In an era of escalating digital interconnectivity within industrial systems, ensuring the security of critical operations has become paramount. Recognising the vulnerability of industrial control systems to cyber threats, Bureau Veritas, a leader in testing, inspection, and certification services, offers its specialised expertise to UK companies operating in a complex supply chain landscape with IEC 62443 consultancy services.
Industrial control systems hold a pivotal role in managing essential operations, rendering them vulnerable to cybersecurity breaches. Addressing this concern, the International Electrotechnical Commission (IEC) introduced the IEC 62443 series of standards as a proactive approach to safeguard cybersecurity for industrial automation and control systems.
The IEC 62443 family of standards emerges as this foundational framework, offering common language, methodologies, and requirements that facilitate collaboration across diverse industrial sectors. Notably, IEC 62443 has been adopted as the basis for various sector-specific schemes such as TS 50701 for railways and UR E27 for marine.
It provides organisations with a systematic approach to bolster their cybersecurity infrastructure against evolving threats which requires assessment, testing, and certifying the cybersecurity of industrial environments, systems, and products.
Whilst IEC 62443 compliance is not mandatory, it is swiftly becoming the accepted standard for ensuring the resilience of these vital systems. The framework conformity is transitioning from a market differentiator to a market requirement, supporting organisations across sectors including power and utilities, energy distribution, oil and gas, chemicals, rail, mining, and other industrial automation domains.
The complexities of adhering to IEC 62443 standards however present distinct challenges for producers of industrial connected systems and components, solutions suppliers, and industrial asset operators. Recognising these challenges, Bureau Veritas extends expert consultation services to help navigate the intricacies of IEC 62443 certification.
Combining expertise, knowledge, and a global presence to provide dependable services. Its specialised team assists in overcoming key challenges, including:
- Interpreting the applicability of IEC 62443 standards to your business and products.
- Identifying standards dependencies at different levels.
- Determining the most suitable level of maturity or security for businesses.
- Navigating the certification process.
- Comprehensive IEC 62443 Services.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global’s Autumn 2023 issue
The Autumn 2023 issue of Energy Global hosts an array of technical articles focusing on green hydrogen, wind installation technology, blade monitoring solutions, and more. This issue also features a regional report looking at some key renewables projects in Australia.
Read the article online at: https://www.energyglobal.com/special-reports/28092023/bureau-veritas-offers-consultancy-services-to-enhance-cybersecurity/
I confess: I’m a Star Trek nerd — and commodities enthusiast, too. Thus, asteroid mining should be my personal heaven. On Sunday, I watched with the excitement of a five-year old how a NASA space probe brought back the largest-ever stash of asteroid rubble to Earth. But was this feat a step closer to commercial space mining? Not even close.
Asteroid mining companies always promise the stars: Handsome profits await galactic prospectors who can bring gold, copper and other minerals from outer space. The treasure would help expedite the green energy transition by boosting the supply of critical metals, these supportrs claim — with some even proclaiming that the first trillionaire will be an asteroid-mining tycoon.
Utter nonsense.
Back on planet Earth, what really awaits is (pardon the pun) out-of-this-world costs. Even if the industry can eventually cut expenses and jump over technological hurdles, asteroid mining will remain commercial science fiction for some time.
Consider the OSIRIS-REx space mission, the little probe I viewed that — after an incredible 4 billion-mile seven-year roundtrip — released a capsule in the Utah desert bearing a sample from asteroid 101955 Bennu. This technological triumph will, I hope, inspire more children to enthusiastically pursue science. But at a cost of $1.1 billion, including launch and operation, the unmanned spacecraft wasn’t a bargain.
If the capsule contains the expected 250 grams of extraterrestrial dirt, the retrieval cost would come to about $4.4 million a gram. Nothing to complain about as researchers attempt to answer questions like why life developed on Earth. But it’s enough to bankrupt any commercial mining operation several times over.
Compare this with the earthly price of several commodities. Gold now trades at about $1,900 a troy ounce. To make a venture such as the OSIRIS-REx break even, the yellow metal would need to surge to $268 million.
