Category Archives: Featured News

SprintRay Introduces MIDAS Digital Press 3D Printer

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MIAMI, FL, Apr 24, 2024 – SprintRay, the leader in dental 3D printing, unveiled the company’s most significant innovation to-date to over 250 dental professionals at 3DNext, their summit in Miami. The Midas Digital Press 3D Printer is poised to not only transform dental restoration practices but also inspires an entirely new understanding of the future of 3D printing capabilities.

Midas changes the game for fabricating chairside restorations. It uses patent-pending Digital Press Stereolithography (DPS) to easily print highly viscous, ceramic-filled materials previously thought unprintable.

With Midas, SprintRay revealed the first and only Digital Press Stereolithography (DPS) technology and patent-pending Resin Capsule System, enabling the use of previously unworkable and highly viscous resins with 3D printing. The combined product and technology process sets an entirely new standard for what has been previously possible in 3D printing.

“Materials, more than anything, have dictated what is possible in the dental restoration field,” said Amir Mansouri, Ph.D., co-founder and CEO of SprintRay. “The introduction of Midas revolutionizes both the manner in which material is transformed and reveals an entirely new paradigm of what can actually be printed. Until now, materials like ceramics were too thick for traditional 3D printers to handle. Midas changes everything. Not only does this innovation handle today’s ceramic-based materials but sets the stage for future advances in composites and ceramics. We are on the brink of a new era in biomaterial innovation, and we’re thrilled to be leading the charge.”

The Midas Resin Capsule contains everything needed to print a restoration. The pressurized resin chamber houses viscous material that is pressed and dispensed into the build area using hydrodynamic principles. When finished, the build platform is extracted along with the printed restoration.

When Midas becomes available to dental professionals later this year, it will be the first truly new 3D printing methodology to be commercialized in four decades. Combined with SprintRay’s all-new AI Studio design software, chairside design and delivery of restorations will be a faster and more seamless experience than ever before.

Dr. Wally Renne, DMD, a global leader in digital dentistry and co-founder of MOD Institute, said, “SprintRay’s Midas, in my opinion, is the biggest breakthrough in dentistry since September 1985, when the first CEREC inlay was milled. SprintRay has invented a new way to 3D print called ‘digital press stereolithography,’ easily enabling the chairside fabrication of crowns, inlays, onlays and veneers. Their first Midas resin will have over 70% ceramic filler and can be printed in under eight minutes. And that’s just the beginning. Their announced partnership with Ivoclar for material development sets a tone for a very exciting future. Digital dentistry was just upended.”

Simultaneously print three ceramic composite crowns in <8 minutes. Midas sets a new standard for the chairside fabrication of restorations with lifelike aesthetics and outstanding mechanical properties. Midas can also print up to three full contour crowns, six inlays/onlays or nine ultra-thin veneers in a single job.

Digital Press Stereolithography, No Training, Zero Maintenance:

Midas and DPS eliminates viscosity limitations and creates a new platform for material innovation. The patented process removes the boundaries chemists have previously faced to change the mechanical properties and aesthetics of resin. Midas is the first 3D printer ever to use Digital Press Stereolithography (DPS), eliminating the need for large resin vats and other reusable parts. Utilizing a vacuum-sealed Midas Resin Capsule that can print up to three units in less than eight minutes, Midas delivers an incredibly clean, simple workflow without viscosity limitations.

The AI Design Studio:

Complementing the printer, SprintRay introduces AI Studio, a cloud-based design software that automates the creation of dental restorations. AI Studio integrates today with 3Shape, Dexis, and Medit scanners to give doctors the ability to edit and change the design including margin editing, positioning and adaptation adjustments, and edits to anatomy – all without requiring any CAD experience. A single click sends designs to Midas, including any STL design file from any dental design software or lab for maximum convenience.

“Midas has changed what we view as possible in 3D printed materials. This new open platform allows an entire industry of material science innovators to explore a new galaxy of solutions. Biomaterial has a very exciting future that is going to result in monumental benefits for our customers and patients alike,” said Ehsan Barjasteh, Ph.D., head of the SprintRay Biomaterial Innovation Lab.

