Stocks to Watch for the Electric Aviation Revolution; (NYSE American: $KULR) (NYSE: $TXT) (NYSE: $GE) (NASDAQ: $LILM)

Stocks to Watch for the Electric Aviation Revolution; (NYSE American: $KULR) (NYSE: $TXT) (NYSE: $GE) (NASDAQ: $LILM)

 

Other Stocks Mentioned: (NYSE: $OKLO) (NYSE: $AMPX) (NYSE: $CAE) (NASDAQ: $META) (NASDAQ: $NVDA) (NASDAQ: $NNE)

 

August 21, 2024 - Investorideas.com, a go-to investing platform covering renewable energy stocks releases a snapshot on recent news and developments in electric aviation, featuring KULR Technology Group, Inc (NYSE American:KULR), a global leader in safe and high-performance energy storage solutions.

 

According to ReportPrime.com, “The Aircraft Electrification market faces several challenges that could hinder its growth, including high development and certification costs, limited battery technology, and insufficient charging infrastructure. Additionally, regulatory hurdles and concerns over the safety and reliability of electric systems in aviation play significant roles. However, there are promising growth areas and emerging opportunities in this sector. Advances in battery technologies, such as solid-state batteries and hybrid-electric systems, could enhance aircraft performance and range. The demand for greener aviation solutions, driven by environmental regulations and public scrutiny, is also fostering innovation.”

 

KULR Technology Group, Inc (NYSE American:KULR) has been advancing battery safety and performance in multiple markets for years and now has its eye on addressing this critical issue in the electric aviation market.

 

KULR just announced it has been selected for a pivotal battery pack reference design project by Amprius Technologies (NYSE:AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform. The final reference design will provide Amprius’ customers with a solution to address thermal runaway at the battery pack level that leverages KULR’s advanced energy management platform, KULR ONE Design Solutions, with Amprius’ high-energy Silicon Anode pouch cells to meet the rigorous thermal qualification standards set by the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA), ensuring the highest levels of safety and performance. This partnership is set to push the boundaries of next-generation battery technology, with a focus on the burgeoning advanced air mobility (AAM) market.

 

The integration of all lithium-ion battery technology into Advanced Air Mobility (AAM) presents significant challenges, particularly due to the risks of cell thermal runaway. To address these concerns, the FAA and EASA have established stringent design regulations to mitigate the risks associated with using lithium-ion battery packs in electric manned applications. The partnership between Amprius and KULR is designed to meet these strict safety standards and accelerate the adoption of Amprius’ high-performance cells in the AAM sector, where their technology is uniquely positioned to excel.

 

This news is paid advertisement/ news disseminated on behalf of/issued on behalf of KULR Technology Group, Inc.

 

Read this article featuring KULR in full at https://www.investorideas.com/news/2024/renewable-energy/08211Electric-Aviation.asp

 

Driving Innovation in Battery Technology
The joint effort will explore innovative methods to enhance battery safety and maximize energy density at the pack level. By integrating KULR’s advanced thermal management solutions with Amprius’ high-energy and high-power lithium-ion batteries and cutting-edge silicon anode technology, the partnership aims to deliver a battery system that is not only safe but also exceptionally high-performance.

 

"KULR’s proven expertise in thermal management and energy storage solutions makes them an ideal partner for this project,” said Jon Bornstein, President of Amprius Technologies Lab. “By combining Amprius' advanced silicon anode battery technology with KULR’s innovative approach to safety and performance, we are setting a new standard in the advanced air mobility segment. This partnership accelerates our ability to meet the stringent requirements of the electric aviation industry while simultaneously pushing forward the evolution of battery technology with a focus on safety, efficiency, and market expansion."

 

A Comprehensive Approach to Design and Testing
The project will be executed in four phases, beginning with extensive data collection and design concept delivery. Subsequent phases will include detailed thermal modeling, propagation prevention response (PPR) design, and rigorous testing to ensure compliance with the highest safety standards. This systematic approach will enable the development of a robust and scalable battery solution tailored to the needs of various applications within the e-aviation sector and beyond.

 

A Commitment to Market Expansion
This collaboration underscores KULR and Amprius' commitment to expanding into growing markets by providing innovative solutions that address the critical needs of safety and performance in energy-dense battery systems. The partnership is poised to play a pivotal role in the evolution of battery technology, particularly in the electric aviation market, where the demand for lightweight, high-performance energy storage solutions is rapidly increasing.

