Connect with us

Technology

Vancouver International Airport, General Fusion leverage local innovative solutions through B.C.’s Integrated Marketplace

Published

on

VANCOUVER, BC, July 10, 2024 /CNW/ – Three new projects have been funded through B.C.’s Integrated Marketplace program led by Innovate BC, two of which will seek to bolster operational capabilities at Vancouver International Airport (YVR) through drone-based runway monitoring and an enhanced paging communication system in the terminal, and the other will support the development of a state-of-the-art diagnostics component for General Fusion’s new Magnetized Target Fusion (MTF) machine, called Lawson Machine 26 (LM26).

“Creating innovative ideas and solutions that reduce emissions, improve competitiveness and support local companies is essential for creating a strong economy that moves British Columbians forward,” said Brenda Bailey, Minister of Jobs, Economic Development and Innovation. “I look forward to seeing the contributions these three projects will make to people in B.C. and globally.”

Created to help drive innovation in the province, the Integrated Marketplace links strategic partners operating at testbeds (an industry site, such as an airport, seaport, or mine, or a conceptual space such as a health network, a series of farms or a digital platform) and B.C.-based solution providers to implement, scale up, and export B.C. technology solutions. This framework allows B.C. industries to receive assistance in adopting innovation and new technologies while participating solution providers earn a critical reference customer to support their growth.

These three projects are part of the Integrated Marketplace’s Vancouver International Airport testbed, which includes YVR as well as select organizations such as General Fusion that operate in its vicinity.

“As a key partner in the Integrated Marketplace Initiative, YVR provides an ideal environment for local innovators and clean-tech companies to develop and implement made-in-B.C. solutions that work at our airport and can likely be applied to other airports and industries,” said Tamara Vrooman, President and CEO at Vancouver International Airport. “We are very proud to be a testbed for innovation and to see solutions from this collaboration advance B.C. business, improve our operation, and benefit our community and the economy that supports it.”  

Diagnostic Capabilities at General Fusion

General Fusion, which operates as part of the Vancouver International Airport testbed, is working with Victoria-based Motus Design Group to design an electronic component that will enhance the diagnostic system for LM26 – a fusion demonstration machine designed to achieve first-of-a-kind breakthroughs in 2025 and 2026 that will de-risk and fast-track the company’s path to commercialization.

Fusion is the ultimate clean energy solution – it is the energy source that powers the sun and stars. Fusion is the process by which two light nuclei merge to form a heavier one, producing a massive amount of energy. General Fusion’s two decades of technology development in B.C. and talented team of 140 employees in the province put commercial fusion within reach. The company aims to deliver zero-carbon energy to the grid by the early to mid-2030s with its proprietary MTF technology.

Under the project, a newly designed, first-of-a-kind component will enable General Fusion to quickly install diagnostics on LM26 and support the extraction and storage of data. When operational, the robust diagnostics system will provide thousands of data points used to improve the capabilities of the machine with each run.

Predictive Monitoring at Vancouver International Airport

Working with Victoria-based Niricson, YVR is exploring drone technology to assess the condition of its runways. Using drone technology will create efficiencies for the airport, as teams will have near real-time access to data that will help inform operations and maintenance decisions. Data will also be applied to a predictive model, whereby upcoming needs and considerations will be projected based on current state and defined logic for future planning.

Drone technology will also help reduce carbon emissions from the airport’s operations, as fleet vehicles will be required less for condition monitoring work. Additionally, its integration into operations and the associated data collected has the potential to inform the wider adoption of drone-based infrastructure condition assessments across other airports and industries. 

Mass Paging at Vancouver International Airport

YVR is working to enhance its mass paging, or PA, system in the terminal. With the support of Surrey-based Hybrid Audio Visual, YVR will improve sound quality, ensure precise troubleshooting with the thousands of speakers across the terminal, and increase customization of its paging system. For example, with the new paging interface, YVR will be able to isolate specific areas of the terminal for certain announcements while ensuring all announcements are clear and audible for the benefit of travellers and employees.

In additional to greater accessibility and reliability, the new mass paging system also uses new technology and equipment, with speakers switching to a low-power mode when not in use, which has the potential to provide energy savings of up to 40 per cent.

“The Integrated Marketplace connects some of the province’s most significant economic drivers to local innovation providers that have the ideas and expertise to evolve how our industries operate while supporting their efforts to decarbonize,” said Peter Cowan, President and CEO of Innovate BC. “This suite of projects perfectly represents what is possible through the program, and I am excited to see how both YVR and General Fusion can leverage these technologies towards greater efficiencies, output, and impact.”