Midas and AI Studio, combined with NanoCure, signify a monumental advancement in dental restoration manufacturing, characterized by speed, simplicity, and groundbreaking innovation in restorative materials. The waitlist for Midas is now open, with deliveries set to begin in Q4 2024. For more information visit sprintray.com

About SprintRay

SprintRay is a dental technology company that builds end-to-end 3D printing ecosystems for dental professionals. SprintRay designs and manufactures user-friendly and cutting-edge dental solutions including 3D printers and post-processing ecosystems, 3D printing software featuring AI technology, and innovative 3D resins. Dental care providers can deliver best-in-class service by leveraging SprintRay’s highly-specialized, affordable technologies.

For more information, visit https://sprintray.com/.

Modelithics EXEMPLAR Library for MATLAB Launched

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TAMPA, FL, Apr 24, 2024 – Modelithics, the leading independent provider of accurate RF/microwave models for multiple EDA simulation software tools, is pleased to launch the new Modelithics EXEMPLAR Library for MATLAB.

The release of the new Modelithics EXEMPLAR Library for MATLAB includes almost 50 Microwave Global Models representing nearly 3,500 components for many of today’s leading component suppliers, including Amotech, Coilcraft, Johanson, Kemet, Kyocera-AVX, Murata, Passive Plus, Presidio, and Vishay. The EXEMPLAR Library is designed to include models that run many example tutorial projects on the Modelithics website.

The Modelithics EXEMPLAR Library for MATLAB adds to Modelithics’ vast collection of highly accurate circuit simulation models. It expands the available resources to enable today’s design engineers to go from concept to product faster and more efficiently in MATLAB. Modelithics models are to be utilized within RF Toolbox, a MATLAB add-on from MathWorks, to build networks of RF components, such as filters, transmission lines, matching networks, amplifiers, and mixers. RF Toolbox provides functions, objects, and apps for designing, modeling, analyzing, and visualizing networks of radio frequency (RF) components. RF designers can use RF Toolbox and Modelithics EXEMPLAR library to develop wireless communications, radar, and signal integrity applications.

The Microwave Global Models for MATLAB include Modelithics’ advanced model features, including part value scalability, solder pad-size scaling, de-embedding, and substrate scaling. The part-value scalability of Microwave Global Models makes them ideal for tuning and optimization. Therefore, it is not necessary to manually substitute individual models during a design process. Modelithics Microwave Global Models also scale substrate characteristics, providing designers with a solution that extends beyond traditional solutions, like S-parameter files. While an S-parameter file only contains device measurements performed on one specific substrate, Modelithics microwave global models are valid over a continuous range of substrate properties determined by the substrates used in the model extraction process.

For more information regarding the new Modelithics EXEMPLAR Library for MATLAB, please review the v24.0 release notes. To request a free trial, visit Modelithics.com/MVP/MATLAB. The Modelithics EXEMPLAR Library is also free for qualified educational institutions for one year of renewable access through the Modelithics University Program. For more details on the Modelithics University Program, visit modelithics.com/home/university.

About Modelithics, Inc.

Modelithics, Inc. was formed in 2001 to address the industry-wide need for high accuracy RF and microwave active and passive simulation models for use in Electronic Design Automation (EDA). Modelithics’ premium product is the Modelithics COMPLETE Library, which includes the CLR Library, containing measurement-based Microwave Global Models for a multitude of commercially-available passive component families, as well non-linear diode models, non-linear transistor models, and system level component models. Modelithics’ services also address a wide range of custom RF and microwave measurement and modeling needs. Modelithics product offerings also include the Modelithics mmWave & 5G Library, Modelithics System Components Library the Modelithics COMPLETE+3D Library. Modelithics is a registered trademark of Modelithics, Inc. Microwave Global Models, System Components Library, and CLR Library are also trademarks of Modelithics, Inc. The Modelithics Vendor Partner (MVP) Program allows for collaboration and open communication during the development of advanced data sets and models for commercially available microwave components and devices, with flexible sponsorship and distribution arrangements for the resulting data and models. An example of such an arrangement is the Modelithics Qorvo GaN Library and the Modelithics MACOM GaN Library. Both of these vendor specific libraries are distributed for free by Modelithics under sponsorship of Qorvo and MACOM, respectively. Modelithics also offers a Standard & Custom Test Fixture and Accessory Product Line, including legacy parts from J Micro Technology for a family of thin film Alumina substrate components.

For more information, visit www.Modelithics.com.

