Connect with us

Technology

Canaan Inc. Signs Agreement with AGM Group Holdings Inc.

Published

on

Provides 2000 A15 Hydro Bitcoin mining machines in initial order
Continues global expansion with addition of new customer

SINGAPORE, Dec. 12, 2024 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced that Canaan Creative Global Pte. Ltd. (“CCG”), a wholly owned Singapore subsidiary of the Company, has entered into a purchase agreement with AGM Group Holdings Inc. (“AGMH”), an integrated technology company specializing in fintech software services and production of high-performance hardware and computing equipment, for its Avalon A15 HydU 370T (“A15 Hydro”) mining machines.

As part of the agreement, Canaan will initially provide 2,000 Bitcoin mining machines to AGMH. The Company has also agreed to provide its customer with an option to acquire approximately 30,000 additional BTC mining units, potentially providing AGMH with a combined power capacity not exceeding 300 megawatts.

The Avalon Miner A15 Hydro enhances the miner’s performance and lifespan while reducing energy consumption and noise pollution, aligning with Canaan’s ESG (Environmental, Social, and Governance) strategy.

About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in bitcoin‘s history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.

Safe Harbor Statement
This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.’s strategic and operational plans, contain forward−looking statements. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward−looking statement, except as required under applicable law.

Investor Relations Contacts
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com

ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com

View original content:https://www.prnewswire.com/news-releases/canaan-inc-signs-agreement-with-agm-group-holdings-inc-302330362.html

SOURCE Canaan Inc.

Continue Reading
Click to comment

Leave a Reply

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

Technology

Sino Jet and Honeywell Expand Collaboration to Enhance Business Aviation Intelligence

Published

on

By

HONG KONG, Dec. 12, 2024 /PRNewswire/ — Sino Jet is delighted to announce that it has unveiled a major strategic initiative at the Middle East and North Africa Business Aviation Association (MEBAA) exhibition 2024 – the launch of its Middle East International Headquarters and the signing of a significant Memorandum of Understanding (MoU) with Honeywell, a global leader in aerospace technology. This partnership not only underscores the commitment of both entities to deepen their collaboration across various sectors such as aviation services and cutting-edge technology development, but also represents a pivotal advancement in Sino Jet’s journey towards global expansion and intelligent transformation.

As a leading business aviation company in the Asia-Pacific, Sino Jet has consistently prioritized technological innovation as the cornerstone, constantly improving service quality and operational efficiency. The opening of the Middle East International Headquarters is a key component of Sino Jet’s strategic global growth. Honeywell, having been a long-standing strategic partner, is fully committed to supporting Sino Jet’s global development, and the two will work even more closely globally.

According to the MoU, both parties will collaborate extensively on next-generation connectivity technologies, including Honeywell JetWave™ X satellite communication system. Honeywell has already supplied Sino Jet’s fleet with various connectivity solutions, such as data link subscriptions, navigation, and terrain databases, and has also established a strong partnership in after-sales parts support. This enhanced collaboration will further elevate the intelligence of Sino Jet’s fleet, offering customers a more seamless and efficient flying experience.

“We are excited to be further strengthening our partnership with Honeywell as we celebrate the opening of Sino Jet’s Middle East International Headquarters. At Sino Jet, we believe that innovation is the key driver behind our business growth and the digital transformation of the business aviation industry.” Said Chris Wu, the president of Sino Jet International. “The advanced connectivity technologies and solutions provided by Honeywell have greatly benefited our clients, offering them significant convenience and value.  We are eager to collaborate with Honeywell on the upcoming next-generation JetWave™ X satellite communication system, aiming to elevate the customer experience in the business aviation sector to unprecedented levels while ensuring even higher standards of safety and operational excellence.”

Sino Jet has long prioritized “Digital Aviation” as a strategic focus, and the company has made significant strides in the industry. It has developed a comprehensive digital management system that spans the entire lifecycle of aircraft operations and has successfully launched the “Smart Sino Jet” operations center. This initiative has led to substantial enhancements in both safety and operational efficiency. The collaboration with Honeywell is set to further accelerate Sino Jet’s digital transformation and safety operations, reinforcing its position at the forefront of the industry.

“Staying connected is critical to flight safety and efficiency. Honeywell’s satellite communications systems provide operators, passengers, and crew with reliable, consistent connectivity throughout the world,” said Jason Wissink, Vice President & General Manager, Services and Connectivity, Honeywell Aerospace Technologies. “We are honored to further deepen our collaboration with Sino Jet. With over 30 years of expertise in satellite communication, Honeywell aims to help Sino Jet achieve a safe, efficient, and smart fleet operation, providing passengers with a seamless connected service experience.”

This partnership underscores Sino Jet’s ongoing commitment to embracing technological innovation and meeting customer needs, while also reflecting the shared goal of both companies to advance the intelligent development of the aviation industry. Looking to the future, Sino Jet will continue to collaborate closely with top enterprises like Honeywell to explore new and innovative solutions, thereby contributing to the robust growth of the business aviation industry.