 

Precision Business Insights estimates the global electric aircraft market to reach USD $13.55 billion by 2030, growing at a CAGR of 7.62% during the forecast period of 2024 to 2030.

 

KULR previously announced other contracts in the electric aviation industry. In April, KULR unveiled a commitment exceeding $1 million with H55 Inc. (“H55”), a pioneer and global leader in electric propulsion. H55 will employ KULR’s unique Thermal Runaway Shield (“TRS”) within its propulsion systems that equip fleets of industry behemoths such as Pratt & Whitney and CAE Inc. (NYSE:CAE). According to the agreement, the initial delivery phase began in Q1 2024. Embedding KULR’s TRS into H55’s Electrical Propulsion System (“EPS”) is critical for aligning with the European Union Aviation Safety Agency (“EASA”) safety protocols. H55 harnesses KULR’s innovative TRS to construct systems that adhere to stringent safety measures while retaining efficiency and energy density. EASA recently approved the H55 EPS solution, paving the way for the critical compliance demonstration phase of their certification program (https://h55.ch/news/).

 

In addition to its battery technologies, KULR has a long history of serving the aviation industry with its KULR VIBE technology which eliminates vibration for helicopters and drones During their recent earnings call, KULR's CEO talked about how KULR VIBE serves the computer server market for Facebook (NASDAQ: META) and Nvidia (NASDAQ: NVDA) with better cooling technology by removing vibration in the server’s fans.

 

KULR VIBE can reduce energy use and cool the hot AI processing chips more efficiently, which has dramatically increased energy demand for companies like NNE NANO Nuclear Energy Inc. (NASDAQ: NNE) and Oslo Inc. (NYSE:OKLO), which is backed by Sam Altman of OpenAI.

 

Pipistrel, a Textron Inc. (NYSE:TXT) company, announced earlier this year that the Federal Aviation Administration (FAA) has granted a light-sport aircraft (LSA) airworthiness exemption for the Pipistrel Velis Electro, opening up flight training in an electric aircraft within the United States.

 

The FAA exemption allows US flight schools to use the electric aircraft within their flight training programs. The Velis Electro offers a lower-cost and more sustainable learning platform for student pilots to acquire flying skills and go from zero flight experience to eventually flying solo, while giving them early experience on next-generation power systems.

 

Kriya Shortt, President and CEO of Textron’s eAviation segment says, “This is a great day for flight training organizations and aspiring pilots. With this exemption, the cost-barrier to pursuing primary flight training can be substantially reduced. We are thankful to the FAA for its support in bringing more opportunities for electric aviation to the United States.”

Addressing the need for better battery technology in a recent KMUW article, Textron said, "Battery technology needs to continue to mature because … there is a weight component to that," said Textron eAviation's Shortt. "And we do have to be able to have a useful load that makes … commercial viability of the product.

 

"So not only do you have to be able to carry what you need to carry, or want to carry, and go the duration that you want to because you can't just pull over to the side of the road and charge."

 

Continued: Current battery capacity limits how far electric aircraft can fly and how much they can carry. Pipistrel, which has about 300 employees at facilities in Slovenia and Italy, makes the Velus, a two-seat electric plane. But its range is only about 50 minutes between charges.

 

GE Aerospace (NYSE:GE) said in news in June that they are developing a hybrid electric demonstrator engine with NASA that will embed electric motor/generators in a high-bypass commercial turbofan to supplement power during different phases of operation.

 

This includes modifying a Passport engine with hybrid electric components for testing through NASA’s Hybrid Thermally Efficient Core (HyTEC) project. It’s one of several efforts GE Aerospace has underway to mature technologies for more electric aircraft engines and is being advanced as part of the CFM International Revolutionary Innovation for Sustainable Engines (RISE)* program.

 

Continued: Embedded electric motor/generators will optimize engine performance by creating a system that can work with or without energy storage like batteries. This could help accelerate the introduction of hybrid electric technologies for commercial aviation prior to energy storage solutions being fully matured.

 

“Together with NASA, GE Aerospace is doing critical research and development that could help make hybrid electric commercial flight possible,” said Arjan Hegeman, General Manager of Future of Flight Technologies at GE Aerospace.

 

Initial component-level testing of electric motor/generators and power electronics has been completed for the HyTEC Turbofan Engine Power Extraction Demonstration. Systems testing took place at GE Aerospace’s EPISCenter in Dayton, Ohio. Additionally, a baseline test of the Passport engine to characterize performance before hybrid electric components are added was completed at the company’s Peebles Test Operation, also in Ohio.

