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Loop Energy Announces Completion of Sale to Teralta

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VANCOUVER, BC, Nov. 5, 2024 /CNW/ – Loop Energy Inc. (“Loop”) today announces that, in connection with its notice of intention to make a proposal proceeding pursuant to the Bankruptcy and Insolvency Act (Canada) (the “BIA”), and following the sale and investment solicitation process approved by the Supreme Court of British Columbia (the “Court”), it has completed the transaction (the “Transaction”) contemplated by the subscription agreement entered into on October 28, 2024, between Loop, as vendor, and Teralta Hydrogen Solutions Inc. (“Teralta”), as purchaser (such subscription agreement, the “Subscription Agreement”). The Transaction was completed in accordance with the terms of the Subscription Agreement and the provisions of a reverse vesting order granted by the Court on October 28, 2024 (the “RVO”).

As part of the Transaction: (a) a new entity, 16483640 Canada Ltd., was incorporated and vested with certain of Loop’s excluded assets, contracts and liabilities; (b) all shares, interests, participation or other equivalents of capital stock or share capital or related rights or interests, among other things, issued by or existing in Loop prior to the closing of the Transaction were cancelled and terminated without consideration; and (c) Loop issued, and Teralta subscribed for and purchased, 1,000,000 new common shares in the capital of Loop. Teralta is now the sole holder of Loop’s share capital. 16483640 Canada Ltd. is expected to be assigned into bankruptcy pursuant to the BIA.

Loop was delisted from the Toronto Stock Exchange effective close of market on September 3, 2024. Loop expects to make an application to cease to be a reporting issuer.

Further information regarding the notice of intention to make a proposal proceeding pursuant to the BIA and documents related thereto, including a copy of the RVO, can be accessed through the website hosted by Crowe MacKay & Company Ltd. in its capacity as proposal trustee of Loop: https://crowemackayco.ca/project/loop-energy-inc/

About Loop Energy Inc.
Loop is a designer and manufacturer of hydrogen fuel stacks targeted for the electrification of commercial vehicles such as buses and trucks, as well as stationary power applications. Loop filed a notice of intention to make a proposal under section 50.4 (1) of the BIA on July 17, 2024.

About Teralta Hydrogen Solutions Inc.
Teralta is an innovator in clean hydrogen and e-natural gas production, including the technology and the infrastructure to store and distribute it. Founded in 2021, Teralta’s exclusive access to clean hydrogen and its unique end-to-end business model distinguishes it from any competitor, delivering safe, secure, and profitable clean hydrogen initiatives.

Advisors
Pelorus Law Corporation and Stikeman Elliott LLP acted as counsel to Teralta. Owen Bird Law Corporation and McCarthy Tétrault LLP acted as counsel to Loop. Crowe MacKay & Company Ltd. was Loop’s proposal trustee.

Forward-Looking Information
This press release contains forward-looking statements, including, but not limited to, those relating to Loop ceasing to be a reporting issuer and expectations with respect to the assignment in bankruptcy of 16483640 Canada Ltd.

These statements are based on current expectations as of the date of this press release. These expectations involve several risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to, risks with respect to: receipt of all required regulatory approvals; the anticipated benefits of the Transaction; the outcome of proceeding under the BIA; general economic, business and market conditions; the ability of management to execute its business plan; and actions taken by governmental authorities.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Loop as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.

Loop cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time-to-time. Loop disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Further information regarding Loop is available in the SEDAR+ database (www.sedarplus.ca).

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For More Information:
Simon Pickup, Teralta CEO
PR@teralta.com 
www.teralta.com

Crowe MacKay & Company Ltd., in its capacity as proposal trustee of Loop
1100 – 1177 West Hastings Street
Vancouver, British Columbia V6E 4T5
+1 (604) 689-3928
https://crowemackayco.ca/project/loop-energy-inc/

SOURCE Loop Energy Inc.

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Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

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November 23, 2024

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SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/specified-technologies-inc-unveils-firestop-clash-management-and-locator-updates-302314629.html

SOURCE Specified Technologies, Inc.

