NANJING, China, Jan. 14, 2025 /PRNewswire/ — In November, China has successfully encircled the Taklamakan Desert, often called the “sea of death”, the country’s largest and the world’s second-largest shifting desert, with a 3,050-kilometer green belt of vegetation and sand-blocking technology powered by solar.

The 500MW Photovoltaic Sand Control Demonstration Project is located on the southern edge of the Taklamakan Desert. Through the “Photovoltaic + Agriculture” comprehensive sand control mode, it strengthens the ecological defense line. In spring, sand fixing plants such as alfalfa will be planted under this 22000-acre photovoltaic panel, forming a model of photovoltaic combined with biological sand control to enhance the effectiveness of sand prevention and control.

Grand Sunergy, as the sole solar product supplier, after fully considering the installation environment in desert areas, designed the targeted high efficiency product for this project, with excellent tear resistance, corrosion resistance, and load resistance.

In addition, Grand Sunergy actively participates in other types of “photovoltaic+” projects to unlock more photovoltaic application scenarios.

Photovoltaic + Offshore

In Laizhou Bay, China, under clear blue skies, a magnificent PV matrix mirrors the vast, rippling sea, creating a stunning, dynamic tableau.

The project with capacity of 400MW (AC Side), as China’s first large-scale pile foundation fixed deepwater offshore photovoltaic project applied Grand Sunergy’s “Seapower” Series HJT module, to address the special application environments, Grand Sunergy has enhanced its G12 high-efficiency HJT modules through the upgrades on encapsulation, glass coating, waterproofing, anti-corrosion measures, and UV resistance.

Photovoltaic + Salt Pans

At the 600 MW salt-PV hybrid base in Laizhou, Grand Sunergy’s PV arrays stand like disciplined soldiers awaiting inspection.

This project not only generates solar power but also maintains the yield and quality of salt production through surface evaporation. This synergy boosts energy output by an additional 2%-3%, achieving a harmonious balance between salt production and solar PV power generation.

Photovoltaic + Transportation

On the highways of Hebei, China, PV panels installed on slopes and loop ramps shimmer like blue waves, absorbing sunlight and injecting green energy into the highway network.

About Grand Sunergy

Grand Sunergy focuses on the R&D and manufacturing of high-efficiency HJT cells and modules. The company is actively building industry supply chain, including silicon wafers, HJT cells and modules.

Grand Sunergy web: https://en.grandsunergy.com/

Grand Sunergy Email: info@grandsunergy.com

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SOURCE Grand Sunergy

Cyngn enters the year with strong momentum, leveraging its latest financing to scale production and deployment of DriveMod Tuggers and advance commercial release of DriveMod Forklifts.

MENLO PARK, Calif., Jan. 14, 2025 /PRNewswire/ — Cyngn Inc. (Nasdaq: CYN) today announced that it has secured $33 million in funding. This funding positions the company to accelerate its growth and deliver on its mission to proliferate industrial autonomous vehicles.

“This capital infusion strengthens our ability to fund operations, drive commercialization, and continue investing in groundbreaking autonomous vehicle technologies,” said Lior Tal, Chairman and CEO of Cyngn. “With increasing demand for automation solutions, especially in the automotive, heavy machinery and logistics industries, this funding allows us to build on recent momentum, including our upcoming autonomous forklift launch and other strategic advancements.”

2024 Operational Highlights and Roadmap

Cyngn enters the year with strong momentum, leveraging its latest financing to scale production and deployment of autonomous industrial vehicles.

Key milestones include:

Advancing Autonomous Forklift Development – In October, Cyngn announced its first paid autonomous forklift deployment. The company plans to expand the availability of its Autonomous DriveMod Forklift.Expanding Customer Deployments – In recent weeks, the company announced deployments at major organizations across multiple industries, including defense and automotive manufacturing.Growing Partnerships – The company continues to strengthen collaborations with OEMs and industry leaders to drive innovation and deliver scalable automation solutions.

The Growing Autonomous Industrial Vehicle Market

Automation is transforming industrial operations, with autonomous vehicles playing a critical role in enhancing productivity and safety. According to industry estimates, the smart manufacturing market is predicted to grow from $223.6 billion to an impressive $985.5 billion by 2032, driven by increasing demand for efficiency and workforce augmentation.

Companies across logistics, warehousing, and manufacturing are accelerating automation initiatives to address labor shortages and rising operational costs. 41% of warehouse managers have reported an inability to attract and retain workers and 76% of today’s supply chain operations are being impacted by labor shortages. Cyngn’s solutions, powered by AI and advanced autonomy, provide a seamless path for businesses to integrate self-driving vehicles into their workflows and address these ongoing challenges.