About MathWorks

MathWorks is the leading developer of mathematical computing software. MATLAB, the language of engineers and scientists, is a programming environment for algorithm development, data analysis, visualization, and numeric computation. Simulink is a block diagram environment for simulation and Model-Based Design of multidomain and embedded engineering systems. Engineers and scientists worldwide rely on these products to accelerate the pace of discovery, innovation, and development in automotive, aerospace, communications, electronics, industrial automation, and other industries. MATLAB and Simulink are fundamental teaching and research tools in the world’s top universities and learning institutions. Founded in 1984, MathWorks employs more than 6,000 people in 34 offices around the world, with headquarters in Natick, MA, USA.

For additional information, visit mathworks.com.

Kalray Joins Arm Total Design

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GRENOBLE, France, Apr 24, 2024 – Kalray, a leading provider of hardware and software solutions to accelerate data intensive workflows from Cloud to Edge, announced that it has extended its collaboration with Arm by joining Arm Total Design. Through a deeper connection to industry leaders who are leveraging Arm Neoverse Compute Subsystems (CSS), Kalray can help more companies integrate its unique AI and data acceleration technology and help Arm ecosystem partners commercialize AI-based solutions in a fraction of the time and cost usually needed.

Arm Total Design helps accelerate and simplify the delivery of custom silicon based on Arm Neoverse CSS and has grown to more than 20 partners, including the top three leading foundries, ASIC design houses, IP vendors, EDA tool providers, and firmware developers who are driving leading-edge innovation.

Kalray is already working to integrate Arm Coherent Mesh Network (CMN) technology to help easily connect Kalray’s advanced AI and data processing acceleration solution to Arm Neoverse CSS.

As a member of the Arm Total Design ecosystem, Kalray can move swiftly with the latest Arm technologies and thus ease the access to Kalray’s advanced AI and data processing capabilities to adopters of Arm Neoverse technology – and in doing so, facilitate their rollout of AI across numerous use cases and industries.

“The proliferation of AI has led to an unprecedented demand for more compute power and flexibility, which is a driving force behind the momentum of Arm Neoverse in the data center and beyond,” said Eddie Ramirez, vice president of go-to-market, Infrastructure Line of Business, Arm. “Kalray is bringing its expertise in AI acceleration and efficient data processing to the Arm Total Design ecosystem, enabling partners to more easily integrate these capabilities as they build custom silicon solutions to maximize performance and efficiency.”

“AI workloads are exerting profound changes in the semi-conductor industry with their insatiable demand for data processing,” said Eric Baissus, Kalray CEO. “Kalray is proud to be among the best of the best in the industry as part of the Arm Total Design ecosystem. We look forward to helping more technology players to use the AI and data acceleration capabilities of Kalray’s DPU technology so they can deliver innovative AI processing solutions across the industry.”

About Kalray

Kalray is a technology innovator specializing in software and hardware solutions to accelerate data-intensive workflows in media & entertainment, high-performance computing, and artificial intelligence. Their comprehensive product range features ngenea, a leading data acceleration platform, as well as accelerated data processing cards for storage and compute.

With Kalray solutions, customers can scale their infrastructures to efficiently meet the performance and capacity needs of data-intensive tasks, all without being tied to specific data formats or vendors.

Founded in 2008 as a spin-off from the French CEA research lab, Kalray has corporate and financial backing from notable investors such as Alliance Venture (Renault-Nissan-Mitsubishi), NXP Semiconductors, and Bpifrance.

For more information, visit www.kalrayinc.com.

Aviko Launches Centric PLM

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to Replace Legacy System

CAMPBELL, CA, Apr 24, 2024 – Aviko, Europe’s largest producer of potato products, went live with Centric Software’s product lifecycle management (PLM) solution to support growth and manage product specifications. Centric Software provides the most innovative enterprise solutions to plan, design, develop, source and sell food & beverage and consumer products to achieve strategic and operational digital transformation goals.

Founded in 1962, Aviko has expanded to become one of the top five worldwide producers of chilled, frozen and dried potato products. Aviko operates in more than 110 countries and produces 25% of all french fries in Europe.  Aviko is backed by Dutch parent company Royal Cosun and is on a growth trajectory.

Aviko’s plans include strengthening their leadership position in Europe and expanding market share all around the world. Extending their product portfolio with value-added potato products is also part of the mix and they needed a robust PLM solution to achieve those goals.

