Market Newsdesk

LUND, Sweden, April 6, 2021 /PRNewswire/ — Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – becomes a partner in the Swedish company Liquid Wind, which develops electro-fuel facilities to produce renewable clean fuels. Alfa Laval will be part of the Liquid Wind board and contribute with its heat transfer expertise to improve the process efficiency and the overall heat and energy integration of the facilities. The closing date was March 15, 2021.

Liquid Wind is a Power-to-Fuel company which develops and finances commercial-scale eMethanol facilities. Each facility captures and concentrates biogenic carbon dioxide emissions from industry and combines it with hydrogen, made from renewable electricity and water, to produce green methanol. Alfa Laval has acquired a small stake in the company and will join the consortium together with; Carbon Clean, Siemens Energy and Haldor Topsoe. Based on its expertise in energy efficiency and optimization, Alfa Laval will be part of the board and contribute to the design of eMethanol facilities where heat exchangers will be installed as key components in the main system, as well as in the process steps of green hydrogen, carbon capture and methanol synthetization.

According to the World Energy Council, the global demand for carbon-neutral synthetic fuels, the so called P2X market where “x” can stand for methanol, hydrogen, methane, etc, is estimated to reach up to 20,000 TWh by 2050, which is equivalent to 50 percent of current fossil fuel consumption.  

“This is an important partnership as we together with other major players will be part of the growing Power-to-X market, and thereby drive the development of technical solutions that will have an impact on future fuel options,” says Susanne Pahlén Åklundh, President of the Energy Division. “With collaborations like this we expand the technical borders and contribute to create a more sustainable society.”

“We are very happy to strengthen the Liquid Wind consortium with a world class Swedish industrial player with unparalleled experience. Their valuable knowledge will increase efficiency and deliver additional shared value,” says Claes Fredriksson, CEO and Founder of Liquid Wind. 

Did you know that… green methanol is a commercially ready, liquid fuel predicted to play a key role in achieving carbon neutral shipping – and the first methanol-fuelled vessel was delivered already in 2016?

About Liquid Wind

Liquid Wind is a Power-to-Fuel Development Company committed to reducing carbon emissions. The company develops, finances, builds and manages replicable facilities for the production of eMethanol, to accelerate the transition to carbon neutral shipping and transportation. The facilities will produce renewable liquid fuel, so Liquid Wind can offer their customers the opportunity to quickly reach their sustainability goals.

www.liquidwind.se

This is Alfa Laval 

Alfa Laval is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress – always going the extra mile to support customers in achieving their business goals and sustainability targets.

Alfa Laval’s innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day.

Alfa Laval has 16,700 employees. Annual sales in 2020 were SEK 41.5 billion (approx. EUR 4 billion). The company is listed on Nasdaq OMX.

www.alfalaval.com

For more information please contact:

Johan Lundin

Head of Investor Relations

Alfa Laval

Tel: +46 46 36 65 10

Mobile: +46 730 46 30 90

Eva Schiller

PR Manager

Alfa Laval

Tel: + 46 46 36 71 01

Mobile: +46 709 38 71

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

https://news.cision.com/alfa-laval/r/alfa-laval-becomes-partner-in-unique-power-to-x-consortium-to-produce-renewable-clean-fuels,c3319912

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SOURCE Alfa Laval

NEW YORK, April 6, 2021 /PRNewswire/ — UTime Limited (“UTime” or the “Company”) (Nasdaq: UTME), a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally, today announced the pricing of its initial public offering of 3,750,000 shares of its ordinary shares at a price of US$4.00 per share to the public for a total of US$15 million of gross proceeds to UTime. 

The ordinary shares are expected to begin trading on the Nasdaq Capital Market on April 6, 2021 under the symbol “UTME.” The offering is expected to close on April 8, 2021, subject to customary closing conditions.

Boustead Securities, LLC (“Boustead”), acted as the lead underwriter for the offering, with Brilliant Norton Securities Company Limited and Fosun Hani Securities Limited serving as co-underwriters.

The offering has been made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Boustead Securities, LLC, via email: [email protected] or by calling +1 (949) 502-4408 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.

A registration statement relating to these securities was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on April 5, 2021.

This press release shall 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.

