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LumiraDx, a Next-Generation Point of Care Diagnostics Testing Company to List on Nasdaq via Merger with CA Healthcare Acquisition Corp

• LumiraDx’s innovative diagnostic testing Platform has been in development since 2014 and is designed to offer a broad menu of tests with lab-comparable performance at a low cost and with results in less than 12 minutes at the point of care
• This transaction will drive LumiraDx’s pipeline of 30+ assays across common health conditions including infectious disease, cardiovascular disease, diabetes, and coagulation disorders to address a $50+ billion global market opportunity with LumiraDx Platform
• Company to be led by existing CEO Ron Zwanziger and a core group of executives who founded and grew other point of care diagnostic companies later sold for more than $10 billion
• High sensitivity COVID-19 antigen test currently being deployed globally in partnership with governments, health systems, retail chains and global health foundations to meet the urgent global health needs. COVID-19 Antibody, INR, and D-Dimer tests are available under CE Mark in Europe
• Key customers include CVS Pharmacy, the National Health Service in the UK, and The Bill and Melinda Gates Foundation
• No existing LumiraDx shareholders are selling as part of the transaction and all proceeds will be used to fund growth
• Estimating 2021 revenue of $600 million – $1 billion, up from $139 million in 2020
• Current global manufacturing production of >1,000 Platforms per week, capacity of more than 15 million tests per month and ramping significantly, since September 2020 more than 13,000 instruments have been shipped to over 60 countries
• LumiraDx also announced that it has secured $400 million in new debt financing, $300 million funded senior loan facility and a commitment letter for up to a $100 million for an asset-based revolving credit facility to further support its growth strategy and commercial ramp
• The pro forma enterprise value of the combined company is approximately $5.0 billion

BOSTON & LONDON–(BUSINESS WIRE)–
CA Healthcare Acquisition Corp (Nasdaq: CAHC), a special purpose acquisition company focused on investing in a growth-oriented healthcare company which recently raised $115 million in its initial public offering, today announced a definitive merger agreement with LumiraDx Limited (“LumiraDx”) a next-generation point of care (POC) diagnostics testing company. The combination reflects a value of $5.0 billion for Lumira’s existing equity, before giving effect to the transaction. Since its founding, LumiraDx has raised $700 million in equity capital including investments by Morningside Ventures, U.S. Boston Capital Corporation, The Bill & Melinda Gates Foundation, Petrichor Healthcare Capital Management and other global strategic partners.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210406006194/en/

LumiraDx has developed its high sensitivity antigen test for COVID-19 on the LumiraDx Platform. The test is currently being used by the National Health Service (NHS) and Boots in the UK, CVS Health in the U.S., a significant number of accident and emergency rooms in Italy and other parts of Europe and is being deployed in partnership with the Bill and Melinda Gates Foundation in a growing number of African countries where access to laboratory diagnostics is limited. The LumiraDx COVID-19 antigen test has received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) and achieved CE Mark. The LumiraDx Platform and COVID-19 antigen tests are also available in Japan and Brazil and being rolled out in more than 60 countries globally.

The LumiraDx Platform menu also includes point of care tests for COVID-19 Antibody, INR and D-Dimer – with high levels of accuracy comparable to central lab-based tests – all of which have achieved CE Mark and are commercially available in Europe. The Platform is designed to go wherever the patient is, whether this is in a hospital, medical office, pharmacy, or in other non-traditional settings such as schools or airports.

“LumiraDx is at the tipping point of driving a transformation in diagnostic testing. This new public recognition will solidify our already growing presence in the point of care testing market,” said Ron Zwanziger, Chairman and CEO of LumiraDx. “COVID-19 has demonstrated how important it is to have rapid and highly accurate diagnostic tests, at mass scale, and available everywhere. It has validated the performance of our Platform and enabled us to partner with governments, health systems, retail chains and other customers to expand testing across community care settings both in high and low-and middle-income countries. This access to increased testing will change the way care pathways are currently practiced, improving patient outcomes and saving human lives.”

