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Global Finance & Technology Network Launched by the Monetary Authority of Singapore to Foster Global Collaboration in FinTech

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Ravi Menon appointed as Chairman of the Board of Directors

SINGAPORE, Oct. 30, 2024 /PRNewswire/ — The Monetary Authority of Singapore (MAS) announced the establishment of the Global Finance & Technology Network (GFTN) to harness technology and foster innovation through global partnerships for more efficient, resilient, and inclusive financial ecosystems.

Mr Ravi Menon has been appointed Chairman of the Board of Directors of GFTN. Mr Menon is also Singapore’s Ambassador for Climate Action and Senior Adviser (National Climate Change Secretariat) at the Prime Minister’s Office.

Mr Leong Sing Chiong, Deputy Managing Director of MAS, and Mr Neil Parekh, Nominated Member of Parliament, Singapore & Non-Executive Chairman (till recently Partner and Head of Asia & Australia) at Tikehau Capital, have been appointed as Deputy Chairmen.

Mr Sopnendu Mohanty, currently Chief FinTech Officer at the MAS, will be appointed Group Chief Executive Officer of GFTN, with effect from 1 February 2025 when he will relinquish his role in MAS.

GFTN will aim to enhance global connectivity for impactful innovation in financial services internationally and strengthen Singapore’s position as a global FinTech hub. It will build on the success of Elevandi, a not-for-profit company set up by MAS in 2021 to organise and globalise the Singapore FinTech Festival (SFF), which has grown to become the largest FinTech event of its kind in the world attracting some 65,000 participants from 150 countries.

GFTN will have four strategic businesses:

GFTN Forums – a global conference convenor dedicated to finance and technology.GFTN Advisory – a knowledge centre offering practitioner-led advisory services and research on innovation policies and ecosystems.GFTN Platforms – a digital platform service provider for businesses, especially small and medium enterprises.GFTN Capital – an investment fund for technology start-ups that have the potential for sustained growth and positive social impact.

GFTN’s Board of Directors (BoD) will be guided by an International Advisory Board (IAB) comprising distinguished, globally recognised leaders with a demonstrated commitment to the public interest. Details of the BoD and IAB will be announced at the SFF on 6 November 2024.

“GFTN will drive greater synergies within the global finance and technology communities for innovations in financial services that create positive economic value and social impact. We aim to unlock sustainable and inclusive pathways that serve communities around the world while strengthening Singapore’s global connectivity and role as a FinTech hub,” said Mr Menon.

“The global financial technology (FinTech) and innovation ecosystem has witnessed significant growth over the past decade, with the MAS playing a pivotal role in this development. This expansion has established a robust foundation for a reimagined global platform. GFTN is aimed at addressing the evolving requirements of the global FinTech ecosystem, and is strategically positioned to realise our mission through the integration of convening forums, advisory, digital platforms, and capital,” shared Mr Mohanty.

About the Global Finance & Technology Network (GFTN)
The Global Finance & Technology Network (GFTN) is a not-for-profit organisation established by the Monetary Authority of Singapore (MAS) in 2024 to harness technology and foster innovation for more efficient, resilient, and inclusive financial ecosystems through global partnerships. GFTN convenes forums, offers advisory services on innovation ecosystems, provides access to transformative digital platforms, and invests in technology startups with the potential for growth and positive social impact through its venture fund.

Logo – https://mma.prnewswire.com/media/2544042/4997072/GFTN_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/global-finance–technology-network-launched-by-the-monetary-authority-of-singapore-to-foster-global-collaboration-in-fintech-302291049.html

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State Grid Xuzhou Power Supply Company: “inspection replacement” to improve the quality and efficiency of power transformation operation and maintenance

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XUZHOU, China, Oct. 30, 2024 /PRNewswire/ — A few days ago, the State grid Xuzhou power supply company Suining power transformation operation and maintenance class in the team station, respectively, 110kV Suining and Guanshan change to carry out online intelligence patrol, marking the State grid Xuzhou power supply company into the “inspection replacement” new era.

