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Worldwide Silicon Wafer Shipments and Revenue Start Recovery in Late 2024, SEMI Reports

MILPITAS, Calif., Feb. 13, 2025 /PRNewswire/ — In the second half of 2024, worldwide silicon wafer demand started to recover from the industry downcycle seen in 2023, the SEMI Silicon Manufacturers Group (SMG) reported in its year-end analysis of the silicon wafer industry. Worldwide silicon wafer shipments in 2024 decreased 2.7% to 12,266 million square inches while wafer revenue contracted 6.5% to $11.5 billion over the same period.

 

In 2024, a broad-based inventory correction was slower due to the weak end demand from the higher volume segments impacting fab utilization rates and wafer shipments to specific applications. The recovery is expected to continue into 2025 with stronger improvements toward the second half of the year.

“Generative AI and new data-center construction has been a driver for the most advanced foundry and memory devices such as High Bandwidth Memory (HBM), but most other end markets are still recovering from excess inventory,” said Lee Chungwei (李崇偉), Chairman of SEMI SMG and Vice President and Chief Auditor at GlobalWafers. “As noted by many customers in their earnings statements, the industrial semiconductor market is still in a strong inventory correction, and this has impacted silicon wafer shipments worldwide.”

Annual Silicon* Industry Trends

2020

2021

2022

2023

2024

Area Shipments (MSI)

12,407

14,165

14,713

12,602

12,266

Revenues ($Billion)

11.2

12.6

13.8

12.3

11.5

Source: SEMI (www.semi.org), February 2025

*Data cited in this release include polished silicon wafers, including those used as virgin test wafers, as well as epitaxial silicon wafers, and non-polished silicon wafers shipped by the wafer manufacturers to end users. Shipments are for semiconductor applications only and do not include solar applications.

Silicon wafers are the fundamental building material for the majority of semiconductors, which are vital components of all electronic devices. The highly engineered thin disks, produced in diameters of up to 300 mm, serve as the substrate material on which most semiconductor devices, or chips, are fabricated.

The SMG is a sub-committee of the SEMI Electronic Materials Group (EMG) and is open to SEMI members involved in manufacturing polycrystalline silicon, monocrystalline silicon or silicon wafers (e.g., as cut, polished, epi). The SMG facilitates collective efforts on issues related to the silicon industry including the development of market information and statistics about the silicon industry and the semiconductor market.

For more information, visit SEMI Worldwide Silicon Wafer Shipment Statistics.

About SEMI

SEMI® is the global industry association connecting over 3,000 member companies and 1.5 million professionals worldwide across the semiconductor and electronics design and manufacturing supply chain. We accelerate member collaboration on solutions to top industry challenges through Advocacy, Workforce Development, Sustainability, Supply Chain Management and other programs. Our SEMICON® expositions and events, technology communities, standards and market intelligence help advance our members’ business growth and innovations in design, devices, equipment, materials, services and software, enabling smarter, faster, more secure electronics. Visit www.semi.org, contact a regional office, and connect with SEMI on LinkedIn and X to learn more.

Association Contact
Sherrie Gutierrez/SEMI
Phone: 1.831.889.3800
Email: sgutierrez@semi.org

 

New Clarifai Control Center Enables Monitoring all your AI operations, Streamlining AI Insights and Improving Decision Making

Control Center Becomes Daily Companion, Sole Source of Truth, Streamlining Management of Clarifai Operations

WASHINGTON, Feb. 13, 2025 /PRNewswire/ — Clarifai, a global leader in AI and pioneer of the full-stack AI platform, today announced – the public preview of Control Center, a unified dashboard to enable users to make better decisions based on AI insights.

Enabling seamless visibility across all functions, Clarifai’s new Control Center transforms raw data, such as model predictions, search operations, stored inputs, and model training hours, into actionable insights. Customers can observe how teams function, how that impacts operations and spend, and also audit user-initiated events to trace their origin. The key functionalities include charts of different types, tables, date ranges, as well as filtering and sorting options.

“In today’s AI-powered world, time and precision are of the essence. By having all services provided by Clarifai in one comprehensive and intuitive platform section, our customers can quickly make more informed decisions,” said Artjom Shestajev, Sr. Product Manager at Clarifai. ” We will gradually add more data points and functionality to the Control Center, including crucial model metrics and smart alerts.”

The number of use cases is broad and will expand further. For example, it is already possible for:

  • an Organization Manager to see which models are most popular among the ones being used.
  • a Finance Manager to track spending and clearly match how specific operations or even exact models contribute to the invoice.
  • an IT Admin to observe events via Audit Logging functionality and inspect who did what and when.