These projects are part of the Government of B.C.’s investment of up to $11.5 million and the Government of Canada’s investment, through PacifiCan, of up to $9.9 million in the Integrated Marketplace. It follows the recent announcement of Prince Rupert Port Authority’s testing of zero and low-emission trucks through a project delivered via the Integrated Marketplace.

Additional Quotes

The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada

“PacifiCan knows that B.C. entrepreneurs are developing creative solutions needed around the world. The three projects announced today are part of the Vancouver International Airport testbed, and feature technologies that lower costs, reduce emissions and increase efficiencies. They are examples of how the Integrated Marketplace program is helping local companies prove their technologies here at home, before taking on the world.”

Greg Twinney, CEO, General Fusion

“On our groundbreaking path to commercial fusion energy, Innovate BC’s Integrated Marketplace program is an excellent opportunity to work with companies like Motus Design in our own backyard. We’re building world-changing fusion technology right here in B.C. and want to work with other local innovators along the way. From electronics hardware and engineering support to diagnostics and data analysis, we’re leveraging the unique capabilities of the thriving technology sector to deliver practical, clean fusion power in the next decade.”

Josh Erickson, CEO & Co-Founder, Motus Design Group

“Motus is excited to be deploying our digital optical converter technology at General Fusion.  The technology aims to improve the reliability and scalability of hundreds of channels of sensor systems needed to collect and manage data on General Fusion’s transformative LM26 fusion demonstration machine.  Better data helps General Fusion on its path to make British Columbia a leader in commercializing zero carbon energy through fusion.”

Harsh Rathod, Ph.D., CEO & Co-founder, Niricson

“We are excited to deploy our technology to enhance the condition assessment workflow of runways at YVR. The idea is to build the deterioration model with technology driven datasets, to go from reactive maintenance to predictive maintenance. Moreover, to help the asset owner, YVR operation team, to improve the efficiency of the entire inspection workflow (from manual to digital) to “flatten” the maintenance curve.”

Stu Wight, Co-Founder, Hybrid Audio Visual Inc.

“Working with YVR and Innovate BC has been a great opportunity for Hybrid AV. As a relatively new company this YVR project has allowed our company to design, install and service state of the art technologies in a world class facility. The benefits to the public and YVR will make a noticeable difference in intelligibility of announcements, reliability of the system and cost savings in operations. This system will undoubtably be showcased to airports around the world and bring YVR to the forefront in public announcement technologies.”

About Innovate BC

A Crown Agency of British Columbia, Innovate BC works to foster innovation across the province and bolster the growth of the local economy through delivering a wide range of programs that help companies start and scale, access talent and encourage technology development, commercialization, and adoption. Innovate BC also harnesses crucial data collection and research, and works to forge strategic industry and community partnerships that create more opportunities for B.C. innovators.

SOURCE Innovate BC

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

TriNetX’s Founding CEO Announces Plans to Step Down

Published

on

By

After 11 Years, Gadi Lachman to Conclude Operating Role, Remain on TriNetX’s Board

CAMBRIDGE, Mass., Jan. 9, 2025 /PRNewswire/ — TriNetX, the largest global source of real-world data, today announced that Gadi Lachman, the Company’s Founder, President and CEO, will step down from his operating role on March 31, 2025. Gadi founded TriNetX in 2014 and has served as President and CEO in the succeeding 11 years. Gadi will continue to serve on TriNetX’s Board of Directors and will be an Advisor to Carlyle, TriNetX’s majority investor.

“It has been an honor to build TriNetX and be part of such an outstanding team. I want to thank TriNetX’s employees, customers, and shareholders for the support they have shown me. With the talent and passion of our people I am immensely confident in TriNetX’s continued success,” said Lachman. “Together, we have built the largest global platform for clinical research, with data from over 25 countries and tens of millions of queries a month. Our solutions are moving clinical research to a whole different level and saving lives on a massive scale, across all therapeutic areas.”

During the transition period, Jeff Margolis, a current TriNetX Director, will serve as Executive Chairman to ensure continuity in leadership and governance while a CEO search is conducted.

Margolis said, “I have had the distinct privilege of serving on the Board alongside Gadi and partnering with him for 11 years. On behalf of the Board, we thank Gadi for shaping and leading TriNetX to become the world’s top ecosystem of real-world data and real-world evidence serving life sciences and the broader healthcare industry. I look forward to working with him and the rest of the Board over the next months to execute a successful transition of leadership.”