“LumiraDx’s next-generation point of care solutions provide a significant opportunity for our shareholders,” said Larry Neiterman, Chairman and CEO of CAHC. “Ron and his management team have decades of entrepreneurial success in innovative diagnostics businesses and the LumiraDx Platform and testing menu offer healthcare providers and other customers major advantages over traditional central labs. LumiraDx has a clear strategy for addressing the large and underpenetrated testing market to increase next-generation POC market share. In the near-term, demand for fast, low-cost COVID-19 tests is driving strong and transformational growth for LumiraDx’s solutions.”

Ron Zwanziger and his proven management team will continue to lead LumiraDx post-transaction. He and a core group of executives founded LumiraDx in 2014 after previously founding and growing a number of successful POC diagnostic companies that were then sold to global healthcare companies for an aggregate consideration of more than $10 billion. The team’s previous leadership experience includes Alere, the industry’s largest point of care testing business, which was sold to Abbott in 2017.

LumiraDx – Next-Generation POC Diagnostics

LumiraDx is headquartered in the UK with R&D and manufacturing centers in Scotland, England and the U.S., and sales and marketing operations across Western Europe, the U.S., Japan, South Africa, Colombia and Brazil. The company has more than 1,200 employees across 17 countries.

The LumiraDx Platform simplifies, scales down, and integrates principles used in lab systems, to deliver accurate results compared to laboratory reference assays across a number of parameters, in a portable, easy-to-use point of care solution. The Platform has been designed to integrate the most commonly used assay technologies such as enzyme, immunoassay, molecular and electrolytes as well as sample types such as swab, saliva, and blood. The multi-channel, low-cost test strips allow for precise control and optimization of each test.

In addition to COVID-19, the Platform can perform tests that are commercially available or in development for other infectious disease, cardiovascular disease, coagulation disorders and diabetes. A number of regulatory submissions to expand the menu of available tests are planned or underway in the U.S., EU, UK, Japan as well as many other countries.

Later this year, subject to regulatory approval or clearance, LumiraDx also plans to launch Amira, a low-cost mass-screening and home testing system for COVID-19, which will support widespread efforts to safely reopen the economy. LumiraDx anticipates the retail price of Amira will be $2-4 per test, significantly lower than many existing COVID-19 tests currently on the market and estimates the incremental market opportunity at $5-15 billion. The company submitted a pre-EUA request to FDA in March 2021 and plans to achieve CE Mark for POC and over-the-counter applications in the fall of 2021.

LumiraDx estimates 2021 revenue of $600 million – $1 billion driven by the LumiraDx Platform usage, geographic expansion and Amira mass screening system.

$400 Million in Newly Secured Financing

LumiraDx also announced today that it has secured two new financing commitments totaling $400 million. BioPharma Credit PLC and its subsidiaries provided a $300 million loan to LumiraDx. In addition, Capital One, National Association has provided a commitment letter for up to $100 million on an asset-based revolving credit facility.

Summary of Merger Transaction

The transaction implies an equity valuation at closing for the combined company of in excess of $5.0 billion. All current LumiraDx shareholders will retain the entirety of their existing holdings in the combined company. The additional capital from the CACH’s cash held in trust, after any redemptions, together with the new financing commitments and cash from operations will provide growth capital to support increasing production, continued R&D activities and commercial and manufacturing expansion.

The combined company will be led by existing CEO Ron Zwanziger and the other Co-Founders, and LumiraDx’s existing board and governance principles will not change. Upon closing of the transaction, LumiraDx and its common shares are expected to trade on Nasdaq under the ticker symbol “LMDX.” The transaction is currently expected to close late Q2, early Q3 this year, subject to approval by the securityholders of each of CAHC and LumiraDx and satisfaction of customary closing conditions.

The transaction has been unanimously approved by the Board of Directors of both LumiraDx and CA Healthcare Acquisition Corp.

For a summary of the material terms of the proposed transaction, including a copy of the definitive agreement and investor presentation, please see the Current Report on Form 8-K to be filed today with the U.S. Securities and Exchange Commission (the “SEC”) by CAHC and available at www.sec.gov.

