Sumitomo Group

Allotrope Partners LLC, Axens North America and Sumitomo Corporation of Americas to Study Commercial Production of Low Carbon Biofuel Using Woody Biomass from Forest Thinning in California

Retrieved on: 
Tuesday, July 25, 2023
Carbon, Partnership, Hydrogen, Ethanol, SAF, Wildfire, RNG, Sale, CCU, EPA, Emission intensity, Ammonia, Risk, Biofuel, Knowledge, ACDC, Sumitomo Group, Environment, CO2, RED, Renewable energy, Axenic, Allotropy

The project will use feedstock based on local Californian forest thinning materials and agricultural residues.

Key Points: 
  • The project will use feedstock based on local Californian forest thinning materials and agricultural residues.
  • These feedstocks in part come from the waste generated in large forest fire prevention activities to reduce risk of wildfires that have become a critical challenge in California in recent years.
  • This project will produce a commercial grade bioethanol, while at the same time contributing to the reduction of carbon released into the atmosphere from the massive wildfires that have severely impacted the environment and residents in California.
  • "Allotrope is excited to continue its efforts to develop a series of advanced biofuels projects in California in partnership with Sumitomo and Axens," noted Marc Stuart, CEO of Allotrope Partners LLC.

Taichung Veterans General Hospital selects RayStation

Retrieved on: 
Friday, July 7, 2023
CBCT, Taipei Veterans General Hospital, MCO, Proton therapy, RaySearch Laboratories, Cancer, Radiation therapy, Patient, Hospital, Sumitomo Group, Sumitomo Corporation, Medical imaging, Q2

STOCKHOLM, July 7, 2023 /PRNewswire/ -- RaySearch Laboratories AB (publ) announces that the proton therapy machine vendor Sumitomo Corporate has placed an order for RayStation®* treatment planning system to be installed at Taichung Veterans General Hospital (TVGH), Taichung, Taiwan.

Key Points: 
  • STOCKHOLM, July 7, 2023 /PRNewswire/ -- RaySearch Laboratories AB (publ) announces that the proton therapy machine vendor Sumitomo Corporate has placed an order for RayStation®* treatment planning system to be installed at Taichung Veterans General Hospital (TVGH), Taichung, Taiwan.
  • TVGH will use a Sumitomo proton therapy machine with Sumitomo's compact next-generation system, to which RayStation will be adapted, enabling TVGH to utilize the new system's method for very fast delivery of treatment plans for the treatment of moving tumors.
  • Dr. Weir Chiang You, Chief of the Department of Radiation Oncology at Taipei Veterans General Hospital (TCVGH), says: "I am delighted to announce that TVGH will soon be incorporating the state-of-the-art Sumitomo proton therapy machine into our clinical practice.
  • Their premier product, RayStation, will provide our medical professionals with the tools they need to optimize patient treatment plans and improve therapy outcomes."

Berkshire Hathaway Increases its Passive Stakes in Each of Five Leading Japanese Trading Companies

Retrieved on: 
Monday, June 19, 2023
Other Retail, Other Energy, Professional Services, Utilities, Business, Energy, Other Manufacturing, Retail, Rail, Insurance, Transport, Finance, Manufacturing, Berkshire Hathaway, Mitsui, Hope, Itochu, Mitsubishi Group, National Indemnity Company, Marubeni, Investment, Security (finance), Cryptocurrency, Sumitomo Group

Presently these are the only publicly traded investments that Berkshire owns in Japan.

Key Points: 
  • Presently these are the only publicly traded investments that Berkshire owns in Japan.
  • Excluding shares of treasury stock, Berkshire Hathaway’s ownership interest in each of the five companies now averages more than 8½%.
  • This reporting of ownership interest is consistent with how Berkshire Hathaway reports its ownership interest in U.S. based publicly traded companies.
  • Depending on price, Berkshire Hathaway may increase its holdings up to a maximum of 9.9% in any of the five investments.

