Reflect Orbital, a new startup, plans to monetize solar energy by providing sunlight to solar farms 24 hours a day.
Reflect Orbital is planning to develop a constellation of satellites that will reflect sunlight to solar farms during nighttime hours, transforming the efficiency and reach of solar energy generation.
This approach addresses the key limitations of solar power: its dependence on daylight. By extending the availability of sunlight to solar farms, enabled by advancements in space technology, Reflect Orbital's technology can significantly increase the contribution of solar energy to the global energy mix.
Reflect Orbital is currently designing its first satellite, marking the next phase in its mission to harness space-based solar power.
This technology not only has the potential to transform the renewable energy sector but also raises questions about the future of energy infrastructure and the role of space in supporting sustainable development.
Efficient transmission of energy over long distances from space or high altitudes remains a challenge. Additionally, the environmental impact of beaming concentrated solar energy through the atmosphere needs careful consideration.
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AssemblyAI, a speech AI startup, received $50M in a Series C funding round, bringing its total outside funding to $115M for the enhancement of its cloud-based speech AI models. The funding is for corporate growth amidst their expanding customer base.
AssemblyAI intends to acquire additional AI computing infrastructure to broaden the company's array of neural networks. They are also developing a new AI model, named Universal, anticipated to surpass the capabilities of its recent Conformer-2 system across various aspects. Universal is undergoing training on a dataset approximately 10 times larger than the one employed for Conformer-2. The training operations are conducted on Google Cloud instances utilizing internally-developed TPU chips, specifically designed to optimize performance for AI workloads.
“We’re now regularly serving over 25 million inference calls, and processing over 10 terabytes of voice data, every day through our API for our customers,” said AssemblyAI founder and CEO Dylan Fox.
The company aims to make the Universal model available to customers in the very near future.
Story
Sanofi has entered into a partnership with Aqemia, a Paris-based startup specializing in quantum physics algorithms and generative AI for drug discovery. Sanofi plans to use Aqemia’s, spun out of École normale supérieure in 2019, tech to discover small molecules in various therapeutic areas.
The $140 million collaboration taps into the booming AI drug discovery market expected to reach $15.44 billion by 2032, ushering a new era of faster, more effective drug development.
“This whole new step is about scaling our respective expertise to multiple projects and supporting Sanofi in discovering novel chemical matter at scale with our unique technology – including on difficult projects with limited chemical data upfront and hard issues like selectivity,” said Maximilien Levesque, Aqemia CEO and Co-founder.
Sanofi continues to push the boundaries of drug discovery with more AI acquisitions.
Story
The Tokyo Stock Exchange (TSE) has introduced a market maker mechanism trial to invigorate their carbon credit trading market. The mechanism is designed to ensure liquidity by making companies quote a certain volume of buy and sell orders within a price range.
As the world's fifth-largest carbon emitter, Japan is using the carbon credit market strategy to combat climate change. In April, Japan initiated a gradual implementation of a carbon pricing scheme aimed at motivating companies and cities to reduce their emissions in hopes for the country to become carbon neutral by 2050.
Leading global bank, Mizuho Financial Group, has invested in Climate Impact X (CIX), a Singapore-based carbon credit marketplace, to expand the carbon credit market in Asia. The partnership focuses on expanding carbon credit accessibility and reliability, leveraging CIX's advanced technology like satellite monitoring, machine learning, and blockchain to ensure transparency and integrity in carbon trading.
The trial will be a litmus test for the market's viability and could set a precedent for similar initiatives globally.
Japan's cautious approach, contrasting with aggressive carbon pricing in other Asian markets, reflects its unique economic and environmental challenges.
Critics argue that without a compliance market, Japan's carbon credit market may struggle to gain significant traction.
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