Clarifai’s industry-leading platform enables customers to maximize compute investments, better leverage their cloud commitments and hardware for AI, and seamlessly use Clarifai’s SaaS compute — all while centrally managing and monitoring costs, performance, and governance. As generative AI grows, the Clarifai platform will more easily enable customers to reduce complexity and seamlessly build and deploy AI in minutes, at a lower cost, with room to scale and flex to meet future business needs easily.

More feature information on Clarifai Control Center is available here.

About Clarifai
Clarifai is a global leader in AI and the pioneer of the full-stack AI platform that helps organizations, teams, and developers build, deploy, and operationalize AI at scale. Clarifai’s cutting-edge AI platform supports today’s modern AI technologies like Large Language Models (LLMs), Large Vision Models (LVMs), Retrieval Augmented Generation (RAG), automated data labeling, high-volume production inference, and more. Founded in 2013, Clarifai is available in cloud, on-premises, or hybrid environments and has been used to build more than 1.5 million AI models with more than 400,000 users in 170 countries. Learn more at www.clarifai.com.

For more information or media requests, contact: pr@clarifai.com.

 

Keysight Technologies Applauded by Frost & Sullivan for Enhancing Threat Detection and Response Capabilities with Its Electronic Warfare and Spectrum Management Solutions

Keysight’s EW solutions counter advanced and evolving threats and offer scalability and upgrade options, significantly enhancing operational planning, readiness, and effectiveness.

SAN ANTONIO, Feb. 13, 2025 /PRNewswire/ — Frost & Sullivan recently assessed the electronic warfare (EW) and spectrum management industry and based on its findings, recognizes Keysight with the 2024 North American Technology Innovation Leadership Award. The company is a leading electronic design and test solutions provider with over 80 years of expertise. Originally a part of Hewlett-Packard and later Agilent, Keysight carries forward a rich legacy of innovation and industry leadership. The company offers a broad spectrum of software, tools, and services integral to electronic system design, development, and validation. Keysight’s solutions encompass every stage of the product life cycle, from simulation and manufacturing to installation, deployment, and optimization. It also provides extensive customer support, including start-up assistance, application support, asset management, instrument calibration, and consulting. Keysight caters to a wide array of industries, including aerospace and defense, automotive, healthcare, energy, semiconductors, communications, and education.

Keysight leverages extensive R&D capabilities to develop innovative technologies that counter advanced and evolving threats, which is crucial in the rapidly evolving EW mission area. Its advanced EW threat simulators and analyzers compromise commercial off-the-shelf components, including radio frequency (RF) vector signal generators, RF analyzers, and open architecture software. Keysight’s advanced M9484C Vector Signal Generator supports connections up to 54 gigahertz and offers capabilities such as signal descriptor word streaming and virtual channel options. The company’s real-time radio frequency modeling platform, Simulation View Software, enables dynamic scenario control and detailed visualization. Designed for adaptability, the simulators can be upgraded with additional software and hardware components. By using commercial off-the-shelf technology, the company aims to reduce test costs, accelerate project timelines, and ensure high availability. These cutting-edge products enable comprehensive simulation, testing, and analysis of EW scenarios, significantly enhancing threat detection and response capabilities. They evaluate complex multi-emitters, electronic disruptors, and dynamic flight paths, enhancing warfighters’ operational planning and effectiveness.

Norazah Bachok, best practices research analyst at Frost & Sullivan, observed, “By repurposing advancements from diverse industries—such as automotive and telecommunications—Keysight stays ahead of market demands, providing adjustable and sophisticated solutions that address current and future EW needs.”

Keysight leverages its expertise and advanced technology to aid defense organizations in navigating the electromagnetic spectrum’s complexities and enhance their operational readiness. Its scalable, open-architecture solutions integrate legacy scenarios with new advanced systems, enabling customers to modernize their test and evaluation competencies while preserving existing investments’ value. Furthermore, its KeysightCare program offers technical support, warranty services, and upgrades to maintain operational effectiveness and minimize downtime. Keysight optimizes open software architectures, and the size, weight, and power of its EW products ensure that its solutions remain effective in increasingly complex environments, helping it adapt to a swiftly changing technological landscape and reinforcing its industry leadership.

