Mark Russo CEO of Treasure Investments Corporation Unveils the World’s Largest Pure Silver Sculpture Ever Created

Mark Russo along with Steve Forbes, CEO and Founder of Forbes Media LLC, and Michael Sheppard, unveiled Michelangelo’s original pure silver Pietà as the world’s largest pure silver casting on July 13th, 2022 in Las Vegas, Nevada

Michelangelo’s original Pietà in Pure Silver

BATTLE GROUND, Wash., Sept. 20, 2022 (GLOBE NEWSWIRE) — Treasure Investments Corporation (TIC) has completed the grand endeavor of producing the single largest .999 pure silver sculpture ever created of the original Pietà by Michelangelo Buonarroti. TIC has been given the exclusive rights to cast number 1 of 1 and only one ever to be created in pure silver. The exclusive rights to the posthumous original masterpiece are authenticated by Casa Buonarroti Museum and Foundation with the red waxes poured from the original mold at the historic Fonderia Artistica Ferdinando Marinelli in Florence, Italy. The Marinelli Foundry was given access to the Vatican prior to World War II when Pope Pius XI summoned Marinelli Sr. with concern over looming war and the possibility of theft or damage of the Vatican’s priceless art collections. Marinelli Foundry, specifically Ferdinando Marinelli Sr, was given the honor of creating master molds of plaster, right from the original marble sculptures, one of which is entitled the Pietà created by Michelangelo in 1499.

“We believe the Pietà in pure silver, as a one-of-one original and the largest pure silver sculpture ever created with empirical provenance to support the piece, could exceed 100 million USD,” said Mark Russo, CEO & Founder of Treasure Investments Corp.

It is from this original master mold that Marinelli poured a flawless red wax which was inspected and examined by Casa Buonarroti for TIC and found to be perfectly compliant with Michelangelo’s original. In a letter written to TIC from the Foundation of Casa Buonarroti, Dr. Alessandro Cecchi, the Director of the museum and the highest authority of authentication for the Foundation of Michelangelo, affixed its coat of arms and the Lily of Florence, authorizing Treasure Investments to produce one and only one silver posthumous original casting of the Pietà.

These waxes were shipped by air from Florence, Italy, and received at the TIC headquarters and new renaissance art museum, “Museo Michelangelo” in Battle Ground, WA. “It was an incredible day for everyone at the headquarters when the Pietà waxes showed up; it’s not every day you receive original Michelangelo’s from Italy,” said Mark Russo, CEO of TIC.

Treasure Investments Corporation purchased the exclusive rights to cast over 72 European masterpieces in precious metals from the Vatican collections; including works by Michelangelo, Canova, Apollonius of Nestor, Bernini, and others. Obtaining these rights allow TIC to be the only entity authorized to create these pieces in pure Silver, Gold, and Platinum. All of which will be only one-of-one and will be considered posthumous originals.

The Pietà by Michelangelo, now complete and cast in .999 pure silver, weighs an astonishing 20,021 ounces making it the single largest pure silver sculpture ever created. When asked about the Pietà‘s value in pure silver, Mark Russo stated, “We believe that the Pietà by Michelangelo in pure silver, as a one-of-one original and the largest pure silver sculpture ever created with empirical provenance to support the piece, could exceed 100 million USD in value and whomever the person or institution that makes the purchase has an incredible investment opportunity, as we believe that the true value is much higher than that.”

TIC has been casting large sculptures in pure silver for the last 5 years. Most of the pieces weigh over 1000 ounces and are among the collection by famous artist Lorenzo Ghiglieri (1931-2020). The images cast in precious metals are primarily from his eagle collections and other wildlife pieces. In the last 2 years, Treasure has produced over 45,000 ounces of sculpture in silver from our vast master mold collection. “We knew we wanted to cast the largest silver piece ever done but needed to find the right piece. When we asked our team what that image should be, we all asked the right questions. Who is the most famous artist in human history? And what are the most famous sculptures in human history? It was easy to find that Michelangelo was at the top of the list for artists and the Pietà as one of the most famous sculptures in history. The hardest question to answer was would it ever be possible to do, let alone get permission, access to the molds, and obtain the true and empirical provenance to support the validity and authentication of the original work?” said Russo. The Pietà selected is a work of Renaissance sculpture by Michelangelo Buonarroti, housed in St. Peter’s Basilica, Vatican City. It is the first of a number of works of the same theme by the artist. The statue was commissioned for the French Cardinal Jean de Bilhères, who was the French ambassador in Rome.

