Business Models for Sustainable Manufacturing

BUSINESS MODELS FOR SUSTAINABLE MANUFACTURING
Sustainable business strategies are bringing significant financial and environmental benefits to manufacturers. Sustainable manufacturing creates goods while minimizing environmental consequences and preserving energy and natural resources. In addition, sustainable production improves the safety of workers, the community, and the products they produce.

Allied Market Research projects that the worldwide renewable energy market will reach $1,977.6 billion by 2030, increasing at an 8.4% CAGR. As a result, we can conclude that many businesses are transitioning from traditional manufacturing to sustainable manufacturing.

It’s a good time to be a part of the renewable energy industry. New technologies are coming to market every day, and we work in an industry that is trying to solve an enormous challenge.

– Susan Stone, Chief Executive Officer at Ubiquitous Energy, Inc., in conversation with Media 7

Though many organizations are pioneering the sustainable manufacturing approach, we have selected five of the most well-known companies making serious attempts to be sustainable manufacturing companies by all means.
In addition to the list of sustainable manufacturing businesses, this article will discuss the advantages of sustainability and how organizations may become carbon neutral. So let's get started.


Top 5 Companies with a Sustainable Business Model

The following are five manufacturing businesses that are investing in sustainable manufacturing methods across their production processes to become more responsive to our mother earth.


Philips Electronics

The company is reducing its environmental effect by engaging with suppliers, taking climate action, and driving the shift to a circular economy. Climate change is a key concern for Philips. So they are rethinking their business strategies and decoupling economic development from environmental and social impacts.

They met their aim of becoming 100% carbon-neutral in their operations and procuring 100% of their power from renewable sources by 2020. They intend to obtain over 75% of their total energy usage from renewable sources by 2025 and to reduce CO2 emissions across their whole value chain to meet the 1.5°C global warming state.


Schott

Sustainability is profoundly embedded in SCHOTT's DNA. It derives from their distinctive business concept, which dates back to 1896. Their sustainability plan includes responsible governance, workers, society, environment, and climate.

“Regarding climate change, it is high time to act. Everyone must take responsibility – politicians, companies and society. We are ready to play our part. We want to become climate neutral by 2030.”

- Dr. Jens Schulte, Member of the Board of Management with responsibility for the “Zero Carbon” strategy program

Long-term thought and responsible behavior are guiding principles of SCHOTT, which is why they care about the environment and climate. They are entering a new era of sustainable management with their “Zero Carbon” strategic program.
Long term, they seek to eliminate fossil fuels as soon as technology allows it. They are focused on the most energy-intensive stage of glass melting to create new solutions.


IKEA

IKEA's low-cost furniture utilizes a lot of wood. But because the company employs sustainable forestry practices, your new minimalist nightstand didn't cost the globe a rainforest. The business is also investing heavily in solar and wind energy. This year, the corporation intends to increase its already significant expenditures in renewable energy, to reach 100% clean energy by 2020. It also leads in offering cleaner, greener products.


Nike

In addition to encouraging people to walk, this footwear manufacturer uses recycled aluminum frames in its headquarters in the Netherlands, and underground energy storage to reduce its carbon footprint. Moreover, it has implemented stringent emission regulations at all of its manufacturing facilities and has cut its overall carbon footprint by around 80 % since the late 1990s. The company also sells the most environmentally-friendly soccer sneakers on the market.


Johnson & Johnson

According to the company, Johnson & Johnson has just begun transitioning a significant portion of its energy reliance to solar power in an effort to become the world's most socially responsible organization. Currently, it is the second-largest user of solar energy in the United States, with more than half of its power coming from environmentally friendly sources.


Rewards of Adopting Sustainable Manufacturing Practices

Many businesses are seeking sustainability for many reasons, including:
  • Reduces operating expenses and waste
  • Responds to new consumers and get a competitive edge
  • Builds public trust and protect brand and reputation
  • Creates long-term business viability
  • Recognizes and address regulatory constraints


What Can We Do to Make Sustainable Manufacturing a Reality?

Every business must support green energy projects. Here are some fundamental actions that every business should take to transform itself into a sustainable manufacturing organization.  


Maximize the Efficacy of Fossil Fuels 

In today's society, energy conservation is a win-win situation. Approximately half of the world's known oil reserves have been exhausted, which means we are near to the point of diminishing returns in terms of supply. As far as we know, there hasn't been a shortage of supplies. Shutting down unwanted equipment might help you save money immediately. Replace a single-speed motor with a variable speed or servo drive. Use a hydraulic pump with variable speed. Wind, solar, and hydropower can also be used to conserve energy.