And that would be assuming all the extraterrestrial dirt was pure gold — and, well, that’s unlikely. If only half of the asteroid were made up of that, the metal would need to trade at $536 million a troy ounce to break even, and so on.
The numbers are so staggering that I should just stop here.
But let’s consider an extremely expensive specialty metal, something comparable to the unobtainium from Hollywood-movie Avatar — but real. Iridium fits the bill. The transition metal, used in crucibles to manufacture chips and some rare alloys, changes hands at about $4,650 a troy ounce. To put it graphically, if a recipe asked for a teaspoon of iridium (please, don’t use it for cooking), it would need about $650 worth. In the commodities world, it’s among the priciest metals out there. Yet, for asteroid mining, it remains stupendously cheap. Using the OSIRIS-REx again as a yardstick, it would need to jump to about 140,000-fold for the industry to break even. In teaspoons, that comes to about $84 million.
Sure enough, costs may drop. At least that’s the main storyline the industry has pushed for the past decade. Planetary Resources and Deep Space Industries, two now-defunct wannabe asteroid-mining companies, bet on it in 2012. It didn’t work, though, despite the headline-grabbing prominence of some backers, including Titanic filmmaker James Cameron and Google co-founder Larry Page.
Since then, other companies have tried to make beyond-Earth mining profitable. The cost of launching probes is surely coming down but largely for satellites in orbits close to our planet. Asteroid mining requires spacecraft traveling far beyond. Voyages don’t last a few hours; they’re measured in months, if not years. And that’s only halfway. Then the probes need to land on their designated targets and retrieve the cargo. Much, if not most, of the rubble would be worthless. The collection still needs to be transported and delivered back to Earth.
One way to solve the expense conundrum would be by selecting, processing and refining the minerals in orbit, returning only pure metals to Earth. A new startup, AstroForge, is promising that route. I doubt it would work commercially. The technological demands are extensive — and certainly would take decades, not years, to resolve them.
Asteroid mining only works in a science-fiction world where metals are thousands of times more expensive than they are today. And in that world, plenty of metal deposits on Earth could be developed more economically. True, we can point to many industries where innovation has changed our way of life, reducing costs and solving incredible technological barriers. Think about aviation in the last 100 years, for example. But only over such time scenarios can this type of mining not look like a flimflam.
More From Bloomberg Opinion:
HONG KONG, Sept. 22, 2023 (GLOBE NEWSWIRE) — OKX, a leading Web3 technology company, has issued updates for September 22, 2023.
OKX Global Chief Commercial Officer Lennix Lai to Present Keynote Speech on Web3 at ‘Davos Digital Transformation Symposium and World Web3 Charity Week 2023’ in Hong Kong
OKX Global Chief Commercial Officer Lennix Lai will be a keynote speaker at the upcoming ‘Davos Digital Transformation Symposium and World Web3 Charity Week 2023.’ The event, organized by HKD.com, the Hong Kong Digital Asset Charity Foundation and the World Association of Sustainable Digital Transformation (WA.SDT), will take place from September 27 to September 29 at the Hong Kong Convention and Exhibition Centre (HKCEC, Hall 5G). Lennix’s keynote speech, scheduled for September 28 at 10:15 – 10:30 am (HKT), will focus on the Web3 space in Hong Kong and include insights on OKX’s Web3 Wallet.
The event aims to foster connections between Swiss companies and professionals in Hong Kong. With a focus on exploring new digital transformation business prospects in Asia, the event offers a platform for networking, partnership building and knowledge sharing.
To learn more about the event, click here.
For more information, please visit the Support Center.
For further information, please contact:
Media@okx.com
About OKX
A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:
- OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 70 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
- DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
- NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
- Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.
OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
The information displayed is strictly for educational and informational purposes only. It does not constitute and shall not be considered as an offer, solicitation or recommendation, to deal in any products (including any NFT or otherwise), or as financial or investment advice. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.
Vitamix is a premium brand name when it comes to blenders. It offers some serious blending options and it always seems to place a model on our list of the best blenders. This may make it seem like deals on Vitamix blenders would be hard to come by, but right now there are some massive discounts taking place at Vitamix. Whether you are a fitness nut, a couch potato looking to clean up your diet, or a chef with some commercial blending needs, we’ve rounded up the best Vitamix deals taking place right now, as well as all of the information you need to decide which model is right for you.