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ZICC: Internet Experts Pay Attention to the Development of Artificial Intelligence

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November 23, 2024

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BEIJING, Nov. 23, 2024 /CNW/ — During the Wuzhen Summit of the World Internet Conference, ZICC interviewed Internet experts from all over the world.

Lampros Sterg, UNESCO Chair in AI & Data Science, said that AI can accelerate social progress, but it needs to be used properly to avoid its negative effects in order to benefit citizens and society. Latif Ladid, the president of the IPv6 Forum, called for the establishment of a global governance system to allow artificial intelligence technology to serve humanity for good. South Korean computer scientist Kilnam Chon shared insights on AI’s positive role in healthcare. He urged global efforts to ensure AI safety and prevent its misuse in weapons. Indian entrepreneur Bibin Babu said he believes that AI will not replace humans, but will create more new jobs.

View original content to download multimedia:https://www.prnewswire.com/news-releases/zicc-internet-experts-pay-attention-to-the-development-of-artificial-intelligence-302314745.html

SOURCE ZICC

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Hankyung.com introduces: MecKare, Leading the AI-powered Innovation in Health Monitoring Solution

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1 hour ago

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November 23, 2024

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– Leading efficient care management for the elderly with unimpeded smartcare

https://img.hankyung.com/pdsdata/pr.hankyung.com/uploads/2024/11/image01-1.png

SEOUL, South Korea, Nov. 23, 2024 /PRNewswire/ — JCF Technology is a startup that independently developed ‘MecKare’, a radar sensor that measures biological signals in a non-contact manner, and provides a platform service that automatically connects users and guardians in two-way emergency situations through an artificial intelligence analysis system. Since its establishment in 2016, it has developed a highly accurate non-contact multi-biological radar sensor through many years of technology accumulation, and succeeded in commercializing the product for the first time in 2021.

MecKare uses microwave radar and micro-Doppler signal processing technology to measure the user’s heart rate, respiratory rate, and skin temperature within 16.4 ft in real time. The sensor can measure human body movement patterns using precise and highly responsive thermal infrared rays and can detect falls through pattern analysis based on changes in human movement. In particular, the movement and change of thermal infrared rays within the measurement range are detected in real time, and the trend of biomarkers that appear as advance signs before a person falls can be checked through differential motion detection that measures the user’s movement pattern. It provides an alarm in advance by predicting before a person falls, enabling accuracy and quick response to accidents. As a result, it is possible to prevent safety accidents in the elderly by detecting emergency situations such as lonely death, cardiac arrest, breathing difficulties, and falls. Additionally, unlike other existing wearable devices such as smart watches or bands, MecKare does not need to be worn or attached to the body, so it can be used remotely via Wi-Fi without causing stress to the user.

https://img.hankyung.com/pdsdata/pr.hankyung.com/uploads/2024/11/image02.png

MecKare can be installed in the bedroom, bathroom, living room, or entrance of a home or facilities(Assisted Living, Nursing Home, etc) to provide 24-hour monitoring without a camera and detect abnormal signs in advance using a biometric information analysis algorithm and deliver them to the guardian.

MecKare’s radar biometric sensor is recognized in the global market for its technology as a device that obtains precisely customized biometric information while overcoming spatial constraints and without risk of privacy infringement. MecKare is being supplied to senior care facilities in Australia, Germany, Poland, Saudi Arabia, and China. In 2025, MecKare plans to conduct verification of vital signs such as attendance, fall prevention, and asthma of elderly people living in hospitals or assisted living in conjunction with local PPOs/HMOs in the United States.

In summary, MecKare is a system that reduces user inconvenience and enables management of multiple patients. By being able to provide personalized health data analysis results, it will serve as an opportunity to change the market paradigm towards preventive smart care. We expect MecKare’s A.I to play a role as an innovator that complements, rather than replaces, humans in care settings.

View original content:https://www.prnewswire.com/news-releases/hankyungcom-introduces-meckare-leading-the-ai-powered-innovation-in-health-monitoring-solution-302310743.html

SOURCE Hankyung.com

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