Reduce or Eliminate Waste

Don't overindulge; merely take in what you need to get the task done. At this point, we may all agree that it's easy, but in the past, our primary focus was on reducing production costs or time to market. Whether we were wasting resources was unknown or irrelevant to anyone. Metal, paper, and packaging are all examples of industries where this is true. The potential for waste reduction may justify the purchase of highly accurate production equipment.


Recycle

As a byproduct of manufacturing, metals may be easily recycled and used for new products. In addition, recycling metal saves money and energy since it uses less energy in the manufacturing process, allowing for a 60 % or more reduction in the energy needed to make new products.


Final Words

Sustainable manufacturing practices are making manufacturing industries more socially responsible and carbon neutral. This new manufacturing method is necessary for today's period because we must consider future generations while improving today's. Natural resources must be conserved before depleting, and we have nothing left to offer future generations. Responsible organizations have already used this sustainable approach in their manufacturing processes, and we anticipate that every company should consider this method to be more sustainable and environmentally responsible.


FAQ


What is the difference between green and sustainable manufacturing? 

The main difference between green and sustainable is that green addresses a single aspect i.e., environmental health, but sustainability addresses the entire system, including economic, social, and environmental aspects.


Which business is more environmentally friendly? 

According to Corporate Knights, Alphabet, Tesla, and AstraZeneca were among the world's most sustainable companies in the Global 100 Index for 2021.


What are the four sustainability factors?

The word sustainability refers to programs, activities, and actions to preserve a resource. But it relates to four unique key areas. Human, social, economic, and environmental are the four pillars or factors of sustainability.

Spotlight

Machinery Marketing International

Machinery Marketing International, LLC (MMI) has been in the business of buying and selling used CNC machines directly from end user to end user for more than 20 years. MMI has CNC machines for sale from top brand names including Haas, Amada, Mazak, Mori Seiki, Okuma, Fadal, Doosan, Daewoo, Bridgeport, Cincinnati and many more! MMI’s full range of services includes buying and selling used CNC machines, asset recovery, liquidations, scrapping, logistics and financing for used CNC machines.

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Computer Aided Manufacturing (CAM): Major Challenges and Their Solutions

Article | December 16, 2021

Computer-aided manufacturing (CAM) is a technology that revolutionized the manufacturing business. Pierre Bézier, a Renault engineer, produced the world's first real 3D CAD/CAM application, UNISURF CAD. His game-changing program redefined the product design process and profoundly altered the design and manufacturing industries. So, what is CAM in its most basic definition? Computer-aided manufacturing (CAM) is the application of computer systems to the planning, control, and administration of manufacturing operations. This is accomplished by using either direct or indirect links between the computer and the manufacturing processes. In a nutshell, CAM provides greater manufacturing efficiency, accuracy, and consistency. As technology takes over and enhances many of the processes we used to handle with manual labor, we are freed up to use our minds creatively, which leads to bigger and better leaps in innovation and productivity.” – Matt Mong, VP Market Innovation and Project Business Evangelist at Adeaca In light of the numerous advantages and uses of computer-aided manufacturing, manufacturers have opted to use it extensively. The future of computer-aided manufacturing is brightening due to the rapid and rising adoption of CAM. According to Allied Market Research, the global computer-aided manufacturing market was worth $2,689 million in 2020 and is expected to reach $5,477 million by 2028, rising at an 8.4% compound annual growth rate between 2021 and 2028. Despite all this, each new development has benefits and challenges of its own. In this article, we'll discuss the benefits of CAM, the challenges that come with it, and how to deal with them. 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Greater precision and consistency, with similar components and products Less downtime due to computer-controlled devices High superiority in following intricate patterns like circuit board tracks Three Challenges in CAM and Their Solutions We have focused on the three primary challenges and their solutions that we have observed. Receiving Incomplete CAD Updates Receiving insufficient CAD updates is one of the challenges. If, for example, the part update from a CAD engineer does not include the pockets that are required in the assembly, to the CAM engineer. SOLUTION: A modeler that enables developers of a CAM programs to create intuitive processes for features such as feature extraction and duplication across CAD version updates. A modeler is capable of recognizing and extracting the pocket's architecture and the parameters that define it. Additionally, the CAM application can enable the engineer to reproduce the pocket in a few simple steps by exploiting the modeler's editing features such as scaling, filling, extruding, symmetrical patterning, and removing. Last Minute Design Updates The second major challenge is last-minute design changes may impact manufacturers as a result of simulation. SOLUTION: With 3D software components, you may create applications in which many simulation engineers can work together to make design modifications to the CAD at the same time, with the changes being automatically merged at the end. Challenging Human-driven CAM Manufacturing The third major challenge we have included is that CAM engineers must perform manual steps in human-driven CAM programming, which takes time and requires expert CAM software developers. Furthermore, when the structure of the target components grows more complicated, the associated costs and possibility of human failure rise. SOLUTION: Self-driving CAM is the best solution for this challenge. Machine-driven CAM programming, also known as self-driving CAM, provides an opportunity to improve this approach with a more automated solution. Preparing for CAM is simple with the self-driving CAM approach, and it can be done by untrained operators regardless of part complexity. The technology handles all of the necessary decisions for CAM programming operations automatically. In conclusion, self-driving CAM allows for efficient fabrication of bespoke parts, which can provide substantial value and potential for job shops and machine tool builders. Computer Aided Manufacturing Examples CAM is widely utilized in various sectors and has emerged as a dominant technology in the manufacturing and design industries. Here are two examples of sectors where CAM is employed efficiently and drives solutions to many challenges in the specific business. Textiles Virtual 3D prototype systems, such as Modaris 3D fit and Marvellous Designer, are already used by designers and manufacturers to visualize 2D blueprints into 3D virtual prototyping. Many other programs, such as Accumark V-stitcher and Optitex 3D runway, show the user a 3D simulation to show how a garment fits and how the cloth drapes to educate the customer better. Aerospace and Astronomy The James Webb Space Telescope's 18 hexagonal beryllium segments require the utmost level of precision, and CAM is providing it. Its primary mirror is 1.3 meters wide and 250 kilograms heavy, but machining and etching will reduce the weight by 92% to just 21 kilograms. FAQ What is the best software for CAM? Mastercam has been the most extensively utilized CAM software for 26 years in a row, according to CIMdata, an independent NC research business. How CAD-CAM helps manufacturers? Customers can send CAD files to manufacturers via CAD-CAM software. They can then build up the machining tool path and run simulations to calculate the machining cycle times. What is the difference between CAD and CAM? Computer-aided design (CAD) is the process of developing a design (drafting). CAM is the use of computers and software to guide machines to build something, usually a mass-produced part.