SMX Achieves 100% Year-To-Date Growth in Commercialization Driven by Client Adoption & Transformation Across Industries

Retrieved on: 
Wednesday, June 14, 2023
Mineral, Continental AG, Metal, Culture, Sunshine Minting, Silver, Mithril, Recycling, History, Forest, Steel, Sumitomo Corporation, Continental, Organization, Sunlight, US, Trust, Gold, Mining, The Queen's Award for Enterprise: Sustainable Development (Environmental Achievement), Growth, ESG, Sumitomo Group, Frost, Cryptocurrency, SMX

NEW YORK, June 14, 2023 /PRNewswire/ -- Security Matters plc (Nasdaq: SMX) ("SMX" or "the Company"), a global leader in transforming supply chain marking, tracking, and measuring technologies, reports rapid growth in client adoption, across multiple industries, of its proprietary technologies that allow clients and end-users to see the entire history and composition of materials, from virgin to recycled state, including how many times it's been recycled. This allows clients to better manage manufacturing challenges, address ESG concerns, and maintain sustainable growth. The Company achieved 100% year-to-date growth in commercialization due to increased adoption and experimental program conversions. As a result, SMX expects revenue growth in 2023. 

Key Points: 
  • The Company achieved 100% year-to-date growth in commercialization due to increased adoption and experimental program conversions.
  • "From fashion to natural rubber to metals and minerals, SMX technology enables companies to mark and digitize physical materials onto a private blockchain platform.
  • "SMX has made critical inroads in penetrating vital industry segments and driving client adoption, and we expect the momentum to continue," said Mr. Alon.
  • We are now seeing the beginnings of that adoption with clients integrating our technology into their supply chain management."

Sumitomo Corporation Expands Market Presence and Function in U.S. Sulfuric Acid Business with Acquisition of Saconix LLC

Retrieved on: 
Thursday, June 8, 2023
SC Group, Food, Gulf Coast of the United States, Sumitomo Corporation, SC, Agriculture, Sulfuric acid, Carbon, Sale, Acquisition, Investment, Mining, SATCO, Copper, Sumitomo Group, Textile, Lithium, Chemical

NEW YORK, June 8, 2023 /PRNewswire/ -- Sumitomo Corporation of Americas (SCOA) together with its parent, Sumitomo Corporation Japan (SC) announced its acquisition of Saconix LLC (Saconix), a company engaged in the procurement, sale, storage and distribution of sulfuric acid in the Western U.S. and the Gulf Coast region, expanding its market presence in the Sulfuric Acid business in North America.

Key Points: 
  • NEW YORK, June 8, 2023 /PRNewswire/ -- Sumitomo Corporation of Americas (SCOA) together with its parent, Sumitomo Corporation Japan (SC) announced its acquisition of Saconix LLC (Saconix), a company engaged in the procurement, sale, storage and distribution of sulfuric acid in the Western U.S. and the Gulf Coast region, expanding its market presence in the Sulfuric Acid business in North America.
  • Sumitomo Corporation of Americas together with its parent, Sumitomo Corporation Japan, has acquired Saconix LLC
    Sumitomo agreed to fully acquire Saconix from Dallas based owners, Copperbeck Energy Partners, a portfolio company of Tailwater Capital, LLC.
  • "We expect to provide additional value and high service to our customers through the strong synergies of our global Sulfuric Acid business."
  • This acquisition represents Sumitomo Corporation's ongoing commitment to expanding business and facilitating global carbon reduction to achieve carbon neutrality by 2050.

The Supply Crisis for Rare Earth Elements Intensifies

Retrieved on: 
Wednesday, June 7, 2023
Magnetism, United States Department of Defense, Uranium, International Energy Agency, Light, Energy & Fuels, PAETEC Holding Corp., Solvent, Acquisition, Magnet, Sumitomo Group, Rare-earth element, NYSE, U.S. Department of Defense Strategy for Operating in Cyberspace, SX, Attention, Element, MP, Oxide, NRDC, TSX, Growth, Alloy, REE, Carbon, UCU, Government, United States Army, Banyan, Rest, NEO, Metal, State government, Recycling, Republic, Editorial, CO2, Sumitomo Corporation, Petroleum, Renewable energy, Multi-core processor

