AVL Partners with Red Bull Advanced Technologies

GRAZ, Austria and MILTON KEYNES, UK, May 2, 2024 – Mobility technology company AVL is partnering with Red Bull Advanced Technologies, the high-performance arm of Red Bull Racing Group, to develop the next generation of ultra-high-power density fuel cell technology. This collaboration combines AVL’s industry leading portfolio of PEM fuel cell technology and Red Bull’s winning technologies and novel methodologies in lightweight design, construction, and aerodynamics. This project is expected to deliver a fuel cell system for high performance application that exceeds those currently available globally. Joint investigations indicate that upon successful completion, dramatic improvements in gravimetric power density can be achieved with values towards 6kW/kg on stack level and 2kW/kg on fuel cell system level. This technology has the potential to result in the world’s highest gravimetric power density PEM fuel cell system.

The solutions to be achieved will be a significant milestone in net-zero carbon technology innovation, enabling sectors such as aerospace, future motorsport series, and a multitude of other maximum payload applications to have the power density figures required in hydrogen mobility.

Rob Gray, technical director, Red Bull Advanced Technologies: “We are delighted to be working with AVL on this collaboration to increase fuel cell power density and thus improve performance. It goes to show how beneficial the application of cutting edge F1 inspired engineering can be with solving real-world problems.”

Jürgen Rechberger, vice president, AVL: “We are very proud to be working closely with Red Bull. This partnership will combine the knowledge and experience of our experts, allowing us to improve the gravimetric power density of our fuel cell technology by a factor of three and hence meet the requirements of high-performance applications like aviation and racing.”

About AVL

With more than 12,200 employees, AVL is one of the world’s leading mobility technology companies for development, simulation, and testing in the automotive industry and in other sectors such as rail, marine, and energy. Based on extensive in-house research activities, AVL delivers concepts, technology solutions, methodologies, and development tools for a greener, safer, and better world of mobility and beyond.

AVL supports international partners and customers in their sustainable and digital transformation. The focus lies on the areas of electrification, software, AI and automation. In addition, AVL supports companies in energy-intensive sectors on their way to a greener and more efficient energy generation and supply.

Innovation is AVL’s passion. Together with an international network of experts at more than 90 locations and 45 Tech and Engineering Centers worldwide, AVL is driving the future of mobility. In 2023, the company generated a turnover of 2.05 billion Euros, of which 10 % are invested in R&D activities.

For more information, visit www.avl.com.

About Red Bull Advanced Technologies

Red Bull Advanced Technologies was formed in 2014 with the remit to apply aspects of F1 technology to other challenges, both in motorsport and the wider world. With an aim to position Red Bull Advanced Technologies as the leading competitor in technology solutions, they bring exceptional engineering, design, technology, simulation and production capabilities to a hugely diverse set of industries, helping to create a smarter, better future. From human powered machines to hypercars and everything in between including submersibles, flying machines and future mobility solutions, with Red Bull Advanced Technologies, the possibilities are limitless.

Altair Acquires Research in Flight

TROY, MI, May 2, 2024 – Altair a global leader in computational intelligence, announced it has acquired Research in Flight, maker of FlightStream, which provides computational fluid dynamics (CFD) software with a large footprint in the aerospace and defense sector and a growing presence in marine, energy, turbomachinery, and automotive applications.

FlightStream is a user-friendly, yet powerful flow solver that bridges the gap between high-fidelity CFD simulations and the needs of engineers and designers. Its exceptionally fast computational speeds and low hardware footprint, coupled with a streamlined user interface and robust aerodynamic solver, make it an invaluable tool for early-stage rapid design iterations and in-depth aerodynamic studies for aerospace and defense applications and beyond. FlightStream can capture subsonic to supersonic flows, including compressible effects and a unique surface vorticity capability. It leverages the strengths of panel method flow solvers and enhances them with modern computational techniques to provide a fast solver capable of handling complex aerodynamic phenomena.

“Our growth in the aerospace, defense, and surrounding industries has accelerated in recent years through our best-in-class computational intelligence solutions,” said James R. Scapa, founder and chief executive officer, Altair. “The integration of FlightStream into our portfolio will enhance our offering with its specialized, modern, and efficient approach to meet the increasingly complex customer demands in these industries, including the urban air mobility and eVTOL sectors.”

