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SINGAPORE and GEORGETOWN, Cayman Islands, June 12, 2023 /PRNewswire/ -- LexasureFinancial Group Limited ("Lexasure" or the "Company"), providing reinsurance, insurance, and insurtech solutions in South and Southeast Asia, and Qornerstone Inc. ("Qornerstone"), a leading proptech company that is revolutionizing the property management industry through its innovative software solutions, today announced a memorandum of understanding for a proposed strategic partnership to collaborate in the creation and provision of new and existing insurance and risk mitigation products for the real estate, property, and facilities management sector in Singapore and Malaysia. Under the terms of the agreement, Qornerstone, in conjunction with Lexasure and other designated parties, will analyze its customer ecosystem's potential, including enterprise, commercial, and residential clients, and allocate technical resources that enable insurance and financial products to be embedded within its solutions. Ernest Ong, Chief Executive Officer of Qornerstone, said, "The collaboration with Lexasure is a unique opportunity to innovate and drive the digital transformation of the proptech and insurtech sectors forward. The result of our combined competencies will aim to enhance the experience of 100,000 platform users comprised of condominium owners, tenants, property managers, technicians, service providers, etc. to advance the way insurance is bought and sold through digital channels." Under the proposed strategic partnership, Lexasure will help to identify commercial areas of focus and provide capacity and/or underwrite new products and services arising from the partnership. For residents, examples of insurance products include home contents, home helper, security deposit & tenant insurance, and automotive. For managers or owners of real estate properties, examples include indemnification for management council members, errors & omission, and public liability insurance. "Our partnership with Qornerstone intends to create new digital channels that drive integrated solutions for the urban and property sector. By embedding insurance and risk management into the platform used for leasing, property management, and maintenance, we will be able to offer products that protect tangible real estate and reward sustainability," said Ian Lim, Chief Executive Officer of Lexasure. "In doing so, our firms are well poised to ride the growth opportunities arising from the rapid urbanization of Asia." The creation of the proposed strategic partnership is subject to the negotiation of definitive agreements with customary closing conditions, including regulatory approval. About Lexasure Financial Group Lexasure Financial Group is a leading Southeast and South Asia group providing reinsurance and digital insurance solutions, including Reinsurance-as-a-Service (RaaS), that enable our clients to manage risk, accelerate growth, and effectively compete. We are driving the digital transformation of the insurance and reinsurance industry with scalable and innovative products that meet the local needs of companies and people in fast-growing Asian markets. Our management team has deep expertise in the industries of reinsurance, insurance, and insurance tech. Our values are based on a belief that our products enable customers to live and grow boldly while enhancing resilience. We serve over 60 primary insurers across 22 countries in Asia and North America. For more information, go to lexasure.com. About Qornerstone Founded in 1999, Qornerstone is a leading proptech company that is revolutionizing the property management industry. With our innovative software solutions, we have become a technology leader in the property and asset management industry, successfully transforming and digitizing operations for over 2,000 properties in Singapore. Our dedicated team is constantly working on cutting-edge solutions to help our clients optimize their operations and achieve their business goals here and abroad. For more information visit www.qornerstone.com. Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's plans to develop and commercialize its new products and services; the Company's expectations regarding the impact of the ongoing COVID-19 pandemic on its business, the Company's industry and the economy; the Company's estimates regarding expenses, future revenue, capital requirements and needs for additional financing; the Company's ability to establish and maintain collaborations and/or obtain additional funding and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Investor Contact Crocker Coulson, CEO, AUM Media+1 (646) 652-7185crocker.coulson@aummedia.org
