Technology

Students to Develop Urban Mobility Solutions Using AI

Published

2 weeks ago

November 13, 2024

In Otis’ Made to Move Communities™ global competition, students will apply Artificial Intelligence to enable more inclusive and sustainable mobility solutions.A student team from the Hong Kong Baptist University Affiliated School Wong Kam Fai Secondary and Primary School is representing Hong Kong in this competition

HONG KONG, Nov. 13, 2024 /PRNewswire/ — Artificial Intelligence is revolutionizing the speed, accuracy and scale at which complex challenges are addressed. Over the next several months, more than 250 students from dozens of schools representing more than 15 countries and territories around the world will participate in the Made to Move Communities challenge to propose innovative ways AI can improve urban mobility. They’ll be guided by volunteer mentors from Otis (NYSE: OTIS), the world’s leading elevator and escalator manufacturing, installation and service company.

“We believe that the next generation of innovation will use AI to make moving in and around cities easier and more efficient for all,” said Randi Tanguay, Otis Senior Vice President & Chief Communications Officer. “Today’s students are growing up as AI technology matures. They are actively engaged and quickly developing the skills to effectively use and apply it. With their innate curiosity and imagination, combined with the guidance of expert Otis volunteer mentors, I can’t wait to see the solutions these students come up with.”

Why AI

According to the World Bank, more than 56% of the world population currently lives in cities, and that number is expected to grow to nearly 70% by 2050. The current pace of rapid urbanization and global population growth has the potential to strain urban infrastructure, resulting in increased congestion, pollution, and inadequate public transit. These challenges can be even more acute in underserved neighborhoods and for people with special needs.

“AI is already reshaping transportation. It’s enabling self-driving cars, optimizing traffic flows, and even helping drones deliver packages and medicines to those in need,” said Ezhil Nanjappan, Otis Senior Vice President and Chief Technology Officer. “As we stand on the brink of the AI revolution, I’m excited to bring this transformational technology to the Made to Move Communities program – to brainstorm solutions to the mobility issues of today and tomorrow, while inspiring young minds and helping to close the STEM skills gap.”

For the first time – a global winner

Since 2020, Otis’ annual Made to Move Communities global student competition has engaged over 750 students and hundreds of Otis colleagues with the goal of addressing urban mobility challenges while sparking a lifelong interest in STEM. Participating schools have received nearly $1 million (USD) in grants from Otis to further STEM learning and programs in their schools.

Until now, students used to compete regionally, with a winning team selected in each of the four Otis regions. This year, for the first time, the four regional winning teams will compete in a final round to determine a global team champion. Student teams will need to share how their solutions to local challenges can be scaled globally, and the global team champion will receive an additional grant for their school.

Seven students from the Hong Kong Baptist University Affiliated School Wong Kam Fai Secondary and Primary School will take part. This is the second time the school will represent Hong Kong. “We are pleased to once again have the opportunity to represent Hong Kong in the competition. This platform allows our students to harness the power of Artificial Intelligence to tackle real-world urban mobility challenges. We are eager to see how their innovative ideas will transform into practical solutions and showcase their talents on a global stage.” Said by Ms. Jacqui KOO, Acting Deputy Principal cum Director of International Division, Hong Kong Baptist University Affiliated School Wong Kam Fai Secondary and Primary School.

Watch this video to learn more about Made to Move Communities and this year’s challenge: https://youtu.be/c1FwYeGhLp4

Visit otis.com/mtmc to learn more and follow Otis for updates from participating student teams.

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide – the industry’s largest Service portfolio. You’ll find us in the world’s most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.

Media Enquiries:

Michelle Mak
michelle.mak@otis.com
852-9865 5331

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SOURCE Otis Elevator Company (H.K.) Limited

Technology

Canaan Inc. Closes Series A-1 Preferred Shares Financing

Published

6 minutes ago

November 26, 2024

SINGAPORE, Nov. 26, 2024 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced that it has closed the previously announced Series A-1 preferred shares financing (the “Preferred Shares Financing”), raising total gross proceeds of US$30 million.