All materials may also be found athttps://www.cahcspac.com/investor-relations

Advisors

Evercore, Inc. and Raymond James & Associates, Inc. are serving as financial advisors to LumiraDx. BTIG, LLC is serving as financial advisor and capital markets advisor to CA Healthcare Acquisition Corp. Fried, Frank, Harris, Shriver & Jacobson LLP and Goodwin Procter LLP are serving as legal advisors to LumiraDx. Sidley Austin LLP is serving as legal advisor to CA Healthcare Acquisition Corp.

Additional Information

About LumiraDx

LumiraDx was founded in 2014 by a group of entrepreneurs: Ron Zwanziger, our Chairman and Chief Executive Officer; Dave Scott, Ph.D., our Chief Technology Officer; and Jerry McAleer, Ph.D., our Chief Scientist, who have a successful track record in building and scaling diagnostics businesses over three decades, including at companies such as Medisense, Inc., Inverness Medical Technology Inc. and Alere Inc. The company is supported by institutional and strategic investors including the Bill & Melinda Gates Foundation, Morningside Ventures, U.S. Boston Capital Corporation, and Petrichor Healthcare Capital Management. Based in the UK and supported by its worldwide affiliates to provide access in all major markets, LumiraDx has more than 1,200 employees worldwide.

LumiraDx develops, manufactures and commercializes an innovative point of care diagnostic Platform. The LumiraDx Platform is designed to deliver lab comparable diagnostic results at the point of care in minutes. It is designed to be affordable and accessible for healthcare providers globally, and to strengthen community-based healthcare.

Further information on LumiraDx and the LumiraDx Platform is available at www.lumiradx.com

About CA Healthcare Acquisition Corp.

CA Healthcare Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. For more information, visit www.cahcspac.com/.

Forward-Looking Statements

Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or CAHC’s or LumiraDx’s future financial or operating performance. For example, projections of future revenue, total addressable market and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by CAHC and its management, and LumiraDx and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: 1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against CAHC, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the securityholders of CAHC or LumiraDx, to obtain financing to complete the business combination or to satisfy other conditions to closing; 4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; 5) the ability to meet the Nasdaq’s listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of LumiraDx as a result of the announcement and consummation of the business combination; 7) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers, manufacturers and suppliers and retain its management and key employees; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that LumiraDx or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) LumiraDx’s estimates of its financial performance; and 12) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in CAHC’s Registration Statement on form S-1 filed with the SEC on January 8, 2021 and the registration statement on Form F-4 and proxy statement/prospectus discussed below. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither CAHC nor LumiraDx undertakes any duty to update these forward-looking statements, except as otherwise required by law.

Use of Projections

This press release contains financial forecasts of LumiraDx, namely LumiraDx’s projected revenue for 2021. Neither LumiraDx’s independent auditors, nor the independent registered public accounting firm of CAHC, audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release. These projections should not be relied upon as being necessarily indicative of future results. The projected financial information contained in this press release constitutes forward-looking information. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the projected financial information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such projections will be achieved.

Additional Information About the Proposed Business Combination and Where to Find It

In connection with the proposed business combination, LumiraDX intends to file with the SEC a registration statement on Form F-4 containing a preliminary proxy statement of CAHC and a preliminary prospectus of LumiraDx, and after the registration statement is declared effective, CAHC will mail a definitive proxy statement/prospectus relating to the proposed business combination to its shareholders. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. CAHC’s shareholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the proposed business combination, as these materials will contain important information about LumiraDx, CAHC and the proposed business combination. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to shareholders of CAHC as of a record date to be established for voting on the proposed business combination. Such shareholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to CA Healthcare Acquisition Corp., 99 Summer Street, Suite 200 Boston, MA 02110.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Participants in the Solicitation

CAHC and its directors and executive officers may be deemed participants in the solicitation of proxies from CAHC’s shareholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in CAHC is contained in CAHC’s Registration Statement on form S-1 filed with the SEC on January 8, 2021, which is available free of charge at the SEC’s website at www.sec.gov. Additional information regarding the interests of such participants will be contained in the proxy statement/prospectus for the proposed business combination when available.