FlightStream allows for the rapid analysis of unconventional aircraft using a unique surface vorticity, flow-separation, and viscous analysis capability for both powered and unpowered configurations. It is augmented with integral boundary layer modeling, enabling users to capture viscous effects with a level of detail that is uncommon in traditional panel method applications. This integration facilitates a more comprehensive analysis of aerodynamic performance, providing insights that are crucial for design optimization.

“We are proud to be a standard tool in the aircraft designer’s toolbox,” said Vivek Ahuja, co-founder, Research in Flight. “Joining Altair will allow us to scale and reach countless engineers seeking best-in-class, powerful, and specialized tools for faster design iterations.”

In addition to Ahuja, Research in Flight was co-founded by Roy Hartfield who has dedicated more than 30 years to the study of aerodynamics, propulsion, statistical analysis of air vehicles, and aircraft research. Hartfield is an aerospace engineering professor at the Samuel Ginn College of Engineering at Auburn University.

FlightStream is a United States Air Force network-approved software and is also used at NASA Ames and Langley Research Centers, as well as by the US Army. It will be integrated into the Altair HyperWorks design and simulation platform and be available via Altair Units.

About Altair

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future.

To learn more, please visit www.altair.com.

Tech Soft 3D Acquires Actify SpinFire Business

BEND, OR, May 2, 2024 – Tech Soft 3D, the leading provider of engineering software development toolkits, announces that it has acquired the Actify core business including SpinFire, CAD Publisher and Centro from Actify, Inc., a leading force in advanced CAD viewing and collaboration technology. This strategic move underscores Tech Soft 3D’s commitment to accelerate growth, as it establishes an End-User Solutions division and broadens its product portfolio through further acquisitions.

Industrial designer has conversation with senior engineer while working in CAD program, designing new component. He works on personal computer with two monitors.

Actify SpinFire is a powerful CAD viewer and collaboration tool supporting more than 20 standard CAD formats for 3D and 2D viewing, measuring, and markup capabilities for companywide departments including project managers, development, engineers, procurement, sales, supply chain and quality assurance teams.

Ron Fritz, CEO of Tech Soft 3D, commented on the acquisition, stating, “Actify has been a long-term user of our HOOPS technology, and we share the common objective of unlocking the true value of 3D CAD files for manufacturing enterprises and their supply chains. SpinFire has established a strong market position, and we are enthusiastic about leveraging our extensive expertise to enhance collaboration across engineering teams, particularly in handling feedback and client change requests.”

While Tech Soft 3D remains dedicated to providing core intellectual property to developers, the SpinFire team will continue its commitment to delivering future products and providing top-tier support to customers and the global reseller network.

Dave Opsahl, CEO of Actify Inc., expressed confidence in the collaboration, stating, “Over the years, Actify has harnessed the power of core component technologies from Tech Soft 3D. They are engineering innovators, and our teams are well acquainted with each other’s code base and working practices. I am confident about what we can achieve together.”

This acquisition marks a significant step for Tech Soft 3D, reinforcing its position as a leader in engineering software development and enhanced solutions in the CAD viewing, CAD data translation, and collaboration space.

Details of the acquisition are not disclosed. Tech Soft 3D is backed by global, technology-focused investment firm Battery Ventures.

About Tech Soft 3D 

Tech Soft 3D is the leading provider of engineering software development toolkits. Established in 1996 and headquartered in Bend, OR, Tech Soft 3D also has offices in California, France, England, Japan and Norway. The company’s toolkit products power more than 700 unique applications running on hundreds of millions of computers worldwide. Tech Soft 3D is backed by investment firm Battery Ventures.

For more information, visit www.techsoft3d.com.

About Actify

For 15+ years, Actify has been helping manufacturers to visualize and interact with design and engineering information. Actify serves a global base of more than 2,000 companies of whom approximately 85% are suppliers to the auto industry. Actify is headquartered in Detroit, Michigan with sales and support in 45 countries through its offices in the United States, United Kingdom, Germany, and a global network of partners.

For more information, please visit www.actify.com.