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It's Time to Redesign Your Business with Manufacturing Analytics

Article | December 21, 2021

Consumer demand has shifted dramatically in recent years, and manufacturers are trying to adapt to this shift. To maintain high product quality, minimize costs, and optimize supply chains, manufacturing analyticshas become essential for manufacturers. Manufacturing analyticsis the process of gathering and analyzing data from various systems, equipment, and IoT devices in real-time to get essential insights. As technology takes over and enhances many of the processes we used to handle with manual labor, we are freed up to use our minds creatively, which leads to bigger and better leaps in innovation and productivity. – Matt Mong Manufacturing analyticscan assist in maintaining production quality, boost performance with high-profit returns, decrease costs, and optimize supply networks. This article will outline manufacturing analyticsand present a list of possible application cases. It will also highlight the benefits of manufacturing analyticsfor any shop floor or factory. Manufacturing analytics: An Overview With manufacturing analytics, we can streamline and speed up the entire process. Data interchange and automation helps in speeding up the production process. Manufacturing analyticsuses predictive manufacturing, big data, Industrial IoT, network virtualization, and machine learningto produce better scalable production solutions. Manufacturing analyticscollects and analyses data from many sources via sensors embedded in machinery to identify areas for improvement. Data is collected and presented in an easy-to-understand structure to illustrate where difficulties emerge throughout the process. In short, manufacturing analyticscollects and analyses large volumes of data to reveal insights that might improve performance. Users can also obtain automated business reports to reply in real-time. Why Manufacturing analytics is Vital for Leading Businesses There are numerous benefits of manufacturing analyticsthat drive any company’s production and overall manufacturing business growth. The benefits of manufacturing analyticsfall into three distinct categories as below. It reduces the overall cost: Analytics may save a significant amount of money if used more efficiently. Labor costs are also reduced due to automation and semi-autonomous machinery. Similarly, preventive and prescriptive maintenance programs may save money while enhancing productivity. It boosts profits for businesses: Manufacturers can respond swiftly to changes in demand using real-time insights in production, inventory management, and demand and supply forecasting. For example, assume the data indicates that they are approaching their maximum capacity. In such instances, they can increase over time, increase capacity, modify procedures, or tweak other production areas to adapt and maintain delivery times. Other unforeseen benefits: There are several advantages to the increased capabilities enabled by manufacturing analytics. These benefits include lower energy use, safer environmental practices, fewer compliance failures, and more customer satisfaction. Five Real-world Applications of Manufacturing Analytics Predictive Maintenance A machine's analytics uses aggregate data from real-time detectors to anticipate when it needs to be replaced or functioning irregularly. This process helps predict machine failure or equipment defects. Analytics can assist in determining a plant's capacity and how many products are produced by the unit in every production cycle, which is helpful in capacity planning. In addition, analytics may help determine the ideal number of units to create over time by considering capacity, sales predictions, and parallel schedules. Predictive analytics solutions can automate maintenance requests and readings that shortens the procedure and reduce maintenance expenses. Product Development Product development is an expensive process in manufacturing. As a result, businesses must invest in R&D to develop new product lines, improve existing models, and generate new value-added services. Earlier, this approach was in place by repeated modeling to get the finest outcome. This approach can now be modeled to a large extent, with the help of data science and technologically superior analytics. Real-world circumstances can be replicated electronically using "digital twins" and other modeling approaches to anticipate performance and decrease R&D expenses. Demand Forecasting Many factors that might help in the plan significant capital expenditures or brief breakdowns can be explained using historical data and a few high-impact variable strategies. For example, consider the seasonality of products like ice cream. As a result, historical market data and a few high-impact factors can help explain numerous variables and plan major capital expenditures or short-term shutdowns. In addition to demand forecasting, predictive analytics incorporates advanced statistical techniques. With predictive analytics, a wide range of parameters, including customer buying behavior, raw material availability, and trade war implications, may be taken into consideration. Warranty Analysis Warranty support may be a load for many manufacturers. Warranties are frequently based on a "one-size-fits-all" approach that is broader. This approach introduces uncertainty and unanticipated complications into the equation. Products may be modified or updated to decrease failure and hence expense by using data science and obtaining information from active warranties in the field. It can also lead to better-informed iterations for new product lines to minimize field complaints. Managing Supply Chain Risks Data may be recorded from commodities in transit and sent straight from vendor equipment to the software platform, helping to enable end-to-end visibility in the supply chain. Manufacturing analyticsallows organizations to manage their supply chains like a "control tower," directing resources to speed up or slow down. They may also order backup supplies and activate secondary suppliers when demand changes. Final Words Businesses should adapt to changing times. Using analytics in manufacturinghas altered the business industry and spared it from possible hazards while boosting production lines. Industry 4.0's route has been carved. Manufacturing analyticsis the key to true Industry 4.0, and without it, the data produced by clever IoT devices is meaningless. The future is data-driven, and success will go to those who are ready to adopt it. The faster adoption, the sooner firms go ahead of the competition. FAQ How can data analytics help manufacturers? 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How to Optimize Your Manufacturing Marketing ROI