Vitamix TurboBlend 3-speed blender — $200, was $400
The Vitamix TurboBlend offers three speed controls with Low, Medium, and High settings. This allows you to create a range of textures, and a Pulse feature provides a quick burst of power for chopping ingredients. This is a good blender for making smoothies, soups, ice cream, and nutty butters with ease. It comes with Vitamix’s standard 5-year warranty, though the laser-cut, stainless steel cutting blades are made to last. This blender also comes with a cookbook to help you get started with some blending recipes.
Vitamix E320 blender with personal cup adapter — $300, was $595
With the Vitamix E320 blender you can refine every texture you blend, from chunky salsas to smooth purées. A Pulse feature provides a burst of power to chop ingredients and knead dough, among other things. An included tamper allows you to press thick and frozen mixtures toward the blades without having to stop and scrape the sides of the container, and the Vitamix E320 even comes with a free blender spatula and a free shaker bottle. Two 20-ounce blending cups with a personal cup adapter are also part of the package, and make it easy to blend in the container and take it with you.
Vitamix 7500 blender — $300, was $560
The Vitamix 7500 is a G-Series blender that comes with a 64-ounce low-profile container. This makes it easy to process large batches while still keeping the blender’s profile small enough to fit under most kitchen cabinets. The 64-ounce container is perfect for family meals and for entertaining guests. The blender itself offers ten variable speeds that allow you to refine the texture of everything you blend with culinary precision. This allows you to make a number of things with the Vitamix 7500, from smoothies to chunky soups.
Vitamix V1200 Super Pack — $330, was $670
With the Vitamix V1200 Super Pack you not only get a premium blender with a 10-year warranty, but also a variety of useful accessories. These include a 20-ounce Self-Detect blending cup, an 8-ounce Self-Detect blending bowl, a tamper holder, an S2 low-profile tamper, and an under blade scraper. The blender offers variable speed controls that will help you make salsas, smoothies, and soups, and the V1200 is the perfect blender for entertaining guests, as it can handle anything from appetizers to desserts.
Vitamix A3500 blender with stainless steel container — $650, was $730
With the A3500 you’re getting one of Vitamix’s most feature-packed blenders. It has five different program settings that allow for walk-away convenience and consistent results. It has touchscreen controls that give the it a sleek silhouette and makes for easy cleaning. It has built-in wireless connectivity and a programmable timer that helps avoid over-processing and -under-processing your custom recipes. The Vitamix A3500 is versatile, durable, and cleans up easily, making it the perfect option for anyone who demands a lot of use from their blender.
Editors’ Recommendations
SAN FRANCISCO — You may not know it, but thousands of often shadowy companies routinely traffic in personal data you probably never agreed to share — everything from your real-time location information to private financial details. Even if you could identify these data brokers, there isn’t much you can do about their activities, even in California, which has some of the strongest digital privacy laws in the U.S.
That’s on the verge of changing. Both houses of the California state legislature have passed the Delete Act, which would establish a “one stop shop” where individuals could order hundreds of data brokers registered in the state to delete their personal data — and to cease acquiring and selling it in the future — with a single request.
The Delete Act isn’t law yet; it still needs to pass a second vote in the state Senate, after which its fate is up to Gov. Gavin Newsom, a Democrat who hasn’t said whether he’ll sign it. But if enacted, its impact could extend well beyond state lines given California’s history of setting trends of this sort.
Here’s what you need to know.
WHAT THE BILL DOES
While California law already gives individuals the right to request data deletion, doing so currently require making separate requests to hundreds of data brokers registered in the state, many with their own unique requirements for drafting and handling such requests. Even then, nothing stops these companies from simply reacquiring that data once they delete it.
The Delete Act would require the state’s new privacy office, the California Privacy Protection Agency, to set up a website where consumers can verify their identity and then make a single request to delete their personal data held by data brokers and to opt out of future tracking. Proponents call it a “do not track” signal similar to the “do not call” list for telemarketers maintained by the Federal Trade Commission.