 

Results of the hybrid electric component and baseline engine tests are being used to evaluate and update models in preparation for a ground test.

 

“We’re advancing state-of-the-art propulsion systems for next generation commercial aircraft with an important aim — to drive industry efforts to improve efficiency and reduce emissions compared to today’s aircraft engines,” Hegeman said.

 

NASA recently awarded GE Aerospace a contract for Phase 2 of the HyTEC project to continue developing technologies for an aircraft engine core demonstrator test later this decade. Phase 2 builds on work completed in Phase 1 of HyTEC for high-pressure compressor and high-pressure turbine advanced aerodynamics, as well as the combustor.

 

Looking at the future demand and possibilities of electric aviation, “A landmark international survey has revealed the scale of pent up demand for clean aviation, with 65 per cent of consumers across the four countries calling for change.”

 

Continued: In a unique poll of 4,000 people across the US, UK, France, and Germany, two-thirds (65%) of consumers said that it is time for air travel to become sustainable.

 

The figures, unveiled by Lilium N.V. (NASDAQ:LILM), a leading electric aircraft manufacturer and pioneer in Regional Air Mobility (RAM), also reflect wide excitement about the prospect of new forms of transport.

 

Polled on a series of innovative travel methods, 60% said they would try electric aviation, while 61% specifically said they would like to try eVTOL aircraft such as the Lilium Jet, with demand strongest in Germany (64%).

 

The research also revealed widespread concern over the impact on traditional aviation – 73% said they were concerned about its contribution to pollution, with the proportion highest in Germany (76%), and similarly backed by two-thirds (67%) of consumers in the US.

 

Revolutions in traditional markets represent opportunity for investors willing to bet on innovation. As KULR Technology Group, Inc (NYSE American: KULR) pointed out in its recent news, “the global electric aircraft market to reach USD $13.55 billion by 2030, growing at a CAGR of 7.62% during the forecast period of 2024 to 2030.”

 

Research battery stocks at Investorideas.com

https://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp#Battery-Energy-Storage-Backup-Stocks

 

Research Electric Aircraft Stocks

https://www.investorideas.com/AUTO/Stock_List.asp#electric-aircraft

 

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Breaking Solar News – SinglePoint (CBOE: $SING) subsidiary Boston Solar Announces Strategic Sales Partnership with SolarizeNE to Grow and Expand the Residential Customer Footprint to 500,000+ New Households in Massachusetts Not Previously Served by Boston Solar; @_Singlepoint_ @BostonSolarCo

Breaking Solar News – SinglePoint (CBOE: $SING) subsidiary Boston Solar Announces Strategic Sales Partnership with SolarizeNE to Grow and Expand the Residential Customer Footprint to 500,000+ New Households in Massachusetts Not Previously Served by Boston Solar; @_Singlepoint_ @BostonSolarCo

 

Boston, MA, August 20, 2024 - (Investorideas.com Newswire) SinglePoint Inc. (CBOE:SING), ("SinglePoint" or "the Company") subsidiary Boston Solar (www.bostonsolar.us), a proud partner of the Boston Red Sox and a leading provider of solar energy solutions in Massachusetts since 2011, is proud to announce the onboarding of Solarize NE (www.solarizene.com) as a strategic residential sales channel partner. The Agreement between Solarize NE and Boston Solar expands its market reach to an additional 500,000 potential customers across segments of Massachusetts not previously served by Boston Solar. Solarize NE based in Leominster, MA is a trusted, family-owned company with 30+ years of combined experience.

 

Boston Solar is a comprehensive engineering, procurement, and construction (EPC) solar services company with 1,100 5 Star reviews and in June 2024 announced that it had surpassed 6,000 Residential Solar installations in Massachusetts. Boston Solar was recently named as by MarketWatch and this Old House as a Top 6 Solar Company in Massachusetts.

 

Solarize NE will compliment and partner with Boston Solar's internal sales teams allowing for installation expansion into areas of the state not previously serviced by Boston Solar. Solarize NE has built a reputation for their expert guidance and advice for customers seeking to go solar. As part of Solarize NE analysis including customer energy savings they routinely assess and recommend top tier solar installation vendors like Boston Solar to their customers.

 

This news is paid advertisement/ news disseminated on behalf of/issued on behalf of SinglePoint Inc.