Aviko’s legacy PLM was reaching its end of life and upgrading the system would have been costly and time-consuming. The PLM was heavily customized, functionality was limited and Aviko needed a solution that supports their growth and development.

“We needed a modern solution to support our growth plans, manage product specification processes and enhance customer service in multiple markets and regions,” says Maaike Renssen-Alberts, project manager at Aviko. “We specifically looked for a solution to automate manual work and to meet the demands of operating in 110 markets.”

After an extensive vendor evaluation process, Aviko chose Centric PLM to improve management of technical product data throughout the lifecycle and support the product packaging development process.

Centric PLM is now used by several teams at Aviko including quality, regulatory, packaging, commercial operations, innovation and procurement.

With the new PLM system, Aviko is streamlining all product related data. This makes it easier and quicker to access, update and share information about ingredients, additives, semi-finished products, packaging materials and products across the company’s departments and production plants.

Centric PLM also plays an important role in end-to-end packaging development, as the system holds all relevant labeling information for specific regions and channels to ensure quick generation of compliant labeling briefs. With PLM’s single data source, cross-functional teams will have full visibility of project progress, bolstering efficiency and internal collaboration on packaging and labeling briefs, artwork proofing and managing and sourcing packaging items.

“With Centric PLM’s ‘single source of truth,’ we can streamline notifications and changes in formulation, recipes and regulations across markets to ensure regulatory compliance and launch new product variations more quickly. We can also store supplier data, claims, certificates and contracts in one place,” explains Renssen-Alberts. “Aviko has entered a new and improved era of software user experience — PLM’s modern, easy-to-use and intuitive interface is making life easier for all of our teams.”

“We are thrilled that Aviko has chosen Centric Software as a digital transformation partner,” says Chris Groves, CEO of Centric Software. “We are delighted to be partnering with such an iconic and innovative company on their journey of growth across multiple markets.”

About Aviko

Aviko was founded by 32 potato growers in 1962 and has since grown to become a global player. In 2002 Aviko became part of Royal Cosun, a modern, future-oriented cooperative with over 8,400 growers. As Europe’s largest producer of potato products in out-of-home and one of the top five global market leaders, Aviko connects people, cultures and tastes by bringing joy to tables all over the world. With a portfolio of more than 100 distinctive potato products, Aviko operates in more than 110 countries. Aviko’s 2,500 colleagues are driven by the large potential of our products and the impact they have on quality, service, innovation and sustainability in our chain: ‘from farm to fork’.

For more information, visit corporate.aviko.com.

About Centric Software

Silicon Valley-based Centric Software provides an innovative product concept-to-customer platform for producers, brands and retailers of all sizes in the food & beverage industry, food service and grocery retail sectors. Centric Software works closely with customers to achieve more efficient project management and safer product development, execute a competitive retail and product strategy, increase agility, speed time to market and get closer to consumers, resulting in maximized revenues and margins.

Centric Software is a subsidiary of Dassault Systèmes, the world leader in 3D design software, 3D digital mock-up and PLM solutions.

For more information, visit www.centricsoftware.com.

Emerson Seeks Applications for Discrete Automation Scholarship

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Emerson is inviting US college students pursuing degrees in science, technology and engineering fields to apply for its 2024-2025 Discrete Automation Scholarship. Every year the merit-based award recognizes two ambitious problem-solvers with a $5,000 scholarship each, eligibility for an Emerson internship and $1,000 research grants to enhance their schools’ engineering programs. Applicants may apply through July 31, 2024.

Emerson’s scholarship rewards individuals pursuing STEM professions in fields such as engineering, instrumentation, systems, and automation that are critical to discrete automation applications. The financial support and recognition provided by the scholarship helps students with great potential emerge as leaders ready to shape their field.

In addition to sponsoring the scholarship program for over a decade, Emerson has also sponsored ground-breaking, student-led projects, and “We Love STEM” events that have reached thousands of students globally.

Only US citizens and legal US residents may apply. Eligible applicants will have completed at least the first year of a bachelor’s degree program or are enrolled in a graduate program at an accredited US educational institution of higher learning at the time of application.

Visit Emerson’s Discrete Automation Scholarship program details page to apply.

About Emerson

Emerson, headquartered in St. Louis, MO (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. For more information, visit Emerson.com.