Article | May 2, 2022

Manufacturing marketing through digital media may be the most successful method of establishing your company's online presence. However, simply setting marketing plans and hoping to gain returns is insufficient. You must strategically optimize your marketing approach to generate a return on investment (ROI) that supports the growth of your organization. But, how can you determine your ROI? How can you make it better? Read on to get all the questions answered in this article. ROI Calculation for Manufacturing Marketing Before improving your manufacturing marketing ROI, you must first determine your present marketing ROI. Here's a simple formula for calculating your manufacturing digital marketing ROI: However, if you operate a manufacturing business, you might have to use a more complex calculation to get a more realistic picture of your ROI. To be more precise, use the following formula: What does this mean in practice? Let's take a look at it in details: Number of Leads: This is the number of people who become leads for your business. A lead is anyone who subscribes to your emails, contacts your business (but does not convert), or interacts with an advertisement. Lead to Customer Rate: Your lead to customer conversion rate indicates how many individuals converted from a lead to a client for your business. For instance, if 40% of your leads convert to clients, your customer conversion rate is 40%, or 0.4. Average Sale Price: This figure is the average revenue generated by a new client – it represents the amount a client spends to hire your manufacturing company. Because projects vary in complexity, your average will provide the most accurate indicator of your ROI. Marketing Costs: These are the expenses associated with marketing your firm. It encompasses everything like the tactics you invest into the salaries of the individuals who work on your campaigns. How to Optimize Your Manufacturing Marketing ROI Identify KPIs If you want to increase the return on investment from manufacturing marketing, begin by developing key performance indicators (KPIs) or marketing ROI metrics. Organizations frequently overlook the importance of initiating marketing programs without any clear indicators of their performance. Without KPIs, it's difficult to determine whether your marketing activities are effective and generating the desired ROI for your manufacturing company. Not to mention, if you use improper KPIs, such as vanity metrics, you may believe your ads are generating a positive return on investment when in reality they are not. To assist you in increasing your manufacturing marketing ROI, start by defining the key performance indicators (KPIs) that are most important to your business. Several key performance indicators (KPIs) that you can track with your campaigns include the following: Website Time Spent Bounce Rate Revenues in Total Rate of Conversion Cost per lead Retention Rate Brand Awareness Mentions in Media These measures can help you understand your ROI, allowing you to make more informed decisions about how to increase it. Automate Marketing Another technique to boost manufacturing marketing's return on investment is through the use of marketing automation. While spending money to boost your ROI may seem counterproductive, the savings in marketing costs far outweigh the cost of marketing automation tools. This software enables you to automate time-consuming operations. Rather than wasting time and money on these duties, you can devote your efforts to other important areas of your marketing. Marketing automation platforms available on the market can assist you in managing time-consuming chores. From welcome letters to lead data collection, you can automate operations to help your business save time, which translates into money saved. The ROI of your manufacturing marketing strategy can be increased by reducing the amount of money spent on marketing chores. Track Your Campaigns' Performance To boost your manufacturing company's digital marketing ROI, you should begin measuring your campaigns. Monitoring your marketing activities tells you whether they effectively generate leads for your manufacturing business. Google Analytics is an excellent tool for tracking campaign results. Certain marketing platforms, such as Facebook, may include analytics. Additionally, your marketing automation software may assist with duties such as lead tracking to determine which campaigns are most successful. There are numerous marketing automation solutions available that assist you in tracking leads and phone calls for your