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TAT Technologies Grows Revenue by 36%, Increases Net Income by 78% and increased adjusted EBITDA by 69%, for the Second Quarter of 2024

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Company Delivers 7th Consecutive Quarter of Expanding Revenues and Profits

Management Reviews Financial Results and Provides Business Update on Quarterly Webcast

CHARLOTTE, N.C., Aug. 28, 2024 /PRNewswire/ — TAT Technologies Ltd. (NASDAQ: TATT) (TASE: TATT) (“TAT” or the “Company”), a leading provider of products and services to the commercial and military aerospace and ground defense industries, reported today its unaudited results for the three-month and six-month period ended June 30, 2024.

Financial Highlights for the Second Quarter and First Six Months of 2024:

Revenues increased by 36.2% to $36.5 million compared to $26.8 million for the second quarter of 2024. For the first half of 2024 revenues increased by 36% to 70.6$ million compared to $52 million in the first half of 2023.Gross profit increased by 47.1% to $8.0 million compared to $5.4 million for the second quarter of 2023 (21.9% of revenues in Q224 compared to 20.2% of revenues in Q223). For the first half of 2024 gross profit increase by 55.4% to $15.1 million compared to $9.7 million in the first half of 2023 (20.9% of revenues in H124 compared to 18.6% of revenues in H123)Operating Income increased by 78.5% to $2.7 million compared to $1.5 million in Q223, (7.5% of revenues in Q224 compared to 6.5% of revenues in Q223). For the first half of 2024 operating income increased by 99% to $4.9 million compared to $2.5 million in the first half of 2023 (7% of revenues in H124 compared to 4.8% of revenues in H123).Net Income increased by 78% to $2.6 million compared to $1.5 million in the second quarter of 2023. For the first half of 2024 net income increased by 122% to $4.7 million compared to $2.1 million in the first half of 2023.Adjusted EBITDA increased by 69.4% to $4.3 million (11.9% of revenues) compared to $2.6 million (9.6% of revenues) in the second quarter of 2023. Adjusted EBITDA for the first half of 2024 increased by 73% to $8 million compared $4.6 in the first half of 2023 (11.4% of revenues in H124 compared to 9% in H123).Cash flow from operating activities was negative $(4.1) million compared to positive cash flow of $2.5 million in the second half of 2023. Cash flow from operating activities for the first half of 2024 was negative $(7.7) million compared to positive cash flow of $4.2 million in the first half of 2023.

Mr. Igal Zamir, TAT’s CEO and President commented: “We are very proud to report another record quarter marked by revenue growth, margin expansion, and profitability improvement. Our results demonstrate increasing demand for our products and services, which are aligned with our growth strategy. This was the seventh consecutive quarter of growth in revenue and EBITDA, and given our growing momentum and backlog, we expect this trend to continue.”

“During the second quarter, we secured orders of more than $40 million, resulting in a record backlog and LTA Value of over $414 million,” continued Mr. Zamir. “These new orders give us significant visibility into revenue potential over the coming quarters and bolster our confidence in continued success. On top of the continued revenue growth, we invest efforts in improving our operational efficiency and cost structure. This resulted in an improved Gross margin and EBITDA margin.”

“During the first six months of 2024 we started serving APU of the newly certified 131 and 331-500 which serves a fleet of close to 20,000 aircraft (with a total addressable annual market of about $2 billion),” added Mr. Zamir. “The revenue obtained during the first half of 2024 is mainly driven from TAT’s historical products and services. The revenue from these new engines’ capabilities is insignificant. We are very excited about our future revenue growth and profits, as we start leveraging the potential of this new market. We will continue to expand our customer base for those engines MRO services according to our growth strategy”

Shareholder Webcast

Igal Zamir and Ehud Ben-Yeir, TAT’s CEO and CFO, have posted a webcast reviewing the financial results and to provide a business update.  Investors interested in accessing the webcast can visit the investor relations section of the Company’s website at https://tat-technologies.com/investors/. The webcast will remain accessible on the website for at least 90 days.

Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with GAAP, the Company also presents Adjusted EBITDA.  The adjustments to the Company’s GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company’s underlying operational results, trends and performance. Adjusted EBITDA is calculated as net income excluding the impact of: the Company’s share in results of affiliated companies, share-based compensation, taxes on income, financial (expenses) income, net, and depreciation and amortization. Adjusted EBITDA, however, should not be considered as alternative to net income and operating income for the period and may not be indicative of the historic operating results of the Company; nor it is meant to be predictive of potential future results. Adjusted EBITDA is not measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. See reconciliation of Adjusted EBITDA below.

About TAT Technologies LTD

TAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original equipment manufacturing (“OEM”) of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund.

TAT’s activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft in and ground applications; and (iii) a variety of other mechanical aircraft accessories and systems such as pumps, valves, and turbine power units.

TAT’s activities in the area of MRO Services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT’s Limco subsidiary operates an FAA-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of MRO services for aviation components include the MRO of APUs, landing gears and other aircraft components. TAT’s Piedmont subsidiary operates an FAA-certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.

TAT’s activities in the area of overhaul and coating of jet engine components includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps.

For more information of TAT Technologies Ltd., please visit our web-site:
www.tat-technologies.com

Contact:
Mr. Eran Yunger
Director of IR
erany@tat-technologies.com

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements which include, without limitation, statements regarding possible or assumed future operation results. These statements are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause our results to differ materially from management’s current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations including, but are not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, [LTAs] and backlog, the price and continuity of supply of component parts used in our operations, and other risks detailed from time to time in the Company’s filings with the Securities Exchange Commission, including, its annual report on form 20-F and its periodic reports on form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

 

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEET

(In thousands)

Jun 30,

December 31,

2024

2023

(unaudited)

(audited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$        8,058

$      15,979

Accounts receivable, net of allowance for credit losses of $305

   and $345 thousand as of Jun 30, 2024 and December 31, 2023
respectively 

 

26,197

 

20,009

 

Restricted deposit   

661

Other current assets and prepaid expenses

6,722

6,397

Inventory

56,763

51,280

          Total current assets

97,740

94,326

NON-CURRENT ASSETS:

 Restricted deposit

294

302

 Investment in affiliates

2,763

2,168

Funds in respect of employee rights upon retirement

644

664

 Deferred income taxes

1,097

994

Property, plant and equipment, net

40,934

42,554

Operating lease right of use assets

2,656

2,746

Intangible assets, net

1,687

1,823

Total non-current assets

50,075

51,251

Total assets

$                  147,815

$                  145,577

LIABILITIES AND EQUITY

CURRENT LIABILITIES:

Current maturities of long-term loans

$                    1,937

$                      2,200

Short term loans

12,547

12,138

Accounts payable

9,079

9,988

Accrued expenses

12,907

13,952

Operating lease liabilities

1,155

1,033

          Total current liabilities

37,625

39,311

NON CURRENT LIABILITIES:

     Long-term loans

11,970

12,886

     Liability in respect of employee rights upon retirement

998

1,000

     Operating lease liabilities

1,486

1,697

 Total non-current liabilities

14,454

15,583

Total liabilities

$                     52,079

$                  54,894

EQUITY:

Share capital

3,152

3,140

Translation reserves

164

Additional paid-in capital

76,512

76,335

Treasury shares at cost

(2,088)

(2,088)

Accumulated other comprehensive income

27

Retained earnings

17,996

13,269

Total shareholders’ equity

95,736

90,683

Total liabilities and shareholders’ equity

147,815

$             145,577

 

 

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except share and per share data)

Three months ended

Six months ended

Year ended

June 30,

December 31,

2024

2023

2024

2023

2023

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

Revenues:

     Products

$    11,732

$   8,167

$     23,667

$   15,458

$     35,241

     Services

24,793

18,637

46,946

36,564

78,553

36,525

26,804

70,613

52,022

113,794

Cost of goods:

     Products

7,673

5,548

16,659

11,822

30,517

     Services

20,868

15,830

38,904

30,515

60,809

28,541

21,378

55,563

42,337

91,326

Gross Profit

7,984

5,426

15,050

9,685

22,468

Operating expenses:

