusion and perception software technology for ADAS and AD, is thrilled to announce the successful integration of LeddarTech’s advanced LeddarVision software with Ficosa’s cutting-edge surround-view camera system, along with other sensors such as radars, IMU and GPS. Ficosa is a leading global company dedicated to the research, development, production and marketing of advanced vision, safety and efficiency solutions for the automotive industry.

This significant milestone marks a major step forward in the strategic collaboration announced in December 2022 by Ficosa regarding integrating the LeddarVision software into Ficosa’s advanced driver assistance systems (ADAS) for parking. LeddarVision is a high-performance sensor fusion and perception software stack that provides extremely accurate 3D models of the vehicle’s surroundings, developed using raw data inputs from sensor systems. Integrating this software with Ficosa’s renowned vision technology unlocks the full potential of this software to enable Ficosa’s smart parking assistant for ADAS and AD.

In pursuit of their shared vision towards the consolidation of the autonomous vehicle, LeddarTech and Ficosa continue to strengthen their strategic collaboration towards developing a pioneering Intelligent Parking Assistance system, allowing even more detailed and precise perception of the surroundings. The hardware and software system architecture teams will begin equipping a car in Israel that will be used, in collaboration, to develop and demonstrate the smart parking assistance perception and driving features. Following this, two other vehicles in Europe will be added to the fleet showcasing the full software and hardware implementation for smart parking assist.

“LeddarTech is very pleased to partner in this collaboration and celebrate the success of integrating our LeddarVision software and Ficosa vision technology.” So stated Charles Boulanger, CEO of LeddarTech. “This relationship is driven by our commitment to pushing the boundaries of automotive technology by delivering cutting-edge solutions that enhance safety, efficiency and driver experiences. Our team is very excited to continue working with Ficosa on the next phase of the collaboration,” Mr. Boulanger concluded.

“At Ficosa, we strive to contribute to building a safer, more comfortable and efficient mobility of the future for everyone,” stated Josep Maria Forcadell, Chief Technology Officer at Ficosa. “In this sense, this innovative, intelligent automatic parking assistant that combines the fusion of LeddarTech’s low-level sensor and perception capabilities and Ficosa’s surround-view camera system will have a significantly positive impact, providing even more detailed and accurate perception of the environment,” Mr. Forcadell concluded.

About Ficosa

Ficosa is a leading global company dedicated to the research, development, production and marketing of advanced vision, safety and efficiency solutions for the automotive industry, with a vocation to contribute to society through its commitment to technological innovation, human values and energy efficiency. Founded in 1949 and with headquarters in Barcelona, Ficosa currently employs more than 8,500 people and has production and R&D centers and sales offices in Europe, North and South America, Asia and Africa. The Rear-View System (interior/side mirror) is Ficosa’s main, globally renowned business, which is recognized by the world’s leading original equipment manufacturers (OEMs). www.ficosa.com

Social media: Twitter @FICOSA_Int; LinkedIn Ficosa

For more information: Ficosa Communication Department
Mònica Acero: [email protected] +34 615 07 59 81
Pau Guerrero: [email protected]

About LeddarTech

A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal, Toronto and Tel Aviv, Israel, LeddarTech develops and provides comprehensive perception software solutions that enable the deployment of ADAS and autonomous driving (AD) applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment, allowing for better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

LeddarTech is responsible for several remote-sensing innovations, with over 150 patents granted or applied for that enhance ADAS and AD capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter, Facebook and YouTube.

Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Inc. Tel.: + 1-418-653-9000 ext. 232 [email protected]

• Investor relations website: https://investors.leddartech.com
• Investor relations contact: Kevin Hunt, ICR Inc. [email protected]
• Financial media contact: Dan Brennan, ICR Inc. [email protected]

Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

GlobeNewswire Distribution ID 8871621

Sustainable hot melt adhesives pave the way for textile reworking and recycling.

Bedford, Mass., July 11, 2023 (GLOBE NEWSWIRE) — When more than 92 million tons of textile waste are landfilled annually, new solutions are needed to enable fabric reworking in manufacturing and recycling on a mass scale. Conagen, the biotechnology innovator, announced the development of a groundbreaking debondable textile adhesive made from high-performance materials sourced from sustainable and natural biomolecules.

Conagen’s debondable adhesive offers a major application in the realm of reworkability during clothing production. Traditionally, when mistakes occur during manufacturing, it can lead to material wastage and additional production costs.