 

Read this news featuring SING in full at https://www.investorideas.com/news/2024/08201SING-Boston-Solar.asp

 

"We are excited to integrate and partner with a premier third-party sales group to expand Boston Solar's footprint to additional residential households in Massachusetts," says Wil Ralston CEO of SinglePoint. "Solarize NE understands the intricacies of the Massachusetts' market and shares Boston Solar's commitment to serving residential solar customers. Boston Solar is more than just a solar installation company - it's a dedicated group of professionals committed to bringing clean, renewable energy to homes and businesses across Massachusetts. The Boston Solar team combines deep local knowledge with industry-leading expertise to deliver exceptional solar solutions tailored to the unique needs of the communities across Massachusetts."

 

As part of the continuous improvements at Boston Solar since the acquisition by SinglePoint, Inc. and post naming Mike Morlino as its new President earlier this year, Boston Solar has made improvements to its internal engineering platform allowing third party sales groups seamless interaction with Boston Solar's engineering and support teams.

 

"According to SEIA, the Solar Energy Industry Association it took America nearly 50 years to reach 5 million solar installations and it will only take 6 years to reach 10 million solar installations. We firmly believe in the long-term viability of owning and operating leading local residential and small commercial solar installation companies and we continue to invest and reposition capital and resources within Boston Solar to match the current market conditions and to be prepared to capitalize on the long-term success forecasted for the solar and energy storage industry," stated Michael Morlino, President Boston Solar. "My senior leadership is focused on ensuring Boston Solar is scaled and prepared for scale that will allow the company to grow responsibly and enhance its profitability. The national macro solar market has been severely challenged this year resulting in several companies that have not had access to capital or that could not adjust to the higher interest rates and the effects that it had on their product purchases and customers to cease operations. Boston Solar has utilized this time to enhance our internal operations through reduction of overhead costs and improvement of the technology stack all of which will drive improved efficiency through the business units. As the Solar market rebounds and begins to aggressively grow again, we will be positioned to capitalize."

 

Mr. Morlino and Stephen McPhee, VP of Operations are focused on developing and leveraging local partnerships that expand Boston Solar's footprint throughout the state of Massachusetts and the New England Region. Boston Solar is committed to becoming the premier installer of choice for customers looking for residential and small commercial solar solutions. Massachusetts is currently ranked as the number eleven state in the USA for solar operations. Homes in New England present many complex and unique engineering challenges. Our 10+ years of experience in the market led us to investing and improving our systems to create a tool that seamlessly integrates sales and engineering. This tool can now be utilized to bring on leading 3rd party sales groups like Solarize NE with the goal of increasing Boston Solar's existing Residential Solar business by at least twenty percent (20%).

 

For more information about Boston Solar and its services, please visit www.bostonsolar.us.

 

About Boston Solar

Boston Solar is a subsidiary of SinglePoint Inc. (CBOE: SING). Since its founding in 2011, Boston Solar has installed more than 6,000 residential and commercial solar arrays, powering thousands of homes and businesses in New England, primarily in Massachusetts. The mission of Boston Solar is to provide superior clean energy products, exceptional customer service, and the highest-quality artistry in residential and commercial installations.

 

Boston Solar has accumulated several distinctions of recognition of the company's outstanding triumphs:

 

·        Honored with Guildmaster Award from GuildQuality, the award acknowledged how Boston Solar demonstrated exceptional customer service within the residential construction industry.

·        Named a Top Solar Contractor by Solar Power World magazine for five consecutive years.

·        Recognized by the Boston Business Journal's "Largest Clean Energy Companies in Massachusetts" list.

 

Boston Solar is a Solar Energy Business Association of New England (SEBANE) member. The company is headquartered at 12 Gill St. Suite - 5650 Woburn, MA 01801. Learn more at: www.bostonsolar.us.

 

About SinglePoint Inc.

SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com).

 

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the use of proceeds, anticipated growth and future expansion, are forward-looking statements that involve risks and uncertainties.

 

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

 

Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

 

Media Contact:

Michael Morlino, President

info@bostonsolar.us

 

Investor Relations Contact:

SinglePoint Inc

investor@singlepoint.com

888-682-7464

 

SinglePoint (CBOE:SING) is a featured cleantech stock on Investorideas.com

 

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Disclaimer/Disclosure: SinglePoint Inc. (CBOE: SING) is a paid featured solar stock on Investor Ideas. More info:Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact management and IR of each company directly regarding specific questions. More disclaimer and disclosure info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

 

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Electric Aviation Market Estimated to Reach $37 Billion By 2030 as Demand for Environment-Friendly Aircraft Rises; (NYSE: $KULR) (NASDAQ: $META) (NASDAQ: $NVDA) (NASDAQ: $NNE) (NYSE: $OKLO) @FNMgroup @KULRTech