ASME Foundation Honors Industry Leaders

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NEW YORK, NY, Apr 23, 2024 – The ASME Foundation, the philanthropic arm of The American Society of Mechanical Engineers (ASME), convened more than 250 industry and community leaders and STEM advocates to celebrate the promise of a diverse engineering workforce at its “Optimism Engineered: Empowering Future Visionaries” GALA 2024, held April 11 at the Mandarin Oriental, New York.

Pictured above, left to right: Autodesk President and CEO Andrew Anagnost, recipient of the ASME Foundation Excellence in Industry Award; Sylvia Acevedo, former CEO of Girl Scouts of America, former NASA Engineer, and recipient of the ASME Foundation Next Gen Award; and ASME Executive Director/CEO Tom Costabile

Highlights of the event included two award presentations and several inspirational speakers. The Foundation presented its Next Gen Award to Sylvia Acevedo, for her “exemplary work in engineering and technology, extraordinary leadership in bringing diversity to STEM, and commitment to advancing young women in technology fields.” Acevedo is a former CEO of Girl Scouts of America and former NASA Engineer, an author, entrepreneur, investor, thought leader and speaker on topics ranging from education and STEM to demographic trends, and leadership. The Excellence in Industry Award was presented to Autodesk President and CEO Andrew Anagnost, whose career spans more than 25 years of product, business, and marketing experience focused on driving strategy, transformation, and product development, and who was recognized for his “commitment to advancing engineering and next generation engineers, for support of equity in engineering and sustainability for the world.” Gala attendees also learned more about the Autodesk-sponsored ASME E-Fest Extended Reality Challenge, in which engineering students developed and tested sustainable solutions to clean up the oceans using Autodesk’s Fusion design software.

Pictured above: Keith Roe, third-generation ASME member, past president of ASME, and current chair of the ASME Foundation Philanthropy Committee, introduces GALA 2024 host Michelle Miller, award-winning journalist and co-host of CBS Saturday Morning.

“With this first-ever major industry event, the ASME Foundation celebrates its progress toward our philanthropic goals of equity in engineering and sustainability for the world,” said ASME executive director/CEO Tom Costabile. “It’s gratifying to see so many of our committed members, donors, and partners step up in support of our mission to advance engineering for the benefit of humanity.”

Pictured above, left to right: Abby Jo Sigal, executive director of the New York City Mayor’s Office of Talent and Workforce Development; ASME Executive Director/CEO Tom Costabile; and Ariel Marroquin, a student at New York City College of Technology (City Tech).

Attendees included current and prospective donors to The ASME Foundation’s Campaign for Next Generation Engineers, ASME’s five-year, $50 million capital campaign to support its philanthropic work. The Foundation funds ASME’s array of high-impact programs in education, workforce development, and innovation support aimed at increasing equity in the engineering profession and advancing the United Nations Sustainable Development Goals.

“Optimism Engineered is more than a slogan; it’s an affirmation of our belief in the promise of diverse next generation engineers to innovate solutions to our most urgent sustainability challenges,” said Stephanie Viola, executive director of the ASME Foundation and managing director of ASME Philanthropy. “Publicly acknowledging engineering visionaries with prestigious ASME Foundation awards, and raising funds to drive our philanthropic programs, are just two of the ways we’re empowering tomorrow’s engineers to build a better future for all of us.”

Autodesk and the Kenneth & Hazel Roe Family Fund were Changemaker sponsors of this event. Innovator and Accelerator sponsors included Accuris/KKR, Ansys, Focused Wealth Management, and King & Spalding LLP.

About ASME

ASME helps the global engineering community develop solutions to real world challenges. Founded in 1880 as the American Society of Mechanical Engineers, ASME is a not-for-profit professional organization that enables collaboration, knowledge sharing, and skill development across all engineering disciplines, while promoting the vital role of the engineer in society. ASME codes and standards, publications, conferences, continuing education, and professional development programs provide a foundation for advancing technical knowledge and a safer world. In 2020, ASME formed the International Society of Interdisciplinary Engineers (ISIE) II & III LLC, a new for-profit subsidiary to house business ventures that will bring new and innovative products, services, and technologies to the engineering community.

For more information, visit www.asme.org.

About the ASME Foundation

The ASME Foundation is the philanthropic arm of the American Society of Mechanical Engineers, supporting an array of programs in three core pillars: engineering education, career engagement, and global development. With the goal of empowering tomorrow’s technical workforce, the ASME Foundation advances equitable access both to professional opportunities and to engineering innovations that improve quality of life.