NEW YORK, June 12, 2023 /PRNewswire/ -- Fresh2 Group Ltd., formerly AnPac Bio-Medical Science Co., Ltd. (NASDAQ: FRES), a company with operations in the United States and China focused on early cancer screening and detection and plans to enter into the operation of a business-to-business e-commerce food platform focused on the sale of Asian sourced food products, today announced that The Nasdaq Stock Market LLC ('Nasdaq") notified the Company on June 9, 2023 that Nasdaq has determined the Company has regained compliance with the requirements to remain listed on The Nasdaq Capital Market, as required by the Hearing Panel's ("Panel") decision dated March 22, 2023. Pursuant to Listing Rule 5815(d)(4)(B), the Company will be subject to a Mandatory Panel Monitor for a period of one year from June 9, 2023. If, within that one-year monitoring period, Listing Qualifications staff ("Staff") finds the Company again out of compliance with the requirement that was the subject of the exception, notwithstanding Rule 5810(c)(2), the Company will not be permitted to provide the Staff with a plan of compliance with respect to that deficiency and Staff will not be permitted to grant additional time for the Company to regain compliance with respect to that deficiency, nor will the company be afforded an applicable cure or compliance period pursuant to Rule 5810(c)(3). Instead, Staff will issue a Delist Determination Letter and the Company will have an opportunity to request a new hearing with the initial Panel or a newly convened Hearings Panel if the initial Hearings Panel is unavailable. The Company will have the opportunity to respond/present to the Panel as provided by Listing Rule 5815(d)(4)(C). The Company's securities may be at that time delisted from Nasdaq. About Fresh2 Group Limited Fresh2 Group Limited is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of March 31, 2023. With two certified clinical laboratories in China and one CLIA and CAP accredited clinical laboratory in the United States, Fresh2 performs a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), bio-chemical, immunological, and genomics tests. The Company is entering the business-to-business e-commerce food business with the formation of its wholly-owned subsidiary Fresh2 Technology Inc and the acquisition of Fresh2 Ecommerce Inc. For more information, please visit: https://fresh2.co/investors. For investor and media inquiries, please contact: Ascent Investor Relations LLCTina XiaoPhone: +1-917-609-0333 (U.S.)Email: tina.xiao@ascent-ir.com Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company's future financial and operating performance. The Company has attempted to identify forward-looking statements by terminologies including "believes," "estimates," "anticipates," "expects," "plans," "projects," "intends," "potential," "target," "aim," "predict," "outlook," "seek," "goal" "objective," "assume," "contemplate," "continue," "positioned," "forecast," "likely," "may," "could," "might," "will," "should," "approximately" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from those expressed or implied by any forward-looking statement. Known and unknown risks, uncertainties and other factors include, but are not limited to, our ability to comply with Nasdaq Listing Rules including maintaining our listing on the Nasdaq Capital Market, the implementation of our business model and growth strategies; trends and competition in the cancer screening and detection market; our expectations regarding demand for and market acceptance of our cancer screening and detection tests and our ability to expand our customer base; our ability to obtain and maintain intellectual property protections for our CDA technology and our continued research and development to keep pace with technology developments; our ability to obtain and maintain regulatory approvals from the NMPA, the FDA and the relevant U.S. states and have our laboratories certified or accredited by authorities including the CLIA; our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; general economic and business conditions in China and elsewhere; our ability to hire and maintain key personnel; our relationship with our major business partners and customers; and the duration of the coronavirus outbreaks and their potential adverse impact on the economic conditions and financial markets and our business and financial performance, such as resulting from reduced commercial activities due to quarantines and travel restrictions instituted by China, the U.S. and many other countries around the world to contain the spread of the virus. A number of these risks along with additional discussion of forward-looking statements, are set forth in the Company's Annual Report on Form 20-F and other reports filed with the Securities and Exchange Commission. In addition, there is uncertainty about the spread of the COVID19 virus and the impact it will have on the Company's operations, global supply chains and economic activity in general. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