About UTime Limited

UTime Limited operates as a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally and helping low-income individuals from established and emerging markets. UTime Limited is mainly engaged in the design, development, production, sales and brand operation of mobile phones, accessories and related consumer electronics. UTime Limited values systematic management and organizes production with strict high-quality standards and production technologies. UTime Limited continuously endeavors to improve its overall manufacturing service level, to strengthen its cost control processes, and enhance its ability to respond rapidly to market dynamics for sustainable development in its Electronics Manufacturing Services segment.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Wonderful Sky Financial Group
Melody Pan
Tel: 852-3970-2265
E-mail: [email protected]

In the United States:

Wonderful Sky Financial Group
Sana Bao  
Tel: +1-917-975-5673
E-mail: [email protected]

For Company Inquiries, please contact:

Mengzhu Zhao
Tel: +86-755-86512181
E-mail: [email protected]

For Underwriter Inquiries Please Contact:

Boustead Securities, LLC
Daniel J. McClory, Head of China
Tel: +1 949 502 4408
Email:  [email protected]

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SOURCE UTime Limited

HAIFA, Israel, April 6, 2021 /PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT) and (TASE: ESLT) (“Elbit Systems” or “the Company”) announced today, further to the Company’s announcement of December 23, 2020, that its U.S. subsidiary, Elbit Systems of America, LLC (“Elbit Systems of America”), completed the acquisition of Sparton Corporation (“Sparton”) from an affiliate of Cerberus Capital Management, L.P. for a purchase price of $380 million. The closing follows receipt of all the required approvals, including receipt of U.S. Government and regulatory approvals.

Headquartered in De Leon Springs, Florida, U.S., Sparton is a premier developer, producer and supplier of systems supporting Undersea Warfare for the U.S. Navy and allied military forces.

Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “The growing importance of the maritime arena and the market position and technological strength of Sparton make this acquisition significant to our long-term growth strategy, with a particular focus on the U.S. We believe that the completion of this acquisition will be beneficial for both Elbit Systems’ and Sparton’s employees and customers.” 

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, YouTube and LinkedIn Channels.

Company Contact:
      

Joseph Gaspar, Executive VP & CFO
Tel:  +972-4-8316663
[email protected]

Rami Myerson, Director, Investor Relations
Tel: +972-77-2948984
[email protected]

David Vaaknin, VP, Head of Corporate Communications
Tel: +972-77-2946691
[email protected]

IR Contact:

Ehud Helft
Kenny Green
GK Investor Relations
Tel: 1-646-201-9246
[email protected]

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management’s current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company’s future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings.  The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

 

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SOURCE Elbit Systems Ltd

STOCKHOLM, April 6, 2021 /PRNewswire/ — IRRAS, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced a strategic collaboration with Aarhus University Hospital (AAUH) in Aarhus, Denmark, one of Scandinavia’s leading medical institutions.

Dr. Anders Korshøj, Associate Professor of Neurosurgery at Aarhus University Hospital, will lead the collaboration that will unite specialists from the hospital’s neurocritical care team and data analytics experts from The Aarhus University Center for Digitalization, Big Data and Data Analytics. The collaboration will focus initially upon the use of the company’s IRRAflow system to treat patients suffering from intraventricular hemorrhage (IVH). The facility’s use of IRRAflow in the treatment of IVH will be prospectively compared to the use of traditional drainage treatments in the pending ACTIVE clinical study. Beyond this study, other clinical and product development projects are also being planned.

Aarhus University Hospital is an 854-bed academic teaching hospital that, in 2020, was named Denmark’s best hospital for the 13th consecutive year by healthcare newspaper, Dagens Medicin. The institution was also recently ranked as the 11th best hospital in the world by the American publication, Newsweek. The hospital’s Departments of Neurosurgery and Neurointensive Care are leaders throughout all of Scandinavia as the departments are responsible for both general and highly specialized procedures for patients across all of Denmark.

IRRAflow is the world’s first “irrigating intracranial drain” and its unique mechanism of action addresses the complications associated with the current methods of managing intracranial fluid by using a dual-lumen catheter that combines automated irrigation, controlled drainage, and continuous monitoring of intracranial pressure (ICP), all within one system.

“It is my belief that the system’s combination of automated irrigation and controlled drainage should contribute to better long-term outcomes for these critically ill patients,” said Dr. Korshøj. “Furthermore, we believe that the system’s ability to measure pressure immediately after fluid movement is uniquely capable of measuring real-time intracranial compliance, and I am excited to partner with IRRAS to explore these hypotheses in greater detail.”