The reworkability aspect of Conagen’s adhesive presents a game-changing solution for the clothing industry. It allows for quick and efficient correction of errors without the need to discard and waste valuable materials. Adjustments can be made by simply debonding the adhesive and the fabric components can be seamlessly reworked, resulting in improved production efficiency, reduced material waste, and significant cost savings for manufacturers.

Moreover, debonding textile fabric plays a vital role in textile recycling by enabling efficient material separation, preserving material quality, expanding recycling opportunities, and advancing the goals of a circular economy.

Traditional adhesives used in garment manufacturing often create a permanent bond, making it challenging to separate fabric components during recycling. Conagen’s debondable adhesive not only drives sustainability through fabric recycling but also offers a practical and economical solution for optimizing production processes in the clothing industry. The ability to debond and rework materials bring newfound flexibility and efficiency, benefiting manufacturers and the environment.
Top of Form
Bottom of Form

“Conagen’s pioneering adhesive has unlocked new possibilities and opportunities. This groundbreaking development enables efficient material separation during reworking and recycling processes and preserves the integrity of textile fibers, ensuring their quality for future utilization,” stated Sara Johnson, senior materials scientist. “With the introduction of Conagen’s adhesive, we are taking a significant stride towards achieving a more sustainable and environmentally responsible textile industry.”

Having previously created debondable adhesives for other sectors, such as appliances, smartphones, cars, and more, Conagen identified the significant benefits such an adhesive could bring to the textile and clothing industry and tailored a new product specifically to its needs.

Adhesives and tapes are commonly used today in garment manufacturing, either alone or in combination with stitching. This is particularly evident in the manufacturing of women’s underwear, where up to six layers of material are often glued together to achieve the desired fit and comfort. It is essential to bring attention to these modern manufacturing methods as they reflect the evolution of textile production.

Conagen’s new adhesive offering provides strength comparable to existing fabric adhesives but with the added feature of controlled debondability at end-of-life. Inspired by self-healing materials, Conagen utilizes sustainable and natural ingredients to create high-strength debondable hot melt adhesives. Unlike traditional offerings, this new adhesive is designed with reversibility, exhibiting the strength of conventionally cured adhesives, with the added benefit of transitioning to a flowable material after heating.

Conagen’s high-strength debondable textile adhesive can be used for garments, but also extends to accessories and other soft goods applications. Furthermore, the technology is compatible with both natural and synthetic fibers and materials.

To develop sustainable debondable textile adhesives, Conagen leverages its precision fermentation technology, independent of plant source materials, to create more efficient and sustainable bio-based ingredients compared to chemically-synthesized versions.

“Conagen’s fermentation technology is forging a path towards a more sustainable future, where the utilization of sustainable biocompounds and biomaterials takes center stage in propelling high-performance solutions that prioritize environmental consciousness,” said J. McNamara, vice president of chemical applications.

The seam tapes market stood at $128 million in 2020. It was projected to exhibit a CAGR of 6.9% between 2020 and 2025, making Conagen’s adhesive formulation lucrative for a supplier to distribute to clothing manufacturers.

Debondable adhesives have the potential to significantly impact the market by offering a more sustainable and efficient solution for fabric bonding. The ability to easily debond materials could lead to increased adoption of adhesive-based manufacturing techniques and open up new opportunities for textile reworking and recycling, thereby potentially expanding the market for debondable adhesive products.

Conagen’s hallmark in biotech specialty and industrial space lies in discovering applications from the platform of natural biocompounds and biomaterials, ushering in a new era of high-performing and sustainable materials.

“By harnessing the power of fermentation, Conagen is leading the charge in promoting greener alternatives and revolutionizing industries with its commitment to sustainability and innovation,” said McNamara.

Conagen’s commitment to green chemicals and sustainability has been greatly reinforced by its strategic partnership with Sumitomo Chemical. The collaboration represents a major step forward in their shared vision of developing biosolutions for a more sustainable future.

About Conagen

Conagen is a product-focused, synthetic biology R&D company with large-scale manufacturing capabilities. Our scientists and engineers use the latest synthetic biology tools to develop high-quality, sustainable, nature-based products by precision fermentation and enzymatic bioconversion. We focus on the bioproduction of high-value ingredients for food, nutrition, flavors and fragrances, pharmaceutical, and renewable materials industries. www.conagen.com

Attachments

• Adhesives and tapes are commonly used today in garment manufacturing, either alone or in combination with stitching. 
• Conagen’s high-strength debondable textile adhesive extends to accessories and other soft goods applications.

Ana Capretz, Head of Public Relations and Communications
Conagen
+1-781-271-1588
[email protected]

GlobeNewswire Distribution ID 8872187