All posts tagged: invests

Canada invests 9.8m into TRIUMF particle accelerator centre

Canada invests $399.8m into TRIUMF particle accelerator centre

In a monumental announcement today, the Canadian Government unveiled an unprecedented investment of $399.8m in funding for TRIUMF, Canada’s esteemed particle accelerator centre. This substantial financial commitment represents the largest infusion of support in TRIUMF’s history, signalling a profound endorsement of Canadian scientific research and innovation. With funding secured through 2030, the Canadian particle accelerator centre is poised to fortify its world-leading science programmes in nuclear and particle physics, life sciences, and materials sciences. This sustained financial support will bolster TRIUMF’s capacity to undertake pioneering research endeavours and maintain its position as a global leader in scientific exploration. Nigel Smith, TRIUMF Executive Director and CEO, commented: “The federal government has recognised the immense value of TRIUMF’s world-leading particle accelerator infrastructure, our community’s contributions to the national academic ecosystem and in training the next generation of STEM leaders, and the leadership we enable for Canada within international Big Science.” Empowering critical research initiatives The funding injection is poised to propel critical research and innovation efforts at TRIUMF, enabling national and international scientific communities to push the boundaries of …

EU invests €424m to strengthen alternative fuel infrastructure

EU invests €424m to strengthen alternative fuel infrastructure

The European Commission has announced it will fund €424m to advance the EU’s alternative fuel infrastructure. Optimising Europe’s alternative fuel supply will be essential for supporting the uptake of electric and hydrogen vehicles. The funding will support 42 projects across the alternative fuel supply chain, which have been selected under the Alternative Fuels Infrastructure Facility (AFIF) of the Connecting Europe Facility (CEF), the EU funding programme supporting European transport infrastructure. Director of the European Climate, Infrastructure and Environment Executive Agency (CINEA), Paloma Aba Garrote, commented on the funding: “We continue to support projects of paramount importance to the realisation of the objectives laid out under the EU Green Deal. “With this new selection, the European Union is showing that a transition to zero-emission transport through alternative fuels is not a dream for the future, but something that is happening now across the EU.” Supporting Europe’s zero-emission mobility The aim of the Connecting Europe Facility Alternative Fuels Infrastructure Facility call for proposals is to assist in the expansion of alternative fuel supply infrastructure, thereby aiding in the …

Amazon Invests .75B in Anthropic AI

Amazon Invests $2.75B in Anthropic AI

Amazon has this month announced a massive $2.75 billion investment in Anthropic, the AI company responsible for creating the newly launched Clause 3 AI models, marking a significant milestone in the realm of artificial intelligence. This strategic partnership is set to further push the generative AI revolution forward, using Anthropic’s cutting-edge Claude foundation models to transform customer experiences across a wide array of industries. By integrating these sophisticated models into Amazon’s Bedrock service, the collaboration aims to make advanced AI capabilities more accessible and adaptable to a diverse customer base. Anthropic’s foundation models named Claude, which are at the forefront of generative AI, excel in reasoning and synthesizing vast amounts of data. These capabilities hold immense potential for revolutionizing customer interactions in sectors such as finance, IT manufacturing, transportation, life sciences, and telecommunications. By harnessing the power of these models, businesses can deliver more personalized, efficient, and intelligent services to their customers. Amazon Anthropic Investment For instance, in the financial sector, generative AI can be employed to provide tailored investment advice, automate complex financial analysis, …

Amazon invests another .75B in Anthropic — reportedly ‘largest’

Amazon invests another $2.75B in Anthropic — reportedly ‘largest’

Join us in Atlanta on April 10th and explore the landscape of security workforce. We will explore the vision, benefits, and use cases of AI for security teams. Request an invite here. We previously reported on the news of e-commerce and cloud computing giant Amazon’s plan to invest $4 billion in OpenAI rival Anthropic. Today, Amazon announced it has finalized that investment at the full planned amount, putting in another $2.75 billion atop the $1.25 billion it originally committed last year. According to CNBC, it is Amazon’s “largest venture investment yet.” “We have a notable history with Anthropic, together helping organizations of all sizes around the world to deploy advanced generative artificial intelligence applications across their organizations,” said Dr. Swami Sivasubramanian, vice president of Data and AI at Amazon Web Services (AWS), the company’s lucrative cloud division and world’s largest provider of cloud services by revenue and customer base, in a prepared statement published on Amazon’s company blog. Sivasubramanian continued: VB Event The AI Impact Tour – Atlanta Continuing our tour, we’re headed to Atlanta …

DOE invests m to enhance US electrical grid with clean energy

DOE invests $44m to enhance US electrical grid with clean energy

The U.S. Department of Energy (DOE) has unveiled a strategic initiative aimed at bolstering the nation’s electrical grid with clean energy solutions. With an investment of $34m across eleven selected projects, the DOE is paving the way for a more resilient and sustainable US electrical grid powered by wind and solar energy. Additionally, the Department has announced a $10m funding opportunity to streamline the interconnection process for clean energy, further propelling the nation towards the ambitious target of achieving 100% clean electricity by 2035. Advancing electrical grid reliability with clean energy Renewable energy sources currently contribute up to 21% of the United States’ electricity supply, and the integration of low-cost renewables like solar and wind is crucial to meeting the country’s climate objectives. However, as the US electrical grid incorporates larger amounts of variable renewable energy, such as solar and wind, novel tools are essential to manage their intermittency effectively. Rising temperatures exacerbated by climate change, alongside the retirement of conventional power plants and the surge in demand from various sectors, pose significant challenges to …