     Research and development, net

343

157

620

256

715

     Selling and marketing

1,993

1,298

3,653

2,457

5,523

     General and administrative

2,916

2,474

6,225

4,933

10,588

     Other income

(2)

(35)

(390)

(441)

(433)

5,250

3,894

10,108

7,205

16,393

Operating income (Loss)

2,734

1,532

4,942

2,480

6,075

      Interest expenses

(413)

(440)

(763)

(806)

(1,683)

      Other financial income (expenses), Net

106

167

7

148

353

Income before taxes on income (tax benefit)

2,427

1,259

4,186

1,822

4,745

Taxes on income (tax benefit)

44

(63)

(109)

(90)

576

Income before share of equity investment

2,383

1,322

4,295

1,912

4,169

Profit of equity investment of affiliated
      companies

234

153

432

221

503

Net Income

$    2,617

$   1,475

$   4,727

$   2,133

$     4,672

 

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

Basic and diluted income per share

Net income per share

$    0.26

$      0.16

$    0.46

$    0.24

$    0.52

Net income per diluted shares

$   0.25

$    0.15

$   0.44

$   0.23

$      0.51

Weighted average number of shares
     outstanding

Basic

10,394,654

8,942,423

10,386,859

8,942,423

8,961,689

Diluted

10,561,420

9,052,163

10,722,153

9,052,163

9,084,022

 

Three months ended

Six months ended

Year ended 

June 30,

December 31,

2024

2023

2024

2023

2023

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

Net income

$    2,617

$     1,475

$    4,727

$     2,133

$    4,672

Other comprehensive income , net 

Change in foreign currency translation
adjustments

164

164

Net unrealized income from derivatives

26

(27)

26

53

Total comprehensive income 

2,781

$    1,501

$ 4,864

$    2,159

$    4,725

 

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In thousands, except share data)

Share capital

Accumulated

Number of
shares issued

Amount

Additional
paid-in
capital

Translation
reserves

other
comprehensive
income (loss)

Treasury
shares

Retained
earnings

Total equity

BALANCE AT DECEMBER 31, 2022

9,186,019

$            2,842

$       66,245

$            (26)

$            (2,088)

$            8,597

$            75,570

CHANGES DURING THE YEAR ENDED
     DECEMBER 31, 2023:

Comprehensive loss

53

4,672

4,725

Exercise of option

32,466

8

157

165

Issuance of common shares net of issuance costs of $141
     thousands

1,158,600

290

9,774

10,064

Share based compensation

159

159

BALANCE AT DECEMBER 31, 2023

10,377,085

$            3,140

$     76,335

$              27

$            (2,088)

$            13,269

$            90,683

CHANGES DURING THE PERIOD ENDED JUN
     31, 2024 (unaudited):

Comprehensive profit

164

(27)

4,727

4,864

Exercise of option

49,109

12

(12)

Change in foreign currency translation adjustments

Share based compensation

189

189

BALANCE AT JUN 30, 2024 (unaudited)

10,426,194

3,152

76,512

164

(2,088)

17,996

95,736

 

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

Three months ended

Six months ended

Year ended

June 30,

December 31,

2024

2023

2024

2023

2023

(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$  2,617

$  1,475

$ 4,727

$  2,133

$     4,672

Adjustments to reconcile net income (loss) to net cash
     provided by (used by) operating activities:

Depreciation and amortization

1,431

901

2,805

1,942

4,710

Loss (gain) from change in fair value of derivatives

22

(9)

Change in funds in respect of employee rights upon
retirement

15

(27)

20

(97)

116

Change in operating right of use asset and operating leasing
     liability

(3)

1

(6)

22

Non-cash financial expenses

(274)

(134)

(488)

(248)

(172)

 Decrease in restructuring plan provision

(43)

(32)

(63)

(90)

(126)

Change in allowance for credit losses

40

(2)

40

(5)

(182)

Share in results of affiliated companies

(233)

(153)

(431)

(221)

(503)

Share based compensation

148

30

189

120

159

Liability in respect of employee rights upon retirement

(5)

(47)

(2)

(127)

(148)

Capital gain from sale of property, plant and equipment

(1)

(29)

(355)

(485)

(530)

Deferred income taxes, net

306

(98)

(103)

(76)

235

Changes in operating assets and liabilities:

     Decrease (increase) in trade accounts receivable

(5,430)

3,137

(6,250)

1,123

(4,205)

    Decrease (increase) in other current assets and prepaid
    expenses

(144)

359

(325)

1,634

(341)

        Increase in inventory

(2,906)

(3,248)

(5,543)

(285)

(5,400)

    Decrease in trade accounts payable

(209)

(1,034)

(909)

(2,155)

(245)

    Increase (decrease) in accrued expenses and other

591

1,352

(982)

1,062

4,202

Net cash provided by (used in) operating activities from
   continued operation

$ (4,100)

$     2,450

(7,647)

$       4,219

$     2,255

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of property and equipment

375

1,306

1,935

2,002

Purchase of property and equipment

(978)

(1,021)

(1,967)

(2,454)

(5,102)

Purchase of intangible assets

(479)

Cash flows used in investing activities

$(978)

$ (646)

$  (661)

$(519)

$(3,579)

CASH FLOWS FROM FINANCING ACTIVITIES:

Repayments of long-term loans

(510)

(425)

(950)

(847)

(1,701)

Short-term credit received from banks

4,668

668

1,000

Proceeds from long-term loans received

712

Issuance of common shares

12

12

Proceeds from issuance of common shares, net

10,064

Exercise of options

(13)

165

(12)

165

165

Cash flows provided by (used in) financing activities

$  4,157

$ (260)

$  (282)

$(682)

$10,240

Net increase (decrease) in cash and cash equivalents and
restricted cash

(921)

1,546

(8,590)

3,018

8,916

 Cash and cash equivalents and restricted cash at
     beginning of period

9,273

9,498

16,942

8,026

8,026

 Cash and cash equivalents and restricted cash at the end
     of period

8,352

11,044

8,352

11,044

16,942

SUPPLEMENTARY INFORMATION ON INVESTING
     ACTIVITIES NOT INVOLVING CASH FLOW:

Additions of operating lease right-of-use assets and
     operating lease liabilities

245

590

1,345

Reclassification of inventory to property, plant and
     equipment

60

68

Supplemental disclosure of cash flow information:

Interest paid

(410)

(267)

(852)

(512)

(1,438)

 

TAT TECHNOLOGIES AND ITS SUBSIDIARIES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP)

(UNAUDITED)

(In thousands)

Three months ended

Six months ended

Year ended

June 30,

June 30,

December 31,

2024

2023

2024

2023

2023

Net income (Loss)

$ 2,617

$  1,475

$4,727

$ 2,133

$4,672

Adjustments:

Share in results and sale of equity
     investment of affiliated companies

(234)

(153)

(432)

(221)

(503)

Taxes on income (tax benefit)

44

(63)

(109)

(90)

576

Financial expenses (income), net

306

272

755

658

1,330

Depreciation and amortization

1,468

1,006

2,898

2,140

4,902

       Share based compensation

148

30

189

120

159

Adjusted EBITDA

$ 4,349

$ 2,567

$    8,028

$       4,740

$              11,136

 

SIGNATURE

            Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

TAT TECHNOLOGIES LTD.

            (Registrant)

 

By: /s/ Ehud Ben-Yair
Ehud Ben-Yair
Chief Financial Officer

 

Date: August 28, 2024

Photo – https://mma.prnewswire.com/media/2492171/EBITDA_Q224.jpg
Photo – https://mma.prnewswire.com/media/2492172/revenue_Q224.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/tat-technologies-grows-revenue-by-36-increases-net-income-by-78-and-increased-adjusted-ebitda-by-69-for-the-second-quarter-of-2024-302233529.html

SOURCE TAT Technologies Ltd.

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Technology

Passive Bitcoin Income: The Best Cloud Mining Platforms for Reliable Earnings

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A guide to short-term Bitcoin mining, featuring BitFuFu, ZT Mining, and Hashing24 for flexible contracts and quick profits.

READING, England, Dec. 24, 2024 /PRNewswire-PRWeb/ — Engaging in bitcoin mining presents an accessible and potentially lucrative venture for those intrigued by digital currencies but reluctant to endure the complexities and long timelines associated with traditional investment routes.

Short-term mining contracts are popular among beginners as they look to improve their understanding of the market. These contracts range from as brief as a day to several months, offering immediate entry into the mining scene without the long-term entanglements.

The appeal of short-term bitcoin mining is magnified by the ease of access to these services. Legit cloud mining platforms give individuals the opportunity to lease mining power remotely and eliminate traditional obstacles such as acquiring and maintaining hardware. Investors simply select a mining plan that aligns with their financial objectives and risk tolerance, and the platform handles the operational complexities

BitFuFu Cloud Mining

BitFuFu offers a diverse range of contracts, from short to medium-term, tailored to different risk appetites and investment levels. For those looking for quick, low-risk ventures, the Easy Mining plans range from 3 to 50 days, with a starting investment as low as . These plans are ideal for newcomers wanting to dip their toes in mining without significant upfront costs. For example, the Easy Mining 3 Days plan, with an estimated acquisition cost of 5,602.2, starts investments at , promising a low-risk and low-return profile.

On the other hand, BitFuFu’s Pro Mining contracts target more seasoned miners looking for higher returns, albeit with higher risks. The Pro Mining S19 XP 30 Days plan, for instance, boasts a 107.48% return, indicative of the lucrative possibilities for those willing to invest more heavily in their mining endeavors.

ZT Mining

ZT Mining lets you mine over ten different cryptocurrencies like Bitcoin, Dogecoin, Monero, and Zcash. This means you can pick and choose and not just stick to one kind, making it fun to try out different ones. They also make sure everything is super safe. They use special security to protect your information and have strong defenses against online attacks, so everything runs smoothly without any interruptions.

ZT Mining is really cool because it has lots of different mining contracts that can last just a day or even longer, so you can see how much money you can make in a short time or a bit longer. They have a special starter package for only $35, and it’s just for one day. If you try this, you’ll get $36 back the next day, which means you make a $1 profit.

That’s pretty awesome for just a day’s work, right? Plus, if you feel like going bigger, they have longer plans where you can earn a lot more money, like the 15-day plan for mining Dogecoin that can make you thousands in profit!

Hashing24

Hashing24 makes it easy to get into bitcoin mining with its straightforward contracts that last anywhere from 3 to 24 months. Every contract has a steady hash rate of 60 MH/s, perfect for those who want a predictable and simple mining experience.

For those just starting out or looking for a short-term investment, Hashing24’s 3-Month Plan is a great entry point. It’s priced at $22.20 and offers an estimated mining return of $22.21, essentially allowing you to make back your initial investment quickly. It is ideal for testing the waters of cloud mining without committing to a long-term plan.

Investors aiming for substantial long-term gains will find the 24-Month Plan an excellent option. Priced at $111.60, it offers a projected return of 159%, appealing to those prepared to commit to a longer investment period for significant earnings.

Conclusion

Picking the right cloud mining platform is super important if you want to make money with Bitcoin without doing much work. Platforms like BitFuFu, ZT Mining, and Hashing24 have different plans that last for various times and cost different amounts of money. This means you can find one that fits what you’re comfortable with, whether you’re just getting started with cryptocurrency or you want to make a lot of money. By choosing the best plan for you, you can make your money work for you and watch as it grows over time.

Media Contact

Nancy.Delia, ZT CLOUD SERVICES LIMITED, 44 7301463290, support@ztmining.com, https://ztmining.vip

View original content to download multimedia:https://www.prweb.com/releases/passive-bitcoin-income-the-best-cloud-mining-platforms-for-reliable-earnings-302338359.html

SOURCE ZT Mining

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Technology

CATL Launches the Bedrock Chassis That Withstands 120 km/h Impact Without Catching Fire or Exploding

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NINGDE, China, Dec. 24, 2024 /CNW/ — On December 24th, CATL officially launched the CATL Bedrock Chassis, the world’s first ultra-safe skateboard chassis. With its outstanding performance of withstanding 120 km/h frontal impact without catching fire or exploding, CATL’s Bedrock Chassis sets a new standard for intelligent chassis safety, providing comprehensive protection across all scenarios and speed ranges.

