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Smartphone Maker Xiaomi Confirms EV Venture, Plans $10B Investment Over 10 Years

Benzinga

The Daily Biotech Pulse: Wave Life Sciences Pulls Plug On 2 Assets, Amarin’s Vascepa Snags European Approval, Biocept Jumps On Earnings

Here’s a roundup of top developments in the biotech space over the last 24 hours: Scaling The Peaks (Biotech Stocks Hitting 52-week Highs March 29) Edgewise Therapeutics, Inc. (NASDAQ: EWTX) (went public Friday) Gain Therapeutics, Inc. (NASDAQ: GANX) GW Pharmaceuticals plc (NASDAQ: GWPH) Universe Pharmaceuticals INC (NASDAQ: UPC) Down In The Dumps (Biotech Stocks Hitting 52-week Lows March 29) 4D Molecular Therapeutics, Inc. (NASDAQ: FDMT) AbCellera Biologics Inc. (NASDAQ: ABCL) Adagene Inc. (NASDAQ: ADAG) ADMA Biologics, Inc. (ADMA) Avidity Biosciences, Inc. (NASDAQ: RNA) Bellerophon Therapeutics, Inc. (NASDAQ: BLPH) Chiasma, Inc. (NASDAQ: CHMA) Decibel Therapeutics, Inc. (NASDAQ: DBTX) Epizyme, Inc. (NASDAQ: EPZM) Evaxion Biotech A/S (NASDAQ: EVAX) Freeline Therapeutics Holdings plc (NASDAQ: FRLN) Fusion Pharmaceuticals Inc. (NASDAQ: FUSN) Gracell Biotechnologies Inc. (NASDAQ: GRCL) IMARA Inc. (NASDAQ: IMRA) Kala Pharmaceuticals,

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China smartphone maker Xiaomi to make investments $10 billion in new EV device around 10 many years

SHANGHAI (Reuters) -Chinese smartphone maker Xiaomi Corp has formally entered the automotive business with a new good electrical vehicle (EV) small business, the company announced on Tuesday in a submitting.

FILE Photo: The brand of Xiaomi is noticed inside of the firm’s business in Bengaluru, India, January 18, 2018. REUTERS/Abhishek N. Chinnappa

The company will originally spend 10 billion yuan ($1.52 billion) in the wholly-owned subsidiary, with a whole investment aim of $10 billion more than the future 10 several years.

Xiaomi CEO Lei Jun will also serve as CEO of the smart electric powered motor vehicle device, the enterprise additional.

The company’s shift into the EV industry follows comparable steps by other tech giants, both in China and overseas.

In January, Chinese look for big Baidu Inc announced it would produce an EV unit by way of a partnership with domestic car maker Geely Auto Holdings Ltd.

In February,

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NFL, Partnership Fund for NYC lead $100M financial investment in maker of Covid wellbeing go app

Clear is positioning its Well being Pass know-how as the answer to safely reopening the dining halls, place of work structures, accommodations and athletics arenas owned or represented by its new investors. Well being Go application combines facial, fingerprint and iris scans to quickly cross-reference people’s identities with their health data.  

 

The company released the app in the spring of 2020 as its main enterprise of assisting buyers speed as a result of airport security checkpoints came to a around standstill since of Covid-19.

 

The Wellness Go application is absolutely free to obtain and calls for customers get a selfie to verify their identification. Just before getting into a building utilizing the application, a short quiz asks customers about prospective signs and symptoms. An airport-type kiosk then scans every visitor’s facial area and checks his or her temperature.

 

The application gives the possibility to demand a current detrimental Covid-19 check

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Is Rivian the Subsequent Tesla? Traders Bet Big on Electrical Truck Maker

One more huge development reshaping the auto business is autonomous autos. On Tuesday, Cruise, a unit of G.M. that is performing in that location, announced it experienced elevated $2 billion from Microsoft, G.M., Honda and other investors. Rivian and Tesla are also functioning on automated-driving technology.

Rivian is different from Tesla in quite a few respects. Tesla so significantly has developed by promoting sporty sedans, a form of car or truck that is falling out of favor with buyers. Tesla intends to commence creating an oddly angular, futuristic pickup, the Cybertruck, this yr. But it has not nonetheless place weighty concentrate on the vans and S.U.V.s that make up 75 % of the passenger car or truck industry in the United States.

Rivian, on the other hand, is focused on making “adventure” automobiles that homeowners can choose off highway, an approach that means Rivian will not generally contend head to

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Pine Bluff pellet maker lands $135 million capital investment decision

Highland Pellets LLC introduced Wednesday (Dec. 9) a strategic money partnership with Orion Strength Partners, L.P. to fund the expansion and improve of its current wooden pellet facility in Pine Bluff, Arkansas as nicely as present funds for extra long-term growth initiatives.

The capital expense from Orion Vitality is $135 million.

The facility is supported by a prolonged-term agreement with a main European electric power producer and, when comprehensive, will be able of producing up to 675,000 metric tonnes of sustainably sourced wood pellets for every calendar year.

Highland Pellets is a Pine Bluff-dependent wooden pellet producer that materials sustainably-sourced renewable biomass for export where by it is applied as fuel for renewable foundation load electric power creation at a converted coal ability plant. The Highland facility was at first completed in 2017 and is presently going through gear upgrades to improve operational effectiveness and increase creation potential.

Highland Pellets

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Useful beverage maker secures $14.5 million expense | 2020-11-16

MINNEAPOLIS — So Very good So You, a maker of top quality refrigerated wellbeing pictures, has shut a $14.5 million funding spherical led by Prelude Progress Companions.

So Superior So You options to use the new money to grow its nationwide get to in-retail outlet and through e-commerce and to support new solution progress.

Launched in 2014 by Rita Katona and her spouse Eric Hall, So Superior So You gives plant-based practical drinks that are chilly-pressed and made to guidance functions such as immunity, vitality, slumber and elegance. Each individual of the brands juice shots is made with USDA certified natural and organic, Non-GMO Job confirmed substances and contains a person billion CFUs of probiotics. So Fantastic So You wellness pictures are offered in far more than 4,500 retailers in 47 states, such as Focus on, Publix, Sprouts Farmers Market and Safeway.

“The wellness shot category is increasing exponentially thanks

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