Compared with the previous use of video surveillance means for macro monitoring of the security environment in the station, the intelligent patrol system through high-precision video acquisition equipment, focusing on transformers, circuit breakers, isolation switches and other key equipment in the substation. In addition, the intelligent patrol system can collect equipment appearance status, oil temperature, gas pressure value and other important production and operation data in real time, and upload it to the main station host in the region in time for centralized storage and automatic analysis.

It is worth mentioning that the intelligent patrol system also integrates advanced artificial intelligence algorithms, which can automatically identify equipment defects, as well as potential alarms such as equipment overheating, oil level anomalies, and gas leaks, to achieve unmanned automatic patrol. Through this move, not only greatly improve the inspection efficiency, but also significantly enhance the accuracy and timeliness of defect detection, and provide a strong guarantee for the safe and stable operation of the substation.

It is estimated that in the trial operation stage, the efficiency of the intelligent patrol system is 50% higher than that of the traditional manual patrol. At present, it is the autumn maintenance peak of the power grid. In order to test the accuracy and stability of the system, the manual inspection is still carried out normally, forming a dual-track operation with the intelligent patrol.

View original content:https://www.prnewswire.com/apac/news-releases/state-grid-xuzhou-power-supply-company-inspection-replacement-to-improve-the-quality-and-efficiency-of-power-transformation-operation-and-maintenance-302291152.html

SOURCE State Grid Xuzhou Power Supply Company

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Quintus Unveils World’s Largest High Pressure Processing System

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Model QIF 600L HPP Press Scales New Productivity Heights

VÄSTERÅS, Sweden, Oct. 30, 2024 /PRNewswire-PRWeb/ — With the debut of the QIF 600L High Pressure Processing (HPP) system, Quintus Technologies once again raises the bar in high pressure processing. The new press model, launching today, offers an impressive 600-litre cycle capacity, the largest in the industry. Its generous 18.5 inches (47 cm) pressure vessel diameter improves load efficiency and accommodates more packages per cycle. Equipped with up to 12 intensifiers, the scalable system can process 9,140 lbs. (4,150 kg.) per hour to meet the most demanding production needs.

“As the array of food and beverage products that benefit from high pressure processing continues to grow, so does the demand for HPP capacity—and productivity,” says Ed Williams, General Manager – Americas, Quintus Technologies

High Pressure Processing is recognized globally as the premium, non-thermal minimal-processing technique to produce safer, preservative-free refrigerated foods and beverages. By using ultra-high pressure instead of heat or chemicals, HPP inactivates foodborne pathogens to ensure product safety while maintaining freshness, taste, and nutritional value.

“As the array of food and beverage products that benefit from high pressure processing continues to grow, so does the demand for HPP capacity—and productivity,” says Ed Williams, General Manager – Americas, Quintus Technologies. “Our new QIF 600L responds to these needs, increasing throughput per cycle and boosting overall production capacity while lowering per unit costs.”

A multitude of advanced features to maximize system availability make the press an efficient, cost-effective solution in high-volume environments. All components that require regular maintenance or inspection are easily accessible. An integrated condition monitoring system uses AI algorithms to predict the need for maintenance of vital components, reducing the risk of unplanned stops. “SmartPress,” easy-to-use cloud-based press management software, provides extensive support for the press operation and maintenance as well as a fast, direct line to Quintus support and guaranteed access to spare and wear parts.

“These high-performing solutions reflect Quintus’s leadership role in high pressure for nearly three-quarters of a century,” Mr. Williams comments. “Our groundbreaking achievements include the development of the first commercially viable HPP system for food and beverage applications in 1995. Our wire wound pressure vessel design is widely acknowledged to be the safest, most reliable, and durable pressure containment system ever invented.”

Quintus press offerings are accompanied by the industry’s best-in-class HPP service program, Quintus® Care, a customized service solution that ensures operational reliability, maximum performance, controlled annual costs, and long-term partnership. Application support is available at the company’s HPP Application Centers in the U.S., Sweden, and China, where food science experts help processors reduce delays in bringing new HPP products to market. The menu of services spans the entire HPP development process, from optimized product formulations and packaging, in-house pathogen validation, and shelf-life studies to assistance with HACCP implementation and regulatory compliance and optimizing processing parameters for maximum ROI.