Electric Aviation Market Estimated to Reach $37 Billion By 2030 as Demand for Environment-Friendly Aircraft Rises; (NYSE: $KULR) (NASDAQ: $META) (NASDAQ: $NVDA) (NASDAQ: $NNE) (NYSE: $OKLO) @FNMgroup @KULRTech

 

Palm Beach, FL – August 20, 2024 – FN Media Group News Commentary – According to the International Energy Agency (IEA), global flights produced around 720 million tons of carbon dioxide in 2021. The global aviation industry produces over 2% of all the CO2 emissions induced by humans.  With an increase in the number of global aircraft fleet size and air travel, these numbers are expected to rise even higher. Hence, there has been a pressing need for electric aircraft, which will help reduce the carbon footprint of the aviation industry. Organizations and governing bodies such as the International Civil Aviation Organization, the Federal Aviation Administration, and the European Union Aviation Safety Agency have called for sustainable alternatives to aircraft fuel as they estimate that aircraft-generated emissions are expected to be three-fold in volume by 2050. Since electric engines do not have noises associated with jet or combustion engines, they result in no aircraft noise levels. In an electric aircraft, manufacturers aim to improve efficiency by replacing hydraulically controlled systems with electric systems.  A report from MarketsAndMarkets projected that the Electric Aircraft Market which was valued at $8,800 Million in 2022 and is estimated to grow from $10,100 Million USD in 2023 to $37,200 Million USD by 2030 at a CAGR (Compound Annual Growth Rate) of 19.8%. Rising demand for environment-friendly aircraft and the growing development of UAVs and electric VTOLs are the key factors driving the electric aircraft market.  Active companies in news today include:  KULR Technology Group, Inc. (NYSE: KULR), Meta Platforms, Inc. (NASDAQ: META), NVIDIA Corporation (NASDAQ: NVDA), NNE NANO Nuclear Energy Inc. (NASDAQ: NNE), Oslo Inc. (NYSE: OKLO).

 

The MarketsAndMarkets report said: “An electric aircraft uses batteries for power and propulsion, which is traditionally achieved by fossil fuels. There has been a growing need for sustainable alternatives to fossil fuel to reduce the carbon emissions resulting from aircraft, as the global aircraft fleet size and air travel is expected to increase in the future. Electric aircraft are more energy-efficient and are considered a cleaner and quieter mode of air travel. Recent technological advancements in power electronics, battery technologies, and electrical motors played a major role in driving the market for electric aircraft. The adoption of electric aircraft is expected to drive value and unlock significant improvements in terms of aircraft weight, energy efficiency, total life cycle cost, maintenance, and aircraft reliability.  By system, the aerostructures segment is estimated to dominate the electric aircraft market during the forecast period. Aerostructures account for the largest share of the total development cost of an aircraft. Newly developed electric aircraft, especially eVTOL aircraft, require some of the most advanced materials to make them lightweight while maintaining their structural strength. These factors contribute to the large share of the system segment in the electric aircraft market.”

 

KULR Technology Group, Inc. (NYSE American: KULR) Partners with Amprius Technologies to Develop Reference Design to Enhance Battery Safety and Performance in Advanced Air Mobility – KULR Technology Group, (the “Company” or “KULR”), a global leader in safe and high-performance energy storage solutions, today announced it has been selected for a pivotal battery pack reference design project by Amprius Technologies (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform. The final reference design will provide Amprius’ customers with a solution to address thermal runaway at the battery pack level that leverages KULR’s advanced energy management platform, KULR ONE Design Solutions, with Amprius’ high-energy Silicon Anode pouch cells to meet the rigorous thermal qualification standards set by the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA), ensuring the highest levels of safety and performance. This partnership is set to push the boundaries of next-generation battery technology, with a focus on the burgeoning advanced air mobility (AAM) market.

 

Read this in full at https://www.financialnewsmedia.com/electric-aviation-market-estimated-to-reach-37-billion-by-2030-as-demand-for-environment-friendly-aircraft-rises/

 

The integration of all lithium-ion battery technology into Advanced Air Mobility (AAM) presents significant challenges, particularly due to the risks of cell thermal runaway. To address these concerns, the FAA and EASA have established stringent design regulations to mitigate the risks associated with using lithium-ion battery packs in electric manned applications. The partnership between Amprius and KULR is designed to meet these strict safety standards and accelerate the adoption of Amprius’ high-performance cells in the AAM sector, where their technology is uniquely positioned to excel.

