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$EVGIF Featured in Adelaide Capital Biofuels & Renewable Energy Panel

EverGen (TSX.V: EVGN) (OTCQB: EVGIF), Canada’s renewable natural gas (“RNG”) infrastructure platform, was recently featured in a virtual biofuels & renewables focused session with a keynote followed by three 20-minute company presentations and a 30-minute panel. EverGen’s co-founder and CEO Chase Edgelow joined the session with host Deborah Honig to discuss the portfolio of assets the company has built over the previous two years. EverGen has built these assets with the view that it is operating at the intersection of organic waste, which needs a long-term sustainability focused solution versus traditional land-filling organics, as well as providing green energy through renewable natural gas. Edgelow further discusses EverGen’s particular focus on Canada.

To view the session, visit https://ibn.fm/Ch6jJ

About EverGen Infrastructure Corp.

EverGen, Canada’s renewable natural gas infrastructure platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast, EverGen is an established independent renewable energy producer, which acquires, develops, builds, owns and operates a portfolio of renewable natural gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond. For more information about EverGen and its products, visit www.EverGenInfra.com.

NOTE TO INVESTORS: The latest news and updates relating to EVGIF are available in the company’s newsroom at http://ibn.fm/EVGIF

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Monday, June 27th, 2022 News No Comments

$LEXX Expands Reach of its Drug Delivery Technology Through Newly Inked Agreements with Beverage Developer BevNology

  • Drug delivery technology innovator Lexaria Bioscience has developed a patented technology showing superiority in animal and human testing as a means of improving existing drug brands’ performance and establishing new solutions for unmet medical needs
  • The company recently announced agreements with beverage developer BevNology to expand production capabilities for Lexaria’s own growing list of B2B clientele and empowering BevNology to offer DehydraTECH products with active ingredients derived from hemp including CBD under BevNology and partnered brands
  • The technology is called DehydraTECH — improving the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery
  • Lexaria also recently announced an agreement with Ireland’s Anodgen Bioceuticals that allows Anodgen to manufacture and distribute DehydraTECH processed cannabinoid API powders within Europe including the UK, Australia and New Zealand

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, has built the reputation of its patented DehydraTECH drug delivery technology through a growing data set of potential medicinal applications and through an expanding list of licensing agreements with third-party companies interested in its potential for cannabidiol (“CBD”)-based products.

Lexaria’s patented DehydraTECH technology transforms a wide variety of orally and topically administered products into enhanced solutions that make the APIs more rapidly available and effective at lower doses while adding zero chemical byproducts.

Among the licensing partnerships announced by the company are recent agreements with beverage developer BevNology and Ireland API manufacturer and distributor Anodgen Bioceuticals.

The BevNology collaboration was announced June 21 and not only includes a commercial license agreement for products with active ingredients derived from hemp under BevNology’s brand, but also a manufacturing operating agreement utilizing BevNology’s new, custom-built state-of-the-art processing facility outside Atlanta.

“These agreements build on a long standing and very successful product development consulting relationship between Lexaria and the expert scientists and personnel at BevNology,” Lexaria CEO Chris Bunka stated in announcing the BevNology development (https://cnw.fm/6it3Q). “BevNology’s formulation and production capabilities are class leading and we are confident that our new relationship with our trusted partner will propel new and exciting growth opportunities for both companies.”

The manufacturing agreement will help Lexaria broaden its production capabilities for its own growing list of B2B clientele interested in purchasing DehydraTECH-powered active ingredients for consumer packaged-goods brands.  Lexaria has already installed all required commercial DehydraTECH manufacturing equipment at the facility.

The licensing agreement addresses powdered DehydraTECH formulations and liquid formulations that tend toward BevNology’s particular expertise. Both elements of the agreement are non-exclusive, except that the liquid formulations have limited exclusivity in the United States and complete exclusion in Japan, the Republic of Korea, and the People’s Republic of China.

The Anodgen licensing agreement was announced earlier in the month and includes a five-year non-exclusive DehydraTECH license for powdered CBD-based products in Europe including the United Kingdom, Australia, and New Zealand.

Under the license, Anodgen can use DehydraTECH not only for making and selling medical application CBD products but also pharmaceutical applications for psychoactive cannabinoids (https://cnw.fm/JjYBn). Anodgen is building a new facility in Ireland and expects to be fully operational later this year, creating the potential for long-term use of DehydraTECH for the pharmaceutical market.

Independent third-party testing has evidenced DehydraTECH’s ability to enhance the performance of a variety of pharmaceutical and wellness industry products and has led to a pre-Investigational New Drug (“IND”) meeting with the U.S. Food and Drug Administration (“FDA”) to file DehydraTECH-CBD as a prospective registered treatment for hypertension this year (https://cnw.fm/M6RAk).