Traditional treatment options for IVH patients generally utilize an external ventricular drainage (EVD) system, which is a passive approach that relies solely on gravity to facilitate drainage. Although an EVD is currently the most common treatment option for intracranial bleeding or elevated ICP, the technology is associated with several well-known complications such as catheter blockage, infections, and incomplete drainage. All of these complications can negatively impact patient outcome, which can subsequently increase the length of time needed in the hospital and the overall cost of care.

“This collaboration with Aarhus University Hospital represents an important component of our launch strategy for IRRAflow,” said Will Martin, President and Chief Commercial Officer of IRRAS. “There is a compelling need in markets around the globe for transformative technologies, such as IRRAflow, to treat patients with intracranial bleeding, and we believe that our collaboration with Aarhus University Hospital to collect clinical data will advance the treatment of IVH and also accelerate the product’s awareness to a wider group of neurocritical care specialists.”

About IRRAS

IRRAS is a global medical care company focused on delivering innovative medical solutions to improve the lives of critically ill patients. IRRAS designs, develops, and commercializes neurocritical care products that transform patient outcomes and decrease the overall cost of care by addressing complications associated with current treatment methodologies. IRRAS markets and sells its comprehensive, innovative IRRAflow and Hummingbird ICP Monitoring product lines to hospitals worldwide through its direct sales organization in the United States and select European countries as well as an international network of distribution partners.

IRRAS maintains its headquarters in Stockholm, Sweden, with corporate offices in Munich, Germany, and San Diego, California, USA. For more information, please visit www.irras.com. 

IRRAS AB (publ) is listed on Nasdaq Stockholm (ticker: IRRAS).

For more information, please contact:

USA


Kleanthis G. Xanthopoulos, Ph.D.
CEO
[email protected]  

Europe


Sabina Berlin

CFO
+46 73 951 95 02
[email protected]

The information was released for public disclosure, through the agency of the contact person above, on April 6, 2021 at 08:30 (CET).

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

https://news.cision.com/irras/r/irras-announces-collaboration-with-aarhus-university-hospital–scandinavian-leader-in-neurosurgery–,c3319855

 

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SOURCE IRRAS

NEW YORK, April 6, 2021 /PRNewswire/ —  Pomerantz LLP is investigating claims on behalf of investors Arcimoto, Inc. (“Arcimoto” or the “Company”)(NASDAQ: FUV). Such investors are advised to contact Robert S. Willoughby at  [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Arcimoto and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On March 23, 2021, Bonitas Research (“Bonitas”) published a short-seller report addressing Arcimoto. In the report, Bonitas alleged that Arcimoto fabricated pre-orders to generate fake demand, only delivered on 19 of the 422 alleged pre-orders since 2018, sold 13 of these 19 pre-orders to an undisclosed related party, and failed to notify customers that Arcimoto had filed a total production recall notice with the the National Highway Traffic Safety Administration. 

Following publication of the Bonitas report, Arcimoto’s stock price fell $1.10 per share, or approximately 6.56%, to close at $15.67 on March 23, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP

NEW YORK, April 6, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Sierra Wireless, Inc. (“Sierra” or the “Company”) (NASDAQ: SWIR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Sierra and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On March 23, 2021, Sierra Wireless issued a press release announcing that the Company “discovered it was the subject of a ransomware attack on its internal IT systems on March 20, 2021.”  The Company stated that “[a]s a result of the ransomware attack, Sierra Wireless halted production at its manufacturing sites” and that its “website and other internal operations have also been disrupted by the attack.” Further, the Company stated that “[d]ue to these disruptions, Sierra Wireless is at this time withdrawing the First Quarter 2021 guidance it provided on February 23, 2021.” 

Following this news, Sierra Wireless’s stock price fell $2.07 per share, or 11.95%, to close at $15.25 per share on March 23, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]  
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP

NEW YORK, April 6, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of  Vroom, Inc. (“Vroom” or the “Company”) (NASDAQ: VRM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Vroom and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  

[Click here for information about joining the class action] 

On March 3, 2021, after the market closed, Vroom announced its fourth quarter and full year 2020 financial results in a press release. Therein, the Company reported that fourth quarter “Ecommerce Vehicle gross profit per unit decreased 13.1% to $878, driven primarily by lower sales margins, partially offset by improvements in inbound logistics and reconditioning costs per unit.”  Vroom also reported that for the fourth quarter, its “[n]et loss increased 41.9% to $60.7 million.” 

On this news, Vroom’s stock price fell $12.29 per share, or 27.9%, to close at $31.61 per share on March 4, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com 

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]  
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP