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Acoustic Wells wins 2019 MIT $100K Entrepreneurship Competition

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Acoustic Wells, a startup born in a laboratory at MIT that has created a new internet of things (IoT) control solution for oil wells that optimizes production while drastically reducing methane emissions, beat out seven finalists to win the Robert P. Goldberg $100,000 grand prize at last night’s MIT $100KEntrepreneurship Launch Finale held on the MIT campus.

Now in its 30th year, the MIT $100K Entrepreneurship Competition is an economic barometer for sectors of innovation that are receiving funding by venture capitalists. To date, the MIT $100K has facilitated the birth of more than 160 companies, which have gone on to raise $1.3 billion in venture capital and build $16 billion in market capitalization. More than 30 MIT $100K startups have been acquired by major companies, such as Oracle, Cisco, 3M, and Merck. Over 4,600 people are currently employed by MIT $100K companies. Recent IPOs include Akamai (AKAM) and Hubspot (HUBS).

A major challenge in the operation of oil and gas wells is the ability to monitor the operating conditions and health of pumping equipment without the need for prohibitively expensive equipment or daily inspections. To address this issue, Acoustic Wells has developed a patent-pending, acoustic-based control method that is capable of determining precisely down-hole conditions using a simple and affordable surface sensor. Acoustic Wells’ simple plug-and-play hardware processes the data at the edge and seamlessly connects to their cloud platform using long range IoT networks. Artificial intelligence algorithms automatically monitor the pump operation and optimize the production by adjusting the pumping rate while also predicting potential critical failures of the system.

Acoustic Wells’ founding team members are:

Dr. Sebastien Mannai, CEO, MIT PhD 2018 in Aerospace Engineering. He is currently engaged in postdoctoral work on AI signal processing in the Gas Turbine Laboratory of the Aerospace Department at MIT.

Dr. Charles-Henri Clerget, COO, who is currently engaged in postdoctoral work in the Earth Resources Laboratory with the Mathematics Department at MIT where he focuses on the big data analysis of drilling operations.

Louis Creteur, CTO and an industrial automation solution specialist who currently serves as IoT and Cloud Architect at Leanbox.

“We bring cutting edge technology in a simple package to help every oil and gas producer optimize their assets while reducing their emissions,” says Dr. Mannai.

A panel of judges chose Acoustic Wells based on value creation, value capture, and technological differentiation. Judges included: TJ Parker, Co-Founder & CEO, PillPackMira Wilczek, President & CEO, Cogo LabsThomas Collet, President, CEO & Director, Phrixus PharmaceuticalsTanguy Chau, Venture Investor; and Katie Rae, CEO & Managing Partner, The Engine.

$10,000 Audience Choice Award was presented to The Read Read, one of the finalist teams. The Read Read has created a patent pending physical device that allows blind and low-vision children to independently learn phonics and braille, and gain early literacy to keep pace with their sighted peers. Users simply touch the braille and large-print letter manipulatives, and get immediate audio feedback. It was developed at the Harvard Innovations Lab, and piloted at the Perkins School for the Blind and the Harvard Graduate School of Education.

Six additional finalists included:

AgroBeads® are biodegradable spheres made from natural ingredients that hydrate plants according to their needs and support their growth and healthy development. Plants not only grow, but they do it faster, and healthier. AgroBeads® does not pollute the environment, improves the chances of germination, and contributes to the development of technologies that impact public health.

Mechanodontics is a new method that can be used instead of braces or aligners that moves teeth independently. Placed behind teeth so they cannot be seen, this method considerably shortens treatment time, allows for easier cleaning than traditional braces, and is more comfortable. This technology, which employs state-of-the-art simulations, allows orthodontists to apply the optimal amount of force to each tooth, easily fixing even complicated mal-alignments that are not correctable with aligners.

Myco Diagnostics is creating low-cost, robust medical diagnostics, using thermostable binding proteins to capture disease biomarkers from patient samples. They are producing point-of-care assays for the detection of urine-based biomarkers of tuberculosis, allowing them to address patient groups ill-served by traditional TB tests.

Posh offers a bot-creation platform using patent-pending technology that makes it easy to tailor a custom chatbot to meet companies’ needs. Not only can Posh answer company FAQs, but it can also help a company’s customers manage their accounts and convert prospects into sales. Posh does this while interacting with customers via the channels they prefer: across text, voice, social media and the web.

Qtech The team’s MIT-educated scientists have invented 3D Nano structured air filters that provide 20x filtration performance, 10x lifetime, and are recyclable at an estimated similar cost of a traditional HEPA filter. Filters catch not only flower pollens, but also bacteria and even viruses, and there is no need for replacements in years.