The MoU marks not only a significant milestone in the partnership between Sino Jet and Honeywell but also a key driver for the intelligent upgrade and global expansion of the business aviation industry. Together, Sino Jet and Honeywell will forge ahead, opening a new era of intelligence in the business aviation industry.

For queries please contact:
Sino Jet Marketing Department
Telephone: (+852) 2588 7007 / (+86 10) 8416 2637
Email: marketing@sinojet.org / marketing@sinojet.org.cn
Website:  http://www.sinojet.org/

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/sino-jet-and-honeywell-expand-collaboration-to-enhance-business-aviation-intelligence-302330965.html

SOURCE Sino Jet

Continue Reading

Technology

Mission GraHAQ 3.0: Amazon India Expands Flagship Consumer Awareness Campaign with Aim to Reach 50 million Customers Across India

Published

on

By

Mission GraHAQ 3.0 scales up ongoing consumer awareness efforts to pan-India levelAims to reach 50 million (5 crore) consumers across India Campaign will run from November 2024 through February 2025

NEW DELHI, Dec. 13, 2024 /PRNewswire/ — Reinforcing its commitment to consumer awareness and safety, Amazon India launched the third phase of Mission GraHAQ, its flagship consumer awareness initiative, at SMBhav Summit 2024, Amazon’s annual SMB Summit. This campaign aims to reach over 50 million customers, with a focus on Tier II and III cities, over the three-month period from December 2024 to February 2025. This phase of Mission GraHAQ introduces the GraHAQ Chakra, a series of murals across 30 cities on chai stalls, auto-rickshaws, and public walls, bringing consumer education directly into communities. Additionally, Amazon will leverage social media to amplify key messages across semi-urban and rural regions in multiple regional languages

Through this effort, Amazon seeks to engage directly with consumers at the grassroots level, reinforcing trust and choice in India’s rapidly expanding e-commerce sector. Mission GraHAQ builds on the Department of Consumer Affairs’ Jago Grahak Jago initiative, supporting the government’s efforts to empower Indian citizens as informed online shoppers. The campaign will cover topics such as grievance redressal, duties of online shoppers, safe payment methods, and the importance of product information.

This year, the campaign has partnered with organizations such as Internet and Mobile Association of India, Indian Institute of Public Administration, Consumer Voice, India SME Forum, Consumer Education and Research Centre, CyberPeace Foundation and the Bengal Chamber of Commerce and Industry to expand the reach and impact of the campaign.

Unveiling the first ever Mission GraHAQ logo, Hon’ble Union Minister Shri Pralhad Joshi, Ministry of Consumer Affairs, Food and Public Distribution and Ministry of New and Renewable Energy congratulated Amazon India and campaign partners on the launch of the third edition of the campaign.

He said, “Ecommerce is no longer limited to metros; it has expanded beyond these hubs, reaching Tier 2 and Tier 3 cities and even penetrating rural regions. Under the visionary leadership of Prime Minister Shri Narendra Modi ji, the government has undertaken several initiatives to foster a trusted and secure e-commerce environment. The Consumer Protection Act of 2019 has been enacted to address unfair contracts, enforce stricter regulations, and enhance consumer protection in e-commerce. I am happy to share that National Consumer Helpline serve as an integrated grievances rehearsal mechanism, bringing all the stakeholders together on a single platform. We have three tiers to address the consumer complaints at the district, state and national level.”

“Amazon is also working with the Department of the Consumer Affairs to further strengthen the grievance and redressal mechanism. Additionally, Jago Grahak Jago campaign led by the Department of Consumer Affairs, educates the consumers about the fraud and the common issues, while the Jagriti Mascot empowers the citizen with the knowledge about their rights,” Hon’ble Minister added.

With a pan-India approach, Mission GraHAQ will emphasize outreach in Tier II and III cities, including semi-urban and rural areas, with multilingual content to ensure broad accessibility.

Chetan Krishnaswamy, Vice President of Public Policy at Amazon India, said, “At Amazon, we believe that customer trust is the bedrock and the future of e-commerce in India. The sector’s growth will be driven by confident, empowered online shoppers, and we are honored to contribute to this national priority, which aligns closely with the government’s vision. Through Mission GraHAQ, we’re broadening our commitment across India, with a particular focus on tier 2 and tier 3 cities. Our goal is to ensure that every customer, regardless of location, is well-informed about their rights and responsibilities in the digital marketplace. This initiative reflects our dedication to fostering a safe, transparent, and trustworthy e-commerce ecosystem that benefits all of India.”

Launched in 2022, Mission GraHAQ focused on educating consumers on their rights and responsibilities through street plays across over 100 cities, engaging over 16 million people, particularly in Tier II and III areas. In 2023, the campaign expanded to India’s Northeastern states, reaching an additional 15 million people through regional radio shows in partnership with All India Radio, further extending the initiative’s reach and impact.

