Technology

Korean Government Officially Designates Korea Zinc’s Precursor Technology as National Core Technology and National High-tech Strategic Technology

Published

2 months ago

November 18, 2024

SEOUL, South Korea, Nov. 18, 2024 /PRNewswire/ — Korea Zinc (KRX:010130), the world’s leading non-ferrous metal smelting company, announced today that its precursor technology, a key material for secondary batteries, has been designated as “national core technology” and “national high-tech strategic technology” by the Korean government.

The precursor technology, jointly owned by Korea Zinc and its subsidiary KEMCO, has been recognized for its significant technical and economic value in both domestic and international markets, as well as its potential for industrial growth. The government’s decision also acknowledges that should the technology be leaked abroad, it could have a serious negative impact on national security and the country’s economic development.

With this ruling, Korea Zinc will now be able to build a foundation to establish a stable self-sufficient supply chain for precursors, a key material for secondary batteries, using entirely homegrown technology. The company will also begin implementing protective measures against overseas technology leaks in accordance with relevant laws.

The Korea Zinc technology that has been recognized as both national core technology and national high-tech strategic technology is the “technology for manufacturing and processing of cathode active material precursor with a nickel (Ni) content exceeding 80% for lithium-ion batteries.” Korea Zinc submitted its application for this designation to the Ministry of Trade, Industry, and Energy in September, and after two rounds of expert evaluations, the designation was recently finalized.

According to the Ministry of Trade, Industry, and Energy, the technology is classified under the electrical and electronic sector in the national core technology category and the national high-tech strategic technology’s secondary battery sector.

Through the Industrial Technology Protection Act (ITPA ) (Act on Prevention of Divulgence and Protection of Industrial Technology), the government gives national core technology designation to technologies with high technical and economic value in domestic and international markets, or those with significant growth potential in related industries that if leaked abroad, could seriously threaten national security and economic development. More than 70 technologies across sectors like semiconductors, displays, electronics, shipbuilding and nuclear energy are currently designated and managed as national core technology.

Under the National Advanced Strategic Industry Act (NASIA) (Special Measures Act on Strengthening and Protecting the Competitiveness of National High-tech Strategic Industry), technologies with significant national and economic security impact, as well as substantial economic effects in terms of exports and employment, are designated as national high-tech strategic technologies.

With this designation, Korea Zinc’s technology will be subjected to strict regulations. The company plans to implement protective measures under Article 10 of ITPA and Article 14 of NASIA. Furthermore, any export of this technology, or any foreign investment involving mergers, acquisitions or joint ventures, will require approval from the Minister of Trade, Industry, and Energy, as per Article 11 of ITPA and Article12 of NASIA.

Domestic battery companies have been relying almost exclusively on China for cathode active materials (CAM), including precursors. According to the Korea Trade Insurance Corporation, as of H1 2023, 97% of domestic precursor imports came from China, raising significant concerns for economic security. In response, Korea Zinc has been accelerating efforts to establish a mass domestic production system for high-nickel precursors to secure a local supply chain for the secondary battery industry, a national high-tech strategic industry. To achieve this, the company began construction of an all-in-one nickel smelter in Ulsan, Korea through its subsidiary KEMCO last November, with trial operations scheduled for next year.

In 2022, KEMCO and LG Chem formed a joint venture called Korea Precursor Corporation (KPC). In March, for the first time in the world, KPC completed construction of a precursor production plant with process innovation applied, yielding an annual capacity of 20,000 tons. The plant successfully produced prototypes just two weeks after the test run began. Notably, it was the first in the world to apply a method that dramatically increases the process capacity of the precursor production process, including the use of the world’s largest capacity reactor during test run and prototype production. This innovation is expected to allow KPC to produce higher-quality precursors more efficiently than its competitors, including Chinese companies.

Korea Zinc anticipates that its proprietary technology will shorten overall processing times, reduce processing costs and improve line efficiency, thereby enhancing productivity and quality in precursor manufacturing. The designation of this technology as national core technology is expected to bolster the nation’s global competitiveness. Moreover, by diversifying the supply chain of critical minerals for domestic battery materials, Korea Zinc aims to reduce dependence on any single country and contribute to the economic security of the battery industry.

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SOURCE Korea Zinc

Technology

Walletium Introduces the TEX Token

Published

15 seconds ago

January 14, 2025

LONDON, Jan. 14, 2025 /CNW/ — Walletium lets customers manage digital assets and traditional currencies on their own terms — all in one place. With the help of Walletium’s native TEX token, sending tokens becomes simpler and faster — even if customers don’t hold them beforehand.

TEX is the operational backbone of the Walletium network:

Transaction Fuel: Powers swaps and internal fees.Real Utility: Grows with platform adoption, rewarding everyday usage.Fair Pricing: Launched at $0.05, reflecting real demand rather than hype.