HANGZHOU, China, June 12, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a well-known online music platform featuring a vibrant content community, today announced that the latest mini-album from South Korean girl group (G)I-DLE has once again captivated K-Pop fans across China with digital sales exceeding 300,000 copies on NetEase Cloud Music, topping the platform's 2023 charts in terms of gross sales as of June 12. Following the debut of the 6-song mini-album, titled "I FEEL," on NetEase Cloud Music on May 15, 2023, the album quickly amassed more than 20 million streams after its release. Meanwhile, NetEase Cloud Music has offered virtual customized features specific to the album on its platform, such as profile photo decoration, a pink theme, and exclusive images and videos, as well as digital LED billboards in central commercial districts across five cities globally, in order to deepen user engagement and establish closer connections between musicians and their fans. Empowered by NetEase Cloud Music's distinctive music-inspired ecosystem, fans have lauded the K-Pop powerhouse since their highly successful debut full album "I NEVER DIE" and exciting follow-on 5th mini album "I LOVE". In total, digital sales from the three (G)I-DLE albums have sold over 1.5 million copies and surpassed RMB31 million on NetEase Cloud Music, collectively accumulating over 264 million streams from avid fans to date. NetEase Cloud Music's prevalence as a go-to music platform in China brings exposure to aspiring artists to its sizeable and growing community of music lovers, including K-Pop and J-Pop fans, backed by its abundant resources that support artists and groups like (G)I-DLE with significant promotion and marketing opportunities. In addition, the platform has extensive music copyright collaborations with a number of top Asian record labels, including SM Entertainment, YG Entertainment, Avex, KAO!INC, and Pony Canyon. About Cloud Music Inc. Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), Cloud Music Inc. (HKEX: 9899) is a well-known online music platform featuring a vibrant content community. Dedicated to providing an elevated user experience, Cloud Music Inc. provides precise, personalised recommendations, promotes user interaction and creates a strong social community. Its focus on discovering and promoting emerging musicians has made Cloud Music Inc. a destination of choice for exploring new and independent music among music enthusiasts in China. The platform has been recognised as the most popular entertainment app among China's vibrant Generation Z community. Please see http://ir.music.163.com/ for more information. Forward Looking Statements This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. Investor Enquiries: Angela XuCloud Music Inc.music.ir@service.netease.com Media Enquiries: Zhang MengqiNetEase, Inc.globalpr@service.netease.com
FUZHOU, China, June 12, 2023 /PRNewswire/ -- Shengfeng Development Limited (the "Company" or "Shengfeng"), a contract logistics company in China providing customers with integrated logistics solution services, today announced it has purchased 16 electric heavy-duty trucks with an aggregate value of US$1,550,000. The Company plans to have at least 10% of its future purchases of heavy-duty trucks to be electric heavy-duty trucks. In addition to the purchase of electric heavy-duty trucks, the Company will also build battery swapping stations in its regional sorting centers, cloud-based order fulfillment centers (or Cloud OFCs), and service outlets, to better serve its electric vehicles. Mr. Yongxu Liu, Chairman of the Company, commented, "Electrification has become mainstream throughout the automotive industry, and Shengfeng will follow the trend by utilizing green energy to reduce logistics costs, while also striving to make contributions to energy conservation, emissions reduction, and environmental protection." About Shengfeng Development Limited Shengfeng Development Limited is a contract logistics company in China providing customers with integrated logistics solution services. Established in 2001, the Company has developed extensive and reliable transportation networks in China, covering 341 cities across 31 provinces, as of June 30, 2022. The Company provides integrated logistics solutions comprised of B2B freight transportation services, cloud storage services, and value-added services. The Company applies well-established management systems and operating procedures to assist companies in China to increase efficiency and improve their own management systems with respect to transportation, warehousing, and time management. For more information, please visit the Company's website: http://ir.sfwl.com.cn/. Forward-Looking Statements This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission. For more information, please contact: Shengfeng Development LimitedInvestor Relations DepartmentEmail: ir@sfwl.com.cn
LONDON, June 12, 2023 /PRNewswire/ --Highlights Funds advised by Appian agree the sale of the wholly owned Atlantic Nickel and Mineração Vale Verde to ACG for US$1.0 billion, while ACG will also pay US$65 million to extinguish the gold stream over Mineração Vale Verde, all in cash Provides a compelling value proposition for ACG, which will be the only London-listed nickel sulphide producer of scale, creating a natural platform for further growth and consolidation of critical metals assets focused on leading western OEMs Transaction reflects the significant work to optimise the assets, demonstrating the strength of Appian's operating model and its ability to identify, acquire and develop mining projects Acquired Atlantic Nickel out of bankruptcy in 2018, executing a successful restart, with first quartile C1 cost performance (c. US$3.16/lb Ni for the open pit and c. US$2.02/lb