organization. Additionally, you may track the return on investment (ROI) of your marketing activities using such tools. Several platforms also assist in determining which techniques are effective for your organization and which ones should be improved. It enables you to rethink and enhance ineffective techniques, allowing you to direct your marketing dollars toward more productive strategies. Increased effectiveness results in increased performance and results, which raises the manufacturing marketing ROI. Create Lucrative Buyer Personas Buyer personas enable marketers to effectively appeal to their target audience by allowing them to customize the messaging they provide. An email marketing campaign that is focused and tailored to specific consumer bases, rather than your entire customer database, is an excellent illustration of this. Buyer personas are also extremely effective at identifying a prospective customer who is at a specific stage of the buyer's journey. Successful buyer personas are developed through a combination of in-depth research and targeted surveys and interviews with a diverse group of customers, prospects, and other stakeholders who align with your target demographic. Some of the best ways to build a buyer persona are: Create forms with particular fields Lookup contacts Discuss sales leads with your team Interview clients and prospects Final Word Businesses today must focus on their digital efforts to keep up with digitization and the importance of online presence. Manufacturers are willing to invest in campaigns to make their digital presence worthwhile, but measuring the return on investment is just as critical when investing in such digital activities. The factors discussed in this article may assist you in increasing your manufacturing marketing ROI this year and achieve your business objectives. We encourage you to keep up with the latest marketing trends to maximize your manufacturing marketing ROI. FAQ What is acceptable marketing ROI? Marketing ROI is commonly measured as a 5:1 ratio, with exceptional ROI around a 10:1 ratio. Anything less than a 2:1 ratio is considered unprofitable due to production and distribution costs. Why is manufacturing marketing important? Content marketing is critical for manufacturers to establish themselves as thought leaders in their industries, situations, or technologies. How is marketing used in manufacturing? Facebook, Instagram, LinkedIn, and YouTube are excellent marketing tools for manufacturers. The idea is to contact your audience where they are, which is now on social media. B2B social media is an excellent way to connect with clients.

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PsiQuantum | January 30, 2024

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By pioneering PsiQuantum’s Qlimate solutions with industry leader Mitsubishi Chemical, MUFG is at the forefront of quantum computing for sustainability. This joint project will determine whether high-accuracy estimates of excited state properties are feasible on early-generation fault-tolerant quantum computers, specifically focusing on diarylethenes used for energy-efficient photoswitching applications. The project will allow Mitsubishi Chemical to gain early insights into how and when fault-tolerant quantum computing can be deployed in support of critical, scalable, sustainable materials. Because predicting the optical properties of materials requires complex analysis of excited states, standard algorithmic techniques for simulating these molecules (such as the Density Functional Theory, or DFT) often produce qualitatively incorrect results. The project will bring together Mitsubishi Chemical’s deep experience of computational chemistry and PsiQuantum’s leading expertise in fault-tolerant quantum computing to push the boundaries of approaching the complex physics in these systems and pave the way to developing new, more powerful energy-efficient photonic materials. Philipp Ernst, Head of Solutions at PsiQuantum, said: “PsiQuantum has dedicated teams who identify, describe and solve complex problem sets with best-in-class quantum algorithms. These are designed specifically to run on fault-tolerant quantum computers and will tackle previously-impossible computational challenges. This partnership will leverage our team’s unique know-how and Mitsubishi Chemical’s expertise in photochromic materials. 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Detroit Manufacturing Systems Strikes Partnership with InductEV to Accelerate Adoption of High-Power Wireless Charging for Commercial Vehicles

