TAIPEI, Dec. 20, 2023 /PRNewswire/ — XING Technology, the holding company of Taiwan-based XING Mobility, an advanced battery technologies company founded in 2015, will be closing its Series B Equity Round led by Kubota Corporation (TYO: 6326, hereinafter “Kubota”), a leading manufacturer of agricultural and industrial machinery, by the end of 2023. This strategic investment accelerates Kubota’s roadmap toward machinery electrification, promoting sustainability in agriculture and beyond. It also enables XING Mobility to expedite the development of immersion cooling battery systems.
Kubota’s strategic objective is to move toward carbon-neutral through the reduction of CO emission by its agricultural machinery and small construction machinery. Kubota acknowledges the complexities involved in developing battery systems that can reliably operate at high power in rugged environments like agricultural farmlands and demanding construction sites. Through surveying battery system solutions worldwide, Kubota recognizes XING as an outstanding development partner, given its expertise in the design and manufacturing of high-power, heavy-duty battery solutions, particularly leveraging its immersion cooling technology.
XING Mobility’s IMMERSIO immersion cooling battery system solution is developed for Automotive, Industrial and Commercial Vehicle and Machinery, and Energy Storage System. The solution has successfully passed rigorous safety tests, including a three-nail penetration safety test at 100% State of Charge, demonstrating the exceptional safety and reliability of active thermal runaway protection. This patented system sophisticatedly regulates battery temperatures’ uniformity using thermal management expertise, ensuring consistent thermal distribution, longevity and safety of the battery cells. Proactive thermal runaway controls further enhance battery safety, especially in higher voltage systems. Given the increasing demand for higher voltage systems, these features play a pivotal role. XING Mobility’s immersion cooling technology is suitable for commercial vehicles, as well as residential and commercial energy storage systems, making it a game-changer for safe and high-performance battery applications.
“Since 2015, XING Mobility has been at the forefront of advancing immersion cooling battery technology for electric vehicles,” says Royce YC Hong, Co-founder & CEO of XING Mobility. “Our commitment has led to the integration of this technology in our own electric high-performance EV and numerous industrial and commercial vehicles. We have now escalated to volume production of immersion-cooling battery systems. This significant step not only makes these advanced batteries commercially available but also marks their global deployment to vehicle manufacturers and energy storage solution providers. The strategic investment and partnership with Kubota are a testament to the viability of our immersion cooling technology in heavy-duty applications, propelling our growth on an international scale.”
Matt Cheng, Founder and the Sole General Partner of Cherubic Ventures, one of the pivotal investors in XING Mobility, noted, “Kubota’s funding opens up new possibilities for XING Mobility’s immersion cooling innovations. This investment is a significant step towards unlocking new potentials in agricultural and industrial machinery. At Cherubic Ventures, we are proud to be part of this groundbreaking shift towards advanced electrification.”
About Kubota Corporation
Since its foundation in 1890, Kubota Corporation has continued to provide solutions to various societal challenges that differ by era and region in the areas of “food, water, and the environment,” such as water pipes and environmental facilities that contribute to improved sanitation and agricultural machinery that supports agriculture and food production. Now, Kubota operates in more than 120 countries around the world.
Official Website: https://www.kubota.com/
About XING Mobility
XING Mobility, a global pioneer in immersion cooling battery technology, was founded in Taiwan in 2015. XING Mobility has developed the world’s only patented IMMERSIO immersed cooling battery system, which can be applied to a wide range of electric vehicles and energy storage systems, creating a stable and safe thermal management solution for battery systems, and providing a safer and more reliable option for the industrial energy transition. With more than 15 multinational partners and customers, and more than 20 vehicle electrification projects and energy storage system projects around the world, we are committed to expanding our immersed cooling battery technology and working with our global partners to realize a sustainable future.
Official Website: https://www.xingmobility.com/
Shanghai’s Lujiazui adds 5 global asset management institutions
SHANGHAI, March 5, 2024 /PRNewswire/ — Five global asset management institutions, including Aspect Capital and Schroders Capital, have signed agreements to settle in Shanghai’s Lujiazui Financial City, said local authorities.
According to Xiao Jian, head of Lujiazui administration bureau under the China (Shanghai) Pilot Free Trade Zone, Lujiazui Financial City has so far attracted more than 8,000 financial institutions.
Lujiazui has become an important cluster for global asset management institutions in China. It now boasts about 80 percent of foreign-funded asset management institutions, 40 percent of foreign-funded corporate banks, nearly one-third of public fund management companies, and nearly one quarter of insurance asset management institutions of the total in the country, Xiao said.
More than 80 world-renowned financial institutions from 13 countries have established over 120 foreign asset management institutions in Lujiazui.
“Lujiazui is an important gathering place and business expansion place for global asset management institutions in China. We are very honored to have the opportunity to join the Global Asset Management Partner Program. We also hope that through this signing, we can contribute to building Lujiazui into the core area of a global asset management center and accelerating Shanghai’s entry into the forefront of global asset management center cities,” Li You, Chief Compliance Officer of Aspect Capital (China) Limited.
“Shanghai has made a great stride in pushing for financial openness and attracting more global financial institutions and investors. The next step could be to take advantage the special status of Shanghai Free Trade Zone and Lingang special area to develop an off-shore financial system, adopting the most advanced financial business models and regulatory regimes,” said Yan Hong, professor of finance of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University.
