Day: July 15, 2021

Autonomous heavy equipment pioneer continues global expansion into key markets, bolsters executive team

MILPITAS, Calif., July 15, 2021 (GLOBE NEWSWIRE) — SafeAI, a global leader in autonomous heavy equipment, today announced continued global expansion with its entry into Canada. To accelerate growth internationally, including in Canada, today SafeAI also announced that David Prusinski has joined the company as Chief Revenue Officer.

With booming construction and mining industries, Canada is a natural next step for SafeAI’s growing business. Canada’s mining industry is one of the largest in the world, accounting for 7.8% of the country’s GDP in 2020. The country’s construction sector is also a leading contributor to the nation’s GDP, with continued opportunities for growth due to government-funded infrastructure projects. With its connected autonomous technology, SafeAI is poised to accelerate productivity in the nation’s heavy industry.

“At SafeAI, we believe autonomy has the power to create smarter, safer, more productive heavy industry. With flourishing construction and mining sectors, Canada is a natural fit for our business,” said Bibhrajit Halder, Founder & CEO at SafeAI. “As we continue to grow our business to meet rising demand for autonomy, we’re proud to also expand our executive team. With years of leadership experience, a proven track record of spearheading growth, and knowledge of the Canadian market, David brings an invaluable perspective to our team as we continue to scale our organization and transform off-road autonomous projects globally.”

Prusinski brings 25 years of experience driving growth at prominent technology companies across Canada to the CRO role. Prior to joining SafeAI, he worked for nine years at Fleet Complete, one of the fastest-growing providers of connected commercial vehicle solutions. Before that, he also held leadership roles at BlackBerry and InSystems.

“Heavy industry is on the brink of a period of mass adoption for autonomous technology,” said Prusinski. “Now that we’ve seen the value and impact of automation for safer, more efficient construction and mining sites, there is no going back. Today, I’m excited to join the team at SafeAI to drive continued expansion and help companies worldwide unlock the value of connected autonomy to improve safety, reimagine workflows, and power results.”

Expansion into Canada comes on the heels of a year of significant growth for SafeAI as the company accelerated off-road deployment of autonomous technology. In late 2020, the company announced partnerships with industry leaders—including Obayashi and The Goodyear Tire & Rubber Company—to expand its ecosystem and more effectively deliver autonomy at scale. Earlier this year, SafeAI announced its expansion into Australia, the world’s largest mining market, and the addition of several new executives to lead the charge. Most recently, the company announced $21 million in Series A funding to accelerate research and development and global growth.

To learn more about SafeAI’s technology, or to get the latest updates, please visit safeai.ai.

About SafeAI
SafeAI is a global autonomous heavy equipment leader focused on advancing modern industry. SafeAI retrofits heavy equipment for autonomous applications in mining and construction to serve a massive ecosystem of industry players with complex needs. By building a software platform with the most advanced, industry-specific AI, SafeAI enables equipment owners to transform existing machines into self-operating robotic assets. The company currently is running an autonomous CAT 725 at a quarry in California. SafeAI is based in Milpitas, CA.

Contact
LaunchSquad for SafeAI
safeai@launchsquad.com

Forging the future with better sugar reduction solutions for food and beverages in the region.

Rancho Santa Margarita, Calif., July 15, 2021 (GLOBE NEWSWIRE) — Sweegen’s footprint in Europe became stronger after the European Union Commission published its approval of Sweegen’s non-GMO Signature Bestevia Rebaudioside M (Reb M) for use in food and beverages.

The approval of Sweegen’s Signature Bestevia Reb M leads the future of wellness in food and drink in Europe. Brands in Europe now have access to the best-tasting highly sought-after stevia sweetener. The availability broadens the toolkit for sugar alternatives to reimagine food and drink, opening new doors for creating healthy products for consumers.

“Sweegen’s Signature Bestevia Reb M approval is a celebration of good health and wellness for product developers and consumers alike,” said Luca Giannone, SVP of Sales. “This is just one of our many milestones in Europe to transform products for having a positive and lasting impact on our ever-evolving health.”

Consumers are increasingly aware of the need to reduce sugar in their diets for better health. Yet, when they are making decisions for purchasing food and beverages, consumers will ultimately select the brand with the best taste. Therefore, tackling the toughest sugar reduction challenges is a priority for brands as taste is the reason for repeat purchases.

The soft drinks industry in Europe is making a pledge to cut added sugars in Europe. The Union of European Soft Drinks Associations (UNESDA) announced on June 29 this year to reduce average added sugars in its beverages by another 10% across Europe by 2025.

