Acerta Analytics | November 28, 2022
Acerta Analytics, the leading provider of advanced analytics solutions that leverage machine learning and artificial intelligence (ML/AI) to turn complex product data into actionable insights, has raised an $8M ($10.4M CAD) Series B round. The funding will be used to accelerate Acerta’s mission of providing actionable insights that improve product quality and operational efficiency in precision manufacturing globally. BDC Capital’s Industrial Innovation and Thrive Venture Funds led the round, with participation from existing investors OMERS Ventures and StandUp Ventures.
Acerta helps automakers like Nissan and suppliers of complex vehicle parts such as Dana dramatically improve quality in their manufacturing processes and support early defect detection, making them more efficient, helping them reduce scrap and rework and avoid shipping defective parts that lead to costly recalls and brand damage.
Acerta’s LinePulse platform uses machine learning and artificial intelligence to help companies leverage their data for actionable insights into vehicle part production. Results suggest that using Acerta’s LinePulse platform can lead to a reduction of 30% or more in rework rates, which can result in multi-million dollar savings on a per-plant basis.
"Automotive manufacturers are facing increasing challenges as the industry moves towards electrification with more sophisticated sensors and electronics in every vehicle model. Acerta provides a platform that manufacturers can leverage to ensure they’re delivering high-quality products to market and maintaining brand reputation.By applying our advanced analytics on their complex data, automotive suppliers and OEMs can reduce scrap in their plants, thereby raising margins and increasing throughput. We help them achieve higher operational efficiency so they can make better day-to-day decisions. Manufacturing issues contribute to approximately one third of all early in-field vehicle breakdowns, but they are especially problematic for new EVs. Given the number of costly recalls and subsequent brand damage that EV makers are seeing, companies are investing in new digitalized production lines that are poised for the value that Acerta provides.This fundraise will help us add even more value to our core platform, LinePulse. We plan to expand our team to ensure we put our next-gen solution into the hands of more manufacturers."
-Greta Cutulenco, CEO and co-founder of Acerta
Acerta’s solutions drive significant improvement in manufacturing quality. We’re thrilled to support a company with such an inspiring vision for bringing AI and advanced data analytics into precision manufacturing. The time is right for this innovation, and we are very confident that this team will deliver, said Joseph Regan, Managing Partner, Industrial Innovation Venture Fund at BDC Capital.
"We are excited to support Greta and the Acerta team in their next phases of growth. The company’s suite of SaaS solutions for precision manufacturing is already transforming the automotive and transportation industries and receiving strong market validation. We know that there is a lot more to come"
-Michelle Scarborough, Managing Partner, Thrive Venture Fund at BDC Capital.
After a difficult few years in the automotive industry due to the global pandemic and supply chain issues, manufacturers are doubling down on new production lines and the sector is anticipating that demand will recover strongly, especially as a new generation of EVs comes into production. A greater focus on local production in Europe and North America is also re-shaping the industry, as increasingly manufacturers look to safeguard global supply chains.
Acerta currently operates in Canada, the United States, Europe and Japan. It will use the Series B funding to expand its customer base in North America and Europe, while strengthening ties with leading OEMs and automotive suppliers. Acerta’s customers are involved in producing complex parts for all types of vehicles.
Acerta Forged from industrial experience and driven by data science, Acerta assists precision manufacturers to take their digital transformation beyond manually crunching sensor data. Our ML/AI-powered software services enable companies to make the right decisions fast, optimize production, and improve product quality. We translate complex product data into actionable insights. Founded in 2017, Acerta Analytics Solutions Inc. is based in Kitchener, Ontario, Canada.
About BDC Capital:
BDC Capital is the investment arm of BDC, Canada’s Business Development Bank. With over $6 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage.
Contemporary Amperex Technology Co. Limited | November 23, 2022
Phoenix Motor Inc. (Nasdaq: PEV) (“Company” or “Phoenix”), a leader in manufacturing of all-electric, medium-duty vehicles, today announced the signing of a non-binding Memorandum of Understanding (“MOU”) with Contemporary Amperex Technology Co., Limited (SHE: 300750) (“CATL”), a global leader of new energy innovative technologies, for the co-development of batteries for Phoenix Motorcars’ product lines.
The MOU will support the long-term supply of battery solutions and related products for Phoenix’s commercial electric vehicles including Gen 4 vehicles, as well as the potential cooperation on Gen 5 and EdisonFuture (Gen 6) models in the future. The two companies also agreed to explore the opportunity to deploy E-rolling chassis technology in Phoenix vehicle models.