After several years of hard work, an undisclosed amount of cash, and a trip to Florence, Italy, Treasure Investments’ wish came true to begin the production of original masterpieces in pure silver from the Vatican collections. “For us, it was a dream come true. The result of an amazing amount of hard work and dedication to what we love,” says Jason Dilling, President of Sales for Treasure Investments Corp.

Due to the complexity and the nearly impossible challenge to cast and create the largest pure silver sculpture in history from the original waxes, Mark knew who to work with to make this dream a reality. Mark contacted Rip Caswell, the owner of Firebird bronze in Troutdale, OR. “Rip, a world-famous sculpture artist himself has an amazing gift of creation. His wildlife pieces and other spectacular masterworks have been in the fine art and foundry business for decades. Rip’s incredible team at Firebird Bronze has over 400 years of experience in the casting business and is probably the only one qualified to cast Michelangelo’s works in pure silver. I knew Rip Caswell was the perfect person to help bring this project to fruition. His eye for perfection and his talent as an artist made the Michelangelo Pietà casting in silver one of the most impressive sculptures in human history,” said Mark Russo.

When asked what the next piece TIC is going to create in pure silver and how can they ever top the Pietà? Russo’s answer was, “The David, by Michelangelo. Can you imagine that piece in pure silver standing over 19′ in height?”

Treasure Investments has already begun the production of the original David sculpture by Michelangelo. Arguably the most famous art piece in history and TIC will be producing this sculpture in pure .999 fine silver. The red waxes have already been poured and will be sent to TIC headquarters this fall. Treasure Investments expects to unveil the piece to the world sometime next year and when finished, will stand nearly 19′ in height and weigh an estimated 80,000 ounces of pure silver.

Treasure Investments Corp dba Foundry Michelangelo, “The Source for the world’s greatest fine art masterpieces,” creates original sculptures from small desktop collectibles to larger-than-life heroic monuments cast in bronze, pure silver, and gold. The company’s master mold collection contains thousands of original molds from world-famous artists, including Benvenuto Cellini, C.M. Russell, Edgar Degas, Bill Toma, Auguste Rodin, Ghiglieri, Bernini, and Michelangelo. For more information, visit FoundryMichelangelo.com.

Contact Information:
Mark Russo
CEO, Founder
info@treasureinvestmentscorp.com
01 360 954 5453

Related Images

Image 1: Michelangelo’s original Pietà in Pure Silver

Mark Russo with Michelangelo’s original Pietà cast as the largest pure silver sculpture ever created

Image 2: Mark Russo | Firebird Bronze | Red Waxes of Michelangelo’s Pietà

Mark Russo with Firebird Bronze Foundry owner Rip Caswell and Museo Michelangelo Museum Curator Madison Brower at the foundry carefully removing the Original Red Waxes of Pietà from Florence, Italy

Image 3: The David by Michelangelo | Pure Silver | Treasure Investments Corp Exclusive

The David by Michelangelo to be cast in Pure Silver with an estimated weight of 80,000 ounces as a Treasure Investments Corp Exclusive (Currently in Production)

This content was issued through the press release distribution service at Newswire.com.

Attachment

UN Global Compact welcomes two additional highly engaged companies for supporting programmatic work to accelerate principled business and the SDGs

New UN Global Compact Patron & Sponsor companies announced ahead of Uniting Business Live 2022

United Nations, New York, Sept. 20, 2022 (GLOBE NEWSWIRE) — The United Nations Global Compact is pleased to announce new additions to the group of Patron and Sponsor companies who have displayed their ongoing commitment to the Ten Principles of the UN Global Compact and the Sustainable Development Goals (SDGs).