“Keysight’s strategic focus on research and development and investing 16% of its revenue back into the business unit enable it to stay ahead of market demands and continually adapt its technologies for specialized defense applications. This commitment has led to a notable surge, particularly in the EW sector, where the company’s performance surpasses the market average,” added Wayne L. Shaw III, director of aerospace and defense at Frost & Sullivan and himself an EW expert and the former President/CEO of the Association of Old Crows. With its dedication to innovation, scalable and reusable solutions, and strong overall performance, Keysight earns Frost & Sullivan’s 2024 North American Technology Innovation Leadership Award in the EW and spectrum management industry.

Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, megatrends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.

Contact:

Ashley Shreve
E: Ashley.Shreve@frost.com

About Keysight

Keysight enables innovators to push the boundaries of engineering by quickly solving design, emulation, and test challenges to create the best product experiences. Through our fusion of technology knowledge, measurement science expertise, and tailored solutions, we deliver intelligent insights throughout the innovation workflow to ensure fast time-to-market with reduced risk.

NYSE CONTENT ADVISORY: PRE-MARKET UPDATE FOR FEBRUARY 13th

NEW YORK, Feb. 13, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) is proud to offer a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins. 

 

NYSE CONTENT ADVISORY: PRE-MARKET UPDATE FOR FEBRUARY 13th

Kristen Scholer delivers the pre-market update on February 13th

  • Markets digest January’s Producer Price Index Data
  • Pace of price gains remains above the Fed’s 2% target
  • President Trump announces reciprocal tariffs ahead of meeting with India’s Modi

Watch NYSE TV Live every weekday 9:00-10:00am ET 

JOICO© ANNOUNCES KATE HUDSON AS FIRST-EVER GLOBAL CELEBRITY SPOKESPERSON

LOS ANGELES, Feb. 13, 2025 /PRNewswire/ — Joico, known for its legacy of product performance and the joi(e) de vivre they bring to hair enthusiasts around the world, is celebrating an incredible milestone: 50 years of healthy hair innovations. Poised for an ultimate season of celebration, the joi-ful brand is excited to announce, actress, singer and entrepreneur, Kate Hudson has joined the brand as its Global Celebrity Spokesperson.

Building on a trusted heritage in salons, the healthy hair brand is now bringing that same salon-quality experience directly to consumers through multiple channels, making luxury hair care accessible and personal. With its 50-year history of creating haircare that delivers real results, the campaign with Hudson will highlight Redefining healthy hair. Since forever.

The brand’s campaign and partnership with Hudson will launch in February 2025 and last through the end of the first quarter of 2026. Hudson will be prominently featured throughout advertising for the brand in all digital mediums including social media globally, and in print and in-store advertising and merchandising for the brand’s North American markets.

The creative concept for the campaign, filmed on location in Southern California with Hudson, capitalizes on her innate playfulness. This concept, “joi lessons with Kate Hudson,” is the brand’s take on “finding joi” while staying authentic and delivering an easygoing-chic. The campaign will show a glimpse into Hudson’s world and how she finds “joi.”                                                           

The campaign will place the legacy brand front and center for many at-home consumers, while speaking to the professional hairdresser community and continuing its support and engagement with its primary audience.                                                 

From new product launches to hero products, both the campaign and the partnership with Hudson will have something to offer all those both new and old to the joi of healthy hair.                                                  

Find your joi at joico.com.au and follow Joico throughout its social media channels for all things Joico + Kate Hudson.

About Kate Hudson

Kate Hudson is a Golden Globe Award winner and Academy Award-nominated actress, singer/songwriter, producer, entrepreneur, and bestselling author. She is best known for her roles in “Almost Famous,” “How to Lose a Guy in 10 Days,” and “Bride Wars,” which she also produced. She co-starred with Mark Wahlberg in “Deepwater Horizon,” “Marshall,” opposite Chadwick Boseman and Sterling K. Brown and was nominated for a Golden Globe for her performance in “Music.” She co-starred opposite Octavia Spencer in the Apple TV+ series, “Truth Be Told,” and starred in Ana Lily Amirpour’s mystery thriller “Mona Lisa and the Blood Moon.” She was part of the all-star ensemble of the global smash hit, “Glass Onion: A Knives Out Mystery,” streaming on Netflix. Kate’s critically-acclaimed debut album, “Glorious”, was released in May 2024 and the Deluxe Edition of the album is available now. She will star in the upcoming Netflix series, “Running Point”, which premieres in February. Her performance in Max Minghella’s “Shell,” which had its World Premiere at the Toronto Film Festival, garnered rave reviews and she stars opposite Hugh Jackman in Craig Brewer’s upcoming musical drama, “Song Sung Blue,” for Focus Features. In 2013, Kate co-founded Fabletics, a global lifestyle brand centered on inclusivity and community. She continued to expand her wellness empire with her new line of all-natural holistic nutritional supplements, INBLOOM, introduced in 2020. Kate became a New York Times bestselling author in 2013, with her first book Pretty Happy: Healthy Ways to Love Your Body, which was published by HarperCollins/Dey Street Books and her second book Pretty Fun: Creating & Celebrating a Lifetime of Tradition in 2017. She and her brother, Oliver Hudson, host the podcast, “Sibling Revelry,” which is available on iHeart Podcasts. Her many charitable and humanitarian affiliations include The Hawn Foundation’s MindUP program, the United Nations World Food Programme, Baby2Baby, Operation Smile, and numerous other organizations. Visit KateHudson.com for more information.                                             

About Joico                                                    

Joico, a Henkel brand, has been leading the healthy-hair revolution since 1975 and together with the latest innovations in hair care creating beautiful, healthy hair to lift your soul and inspire confidence. “Joi” is not only in our name, it runs through everything we do and every product we make. Each and every one of our product innovations are created to help return hair to its strongest, shiniest, healthiest state, even after one use, and with every use thereafter. Sharing the “‘JOI’ of Healthy Hair” is more than just a promise, it’s a guarantee. For more information please visit www.joico.com.au.                                                       

About Henkel                                      

With its brands, innovations and technologies, Henkel holds leading market positions worldwide in the industrial and consumer businesses. The business unit Adhesive Technologies is the global leader in the market for adhesives, sealants and functional coatings. With Consumer Brands, the company holds leading positions especially in laundry & home care and hair in many markets and categories around the world. The company’s three strongest brands are Loctite, Persil and Schwarzkopf. In fiscal 2023, Henkel reported sales of more than 21.5 billion euros and adjusted operating profit of around 2.6 billion euros. Henkel’s preferred shares are listed in the German stock index DAX. Sustainability has a long tradition at Henkel, and the company has a clear sustainability strategy with specific targets. Henkel was founded in 1876 and today employs a diverse team of about 48,000 people worldwide – united by a strong corporate culture, shared values and a common purpose: “Pioneers at heart for the good of generations.” More information at www.henkel.com.                                                

Henkel photo material is available at https://www.henkel.com/press-and-media

Joico Proudly Welcomes Our New Global Celebrity Spokesperson…Kate Hudson (Photo Credit: Heather Hazzan)
Joico Proudly Welcomes Our New Global Celebrity Spokesperson…Kate Hudson (Photo Credit: Heather Hazzan)

Photo – https://laotiantimes.com/wp-content/uploads/2025/02/joico_henkel_logo.jpg
Photo – https://laotiantimes.com/wp-content/uploads/2025/02/joicoxkate.jpg

Metalpha Reports Half-Year FY2025 Financial Results with Revenues up Nearly Four-fold, and Announces a $5 Million Share Repurchase Program

HONG KONG, Feb. 13, 2025 /PRNewswire/ — Metalpha Technology Holding Limited (Nasdaq: MATH) (the “Company” or “Metalpha”), a global leader in digital asset wealth management, is pleased to announce its unaudited financial results for the six months ended September 30, 2024, with revenue up by an impressive 388% compared to the same period in FY2024. The Company also announced today that its Board of Directors has approved a share repurchase program of up to $5 million, reflecting confidence in the Company’s future growth. Since the announcement of the Company’s joint venture with Antalpha Technologies Limited on November 8th, 2021, Metalpha has grown to become a leader in digital asset wealth management, with its robust financial performance demonstrating substantial growth amid increasing adoption of cryptocurrency.

FY2025 Interim Results Highlights

For the six months ended September 30, 2024, Metalpha achieved total revenue of $19,720,654, nearly fourfold compared to $5,085,150 for the same period in FY2024. Net income reached $6,044,921, a remarkable turnaround from a net loss of $3,856,955 in the prior-year period. The growth was driven by the pursuit of delivering high-quality products and services to clients. The following table presents the Company’s total revenue and net income (loss) for each of the six-month period ended September 30, 2024, March 31, 2024, September 30, 2023 and March 31, 2023:

For the Six Months Ended

September 30,
2024

March 31, 2024

September 30,
2023

March 31, 2023

Total
Revenue

$19,720,654

$11,678,395

$5,085,150

$1,753,186

Net
Income

(Loss)

$6,044,921

$177,546

($3,856,955)

($7,033,059)

For further information regarding the Company’s unaudited financial results for the first six months of fiscal year 2025, please refer to the unaudited consolidated financial statements of the Company as of September 30, 2024 and for the six months ended September 30, 2024, furnished to the U.S. Securities and Exchange Commission on Form 6-K and available at www.sec.gov.

$5 Million Share Repurchase Program

Metalpha’s Board of Directors has approved a share repurchase program of up to $5 million over the next 36 months. The Company’s repurchases may be made from time to time through open market purchases, privately negotiated transactions, or other legally permissible methods, depending on market conditions and the Company’s capital requirements.

This share repurchase program reflects Metalpha’s confidence in its long-term strategic direction and commitment to deliver value to its shareholders. Through disciplined capital allocation, Metalpha aims to enhance per-share value and provide long-term returns for its investors.

Adrian Wang, chairman and CEO of Metalpha, expressed optimism about the Company’s future:

“The robust interim results, coupled with our growing partnerships and expanded financial offerings, showcase our commitment to meet the customer demand. Behind the attractive financial numbers, we made significant investments in areas that are less apparent but even more critical to our success. Best talents, state-of-the-art technology infrastructure, and extremely comprehensive internal control systems are all essential for long-term scalability and sustainability. These efforts demonstrate our dedication to excellence. Looking ahead, we remain focused on advancing technology, enhancing customer experiences, and innovating best digital asset derivative products.”

About Metalpha Technology Holding Limited

Founded in 2015, Metalpha Technology Holding Limited (Nasdaq: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause Metalpha’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

EDF and TAQA Geothermal Sign Landmark MoU to Advance Geothermal Energy in Saudi Arabia

RIYADH, Saudi Arabia, Feb. 13, 2025 /PRNewswire/ — EDF Saudi Arabia and TAQA Geothermal Energy Company have signed a strategic Memorandum of Understanding (MoU) to collaborate on geothermal energy technologies including power generation and HVAC applications as well as Compressed Air Energy Storage in Saudi Arabia. The agreement was formalized during the third edition of the PIF Private Sector Forum, held at the King Abdul Aziz International Conference Center in Riyadh, Saudi Arabia.

 

EDF and TAQA Geothermal Sign Landmark MoU to Advance Geothermal Energy in Saudi Arabia
EDF and TAQA Geothermal Sign Landmark MoU to Advance Geothermal Energy in Saudi Arabia

 

The MoU was signed by Omar Aldaweesh, CEO of EDF Saudi Arabia, and Meshary Al-Ayed, CEO of TAQA Geothermal Energy Company, reinforcing the commitment of both companies to advancing innovative and decarbonised energy technologies in the Kingdom.

The signing ceremony was attended by Gudmundur Thoroddsson, Chief Technology Officer of TAQA Geothermal and Chairman of Reykjavik Geothermal, the joint venture partner.

Commenting on the MoU, Omar Aldaweesh, CEO of EDF Saudi Arabia, said:
“This partnership is a natural progression of EDF’s longstanding commitment to Saudi Arabia’s energy sector. Over the past decade, we have been actively contributing to the Kingdom’s energy landscape through our expertise in sustainable solutions, and this MoU further strengthens our role in advancing innovative technologies. By collaborating with TAQA Geothermal, we are leveraging our extensive experience to explore new frontiers in geothermal energies and compressed air energy storage. This initiative is fully aligned with both Saudi Arabia’s Vision 2030 and EDF’s Ambitions 2035, reinforcing our shared commitment to sustainability and to the country’s transition to a cleaner energy future.”

Meshary Alayed, CEO of TAQA Geothermal, added:
Geothermal energy utilization whether via direct heat use or electricity generation is a critical and untapped resource to drive the global transition to clean energy, as it is a reliable, renewable base load resource. The partnership between EDF and TAQA Geothermal in the field of geothermal solutions redefining space cooling, will have tremendous positive impacts on efficiency and carbon footprint reduction. The combined strengths will demonstrate cutting-edge geothermal cooling systems for the Kingdom’s growing energy needs while supporting Saudi Arabia’s Vision 2030 in economic diversification and the Ministry of Energy’s renewable energy mandates.

This collaboration sets the stage for pioneering geothermal energy solutions in Saudi Arabia, paving the way for cleaner and more efficient power and cooling technologies. By leveraging their combined expertise, TAQA Geothermal and EDF aim to unlock the full potential of geothermal resources, reinforcing the Kingdom’s leadership in renewable energy innovation.

About the EDF Group

The EDF Group is a key player in the energy transition, as an integrated energy operator engaged in all aspects of the energy business: power generation, distribution, trading, energy sales and energy services. The Group is a world leader in low-carbon energy, with a low carbon output of 434TWh, a diverse generation mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support the energy transition. EDF’s raison d’être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group supplies energy and services to approximately 40.9 million customers (1) and generated consolidated sales of €139.7 billion in 2023.

(1) Customers are counted per delivery site. A customer may have two delivery points.

For more information: ksa.edf.com
Follow us on LinkedIn: www.linkedin.com/showcase/edf-middleeast

About TAQA Geothermal Energy Company

TAQA Geothermal is a joint venture between the PIF majority owned upstream Energy services and well engineering company TAQA and Reykjavik Geothermal, headquartered in Iceland and a leader in the field of geothermal resources and project development. The joint venture was established in 2023 and announced during the Public Investment Fund forum in March 2023. TAQA Geothermal is active in the regional and international geothermal consultancy and project management fields with ongoing projects in Saudi Arabia and internationally. Resource assessment consultancy, designing and executing exploration and development programs and pilot project developments are all aligned to deliver on it’s the vision of enabling clean, reliable and sustainable Geothermal Energy to the region.

For more information: https://www.tq.com/what-we-do/taqa-ventures/subsidiaries/taqa-geothermal/ 

Follow us on LinkedIn: https://www.linkedin.com/company/taqa-geothermal/?viewAsMember=true 

 

 

SunCar Technology Expands Major Partnership with Global EV Leader, Achieving 48-City Coverage

NEW YORK, Feb. 13, 2025 /PRNewswire/ — SunCar Technology Group Inc. (“SunCar” or the “Company”) (NASDAQ: SDA), an innovative leader in auto e-insurance and cloud-based B2B auto services in China, today announced the significant expansion of its strategic partnership with one of the world’s foremost electric vehicle manufacturers. The collaboration has experienced remarkable growth, demonstrating SunCar’s expanding influence in China’s evolving automotive services sector.

The partnership began in early 2024 and has shown exceptional momentum in automotive insurance brokerage services. Premium volume surged from an initial $400,000 in January 2024 to approximately $40 million by year-end, marking a hundredfold increase across 48 Chinese cities. With over 2 million of our partner’s electric vehicles currently on the road in China, our newly developed e-insurance system is tailored to streamline the insurance renewal process, ensuring seamless coverage for this growing market. This rapid scaling demonstrates both the strong market demand and the effectiveness of SunCar’s service delivery model.

Looking ahead to 2025, SunCar will extend its geographical footprint while deepening its technology integration. A key development includes incorporating SunCar’s specialized automotive services directly into the EV manufacturer’s owner platform, creating a seamless experience for millions of vehicle owners. This integration represents a significant step forward in digital automotive service delivery.

 The Company’s AI-powered infrastructure has been instrumental in optimizing service delivery and resource allocation. SunCar’s advanced insurance renewal system now serves over 2 million owners of our partner’s electric vehicles, showcasing the Company’s technological capabilities and market reach. This digital transformation sets new standards for efficiency and customer service in the automotive sector.

“As artificial intelligence reshapes the automotive industry, SunCar continues to pioneer innovative solutions that address the evolving needs of vehicle owners,” said Ye Zaichang, Chairman and CEO of SunCar Technology Group Inc. “Our expanding partnership with this leading EV manufacturer strengthens our position in China’s rapidly growing electric vehicle market while demonstrating our commitment to technology-driven service excellence.”

About SunCar Technology Group Inc.

Founded in 2007, SunCar is transforming the customer journey for auto services and auto insurance in China, the largest passenger vehicle market in the world. SunCar develops and operates cloud-based platforms that seamlessly connect drivers with a wide range of auto services and insurance coverage options through a nationwide network of sales partners. As a result, SunCar has established itself as the leader in China in the B2B auto services market and the auto eInsurance market for electric vehicles. The Company’s intelligent cloud platform empowers its enterprise clients to access and manage their customer database and offerings optimally, and drivers gain access to hundreds of services from tens of thousands of independent providers in a single application. For more information, please visit: https://suncartech.com.

Forward-Looking Statements

This press release contains information about the Company’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company encourages you to review other factors that may affect its future results in the Company’s annual reports and in its other filings with the Securities and Exchange Commission.

Contact Information:

SunCar:
Investor Relations: Ms. Hui Jiang
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com

U.S. Investor Relations
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com