On November 19, 2024, the Company entered into a securities purchase agreement (“Securities Purchase Agreement”) with an institutional investor (the “Buyer”), pursuant to which the Company agreed to issue and sell to the Buyer 30,000 Series A-1 Convertible Preferred Shares (the “Preferred Shares”) at the price of US$1,000.00 for each Preferred Share.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Company’s current report on Form 6-K dated November 20, 2024 announcing the execution of the Securities Purchase Agreement.

This press release is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities, which is made only by means of a prospectus supplement and related prospectus. There will be no sale of these securities in any jurisdiction in which such an offer, solicitation of an offer to buy or sale would be unlawful.

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 press release 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, Canaan Inc.’s anticipated financing plans and its intended use of proceeds 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 Contact

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

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

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SOURCE Canaan Inc.

Technology

Hisense Launches End-of-Year Sale Across the GCC Featuring Exclusive Surprises

Published

6 minutes ago

November 26, 2024

DUBAI, UAE, Nov. 26, 2024 /PRNewswire/ — Hisense, a global leader in consumer electronics and home appliances, is excited to announce its “Unlocked for Exclusive Surprises” End-of-Year Sale across the GCC region. Running until December 5, 2024, this highly anticipated campaign provides consumers with the opportunity to elevate their homes with cutting-edge technology and stylish appliances.

The campaign showcases Hisense’s wide range of premium products, designed to enhance entertainment and home living. From advanced TVs and projectors to innovative appliances, the sale promises incredible value and unmatched quality for GCC shoppers.

Entertainment reaches new heights with the C1 Mini Projector, a compact yet powerful companion that delivers stunning visuals and sharp detail. Its sleek design combines immersive entertainment and portability, making it ideal for any space.

The ULED MiniLED U7 sets a new standard for home entertainment, offering vibrant colors, precise contrast, and AI Sports Mode for seamless motion handling. This TV is perfect for gaming, sports, and streaming enthusiasts, with IMAX Enhanced certification and Multi-Channel Surround Sound delivering a cinematic experience at home.

Cinema magic comes to life with the 100L9H Laser TV, featuring a 100-inch TriChroma™ display with Dolby Vision and ultra-bright 4K resolution. Every scene bursts to life with vivid detail and clarity, making it an exceptional choice for movie nights and sports events.

Advanced cooling technology is at the heart of the Super Cooling Series Refrigerator, ensuring groceries remain fresh longer. With energy-efficient features and precise temperature control, this appliance combines functionality with modern convenience.

The RQ759 Smart PureFlat Refrigerator blends style and innovation, featuring spacious interiors, a sleek flat-door design, and smart cooling systems that elevate both aesthetics and practicality in contemporary kitchens.

Laundry becomes smarter and more efficient with the 7S Smart Series Washing Machine, offering intuitive controls and eco-friendly features for faster, seamless cleaning cycles.

Even the toughest cleaning challenges are met with the Smart Dishwasher HS673C90BME, a high-performance appliance featuring advanced washing cycles, energy-efficient operation, and a sleek design that complements modern kitchens.

Available Across the GCC

The “Unlocked for Exclusive Surprises” End-of-Year Sale is available across the GCC region, providing consumers with access to Hisense’s premium products. These cutting-edge offerings are available at leading retailers such as Carrefour, Sharaf DG, and Lulu, as well as online platforms like Amazon.ae and Noon.com.

About Hisense

Hisense, established in 1969, is a global leader in home appliances and consumer electronics operating in over 160 countries. Specialising in multimedia, home appliances, and IT solutions, Hisense prioritises integrity, innovation, and sustainability.

With over 50 years of expertise, Hisense offers top-quality products, exceptional after-sales services, and extensive warranties. The company pioneers cutting-edge technologies such as the Laser TV, ULED Local Dimming Backlight Control and chip technology, developing 8K ultra high-definition display chips, TV SoC chips, and AI chips. Beyond consumer electronics, Hisense excels in B2B industries such as intelligent transportation, medical technology, and optical modules.