Fueling the Future of Industrial Autonomy

With this funding, Cyngn remains focused on scaling its autonomous vehicle deployments, accelerating product innovation, and expanding its market reach. As the company begins accepting orders for its autonomous DriveMod Forklift, it is well-positioned to shape the future of industrial automation.

About Cyngn

Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.

Cyngn’s DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.

Cyngn’s flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling). For all terms referenced within, please refer to the Company’s annual report on Form 10-K with the SEC filed on March 7, 2024.

Where to find Cyngn:

Website: https://cyngn.comX: https://x.com/cyngnLinkedIn: https://www.linkedin.com/company/cyngnYouTube: https://www.youtube.com/@cyngnhq

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as “expects,” “anticipates,” “believes,” “will,” “will likely result,” “will continue,” “plans to,” “potential,” “promising,” and similar expressions. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company’s reports to the Securities and Exchange Commission (SEC), including, without limitation the risk factors discussed in the Company’s annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Investor Contact:
Donald Alvarez, CFO
investors@cyngn.com 

Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com 

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SOURCE Cyngn

MANCHESTER, England, Jan. 14, 2025 /PRNewswire/ — Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), recapped its key accomplishments for 2024 and set its goals 2025.

CEO Statement
Smartkem Chairman and Chief Executive Officer, Ian Jenks commented, “2024 was a pivotal year for Smartkem. In December, we raised $7.65 million and, together with our collaboration partner, were awarded a $1.1 million grant for a project to develop the world’s first rollable, transparent microLED display. We uplisted to Nasdaq, increasing trading liquidity and broadening access to investors. We made significant strides in our plans to commercialize our proprietary semiconductor materials with strategic partnerships and collaborations with industry-leaders. We believe we have strengthened our position as a key player in the market for microLED displays, as well as packaging solutions for advanced computing and AI chips and CMOS for smart sensors. Looking toward 2025, we are focused on achieving qualifications and design wins with existing and new collaborations. We believe our technology will help drive adoption of advanced display and other technologies, with the microLED industry projected to grow from $150 million in 2024 to over $4 billion by 2031.1″

Smartkem 2024 Highlights:

Entered multiple strategic partnerships and collaborations with industry-leading display manufacturers in Asia, North America, and Europe:AUO to jointly develop the world’s first advanced rollable, transparent microLED display;FlexiIC to develop low-cost, rapid turnaround custom circuits using organic transistor technology and a new generation of low-power CMOS-enabled smart sensor devices;ITRI (Industrial Technology Research Institute) to enable product prototyping on its Gen 2.5 equipment;Chip Foundation to co-develop a new generation of microLED-based backlight technology for Liquid Crystal Displays;Shanghai Tianma Microelectronics to develop OTFT-based microarray biochips to amplify and process signals generated by TFT-based sensor devices; andRiTdisplay to manufacture a new type of active-matrix OLED display.Increased IP to 138 patents and 40 codified trade secrets, strengthening Smartkem’s competitive advantage in the rapidly evolving organic materials electronics industry.Uplisted to Nasdaq.Awarded a grant in partnership with AUO from the 2024 Taiwan-UK Research & Development Collaboration.Exhibited and presented at key trade events, including Touch Taiwan 2024 and Display Week 2024 in San Jose, where CEO Ian Jenks gave the DSCC / SID Business Conference keynote speech.

2025 Goals:

Ship the first installment of Smartkem’s materials to Chip Foundation under our collaboration to develop a new generation of microLED-based backlight technology for Liquid Crystal Displays.Sign a Joint Development Agreement (JDA) for a chip-first microLED display.Complete qualification of Gen 2.5 ITRI process line.Enter into additional collaborations and/or co-development agreements that further advance our technology toward commercialization.

“We thank our stockholders for their continued support and look forward to updating you on our progress throughout the year,” concluded Jenks.

About Smartkem
Smartkem is seeking to reshape the world of electronics with its disruptive organic thin-film transistors (OTFTs) that have the potential to revolutionize the display industry.  Smartkem’s patented TRUFLEX® liquid semiconductor polymers can be used to make a new type of transistor that can be used in a number of display technologies, including next generation microLED displays. Smartkem’s organic inks enable low temperature printing processes that are compatible with existing manufacturing infrastructure to deliver low-cost displays that outperform existing technology.

Smartkem develops its materials at its research and development facility in Manchester, UK and provides prototyping services at the Centre for Process Innovation (CPI) at Sedgefield, UK. It has a field application office in Taiwan. The company has an extensive IP portfolio including 138 granted patents across 18 patent families and 40 codified trade secrets. For more information, visit our website or follow us on LinkedIn.

Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on Smartkem Inc.’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or elated expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

1 2024 Omdia Report

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SOURCE SmartKem, Inc.