 

Driving Innovation in Battery Technology – The joint effort will explore innovative methods to enhance battery safety and maximize energy density at the pack level. By integrating KULR’s advanced thermal management solutions with Amprius’ high-energy and high-power lithium-ion batteries and cutting-edge silicon anode technology, the partnership aims to deliver a battery system that is not only safe but also exceptionally high-performance.

 

“KULR’s proven expertise in thermal management and energy storage solutions makes them an ideal partner for this project,” said Jon Bornstein, President of Amprius Technologies Lab. “By combining Amprius’ advanced silicon anode battery technology with KULR’s innovative approach to safety and performance, we are setting a new standard in the advanced air mobility segment. This partnership accelerates our ability to meet the stringent requirements of the electric aviation industry while simultaneously pushing forward the evolution of battery technology with a focus on safety, efficiency, and market expansion.” CONTINUED…  Read this entire press release and more news for KULR at:  https://www.financialnewsmedia.com/news-kulr/  

 

In addition to its battery technologies, KULR has a long history of serving the aviation industry with its KULR VIBE technology which eliminates vibration for helicopters and drones. Last week during they earnings call, KULR’s CEO was very excited how KULR VIBE serves the computer server market for Facebook (NASDAQ: META) and Nvidia (NASDAQ: NVDA) with better cooling technology by removing vibration in the server’s fans. KULR VIBE can reduce energy use and cool the hot AI processing chips more efficiently, which has dramatically increased energy demand for companies like NNE NANO Nuclear Energy Inc. (NASDAQ: NNE) and Oslo Inc. (NYSE: OKLO), which is backed by Sam Altman of OpenAI.

 

In other developments in the markets of note:

 

 

 

NVIDIA Corporation (NASDAQ: NVDA) recently announced major advancements to Universal Scene Description, or OpenUSD, that will expand adoption of the universal 3D data interchange framework to robotics, industrial design and engineering, and accelerate developers’ abilities to build highly accurate virtual worlds for the next evolution of AI.

 

Through new OpenUSD-based generative AI and NVIDIA-accelerated development frameworks built on the NVIDIA Omniverse™ platform, more industries can now develop applications for visualizing industrial design and engineering projects, and for simulating environments to build the next wave of physical AI and robots.

 

Meta Platforms, Inc. (NASDAQ: META) recently reported financial results for the quarter ended June 30, 2024.  “We had a strong quarter, and Meta AI is on track to be the most used AI assistant in the world by the end of the year,” said Mark Zuckerberg, Meta founder and CEO. “We’ve released the first frontier-level open source AI model, we continue to see good traction with our Ray-Ban Meta AI glasses, and we’re driving good growth across our apps.”

 

NANO Nuclear Energy Inc. (NASDAQ: NNE), a vertically integrated advanced nuclear energy and technology company developing portable clean energy solutions, recently announced that it has signed a Memorandum of Understanding (MOU) with the Rwanda Atomic Energy Board (RAEB).

 

The MOU establishes a framework under which NANO Nuclear work alongside the RAEB to facilitate the introduction and eventual integration of small modular reactors (SMRs) and microreactors, like ‘ZEUS’ and ‘ODIN’, NANO Nuclear’s next generation microreactors in development, throughout the Republic of Rwanda. NANO Nuclear will also be responsible for enabling the development of the country’s entire ecosystem of nuclear energy systems. This includes providing technical assistance, training and educational programs to develop Rwanda’s technical expertise in the nuclear energy industry.

 

Oklo Inc. (NYSE: OKLO), a fast fission clean power technology and nuclear fuel recycling company, recently announced a key strategic development in its supply chain management by signing a Preferred Supplier Agreement with Siemens Energy for the power conversion system of the Aurora powerhouse. This agreement underscores Oklo’s ambitions to bring cost-efficient advanced fission technology to market. Building on a previously signed Memorandum of Understanding, this binding agreement marks a crucial step in Oklo’s vision to enhance production scalability, cost efficiency, and rapid deployment to meet growing customer demand.

 

Siemens Energy is a supplier of steam turbine and generator technology – rotating equipment that is part of the conventional island in small and large nuclear generation plants. Siemens Energy will supply the power conversion and supporting systems, fostering efficiencies through economies of scale. Standardizing equipment across Oklo’s powerhouses is expected to result in cost savings in manufacturing, construction, operations, and maintenance. Utilizing shared spare parts across deployment is expected to reduce maintenance downtime, enhance reliability, and improve overall performance.

 

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