FARO Q1 Revenue Down 15% to $84M with $7M Loss

LAKE MARY, FL, May 2, 2024 – FARO has announced its financial results for the first quarter ended March 31, 2024. Revenue for the first quarter of 2024 was $84.2M, 14.8% down compared to $98.8M for the fourth quarter ended December 31, 2023. Net loss was $7.3M.

Comparative analysis based on FARO’s financial results in the last 12 quarters (Result source FARO website)

Comparative analysis based on FARO’s financial results in the last 12 quarters (Result source FARO website)

“We’re pleased with our strong start to the year, with our first quarter financial performance providing a solid foundation from which we expect to continue to invest in our strategic initiatives within our core markets,” said Peter Lau, president & chief executive officer. “GAAP loss per share of $(0.38) and non-GAAP EPS of $0.09 exceeded the high end of our guidance range. GAAP net loss of $7.3 million and Adjusted EBITDA of $5.6 million, or 6.6% of revenue, demonstrates the progress we continue to make towards our aspirational financial goals. In addition, we again expanded our cash position by generating $6.6 million of operating cash flow in the quarter, driven by profitability and efficiencies in working capital.”

A complete chart of the financial results is available here.

About FARO

For 40 years, FARO has provided industry-leading technology solutions that enable customers to measure their world, and then use that data to make smarter decisions faster. FARO continues to be a pioneer in bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy.

For more information, visit www.faro.com.

PTC Q2 Revenue Up 19% to $603M with $114M Profit

BOSTON, MA, May 2, 2024 – PTC reported financial results for its second fiscal quarter ended March 31, 2024. This quarter’s revenue stood at $603.07M, up 19.2% compared to $506.6M of first fiscal quarter of 2024, with a profit of $114.4M.

Comparative analysis based on PTC’s financial results in the last 12 quarters (Result source PTC website)

Comparative analysis based on PTC’s financial results in the last 12 quarters (Result source PTC website)

“Our ARR and free cash flow results in Q2’24 were solid in a challenging selling environment, driven by the resilience of our subscription business model, consistent execution, operational discipline, and the actions we have taken over time to align our investments with market opportunities. We continue to rapidly de-lever, and our debt to EBITDA ratio was 2.3x at the end of Q2’24,” said Kristian Talvitie, CFO.

“Reflecting our year-to-date performance and our outlook for the second half, we are narrowing the range of our FY’24 constant currency ARR guidance and maintaining our FY’24 free cash flow guidance. For Q3, the ARR guidance range is 11 to 12 percent growth, with free cash flow of approximately $220 million. It’s worth noting that we are updating our FY’24 revenue and EPS guidance consistent with our updated ARR guidance range and also due to the impact of FX. We believe we have set our Q3’24 and FY’24 guidance appropriately,” concluded Talvitie.

A complete chart of the financial results is available here.

About PTC

PTC is a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products that the world relies on. Headquartered in Boston, MA, PTC employs over 7,000 people and supports more than 25,000 customers globally.

For more information, please visit www.ptc.com.

Ansys Q1 Revenue Down 42% to $467M with $35M Profit

PITTSBURGH, PA, May 2, 2024 – Ansys announced financial results for the first quarter of 2024. Revenue for the fourth quarter of 2023 was $466.6M, 42% down compared to $805.1M for the fourth quarter of 2023. GAAP net income was $34.7M.

Comparative analysis based on Ansys’s financial results in the last 12 quarters (Result source Ansys website)

Comparative analysis based on Ansys’s financial results in the last 12 quarters (Result source Ansys website)

A complete chart of the financial results is available here.

About Ansys

When visionary companies need to know how their world-changing ideas will perform, they close the gap between design and reality with Ansys simulation. Founded in 1970, Ansys is headquartered south of Pittsburgh, PA, USA. For more than 50 years, Ansys software has enabled innovators across industries to push boundaries by using the predictive power of simulation. From sustainable transportation to advanced semiconductors, from satellite systems to life-saving medical devices, the next great leaps in human advancement will be powered by Ansys.

Visit www.ansys.com for more information.