“As the originator of HPP technology, we are proud to see our presses play a part in helping industry address global safety and sustainability challenges such as food waste, product recalls, and related foodborne illnesses,” states Johan Hjärne, CEO of Quintus Technologies. “With the addition of the scalable QIF 600L, we now have a gamut of state-of-the-art, high-performance press models that give processors of all sizes a competitive edge.”

Depending on intensifier configuration, the QIF 600L press scales from 6,860 lbs. to 9,140 lbs. (3,110 kg. to 4,150 kg.) per hour.

Visit the Quintus HPP team at Pack Expo in Chicago, IL, Nov. 3-6, 2024, in the Processing Zone, Booth LU-7566.

About Quintus Technologies

Quintus Technologies is the global leader in high pressure technology. The company designs, manufactures, installs, and supports high pressure systems in three main areas: densification of advanced materials; sheet metal forming; and high pressure processing for food and beverage innovation, safety, and shelf life. Quintus has delivered over 1,900 systems to customers within industries such as energy, medical implants, space, aerospace, automotive, and food processing. The company is headquartered in Västerås, Sweden, with a presence in 45 countries worldwide. For more information, visit https://quintustechnologies.com/

Media Contact
Ed Williams, Quintus Technologies, 1 (614) 891-2732, ed.williams@quintusteam.com, quintustechnologies.com

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SOURCE Quintus Technologies

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Empowering ESG and Supporting Global Sustainability Goals with Raytron Infrared Thermal Imaging

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YANTAI, China, Oct. 30, 2024 /PRNewswire/ — Raytron Technology Co., Ltd., a leading company in infrared thermal imaging, is driving innovation to support Environmental, Social, and Governance (ESG) initiatives through advanced thermal imaging solutions. These solutions are widely applied in industries such as firefighting, industrial automation, power safety monitoring, renewable energy, and wildlife conservation, contributing to reduced carbon emissions and improved safety standards. The company continues to practice ESG in its own operations.

Environmental: Committed to Green Development

Raytron prioritizes minimizing hazardous waste and reducing energy use by leveraging innovative technologies, fostering a green, low-carbon, and circular economy. The company delivers specialized infrared thermal imaging solutions across coal, power, and renewable energy sectors, supporting these industries’ transitions toward a sustainable economy. Furthermore, Raytron’s infrared thermal imaging technology significantly aids wildlife conservation and forest fire prevention initiatives, actively supporting ecological balance and enhancing biodiversity through science-driven approaches.

Social: Advancing Together with Employees and the Community

Raytron is dedicated to social responsibility, prioritizing both employee growth and community well-being. With more than 3,000 employees, 48% of which are R&D personnel, Raytron has been authorized and accepted a total of 2,879 intellectual property projects, highlighting its commitment to talent development and innovation. Raytron also actively supports education and community initiatives, contributing through educational fund donations and the provision of infrared thermal imaging devices.

Governance: Advancing Together with Stakeholders

Raytron fosters strong communication with current and potential investors, enhancing transparency through regular, multi-channel updates that prioritize investor protection. The company upholds rigorous operational standards, supported by a robust internal control system and compliance with multiple management standards, including ISO 9001, IATF 16949, QC 080000, ISO 14001, ISO 45001, and ISO 27001, ensuring mass production and quality management. Raytron’s high production capacity and comprehensive quality framework have secured market trust and consistently met customer expectations.

Raytron remains dedicated to its mission of creating customer value with technological advancement. In 2024, Raytron released the world’s first 6μm uncooled infrared thermal sensor which will expand infrared technology applications across more industries. With integrity in our relationships with suppliers, customers, and consumers, Raytron is committed to advancing sustainable development, upholding environmental stewardship, engaging stakeholders with integrity and quality, and fostering sustainable, harmonious growth for both the company and whole society.

For further information:

Raytron Marketing Department

E-mail: sales@raytrontek.com 

Website: https://en.raytrontek.com/

Facebook: https://www.facebook.com/profile.php?id=61561956133815  

View original content:https://www.prnewswire.com/news-releases/empowering-esg-and-supporting-global-sustainability-goals-with-raytron-infrared-thermal-imaging-302290916.html

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