Lead the industry with the most stringent safety tests

With the battery-centered design, CATL’s Bedrock Chassis utilizes Cell-to-Chassis integration technology, which directly integrates the battery cells into the chassis, allowing for a shared structural design between them. And based on the decoupling of the chassis from the upper body, the Bedrock Chassis is capable of absorbing 85% of the vehicle’s collision energy (compared to around 60% absorbed by traditional chassis).

Through various technological breakthroughs, the Bedrock Chassis successfully passed the world’s first “highest speed + strongest impact” dual extreme safety test. This achievement enables the chassis to pass the 120 km/h frontal central pole impact test without catching fire, exploding or thermal runway, redefining the benchmark for safety in the industry.

Currently, the speed for frontal impact safety test in the commonly used C-NCAP (China New Car Assessment Program) is 56km/h, which, when experiencing a frontal impact at this speed, generates collision energy equivalent to falling from 12-meter-high building. In comparison, a frontal impact at 120km/h is equivalent to falling from a 56-meter-high building, generating a collision energy 4.6 times that of collision at 56km/h.

In more stringent frontal pole crash tests, which simulate crashes with non-standard objects such as power poles, large trees, or animals, the impact area is only 1/6 of that in a full-width frontal impact, exponentially increasing impact pressure. At a speed of 120km/h, the impact pressure on the chassis per unit area in a frontal central pole impact is 21 times that of the 56 km/h full-width frontal impact in C-NCAP testing.

Due to the extremely high crash speed and intensity, there has been no previous instance of any new energy vehicle daring to challenge a 120km/h frontal pole impact test. With this extreme challenge, CATL’s Bedrock Chassis has blazed a fresh trail for the industry.

Open the era of ultra-safe transportation through three technological breakthroughs

CATL’s Bedrock Chassis has delved deep into the realm of structure and material innovation, leveraging three technological breakthroughs to provide unparalleled protection in all scenarios and speed ranges, ensuring rock-solid safety for the entire vehicle.

The CATL Bedrock Chassis introduces a revolutionary three-dimensional biomimetic tortoise shell structure, where the body and energy unit framework are integrated, deeply coupled to provide the energy unit with indestructible protection. And its aircraft carrier-grade arresting structure disperses impact forces across multiple pathways during a crash, gradually decelerating the vehicle and significantly reducing the depth and speed at which obstacles intrude the cabin. The utilization of submarine-grade hot-formed steel with a strength of 2000MPa, aerospace-grade aluminum alloy with a strength of 600MPa, and multiple barrier structures further enhance the chassis’ rigidity, making it virtually impervious.

Moreover, the CATL Bedrock Chassis incorporates an ultra-safe battery cell design, NP technology, and a high-ductility energy-absorbing insulation film, leading the industry in a groundbreaking manner. In terms of high-voltage disconnection, it achieves instantaneous disconnection of high voltage circuit within 0.01 seconds of impact and completes the discharge of residual high-voltage energy in the vehicle within 0.2 seconds, setting a new industry record.

Notably, the battery cells have undergone highly demanding tests, including high-speed sled impact tests at 60 km/h, 90-degree bending tests, and breakthrough sawing tests, the battery did not catch fire or explode across all three tests. These tests, all industry-firsts by CATL, have elevated the safety standards of battery cells to new heights.

Unlocking the era of customization, and activating a trillion-yuan market

The launch of the Bedrock Chassis not only redefines the standard for intelligent chassis safety but also activates a trillion-yuan market. It greatly accelerates the shift towards modular, personalized, and intelligent automotive design.

Addressing the common pain points of high investment, long development cycles, and accelerated product iteration in the industry, the Bedrock Chassis incorporates three core characteristics: internal integration, decoupling of the chassis from the upper body, and external openness. With a rich array of toolkits and solution packages, it offers a scalable software and hardware architecture and standardized interfaces, enabling flexible configurations for different vehicle models and scenarios. This allows the realization of a “one chassis architecture, multiple vehicle models” concept and significantly improves development efficiency and shortens the R&D cycle. The time required for mass production of a vehicle is reduced from the traditional 36 months or longer to 12 to 18 months.