Ni for the underground), defining an underground resource and extending mine life to 35 years Purchased Mineração Vale Verde in 2018, revising its DFS and completing project construction and commissioning during the COVID-19 pandemic, ahead of schedule and under budget before successfully ramping up Mines are cash-generative operations, producing nickel sulphide and copper concentrates with low carbon emissions ACG has entered into long-term investment partnerships with global commodities group Glencore, PowerCo (Volkswagen's in-house battery development subsidiary) and Stellantis (owner of Fiat and Peugeot), for offtake and funding Reflects the quality of the assets and their attractive characteristics for western automotive manufacturers at this point in the investment cycle, providing a transparent and secure supply of critical metals across the value chain Will support optimising the assets' ability to meet future demand, and help address supply-chain challenges currently arising in global commodities Appian's funds remain extremely well positioned for growth with exposure to key decarbonisation commodities balanced with precious metals investments Appian Capital Advisory LLP ("Appian" or the "Company"), the investment advisor to long-term value focused private capital funds that invest in mining and mining-related companies, announces the sale of its Brazilian battery metals-focused portfolio companies Atlantic Nickel ("Atlantic Nickel") and Mineração Vale Verde ("MVV") (together the "Assets") to ACG Acquisition Company Limited ("ACG") for a cash consideration of US$1.0 billion, along with the sale of its gold royalty on MVV to ACG for US$65 million (the "Transaction"). The Appian funds acquired Atlantic Nickel (previously Mirabela Nickel), owner of Santa Rita, one of the largest open pit nickel sulphide mines in the world, located in Bahia, Brazil ("Santa Rita") out of bankruptcy in 2018. The same year they also purchased MVV, owner of the Serrote greenfield open-pit copper-gold asset located in Alagoas, Brazil ("Serrote"). Subsequently Appian successfully restarted Atlantic Nickel and commissioned MVV. Appian undertook significant work to de-risk and improve the Assets, demonstrating the strength of the Company's model and its ability to identify, acquire and optimise mining projects using technical arbitrage to create value. Both mines are long-life, low-cost and ranked within the first decile for carbon emissions amongst all nickel and copper producers worldwide. The Transaction will provide a compelling value proposition for ACG, Appian, and their respective investors. Upon closing, ACG will be renamed ACG Electric Metals, creating the only London-listed nickel sulphide producer with pure play electric metals exposure, as a natural platform for further growth and consolidation of critical metals assets focused on deliveries to leading western OEMs. Michael W. Scherb, Founder and CEO of Appian, commented: "Appian began investing in decarbonisation commodities a decade ago, recognising that society was structurally undersupplied for the upcoming energy transition. This innovative transaction in the battery metals space will mark Appian's 10th, 11th and 12th exits, reflecting the strength of our operating model and ability to identify, acquire and optimise mining assets. Likewise, ACG is a great custodian for Atlantic Nickel and MVV, and is well placed to unlock significant further growth from these market-leading companies. The Glencore, Volkswagen and Stellantis partnerships are particularly notable, underlining the growing need for EV commodities and the demand for robust, transparent and traceable supply chains from western automotive OEMs, industry and other stakeholders." Artem Volynets, CEO of ACG, said: "We are very proud to announce this transaction in strategic partnership with Glencore, Stellantis, La Mancha, PowerCo and Royal Gold, as well as senior debt providers Citigroup, ING and Societe Generale. It will establish ACG Electric Metals as a premier supplier of critical metals into the western EV value chain, with best-in-class ESG characteristics and minimal CO2 emissions. ACG Electric Metals will be a company designed to take advantage of the opportunities presented by key global trends: the massive increase in demand for battery metals, the polarisation of supply chains, and the need to reduce the world's total carbon footprint – from the mine to the end-customer. These high-quality mines will enable ACG's mission to be the green metals supplier of choice to western EV automakers. This acquisition establishes a solid platform for further growth and long term shareholder value creation." Transaction details Under the terms of the Transaction, ACG has agreed to acquire the entirety of Atlantic Nickel and MVV for a cash consideration of US$1.0 billion, while ACG will also pay US$65 million in cash to extinguish the gold stream on MVV. The Transaction is supported by financing commitments from financial and strategic parties, including notable partnerships with leading commodity traders and automotive manufacturers to support the electric vehicle transition: Glencore will be an anchor investor, having