Enel, as a Patron, and RELX, as a Sponsor, have committed to supporting the UN Global Compact’s work on Governance and SDG 16.

The UN Global Compact Patron and Sponsor companies recognized today are highly engaged participants of the world’s largest corporate sustainability initiative and support the programmatic rollout of accelerator programmes, peer learning groups, think labs, and e-learning tools on the SDGs, across topics including  Gender Equality, Climate Change, Human Rights and Labour Rights.

The Patrons’ financial and in-kind support helps make it possible to deliver these programmes through UN Global Compact Local Networks in 69 countries, with an emphasis on supporting small and medium sized enterprises (SMEs) around the world on their sustainability journey.

“Patron and Sponsor companies represent the highest level of engagement with the UN Global Compact and are key to implementing our 2021–2023 strategy, which is focused on accelerating and scaling the global collective impact of business. We thank our Patrons and Sponsors and welcome others to join us to deliver impact at scale globally through the upholding of the Ten Principles,” said Sanda Ojiambo, Assistant Secretary-General and CEO of the UN Global Compact.

To be eligible for Patron and Sponsor recognition, companies must demonstrate a commitment to the UN Global Compact and its Ten Principles, display strong performance in the sustainability area they are sponsoring and commit to funding and working on the programme for a minimum of two years.

The initial group of 2022–23 Global Compact Patron and Sponsor companies are:

Gender Equality:

Patron: L’Oreal

Sponsors: Mary Kay,  Project Management Institute

Labour Rights:

Patron: Schneider Electric

Sponsors: McCormick & Co, UPM, L’Oreal, Firmenich

Climate:

Patrons: Iberdrola, AIA Group

Sponsors: Schneider Electric, Moody’s

Governance: 

Patron: Enel

Sponsor: RELX

SDG Integration:

Patrons: 3M, SAP, Project Management Institute

SME Engagement:

Patron: CEMEX

Sponsor: Safaricom

About the United Nations Global Compact

As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 15,000 companies and 3,000 non-business signatories based in over 160 countries, and 69 Local Networks, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting business for a better world.

For more information, follow @globalcompact on social media and visit our website at unglobalcompact.org

Media Contact:  Alex Gee, gee@unglobalcompact.org

UN Global Compact Media
United Nations Global Compact
(212) 907-1301
media@unglobalcompact.org

Junshi Biosciences Receives NMPA Approval of sNDA for Toripalimab in Combination with Chemotherapy as First-Line Treatment for Advanced Non-squamous Non-Small Cell Lung Cancer

–6th approved indication of toripalimab in China, bringing more treatment options to patients with advanced NSCLC

SHANGHAI, China, Sept. 20, 2022 (GLOBE NEWSWIRE) — Shanghai Junshi Biosciences Co., Ltd (“Junshi Biosciences”, HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced today that the China National Medical Products Administration (“NMPA”) has approved the supplemental new drug application (“sNDA”) for toripalimab in combination with pemetrexed and platinum as the first-line treatment in EGFR mutation-negative and ALK mutation-negative, unresectable, locally advanced or metastatic non-squamous non-small cell lung cancer (“NSCLC”). This is the sixth indication approved for toripalimab in China and will bring more treatment options to Chinese patients with advanced NSCLC.

“We are very pleased that toripalimab’s first indication for the treatment of lung cancer has been approved, which means we will be able to help more patients fight against malignant tumors with the highest incidence and mortality rates in China,” said Dr. Jianjun Zou, Global Research and Development President at Junshi Biosciences. “We are particularly grateful to our patients, researchers, and R&D teams that participated in the clinical trials, whose efforts and contributions allowed our study to progress during the COVID-19 pandemic. We will continue to advocate for the use of toripalimab in the treatment of lung cancer as well as other cancers, and we hope to provide many more patients with better treatment options and greater survival benefits as soon as possible!”