For more information, visit www.asmefoundation.org.

Cellares Launches Cell Q

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SOUTH SAN FRANCISCO, CA, Apr 23, 2024 – Cellares, the first Integrated Development and Manufacturing Organization (IDMO) dedicated to clinical and industrial-scale cell therapy manufacturing, today unveiled Cell Q, the first automated quality control (QC) workcell for cell therapy manufacturing. Cell Q addresses a critical challenge: the manual, labor-intensive, low-throughput, and expensive nature of cell therapy QC. Exclusive to Cellares’ industry-first IDMO Smart Factories, Cell Q will offer a substantial improvement in throughput, cost, and reproducibility compared to existing manual QC methods.

First cGMP Cell Q system for automated in-process and release QC of up to 6,000 cell therapy batches per year.

As Cellares Cell Shuttles have addressed upstream bottlenecks in cell therapy manufacturing, Cell Q resolves the downstream QC capacity challenges. Cell Q is engineered to automate the vast majority of cell therapy QC assays for up to 6,000 batches per year. To accelerate analytical method transfer and shorten the time to clinical readout for new IDMO clients, Cell Q includes a pre-qualified set of the most common assays. Additionally, each Cell Q utilizes a modular platform that can be expanded with new instruments providing the flexibility needed to meet varying IDMO client needs.

Setting a new standard in the industry, Cellares is the only IDMO to offer the same unprecedented capacity for upstream cell therapy manufacturing as well as downstream QC via its South San Francisco Center of Excellence and Smart Factory in Bridgewater, NJ. Additional Smart Factories will be coming soon to the EU and Japan.

“Cell Q was designed to match the throughput of our Cell Shuttle platform. This enables the Cellares IDMO to offer a real end-to-end solution for our customers, providing 10 times higher capacity and up to 50% lower batch price,” said Fabian Gerlinghaus, CEO of Cellares. “Our proprietary platform technologies support our mission of becoming the de facto standard for cell therapy manufacturing, accelerating access for patients, and meeting the total patient demand for cell therapies globally.”

To learn more about how Cell Q enriches Cellares’ IDMO ecosystem and how it alleviates the QC bottleneck for cell therapies, please visit cellares.com/technology.

About Cellares

Cellares is the first Integrated Development and Manufacturing Organization (IDMO) and takes an Industry 4.0 approach to mass manufacturing the living drugs of the 21st century. The company is developing and operating integrated technologies for cell therapy manufacturing to accelerate access to life-saving cell therapies. The company’s Cell Shuttles integrates all the technologies required for the entire manufacturing process in a flexible and high-throughput platform that delivers true walk-away, end-to-end automation. Cell Shuttles and Cell Qs will be deployed in Cellares’ Smart Factories around the world to meet total patient demand for cell therapies at global scale. Partnering with Cellares enables academics, biotechs, and pharma companies to accelerate drug development and scale out manufacturing, lower process failure rates, lower manufacturing costs, and meet global patient demand.

The company is headquartered in South San Francisco, CA with its commercial-scale IDMO Smart Factory in Bridgewater, NJ. The company is backed by world-class investors and has raised over $355 million in financing.

For more information about Cellares, please visit cellares.com.

Velo3D Announces Executive Leadership Changes

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Appoints Hull Xu as Chief Financial Officer

CAMPBELL, CA, Apr 23, 2024 – Velo3D, Inc., a leading metal additive manufacturing technology company for mission-critical parts, announced changes to its leadership structure as well as that its re-alignment initiatives to maximize cash flow and operational efficiency remain on plan.

The company has appointed Hull Xu as its new chief financial officer, replacing acting CFO Bernard Chung, who will leave the Company on April 29, 2024 following the acceptance of another opportunity. Mr. Xu brings more than 15 years of corporate finance experience in the technology industry, most recently with Cepton, Inc. as chief financial officer as well as significant capital markets and investment banking experience at the Royal Bank of Canada, Barclays Capital, and GE Capital. He will be responsible for the company’s finance, accounting, treasury, corporate development, and investor relations activities. Mr. Xu holds an M.B.A. from the Haas School of Business at the University of California, Berkeley, an M.S. in Electrical Engineering from Stanford University and a B.S. in Electrical Engineering from the University of California, Davis.