California already regulates data brokers, but the Delete Act would strengthen those provisions by requiring the companies to disclose more information about the data they collect on consumers and beefing up the state’s enforcement mechanisms.
MEET THE DATA BROKERS
The Electronic Privacy Information Center, a Washington, D.C., nonprofit focused on bolstering the right to privacy, defines data brokers as companies that collect and categorize personal information, usually to build profiles on millions of Americans that the companies can then rent, sell or use to provide services. The data they collect, per EPIC, can include: “names, addresses, telephone numbers, email addresses, gender, age, marital status, children, education, profession, income, political preferences, and cars and real estate owned.”
That’s not to mention “information on an individual’s purchases, where they shop, and how they pay for their purchases,” plus “health information, the sites we visit online, and the advertisements we click on. And thanks to the proliferation of smartphones and wearables, data brokers collect and sell real-time location data.”
Privacy advocates have warned for years that location and seemingly non-specific personal data — often collected by advertisers and amassed and sold by brokers — can be used to identify individuals. They also charge that the data often isn’t well secured and that the brokers aren’t covered by laws that require the clear consent of the person being tracked. They’ve argued for both legal and technical protections so that consumers can push back.
ARE DATA BROKERS THAT BAD?
Data brokers say they get a bad rap for serving a vital need. The president of the Consumer Data Industry Association, which describes itself as “the voice of the consumer reporting industry,” called the Delete Act “severely flawed” and warned in a Wednesday release that it could lead to unintended consequences by undermining consumer fraud protections, hurting the competitiveness of small businesses and entrenching big platforms such as Facebook and Google that collect vast amounts of consumer data but don’t sell it.
That CDIA official, Dan Smith, also argued that the heart of the bill — the one-stop data deletion program — could potentially allow malicious outsiders to impersonate consumers and delete their data without permission, although he didn’t explain what a third party might have to gain by deleting a consumer’s data without permission. (The Delete Act specifically exempts credit reporting agencies such as Experian, Equifax and TransUnion, whose reports are often required for big-ticket consumer purchases such as homes or cars.)
The CDIA did not immediately reply to a request for clarification.
WHAT ABUSE OF DATA BROKER INFORMATION LOOKS LIKE
In other respects, though, the information collected by these companies can be startlingly easy to abuse. The general lack of U.S. restrictions on what brokers can do with the vast amount of data they collect means there’s aren’t many legal protections to prevent outsiders from spying on politicians, celebrities and just about anyone that’s a target of idle curiosity — or malice.
Back in mid-2021, for instance, the U.S. Conference of Catholic Bishops announced the resignation of its top administrative official, Monsignor Jeffrey Burrill, ahead of a report by the Catholic news outlet The Pillar that probed his private romantic life. The Pillar said it obtained “commercially available” location data from a vendor it didn’t name that it “correlated” to Burrill’s phone to determine that he had visited gay bars and private residences while using Grindr, a dating app popular with gay people.
The Pillar alleged “serial sexual misconduct” by Burrill, as homosexual activity is considered sinful under Catholic doctrine and priests are expected to remain celibate. Following an extended leave, Burrill has since resumed his ministry in the small town of West Salem, Wisconsin, according to the Catholic News Service.
Commercial contracts can be complex. In today’s digital age,
Artificial Intelligence (AI) and automation continue to
revolutionise various industries and commercial law is no
exception. AI provides enhanced contract analysis and risk
management capabilities and its systems can review contracts for
potential risks, non-compliance, and inconsistencies. Furthermore,
AI-based contract negotiation tools offer a collaborative
environment where parties can engage in real-time discussions and
secure faster agreement. Machine Learning algorithms, for example,
can analyse historical data and provide insights into negotiation
levers, including typical terms and agreement points. They can also
provide alternative clause suggestions, enhancing the flexibility
and creativity of contract agreements. AI’s unique ability to
process vast amounts of data is a game-changer in commercial
contract management and it can identify patterns and trends in
contracts, allowing businesses to make data-driven decisions.