Detroit Manufacturing Systems (DMS) | January 11, 2024

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Teledyne Relays Unveils Innovative Multi-Function Timer Series

Teledyne Relays, Inc. | January 29, 2024

Teledyne Relays, a leading provider of cutting-edge relay solutions, introduces its new Multi-Function Timer product series, showcasing the company's commitment to delivering advanced, reliable, and versatile solutions for the industrial automation sector. Teledyne Relays Multi-Function Timer MFT series is a state-of-the-art solution designed for a wide variety of applications that demand precise timing control. The user-friendly design features three potentiometers for easy selection of timing functions and ranges, while the LEDs provide at-a-glance feedback of timing and relay status. The MFT series also features 7 selectable timing functions for a wide variety of applications Timing ranges from 0.1 seconds up to 100 hours Compact 17.5mm housing preserves valuable panel space Supply Voltages: 24VDC & 24-240VAC OR 12-240VAC/DC 5A SPDT output relay Engineered with the needs of electrical engineers, panel builders, and automation engineers in mind, these timers find application in various industries, including but not limited to Industrial Automation Manufacturing Process Control Systems HVAC and Refrigeration Agriculture and Irrigation Power Distribution “With the new Multi-Function Timer series, Teledyne Relays continues to lead in providing reliable and versatile solutions for industrial automation, ensuring precise timing control,” said Michael Palakian, Vice President of Global Sales and Marketing at Teledyne Relays. The Multi-Function Timer series from Teledyne Relays ensures precise timing control, offering unparalleled reliability across diverse applications and is available for ordering from Teledyne Relays or an authorized distributor. About Teledyne Relays Teledyne Relays is a world leader in high-performance coaxial switches, electromechanical, and solid-state relays, offering a wide range of solutions for various applications in the aerospace and defense, telecommunications, test and measurement, and industrial markets. With over 60 years of experience, Teledyne Relay has established a reputation for quality, reliability, and customer service excellence. About Teledyne Defense Electronics Serving Defense, Space and Commercial sectors worldwide, Teledyne Defense Electronics offers a comprehensive portfolio of highly engineered solutions that meet your most demanding requirements in the harshest environments. Manufacturing both custom and off-the-shelf product offerings, our diverse product lines meet emerging needs for key applications for avionics, energetics, electronic warfare, missiles, radar, satcom, space and test and measurement.

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Smart Factory

PsiQuantum, Mitsubishi UFJ Financial Group and Mitsubishi Chemical Announce Partnership to Design Energy-Efficient Materials on PsiQuantum’s