City Sightseeing Oxford invests £4m in all-electric bus fleet

City Sightseeing Oxford invests £4m in all-electric bus fleet

City Sightseeing Oxford has launched a new all-electric fleet of open-top buses as Oxford Bus Company looks to deliver a decarbonised public transport system. The eight new vehicles, complete with glazed staircases and roof lights to improve views of the city, represent a £4 million investment and join the brand’s existing three retrofitted electric buses. The City Sightseeing Oxford team celebrated the launch recently alongside Stuart Crook, chair of Experience Oxfordshire; Hayley Beer-Gamage, CEO of Experience Oxfordshire; Enrique Ybarra, CEO of City Sightseeing Worldwide; and Lady Victoria Borwick, chair of the VisitEngland advisory board. Read the March 2024 issue of The Business Magazine, including our feature on skills Luke Marion, MD of Oxford Bus Company, said: “This is a landmark moment in our journey towards transforming our fleet of vehicles to zero-emission in Oxford. “The new City Sightseeing Oxford vehicles are powered by 100 per cent renewable electricity, and will help improve air quality and make Oxford an even more attractive place to visit. “This represents a significant investment in Oxford’s visitor economy and environment, …

Gloucestershire auctioneer invests in growth

Gloucestershire auctioneer invests in growth

A Gloucester-based auction house has upscaled its facilities and increased the volume of lots it can handle, after seeing a strong surge in demand for its goods and services. Asset Management Services (AMS), which sells more than £10 million worth of equipment each year, is seeing a new phase of growth, as more commercial buyers and contractors turn to auction houses to source products at competitive prices.  Now the business, which is set to increase its annual turnover by more than 25 per cent to £15 million this year, has completed move to a new purpose-built auction centre.  AMS specialises in the sale and disposal of large-scale assets including commercial and private vehicles, construction plant and agricultural machinery as well as machine tools. AMS’s most infamous asset sold at auction was a life size replica of Dr Who’s arch nemesis, the Dalek.  The expansion, which was supported by a £1 million loan from Lloyds Bank, gives AMS the extra space it needs to roll out a much wider range of lots to its customers and …

Australian Government invests 0m in rare earths refinery project

Australian Government invests $840m in rare earths refinery project

Australia’s government will inject AU$840m into a rare earths refinery in the country’s north as part of efforts to boost the country’s role in the energy transition supply chain. Prime Minister Anthony Albanese made the announcement on Thursday, saying the rare earths refinery in the Northern Territory, which will be operated by Australian miner Arafura, would position the country as a global leader in ethical and sustainable manufacturing of these minerals. Albanese explained: “My government is focused on a future made in Australia, and this project is an important part of that plan. “We will deliver critical jobs and economic development in the heart of the Territory and the north.” The importance of a domestic supply of rare earths Rare earths are a group of 17 elements, four of which are essential for permanent magnets used in a variety of technologies, including electric vehicle batteries and wind turbines. Australia has made efforts to reduce its dependence on China for the minerals. However, this remains difficult as China accounts for 70% of rare earth supplies, 85% …

Palletline invests £2m in cloud-based freight tracking tech

Palletline invests £2m in cloud-based freight tracking tech

Palletline has launched a new scanning system across its forklift truck fleet to better track pallets at its Birmingham and Coventry distribution hubs. ‘Palleteyes’ enables forklift drivers to scan a barcode on a pallet from two metres away, bringing up key delivery information. At the same time, two HD CCTV cameras are activated to record both close-up and wide-angle footage of the pallet’s complete journey from unload to bay to reload, which customers can track through a cloud-based portal. The system can also integrate with the forklift’s onboard systems to monitor driver performance and operational activity, and will sound an alarm if the driver attempts to lift a pallet heavier than 400kg above a height of 1.2m – in line with regulations. Read the March 2024 issue of The Business Magazine, including our feature on skills This £2 million investment is expected to deliver better quality control by eliminating inaccurate scans, while speeding up the company’s freight sorting process by 15 per cent or more. Marcus Newport, head of IT at Palletline, said: “This system …

Databricks invests in Mistral and integrates its AI models

Databricks invests in Mistral and integrates its AI models

Join leaders in Boston on March 27 for an exclusive night of networking, insights, and conversation. Request an invite here. Today, Databricks, the fast growing data infrastructure company led by Ali Ghodsi, announced a partnership with Paris-based Mistral, the well-funded startup that’s made waves in the global AI community with its growing family of highly-performant large language models (LLMs) — many of them, open sourced. Under the engagement, Databricks is investing an undisclosed amount in Mistral, adding to its series A round, and bringing select Mistral LLMs to its data intelligence platform. The move will see direct integration of the models, making it easier for enterprise users to use them with their data for generative AI applications — without any change to the security, privacy, and governance the Databricks platform already offers. The development marks the addition of another notable distribution partner for Mistral, which has been moving forward aggressively through industry partnerships. Just recently, it announced a similar partnership with Snowflake, which competes directly with Databricks through its data cloud offerings, as well as …