These technological advancements offer significant benefits that
can streamline processes, reduce costs, improve efficiency, and
enhance decision-making, however, they also create serious
potential risks and challenges. As competition grows and the
demands of clients evolve, it is crucial that commercial law firms
embrace AI and automation whilst navigating these risks in order to
maintain ethical practices, protect client interests, and uphold
the integrity of the legal profession.
Data privacy
One of the main risks associated with using AI and automation in
commercial law revolves around data privacy and security. As these
technologies necessitate accessing and analysing vast amounts of
sensitive, confidential or personal information, there is a
potential for data breaches and unauthorised access. Ensuring data
privacy and security is paramount to protect the interests of
clients and businesses. Consequently, law firms in particular must
ensure robust cybersecurity measures, data encryption, and strict
access controls are in place to prevent unauthorised access or
breaches and to protect client data, maintain confidentiality, and
comply with relevant data protection regulations like the General
Data Protection Regulation (GDPR).
Bias and ethical complications
AI algorithms are trained to use historical data which may
contain inherent biases present in society. If the training data is
biased or incomplete, AI systems can inadvertently perpetuate
existing biases, leading to discriminatory outcomes. In commercial
law, this bias can result in unequal treatment, unfair business
practices, or unintended discrimination. Law firms and their staff
must exercise significant caution when implementing AI and
automation, from carefully selecting training data, regularly
auditing algorithms to address potential bias and counteracting any
negative ethical implications.
Legal liability and responsibility
Whilst AI technologies become more sophisticated and can greatly
assist in contract analysis, due diligence, and legal research,
they are not exempt from legal liability. Errors or omissions can
and will occur due to the use of AI or automation and determining
legal responsibility can become complex. For example, the
interpretation of legal texts, such as statutes or case law, often
involves nuanced reasoning and context-specific understanding. AI
algorithms, whilst efficient in processing vast amounts of data,
currently lack the ability to grasp the intricacies of legal
principles fully and this raises concerns about the accuracy and
reliability of AI-generated legal advice or judgements. Law firms
must, therefore, exercise caution when relying on AI systems and
should implement transparency measures and obtain appropriate
insurance coverage to help mitigate the risks associated with
potential legal liabilities.
Limited human oversight
Overreliance on AI and automation can lead to complacency and a
loss of critical thinking. Whilst these technologies offer
significant benefits and can augment decision-making, it should not
replace human judgement and oversight, and it is imperative that
lawyers maintain their legal expertise and exercise their
professional judgement at all times. Blindly accepting the output
of AI algorithms without questioning or verifying can lead to
costly errors, misinterpretation and oversight. Law firms and their
lawyers must strike the right balance between leveraging AI
technology and retaining their legal acumen to ensure optimal
outcomes for their clients.
Jobs at risk
This AI age is likely to cause economic disruption and job
displacement. Routine and repetitive tasks that were previously
carried out by junior lawyers or paralegals can now be automated,
and it could significantly reduce the number of billable hours for
lawyers, potentially leading to reduced demand for certain roles in
the legal industry.
About 114,000 legal jobs are likely to be automated in the next
20 years, a 2016 study by Deloitte predicted. The report predicted
another 39 per cent of jobs were at “high risk” of being
made redundant in the next two decades.
Research published this year by Princeton University, the
University of Pennsylvania and New York University suggested that
legal services is the industry most at risk from this latest wave
of AI.
Whilst the use of AI can result in increased efficiency and
reduced costs for law firms, it is vital to proactively address the
impact on human resources. As a first step, law firms should focus
on upskilling their workforce, redefining roles, and emphasising
the value of human expertise alongside inevitable technological
advancements.
The introduction of AI and automation technologies has
transformed the practice of commercial law, presenting new
opportunities to law firms and their clients but also bringing
about new and associated risks. As the commercial law landscape
continues to evolve, law firms that harness the power or AI and
automation can get ahead of the competition, deliver better results
to their clients, and foster growth in an increasingly digital
world. Striking a delicate balance between human expertise and
technological advancements is key to harnessing the potential of AI
and automation in commercial law while upholding the integrity and
ethics of the legal profession. It is, therefore, paramount that
the legal industry embraces this technological revolution to drive
innovation and propel commercial law into a more efficient,
accurate, and client-centric future.