LAMPRO International Distributor Summit: A Feast of Gathering and Future Prospect
-Focus On Pro, Pro For Mate–
HUIZHOU, China, March 5, 2024 /PRNewswire/ — On March 2-3, right on the 20th anniversary of the establishment of LAMPRO, the International Distributor Summit was successfully concluded in Huizhou. With the theme of “Focus On Pro, Pro For Mate”, the summit attracted more than 200 partners from all over the world, sharing the industry trend and advanced leading technology. During the summit, LAMPRO held an appreciation award ceremony and signing ceremony as well for partners to co-build a partnership system and create a brighter future together.
At the summit, Sichuan opera performances, band shows, and other entertainment sessions created a warm and comfortable homey vibe, so that every guest fully enjoyed the process. One of our partners even took the initiative to sing on stage.
To share business opportunities with partners and demonstrate the vision of prosperous development, LAMPRO has elaborately planned the “Tree of Dreams” launching ceremony and the 20th-anniversary sand painting video. In the beginning, Chairman Tiger Lin thanked all partners for choosing Unilumin and LAMPRO, and he emphasized, “It is vital to choose the right brand and bind with it, which will help you become an outstanding leader locally.” Afterwards, Mr. Lawrence Liu, General Manager of LAMPRO, shared the development strategy of LAMPRO partner system. The project director introduced and demonstrated LMini and other major product series in details, which greatly boosted the confidence of global partners.
Furthermore, to thank partners for their support and seek mutual development, LAMPRO also held an awarding session, a signing ceremony, and a visiting journey to the Daya Bay intelligent manufacturing base on March 3, which demonstrated the industry-leading intelligent manufacturing capabilities of LAMPRO and high quality of products. LAMPRO sincerely expects to establish a closer cooperative relationship with global partners. Partners said that they gained valuable friendship and cooperation opportunities at the summit, and highly recognized the manufacturing strength and product capability of LAMPRO.
Meanwhile, elaborately arranged lucky draws pushed the atmosphere to a culmination, in which prizes included electronic equipment of well-known brands. At the end of the dinner party, LAMPRO prepared unique souvenirs, including the 20th-anniversary mascot of LAMPRO, hoping to leave an unforgettable impression on every guest.
Looking ahead, we expect to share greater joys of success with more partners in subsequent distributor summits, create a bright future and display a better world together.
Aptoide launches campaign for a truly open digital market with new DMA website
LISBON, Portugal, March 5, 2024 /PRNewswire/ — Aptoide, the pioneer in global alternative Android app distribution, has launched a new campaign website, Leveling the game, including an Open Letter from the Aptoide founders, to demand full compliance from gatekeepers with the EU’s Digital Markets Act (DMA) and to urge regulators to take further action against anti-competitive practices by digital gatekeepers. Since 2011, Aptoide has been a vocal advocate for fair competition in the mobile app market, consistently challenging the market dominance of tech giants like Google.
With the March 2024 deadline for complete DMA compliance from gatekeepers set for this week, Aptoide sees this as a critical juncture for achieving true fairness in digital markets. However, the company also points out that significant obstacles remain, particularly with Apple’s recent DMA-related proposals, which include the introduction of a Core Technology Fee (CTF) and restrictive terms that limit developers’ access to alternative platforms.
“Aptoide has always advocated for a digital marketplace where innovation thrives and fairness reigns”, said Paulo Trezentos, Aptoide’s CEO and co-founder. “The DMA is a landmark step in that direction, but it’s clear that some tech gatekeepers are reluctant to let go of their stranglehold on the mobile industry. We must continue to push for reforms that will truly level the playing field”.
Aptoide argues that Apple’s proposed changes mostly serve to preserve its market dominance rather than to foster genuine competition, maintaining control by imposing disproportionate fees on alternative app stores and discouraging users from exploring non-Apple ecosystems through complex installation processes and misleading warnings.
Álvaro Pinto, co-founder and COO of Aptoide, added, “We’re at a crucial moment where the actions of regulators will determine the future of digital markets. Apple’s half-hearted reforms under the DMA are simply not enough. We need to ensure that the spirit of the DMA is not lost in loopholes and half-measures”.
In response to these challenges, Aptoide calls on EU authorities to hold Apple accountable and to demand that they:
- Eliminate or significantly reduce the CTF to reflect actual costs.
- Offer developers the freedom to choose between distribution models without restrictions.
- Simplify the app installation process for a better user experience.
- Apply the CTF fairly across all market participants.
- Remove misleading warnings about alternative payment systems.
- Ensure the confidentiality of data from competing marketplaces.
Aptoide believes that real competition can only emerge if the EU takes decisive action to enforce open market principles, leading to a digital marketplace that values fairness and innovation. And that the fight for an open digital marketplace is far from over and requires a united front. That’s why the company urges developers, consumers and regulators to join in demanding more from both Apple and Google.
Aptoide invites all stakeholders to visit their new DMA advocacy landing page, Leveling the game, to learn more about the ongoing struggle for an open digital world and to join the movement against the outdated monopolistic tactics of dominant gatekeepers.
Read the Aptoide Founders’ Open Letter about the DMA and what we need for real digital freedom here:
Aptoide is a game-changing app distribution and payment processing platform, with over 430 million users, 10 billion downloads and 1 million apps. Available on multiple channels including Android, Web, TV and automotive, Aptoide offers developers a trusted, experienced partnership with a deep understanding of all ecosystems.
- Shanghai’s Lujiazui adds 5 global asset management institutions
- LAMPRO International Distributor Summit: A Feast of Gathering and Future Prospect
- Aptoide launches campaign for a truly open digital market with new DMA website
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