LumiraDx and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of CAHC in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination will be included in the proxy statement/prospectus for the proposed business combination when available.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210406006194/en/

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LumiraDx Platform and Test Strip (Photo: Business Wire)

Technip Energies Awarded a Significant Contract by Indian Oil Corporation to Upgrade the Barauni Refinery in India

PARIS–(BUSINESS WIRE)–
Regulatory News:

Technip Energies (PARIS:TE) has been awarded a significant⁽¹⁾ Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) for its BR9 Expansion Project in Barauni, Bihar, in the Eastern part of India.

This EPCC contract covers the installation of a new Once-through Hydrocracker Unit (OHCU) of 1 million metric tonnes per annum (MMTPA) capacity, a Fuel Gas Treatment Unit (FGTU) and the associated facilities. The OHCU, in combination with downstream refinery units, will enable production of BS VI Grade fuels – similar to Euro VI Grade fuels – and petrochemicals.

Bhaskar Patel, Senior Vice President India Business Unit at Technip Energies commented: “We are very pleased to have been awarded this contract by Indian Oil Corporation Limited. This award demonstrates our long-term commitment in India and substantially consolidates our positioning in High Operating Pressure projects. It also strengthens our position as a leading provider of key projects to the major players in India’s domestic energy sector.”

IOCL’s Barauni refinery, built in 1964, is the second refinery to be built in India. The BR9 Expansion project shall enhance refinery capacity from 6 MMTPA to 9 MMTPA and will add petrochemicals such as Polypropylene into Barauni refinery’s product portfolio.

Technip Energies has a strong footprint in India with local presence in Delhi, Mumbai, Chennai and Dahej.

⁽¹⁾ For Technip Energies, a “significant” contract is between €50 million and €250 million.

Note: this award is included in the Company’s first quarter 2021 financial results.

To know more about Technip Energies refining and petrochemicals capabilities:

We are known as a world-class player in the refining industry – from conceptual design to turnkey delivery. Our services cover the entire value chain for refining projects and integrated petrochemical complexes.

Learn more on: https://www.technipenergies.com/markets/refining

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.

Disclaimers

This release is intended for informational purposes only for the shareholders of Technip Energies. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.

Important Information for Investors and Securityholders

Forward-Looking Statement

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.

All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210406006160/en/

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Posted on April 7, 2021 12:58 am

Absen Builds Asia’s Largest 8K Ultra HD Virtual Studio

PR Newswire

SHENZHEN, China, April 7, 2021 /PRNewswire/ — LED virtual studios are an emerging technology that has come under the spotlight in recent years in both Chinese and international professional film shooting markets. Integrating the latest LED display technology with a virtual camera system and real-time rendering system, LED virtual studios bring extraordinary effects of cinematography. Thanks to the strength of its innovation, Absen has just built and launched Asia’s largest indoor panoramic LED stereoscopic virtual studio, which will now go into use.

The stereoscopic LED virtual studio is 6 meters high and has a diameter of 24 meters, taking up a total area of more than 700 square meters, and consisting of a ceiling screen and a curved screen.

This is the first attempt by China’s film and television market to construct such a structure. Through relentless innovation and a drive to constantly try new things, the Absen team finally solved technical problems with steel welding, load-bearing, ceiling fixing, and connecting the ceiling and backdrop curved screen.

Absen’s LED display makes use of a PWM constant current LED driver, which greatly improves image display and grayscale level, so that even the darkest textures in a picture are visible. The dynamic and vividly vibrant image effects mean that everything in the picture comes out clearly.  In addition, Absen’s LED display has a high refresh rate, enabling it to quickly respond to a dynamic picture and synchronize with a high-speed camera without leaving any trace of scanning lines. This technology has allowed it to “surmount many pan-focusing challenges and become an alternative to shooting on location.”

With the help of Absen’s giant panoramic 270 LED display, completely real-time, “what you see is what you get” film and television production now is a reality.

By directly viewing the shooting environment and modifying scene effects in real time, creators have more flexibility to actualize their artistic ideas. Now epic, grand-scale photography can be done even in a limited space, saving time, energy and the need for an actual change of scenery. The LED virtual studio can also accurately produce light sources and the reflection and refraction effects of its reflectors are almost indistinguishable from reality, making video truer to life.

LED virtual studios already play a significant role in film and television shooting, and are set to become a major trend in the photography industry in the near future.