Originally published by Insider Media.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
Published: Sept. 7, 2023 at 1:52 p.m. ET
By Josh Beckerman
Shares of Sigma Additive Solutions rose 32% Thursday after it reported letters of intent to buy travel technology company NextTrip Holdings and sell intellectual property assets related to its quality assurance software for 3-D printing to an unnamed strategic buyer.
The stock recently traded at 29 cents and is down 28% for…
By Josh Beckerman
Shares of Sigma Additive Solutions rose 32% Thursday after it reported letters of intent to buy travel technology company NextTrip Holdings and sell intellectual property assets related to its quality assurance software for 3-D printing to an unnamed strategic buyer.
The stock recently traded at 29 cents and is down 28% for the year to date.
Sigma said it will buy 100% of NextTrip in exchange for shares constituting 19.99% of its outstanding common stock plus additional shares upon the achievement of post-closing milestone earnouts. It said the total transaction will have a starting valuation of about $48 million if all milestones are earned.
The transactions are expected to be completed in the fourth quarter, subject to conditions including negotiation and execution of a definitive NextTrip acquisition agreement. Sigma is expected to change its name to NextTrip.
Write to Josh Beckerman at josh.beckerman@wsj.com
When Ruffer invested around $600m into bitcoin at the end of 2020, pension funds took notice and began calling their investment consultants.
The UK asset manager’s bet on the fledgling asset class coincided with a sharp rise in bitcoin’s price, fuelled in part by a growing number of retail investors piling in during Covid lockdowns.
By the time Ruffer sold its position five months later, bitcoin’s price had more than doubled and it had netted a $1.1bn profit.
Three years on and the sector has suffered the so-called crypto winter as well as seen the high-profile collapse of crypto exchange FTX in November 2022. This year, US regulators including the Securities and Exchange Commission have taken two other large exchanges to court — Coinbase and Binance.
Perhaps unsurprisingly, pension funds have now gone cold on the idea of allocating money to crypto.
“There has been a radio silence. We have stopped getting the calls,” said Matthew Scott, a senior strategic investment research specialist at investment consultancy Mercer.
“There was a flurry of activity in 2021 and I was being rolled out for client meetings. They were very interested. Almost all the meetings were about people wanting to know about crypto.”
“I haven’t heard of any pension schemes interested in bitcoin,” said John Ralfe, an independent consultant and pensions expert. “I can’t believe that people are queueing round the block.”
Despite UK pension funds’ waning interest in cryptocurrencies, some surveys continue to point to increased institutional appetite.
London-based hedge fund Nickel Digital Asset Management published research in July showing 87% of institutional investors and wealth managers believe investment in crypto will be attractive in the year ahead; 92% believe it will become attractive over the next five years.
But investment consultants say their institutional clients — mainly traditional pension funds worth tens of billions of pounds — show no sign of making a play for bitcoin or other cryptocurrencies.
“I’m not aware of any UK pension fund clients directly investing in crypto or even asking about it,” said Alasdair MacDonald, chief investment officer for WTW’s UK investment advisory business.
However, MacDonald said he wouldn’t rule out pension funds having “some immaterial indirect exposure to crypto” via investment in hedge funds or venture capital investments in crypto businesses.
Mercer’s Scott said pension funds had grown sceptical over crypto and some of its use cases.
“Look at ChatGPT: when it came out, shortly afterwards it was on everyone’s computers. Thirteen years in, we are still not clear what the use case is for crypto, other than it being a casino,” said Scott.
They are also taking their ESG responsibilities seriously, so bitcoin’s poor green credentials are a turn-off.
According to Bitcoin Energy Consumption Index, the cryptocurrency is responsible for the production of more than 62 million tonnes of carbon dioxide annually. That gives it a carbon footprint comparable to that of Belarus.
“The sheer quantity of energy that is used to maintain bitcoin is a huge problem for a lot of institutions,” said Scott.
“You have an asset that is incredibly carbon intensive, practically unregulated and there’s a huge amount of fraud — it is not screaming institutions.”
