SLB to Acquire Gyrodata Incorporated

 HOUSTON - Thursday, 27. October 2022 

Complementary technologies elevate drilling performance benchmarks

(BUSINESS WIRE) -- SLB (NYSE: SLB) today announced it has entered into an agreement to acquire Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. The transaction will integrate Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, bringing customers innovative drilling solutions.

This combination will improve wellbore quality and reduce drilling risk to unlock even the most remote and complex reservoirs. Integrating three-axis solid state gyro measurements with the latest SLB technological innovations will help ensure tighter trajectory control, reduce data acquisition time and improve the decision-making process—resulting in greater overall drilling efficiency.

“The integration of Gyrodata’s innovative sensors and proprietary technologies within SLB’s drilling and logging suites will result in the most accurate and highly optimized well placement services in the industry,” said Jesus Lamas, president, Well Construction, SLB. “This will transform drilling technology designs while advancing SLB’s autonomous, self-steering capabilities. I am excited about welcoming the Gyrodata team into SLB’s Well Construction division.”

“After more than 42 years as an independent company, we are ecstatic about becoming a part of SLB,” said Robert Trainer, president and CEO, Gyrodata. “This combination will create important synergies between our technology platforms, bringing immediate and significant benefits for our customers. We look forward to accelerating the next step-change of this technology revolution as part of the world’s leading provider of technology and services to the energy industry.”

The transaction is subject to regulatory approvals and is expected to close towards the end of 2022.

More information on the proposed transaction is available on SLB’s investor relations website, which can be accessed at https://investorcenter.slb.com/.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day to decarbonize oil and gas and develop scalable new energy technologies to accelerate the energy transition. Find out more at slb.com.

About Gyrodata

Gyrodata is one of the world’s leading service providers to the global energy industry with unparalleled expertise in gyroscopic surveying, wellbore placement, and wellbore characterization technologies. Gyrodata’s unique products and services enable its clients to maximize hydrocarbon recovery and optimize an asset’s lifecycle cost.

For more information, visit www.gyrodata.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts and projections regarding the expected benefits of the proposed transaction; the expected timing of the completion of the transaction; the parties’ ability to complete the transaction considering the various regulatory approvals and other closing conditions; future opportunities for the joint venture and its products and services; and any other statements regarding the parties’ or the joint venture’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to, among other things, satisfaction of the closing conditions to the proposed transaction, the risk that the proposed transaction does not occur, negative effects from the pendency of the proposed transaction, the ability to realize expected benefits from the proposed transaction, the timing to consummate the proposed transaction, and (as to LB) other risk factors contained in SLB’s most recent Forms 10-K and other filings with the SEC available at the SEC’s Internet site (http://www.sec.gov). Actual results may differ materially from those expected, estimated or projected. Forward-looking statements speak only as of the date they are made, and the parties undertake no obligation to publicly update or revise any of them in light of new information, future events or otherwise.

Slb.com/newsroom

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005707/en/

Permalink

https://www.aetoswire.com/en/news/2710202228053

Contacts

Media

Moira Duff – Director of External Communication

Tel: +1 (713) 375-3407

Email: media@slb.com

Investors

Ndubuisi Maduemezia – Vice President of Investor Relations

Joy V. Domingo – Director of Investor Relations

Tel: +1 (713) 375-3535

Email: investor-relations@slb.com

Energy Vault Issued Notice of Award From Meadow Creek Solar Farm for a 250MW/500MWh Grid-connected Battery in Victoria, Australia

MELBOURNE, Australia & LUGANO, Switzerland & WESTLAKE VILLAGE, Calif. - Thursday, 27. October 2022

AEMO Advanced Grid Studies for 500MWh Energy Vault BESS Solution kicks off in Australia

First BESS award for short duration storage in the Australian market follows previous announcements earlier this year of Gravity Energy Storage System (GESS) development on a multi-GWh basis for long duration energy storage in the region, demonstrating rapid execution and market adoption of Energy Vault’s solutions and hardware-agnostic software approach for energy management systems

(BUSINESS WIRE)-- Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, today announced a Notice of Award from Meadow Creek Solar Pty Ltd ("Meadow Creek" or "Meadow") for the deployment of a 250MW/500MWh battery energy storage system (“BESS”) at the Meadow Creek Solar Farm in Victoria, Australia. Developed by Meadow Creek, the 330MW solar farm is located three hours north of Melbourne, Australia, and provides zero-carbon electricity to approximately 110,000 homes in the region.

Under this Notice, Energy Vault will immediately begin the advanced grid studies and modeling with technical advisor DNV, as required by the Australian Energy Market Operator (AEMO) for interconnected power systems in Australia's eastern and south-eastern seaboard.

The Meadow Creek Solar Farm has completed extensive work on project feasibility, including grid capacity, and is currently progressing through detailed environmental and technical assessments to support the development application process. The BESS, being co-located with solar PV, will provide the resiliency and flexibility of charge and discharge, essential to shoring up renewable energy supply across the network as Australia adopts the Australian Energy Market Operator's Integrated System Plan.

“We are delighted to be selected for this important project in Australia,” said Lucas Sadler, Vice President of Sales and Business Development, Asia & Pacific (APAC), Energy Vault. “Over the past few months, the new Australian Federal Government has sent a strong mandate to the market to expedite the transition to renewable energy technologies supported by significant State Government updates to their clean energy and emissions reduction targets. The Meadow Creek Solar Farm, Hybrid Solar PV and BESS Developments goals are well met with the market release of Energy Vault’s AC and DC block bespoke energy storage solutions for the Australian market. Importantly, this award builds on the significant progress Energy Vault has made over the past year as we bring our transformative energy storage solutions to this important market.”

"The solutions approach Energy Vault conducted with our team has been pivotal in our decision to select the Energy Vault energy storage hardware and software platform,” said Cameron Munro, Development Manager at Meadow Creek Solar Farm. “Energy Vault’s high energy density design, the option to work with both Central Storage Inverters or the new AC Block and the most advanced Energy Management Software, that enables multiple use cases, optimal economic dispatching and predictive maintenance, bring flexibility and further options when working with our financial and technical partners (DNV and AusNet Services).”

The announcement of the Meadow Creek award follows the appointment earlier this year of Lucas Sadler to Vice President of Sales and Business Development, APAC, a 30 year veteran within the renewable energy, energy management and storage industry with extensive experience in engineering, procurement, and delivery of both short duration and long duration energy storage systems. Mr. Sadler has since been building out the local infrastructures and customer support team in Australia given the strategic growth priority within the region.

The Award from Meadow Creek follows earlier announcements of Gravity Energy Storage Systems (GESS) development on a multi-GWh basis in Australia with Korea Zinc’s subsidiary, Ark Energy, and a previously announced MOU with BHP. This further demonstrates the strategic priority of Australia as a key growth market for Energy Vault, and the market adoption of Energy Vault’s solutions and software approach to its customers’ diverse energy storage requirements.

About Energy Vault

Energy Vault develops and deploys sustainable energy storage solutions designed to transform the world's approach to utility-scale energy storage in realizing decarbonization while maintaining grid resiliency. The company's proprietary gravity-based energy storage technology, battery storage technology, and energy storage management and integration platform are intended to help utilities, independent power producers, and large industrial energy users significantly reduce their Levelized energy costs while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial reuse, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers. For additional information, please visit www.energyvault.com.

Forward-Looking Statements

The information in this press release may contain statements that are not historical facts but are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and within the meaning of "safe harbor" provisions under the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical facts included in this press release, including statements that involve risks, uncertainties, and assumptions and including statements regarding Energy Vault's future expansion, deployments and capabilities, are forward forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Energy Vault cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Energy Vault. In addition, Energy Vault cautions you that the forward-looking statements contained in this press release are subject to the following factors: risks related to the deployment of Energy Vault's energy management software and the other projects announced in this press release, risks related to Energy Vault's ability to supply equipment, engineering, procurement, construction and balance of plant services for the projects announced in this press release, the non-binding nature of the letter of intent, including with respect to whether the transactions contemplated by the LOI will be consummated the fact that there could be unforeseen issues with the system, the ability to meet milestones in order to receive payments, unforeseen delays in the projects announced in this press release, whether these projects will be constructed on time or whether they will operate as planned, developments and changes in the general market, the continuing impact of COVID-19, political, economic, and business conditions, and the impact of competing technologies on demand for Battery powered projects. Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions, prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additionally, you should carefully consider the risks and uncertainties described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, filed with the SEC on August 8, 2022, which is available on our website at investors.energyvault.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

Permalink
https://www.aetoswire.com/en/news/2710202228054

Contacts

Energy Vault
Investors
energyvaultIR@icrinc.com

Media
media@energyvault.com

Australian Enquiries
Lucas Sadler
Vice President of Sales and Business Development, APAC
lucas.sadler@energyvault.com

Meadow Creek Pty Ltd
General:
info@meadowcreeksolarfarm.com.au

Space Technologies Offer Opportunity to Achieve One-Sixth of Emissions Cuts Needed to Reach Net Zero By 2050

  New report from Inmarsat and Globant finds existing satellite technologies could save up to 5.5 billion tonnes of CO2 a year

(BUSINESS WIRE) -- Satellite technologies are already reducing carbon emissions by 1.5 billion tonnes (or 1.5 gigatons) every year, according to independent research commissioned by Inmarsat from leading consultants at Globant’s Sustainable Business Studio. This is equivalent to almost a third of the entire United States’ carbon emissions in 2021[1][2], or the lifetime emissions of 50 million cars[3].

Demonstrating the possibilities of space technologies in the race to Net Zero, the report focuses on three industry sectors: 1) transport and logistics, 2) agriculture, forestry and other land use and 3) energy systems. Together these account for approximately 60% of global emissions[4].

If satellite technologies were adopted universally by these industries, the CO2 savings currently being delivered through satellite technologies could almost quadruple to up to 5.5 billion tonnes a year based on current technologies alone, the Globant analysis suggests.

This is equivalent to one-sixth of the total carbon emissions currently estimated as necessary to keep the global temperatures rise below 1.5°C by 2030 – or one-third of that necessary to keep temperature rises below 2°C[5] – underlining the positive impact space technologies could have on the largest single challenge facing the world.

Based on the research, the Globant calculations suggest that the world is currently missing out on up to 4 billion tonnes of potential and immediate CO2 reductions[6] by not taking advantage of the decarbonising abilities of satellite technologies. These technologies enable fuel consumption savings and improved routing in transport, reduced energy use and optimisation in energy and even fire prevention in forestry, among many others.

Rajeev Suri, Inmarsat CEO, said “Action to address decarbonisation is a global priority, and space technologies offer a significant source of hope in addressing this challenge. Our report, commissioned from Globant, underlines how space can offer significant carbon emissions savings now and even greater savings in the future – directly contributing to the fight against climate change.

“As world leaders gather shortly for COP27, we offer them the opportunity to look at the role of satellite technologies within their decarbonisation strategies and encourage them to work closely with our industry to gather more effectively the data we need to make an impactful contribution towards de-risking Earth’s temperature rise. At COP27 and beyond, we look forward to working with world and industry leaders to seize this opportunity, and effect real, lasting change for our planet.”

Recent consumer research conducted for Inmarsat as part of its ‘What on Earth is the value of space?’ initiative found that 4 in 10 people think space can help solve climate change.[7] The findings from the second study in the initiative should be particularly encouraging to this large minority.

That said, satellite technology is by no means the sole solution to climate change. Crucial work on alternative energy sources and new energy storage technologies and other remedies needs to continue at full pace. But the savings available from existing space technologies can make an immediate impact – helping to potentially buy more time for these additional remedies to be developed and rolled out.

Looking ahead, the Globant report also found that 8.8 billion tonnes of carbon emissions – equivalent to almost a quarter (23%) of global emissions in 2021[8], or the emissions per capita of 1.8 billion people[9] – could be saved if the wealth of nascent space-enabled technologies that are emerging or set to emerge were widely adopted over the coming years. These include:

In maritime, autonomous ships could save 400 million tonnes by reducing fuel consumption

In energy, AI-driven energy optimisation for energy transition could save 1.3 billion tonnes of CO2

In aviation, the ESA Iris technology could save 100 million tonnes of carbon if adopted across the aviation industry – with the first aircraft set to fly in early 2023

Martin Umaran, Co-founder and Chairman for EMEA at Globant, said “As a digitally native company, we are constantly striving to understand and appreciate the role that disruptive technologies play on paramount topics for the greater good such as sustainability and the race to Net Zero. This is why this joint effort with Inmarsat is both thrilling and impactful for us. At Globant, we are front runners in sustainability powered by tech, and the synergy with satellite communications technology delivers an unprecedented thought leadership decarbonisation piece as a result”.

[1] ONS

[2] https://www.statista.com/statistics/183943/us-carbon-dioxide-emissions-from-1999/

[3] Roughly 66,000 lbs CO2 [is] emitted by an ICE car (assuming 93,000 miles driven)

[4] Included in the research: transport (15% of global emissions), agriculture, forestry and land use (22%), electricity and heat (23%)

[5] “The emissions gap in 2030… is estimated at 12-15 Gt CO2 to limit global warming to below 2°C and 29-32 Gt CO2e to 1.5°C.”

[6] The difference between 1.5 billion tons of existing savings, and the 5.5 billion tons of savings projected from full adoption of satellite technologies

[7] https://www.inmarsat.com/en/news/latest-news/corporate/2022/people-unaware-concerned-space-landmark-report.html

[8] “In 2021, global CO2 emissions ... totalled 37.9 Gt CO2”

[9] https://www.statista.com/statistics/268753/co2-emissions-per-capita-worldwide-since-1990/

ABOUT INMARSAT

Inmarsat delivers world leading, innovative, advanced and exceptionally reliable global, mobile communications – in the air, at sea and on land – that enable a new generation of commercial, enterprise, government and mission-critical services, including the digitalisation of the maritime and aviation sectors.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005104/en/

Permalink

https://www.aetoswire.com/en/news/2710202228048

Contacts

Media: press@inmarsat.com

 

ICS® Diamond Tools and Equipment Is Rebranding to Oregon®

 The industry leader in pipe and concrete precision cutting is harkening back to its heritage and assuming the name of the flagship brand that started it all 75 years ago

(BUSINESS WIRE)-- ICS® Diamond Tools and Equipment (ICS), the industry leader in pipe and concrete precision cutting, announced today that it will rebrand to Oregon®, which is a division of Oregon Tool, Inc. ICS® was founded as a project within Oregon® in the ’90s, and this transition will allow the company to continue to evolve while building on its legacy under the name of its flagship brand. Unifying the two brands is a natural next step in redefining what’s possible in the power cutter market.

The inspirational power of nature is what led Joe Cox to found Oregon Tool, Inc. and leave his mark as the creator of saw chains that revolutionized the industry. In the ’90s, a small team of people saw an opportunity to build on Oregon Tool Inc.’s strong foundation. The result was the creation of ICS®, which forged a path in designing and developing power cutters for individuals working with concrete and iron pipe. At the heart of it, ICS® has always been Oregon®, just a different brand.

“Intrepid, bold thinking is a deep-seated belief at ICS®, and we’re excited to continue providing that innovation, quality and performance as Oregon®,” said Paul Tonnesen, CEO of Oregon Tool, Inc. “We’re confident that the global recognition Oregon® has established will seamlessly integrate our brands and further showcase our tools as the top choices for professional and do-it-yourself users.”

We are taking bold steps that enable us to evolve and doing so as Oregon®. What’s important to remember is that while the ICS® name is changing, the commitment to our people, customers and product is not. We’re still the same great team supporting our customers when they’re in need of a superior tool for the job at hand – we’re just doing it with a great new look.

While we officially transition to the Oregon® brand on October 24, there will be a period where both ICS® and Oregon® products live in the marketplace together. To learn more, visit oregonconstruction.com.

About the Oregon Construction Business of Oregon® Products

Headquartered in Portland, Oregon, with distribution in 70 countries, Oregon® Products and its Oregon Construction Business invented the diamond chain cutting technology and has been the global leader in chain-based concrete and pipe cutting solutions for over 30 years. Because “good enough” isn’t good enough and equipment needs to show up and measure up, these products are tirelessly designed, engineered and manufactured to outwork the competition. Using best-in-class materials, our SealPro® anti-stretch technology reduces chain stretch to maximize chain life, and our patented PowerGrit® diamond cutting chain makes it safer and easier to cut ductile iron, HDPE and PVC pipe in confined spaces with significantly lower kickback risk. Oregon® diamond chain, guide bars and powerheads offer a cutting system with up to 25-inch cutting depth. Also, Oregon® powerheads are designed for wet cutting with integrated water-delivery systems that reduce airborne particles during the cut. Oregon® is part of the Oregon Tool, Inc. portfolio of brands. To learn more, visit oregonconstruction.com.

Permalink

https://www.aetoswire.com/en/news/26102022278034

Contacts

Hiebing: Lauren Smith

(608) 268-4408

lsmith@hiebing.com

 

Kioxia and Western Digital Celebrate the Opening of Fab7 at Yokkaichi, Japan

 

YOKKAICHI, Japan & SAN JOSE, Calif.

YOKKAICHI, Japan & SAN JOSE, Calif.--(BUSINESS WIRE)--Kioxia Corporation and Western Digital Corporation (NASDAQ: WDC) today celebrated the opening of the state-of-the-art semiconductor fabrication facility, Fab7, at the Yokkaichi Plant in Mie Prefecture, Japan. Production capacity at Fab7 will ramp up in stages over time, in line with market trends.