Professor Jie Wang from the Cancer Hospital, Chinese Academy of Medical Sciences elaborated on toripalimab’s performance in clinical trials. “In China, the number of lung cancer patients is massive and so is the demand for treatment. The CHOICE-01 study provided us with reliable and substantiating data, confirming that the addition of toripalimab to standard first-line chemotherapy can bring longer progression-free survival (“PFS”) and overall survival (“OS”) to patients with advanced NSCLC, regardless of PD-L1 expression and with a manageable safety profile. For patients with advanced non-squamous NSCLC, published data reveal that the 2-year OS rate is around 50%, and according to the CHOICE-01 study results, toripalimab in combination with chemotherapy is the only PD-(L)1 inhibitor combination in this field that can achieve a 2-year OS rate of more than 60%, not to mention a 50% decrease in risk of death, indicating that toripalimab plus standard chemotherapy can significantly increase survival benefits for patients. We are excited for toripalimab’s continuous contribution to the battle against lung cancer!”

Between April 2, 2019 to August 5, 2020, the CHOICE-01 study enrolled a total of 465 NSCLC patients in 63 centers in China, among which 245 non-squamous NSCLC patients were randomly allocated in the ratio of 2:1 to receive toripalimab/placebo in combination with pemetrexed and cisplatin/carboplatin. After disease progression, eligible control subjects could receive crossover treatment with toripalimab monotherapy. Previously, the latest research results of the CHOICE-01 study were announced at the 2022 American Society of Clinical Oncology (“ASCO”) Plenary Series March Program and the ASCO annual meeting. The study data showed that compared to chemotherapy alone, toripalimab in combination with chemotherapy in the first-line treatment of patients with advanced NSCLC without EGFR/ALK mutations can significantly improve the PFS and the OS of patients with a manageable safety profile regardless of PD-L1 expression status.

As of October 31, 2021, in 245 non-squamous NSCLC patients, the median PFS of toripalimab in combination with chemotherapy was 9.7 months, which was 4.2 months longer than placebo in combination with chemotherapy (HR = 0.48 [95% CI: 0.35-0.66], p < 0.0001); the median OS of toripalimab in combination with the chemotherapy group has yet to be reached, while OS benefits had already been observed, reducing the risk of death by 52% (HR=0.48 [95%CI: 0.32-0.71]).

About NSCLC
Lung cancer is currently the second most prevalent malignant tumor with the highest mortality rate in the world[1], and the most prevalent with the highest mortality rate in China[2]. According to data released by the World Health Organization, in 2020, the number of new lung cancer cases in China amounted to 816,000 and accounted for 17.9% of all new cancer cases in China[2]. In the same year, the number of lung cancer deaths in China amounted to 715,000 and accounted for 23.8% of all cancer deaths in China[2]. NSCLC is a major subtype of lung cancer, accounting for approximately 85% of all cases[3]. Non-squamous NSCLC patients account for approximately 70% of all NSCLC patients[4]. Existing domestic and overseas studies have shown that the use of anti-PD-(L)1 monoclonal antibodies as monotherapy or in combination with chemotherapy has already become new standard for the first-line treatment of advanced driver gene-negative NSCLC.

[1] https://gco.iarc.fr/today/data/factsheets/cancers/15-Lung-fact-sheet.pdf
[2] https://gco.iarc.fr/today/data/factsheets/populations/160-china-fact-sheets.pdf
[3] Rosell R, Karachaliou N. Large-scale screening for somatic mutations in lung cancer. Lancet, 2016, 387(10026): 1354-1356. doi: 10.1016/S0140-6736(15)01125-3
[4] Gridelli C, et al. Nat Rev Dis Primers. 2015;1:15009

About Toripalimab
Toripalimab is an anti-PD-1 monoclonal antibody developed for its ability to block PD-1 interactions with its ligands, PD-L1 and PD-L2, and for enhanced receptor internalization (endocytosis function). Blocking PD-1 interactions with PD-L1 and PD-L2 promotes the immune system’s ability to attack and kill tumor cells. In China, toripalimab was the first domestic anti-PD-1 monoclonal antibody approved for marketing in 2018 (approved in China as TUOYI®). Currently, there are six approved indications for toripalimab in China.