NEW YORK, June 7, 2023 /PRNewswire/ -- The transition from fossil fuels to electrification has created a huge increase in demand for rare earth oxides and demand is expected to get much larger. Rare earth oxides are irreplaceable elements integral to permanent magnets, critical components in electric vehicles and sustainable power generation equipment, especially windmills. About 90% of all permanent magnets are currently produced in China, which is now considering banning or restricting exports of technology to process and refine rare-earth elements. Beijing is also pondering provisions prohibiting or limiting exports of alloy technology used in making high performance magnets made from rare earths minerals. As the transition to a cleaner world grows, China is restricting exports of permanent magnets and related tech in favor of feeding domestic demand, thus strangling the global transition. Governments in North America and across the world have voiced extreme urgency in reshaping supply chains to reduce dependence upon China and achieve clean energy mandates. Only a few companies can be called leaders in a nascent yet potentially explosive market. Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) (Profile) stands out with its transformative technology, RapidSX(TM), for separating and purifying critical metals. Also in the hunt for market share in this burgeoning new market is MP Materials Corp. (NYSE: MP), Neo Performance Materials Inc. (TSX: NEO), Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) and Li-Cycle Holdings Corp. (NYSE: LICY), all of which have established footholds and expanding operations in a concerted effort to shift away from reliance upon China and achieve energy independence.

Key Points: 
  • Rare earth oxides are irreplaceable elements integral to permanent magnets, critical components in electric vehicles and sustainable power generation equipment, especially windmills.
  • Against this backdrop, China's domestic market is experiencing a remarkable boom in the rare earth oxide (also often called rare earth elements, or REE) sector.
  • For more than 15 years, Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) has been an important part of the rare earth market, developing technology to disrupt the status quo of rare earth elements.
  • The company is now in a position to help solve the impending supply crisis by assisting with the creation of an independent supply chain of rare earth oxides for North American manufacturers.

The Supply Crisis for Rare Earth Elements Intensifies

Retrieved on: 
Wednesday, June 7, 2023
Magnetism, United States Department of Defense, Uranium, International Energy Agency, Light, Energy & Fuels, PAETEC Holding Corp., Solvent, Acquisition, Magnet, Sumitomo Group, Rare-earth element, NYSE, U.S. Department of Defense Strategy for Operating in Cyberspace, SX, Attention, Element, MP, Oxide, NRDC, TSX, Growth, Alloy, REE, Carbon, UCU, Government, United States Army, Banyan, Rest, NEO, Metal, State government, Recycling, Republic, Editorial, CO2, Sumitomo Corporation, Petroleum, Renewable energy, Multi-core processor

NEW YORK, June 7, 2023 /PRNewswire/ -- The transition from fossil fuels to electrification has created a huge increase in demand for rare earth oxides and demand is expected to get much larger. Rare earth oxides are irreplaceable elements integral to permanent magnets, critical components in electric vehicles and sustainable power generation equipment, especially windmills. About 90% of all permanent magnets are currently produced in China, which is now considering banning or restricting exports of technology to process and refine rare-earth elements. Beijing is also pondering provisions prohibiting or limiting exports of alloy technology used in making high performance magnets made from rare earths minerals. As the transition to a cleaner world grows, China is restricting exports of permanent magnets and related tech in favor of feeding domestic demand, thus strangling the global transition. Governments in North America and across the world have voiced extreme urgency in reshaping supply chains to reduce dependence upon China and achieve clean energy mandates. Only a few companies can be called leaders in a nascent yet potentially explosive market. Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) (Profile) stands out with its transformative technology, RapidSX(TM), for separating and purifying critical metals. Also in the hunt for market share in this burgeoning new market is MP Materials Corp. (NYSE: MP), Neo Performance Materials Inc. (TSX: NEO), Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) and Li-Cycle Holdings Corp. (NYSE: LICY), all of which have established footholds and expanding operations in a concerted effort to shift away from reliance upon China and achieve energy independence.

Key Points: 
  • Rare earth oxides are irreplaceable elements integral to permanent magnets, critical components in electric vehicles and sustainable power generation equipment, especially windmills.
  • Against this backdrop, China's domestic market is experiencing a remarkable boom in the rare earth oxide (also often called rare earth elements, or REE) sector.
  • For more than 15 years, Ucore Rare Metals Inc. (TSX.V: UCU) (OTCQX: UURAF) has been an important part of the rare earth market, developing technology to disrupt the status quo of rare earth elements.
  • The company is now in a position to help solve the impending supply crisis by assisting with the creation of an independent supply chain of rare earth oxides for North American manufacturers.