For more information, visit the company’s website at www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

About CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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Monday, June 27th, 2022 News No Comments

$FLGC 420 with CNW – NIDA Seeks Help in Creating Nationwide Registry of Medical Cannabis Use

By the end of last year, more than 30 states had launched some kind of medical cannabis market. But with each state independently passing its own policies, this has led to a patchwork of different medical cannabis legislation across the country. Last week, a top federal agency revealed that it plans on creating a countrywide medical cannabis registry that would allow it to study how patients use medical marijuana.

The National Institute on Drug Abuse (NIDA) has pledged to provide funding worth $1.5 million to researchers to help them develop a nationwide medical cannabis registry capable of tracking how medical cannabis patients in all legal states obtain and use medical cannabis as well as their medical outcomes. As NIDA stated in its request for applications (RFA), three-quarters of the states in the country have legalized medical cannabis, although each state has varying conditions regarding qualifying medical conditions and the types of medical marijuana products patients are allowed to use.

This patchwork landscape makes it extremely difficult for the agency to analyze medical cannabis use and how it is impacting the public. The information that is available is not standardized and cannot be used to understand the broader health outcomes associated with medical cannabis use, the agency explained.

NIDA also noted that there is little standardized information regarding the medical marijuana products being used because of lax laws surrounding labeling. As such, the agency will need to collect all the relevant information on medical cannabis products.

This registry will allow NIDA to study how different medical cannabis products affect patients and obtain a clearer idea of potential risks and benefits. According to the agency’s request for applications, the objective of this new information-gathering process is to find out which medical marijuana products are being used, the reasons why they are being used and the outcomes of use.

The agency is looking for a wide dataset from the medical cannabis industry that includes cannabis strains, cannabis forms, delivery methods, most prevalent cannabinoids, medical marijuana card status and the symptoms being addressed by medical cannabis treatment. NIDA is also interested in information pertaining to changes in other pharmaceutical and illicit drug use after the onset of medical marijuana treatment, as well as interactions between cannabis and other drugs.

Researchers who would like to take part in creating the registry and keeping it up to date can begin submitting applications on Oct. 15, 2022. They will be allowed to send in their applications for NIDA funding until Nov. 16, 2022.

These moves by federal agencies such as NIDA offer a ray of hope that real reforms may not be far off and industry actors, such as Flora Growth Corp. (NASDAQ: FLGC), may finally have a framework within which to operate nationally.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Monday, June 27th, 2022 News No Comments

$KSCP Announces the Scout Referral Program

Security Innovator Pays its Scouts for Qualified Leads that Convert to Deployments

Knightscope, Inc . [Nasdaq: KSCP], a developer of advanced physical security technologies focused on enhancing U.S. security operations, today announced a new referral program called “Scout” that will pay a referral fee to those who sign up for the Scout program and provide qualified leads.

Knightscope Announces the Scout Referral Program (Photo: Business Wire)Knightscope Announces the Scout Referral Program (Photo: Business Wire)

In a recent analysis of new and prospective clients that included the question, “how did you hear about Knightscope?”, most respondents answered, “when Knightscope contacted us.” The Company investigated further and found that participants had not heard about Knightscope, nor did they know that such cutting-edge crime-fighting technology even existed until one of the Knightscope team reached out directly.

To remedy that problem, Knightscope is launching the Knightscope Scout program – a referral program to generate new business. Interested parties who sign up for the program must make a proper introduction to a prospective client by providing qualified information and data with Knightscope’s guidance. If the client signs an annual contract, the Company will pay $1,000 per autonomous security robot once deployed (subject to terms and conditions).

Sign up at www.knightscope.com/scout to learn more.

About Knightscope

Knightscope is an advanced security technology company based in Silicon Valley that builds fully autonomous security robots that deter, detect and report. Knightscope’s long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com . Follow Knightscope on Facebook Twitter LinkedIn and Instagram .

Forward Looking Statements

This press release may contain ”forward-looking statements” about Knightscope’s future expectations, plans, outlook, projections and prospects. Such forward-looking statements can be identified by the use of words such as ”should,” ”may,” ”intends,” ”anticipates,” ”believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” ”proposes” and similar expressions. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements except as may be required by law.