Central to Walletium is the Walletium Keyring, a universally formatted system for addresses and assets. Customers can freely import, create, and manage their addresses and private keys—without rigid workflows. We’ve designed Walletium to adapt to our customers, ensuring convenience never compromises security.

One of Walletium’s standout innovations is its near-zero fee internal transfers, covering token swaps and P2P transactions. Inside the Walletium ecosystem, customers can send tokens quickly and at minimal cost—even if they temporarily lack that token. TEX fuel dynamically covers these transactions, letting customers interact with any listed token whenever they need it.

To make Walletium user-friendly, we’ve integrated with Telegram via our Walletium Telegram Wallet. Customers can manage crypto on the go without extra installations or complex steps. Whether a new user or a seasoned pro, Walletium adapts to the user’s preferred style.

Walletium goes further than most wallets by offering direct fiat functionality. Load crypto into a virtual card and spend fiat wherever cards are accepted. No more juggling multiple platforms—store, send, and spend both digital and traditional currencies side by side.

Walletium is more than just another wallet; it’s the future of seamless finance. Join us and discover why Walletium is “One to Hold It All.”

Official Wallet: https://t.me/walletiumbot Official Site: https://walletium.netWalletium Wiki: https://wiki.walletium.net

Photo – https://mma.prnewswire.com/media/2595656/Walletium.jpg
Logo – https://mma.prnewswire.com/media/2596664/Walletium_Logo.jpg

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SOURCE Walletium

Technology

Northeast Trade Services Joins Summit Automation as A New MMR

Published

17 seconds ago

January 14, 2025

Summit Automation, the premier door and window automation company, is proud to announce the addition of Northeast Trade Services (NETS) as a new Master Manufacturing Representative (MMR) to its growing roster of authorized partners. Northeast Trade Services will be covering Maine, New Hampshire, Vermont, Connecticut, Rhode Island, and portions of New York outside the areas of New York City and Long Island.

MESA, Ariz., Jan. 14, 2025 /PRNewswire-PRWeb/ — Summit Automation, the premier door and window automation company, is proud to announce the addition of Northeast Trade Services (NETS) as a new Master Manufacturing Representative (MMR) to its growing roster of authorized partners. Northeast Trade Services will be covering Maine, New Hampshire, Vermont, Connecticut, Rhode Island, and portions of New York outside the areas of New York City and Long Island.

“We are beyond excited to begin our expansion into the northeastern United States with Northeast Trade Services, a top-tier window and door installation company,” said Patrick (PJ) Gruetzmacher, CEO of Summit Automation.

A veteran-owned company, Summit Automation proudly invents, engineers, manufactures, and provides the best door and window automation systems in the world, all crafted right here in the USA. The company focuses on high quality, state-of-the-art automation systems that are fully integrated with other home automation components and smart homes to provide ease, convenience, elegance, and a touch of luxury to homes and businesses. Summit Automation’s residential and commercial systems are ETL listed, UL325 compliant, and they are suitable for all sized sliding and pivoting doors and windows.

“We are excited to announce our partnership with Summit Automation,” said Keenan Burns, Co-Founder of Northeast Trade Services. “This collaboration allows us to combine our strengths and deliver automation solutions that enhance both the functionality and value of our installations for our customers. Together, we share a vision of innovation, growth, and providing best-in-class solutions to our customers.”

Michael Roy, Co-Founder of Northeast Trade Services, commented, “Summit Automation provides the best automation solutions for windows and doors, and we are pleased to join their team as a Master Manufacturing Representative. We take great pride in our specialization in window and door installations, and we are thrilled to bring that same level of expertise to the field of automation solutions.”

Northeast Trade Services was born from the knowledge that even the best windows and doors are only as good as a quality installation. With a combined 60 years of experience, founders Keenan Burns and Michael Roy bring a unique skill set to the industry. They are committed to delivering exceptional results for customers and work closely with the trades community throughout the process to ensure the best solutions are achieved.

About Summit Automation:

Summit Automation (https://SummitAutomation.com/) invents, engineers, manufactures, and provides automation systems for homes and businesses across the world. The cutting-edge, reliable systems are easily operated via tamper-proof touchscreen keypads, a smartphone app, smart motion sensors, or voice commands. Summit Automation systems are available exclusively through OEM partners, MMRs, certified dealers, and installers.

Company Contact:

Patrick (PJ) Gruetzmacher, CEOEmail: PJGruetzmacher@SummitAutomation.comPhone: 480-500-5468Website: https://SummitAutomation.com/

About Northeast Trade Services:

Northeast Trade Services (https://netradeservices.com) provides window and door installation, performance testing, and consultation services to the builder and architectural community. The company specializes in providing trade professionals with turnkey window and door installation services – so crews can focus on other parts of projects. Their team of professional installers delivers a seamless experience on residential and light commercial projects.