In its further commitment to Europe, Sweegen has aligned the availability of its Reb M with commercializing the high-purity sweetener at its manufacturing facility in Europe. The facility is open in Europe for helping food and beverage manufacturers with rapid production and low cost-in-use sugar reduction solutions.

To compliment the approval of Reb M, Sweegen invested in designing and building its Innovation Studio in Reading, England, near London. The studio opened its doors in January 2021 with a full applications team to collaborate with food and beverage manufacturers on exploring the entire consumer landscape to understand what trends are driving consumer behavior, and then provide inspirational ingredients to represent those trend drivers.

“Our rapid innovation in application development enables our customer-focused solutions to help manufacturers create great-tasting, clean, natural, plant-based, sustainable products that meet today’s end-consumer needs and desires,” said Giannone.

Around the world, Sweegen’s Innovation Studios are open globally: Southern California, Mexico City, Reading (London) and very soon in Singapore. These studios will leverage local tastes and knowledge while serving as creative centers to explore and discover product innovations motivated by consumer trends and regional tastes.

“Sweegen’s global regulatory mission is the hallmark of opening new sugar reduction opportunities to manufacturers and brands for replacing sugar in foods and beverages, nutritional products, and many other market products world-wide,” said Hadi Omrani, director of regulatory affairs. “Europe is an important region in our global regulatory vision as we continually forge the future of wellness in food and drink around the world.”

Sweegen offers brands cost-effective and rapid innovation for sugar reduction solutions for beverage, dairy, savory and bakery with its Bestevia Taste Solutions for Europe.

Sweegen is the first company to receive the European Food Safety Authority (EFSA) panel’s safety status for any steviol glycoside produced by alternative and sustainable technologies. To achieve high purity clean-tasting stevia leaf sweeteners, Sweegen uses a bioconversion process starting with the stevia leaf. This process enabled Sweegen to obtain the Non-GMO Project verification for its Signature Bestevia stevia sweeteners in the U.S. market.

Bestevia Reb M was commercialized in 2017 and has already been approved in many regions around the world.

About Sweegen

Sweegen provides sweet taste solutions for food and beverage manufacturers around the world.

We are on a mission to reduce the sugar and artificial sweeteners in our global diet.  Partnering with customers, we create delicious zero-sugar products that consumers love.  With the best Signature Stevia sweeteners in our portfolio such as Bestevia® Rebs B, D, E, I, M, and N, along with our deep knowledge of flavor modulators and texturants, Sweegen delivers market-leading solutions that customers want and consumers prefer.

For more information, please contact info@sweegen.com and visit Sweegen’s website, www.sweegen.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains forward-looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener. These statements are based on current expectations, but are subject to certain risks and uncertainties, many of which are difficult to predict and are beyond the control of Sweegen, Inc.

Relevant risks and uncertainties include those referenced in the historic filings of Sweegen, Inc. with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward-looking statements, and therefore should be carefully considered. Sweegen, Inc. assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.

Attachment

• Europe Reb M approval

Ana Arakelian
Sweegen
+1.949.709.0583
ana.arakelian@sweegen.com

 

LOWELL, Mass., July 14, 2021 (GLOBE NEWSWIRE) — Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (“Rapid Micro”), an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products, today announced the pricing of its initial public offering of 7,920,000 shares of its Class A common stock at a price to the public of $20.00 per share. All of the shares of Class A common stock are being offered by Rapid Micro. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Rapid Micro, are expected to be $158.4 million, excluding any exercise of the underwriters’ option to purchase additional shares. Rapid Micro’s Class A common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “RPID” on July 15, 2021. The offering is expected to close on July 19, 2021, subject to satisfaction of customary closing conditions. In addition, Rapid Micro has granted the underwriters a 30-day option to purchase up to an additional 1,188,000 shares of Rapid Micro’s Class A common stock at the initial public offering price less the underwriting discounts and commissions.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Cowen and Company, LLC and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers of the offering.

A registration statement on Form S-1 (File No. 333-257431) relating to the offering has been filed with the Securities and Exchange Commission and became effective on July 14, 2021. The offering will be made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204 or email at prospectus-eq_fi@jpmchase.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY, 11717, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, telephone: (415) 364-2720 or email at syndprospectus@stifel.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contacts

Media:
media@rapidmicrobio.com

Investors:
investors@rapidmicrobio.com