About Junshi Biosciences
Founded in December 2012, Junshi Biosciences (HKEX: 1877; SSE: 688180) is an innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative therapeutics. The company has established a diversified R&D pipeline comprising over 50 drug candidates, with five therapeutic focus areas covering cancer, autoimmune, metabolic, neurological, and infectious diseases. Junshi Biosciences was the first Chinese pharmaceutical company that obtained marketing approval for anti-PD-1 monoclonal antibody in China. Its first-in-human anti-BTLA monoclonal antibody for the treatment of various cancers was the first in the world to be approved for clinical trials by the FDA and NMPA and has since entered Phase Ib/II trials in both China and the US. Its anti-PCSK9 monoclonal antibody was the first in China to be approved for clinical trials by the NMPA.

In the face of the pandemic, Junshi Biosciences’ response was strong and immediate, joining forces with Chinese and international scientific research institutions and enterprises to develop an arsenal of drug candidates to combat COVID-19, taking the initiative to shoulder the social responsibility of Chinese pharmaceutical companies by prioritizing and accelerating COVID-19 R&D. Among the many drug candidates is JS016 (etesevimab), China’s first neutralizing fully human monoclonal antibody against SARS-CoV-2 and the result of the combined efforts of Junshi Biosciences, the Institute of Microbiology of the Chinese Academy of Science and Lilly. JS016 administered with bamlanivimab has been granted Emergency Use Authorizations (EUA) in over 15 countries and regions worldwide. As of December 3 2021, over 700,000 patients have been treated with bamlanivimab or bamlanivimab and etesevimab, potentially preventing more than 35,000 hospitalizations and at least 14,000 deaths. Meanwhile, VV116, a new oral nucleoside analog anti-SARS-CoV-2 drug designed to hinder virus replication, is in global Phase III clinical trials. A Phase III clinical study (NCT05341609) comparing the efficacy and safety of VV116 versus nirmatrelvir/ritonavir (“PAXLOVID”) for patients with mild to moderate COVID-19 who are at high risk for progression to severe COVID-19, has reached its pre-specified primary endpoint and secondary efficacy endpoint. The study results show that compared to PAXLOVID, VV116 provided patients with a shorter median time to sustained clinical recovery, while achieving statistical superiority. The JS016 and VV116 programs are a part of the company’s continuous innovation for disease control and prevention of the global pandemic.

Junshi Biosciences has more than 3,100 employees in the United States (San Francisco and Maryland) and China (Shanghai, Suzhou, Beijing, Guangzhou, etc). For more information, please visit: http://junshipharma.com.

Junshi Biosciences Contact Information
IR Team:
Junshi Biosciences
info@junshipharma.com
+ 86 021-6105 8800

PR Team:
Junshi Biosciences
Zhi Li
zhi_li@junshipharma.com
+ 86 021-6105 8800

Hitachi Energy to support major renewable electricity transmission between Canada and New York City

HVDC Light® transmission system will transfer renewable energy for over 1 million New York homes and help achieve the state’s climate goals

Zurich, Switzerland, Sept. 20, 2022 (GLOBE NEWSWIRE) — Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, today announced it was selected by Transmission Developers Inc., a Blackstone portfolio company specialized in renewable power development, to supply a high-voltage direct current (HVDC) converter station that is a key part of the transmission solution for the Champlain Hudson Power Express (CHPE) HVDC interconnection between Québec, Canada and the New York City metro area, the United States.