Company Contacts:

Keenan Burns – Co-FounderMichael Roy – Co-FounderEmail: info@netradeservices.comPhone: Keenan Burns 207-691-0377, Michael Roy 207-542-9985Website: https://netradeservices.com

Media Contact

Patrick (PJ) Gruetzmacher, CEO, Summit Automation, 1 480-500-5468, PJGruetzmacher@SummitAutomation.com, https://SummitAutomation.com/

Keenan Burns & Michael Roy, Northeast Trade Services, 1 207-691-0377, info@netradeservices.com, https://netradeservices.com

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SOURCE Summit Automation

Technology

BforeAI Secures Series B Funding to Preempt Malicious Attacks Through PreCrime™ AI

Published

19 seconds ago

January 14, 2025

Funded by Titanium Ventures, investment will accelerate growth into new markets

NEW YORK, Jan. 14, 2025 /PRNewswire/ — BforeAI, the world’s fastest and most accurate predictive attack intelligence and digital risk protection solution, announced today the company has closed an oversubscribed $10 million Series B round of funding led by Titanium Ventures. This investment round brings the company’s total funding to over $30 million and will accelerate market expansion in the utilities, pharmaceutical and healthcare sectors as the company continues to enhance its PreCrime™ platform, expand sales resources, and strengthen partnerships.

“This investment round will enable us to continue our important work to predict and stop new types of attacks before businesses and their customers are harmed,” said Luigi Lenguito, CEO and Founder at BforeAI. “We did not need the additional funding as we closed Series A with SYN Ventures less than 6 months ago. We wanted to work with Titanium Ventures to accelerate our growth into new industry sectors where we have already seen recent success and further increase the scalability of our predictions.”

“BforeAI offers a unique solution in a crowded cybersecurity market, being able to predict, disrupt and stop a cybersecurity event before it happens, putting the customer ahead of the attacker and out of their reactive response mode,” said Marcus Bartram, General Partner at Titanium Ventures. “Titanium thinks that this capability is important and relevant to customers globally and are excited to be working with the BforeAI team to build a large and impactful company.”

BforeAI’s mission is to proactively safeguard data, IT/OT networks, digital assets, customers, employees, and brand reputation. Enabling organizations to effectively preempt risks in advance of an attack, the PreCrime platform is powered by behavioral predictive intelligence, monitors 98% of the Internet to stay ahead of cyber threats by 18 days on average, and has a false positive rate of a mere 0.05%.

Over the past year, BforeAI grew substantially and achieved key milestones, including launching the PreCrime Guarantee and its breach protection pledge in partnership with the leading global cyber insurance provider. The PreCrime Guarantee reimburses customers up to ten times the value of their service contract if impacted by a cyberattack due to a failure by BforeAI’s predictive solution. Most recently, BforeAI was recognized in the 2024 Gartner® Cool Vendors™ for Artificial Intelligence in Banking and Investment Services1. The report serves as a guide to help chief information security officers (CISO), chief information officers (CIO), and chief data officers (CDO) in financial services and cyber fraud fusion centers identify solution partners for quick detection of risks and preemptive action before a fraud attempt even happens.

“BforeAI has quickly proven itself as the leader in predictive security solutions,” said Maria Gotsch, President and CEO, Partnership Fund for New York City. “We were excited to support BforeAI’s relocation of its headquarters to New York following their participation in our FinTech Innovation Lab. By expanding their focus to utilities with this funding round, BforeAI has the potential to play a key role in protecting critical infrastructure in the city and beyond.”

Existing investors SYN Ventures, Karista, and Addendum Capital, recognizing the company’s strong growth trajectory, participated in this round to maintain their ownership stakes.

Stamina Law in New York City, by Jade Ruscev, provided legal counsel to the company for the financing round.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About BforeAI
BforeAI is a pioneer in Predictive Attack Intelligence and Digital Risk Protection Services (DRPS). Our PreCrime platform uses behavioral AI to predict and automatically preempt malicious campaigns, resulting in the fastest, most accurate solution to stop attacks weeks before they happen. To learn more, visit bfore.ai.

About Titanium Ventures
Titanium Ventures Accelerates the Extraordinary – the venture capital firm fuels the growth of standout disruptors. In its first twelve years, 104 investments have generated 44 liquidity events including Auth0, BigCommerce, Box, Cloopen, CrowdStrike, DocuSign, GitLab, Nasuni, OpenGov and Snap. To date, Titanium Ventures’ Revenue Acceleration Platform has driven >USD$660M in revenue for its portfolio companies, extending their reach across the U.S., Australia, Asia, and the UK. In 2022, the firm announced the close of its third fund, bringing Funds Under Management to USD$1 B. To see Titanium Ventures’ full portfolio and learn more, visit www.ti.vc.

1 Gartner, Cool Vendors for Artificial Intelligence in Banking and Investment Services by Jasleen Kaur Sindhu, Uri Lerner, Pete Redshaw, 6 November 2024.

Media Contact:
Andy Tzortzinis
Director of Brand and Product Marketing
BforeAI
media@bfore.ai

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SOURCE BforeAI