Developed for commercial vehicles by its subsidiary Suzhou Synland Technology Co., Limited, CATL’s E-rolling technology is a separate frame construction chassis solution that integrates coaxial e-beam, frame, electronic devices and the battery pack which in turn is integrated with the power domain controller. The innovative technology supports various vehicle types including pickups, light trucks, vans and RVs.
Phoenix Motorcars CEO Dr. Lance Zhou commented, “We are thrilled to be working with CATL, one of the world’s leading battery manufacturers and solution providers, as we develop and produce our Gen 4 medium-duty vehicles and explore further cooperation including Gen 5 ground-up chassis vehicles and EdisonFuture (Gen 6) line of light-duty vehicles over the next few years. This MOU will ensure stability and security of essential battery supply. We are also very keen on the E-rolling chassis technology from CATL which would enable simplified, highly integrated and light weighted design of e-chassis to achieve higher energy efficiency in commercial vehicles. Collaboration with partners such as CATL is central to our ‘asset light’ strategy and adds to our confidence that we will deliver our enhanced product lineup on time, within budget and with maximum quality.
“We are glad to cooperate with industry pioneers like Phoenix Motorcars, and we believe the successful cooperation with Phoenix will further promote the application of advanced technologies in commercial vehicles, This cooperation not only expands our global network of commercial application business, but also reflects our determination to promote comprehensive electrification with innovative battery solutions, thus contributing to the global efforts towards carbon neutrality.”
-Li Xiaoning, Executive President of Overseas Commercial Application, CATL.
About Phoenix Motor Inc:
Phoenix Motor Inc., a pioneer in the electric vehicle (“EV”) industry, designs, builds, and integrates electric drive systems and light and medium duty EVs and sells electric forklifts and electric vehicle chargers for the commercial and residential markets. Phoenix operates two primary brands, “Phoenix Motorcars,” which is focused on commercial products including medium duty EVs (shuttle buses, school buses, municipal transit vehicles and delivery trucks, among others), electric vehicle chargers and electric forklifts, and “EdisonFuture,” which intends to offer light-duty EVs. Phoenix endeavors to be a leading designer, developer and manufacturer of electric vehicles and electric vehicle technologies.
About Contemporary Amperex Technology Co. Limited:
Contemporary Amperex Technology Co., Limited (CATL) is a global leader of new energy innovative technologies, committed to providing premier solutions and services for new energy applications worldwide. In the year 2021, CATL’s EV battery consumption volume ranks No. 1 in the world for five consecutive years, and it ranks first in the market share of global energy storage battery production. CATL also enjoys wide recognition by global EV and energy storage partners. To achieve the goal of realizing fossil fuel replacement in stationary and mobile energy systems with highly efficient electrical power systems that are generated through advanced batteries and renewable energy and promote the integrated innovation of market applications with electrification and intelligentization, CATL maintains continuous innovation in four dimensions including material and electrochemistry system, structure system, green extreme manufacturing and business models.
Reell Precision Manufacturing | November 25, 2022
Reell Precision Manufacturing, a world leader in innovative small package motion control, is pleased to introduce the latest addition to its popular SJ Series of multi-axis friction hinges, the SJ500.
The SJ500 is Reell's largest spherical joint hinge. It is available with torques from 4.0 - 8.0 N-m, making it ideal for positioning today's larger monitors and display devices, as well as industrial applications and many other components requiring precise multi-dimension position control in the industrial, medical, office, and consumer electronics marketplace.
All Reell SJ Series hinges have the capability to swivel from side to side with a 60º range of motion, tilt back and forth with a 60º range of motion, and rotate with a full 360º range of motion. They utilize Reell's patented SphericalTorq™ clip technology to perform consistently for a life of 50,000 adjustments. All SJ models have a durable glass-filled molded nylon housing and black finish, presenting an attractive and stylish appearance, while the all-metal shaft, ball, and torque elements are manufactured from nitrided and hardened steel for durable performance.
Global Product Line Manager Jim Brown is excited about the introduction of the SJ500. "The SJ500 expands the capability of our popular SJ platform with increased torque options for larger applications. We can now provide our easy adjustment, smooth feel, and secure holding power to a wider range of customer applications in lighting, monitor mounts and industrial equipment."
AboutReell Precision Manufacturing:
Reell Precision Manufacturing provides high-quality innovative solutions to transmit torque, control angular position and protect delicate components from excessive force. Combining the world's most precisely controlled torque technology with the industry's most experienced engineering team, Reell provides a perfect product fit for customer application. With facilities on three continents, Reell's responsive global customer service and world class manufacturing ensures exceptionally easy ordering and on-time delivery.