committed US$100 million and becoming an off-taker of choice for ACG, allowing for supply of ACG's nickel sulphide concentrate to Glencore's western European and North American refineries. PowerCo, a wholly-owned subsidiary of Volkswagen, has committed to make a binding US$100 million prepayment to ACG for equivalent nickel units to the tonnage contained in a portion of the concentrates produced by the Atlantic Nickel mine at Santa Rita. Stellantis, the automotive conglomerate formed in 2021 by the merger of Fiat Chrysler and PSA Group, has committed to a US$100 million anchor equity investment in ACG. Both PowerCo and Stellantis will become long-term partners via offtake contracts for nickel refined from concentrate produced by Santa Rita. These partnerships demonstrate the quality of the Assets and their attractive characteristics for western automotive manufacturers at this point in the investment cycle, providing a transparent and secure supply of critical metals to meet future global demand. Leading mining investment fund, La Mancha Resource Capital Fund ("La Mancha"), has also made a commitment to make a US$100 million anchor equity investment in ACG. The remainder of funding for the Transaction comes from binding commitments in the form of royalty financing from Royal Gold, senior bank debt underwritten by Citigroup, ING and Societe Generale, who have also agreed to provide a revolving credit facility, and a planned equity offering by ACG of US$300 million. The equity offering provides a broader universe of institutional investors with the opportunity to participate in ACG's future value creation. The Appian funds have also offered to backstop up to US$50 million of the equity financing. The Appian funds will also retain their 2.75% Net Smelter Royalty ("NSR") on the Santa Rita mine, while a 2.5% NSR on the production at the Santa Rita mine will be granted to La Mancha. Following completion of the Transaction, the Assets' operating teams will join ACG, providing continuity to drive future success. Current managers, Paulo Castellari-Porchia and Milson Mundim, will continue to oversee Atlantic Nickel and MVV, having managed the assets for several years, achieving strong operational results, ESG performance and a leading safety record. As part of the transaction, ACG has reinforced its commitment to sustainability practices at its mining sites by agreeing to implement the IRMA Standard for Responsible Mining at Santa Rita, and to undergo an IRMA assessment in 2025 and 2030. The Transaction is expected to close in July 2023 and is subject to the customary shareholder consents and conditions precedent. Citigroup and Standard Chartered are acting as financial advisor to Appian on the Transaction, with Norton Rose Fulbright and Cescon, Barrieu, Flesch & Barreto as legal advisors. Atlantic Nickel acquisition and optimisation The Appian funds acquired Atlantic Nickel out of a complex bankruptcy process in 2018, after identifying an opportunity to implement a differential operating approach to restart the mine at a first quartile cost position and benefit from over US$1 billion of previously sunk capital. The Company subsequently carried out major work to improve Santa Rita, developing a redefined mine plan with a successful restart in January 2020. As a result, Appian de-risked the asset with an attractive average C1 cash cost in the first quartile of the global nickel cost curve (c. US$3.16/lb Ni for the open pit and c. US$2.02/lb Ni for the underground). Appian has grown the Resources at Santa Rita significantly since 2018 through systematic infill and expansion drilling of the open pit and underground Resource areas, extending the life of mine by 27 years to 35 years in total. Atlantic Nickel recently reported record operational and financial performance for 2022, producing 117kdmt of nickel concentrate (2021 107kdmt) containing 15.9kt of nickel (2021 14.5kt), 5.0kt of copper (2021 4.7kt) and 291t of cobalt (2021 266t). This resulted in US$210 million of EBITDA (2021 US$127 million) on US$406 million of revenue (2021 US$289 million). Santa Rita has an industry leading ESG and safety record with a Lost Time Injury Frequency Rate of 0.18 in 2022 (compared to 0.20 in 2021). Since restart, Appian has built out the team at Atlantic Nickel from 40 to ~3,000 employees, providing significant local employment and benefits. MVV acquisition and optimisation MVV was acquired from Aura Minerals in 2018, having identified Serrote as a rare standalone, construction-ready, copper project with meaningful precious metal by-product credits that could benefit from Appian's technical arbitrage strategy. Appian optimised Serrote's mine plan, updating the Definitive Feasibility Study and bringing the asset into production in May 2021 under budget and ahead of schedule. Appian recently announced the successful ramp-up during 2022, with full year production of 19.8kt of copper and 9-10koz of gold contained in 84.5kdmt of concentrate. This resulted in EBITDA of US$60 million on revenue of US$155 million, with average realized commodity prices of US$3.71/lb CuEq. MVV has an average C1 cash cost of US$1.37/lb Cu. MVV has a best-in-class ESG and