To contact the author of this story with feedback or news, email David Ricketts
The Company’s next-generation avionics are built with sophisticated visual awareness cameras and a robust sensor-array malfunction detection system to enable unmanned aircraft systems (UAS) and electric vertical takeoff and landing (eVTOL) aircraft to conceive and analyze surroundings, similar to a human pilot and mitigate flight risks autonomously.
Kiryat Ono, Israel, Sept. 01, 2023 (GLOBE NEWSWIRE) — ParaZero Technologies Ltd. (Nasdaq: PRZO) (“ParaZero”), an aerospace company focused on advanced safety systems for commercial drones and urban air mobility (UAM) aircraft, today announced its next-generation safety product development, SmartAir Trinity, an AI-based avionics system, which utilizes a new, leading-edge sensor array with advanced capabilities, designed to detect malfunctions of UAS and eVTOL in real-time, and provide deep analytics for mission debriefings.
The SmartAir Trinity system is comprised of sophisticated visual awareness cameras and an advanced sensor suite that enables UAS and eVTOL aircraft to understand their surroundings using artificial intelligence and machine learning technological capabilities. Its AI-embedded approach supports safety and risk mitigation in addition to over-the-air (OTA) firmware and configuration updates, keeping every platform up to date with the latest and most accurate algorithms and features.
Among a host of new safety capabilities, the SmartAir Trinity offers an optimized parachute deployment algorithm to enhance operational containment capabilities, detection and identification of safe landing zone and delivery site areas, GNSS-free navigation, redundancy system for onboard GPS, and monitoring the aircraft’s behavior with great operational insight.
“The commercial UAS and UAM markets continue to gain momentum, with ongoing technology releases, new aircraft development, and supportive global regulatory frameworks. In order for organizations to meet performance-based safety requirements and cut time-to-market, they look to leverage the most robust and effective safety systems and technologies; in those cases, legacy safety systems often won’t cut it,” said ParaZero Chief Product Officer, Yuval Gilad. “ParaZero’s safety product portfolio has played a critical role in ensuring the safety of urban air mobility and commercial drone flight operations around the world for many years. We are looking forward to offering our next generation safety technology to the industry at a pivotal time to address both integration needs from original equipment manufacturers and regulatory requirements, to enable every platform to reach its full potential.”
About ParaZero
ParaZero ( https://parazero.com/ ) is a world-leading developer of autonomous parachute safety systems for commercial drones and urban air mobility (UAM) aircraft. Started in 2014 by a passionate group of aviation professionals and drone industry veterans, ParaZero designs smart, autonomous parachute safety systems designed to enable safe flight operations overpopulated areas, beyond-visual-line-of-sight (BVLOS).
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the potential of its systems, the momentum of the commercial UAS and UAM markets and that it looks forward to offering next generation safety technology to enable every platform to reach its full potential. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s final prospectus (Registration No. 333-265178) dated July 26, 2023. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. ParaZero is not responsible for the contents of third-party websites.
Investor Relations Contact:
Michal Efraty
Investor Relations, Israel
+972-(0)52-3044404
Copyright 2023 GlobeNewswire, Inc.
Published: Aug. 31, 2023 at 8:14 a.m. ET
By Robb M. Stewart
Canadian graphene powder manufacturer NanoXplore said commercial terms have been agreed for a deal to supply Li-ion battery cells with a commercial vehicle maker.
The Montreal-based company said Thursday the agreement with the undisclosed vehicle company will see battery cells produced at its VoltaXplore subsidiary’s gigafactory…
By Robb M. Stewart
Canadian graphene powder manufacturer NanoXplore said commercial terms have been agreed for a deal to supply Li-ion battery cells with a commercial vehicle maker.
The Montreal-based company said Thursday the agreement with the undisclosed vehicle company will see battery cells produced at its VoltaXplore subsidiary’s gigafactory from 2026.
The agreement covers 1 gigawatt hour per year for a duration of 10 years, following a pricing formula that passes through raw material costs to the customer, NanoXplore said.
At the same time, the company said Nicolas Veilleux has been named director of automation and construction at VoltaXplore. Veilleux worked as the senior manager of cell controls engineering at Tesla before joining VoltaXplore this year.
Write to Robb M. Stewart at robb.stewart@wsj.com