Total investment in phase one of Fab7 is expected to be approximately one trillion yen. Part of the capital investment in phase one of the Fab7 facility will be funded by a government subsidy that promotes cutting-edge semiconductor production facilities and ensures the stable production of semiconductors in Japan.

Fab7 has the capability to produce sixth-generation, 162-layer flash memory and future advanced 3D flash memory, is scheduled to start shipping 162-layer flash memory in early 2023.

The facility uses artificial intelligence for enhanced production efficiencies and employs a space-efficient facility design that enlarges the space available for manufacturing equipment in its clean rooms. Fab7 is built for safety and sustainability, capable of absorbing earthquake shocks and implements the latest energy-saving manufacturing equipment.

Nobuo Hayasaka, President and CEO of Kioxia Corporation said, “Fab7 is the latest and most technologically advanced semiconductor manufacturing facility in Japan and will be indispensable for Kioxia’s future. Long-term global demand for memory products is expected to increase as the world consumes more data across a variety of connected devices. We will continue to invest for the future and respond to market needs, in turn helping to build a digital society that enriches people’s lives.”

Dr. Siva Sivaram, President, Technology & Strategy of Western Digital said, “With its innovative design and production efficiencies, the new Fab7 facility underscores Western Digital’s commitment to deliver sustainable memory and storage technologies to our customers globally. We value our tremendous relationship with Kioxia and celebrate this milestone as we continue to drive long-term success together.”

Kioxia and Western Digital have shared a successful joint venture partnership for over 20 years and will continue to maximize synergies and competitiveness through joint development of 3D flash memory.

About Kioxia

Kioxia is a world leader in memory solutions, dedicated to the development, production and sale of flash memory and solid-state drives (SSDs). In April 2017, its predecessor Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Kioxia is committed to uplifting the world with memory by offering products, services and systems that create choice for customers and memory-based value for society. Kioxia's innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, SSDs, automotive and data centers.

About Western Digital

Western Digital is on a mission to unlock the potential of data by harnessing the possibility to use it. With Flash and HDD franchises, underpinned by advancements in memory technologies, we create breakthrough innovations and powerful data storage solutions that enable the world to actualize its aspirations. Core to our values, we recognize the urgency to combat climate change and have committed to ambitious carbon reduction goals approved by the Science Based Targets initiative. Learn more about Western Digital and the Western Digital®, SanDisk® and WD® brands at www.westerndigital.com.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025006159/en/

Permalink

https://www.aetoswire.com/en/news/26102022278022

Contacts

Kioxia Contacts:

Kota Yamaji

Kioxia Public Relations

81-3-6478-2319

kioxia-hd-pr@kioxia.com

Western Digital Contacts:

Robin Schultz

Western Digital Public Relations

1-408-573-5043

robin.schultz@wdc.com

T. Peter Andrew

Western Digital Investor Relations

1-949-672-9655

peter.andrew@wdc.com

 

European AI Startup Axelera AI Closes $27 Million Series A

 Company to launch AI acceleration platform in early 2023

(BUSINESS WIRE) -- European AI startup Axelera AI announced today the close of its $27 million Series A investment round.

The funding will support Axelera AI’s launch and mass production of its first-generation AI acceleration platform, powered by its disruptive in-memory computing and dataflow. Since its inception and initial funding last year, Axelera AI successfully taped-out its first testbench chip, developed entirely in-house, proving the performance and efficiency of in-memory compute for AI computations [Link]. Axelera AI will also further expand its team.

Axelera AI is designing the world’s most efficient and advanced solutions for AI at the edge. The company will empower thousands of more efficient and accessible edge AI applications and will be fully integrated with leading open-sourced AI frameworks when it launches to select customers and partners in early 2023.

Jonathan Ballon, former VP and GM of Intel’s Edge AI and IoT business, will serve as Chairman of Axelera AI.

“The closing of this investment round comes closely after our Thetis Core announcement, proving our technology’s advantages to the AI community. We are excited to work with our investors to become a leader in European AI, strengthening the continent’s presence in the global sector,” said Fabrizio del Maffeo, Axelera AI CEO and co-founder.

The funding round was led by Innovation Industries and joined by imec.xpand and the Federal Holding and Investment Company of Belgium (SFPIM). In addition, the Netherland Enterprise Agency (RVO) awarded Axelera AI $6.7 million of Innovation Credit (Innovatiekrediet), a special loan reserved for highly innovative and impactful projects, commissioned by the Ministry of Economic Affairs and Climate Policy.