Razorleaf Becomes Fuuz Implementation Partner

STOW, OH, May 1, 2024 – Razorleaf Corp., a leading PLM and MES consulting and systems integrator, is pleased to announce that it has become a Fuuz Implementation Partner.

The Fuuz MES Platform enhances manufacturing operations through a web-enabled platform where connectivity meets the digital thread. The solution supports all manufacturing processes and features pre-built integrations for business software and modules for Warehouse Management, Quality Management, Advanced Production Scheduling, Computerized Maintenance, and Transportation Management. These features, combined with no-code, low-code and pro-code tools and ultra-secure multi-enterprise infrastructure, make the Fuuz MES Platform the optimal solution for manufacturers striving to streamline operations and accelerate their digital initiatives.

According a report from Markets and Markets, the global MES software market is experiencing rapid growth amid strong demand for industrial automation and operational efficiency as manufacturing operations becoming increasingly complex. The market was valued at an estimated USD $14.9 billion in 2024 and is expected to expand at a CAGR of 9.2% to reach USD $23 billion by 2029.

“Fuuz has experienced rapid growth over the last couple of years as more manufacturers recognize the value of extending their enterprise software with a comprehensive manufacturing platform,” said Craig Scott, founder and CEO of Fuuz. “Our partnership with Razorleaf will support both existing and new customers with end-to-end operational visibility, process automation, and rapid digital-transformation capabilities.”

“Our new partnership with Fuuz enables us to support its rapid growth by delivering implementation services for their customers as they adopt advanced MES capabilities on the shop floor,” said Eric Doubell, CEO of Razorleaf. “In addition, we can assist Fuuz customers with ensuring their MES data supports other digital transformation efforts with integration strategies for managing both engineering and production data.”

“We have always been focused on helping manufacturers leverage technology to improve the flow of data and enable Industry 4.0 connectivity,” added Scott “Fuuz delivers Industrial Internet of Things (IIoT) capabilities to our customers. It allows manufacturers, both large and small, to be resilient and fleet-footed during tough times, but also enables them to meet the ongoing challenge of continuous growth and profitability.”

About Razorleaf

Founded in 2000, Razorleaf is a consulting & systems integrator with specialized expertise in PLM, MES, integration, migration, design automation and test automation. They are focused on helping manufacturing organizations connect products and processes across the digital enterprise to drive more value from the innovation process. Led by a highly skilled and seasoned team of experts across the United States, Europe, and Asia, Razorleaf transforms businesses by offering comprehensive consulting and implementation services focused on managing the digital thread across the product life cycle and supply chain.

For more information, visit www.razorleaf.com. 

About Fuuz

Fuuz by MFGx is a next-gen manufacturing execution system (MES) platform designed for companies seeking full operational visibility, process automation, and rapid digital transformation. With pre-built manufacturing modules, seamless integrations to all business systems, and over 20 years of proven expertise, Fuuz stands as the optimal solution for manufacturers aiming to streamline operations and accelerate their digital evolution. Customers span all manufacturing verticals and include Inteva Products, American Axle & Manufacturing, Olde Thompson and Sanders.

Explore the future of manufacturing at fuuz.com.

ITRI, Arm Launch Certification Center for AIoT Applications

HSINCHU, Taiwan, May 1, 2024 – The Industrial Technology Research Institute (ITRI) has established the ITRI・Arm SystemReady Lab in Taipei, in partnership with Arm, the global semiconductor and software design company. This certification center is the fourth of its kind globally, following the ones in the United States, Europe, and India. The lab combines ITRI’s R&D strengths with the Arm SystemReady compliance program to deliver comprehensive certification services for the AIoT industry. This initiative is poised to drive Taiwan’s industrial integration of AI and IoT ecosystems.

ITRI and Arm celebrate the establishment of the ITRI・Arm SystemReady Certification Center in Taiwan.

Pei-Zen Chang, ITRI’s executive vice president, elaborated on the genesis of this partnership: “In 2021, ITRI and Arm jointly established a new IC design platform for startups, which not only facilitated startups in integrating key IPs to accelerate the launch of globally competitive products but also bolstered Taiwan’s IC design industry’s global market share. ITRI has again joined forces with Arm to establish the lab, which is expected to closely mesh Taiwan’s semiconductor supply chain with Arm’s global ecosystem, ensuring the high quality of Taiwan’s equipment manufacturers’ products while adhering to international standards.”