Additionally, Michelle Sidwell, the company’s executive vice president of global sales and business development has been appointed to the newly created position of chief commercial officer to unify sales, product strategy, and the company’s customer service initiatives. She will now oversee the company’s sales, marketing, customer service and business development organizations. The company also announced that Renette Youssef, chief marketing officer, will be leaving the company to pursue other opportunities.

“We are excited to announce the appointment of Hull as chief financial officer. He is a highly accomplished financial executive who brings more than 15 years in financial, operating and capital market experience to Velo3D and his knowledge will be critical in the execution of our strategic priorities,” said Brad Kreger, CEO of Velo3D. “I would also like to thank Bernie for his dedication and guidance, especially over the last 6 months, as we positioned the Company for future success and wish him the best of luck in his future endeavors.”

“Additionally, we are also pleased to announce the appointment of Michelle Sidwell as our chief commercial officer. Michelle has been instrumental in rebuilding our bookings pipeline in addition to working tirelessly to improve the success of our customers. We believe that by combining all customer facing responsibilities into one organization, we will improve organizational efficiency, accelerate our ability to respond to customer feedback and provide a comprehensive go to market approach.”

“Overall, I am very pleased with our strategic initiative execution so far this year. We are successfully rebuilding our backlog and pipeline as we booked $27 million in new orders since mid-December 2023. Also, our efforts to improve system reliability are paying off as we are seeing increased orders from existing customers while rapidly expanding our footprint in the defense sector. Finally, we are continuing to execute on our cost realignment programs to improve margins and cash flow.”

About Velo3D

Velo3D is a metal 3D printing technology company. 3D printing, also known as additive manufacturing (AM), has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.

Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy, and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The fully integrated solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named as one of Fast Company’s Most Innovative Companies for 2023.

For more information, please visit Velo3D.com.

CoStar Group to Acquire Matterport

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SUNNYVALE, CA, Apr 23, 2024 – Matterport, Inc., The spatial data company leading the digital transformation of the built world, announced today that it has entered into a definitive agreement with CoStar Group, Inc., a leading provider of online real estate marketplaces, information and analytics in the property markets, pursuant to which CoStar Group will acquire all outstanding shares of Matterport in a cash and stock transaction valued at $5.50 per share, representing an equity value of approximately $2.1 billion and an enterprise value of approximately $1.6 billion based on the closing price for CoStar Group common stock on April 19, 2024. Under the terms and subject to the conditions of the agreement, which has been unanimously approved by Matterport’s Board of Directors, Matterport stockholders will receive $2.75 in cash and $2.75 in shares of CoStar Group common stock for each share of Matterport common stock.

Founded in 2011, Matterport pioneered the development of the first 3D capture solution to deliver dimensionally accurate, photorealistic virtual tours or “digital twins” for any type of property. Matterport’s proprietary and patented technology enables anyone to digitize a property using a variety of camera technologies including cameras found on most smartphones. Matterport also produces a line of innovative 3D capture devices, including the company’s flagship LiDAR-based Pro3 camera which is capable of high-precision indoor and outdoor capture. At the center of the solution is Cortex, a powerful artificial intelligence software engine that automatically generates the 3D digital twin and virtual tour while providing property insights like detailed property dimensions, room layouts, and more.

Matterport’s 3D technology is utilized in nearly every sector of real estate, spanning residential, commercial, hospitality, retail, and industrial spaces, among others. Over the years, Matterport has curated what is considered the largest and most precise collection of spatial property data worldwide, with over 12 million spaces captured in 177 countries, and representing more than 38 billion square feet of digital property under management. Contributing to this growth, Matterport has established a global network of several thousand photographers, capture services technicians, and service partners producing hundreds of thousands of new 3D digital twins for properties each month.

CoStar Group operates some of the most effective and widely recognized real estate information solutions and online property marketplaces in the world including Apartments.com, LoopNet, CoStar, and Homes.com, all of which feature Matterport’s 3D virtual tours. CoStar Group was one of the first adopters of Matterport’s technology, and currently has almost 300,000 Matterport digital twins available in the CoStar information product and online property marketplaces. Advertisers on CoStar Group marketplaces clearly recognize the value of Matterport virtual tours. In March 2024, there were over 7.4 million views of Matterport 3D Tours on Apartments.com, with consumers spending 20% more time viewing an apartment listing when Matterports were available. CoStar Group intends to utilize Matterport in a similar fashion on Homes.com to further enhance the most comprehensive agent, seller and buyer friendly residential portal on the market.