Axelera AI will shortly announce its first product and begin raising for its Series B.

About Axelera

Axelera AI is designing the world’s most powerful and advanced solutions for AI at the edge. Its game-changing hardware and software product will concentrate the AI computational power of an entire server into a single chip at a fraction of the power consumption and price of AI hardware today. Headquartered at Eindhoven’s High Tech Campus AI Innovation Center, Axelera AI has R&D offices in Belgium, Switzerland, and Italy. Its team of experts in AI software and hardware hail from top AI firms and Fortune 500 companies. For more information see: www.axelera.ai

 

In Paris, FEELM Leads the Way in Disposable and Eco-Friendly Vaping Solutions

 PARIS - Wednesday, 26. October 202

(BUSINESS WIRE)--The 16^th VapExpo was held in Paris on the 22-23 October at the Paris Event Center, and was an opportunity for e-cigarette brands, distributors, professionals, and consumers to come together to discuss current trends and new innovations in the industry.

With a global reach, and a European focus, the Paris VapExpo is the most influential vaping industry show in France. FEELM, the flagship atomization technology platform belonging to SMOORE - the world’s largest vape manufacturer, presented a variety of solutions and customized disposable vape for European customers at the show.

Previously, in the European market, the disposable vape HEXA GO – equipped with FEELM Max technology – has been marketed in Belgium and the Netherlands and has been warmly welcomed by local consumers. The impact of FEELM Max is spreading rapidly in the European market due to its more puffs, velvet silky and same great taste till last puff. On the show floor, FEELM revealed that the products are also landing in Italy, UK, Germany, France, and other European markets.

Following the trends already found in the United States, the European market is accelerating from open to closed system. Data from ECigIntelligence shows that, in France, closed products now account for around 33 per cent of all sales; in the United Kingdom, this has reached a high of 40 per cent, and shows no sign of slowing down. During the exhibition, many retailers were predicting that the proportion of closed products sold in their stores will only continue to increase.

The closed system market consists of closed pod and disposable vape. In the past two years, the number of disposable users grew rapidly, and has become the fastest growing category of closed products overall. Disposable products have attracted a large and growing number of consumers because of their ease of use and rich taste. However, with greater attention now turning to the potential environmental problems around disposable vapes, and a growing consumer awareness, the industry is undergoing rapid transformation.

FEELM are leading the way on this issue and introduced its Eco (eco-friendly) series at the Paris VapExpo show as a clear solution. Having already won the IF Design Award, the Red Dot Award, and other global design awards, the Eco series is at the forefront of this new trend toward environmentalism within disposable vapes. It has also been exhibited in Birmingham in the UK and in Stuttgart in Germany, and is gaining the attention of many leaders within the European vaping space.

FEELM’s ECO series, demonstrated at the Paris VapExpo, adopts an integrated design of product packaging, with the overall material made of biodegradable materials. Its innovative design of packaging-free and product integration maximizes FEELM’s goal of being low-carbon and environmentally friendly. The ECO series aims to deploy the large-scale use of environmentally friendly resources to replace the original plastic, silicone, and other non-biodegradable materials; it is recyclable, waterproof, lightweight, strong, tear-resistant, and has a unique texture.

At the same time, the auxiliary materials used in ECO series, such as internal brackets, are biodegradable PLA (polylactic acid) materials, with a greater emphasis on biosafety, fast degradation, and more environmentally friendly. Compared with traditional e-cigarette products, the Eco series reduces plastic by more than 50 per cent, and the packaging removes plastic entirely.

FEELM has previously been awarded the "Carbon Neutral Technology Pioneer Award" for its continuous attempts in the field of carbon neutrality. Earlier in May, FEELM announced its carbon neutrality goal, which is to achieve carbon neutrality by 2050 and 30 per cent of energy consumption from renewable sources by 2030.

As a leader in its field, FEELM has introduced the world's first ceramic coil solution – FEELM Max – into the European market and is continuing to introduce environmentally friendly solutions to meet local needs in different markets. FEELM Max also brought the innovative design of a "Semi-translucence Mouthpiece" to address the pain point of users who do not know when the vaping liquid is finished, which also attracted the attention of many attendees at the Paris VapExpo.

What further innovations will disposable products bring to consumers in the future? This question remains to be further answered by the market.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005461/en/

Permalink
https://aetoswire.com/en/news/2610202228042

Contacts

Bluehole New Consumption
Cheng Bianji, (086)13530848319

FEELM Official
feelm@smooretech.com