The link will enable the delivery of clean, renewable hydropower between Canada and New York, contributing to New York’s Climate Leadership and Community Protection Act (CLCPA), which aims for the state to be powered by 70 percent renewable energy by 2030.*1 CHPE is expected to decrease CO2 emissions by an average of 3.9 million metric tons per year, equivalent to removing 44 percent of passenger vehicles from New York City.*2

Using Hitachi Energy’s HVDC Light® technology, CHPE will transfer up to 1,250 megawatts of electricity, enough to power 1 million New York households. The link will efficiently transmit electricity for more than 600 kilometers (372 miles) underground from Hertel, Canada, through Lake Champlain and the Hudson River, to an HVDC converter station in Astoria, Queens.*1

HVDC systems have tremendous potential for bringing large amounts of electricity directly into cities, which is essential for securing sustainable and affordable power today and in the future,” said Niklas Persson, Managing Director of Hitachi Energy’s Grid Integration business. “We are proud to play a crucial role in this very important investment in North America’s transition to renewable energy and carbon neutrality.”

“Hitachi Energy’s market leading HVDC technology will ensure efficient and reliable transmission of renewable energy for over 1 million New York homes and help achieve the state’s climate goals,” said Transmission Developers CEO Donald Jessome. “We look forward to beginning construction activity later this year and to delivering an abundance of clean, renewable energy to New Yorkers.”

Power requirements in cities are increasing, especially in densely populated areas where land is already scarce, and difficulties can arise when new right-of-ways must be secured for traditional transmission lines. HVDC technology enables large amounts of high-quality electricity to be delivered where it is most needed with complete control and with a very compact footprint using out-of-sight underground or underwater cables.

The complete CHPE system, of which the HVDC converter stations are the enabling technology, is expected to create more than 1,400 jobs during construction and, during the first 30 years of operation, deliver almost $50 billion in economic benefits to New York state.*1

For the New York site, Hitachi Energy will supply the HVDC Light converter station, that will  convert the DC power from Canada to AC power and make it available for the AC grid in New York.

Kiewit, one of North America’s largest and most respected engineering and construction companies, will be responsible for the civil works for the converter station in New York. The collaboration with Kiewit will combine the core competencies of the two companies to deliver a best-in-class solution.

Note to editors:

Hitachi Energy’s HVDC solution combines world-leading expertise in HVDC converter valves; the MACH™ digital control platform*3, converter power transformers and high-voltage switchgear; as well as system studies, design and engineering, supply, installation supervision and commissioning.

HVDC Light® is a voltage source converter technology developed by Hitachi Energy. It is the preferred technology for many grid applications, including interconnecting countries, integrating renewables and “power-from-shore” connections to offshore production facilities. HVDC Light’s defining features include uniquely compact converter stations and exceptionally low electrical losses.

Hitachi Energy pioneered commercial HVDC technology almost 70 years ago and has delivered more than half of the world’s HVDC projects.

*1 Champlain Hudson Power Express

*2 May 2021 PA Analysis Report

*3 Modular Advanced Control for HVDC (MACH™)

HVDC website:

https://www.hitachienergy.com/offering/product-and-system/hvdc

– End –

About Hitachi Energy

Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 38,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://twitter.com/HitachiEnergy

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers’ and society’s challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company’s consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

Attachments

Jocelyn Chang
Hitachi Energy Ltd.
+41 79384 7775
jocelyn.chang@hitachienergy.com

Movellus Secures $23M in Series B Funding to Accelerate Growth

MESH leads the round, with SK hynix joining as a strategic investor.

SAN JOSE, Calif., Sept. 20, 2022 (GLOBE NEWSWIRE) — Movellus, today announced the closing of a $23M Series B to accelerate the company’s growth. The funding will be used to expand R&D efforts and build out the marketing and sales functions to support the company’s growth plans. MESH and SK hynix joined existing investors Accelerate Blue Fund, Candou Ventures, Hui Capital, Intel Capital, In-Q-Tel, Michigan Capital Network, Stata Ventures, and other private investors in this round.

“We are extremely grateful to have MESH and SK hynix join our existing investors in this round, and welcome Edward Chyau and Heejin Chung to the board,” said Mo Faisal, CEO and founder of Movellus. “We were able to close the round with a significant step up in valuation in a challenging economic environment, and SK hynix’s strategic investment is a strong endorsement in our technology and long-term strategy.”

“SK hynix is pushing the envelope on memory performance, and looking beyond process improvements, to system level innovation in 3D packaging and chiplets to maintain the trajectory of the last 50 years,” said Heejin Chung, Head of Venture Investment at SK hynix. “Movellus’ clock network technology is an avenue to improve not only performance, but we also believe it will improve power and yield for memory and other complex ICs. We’re very excited to enable Movellus to accelerate the adoption of this technology.”

“As companies develop the next generation of complex ICs, new innovations are needed to unlock the power and performance potential of these designs. While the clock distribution network doesn’t get a lot of attention, it is the underlying backbone that orchestrates every chip,” said Edward Chyau, Managing Partner at MESH. “We believe Movellus has the expertise and technology in this field to help companies make dramatic system level improvements, and MESH will leverage its network in the electronics supply chain to support the proliferation of Movellus’ technology.”

Movellus is executing on its mission to enable the next generation of high-performance silicon through its Intelligent Clock Network™ platform that maximizes the potential of advanced silicon architectures. Multiple customers have already integrated this platform into their products in applications ranging from ultra-low power edge AI devices to performance centric cloud datacenter compute and AI offerings.

About Movellus
Movellus is a leader in Intelligent Clock Networks™. Customers integrate our products into an array of applications ranging from ultra-low power edge AI devices to performance centric cloud datacenter compute and AI offerings. Headquartered in San Jose with R&D centers in Michigan and Toronto, the team has introduced patented architectural innovations that significantly improve clock network performance, enabling the next generation of complex integrated circuits. Visit us at: www.movellus.com

Movellus, the Movellus logo, and Intelligent Clock Networks are among the trademarks of Movellus. The term “Movellus” refers to Movellus Circuits, Inc and/or its subsidiaries. Other trademarks are the property of their respective owners.

Press Contact
Aakash Jani
aakash@movellus.com
+1-503-545-6320

KCA Deutag & Eavor GmbH Sign Contract to Drill Revolutionary Geothermal Power Project

DÜSSELDORF, Germany, Sept. 20, 2022 (GLOBE NEWSWIRE) — Leading drilling, engineering and technology company KCA Deutag has announced that it has signed a contract with EAVOR ERDWÄRME GERETSRIED GmbH (“Eavor”) to provide two drilling rigs for the construction of Eavor’s first commercial Eavor-Loop™ system.

Drilling and facility construction work will commence on the project near the town of Geretsried, Germany in 2023. The Eavor-Loop™ system differs from conventional geothermal solutions as it uses conduction to retrieve heat from the earth’s subsurface, resulting in a long-term, reliable and independent supply of renewable and sustainable energy. The completely closed loop system provides a highly scalable and predictable source of heat and power without exploration risk.

The two KCA Deutag drilling rigs, which are expected to start work at the end of the second quarter, will drill separate wellbores which will intersect approximately 5000m underground, allowing the continuous circulation of water which will draw heat from the subsurface rock and bring the energy to surface. Once the first system is successfully completed, which is expected to take just under one year, a further 3 Eavor-Loops are planned, creating a total subsurface length of around 60km. It is a revolutionary design, with an estimated continuous output of up to 9 MWe and up to 65 MW thermal capacity in the first development phase with the possibility to heat or power ~30,000 homes or businesses.

Ron Klunder, Country Manager at KCA Deutag, commented: “This is an exciting project that uses proven drilling technology to enable new, innovative ways to create sustainable energy – very much in line with our goals to play our role in the energy transition. It will utilise the two largest rigs in our European fleet and we look forward to applying our expertise and innovative approach to addressing this new challenge over the coming months.”