“CoStar Group and Matterport have nearly identical mission statements of digitizing the world’s real estate. I look forward to welcoming Matterport to the CoStar Group family and believe that we will be stronger together, in pursuit of our common mission,” said Andy Florance, founder and CEO of CoStar Group. “The world has changed and today a Matterport is the new open house or property tour. People now select their next home, apartment, office, store, hotel, or warehouse on their mobile device often without ever visiting the property. There is no better way to remotely experience space than via Matterport. CoStar Group intends to support and invest in research and development opportunities to further develop Matterport’s spatial technology, including the application of AI and machine learning to extract information from the 3D spatial data library as well as using generative artificial intelligence to imagine and reimagine physical spaces.”

RJ Pittman, chair and CEO of Matterport said, “We are thrilled to join forces with CoStar Group, a long-standing customer and partner with a shared vision for transforming global real estate through technology and digitization. This transaction is another significant milestone that acknowledges the groundbreaking work Matterport has accomplished in 3D digital twin technology and AI-driven property intelligence. With CoStar Group’s expansive reach and scale in property research and analytics and our joint commitment to innovation, we believe that this powerful combination will transform how properties are marketed, sold, and managed worldwide. Importantly, it offers Matterport’s stockholders the opportunity to participate in the value creation and future growth prospects of our combined efforts.”

The transaction, which is expected to be completed during the year, is subject to the approval of Matterport stockholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. Directors, officers and certain other stockholders of Matterport, representing approximately 15% of Matterport’s fully diluted shares, have entered into voting agreements to support the transaction. The transaction is subject to a 10% symmetrical collar based on a CoStar Group share price of $86.02 as the midpoint.

About Matterport

Matterport, Inc. (NASDAQ: MTTR) is the World’s #1 Digital Twin Platform* leading the digital transformation of the built world. Our groundbreaking platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.

*Largest digital twin cloud hosted platform for the built world sq. ft. scanned. Data on file.

About CoStar Group, Inc.

CoStar Group is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 160 million unique monthly visitors in September 2023. Headquartered in Washington, DC, CoStar Group maintains offices throughout the US, Europe, Canada, and Asia.

Creaform Introduces HandySCAN BLACK+|Elite

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Creaform, a business of AMETEK, Inc. and worldwide provider of automated and portable 3D measurement solutions, unveils its next-generation scanners with the introduction of the HandySCAN BLACK+|Elite, and the complete redesigned of the HandySCAN SILVER and HandySCAN SILVER|Elite. These latest iterations of the BLACK and SILVER Series promise superior precision as well as enhanced user experience.

The new HandySCAN BLACK+|Elite provides a superior level of accuracy through the use of the Accu+ Kit, enabling the user to confidently rely on an optimized volumetric accuracy of 0.020mm+0.015mm/m. Boasting the new Flex Volume, it provides a greater scanning measurement volume, and allows for an adjustable scanning distance that is simple to use, from near (200 mm) to far away (700 mm). Leveraging its newly acquired certifications, the BLACK Series also ensures precision and measurement reliability through its VDI/VDE 2634 part 3 and ISO 10360-based sensor acceptance tests in its ISO/IEC 17025-2017 accredited laboratories, underscoring Creaform’s commitment to rigorous performance evaluation and quality assurance.

As for the newly revamped SILVER Series, it emerges as a transformative tool in product development. With a new ergonomic aesthetic, its heightened resolution catering to intricate details, versatile scanning capabilities accommodating various surface types, and user-friendly design accessible to all, the SILVER series still offers the most value for money. Without compromising affordability, it integrates the cutting-edge advancement of the BLACK Series, leveraging a proven design, compatibility with the recently launched Automation kit and benefiting from exceptional customer service and worldwide support.

About Creaform

Headquartered in Lévis, Québec, Creaform is present in more than 85 countries, through its 26 locations all around the world and a network of over a hundred distributors. A presence that enables the company to build relations and provide unmatched customer service. Creaform is a business unit of AMETEK, Inc., a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annual sales of over $7.0 billion.

For more information, visit creaform3d.com.