PsiQuantum | January 30, 2024

PsiQuantum and Mitsubishi UFJ Financial Group announced that they are beginning work with Mitsubishi Chemical Group on a joint project to simulate excited states of photochromic molecules which have widespread industrial and residential potential applications such as the development of smart windows, energy-efficient data storage, solar energy storage and solar cells, and other photoswitching use cases. Qlimate, a PsiQuantum-led initiative that includes MUFG as a partner, focuses on using fault-tolerant quantum computing to crack the most challenging computational problems and accelerate the development of scalable breakthroughs across climate technologies, including more energy-efficient materials. Mitsubishi UFJ Financial Group (MUFG) is committed to supporting the world’s transition to a sustainable future, and to encourage industry access to the most promising breakthrough technologies. By pioneering PsiQuantum’s Qlimate solutions with industry leader Mitsubishi Chemical, MUFG is at the forefront of quantum computing for sustainability. This joint project will determine whether high-accuracy estimates of excited state properties are feasible on early-generation fault-tolerant quantum computers, specifically focusing on diarylethenes used for energy-efficient photoswitching applications. The project will allow Mitsubishi Chemical to gain early insights into how and when fault-tolerant quantum computing can be deployed in support of critical, scalable, sustainable materials. Because predicting the optical properties of materials requires complex analysis of excited states, standard algorithmic techniques for simulating these molecules (such as the Density Functional Theory, or DFT) often produce qualitatively incorrect results. The project will bring together Mitsubishi Chemical’s deep experience of computational chemistry and PsiQuantum’s leading expertise in fault-tolerant quantum computing to push the boundaries of approaching the complex physics in these systems and pave the way to developing new, more powerful energy-efficient photonic materials. Philipp Ernst, Head of Solutions at PsiQuantum, said: “PsiQuantum has dedicated teams who identify, describe and solve complex problem sets with best-in-class quantum algorithms. These are designed specifically to run on fault-tolerant quantum computers and will tackle previously-impossible computational challenges. This partnership will leverage our team’s unique know-how and Mitsubishi Chemical’s expertise in photochromic materials. We are grateful for MUFG’s visionary support in our mission to deploy high-impact quantum computing solutions to fight climate change.” Suguru Azegami, Managing Director, Sustainable Business Division, MUFG said: “We are excited to partner with PsiQuantum and Mitsubishi Chemical on our journey to explore possibilities of quantum computing technologies to solve the imminent global challenge. PsiQuantum’s vision to develop the first utility scale quantum computer before the end of the decade has inspired us, which led our initiative to participate in the Qlimate partnership as the first and sole member from Japan. Mitsubishi Chemical is leading efforts to use the cutting-edge technology to develop next generation materials and we are honored to support the company as its long term financial partner.” Qi Gao, Senior Chief Scientist, Mitsubishi Chemical said: “We are pleased to be part of the partnership and are grateful for MUFG’s support. Mitsubishi Chemical’s over 40 years background in computational chemistry and PsiQuantum’s domain specific knowledge for quantum control is a great fit with the collaboration effort of improving calculation accuracy on quantum device. We hope the partnership will accelerate the innovation of revolutionizing computational studies in chemistry and materials science.” About PsiQuantum PsiQuantum is a private company, founded in 2015 and headquartered in Palo Alto, California. The company’s only mission is to build and deploy the world’s first useful, large-scale quantum computer. Many teams around the world today have demonstrated prototype quantum computing systems, but it is widely accepted that much larger systems are necessary in order to unlock transformational applications across drug discovery, climate technologies, finance, transportation, security & defense and beyond. PsiQuantum’s photonic approach enables rapid scaling via direct leverage of high-volume semiconductor manufacturing and cryogenic infrastructure. The company is partnered with the SLAC National Accelerator Laboratory at Stanford University and Sci-Tech Daresbury in the United Kingdom. About Mitsubishi UFJ Financial Group, Inc. (MUFG) Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 50 countries. The Group has about 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. About the Mitsubishi Chemical Group Corporation Mitsubishi Chemical Group Corporation (TSE: 4188) is a specialty materials group with an unwavering commitment to lead with innovative solutions to achieve KAITEKI, the well-being of people and the planet. We bring deep expertise and material science leadership in core market segments such as mobility, digital, medical and food. In this way, we enable industry transformation, technology breakthroughs, and longer, more fruitful lives for us all. Together, around 70,000 employees worldwide provide advanced chemistry-based solutions to deliver the core elements of our slogan — “Science. Value. Life.”

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Manufacturing Technology

Detroit Manufacturing Systems Strikes Partnership with InductEV to Accelerate Adoption of High-Power Wireless Charging for Commercial Vehicles