“Arm is the world’s most pervasive computing platform, and this new collaboration with ITRI demonstrates our commitment to the Taiwan market,” said CK Tseng, president of Arm Taiwan. “Through the Arm SystemReady Labs already in operation, globally, we have achieved over 130 certifications, and with this fourth lab, we aim to further advance not just Taiwan’s but Asia’s AIoT industry, particularly in device manufacturing, through standardization. We look forward to further collaboration with ecosystem partners like ITRI as we build the future of IoT on Arm.”

About ITRI

Industrial Technology Research Institute (ITRI) is one of the world’s leading technology R&D institutions aiming to innovate a better future for society. Founded in 1973, ITRI has played a vital role in transforming Taiwan’s industries from labor-intensive into innovation-driven. To address market needs and global trends, it has launched its 2035 Technology Strategy and Roadmap that focuses on innovation development in Smart Living, Quality Health, Sustainable Environment, and Resilient Society.

Over the years, ITRI has been dedicated to incubating startups and spinoffs, including well-known names such as UMC and TSMC. In addition to its headquarters in Taiwan, ITRI has branch offices in the US, Europe, and Japan in an effort to extend its R&D scope and promote international cooperation across the globe.

For more information, please visit https://www.itri.org/eng.

Noesis AI Assistant Announced

 Optimus v2024.1 launched

LEUVEN, Belgium, May 1, 2024 – Noesis Solutions, a trusted digital engineering innovation partner, announced the launch of Noesis AI Assistant, an AI virtual assistant of Noesis Solutions, that helps its users with instant, accurate information, and support on utilizing Optimus, an automation and optimization tool by Noesis Solutions, along with the release of Optimus 2024.1. Noesis AI Assistant is a multilingual, conversational, AI virtual assistant developed using state-of-the-art ChatGPT technology. It has a deep understanding of Optimus covering all its latest features and functions, to the best practices and troubleshooting techniques of the tool. The Noesis AI Assistant will be expanded to cover the entire product portfolio of Noesis Solutions in the future.

Noesis AI Assistant helps the Optimus users by providing them with 24/7 support for queries regarding Optimus, through a secure, easy-to-use interface through which engineers and designers can receive real-time response about topics related to automation and optimization of their engineering workflows with Optimus and browse relevant topics.

Figure 1- An example of a query and response from the Noesis AI Assistant

“By enabling our users with an AI-powered language model like Noesis AI Assistant, Noesis Solutions aims to deliver unmatched customer support with expertise and training, empowering them to derive more value from Optimus. The Noesis AI Assistant retrieves information from various Optimus documentations that are enriched with knowledge from training manuals, real customer support cases, FAQs, user manuals etc. The user queries and answers are also logged anonymously which enables the team to improve Noesis AI Assistant and enable it to create responses based on learned patterns and generating fresh responses as needed. We are confident that it will add great value and seamless support for our users.” said Christine Schwarz, product owner – Optimus.

Noesis AI Assistant excels in Optimus-related topics through its sophisticated use of retrieval-assisted generation approach, which combines the strengths of two strategies: retrieval-based methods, which fetch relevant information from a predefined knowledge base, and generative models, which create responses based on learned patterns. By blending these approaches, the assistant can access knowledge stored in the Optimus documentation, that is updated consistently with the user queries that are logged anonymously, to efficiently improve for future queries.

Along with the launch of Noesis AI Assistant, Optimus 2024.1 has updated its usability features by introducing a visual project selection window and enriched its openness by adding more interfaces to 3rd party software.

About Noesis Solutions

Established in 2003, Noesis Solutions, a trusted digital engineering innovation partner, has empowered customers to adopt a transformational strategy that resolves their toughest multidisciplinary engineering challenges of today.

Noesis Solutions is a majority-owned subsidiary of Cybernet Systems, a leading provider of multi-domain CAE solutions covering a vast range of engineering problems. Headquartered in Leuven, Belgium, Noesis Solutions operates through a network of subsidiaries and representatives in key locations around the world.