Joe Bress, Partner and Global Co-Head of Healthcare for Carlyle, TriNetX’s lead investor, added, “We have been thrilled to partner with Gadi since our initial investment in TriNetX over four years ago. Thanks to his disciplined leadership, TriNetX is one of the few companies that has sustained profitability even during periods of high growth. Gadi has built the company up to an exciting point, paving the way for a new leader to take the business into its next chapter of growth and success.”

Through this leadership transition, TriNetX remains steadfast in its mission to advance global healthcare through the power of real-world data. The Board, leadership team, and employees are united in their commitment to driving continued innovation and delivering success for customers and partners, all while building on Gadi’s exceptional legacy.

About TriNetX, LLC

TriNetX is a global network of healthcare organizations and life sciences companies dedicated to advancing real-world research and expediting the development of new therapies. Through its self-service, HIPAA-, GDPR-, and LGPD-compliant platform of federated deidentified and anonymous electronic health record datasets and consulting partnerships, TriNetX empowers its global community to improve clinical trial protocol design, streamline trial operations, refine safety signals, and enrich real-world evidence generation. For more information, please visit TriNetX at www.trinetx.com or follow TriNetX on LinkedIn.

Media Contact
TriNetX
Michelle Fleming, Chief Marketing Officer
Email: Michelle.Fleming@TriNetX.com

Logo – https://mma.prnewswire.com/media/542641/TriNetX_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/trinetxs-founding-ceo-announces-plans-to-step-down-302347367.html

Continue Reading

Technology

Stellus Private Credit BDC Announces $0.36 First Quarter 2025 Regular Dividend, Payable Monthly in Increments of $0.12 in January, February, and March 2025

Published

on

By

HOUSTON, Jan. 9, 2025 /PRNewswire/ — Stellus Private Credit BDC (“the Company”) announced that its Board of Trustees has declared a monthly dividend of $0.12 for each of January, February, and March, totaling $0.36 per share in the aggregate for the first quarter of 2025. The regular dividend of $0.36 per share will be paid to shareholders of record in January, February, and March 2025.

Summary of First Quarter 2025 Regular Monthly Dividends

Declared

Record Date

Payment Date

Amount per Share

1/9/2025

1/10/2025

1/31/2025

$0.12

1/9/2025

2/3/2025

2/28/2025

$0.12

1/9/2025

3/3/2025

3/31/2025

$0.12

About Stellus Private Credit BDC

The Company is an externally-managed, closed-end, non-diversified investment management company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation by investing primarily in private middle-market companies (typically those with $5.0 million to $50.0 million of EBITDA (earnings before interest, taxes, depreciation and amortization)) through first lien (including unitranche) loans, second lien loans and unsecured debt financing, with corresponding equity co-investments. The Company’s investment activities are managed by its investment adviser, Stellus Private BDC Advisor, LLC.

Forward-Looking Statements

Statements included herein may contain “forward-looking statements” which relate to future performance or financial condition. Statements other than statements of historical facts included in this press release, including statements about COVID-19 and its impacts, may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission including the final prospectus that will be filed with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contacts
Stellus Private Credit BDC
W. Todd Huskinson, Chief Financial Officer
(713) 292-5414
thuskinson@stelluscapital.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/stellus-private-credit-bdc-announces-0-36-first-quarter-2025-regular-dividend-payable-monthly-in-increments-of-0-12-in-january-february-and-march-2025–302347311.html

SOURCE Stellus Private Credit BDC

Continue Reading

Technology

MongoDB, Inc. to Present at the 27th Annual Needham Growth Conference

Published

on

By

NEW YORK, Jan. 9, 2025 /PRNewswire/ — MongoDB, Inc. (NASDAQ: MDB) today announced that Chief Operating Officer and Chief Financial Officer, Michael Gordon, and Senior Vice President of Finance, Serge Tanjga, will present virtually at the 27th Annual Needham Growth Conference.

The MongoDB presentation is scheduled for Thursday, January 16, 2025, at 3:45 p.m. Eastern Time. A live webcast of the presentation will be available on the Events page of the MongoDB investor relations website at https://investors.mongodb.com/news-events/events. A replay of the webcast will also be available for a limited time.

About MongoDB
Headquartered in New York, MongoDB’s mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. Built by developers, for developers, MongoDB’s developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today’s wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses. To learn more, visit mongodb.com.

Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com

Media Relations
MongoDB PR
press@mongodb.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/mongodb-inc-to-present-at-the-27th-annual-needham-growth-conference-302347475.html

SOURCE MongoDB, Inc.

Continue Reading

Trending