AI Stock News Bite - Auddia Inc. (NASDAQ: AUUD) Stock Makes Noise on News of Issuance of Core AI Patent

AI Stock News Bite - Auddia Inc. (NASDAQ: AUUD) Stock Makes Noise on News of Issuance of Core AI Patent: AI Stock News Bite - Auddia Inc. (NASDAQ: AUUD) Stock Makes Noise on News of Issuance of Core AI Patent

Global A.I. Healthcare Market Expected To Expand At CAGR Of 36.4% From 2024 To 2030; (OTCQB: $AVAI) (NASDAQ: $NVDA) (NASDAQ: $SOUN) (NASDAQ: $CXAI) (NASDAQ: $MRVL) @FNMgroup @AvantTechAI

Global A.I. Healthcare Market Expected To Expand At CAGR Of 36.4% From 2024 To 2030; (OTCQB: $AVAI) (NASDAQ: $NVDA) (NASDAQ: $SOUN) (NASDAQ: $CXAI) (NASDAQ: $MRVL) @FNMgroup @AvantTechAI

 

Palm Beach, FL – April 9, 2024 – FN Media Group News Commentary – Experts universally see that the AI in the healthcare market will continue to reach new highs throughout this decade. A report from Grand View Research said that the global AI in healthcare market size was estimated at USD 22.45 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 36.4% from 2024 to 2030.  The report said: “Growing datasets of patient health-related digital information, increasing demand for personalized medicine, and rising need to reduce care expenses are some major drivers of market growth. The rising global geriatric population, changing lifestyles, and increasing prevalence of chronic diseases have contributed to a growth in demand for diagnosing and improved understanding of diseases in their initial stages. Artificial Intelligence (AI) and machine learning (ML) algorithms are being widely adopted and integrated into healthcare systems to accurately predict diseases in their early stage based on historical health datasets. 

 

Read this in full at https://www.financialnewsmedia.com/global-a-i-healthcare-market-expected-to-expand-at-cagr-of-36-4-from-2024-to-2030/

 

Furthermore, deep learning technologies, predictive analytics, content analytics, and natural language processing (NLP) tools are enabling care professionals to diagnose patient’s underlying health conditions at an earlier stage. The COVID-19 pandemic positively influenced the demand for AI technologies and unearthed the potential of these advanced technologies. Healthcare systems widely adopted these technologies in the rapid diagnosis and detection of different virus strains and utilized personalized information in improving the management of the outbreak. AI/ML algorithms were utilized in the diagnosis sector wherein these technologically driven modules were trained with datasets of chest CT images, symptoms, pathological findings, and exposure history to diagnose COVID-19-positive patients rapidly and accurately.”  Active tech companies in the markets this week include: Avant Technologies, Inc. (OTCQB: AVAI), NVIDIA Corporation (NASDAQ: NVDA), SoundHound AI, Inc. (NASDAQ: SOUN), CXApp Inc. (NASDAQ: CXAI), Marvell Technology, Inc. (NASDAQ: MRVL).

 

Grand View Research continued: “The growing shortage of healthcare workforce drove the adoption of AI/ML technologies. Therefore, AI algorithms can be trained to analyze patient health information, which further supports care providers in quickly diagnosing the condition and devising an accurate treatment regime. Supportive government initiatives, rising number of mergers and acquisitions and technological collaborations, and COVID-19 pandemic had a significant role in boosting the growth of the market and accelerating the adoption rate of AI in healthcare. AI/ML algorithms are being widely implemented in rapid and accurate diagnosis of medical conditions after the initial implementation in the detection of COVID-19 positive patients using personalized patient information and data consolidation.  North America dominated the market in 2023 and held the largest revenue share of 57.7%, owing to advancements in healthcare IT infrastructure, growing care expenditures, widespread adoption of AI/ML technologies, favorable government initiatives, lucrative funding options, and presence of several key market players.”

 

 

 

Avant Technologies, Inc. (OTCQB: AVAI) Acquires Wired-4-Health, Advancing AI Interoperability in Healthcare Data – Avant Technologies, Inc. (“Avant” or the “Company”), an artificial intelligence technology (AI) company specializing in developing innovative and advanced AI and AI infrastructure solutions, today announces the completion of its acquisition of privately held healthcare technology and data integration services firm, Wired-4-Health.

 

Unified by a shared objective to propel the healthcare data interoperability landscape forward, this strategic merger leverages cutting-edge AI and amplified computational capabilities. This potent combination empowers healthcare and life sciences organizations to navigate the complexities of data and system interoperability with unprecedented efficiency. By streamlining transaction processing, health outcomes analytics, and compliance adherence, this union fosters enhanced performance, improved data integrity, and a more cost-effective, scalable infrastructure for customers.

 

“Our strategy behind this acquisition was to enable Avant to deliver best-in-class data and system interoperability support services to the healthcare and life sciences sectors powered by AvantAI® and our high-density compute capabilities,” said Tim Lantz, Chief Executive Officer of Avant Technologies. “At the same time, this exciting combination significantly strengthens our financial profile, offers massive commercial growth opportunities in one of Avant’s largest target markets, and bolsters our internal customer support and R&D capabilities.”

 

The healthcare sector currently grapples with a confluence of intensifying pressures. Providers face an unrelenting demand to elevate patient outcomes while simultaneously reducing costs. This exigency coincides with an unprecedented prevalence of chronic illness and clinician burnout. Despite the transformative potential of digitalization within healthcare, a crucial impediment persists. The lack of standardized data protocols renders the vast troves of information generated by this digital revolution immensely intricate and expensive to utilize. Consequently, the potential for data-driven solutions to the industry’s most pressing challenges remains unrealized.

 

“In the near term, if the healthcare industry expects to succeed in lowering costs while improving quality, the deployment of advanced AI, combined with more powerful, cost-effective compute capabilities will be critical to that success,” said Angela Harris, Avant’s Chief Operating Officer. “The addition of Wired-4-Health will position Avant as a key contributor in helping healthcare organizations solve complex problems at the intersection of cost, quality, compliance and technology.”    Continued… Read these full press releases and more news for Avant Technologies at:  https://www.financialnewsmedia.com/news-avai/

 

Other recent developments in the markets of note include:

 

 

 

NVIDIA Corporation (NASDAQ: NVDA) recently announced that leading AI application developers across a wide range of industries are using NVIDIA digital human technologies to create lifelike avatars for commercial applications and dynamic game characters. The results are on display at GTC, the global AI conference held this week in San Jose, Calif., and can be seen in technology demonstrations from Hippocratic AI, Inworld AI, UneeQ and more.

 

NVIDIA Avatar Cloud Engine (ACE) for speech and animation, NVIDIA NeMo™ for language, and NVIDIA RTX™ for ray-traced rendering are the building blocks that enable developers to create digital humans capable of AI-powered natural language interactions, making conversations more realistic and engaging.

 

“NVIDIA offers developers a world-class set of AI-powered technologies for digital human creation,” said John Spitzer, vice president of developer and performance technologies at NVIDIA. “These technologies may power the complex animations and conversational speech required to make digital interactions feel real.”

 

SoundHound AI, Inc. (NASDAQ: SOUN), a global leader in voice artificial intelligence, recently announced that its voice assistant with integrated ChatGPT will be the first to go into vehicles in Japan. SoundHound Chat AI Automotive became the world’s first in-vehicle voice assistant with integrated generative AI when it hit the market in April 2023. It will be available in Stellantis DS Automobiles in Japan starting this month.

 

At the beginning of March 2024, DS Automobiles became the first automaker in the world to go into full production with SoundHound Chat AI, with an initial rollout in 13 languages across 18 countries. The most sophisticated voice AI assistant available today, it can respond to a vast range of questions from hundreds of real-time domains, as well as large language models, like ChatGPT.

 

This assistant – which DS Automobiles has named Iris – will allow drivers and passengers to use hands-free voice control to unlock a vast range of information and updates. Whether that’s for planning a trip, opening the sunroof, asking for the sports scores, making a call, or accessing parking information from their destination.

 

CXApp Inc. (NASDAQ: CXAI) recently announced the signing of strategic partnership and development agreements with Google Cloud as part of the launch of the CXAI Platform.  Khurram Sheikh, Chairman and Chief Executive Officer of CXApp said, “The CXAI SaaS platform is anchored on the intersection of customer experience (CX) and artificial intelligence (AI) providing digital transformation for the workplace for enhanced experiences across people, places and things.

 

“Our strategic partnership and development agreements with Google Cloud signify a pivotal moment in our journey. By leveraging our AI-native platform, powered by cutting-edge technology and data insights, we’re poised to be the technology leader enabling transformative workplace experiences”, stated Naresh Soni, CTO of CXApp Inc.

 

 

 

Marvell Technology, Inc. (NASDAQ: MRVL) recently outlined its broad-ranging strategy to optimize optical technology to meet the rising performance and power requirements of AI and cloud data centers at OFC 2024, taking place in San Diego, California.

 

Marvell CEO and Chairman, Matt Murphy, and EVP and GM of Cloud Optics, Dr. Loi Nguyen, among others, discussed the driving forces behind the growth of optical as well as Marvell’s ideas for enhancing optical PAM4 DSPs, coherent DSPs, silicon photonics, and other optical technologies for data centers to serve an expanding range of architectures, applications, use cases, performance characteristics, and customer profiles.

 

“Over the last two decades, optical data rates have increased 1000x while energy per bit has declined 100x3, and in the process transformed data infrastructure and enabled the rise of services like streaming media, cloud computing, smartphones and AI,” said Dr. Radha Nagarajan, senior vice president and chief technology officer, Optical Platforms at Marvell and the 2024 recipient of the David Richardson Medal for significant contributions to optical engineering. “The industry is now entering a new chapter and Marvell is looking forward to collaborating with its partners in extending the horizons of this far-reaching technology.”

 

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AI Stock News Bite - Alset Capital Inc. (TSXV: KSUM.V) Gains on News of Supply Agreement with AI Leaders

AI Stock News Bite - Alset Capital Inc. (TSXV: KSUM.V) Gains on News of Supply Agreement with AI Leaders: AI Stock News Bite - Alset Capital Inc. (TSXV: KSUM.V) Gains on News of Supply Agreement with AI Leaders

No April Fools in These AI Stocks (NASDAQ: $GXAI) (Nasdaq: $LGCL) (TSX: $MCB.TO) (NASDAQ: $JTAI)

No April Fools in These AI Stocks (NASDAQ: $GXAI) (Nasdaq: $LGCL) (TSX: $MCB.TO) (NASDAQ: $JTAI)

 

 

 

 

 

April 3, 2024 – (Investorideas.com Newswire) Investorideas.com, a global news source and expert investing resource, announces today’s roundup of stocks to watch in the AI (artificial intelligence) sector.

 

Read this in full at https://www.investorideas.com/news/2024/technology/04032AI-Stocks.asp

 

The newest tech stocks are involved in the AI (artificial intelligence) and machine learning sectors.

 

New Stocks Added to the AI Directories:

Gaxos.ai Inc. (NASDAQ: GXAI) isn’t just developing applications; it’s aim is to redefine the human-AI relationship. Our offerings are being expanded to include health and wellness, as well as gaming. We’re committed to addressing health, longevity, and entertainment, through AI solutions.

 

Lucas GC Ltd (Nasdaq:LGCL) is the largest AI technology-driven online agent-centric human capital management service provider targeting professionals based on PaaS in China. As a company empowered by artificial intelligence, data analytics, and blockchain technologies, Lucas is committed to digitalizing and intellectualizing the entire human capital management process. Lucas provides a platform to support trusted private social networks of professionals, through which it provides services consisting of recruitment services, outsourcing services, and other services such as information technology services and training services. The Company's users are primarily professionals who work in human resources related functions. The Company's corporate customers are corporations with recruitment, training, sales leads generation and outsourcing demands.

 

McCoy Global, Inc. (TSX:MCB) is transforming well construction using automation and machine learning to maximize wellbore integrity and collect precise connection data critical to the global energy industry. The Corporation has offices in Canada, the United States of America, and the United Arab Emirates and operates internationally in more than 50 countries through a combination of direct sales and key distributors.

 

Jet.AI Inc. (NASDAQ: JTAI ) operates in two segments, Software and Aviation, respectively. The Software segment features the B2C CharterGPT app and the B2B Jet.AI Operator platform. The CharterGPT app uses natural language processing and machine learning to improve the private jet booking experience. The Jet.AI operator platform offers a suite of stand-alone software products to enable FAA Part 135 charter providers to add revenue, maximize efficiency, and reduce environmental impact. The Aviation segment features jet aircraft fractions, jet card, on-fleet charter, management, and buyer’s brokerage. Jet.AI is an official partner of the Las Vegas Golden Knights, 2023 NHL Stanley Cup® champions. The Company was founded in 2018 and is based in Las Vegas, NV and San Francisco, CA.