Furthermore, the Bedrock Chassis breaks the limits of safety and modeling, and expands design flexibility through the design of decoupling of the chassis from the upper body. The fourth-generation Cell-to-Chassis (CTC) technology and inverted battery cell technology enhance the utilization of chassis space while reducing the risk of chassis scraping. Additionally, in terms of intelligence, the chassis supports mechanical decoupling, software decoupling and EE decoupling, enabling L3 to L4 intelligent driving capabilities. It provides high adaptability interfaces and promotes collaborative intelligent applications.

At the launch ceremony, AVATR, the first automaker to use Bedrock Chassis, and CAIT-SH, CATL’s skateboard chassis arm, signed an agreement to deepen cooperation on CATL’s Bedrock Chassis to create a safer, higher-quality travel experience for users.

Safety is a never-ending journey. In the future, CATL will continue to break technological barriers through continuous innovation, and work with partners to build a safe ecosystem for EV batteries and vehicles, safeguarding the safety of users.

View original content to download multimedia:https://www.prnewswire.com/news-releases/catl-launches-the-bedrock-chassis-that-withstands-120-kmh-impact-without-catching-fire-or-exploding-302338927.html

SOURCE Contemporary Amperex Technology Co., Limited (CATL)

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Live Good: A Journey of Courage, Education and Purpose

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Live Good is the realization of one individual’s inspiring vision to create something meaningful to share with the world.

IRVINE, Calif., Dec. 24, 2024 /PRNewswire/ — Founded on the principles of time, education and a sense of purpose, Live Good aspires to empower individuals through access to transformative learning opportunities.

“When I finally found the courage to create Live Good, I wanted it to embody the values and principles that I find meaningful,” said Jennifer Chi, founder of Live Good. “To me, the most precious resource in life is time. The time you spend can never be reclaimed. If I was going to spend all this time and energy on something, it had to be something I deeply believed in.”

The second cornerstone of Live Good is education. Drawing from personal experiences, Jennifer emphasizes education as a life-changing force. Books became vital growing up, opening windows to new perspectives and worlds. “My favorite book as a child was Little House on the Prairie by Laura Ingalls Wilder,” Jennifer shared. “It may have been a simple book about a girl living in the 1800s learning how to cook and do chores to help her family, but now I understand how incredible it was that a little girl living back then even knew how to read and write. She had the foresight to understand that writing about her life on the prairie, however simple it seemed, might be of some importance in the future. And she had the courage to publish her own words.”

Recognizing the transformative power of education and the impact of mentorship, Live Good prioritizes access to education as a central mission. “My love for reading and curiosity for learning became a lifeline,” Jennifer added. “I was blessed with teachers who saw potential in a very quiet and shy little girl. Live Good is my way of giving others the same opportunities that once gave me a little spark inside and a pathway forward.”

Through innovative programs and partnerships, Live Good aims to make education accessible and foster growth and resilience. It’s more than an initiative—it’s a testament to the belief that every moment spent on meaningful endeavors can ripple out to create a brighter future for others.

Live Good proudly aligns with educational models, such as Capstone Programs in the University of California (UC) school system. These programs serve as a bridge between academic learning and real-world application, embodying the mission of Live Good by fostering life-changing learning experiences.

Other educational initiatives focus on collaborating with Women in Information and Computer Sciences within the UC system to create programs that empower women through high-tech training. Additionally, Live Good offers a mentorship program for at-risk youth from schools spanning San Francisco to Southern California to foster college admission and equip students with the skills they need to realize their dreams.

For more information about Live Good Inc, and to sign up for their newsletter, visit Live Good Inc. Follow on Instagram, Facebook and Threads.

Contact:
Adrienne Johnson
***@gmail.com

Photos:
https://www.prlog.org/13053993

Press release distributed by PRLog

View original content:https://www.prnewswire.com/news-releases/live-good-a-journey-of-courage-education-and-purpose-302338750.html

SOURCE Live Good Inc.

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