 

About Amazon India

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalised recommendations, Prime, Fulfilment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

Media Contact:
Bidya Sapam; bidsapam@amazon.com 

Photo – https://mma.prnewswire.com/media/2579821/Amazon_Smbhav_Summit_2024.jpg

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/mission-grahaq-3-0-amazon-india-expands-flagship-consumer-awareness-campaign-with-aim-to-reach-50-million-customers-across-india-302330971.html

Continue Reading

Technology

ProLogium Sets Record-Breaking Standards in Battery Safety and Energy Density Ahead of Schedule with TÜV Rheinland Certification

Published

on

By

TAOYUAN, Dec. 13, 2024 /PRNewswire/ — ProLogium Technology, a global leader in next-generation lithium ceramic batteries, reached a significant milestone on December 6, 2024, by earning latest TÜV Rheinland certification—an internationally respected benchmark for battery safety and performance. Following its initial certification in March 2024, ProLogium has made this record-breaking breakthrough in less than a year. The TÜV Rheinland certification confirms that ProLogium’s next-generation lithium ceramic battery delivers an industry-leading energy density of 811.6 Wh/L (volumetric) and 359.2 Wh/kg (gravimetric).

This milestone not only fulfills ProLogium’s market commitment a year ahead of schedule but also stands out as a product of its gigafactory’s pilot production line. In a highly competitive industry where annual advancements are rare, ProLogium has achieved successive breakthroughs within nine months, continuously surpassing industry benchmarks. These accomplishments highlight ProLogium’s unparalleled innovation and development capabilities, paving the way for the healthy growth of the global electric vehicle (EV) industry.

A Groundbreaking Achievement: ProLogium’s Founder Reflects
ProLogium’s Founder and Chairman, Vincent Yang, emphasized the significance of this achievement:
“This milestone embodies our unwavering spirit of innovation and demonstrates our commitment to market promises. It reflects 18 years of relentless efforts in addressing key battery challenges and optimizing manufacturing processes. From redefining safety standards with our globally leading separator-free ceramic layer technology to enhancing performance with the first 100% composite silicon anode, and securing hundreds of interfacial resistance patents, ProLogium has consistently turned technical challenges into driving forces for innovation. These achievements lay a solid foundation for accelerating technological advancements.”
Yang also announced plans to unveil further groundbreaking innovations at CES 2025, reaffirming ProLogium’s position as a technology leader.

Steady Technological Progress
In March 2024, ProLogium achieved TÜV Rheinland certification for its battery’s energy density at 749 Wh/L (volumetric) and 321 Wh/kg (gravimetric). By December, ProLogium has raised the bar to 811.6 Wh/L and 359.2 Wh/kg, exceeding its October forecast. These results represent a remarkable 8.36% and 11.90% improvement, respectively, showcasing its profound technical expertise.

ProLogium’s batteries outperform mainstream alternatives, offering up to 79.6% higher energy density than LFP (below 200 Wh/kg) and NMC batteries (200–300 Wh/kg). This translates to smaller, lighter battery packs with longer range and improved energy efficiency. Additionally, ProLogium’s 5-minute charging technology—enabling a 300 km drive—redefines the industry’s fast-charging standards, significantly reducing charging time by 83.3% compared to the conventional 30 minutes, offering a refueling experience comparable to gasoline vehicles.

Full report is available at Prologium’s website : https://prologium.com/prologium-sn09-tuv-pressrelease/

A Safer, More Efficient Future
As the EV industry embraces a new era of safety and performance, ProLogium remains committed to advancing cutting-edge technologies and leveraging its manufacturing excellence to deliver safer, higher-performing driving experiences. Harnessing its robust innovation capabilities, ProLogium is nurturing a thriving ecosystem for the EV industry by providing scalable, high-performance battery solutions and advancing global efforts toward a net-zero and sustainable future.

About ProLogium
Founded in 2006, ProLogium Technology is an energy innovation company specializing in the development and manufacturing of next-generation lithium ceramic batteries. ProLogium provides advanced lithium ceramic battery solutions for electric vehicles, consumer markets, and industrial applications. Its proprietary technologies are protected by over 900 global patents (granted and pending). The company has delivered more than 12,000 lithium ceramic battery samples to global automakers for testing and module development.
ProLogium’s first gigawatt-hour-scale giga-factory production demonstration line, located in Taoyuan, Taiwan, commenced production in 2024 to serve the global market.
In May 2024, ProLogium announced its first overseas R&D center in Paris-Saclay, dedicated to tailoring solutions for the European market. Meanwhile, ProLogium’s first overseas giga-factory project in Dunkirk, France, has completed the first and second phases of public hearings and is currently in the environmental assessment and construction permit evaluation stages. The project is expected to receive its building permit by late 2024, begin construction in early 2025, and start mass production by 2027.

View original content:https://www.prnewswire.co.uk/news-releases/prologium-sets-record-breaking-standards-in-battery-safety-and-energy-density-ahead-of-schedule-with-tuv-rheinland-certification-302330973.html

Continue Reading

Trending