Troilus Outlines Plans for Its 2023 Summer Regional Exploration Program, Following Positive Developments in 2022; Robust Financial Position of ~$30m for Continued Project Development

Retrieved on: 
Wednesday, May 31, 2023
Regnault, Feasibility study, Route du Nord, Season, FSE, QA/QC, See, 10K run, Route, Outline, Gold, Acquisition, 20 kilometres, ICP-AES, NI, Anomaly, Prospection, NQ, TSX, TLG, Casimir-Amable Testard de Montigny, Mineral resource estimation, ALS, AA, Mining, Uranium mining, Road, Rare-earth element, Troilus, Exploration, Rocket, Sumitomo Group, Cressida

While the Company’s focus remains on the advancement and development of the formerly producing Troilus gold-copper project towards a mine restart, several prospective regional targets have been advanced to drill-ready status.

Key Points: 
  • While the Company’s focus remains on the advancement and development of the formerly producing Troilus gold-copper project towards a mine restart, several prospective regional targets have been advanced to drill-ready status.
  • The geological understanding of our property continues to improve, evidenced by the expansion of mineralization at existing prospective targets and new regional discoveries.
  • Previous work conducted at Testard returned some of the highest-grade gold occurrences in outcrop at Troilus, including 203 g/t gold.
  • Troilus plans to drill a more extensive program of approximately 3,000 metres at Testard during the 2023 field season.

Trailstone Welcomes Energy Industry Veterans to Lead Japanese Operations

Retrieved on: 
Wednesday, May 24, 2023
Software, Utilities, Data Analytics, Alternative Energy, Energy, Artificial Intelligence, Professional Services, Technology, EEX, European Energy Exchange, Japan Electric Power Exchange, Risk management, M&A, Nishi-Shinjuku, JEPX, Professional, Growth, Commercial, Shinjuku NS Building, METI, PPA, Sumitomo Group, Environment, Renewable energy, Cryptocurrency, Itochu

Kamisago brings over 25 years of experience in international business development with Sumitomo and Itochu, two of the largest Japanese trading and investment firms.

Key Points: 
  • Kamisago brings over 25 years of experience in international business development with Sumitomo and Itochu, two of the largest Japanese trading and investment firms.
  • He is an expert in M&A, new investment, infrastructure project management and new business incubation in the global energy industry.
  • Most recently, Kamisago led Sumitomo’s energy, environment and green hydrogen businesses as a general manager, gaining experience in both domestic and international business settings.
  • “Japanese power markets and renewable energy generators can benefit greatly from Trailstone’s extensive experience in Europe and the United States,” said Kamisago.

Poxel Reports Cash and Revenue for the First Quarter 2023 and Provides Corporate Update

Retrieved on: 
Wednesday, May 17, 2023
Biotechnology, Pharmaceutical, Health, Clinical Trials, Adrenoleukodystrophy, Prescription, Imeglimin, Adenosine, Plasma, Journal, JPY, Patient, Serono, Merck, POC, Sumitomo Group, Disease, Male, Business development, FY, Pharmacokinetics, Autosomal dominant polycystic kidney disease, American Association for the Study of Liver Diseases, USD, European Commission, Polycystic kidney disease, Kidney International, HIV disease progression rates, Fatty liver disease, ADPKD, FDA, IPF, Safety, Abstract, DPP4, ALD, ODD, JDS, Merck Serono, Biomarker, DSM-IV codes, AMN, Non-U.S. operators of the M60 Patton, IRIS, Sumitomo Pharma, SGLT2, VLCFA, Life Sciences (journal), Regulation of tobacco by the U.S. Food and Drug Administration, Food, Autosome, Pharmaceutical industry, Bank, Management, EUR, Euronext

POXEL SA (Euronext: POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, today provided a corporate update and announced its cash position and revenue for the first quarter ended March 31, 2023.

Key Points: 
  • POXEL SA (Euronext: POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and rare metabolic disorders, today provided a corporate update and announced its cash position and revenue for the first quarter ended March 31, 2023.
  • Thomas Kuhn, Chief Executive Officer of Poxel, stated: “This quarter we successfully restructured our debt obligations and increased our financial flexibility with a new equity-linked financing with IRIS.
  • For the Sumitomo FY 2023, as a conservative assumption in line with Sumitomo’s forecast, Poxel expects to receive 8% royalties on TWYMEEG net sales.
  • As of March 31, 2023, cash and cash equivalents were EUR 10.6 million (USD 11.6 million), as compared to EUR 13.1 million (USD 14.0 million) as of December 31, 2022.