Stratagen Bio develops oxygen sensors to enable personalized cancer therapies, addressing the unmet clinical need of identifying low-oxygen treatment resistant tumors. They are enabling physicians to identify which cancer patients require a customized treatment to overcome resistance and improve outcomes and survival.

John Harthorne, a founder and former CEO of MassChallenge, served as the keynote speaker. Harthorne’s team, Robopsy, won the MIT $100K in 2007. He and Akhil Nigam went on to co-found MassChallenge, a not-for-profit, in 2010. Based on the MIT $100K model, their zero-equity startup accelerator has since gone global and has accelerated 1,975 startups that have raised more than $4.3 billion in funding, generated more than $2.5 billion in revenue, and created more than 121,000 total jobs. Harthorne now serves on MassChallenge’s Global Board of Directors.

Since its debut as the MIT $10K Entrepreneurship Competition in 1989, it has grown to include three independent contests – PitchAccelerate, and Launch – from September through May. Each contest focuses on developing specific founding skills. For each semi-finalist contender, the MIT $100K brings together a network of resources that includes mentorship from venture capitalists, serial entrepreneurs, corporate executives, and attorneys; media exposure; prototyping funds; business plan feedback; and discounted services. Altogether, almost $1M in non-dilutive prize money and other financial resources are awarded to help these new ventures accelerate. For more on the MIT $100K, please visit: www.mit100k.org

SOURCE MIT Sloan School of Management

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Vantage Markets extends its competitive edge on Indices product offering with enhanced Website and App, promoting greater transparency and cost savings

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PORT VILA, Vanuatu, March 28, 2024 /PRNewswire/ — Building upon its recent success in revamping its indices product offering, leading CFD broker Vantage Markets (“Vantage”) is thrilled to announce the introduction of enhanced website features and app enhancements, further solidifying its position as a leader in the industry.

To further support indices CFD traders, Vantage has revamped its website with new features dedicated to indices trading. Traders will find extensive educational content, transparent pricing comparisons with competitors, and increased visibility into spreads offered by Vantage Markets.

“We’re committed to empowering traders with the tools they need to succeed,” remarked Marc Despallieres, Chief Strategy and Trading Officer. “Our latest developments reflect our dedication to becoming the premier destination for Indices CFD trading, providing clients with the edge they need in today’s dynamic markets.”

Indices CFD trading offers numerous advantages, including lower upfront capital requirements, leveraged trading options, and the flexibility to trade in any direction. With Vantage Markets, traders can capitalise on these benefits while tapping on a comprehensive suite of advanced tools and educational resources.

Additionally, the Vantage App has been enhanced with advanced charting tools, enabling traders to analyse market trends and execute trades with precision directly from their mobile devices.

“We’re excited to provide traders with a wealth of educational content and transparent pricing,” said Lian Jie, Assistant APP Marketing Director. “Our goal is to empower traders with the information they need to make confident decisions and succeed in the markets.”

Discover the future of Indices CFD trading with Vantage Markets. Visit https://www.vantagemarkets.com/lp/indices-trading/ to learn more.

About Vantage

Vantage is a multi-asset broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 13 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

http://www.vantagemarkets.com/

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WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

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TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”

Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.

Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.

Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.

“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”

Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.

Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.

About WSPN

WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.

Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.

Learn more: www.wspn.io  | Twitter | LinkedIn 

About MathWallet

MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.

Visit mathwallet.org for more information.

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Announcement of change in the total number of votes in AB SKF

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GOTHENBURG, Sweden, March 28, 2024 /PRNewswire/ — Due to a conversion of shares from Series A to Series B in accordance with AB SKF’s Articles of Association, the Company confirms the following.

As per 28 March 2024, the Company’s share capital amounts to SEK 1,138,377,670 and the total number of shares amounts to 29,286,933 shares of Series A and 426,064,135 shares of Series B. The number of votes in the Company amounts to 71,893,346.5.

AB SKF does not hold any own shares.

Aktiebolaget SKF
      (publ)

Information in this press release contains information that AB SKF is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication on 28 March 2024 at 08.00 CET.

CONTACT:

For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: [email protected] 

INVESTOR RELATIONS: Sophie Arnius, Head of Investor Relations
tel: 46 31-337 8072; mobile: 46 705-908 072; [email protected]  

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/announcement-of-change-in-the-total-number-of-votes-in-ab-skf,c3953982

The following files are available for download:

https://mb.cision.com/Main/637/3953982/2702083.pdf

20240328 Announcement of change in the total number of votes in AB SKF

 

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