Daniel Moelk, Country Manager at Eavor, stated that: “Our technology is based on highest standards of health, safety and performance-oriented drilling operations. We use it to scale up geothermal energy through the successful development of closed-loop systems and thereby making it a key technology for energy transition and energy security plans in the future. We are excited to be working with KCA Deutag, a highly experienced drilling company to demonstrate the commercial viability and sustainability of our technology, especially considering the uniqueness of the simultaneous operation of two land drilling rigs at the same location with intersected wellbores in a highly safe and predictable manner.”

About KCA Deutag

With over 130 years of experience, KCA Deutag is a leading drilling, engineering and technology company working onshore and offshore with a focus on safety, quality and operational performance. We operate approximately 81 drilling rigs in 14 countries, either directly or through our affiliates, employing people in Africa, Europe, the Middle East, the Caspian Sea and Canada. KCA Deutag consists of our business units: Land, Offshore and Kenera. Land and Offshore are our operational divisions delivering safe, effective, trouble-free operations across 20 countries. Kenera brings together our design and engineering specialists RDS and land rig and oilfield manufacturer Bentec under one business unit. Kenera was established to expand our offering in both hydrocarbons and energy transition markets, with three dedicated segments covering innovative services, technology and engineering, and manufacturing. For further information on KCA Deutag please visit www.kcadeutag.com

About Eavor GmbH

Eavor (pronounced “Ever”) is a technology-based energy company led by a team dedicated to creating a clean, reliable, and affordable energy future on a global scale. Eavor’s solution (Eavor-Loop™) represents the world’s first truly scalable form of clean, dispatchable, baseload capable, and flexible power. Eavor achieves this by mitigating or eliminating many of the issues that have traditionally hindered geothermal energy. Eavor instead circulates a benign working fluid that is completely isolated from the environment in a closed-loop, through a massive subsurface radiator. This radiator simply collects heat from the natural geothermal gradient of the Earth via conduction. Eavor has been supported by equity investments made by several leading global energy producers, investors, developers, and venture capital funds including bp, Temasek, Chevron Technology Ventures, BHP, Vickers Venture Partners, Helmerich & Payne, Precision Drilling and BDC Capital. For further information on Eavor, please visit https://www.eavor.com/ or https://eavor.de/

Contact Data
KCA Deutag Eavor GmbH
Becky Campbell Daniel Mölk
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Flood: Manufacturers, wholesalers, retailers allowed to keep extra stock – Rosol

KUALA LUMPUR, Sept 20 (Bernama) — Selected district producers, wholesalers and retailers nationwide are allowed to keep additional stock of 30 per cent of the permitted storage limit, in preparation for disasters and emergencies.

Deputy Domestic Trade and Consumer Affairs Minister, Datuk Rosol Wahid, said that the initiative is to ensure a sufficient supply of daily necessities and food when the country faces a flood disaster, which is expected to be more difficult this time.

“Close monitoring at the manufacturer, wholesaler and retailer levels nationwide is carried out to ensure sufficient supply, and facilitate immediate action in the event of supply disruption. This is an early preparation, so that when a disaster occurs, the people are not affected in getting essential goods.

“We not only monitor controlled items but also items that are in high demand during floods such as instant noodles, lamps, medicine, disposable diapers and so on,” he said at a press conference, after officiating the Love Local programme at a Petronas station in Kota Damansara, in conjunction with the Buy Malaysian Goods Campaign (KBBM), here today.

Rosol said that the effort will be carried out throughout the country, but the focus will be on locations where floods often occur, such as the east coast, and areas at risk of flooding.

“Areas that are not affected will also be monitored because right now it is difficult to predict the weather. In the past, in the months of November and December, Terengganu and Kelantan were flooded, but now other states are also flooded.

“This is an initial preparation so that problems related to supply of goods do not occur. We will hold a meeting with industry players soon, to structure a strategy to ensure sufficient supply of essential goods,” he said.

On Sept 18, the Domestic Trade and Consumer Affairs Ministry (KPDNHEP) established a special committee to deal with the flood season and a specific action plan has been drawn up by the committee to ensure sufficient food supply when a disaster occurs.

Source: BERNAMA News Agency