Detroit Manufacturing Systems (DMS) | January 11, 2024

Wireless commercial vehicle charging took a big step forward with an agreement between Detroit Manufacturing Systems and InductEV. In the landmark agreement, DMS, a large-scale, U.S.-based assembly provider, will bring its operations, manufacturing, quality by design, and supply chain expertise to InductEV allowing the latter to more quickly scale to meet customer demand. InductEV is reinventing how electric commercial fleet vehicles charge their batteries by charging on route, using clean renewable electricity. With its wireless induction solution now deployed worldwide and with 18 patents granted and 23 in process, the King of Prussia, PA-based company is the global leader in high-power, high-speed wireless EV charging and AI-software powered energy management. Under the terms of this agreement, DMS will Manufacture InductEV's hardware, including in-ground and under-vehicle inductive pads. Manage InductEV's supply chain and procurement. Utilize engineering expertise to facilitate high quality, design for manufacturing and assembly. Co-develop design optimizations to prepare for a 100-fold increase in production volume. "We couldn't be more pleased to have a manufacturing partner, known for its high standards and operating rigor, combine forces with our proprietary engineering," said Barry Libert, Chairman and CEO, InductEV. "Our complementary areas of expertise will enable us to meet the growing demand from commercial fleet owners and operators, as well as Intermodal facilities and Ports, for our advanced, AI-managed wireless charging solution." Among its product offerings, Detroit Manufacturing Systems currently handles manufacturing for the Ford EV F-150 Lightning signaling its expertise in advanced electric vehicle components and systems production. InductEV's patented technology is currently being used in locations throughout North America and Europe, including in Washington State, Indianapolis, Martha's Vineyard, and in Gothenburg, Sweden, Volvo's hometown. (Volvo Ventures is an InductEV investor.) The company is poised to announce the largest commitment by a U.S. port facility to its wireless charging technology. "We recognize and applaud InductEV's efforts to wirelessly electrify commercial fleets, the biggest contributor in transportation to greenhouse gas emissions worldwide," added Bruce Smith, Chairman and CEO, Detroit Manufacturing Systems. "We look forward to bringing our manufacturing, quality and supply chain expertise to this partnership and creating a successful venture that will help reduce this sector's carbon footprint at a considerable cost savings for all involved." InductEV's proprietary, on-route wireless charging solution shifts EV charging to daytime use of renewables. It reduces the need for large EV batteries, lowering vehicle costs, and eliminates the need for recycling by extending battery life by a factor of 4-8X. Wireless charging also enables the broad deployment of autonomous vehicles. About InductEV InductEV is revolutionizing how electric commercial fleet vehicles charge their batteries. With its proprietary on-route wireless solution now deployed throughout North America and Europe and with 18 U.S. patents and 23 pending, the King of Prussia, PA-based company is the global leader in high-power, high-speed wireless EV charging and AI-software powered energy management. The company just opened one of world's first R&D centers for wireless vehicle charging. About Detroit Manufacturing Systems (DMS) Detroit Manufacturing Systems (DMS) is a contract manufacturing and assembly company that is committed to and is constantly striving for manufacturing excellence and perfect quality. This is achieved through meticulous mistake proofing and a culture of continuous improvement. DMS' GIFTED & RICH fundamental beliefs, management principles, and core values guide the staff in proactively and transparently engaging with customers and suppliers. DMS is also committed to protecting the local and global environment and minimizing the environmental impacts concerning their activities, products and services.

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Additive Manufacturing

Teledyne Relays Unveils Innovative Multi-Function Timer Series

Teledyne Relays, Inc. | January 29, 2024

Teledyne Relays, a leading provider of cutting-edge relay solutions, introduces its new Multi-Function Timer product series, showcasing the company's commitment to delivering advanced, reliable, and versatile solutions for the industrial automation sector. Teledyne Relays Multi-Function Timer MFT series is a state-of-the-art solution designed for a wide variety of applications that demand precise timing control. The user-friendly design features three potentiometers for easy selection of timing functions and ranges, while the LEDs provide at-a-glance feedback of timing and relay status. The MFT series also features 7 selectable timing functions for a wide variety of applications Timing ranges from 0.1 seconds up to 100 hours Compact 17.5mm housing preserves valuable panel space Supply Voltages: 24VDC & 24-240VAC OR 12-240VAC/DC 5A SPDT output relay Engineered with the needs of electrical engineers, panel builders, and automation engineers in mind, these timers find application in various industries, including but not limited to Industrial Automation Manufacturing Process Control Systems HVAC and Refrigeration Agriculture and Irrigation Power Distribution “With the new Multi-Function Timer series, Teledyne Relays continues to lead in providing reliable and versatile solutions for industrial automation, ensuring precise timing control,” said Michael Palakian, Vice President of Global Sales and Marketing at Teledyne Relays. The Multi-Function Timer series from Teledyne Relays ensures precise timing control, offering unparalleled reliability across diverse applications and is available for ordering from Teledyne Relays or an authorized distributor. About Teledyne Relays Teledyne Relays is a world leader in high-performance coaxial switches, electromechanical, and solid-state relays, offering a wide range of solutions for various applications in the aerospace and defense, telecommunications, test and measurement, and industrial markets. With over 60 years of experience, Teledyne Relay has established a reputation for quality, reliability, and customer service excellence. About Teledyne Defense Electronics Serving Defense, Space and Commercial sectors worldwide, Teledyne Defense Electronics offers a comprehensive portfolio of highly engineered solutions that meet your most demanding requirements in the harshest environments. Manufacturing both custom and off-the-shelf product offerings, our diverse product lines meet emerging needs for key applications for avionics, energetics, electronic warfare, missiles, radar, satcom, space and test and measurement.

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Events