Absen virtual studio LED solutions has excellent performance:

• 10/12bit input and 16bit output with HDR support;
• Absen LED panels are able to work with higher frame rates which can reach up to 144 frames per second, it makes it possible to shoot slow-motion visual effects with over-cranked cameras against LED screens and still retain perfect synchronization between screen and camera.
• Low latency with frame delays as low as 1 frame;
• The genlock can lock the processor at the camera shutter to achieve seamless synchronization of virtual scenes and character movements.

At present, the LED virtual studio Absen launched has been adopted by TransQuebec.inc. XR Studio in Canada, Channel 5 in Russia, Catalyst Connect in the UK, Show Imaging Studio in the US, and many other films and television producers. These examples of its application in industry demonstrate its significant advantages. Absen has also been continuously developing other new technologies and products, with the aim of bringing more practical solutions to the market.

View original content to download multimedia:http://www.prnewswire.com/news-releases/absen-builds-asias-largest-8k-ultra-hd-virtual-studio-301263719.html

SOURCE Absen.com

Posted on April 7, 2021 12:11 am

Ebang International Responds to Short Seller Report

HANGZHOU, China, April 06, 2021 (GLOBE NEWSWIRE) — Ebang International Holdings Inc. (Nasdaq: EBON, the “Company”), a blockchain technology company, today issued the following statement in response to the short seller report issued by Hindenburg Research (the “Hindenburg Report”), a short selling research firm, on April 6, 2021.

Based on the review by the Company’s management team, we believe that the Hindenburg Report contain many errors, unsupported speculations and inaccurate interpretations of events.   The Company’s Board of Directors has also been made aware of the Hindenburg Report. The Board, together with its Audit Committee, intends to further review and examine the allegations and misinformation therein and will take whatever necessary and appropriate actions may be required to protect the interest of its shareholders.  

The Company endeavors to provide full and accurate disclosure to investors and rebut any false claims that attempt to impair market confidence in EBON’s business, operations and financial statements. The Company is committed to maintaining the highest standards of corporate governance, as well as transparent and timely disclosure in compliance with the applicable rules and regulations of the United States Securities and Exchange Commission and the Nasdaq Exchange.

About Ebang International Holdings Inc.

Ebang International Holdings Inc. is a blockchain technology company with strong application-specific integrated circuit (ASIC) chip design capability. With years of industry experience and expertise in ASIC chip design, it has become a leading bitcoin mining machine producer in the global market with steady access to wafer foundry capacity. With its licensed or registered entities in various jurisdictions, the Company seeks to launch a professional, convenient and innovative digital asset financial service platform to expand into the upstream and the downstream of blockchain and cryptocurrency industry value chain. For more information, please visit https://ir.ebang.com.cn/.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s development plans and business outlook, which can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aims,” “potential,” “future,” “intends,” “plans,” “believes,” “estimates,” “continue,” “likely to” and other similar expressions. Such statements are not historical facts, and are based upon the Company’s current beliefs, plans and expectations, and the current market and operating conditions. Forward-looking statements involve inherent known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance and achievements to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made only as of the date indicated, and the Company undertakes no obligation to update or revise the information contained in any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.

Investor Relations Contact

For investor and media inquiries, please contact:

Ebang International Holdings Inc.
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Ms. Tina Xiao
Tel: (917) 609-0333
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Posted on April 7, 2021 12:04 am

NIU Technologies reveals Global Strategy and Product Launch to target the urban micromobility segment in the United States, Europe, and China

PR Newswire

CHANGZHOU, China, April 7, 2021 /PRNewswire/ — NIU Technologies (NASDAQ: NIU), the world’s leading provider of smart urban mobility solutions, announced today the launch of five new electric urban mobility vehicles for China and global markets at NIU’s annual product launch. The company’s CEO Dr. Yan Li introduced four new electric scooters for China, and the company’s first ever electric kick scooter. The NIU KICK SCOOTER will be available to customers this summer in the United States and Europe.