Monday, June 27th, 2022 News No Comments

$GMGI Grows Quarterly Net Income by Over 359% Yoy, Sees Margins Widen by Nearly 43%

  • Golden Matrix Group recently reported its 15th consecutive quarter of profitability
  • GMGI’s second quarter revenues rose 221% YoY with net income expanding by upwards of 359% YoY
  • GMGI attributed the rise in revenues to the added contribution from UK-based competition company, RKingsCompetitions Ltd, which Golden Matrix acquired in November 2021
  • Management expressed their continued optimism on GMGI’s future prospects, with the company’s B2B and B2C verticals both showing robust growth

Fifteen consecutive quarters of profitability is a remarkable feat; even Amazon, the world’s largest e-commerce operator, reported a net loss over the past three months. Moreover, Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, achieved the feat in impressive fashion. The company recently reported financial results for its second fiscal quarter, with quarterly revenues rising by 221% year-over-year to $8,482,743. Meanwhile, Q2 net income rose to $586,984, a significantly increase relative to the $127,986 recorded in the equivalent period a year ago (https://ibn.fm/fBB9z).

Golden Matrix Group attributed part of the significant increase in year-over-year revenues to the 28% increase in GMGI’s B2B segment’s top-line, in addition to strong revenue contributions from RKings. Golden Matrix Group acquired an 80 percent controlling stake in UK-based RKingsCompetitions Ltd in November 2021, with the company contributing 60 percent of GMGI’s total revenues in the quarter.

Notably, GMGI also recorded a significant boost to their net income margin, with the latter figure expanding from 4.85 percent in Q2 last fiscal year to 6.92 percent in the most recent quarter. Perhaps more impressively, the company’s net margin widened despite a significant rise in GMGI’s cost base, with general and administrative expenses rising 321 percent year-over-year to $1,380,706 in the most recent quarter. The increase in costs was primarily due to G&A expenses arising from the RKings acquisition, which included payroll costs as well as bank charges for transaction fees.

“We are pleased with the financial results of our second quarter as a company with both B2B and B2C verticals,” said Golden Matrix CEO Brian Goodman. “During the quarter we implemented upgraded technology and stronger accounting controls to improve cash flow and profitability at RKings. With the Tournament Platform’s added features and functionality, we expect steady increases in both the monthly number of skill tournaments and participants; and, because this robust platform gives RKings’ tournament players immediate access to a growing number of exciting prize competitions, we expect this third quarter and future quarters to generate increasing revenues and profits.

GMGI has recently targeted its efforts on growing out both, their B2B and B2C verticals in recent months. On the B2B side, the company recently announced the launch of their revamped GM-X turnkey solution, a complete software package designed to support online gaming businesses. Benefitting from their partnership with upwards of 25 providers, GMGI have established a robust portfolio of over 10,000 games ranging from online slots, casino table games, live operator games, and more, which are then licensed to gaming platform operators seeking to operate a proven set-up.

Golden Matrix Group have also simultaneously sought to grow out their B2C segment, most recently through the acquisition of RKingsCompetitions Ltd. In addition to contributing approximately $5.1 million of the group’s total revenues for the quarter, RKings’s unique competitions have also resulted in GMGI acquiring over forty five thousand new players a quarter at relatively low cost – a crucial factor towards growing out their addressable consumer universe going forward.

For more information, visit the company’s website at www.GoldenMatrix.com.

NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI

About TinyGems

TinyGems is your guide to the best and brightest in the under-appreciated small-cap sector. As one of 50+ brands within the InvestorBrandNetwork (“IBN”), TinyGems provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to reach millions of social media followers; and (5) a full array of corporate communications solutions. It’s time to uncover some of the best-kept secrets on Wall Street. TinyGems features innovative small-cap companies with huge potential, putting a spotlight on the best and brightest of these disruptors that have the technology, the talent, the drive, and the business models to make a huge impact in the markets and in portfolios. Whether it’s a game changing technology, a new more profitable product or service, or a star in a hot sector, TinyGems is the go-to source for actionable intelligence.

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Monday, June 27th, 2022 News No Comments

$CYBN Why More Attention Needs to Be Paid to Paternal Mental Health

We know that pregnancy, giving birth and navigating the first few months as a mother can have an immense toll on women’s mental health. In recent times, there has been an increased push to provide resources for new mothers to help address mental health issues such as postpartum depression. Fathers don’t seem to be getting the same kind of support and resources even though they too experience a multitude of emotions and mental health outcomes after their children are born.

Unlike the old days when families had strictly defined gender roles and fathers weren’t as actively involved in their children’s upbringing, plenty of modern fathers are pulling up their sleeves and jumping into the trenches of active and involved fatherhood. More dads are actively involved in parenting of their children, with a survey finding that more than 80%  of modern fathers were actively involved in day-to-day parenting activities.

While this shift is a major win for the new generations of fathers, it has also created an issue affecting modern fathers: unaddressed mental health. In the first year of his child’s life, a father’s brain will undergo a variety of changes as the level of stress hormones such as prolactin and vasopressin increases and testosterone levels drop.

On top of the stress of taking care of and providing for a new child, working dads also have to contend with stressors from their workplace. As such, juggling family responsibilities with work and workplace politics can have a negative effect on the mental health of working fathers.

More than 35% of parents reveal that balancing work and family has resulted in negative mental health outcomes. But while mothers are often provided with maternal leave to recover from the birth and take care of their newborns, fathers are often expected to continue working even having a baby, with little or no time off.

According to a report from Boston College Center for Work and Family,  more than 90% of working fathers felt that their supervisors didn’t expect any change in their working patterns after they became parents.

However, new fathers often have to wrestle with complex psychological issues such as their relationship with their own fathers as well as handling emotional uncertainty and the impending responsibility of fatherhood, resulting in high levels of stress and anxiety. If they rely solely on their wives for emotional intimacy and support and don’t have enough outside support, their desire for connection may not be fulfilled as parenting claims center stage.

Ensuring fathers have access to mental health resources before and after becoming parents can help them deal with negative postnatal mental health outcomes.

The novel mental health treatments being developed by entities such as Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) may be helpful to those who are found to have been adversely affected by the process of new parenthood.

NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) are available in the company’s newsroom at https://ibn.fm/CYBN

About BioMedWire

BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.

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Monday, June 27th, 2022 News No Comments

$CYBN Moving Forward with Phase 1/2a Clinical Trial after Receiving Key FDA Approval

Cybin (NEO: CYBN) (NYSE American: CYBN), a biotechnology company focused on progressing psychedelic therapeutics, has received approval from the U.S. Food and Drug Administration (“FDA”) to proceed with its phase 1/2a first-in-human clinical trial evaluating CYB003; the company has received a “may proceed” letter and investigational new drug application (“IND”) clearance from the FDA. The approval means that CYB003 will be the first  novel psilocybin analog to enter clinical development, with patient recruitment beginning immediately and pharmacokinetic and safety data readout anticipated by fourth quarter 2022. According to the announcement, Cybin’s CYB003 is a proprietary deuterated psilocybin analog being developed for possible treatment of major depressive disorder (“MDD”). A randomized, double-blind, placebo-controlled study, Cybin’s upcoming phase 1/2a trial is designed to evaluate people with moderate to severe MDD. During the trial, study participants will receive two administrations (placebo/active and active/active) with a response/remission being assessed after the first dose at week 3 and after the second dose at week 6. “We are extremely pleased to advance CYB003 into clinical development so quickly,” said Cybin CEO Doug Drysdale in the press release. “Our team has worked diligently to achieve this major regulatory milestone, and we look forward to collaborating with Clinilabs, our drug development partner, to accelerate this program. This phase 1/2a trial represents the first time that a psilocybin analog will be evaluated for the treatment of MDD and is the key next step toward our ultimate goal of providing a new and effective treatment for people suffering with mental health conditions. . . . Multiple academic studies have shown that psychedelic-based treatments, like psilocybin, may have the potential to revolutionize mental healthcare, but few companies have addressed the well-known limitations and side effects of oral psilocybin. We believe CYB003 has the potential to offer people in need with a more tolerable and potentially more effective treatment option. We look forward to advancing this important compound through clinical development.”

To view the full press release, visit https://ibn.fm/6DRmC

About Cybin Inc.

Cybin is a leading ethical biotechnology company, working with a network of world-class partners and internationally recognized scientists and on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom and Ireland. The company is focused on progressing psychedelics to therapeutics(TM) by engineering proprietary drug-discovery platforms, innovative drug-delivery systems, and novel formulation approaches and treatment regimens for mental-health disorders. For more information, visit the company’s website at www.Cybin.com.

NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at http://ibn.fm/CYBN

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Monday, June 27th, 2022 News No Comments

$CPTN Expands Collaboration Efforts with Tier 1 Supplier of Automotive Lighting Equipment

Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance MMT(R) lidar solutions, and Koito Manufacturing Co. Ltd (TSE: 7276), a leading automotive lighting equipment tier-1 supplier, jointly announced their intention to expand existing collaboration efforts to include select future Cepton lidar products and go-to-market activities. According to the update, detailed commercial terms are under discussion. “In the past five years, our team has successfully collaborated with Koito to commercialize and scale the manufacturing of Cepton’s lidar technology,” said Jun Pei, Cepton’s co-founder and CEO. “Expanded collaboration will further strengthen the Koito-Cepton partnership and better positions both companies to address the opportunities in the automotive and non-automotive markets. I am honored and excited to deepen our relationship for the long run.”