Hisense proudly owns and has acquired renowned brands, including Toshiba TV, gorenje, Kelon, Ronshen, and ASKO, solidifying its position in the market. As a sponsor of major sporting events, Hisense has been associated with events such as FIFA World Cup Qatar 2022™, UEFA EURO 2020™ and UEFA EURO 2024™, and clubs such as Paris Saint-Germain. In 2024, Hisense further strengthened its sports partnerships by forming a strategic alliance with Real Madrid focused on the MEA region, highlighting its commitment to excellence and innovation.

With 34 industrial parks, 26 R&D centres and 66 overseas companies, Hisense continues to lead the industry with a diverse range of products. With regional headquarters in Dubai, UAE, and 5 offices across the MENA region, Hisense ensures efficient manufacturing, innovation, and distribution, to meet the evolving needs of consumers in the market. Stay updated with all the latest developments on the website: https://hisenseme.com/

Photo: https://mma.prnewswire.com/media/2567582/Hisense_Middle_East.jpg

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Technology

Locus Robotics Promotes Denis Niezgoda to Chief Commercial Officer of International

Published

6 minutes ago

November 26, 2024

Strategic appointment to accelerate international growth, enhance customer engagement, and drive market expansion across EMEA and APAC regions

WILMINGTON, Mass. and AMSTERDAM, Nov. 26, 2024 /PRNewswire/ — Locus Robotics, a global leader in warehouse automation for supply chain and fulfillment warehouse automation, is pleased to announce the promotion of Denis Niezgoda to Chief Commercial Officer (CCO) of International. Locus Robotics is poised for the next phase of growth, driven by the increasing demand for versatile, scalable automation solutions in the global supply chain. Niezgoda’s promotion underscores the company’s focus on delivering advanced, end-to-end warehouse automation solutions through the LocusOne platform, enabling businesses to meet complex operational challenges and achieve sustainable growth.

“Denis’s promotion marks an exciting step forward for Locus Robotics as we continue to expand our presence in international markets,” said Rick Faulk, CEO of Locus Robotics. “His leadership and vision have been instrumental in driving success across EMEA and APAC. As we look to the future, Denis’s strategic insight and proven ability to align commercial efforts will help us deliver even greater value to our customers and partners worldwide.

In his expanded role, Niezgoda will lead initiatives to capture untapped opportunities, strengthen partnerships, and ensure seamless alignment across all commercial functions. He will focus on reinforcing Locus’s position as the go-to provider of adaptable warehouse automation, highlighting the unmatched versatility, scalability, and flexibility of its solutions.

“I’m thrilled to step into this new role during such an exciting time for Locus Robotics,” said Denis Niezgoda, Chief Commercial Officer, International. “Our ability to empower businesses with innovative, scalable solutions has set us apart in the industry. I look forward to building on our momentum, driving market expansion, and supporting our customers and partners in navigating the future of warehouse automation.”

Locus Robotics has achieved significant milestones in its global growth strategy, including deploying over 15,000 robots across 350+ sites in 20+ countries, enabling businesses to enhance productivity and adapt to evolving market demands. With Niezgoda’s leadership, the company is positioned to further extend its reach, innovate with customer-centric solutions, and redefine automation in the supply chain and fulfillment sectors.

For more information about Locus Robotics and its solutions for warehouse automation, please visit www.locusrobotics.com.

About Locus Robotics
Locus Robotics is the global leader in adaptable, scalable AI-powered warehouse automation solutions, transforming fulfillment operations for top brands worldwide. With over 15,000 robots deployed across 350+ sites in 20+ countries, Locus delivers unmatched flexibility and productivity. The LocusOne platform integrates seamlessly with existing systems, offering dynamic scalability through a Robots-as-a-Service (RaaS) model. Committed to innovation, compliance, and sustainability, Locus’s multi-award winning solution empowers businesses to meet today’s supply chain challenges while preparing for the future.

Contact: Kary Zate, kzate@locusrobotics.com

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SOURCE Locus Robotics