The NIU KICK SCOOTER is designed to further penetrate the urban mobility space by offering the best-in-class micromobility solution for customers in cities across the United States and Europe. Having already opened the European and US markets to electric mopeds, NIU is adding the kick scooter to its micro mobility portfolio to help solve the 1 to 3 mile (1-5km) commuting needs of urban citizens. NIU has also established a “Last Mile” mobility R&D team to focus on creating new micromobility vehicles for global markets. All of NIU’s vehicles are app-connected and powered by the latest lithium-ion battery technology.

“We believe we have created the most comfortable electric kick scooter riding experience for under $1000, and of course we wanted to provide a superior ride performance too”, says Dr. Yan Li, CEO of NIU Technologies. The comfort is found in the details of NIU KICK SCOOTER’s more robust frame, handlebars and stem, and the 9.5″x 2.5″ wide pneumatic tires to create a smooth gliding experience.

The NIU KICK SCOOTER will start at $599 USD (€599 in Europe) with two versions — the Pro and Sport models. For the United States models, the Pro has a top speed of 19.8mph and the Sport a top speed of 17.4mph. In Europe both versions will have a regulated top speed of 25km/h. The NIU KICK SCOOTER Pro has a range of 31 miles (50km) on a single 6-hour charge, and the NIU KICK SCOOTER Sport will have a range of 25 miles (40km) on a single 5-hour charge. The NIU KICK SCOOTER will be available for an online pre-sale starting in June 2021 with delivery in the USA and Europe in July 2021. Global retail sales will begin in August 2021 and the NIU KICK SCOOTER can be purchased online or in any of NIU’s 1,000+ dealers and flagship stores in Europe and North America.

“Part of our vision is to redefine urban mobility, and adding kick scooters to our lineup is our commitment to our customers and fans around the world to provide them with affordable mobility solutions that they can be proud of owning and also rely on for their daily commute”, commented Dr. Yan Li.

The NIU KICK SCOOTER Pro will be connected via an app and powered by a 350W motor and 486Wh lithium-ion battery pack while the NIU KICK SCOOTER Sport will be powered by a 300W motor and 365Wh lithium-ion battery pack. The NIU KICK SCOOTER is IP54 water resistant making it perfect for all-weather riding conditions. Conveniently, the E-SAVE mode and regenerative braking technology will boost the riding range for extended weekly commuting. The foldable design combined with the robust suspension and frame sets it apart from the current offerings in the market. The NIU KICK SCOOTER will offer a more comfortable riding experience in the micro mobility space, and cater to multiple short journeys, and longer commutes.

About NIU

As the world’s leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance smart electric mopeds and other two or three wheelers powered by lithium-ion battery. Since its founding in 2014, NIU has been growing its global brand across Europe, Asia and the Americas. NIU has a streamlined product portfolio consisting of eight series – NQi, MQi, UQi, RQi, TQi, Gova, NIU Aero and NIU Kick Scooter with multiple models or specifications for each series. NIU’s streamlined product portfolio that addresses the needs of different segments of the modern urban resident, while being united through a common design language that emphasizes style, freedom, and technology. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell our products and provide services. NIU has received numerous prestigious international design awards, including the German Red Dot and IF, the United States iDEA, the Japanese G-Mark, and the Chinese Red Star. For more information, please visit www.niu.com/en/.

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SOURCE NIU Technologies

Posted on April 7, 2021 12:04 am

Clean Power Shares Announcement by PowerTap of the Appointment of Yves Gionet to the PowerTap Advisory Board

VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). As an investor of PowerTap Hydrogen Fueling, the Company wishes to share PowerTap’s announcement that it has appointed Mr. Yves Gionet to the PowerTap advisory board.

For a full copy of PowerTap’s recent announcement, please see PowerTap’s news release at the following link: https://www.globenewswire.com/fr/news-release/2021/04/05/2204549/0/en/PowerTap-Announces-Appointment-of-Former-Toyota-Executive-Yves-Gionet-to-the-PowerTap-Advisory-Board.html

About Clean Power Capital Corp.

Clean Power is an investment company, that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in its investments.

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Clean Power Contact
Raghu Kilambi, CEO
[email protected]
604-687-2038

PR Contact Vito Palmeri AMW PR
c: 347.471.4488 | o: 212.542.3146
[email protected]

Notice Regarding Forward Looking Information:

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward- looking information contained in this press release.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.