To view the full press release, visit https://ibn.fm/xEbeY

About Cepton Inc.

Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (“ADAS/AV”), smart citiessmart spaces and smart industrial applications. With its patented Micro Motion Technology (“MMT(R)”), Cepton aims to take lidar mainstream and achieve its vision of safe and autonomous transportation for everyone. Cepton has been awarded the largest known ADAS lidar series production award in the industry to date, based on the number of vehicle models awarded, to support General Motors’ Ultra Cruise program. Cepton is also engaged with all other Top 10 global OEMs. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high performance, high quality lidar solutions. Cepton is headquartered in San Jose, California, and has a center of excellence facility in Troy, Michigan, to provide local support to automotive customers in the Metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information, visit the company’s website at www.Cepton.com.

NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at http://ibn.fm/CPTN

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

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Monday, June 27th, 2022 News No Comments

$CPTN a Leader in Lidar, Continues to Execute on its Core Strategic Milestones Across Automotive & Smart Infrastructure

  • Cepton develops lidar sensors for ADAS and autonomous driving, and has been awarded the largest lidar production contract to date with products set to debut next year across General Motor’s Ultra Cruise ADAS platform
  • Award covers 4 target vehicle models in 2023, 4+ models in 2024, and an anticipated 4+ models in 2025 with Cadillac being the first to introduce the Ultra Cruise technology
  • Cepton’s proprietary MMT(R) technology provides a highly competitive price for performance and reliability
  • Founder-led, visionary management team with substantial “skin in the game”

Since becoming public in early 2022, Cepton (NASDAQ: CPTN) has not deviated from its plan to be a leader in lidar. The Silicon Valley-based company made D-sample shipments in Q1 in support of GM’s Ultra Cruise program, which is the final stage before scale production, and is on-track to potentially be the world’s first lidar company to have its products found in consumer vehicles.

Lidar, an acronym for light detection and ranging, is a remote sensing technology that bounces light off surrounding objects to accurately create a map of the environment. Lidar has been around for decades and has emerged as an integral component in advanced driver assistance systems (“ADAS”) and autonomous vehicles. In addition, lidar can be used in various non-automotive applications, enabling smart cities, automated tolling, last-mile delivery, autonomous trucking, robotics, etc.

High cost has been one major problem with lidar systems for automakers, reserving it to only high-end models. Cepton has helped address this issue with its MMT(R) (micro-motion technology) lidar system, which was developed with mass market consumer vehicles in mind and has attracted the attention of top automotive OEMs (original equipment manufacturers) and Koito Manufacturing, a leading tier-1 automotive lighting supplier that has invested $100 million in Cepton.

Cepton along with its tier-1 partner Koito Manufacturing is the recipient of the largest known ADAS lidar series production award to date with its lidar systems integrated into GM’s Ultra Cruise program. This program is expected to be released in 2023 on select GM vehicles with Cadillac being the first to introduce the technology. The Ultra Cruise advanced driver assist system is designed to enable door-to-door hands-free driving in 95 percent of all driving scenarios in North America.

GM has agreed to use Cepton lidar products for its first 9 models that will offer Ultra Cruise in 2023 and 2024 and the companies are collaborating on potential additional models that will be introduced in 2025 and beyond. Cepton is currently engaged with all top 10 automotive OEMs worldwide.

Cepton is advancing multiple projects worldwide in smart infrastructure. For example, Cepton partnered with The Indoor Lab to provide real-time crowd analytics at Orlando International Airport, which helped create one of the world’s safest terminals during the COVID-19 pandemic, covering roughly 50K square feet of terminal area. Cepton has recently worked with Fibre Based Integrations, an established fiber optics system house in South Africa to develop a lidar-based vehicle detection system in Cape Town to monitor lane usage.

Cepton continues to invest in developing its portfolio of next generation products and technologies including its near range lidar, Nova, which were shipped to multiple global top-10 automotive OEMs (B-samples) for evaluation this quarter. The company also recently completed the architecture design for its second ASIC with tape out expected by the end of the year. This ASIC is a scalable companion chip to Cepton’s first ASIC with an emphasis on electronics component integration that reduces cost and dependency on the electronics supply chain.

Cepton announced this month the opening of its new corporate office in Metro Detroit (Troy, MI) to serve as its automotive hub as the company continues to expand its active engagements and initiatives with OEMs.

For more information, visit the company’s website at www.Cepton.com.

NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN

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Monday, June 27th, 2022 News No Comments