 

The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector.

 

Read and hear The AI  Eye Podcast

 

Research AI stocks with our Free AI stock Directory

 

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AI Technology Advancing Cloud Computing (TSXV: $KSUM.V) (NASDAQ: $NVDA) (NASDAQ: $SMCI) (CBOE: $VERS) @nvidia @Supermicro_SMCI @helloVERSES

AI Technology Advancing Cloud Computing (TSXV: $KSUM.V) (NASDAQ: $NVDA) (NASDAQ: $SMCI) (CBOE: $VERS) @nvidia @Supermicro_SMCI @helloVERSES

 

April 3, 2024 –Investorideas.com, a global news source and expert investing resource covering AI stocks issues a snapshot for the future of the AI cloud market featuring Alset Capital Inc. (TSXV:KSUM)(FSE:1R60, WKN:A3ESVQ), a company aiming to be a pure-play pubco operator of AI specialized computing infrastructure.

 

Read this article featuring KSUM in full at https://www.investorideas.com/news/2024/technology/04031AI-Cloud-Computing.asp

 

According to AnalyticsInsight, “The dawn of the digital era has ushered in unprecedented advancements, with Artificial Intelligence (AI) emerging as the cornerstone of innovation across industries. Among the myriad applications of AI, the integration of AI into cloud computing has proven to be a game-changer, giving rise to the Cloud AI market. The Cloud AI market size was valued at US$60.08 billion in 2023 and is anticipated to reach US$270.94 billion by 2028, with a CAGR of 35.15% over the forecast period.”

 

Alset Capital Inc. (TSXV:KSUM)(FSE:1R60, WKN:A3ESVQ) just announced it has entered into a loan agreement with Cedarcross International Technologies Inc., with respect to a loan for a principal amount of $3,700,000 to purchase 10 Nvidia H100 HGX GPU servers capable of leasing 700,000 compute hours.

 

From the news: Cedarcross’ mission is to democratize access to high-performance AI computing. Cedarcross offers access to the world’s fastest AI servers, heralding a new era of technological advancement. By offering access to the world’s fastest AI servers, powered by Nvidia’s H100 HGX GPUs, Cedarcross empowers enterprises with computing capabilities, exceeding 700,000 hours, with plans to increase its computing capabilities in the future.

Through a strategic hosting relationship with a leading North American data center provider boasting an extensive network of over 40+ facilities across key markets, Cedarcross ensures seamless connectivity and reliability. This partnership fortifies Cedarcross’s infrastructure with essential features such as fiber optic connectivity, UPS backup, and localized computing capabilities.

 

From the news: Cedarcross’s strategic approach to leasing compute resources to enterprises clients demonstrates a clear pathway to significant revenue growth. By facilitating the training of AI workloads, Cedarcross not only plans to generate cash flows but also scales its hardware infrastructure fleet to meet evolving market demand for compute. Leveraging its industry-leading partners, Cedarcross is poised to drive streamlined growth and innovation in the AI sector.

 

In consideration of the Loan, Alset’s management and Board of Directors reviewed similar transactions in the AI sector, including Magnetar Capital’s and Blackstone’s $2.3B debt facility to CoreWeave in 2023, secured by Nvidia chips.

 

"The strategic alliance and loan between Alset and Cedarcross signifies our commitment to fostering innovation in the AI sector," said Morgan Good, CEO of Alset. "By providing Cedarcross with the necessary financial support, we aim to facilitate the growth of cutting-edge technologies that have the potential to revolutionize a multitude of industries."

 

"The strategic loan from Alset will enable Cedarcross to expand its infrastructure and fulfill the increasing demand for high-performance AI computing," said Jason Hawkins, CEO of Cedarcross. "With this capital infusion, we are well-positioned to continue our mission of democratizing access to advanced AI technologies and driving innovation across a multitude sectors."

 

The Company has a 49% ownership stake in Cedarcross and is a “related party” of the Company within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). As such, the Loan constitutes a “related party transaction” within the meaning of MI 61-101.

 

In mid-March, SAP SE (NYSE: SAP) and AI leader Nvidia (NASDAQ: NVDA) announced a partnership expansion focused on accelerating enterprise customers' ability to harness the transformative power of data and generative AI across SAP's portfolio of cloud solutions and applications.

 

From the news: The collaborating to build and deliver SAP Business AI, including scalable, business-specific generative AI capabilities inside the Joule® copilot from SAP and across SAP's portfolio of cloud solutions and applications – all of which are underpinned by the SAP generative AI hub. The generative AI hub facilitates relevant, reliable and responsible business AI and provides instant access to a broad range of large language models (LLMs).

 

From the news: As part of SAP's ongoing initiative to build generative AI directly into the applications that power the world's businesses, the partnership aims to help customers adopt generative AI capabilities at scale across their organizations. SAP will use Nvidia’s generative AI foundry service to fine-tune LLMs for domain-specific scenarios and deploy applications with new Nvidia NIM™ microservices. SAP and Nvidia plan to make the new integrated capabilities available by the end of 2024.

 

"Enterprise customers want to leverage state-of-the-art technology that delivers real business value," said Christian Klein, CEO and Member of the Executive Board of SAP SE. "Strategic technology partnerships, like the one between SAP and Nvidia, are at the core of our strategy to invest in technology that maximizes the potential and opportunity of AI for business. Nvidia's expertise in delivering AI capabilities at scale will help SAP accelerate the pace of transformation and better serve our customers in the cloud."

 

Supermicro, Inc. (NASDAQ: SMCI), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, just announced its latest portfolio to accelerate the deployment of generative AI. The Supermicro SuperCluster solutions provide foundational building blocks for the present and the future of large language model (LLM) infrastructure.

 

From the news: The three powerful Supermicro SuperCluster solutions are now available for generative AI workloads. The 4U liquid-cooled systems or 8U air-cooled systems are purpose-built and designed for powerful LLM training performance, as well as large batch size and high-volume LLM inference. A third SuperCluster, with 1U air-cooled Supermicro Nvidia MGX™ systems, is optimized for cloud-scale inference.

 

"In the era of AI, the unit of compute is now measured by clusters, not just the number of servers, and with our expanded global manufacturing capacity of 5,000 racks/month, we can deliver complete generative AI clusters to our customers faster than ever before," said Charles Liang, President and CEO of Supermicro. "A 64-node cluster enables 512 Nvidia HGX H200 GPUs with 72TB of HBM3e through a couple of our scalable cluster building blocks with 400Gb/s Nvidia Quantum-2 InfiniBand and Spectrum-X Ethernet networking. Supermicro's SuperCluster solutions combined with Nvidia AI Enterprise software are ideal for enterprise and cloud infrastructures to train today's LLMs with up to trillions of parameters. The interconnected GPUs, CPUs, memory, storage, and networking, when deployed across multiple nodes in racks, construct the foundation of today's AI. Supermicro's SuperCluster solutions provide foundational building blocks for rapidly evolving generative AI and LLMs."

 

VERSES AI Inc. (CBOE:VERS) (OTCQB:VRSSF), a cognitive computing company developing next-generation intelligent software systems announced in March that Blue Yonder, a leader in supply chain digital transformation has joined the Genius Beta program.

 

“Blue Yonder was one of the earliest partners to align with the VERSES vision so it's a natural progression to expand the relationship from using our Wayfinder solution into the Genius beta,” said Gabriel René, Founder and CEO of VERSES. “By leveraging Genius, Blue Yonder will be the first supply chain company to access advanced intelligent automation capabilities.”

 

Blue Yonder intends to implement Genius to better unify its expansive enterprise data into a common knowledge model on which to interrogate, simulate and automate optimal decision-making and workflows within warehouses and distribution centers.

 

Genius is a natural computing system modeled after a scientific breakthrough in understanding biological intelligence. Conventional artificial intelligence (AI) models excel at pattern recognition and reconstruction as a result of being trained on enormous data sets, and once trained are static. Conversely, Genius generates intelligent agents with substantially less training data that can learn, plan, and adapt autonomously in real time.

 

While AI has been a driving force for Blue Yonder, the company recognizes that adaptive intelligence is a key factor in helping its customers succeed. Blue Yonder’s participation in the Genius Beta program signals the company’s ongoing commitment to market leadership and innovation.

 

Valuates Reports says. “Using cloud-based AI to its full potential has become essential in the enterprise evolution environment, changing the way firms function. Cost savings, which are a result of AI being used in cloud computing, are one of these benefits that stand out for efficiency.”

 

For investors looking at the future potential of AI, no one can say you have your head in the ‘clouds’ if you bet on Nvidia. Now the hunt is on for what’s next.

 

Research more AI stocks with Investorideas.com free stock directory

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. 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. Disclosure: This article featuring Alset  is part of Investorideas.com paid for article content creation .Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

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Hybrid Aircraft Market Size Expected To Reach $13.2 Billion By 2030 As Demand Grows For Commercial Applications; @FNMgroup @KULRTech

Hybrid Aircraft Market Size Expected To Reach $13.2 Billion By 2030 As Demand Grows For Commercial Applications; @FNMgroup  @KULRTech

 

Palm Beach, FL – April 2, 2024 – FN Media Group News Commentary – According to a report from MarketsAndMarkets projected that the Hybrid Aircraft Market size is estimated to grow from USD 1.2 billion in 2023 to USD 13.2 billion by 2030, at a CAGR of 41.6% from 2023 to 2030.   It said: “The Hybrid Aircraft Industry is driven by factors such as increasing demand for short haul range connectivity, technological convergence and increasing demand for alternate modes of transportation.  Short-haul range connectivity refers to air travel over relatively short distances, typically between nearby cities or regions. These flights are usually within a few hundred to a few thousand kilometers, and they are commonly served by regional airlines or low-cost carriers. Short-haul flights are essential for connecting smaller cities, supporting regional economies, and providing convenient transportation options for travelers. Hybrid aircraft, especially those with electric propulsion systems as primary source, are well-suited for short-haul flights because they can operate with greater fuel efficiency compared to traditional aircraft. Electric propulsion systems have the potential to significantly reduce fuel consumption and operating costs, which is particularly attractive for airlines operating frequent short-haul flights.  Short-haul flights, despite their relatively short distances, can collectively contribute to a substantial carbon footprint due to the high number of takeoffs and landings involved. Hybrid aircraft offer the advantage of reduced emissions and lower noise levels, making them more environmentally friendly.

 

Read this in full at https://www.financialnewsmedia.com/hybrid-aircraft-market-size-expected-to-reach-13-2-billion-by-2030-as-demand-grows-for-commercial-applications/

 

Short-haul flights often operate in and out of airports located in or near urban areas. Hybrid aircraft, particularly those with electric propulsion, produce less noise during takeoff and flight, making them more suitable for operating in noise-sensitive regions. This can lead to reduced community opposition and support for expanding regional flight operations.”  Active defense stocks in news today include:  KULR Technology Group, Inc. (NYSE: KULR), Joby Aviation, Inc. (NYSE: JOBY), Lilium N.V. (NASDAQ: LILM), Archer Aviation Inc. (NYSE: ACHR), Blade Air Mobility, Inc. (NASDAQ: BLDE).

 

MarketsAndMarkets continued: “Hybrid-electric aircraft can have faster charging times compared to traditional aircraft refueling processes, which can be advantageous for airlines running frequent short-haul flights. This reduces turnaround times at airports, enabling more efficient flight scheduling and improved utilization of aircraft. Short-haul flights serve regional markets, connecting smaller cities and remote locations that may not have the infrastructure to accommodate large airports. Hybrid aircraft can offer flexible and economically viable solutions for regional air travel, supporting regional connectivity and economic development. High chance of Governments and regulatory bodies prioritizing and supporting the development and adoption of hybrid aircraft for short-haul flights could be seen in upcoming years. They recognize the potential environmental and economic benefits of such hybrid-aircraft in reducing emissions, noise pollution, and enhancing regional connectivity. As hybrid aircraft technology continues to advance, their capabilities, reliability, and performance improve, making them increasingly viable for short-haul operations. Advancements in battery technology, electric motors, and power management systems contribute to the feasibility of electric and hybrid-electric aircraft for regional flights.”

 

KULR Technology Group, Inc. (NYSE American: KULR) Secures Over $1M Contract from H55 for Proprietary, Patented Thermal Runaway Shield Technology – KULR Technology Group, (the “Company” or “KULR”), renowned for its contributions to sustainable energy management, today 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/).

 

Michael Mo, CEO of KULR, reflected on the significance of this collaboration. “Working with H55 epitomizes our commitment to setting new standards for safety in electric aviation. With H55, we reinforce our role in addressing the escalating compliance requisites from regulatory bodies such as EASA and the FAA. Our goal is to ensure our technology not only fulfills but also anticipates the evolving safety needs of the electric aviation sector.”

 

Martin Larose, CEO of H55, also acknowledged the positive side of this collaboration. “Tightening the relationship with KULR has marked a transformative step for us. The TRS technology from KULR has enabled us to push the safety norms and position H55 as a global leader. We are equipped to offer products that defy the rigorous requirements of EASA while preserving the high caliber and compactness our clients rely on. This synergy with KULR promises significant progress.”

 

According to a recent forecast, the global hybrid aircraft market is estimated to grow from USD 1.2 billion in 2023 to USD 13.2 billion by 2030, at a CAGR of 41.6% from 2023 to 2030.  KULR continues to pioneer revolutionary energy management solutions, propelling the electric aviation industry forward.  CONTINUED…  Read this entire press release and more news for KULR at:  https://www.financialnewsmedia.com/news-kulr/

 

In other defense industry developments of note:

 

Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, recently announced it has acquired an existing facility at Dayton International Airport and begun hiring in support of the Company’s initial manufacturing operations in Dayton, Ohio.

 

 

 

The facility acquired by Joby will be fitted out to support initial manufacturing operations in Dayton, which are expected to begin later this year. The facility will be used for the manufacturing of aircraft parts in support of Joby’s Pilot Production Line in Marina, California.

 

Joby’s acquisition of the on-airport facility is the first step in the Company’s plan to develop facilities capable of building up to 500 aircraft per year in Dayton, which is expected to include the design and construction of a larger greenfield factory.

Lilium N.V. (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, has recently teamed up with Atlantic Aviation, a leading fixed-based operation (FBO) and aviation services provider, to prepare Atlantic’s network of more than 100 FBOs for the Lilium Jet’s regional upcoming air mobility service launch in the United States.

 

This strategic partnership will work to ensure seamless compatibility between the Lilium Jet and Atlantic’s network of aviation assets across North America, enabling Advanced Air Mobility operations at current and future locations. Atlantic operates sites at more than 30 airport locations within Lilium’s planned launch markets in Florida, Southern California, the Northeast corridor, and Texas.

 

Archer Aviation Inc., (NYSE: ACHR) a leader in the development of electric vertical takeoff and landing (“eVTOL”) aircraft, recently announced the successful completion of rigorous battery pack drop testing conducted at a National Institute for Aviation Research lab. This marks a significant milestone in the development of the company’s proprietary electric propulsion system for its Midnight aircraft in what is seen as one of the most difficult tests to pass for an eVTOL aircraft, putting Archer in a strong position to successfully complete this same test in upcoming for-credit testing with the FAA.

 

Over the course of this week, Archer’s engineering and certification teams led Midnight’s proprietary battery packs through three 50-foot drop tests simulating extreme impact scenarios. Tested at varying states of charge, 0%, 30%, and 100%, the battery packs withstood the impact without any signs of failure and, remarkably, continued to function properly.

 

Blade Air Mobility, Inc. (NASDAQ: BLDE), recently announced financial results for the fourth quarter ended December 31, 2023.  “After a rewarding year of strong growth, flight profit margin expansion and cost structure improvements, we are now confident to begin providing guidance to our investors for positive Adjusted EBITDA for the year-ending December 31, 2024 and double-digit Adjusted EBITDA in 2025(2),” said Rob Wiesenthal, Blade’s Chief Executive Officer. “Though Q4 is a seasonally light quarter for Blade, we remained focused on continued margin enhancement and significant additions to our dedicated aircraft fleet, highlighted by the acquisition of eight jets for our organ transportation business. These initiatives will further improve our competitive positioning without compromising the benefits of our asset-light model, as the vast majority of our Medical flights and nearly 100% of our Passenger flights will continue to be serviced by third-party owned and operated aircraft.”

 

“We’ve made huge progress transitioning more and more of our Medical flights to dedicated aircraft that provide us with fixed cost leverage as we grow and are strategically based near our hospital customers,” said Will Heyburn, Blade’s Chief Financial Officer. “This is a win-win that has enabled us to increase our Flight Profit per trip while reducing costs for our hospital customers. When paired with our growing fleet of medical vehicles and new organ placement offering, we believe we’ve built the most cost-effective and reliable end-to-end organ logistics platform in the United States. At the same time, we improved our Passenger flight profit margins by five percentage points in Q4 2023 versus the prior year, demonstrating our path to full-year profitability in the Passenger segment, which we expect in 2025.”

 

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