safety record, with zero Lost Time Injuries during 2022 (during 1.9 million cumulative hours worked). Other initiatives include providing support for local schools, social projects for female entrepreneurs and environmental education. The exploration program at MVV continues to demonstrate its broader significant regional upside potential, identifying additional targets that could be brought into the Serrote mine plan over the longer-term. Outlook and strategic focus Appian will continue to enhance its unique operating model, and focus on energy transition commodities used in batteries, electric vehicles, and renewable power systems, including copper and nickel, balanced by investments in precious metals and other commodities. About Appian Capital Advisory LLP Appian Capital Advisory LLP is the investment advisor to long-term value focused private capital funds that invest solely in mining and mining related companies. Appian is a leading investment advisor in the metals and mining industry, with global experience across South America, North America, Australia and Africa and a successful track record of supporting companies to achieve their development targets, with a global operating portfolio overseeing 6,300 employees. Appian has a global team of 65 experienced professionals with offices in London, New York, Toronto, Vancouver, Lima, Belo Horizonte, Montreal, Dubai and Perth. For more information please visit www.appiancapitaladvisory.com, or find us on LinkedIn, Twitter or Instagram. About ACG ACG is a company with a vision to consolidate the critical metals industry. Through a series of roll-up acquisitions, ACG intends to become a premier supplier of critical metals to the western OEM supply chain, with best-in-class ESG and carbon footprint characteristics. On October 12, 2022, ACG successfully raised proceeds of approximately US$125 million in its initial public offering, and listed on the London Stock Exchange (symbols: ACG and ACGW). For further information please visit: www.acgcorp.co
AUBURN HILLS, Mich., June 12, 2023 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV) (SSE: ALIVsdb), the worldwide leader in automotive safety systems, today unveiled a patented revolutionary new passenger airbag module that is based on Bernoulli's Principle and can inflate larger airbags more efficiently as well as reduce development time and cost. The Bernoulli™ Airbag will be commercialized during the third quarter and on display at the Autoliv Investor Day today in Auburn Hills, Michigan, USA. The new Autoliv airbag module is based on Swiss mathematician and physicist Daniel Bernoulli's fundamental principles of fluid dynamics that explain many phenomena such as how airplanes fly. Bernoulli's principle states that an increase in the speed of a fluid occurs simultaneously with a decrease in static pressure. Using this principle, Autoliv can leverage pressure differences to add a significant contribution of surrounding air to the inflation of an airbag. "We have developed a way to inflate very large airbags, like the one's needed in newer electric vehicles with roomier cockpits and comfort seating, with a smaller single stage inflator. Additionally, the Bernoulli Airbag generates less heat, is lighter, and can reduce customer development testing in the United States by more than 30 percent. Low risk deployment requirements can be met with a single stage inflator," said Jordi Lombarte, Chief Technical Officer, Autoliv. For the Bernoulli Airbag, the inflator will receive the signal that a crash has begun, and it will propel high pressure gases at supersonic speed through multiple inlet tubes. As the gases flow through the tubes, it will suck the surrounding ambient air into the chamber with the gases, creating aspiration, and will inflate a much larger airbag with an even smaller inflator than required today. "It is undoubtedly an example of our commitment to saving lives and redefining the standards of safety so our customers can build the safest possible vehicles. By doing this, we can affect other aspects of the safety system and offer our customers options that do not exist today. The Bernoulli Airbag is a significant step forward in making vehicles safer in a more efficient and sustainable manner," concluded Jordi Lombarte. Airbags are an important safety feature in cars and can reduce the risk of death and serious injury in a crash. They work by inflating very quickly to create a cushion between the occupant and the vehicle. Airbag systems help to reduce the severity of injuries caused by impact. Autoliv is the world's largest producer of airbag systems, modules, and components. Inquiries: Media: Gabriella Ekelund, Tel +46 (70) 612 64 24Investors & Analysts: Anders Trapp, Tel +46 (0)8 587 206 71Investors & Analysts: Henrik Kaar, Tel +46 (0)8 587 206 14 The following files are available for download: https://mb.cision.com/Main/751/3784313/2119784.pdf Press release as PDF https://news.cision.com/autoliv/i/alv-bernoulli-airbag-still-4,c3188901 ALV Bernoulli Airbag Still 4 https://news.cision.com/autoliv/i/alv-bernoulli-airbag-still-1,c3188902 ALV Bernoulli Airbag Still 1
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