For more information, please visit www.noesissolutions.com.

Mantle Releases 420 Stainless Steel

SAN FRANCISCO, CA, May 1, 2024 – Mantle, the leader in metal 3D printing technology for toolmaking, announced the release of its 420 Stainless Steel material. This material addition improves toolmaking processes, enhancing speed and efficiency while reducing labor requirements, which is especially beneficial in industries such as medical that require corrosion- resistant tooling.

Mantle 420 Stainless Steel Paste Cartridges copy

Mantle’s 420 Stainless Steel is chemically equivalent to traditional 420 stainless steel, which is renowned for its high strength, hardness, corrosion resistance, and polish ability. It is a preferred mold material for a wide range of tooling applications, including components with conformal cooling and medical device tooling, Mantle’s 420 Stainless Steel allows manufacturers to rapidly produce production-grade tooling during prototyping and product development, thereby shortening the time to produce steel tooling for validation part molding by as much as 80 percent.

“We are excited to launch this material and make it available for all of our customers,” said Ted Sorom, Mantle’s co-founder and chief executive officer. “By combining the speed and cost reductions enabled by Mantle’s tooling-focused printing system with 420 stainless steel, we help our customers set a new standard for the speed of their product development.”

“We are incredibly pleased with Mantle’s introduction of their 420 Stainless Steel, a mold material critical in the medical device industry. This announcement emphasizes Mantle’s commitment to the continuous improvement of their precision tooling technology,” Melanie Sprague, SVP, healthcare PMO and applications at Spectrum Plastics Group, a DuPont Business. “We look forward to leveraging this material and the Mantle platform to continue providing our customers with the highest-quality medical devices.”

Enhancing Tooling Applications with 420 Stainless Steel

Mantle’s 420 Stainless Steel is especially beneficial for tooling applications that employ conformal cooling channels. These channels, only achievable through additive manufacturing, enable more efficient cooling than traditional cooling methods, improving molding performance and reducing cycle times. Mantle’s 420 Stainless Steel has excellent corrosion resistance and eliminates the concern of conformal cooling channels clogging due to rust.

Examples of key applications in 420 stainless steel include:

  • Deep-ribbed medical device component mold insert printed with Mantle 420 Stainless Steel. This tool is ideal to fabricate with Mantle’s technology as the deep ribs would otherwise have required extensive sinker-EDM work, adding substantial cost and time. With Mantle, the insert can be printed in just 2.5 days.

    medical device 420 SS

  • Medical luer fitting mold insert printed with Mantle 420 Stainless Steel. Twelve tool variations can be printed, fully unattended, in just 3.5 days.

    medical luer fitting mold

The Only Metal 3D Printer Built for Tooling

Mantle’s precision metal 3D printing technology has been recognized as the premier solution for printing precision tooling, meeting the industry’s stringent requirements for accuracy, surface finish, and tool steel properties that professional toolmakers demand. Mantle’s 420 Stainless Steel is the next material in its family of Flowable Metal Pastes, which are precisely tuned to produce best-in-class accuracy and surface finish. Like all other Mantle steels, Mantle’s 420 Stainless Steel requires no modifications to toolmaking workflows for secondary operations such as texturing, polishing, welding, and machining.

Mantle’s 420 Stainless Steel will be released to customers in the second half of 2024. Customers will deploy Mantle’s 420 Stainless Steel without any modifications to hardware; only an over-the-air software update is required.

Attendees of NPE2024, the largest plastics trade show in the Americas, held in Orlando May 6- 10, will have the opportunity to witness firsthand the transformative potential of Mantle’s technology. The company will showcase examples of printed steel tooling applications, including those printed with Mantle’s 420 Stainless Steel.

About Mantle

Mantle designs and produces the only metal 3D printer built specifically for precision tooling. Mantle’s printer accelerates product development by automating how precision tool components are made. Mantle’s metal 3D printing technology delivers the accuracy, surface finish, and tool steel properties required for demanding tooling applications. Tools made with Mantle’s technology have produced millions of parts while reducing tooling lead times and costs, and helping manufacturers solve labor shortages. Mantle is headquartered in San Francisco, CA.

For more information, visit www.mantle3d.com.