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Big Idea:

Circle, the issuer of the second largest dollar-based stablecoin, USDC, has announced they will pursue an IPO.

Why It Matters:

Circle had previously attempted to go public through a SPAC transaction valued at $4.5 billion but it fell through at the end of 2022. The current move towards an IPO signals a positive shift in the market and public sentiment.

Key Details:

• The company has filed a confidential draft registration statement (S-1) with the SEC to go public.
• The original SPAC with Concord Acquisition Corp halted due to the SEC’s reluctance to approve the registration statement.
• The IPO is anticipated to occur after the SEC completes its review, contingent on market conditions. The timeline for completion is expected later in the year.

What's Next:

Circle maintains its pursuit of becoming a public company, aligning with its core strategy to enhance trust and transparency, despite the SPAC deal's setback. The company's focus on compliance and its quest for a banking license underscore its commitment to regulatory standards.

Between the Lines:

The SEC's cautious approach to blockchain firms, exemplified by the collapse of FTX, Three Arrows, Celsius and more, as well as the undergoing Binance investigation, underscores a challenging regulatory environment, with Circle navigating these complexities.

Breaking the Narrative:

The SEC's reluctance challenges the dominant investor narrative, emphasizing the evolving and sometimes uncertain nature of blockchain-related regulations. The success of the IPO could greatly advance the crypto industry and change the way we handle financial transactions.

Big Idea:

DeFi Technologies Inc., a platform that allows investors to invest in digital assets, has signed a letter of intent to acquire Reflexivity Research LLC, a leading crypto native research firm. This move signals DeFi’s foray into the research domain, amplifying its commitment to fostering knowledge and understanding in the fast-paced crypto sector.

Why It Matters:

As traditional finance and decentralization are increasingly crossing paths, i.e. the recent approval of Bitcoin ETF, DeFi is setting themselves up as a bridge between the two financial worlds but also positioning the company to provide valuable insights to its clientele, enriching its comprehensive suite of services in the financial ecosystem.

Key Details:

• 5 million common shares of DeFi Technologies will be exchanged for all issued and outstanding securities of Reflexivity Research.
• Reflexivity Research, co-founded by Anthony Pompliano and Will Clemente, is renowned for its high-quality, crypto-native research tailored for traditional finance investors.
• Reflexivity’s existing clients include eToro, Solana, Avalanche, NEAR, Fantom, Sei Network, and others.
• Reflexivity has established extensive distribution channels for its research, utilizing platforms such as TradingView and eToro. Its reports are disseminated through its homepage, a premium membership portal, and an email list of over 55,000 investors.

"As traditional finance continues to allocate to this new asset class and structured products become more important in 2024, we are excited to partner with DeFi and the pioneers of the ETP market at Valour. This collaboration will enhance our research and bring insightful, actionable intelligence to our clients, bridging the gap between traditional finance and the burgeoning potential of cryptocurrency markets." - Anthony Pompliano, Co-founder, Reflexivity Research

The Intrigue:

This acquisition not only marks DeFi Technologies' expansion but also raises questions about the evolving landscape of cryptocurrency research. How will this collaboration influence the intersection of traditional finance and decentralized markets, and what ripple effects might it have on existing industry players?

The Bottom Line:

The partnership will create enhanced research capabilities and valuable insights for clients in the crypto market.

Big Idea:

Cboe Digital, in collaboration with industry heavyweights like Blockfills, DV Trading LLC, and Jump Trading Group, has capitalized on the Crypto ETF wave by launching margined Bitcoin and Ether futures trading. This addition gives investors a comprehensive platform for spot and leveraged derivatives in crypto.

Why It Matters:

Cboe Digital is set to facilitate spot and leverage derivatives trading, addressing the escalating demand for crypto derivatives. As investors increasingly seek exposure to the crypto asset class, the platform provides a tool for managing risk, enhancing operational efficiency, and navigating the dynamic crypto landscape.

Key Details:

• Cboe Digital's collaboration with major players like Blockfills, DV Trading LLC, and Jump Trading Group underscores industry recognition.
• Launching margined Bitcoin and Ether futures demonstrates the platform's commitment to evolving with the crypto market.
• The move complements existing spot market offerings, showcasing a diverse range of cryptocurrencies.

"The future of crypto is at an exciting juncture, and as more investors look to participate in this asset class, we expect to see greater demand for derivatives to help manage their crypto exposures, hedge risk, and enhance capital and operational efficiencies." - John Palmer, President of Cboe Digital.

What's Next:

Cboe Digital, having successfully launched margined contracts, sets its sights on expanding the product suite. Pending regulatory approval, the platform plans to introduce physically delivered products, further solidifying its position as a comprehensive crypto trading platform.

Big Idea:

Finnish startup, Cactos, specializes in repurposing decommissioned Tesla batteries into smart electricity storage units, attracting €26 million in equity funding. Upcycling not only gives old batteries a second life but provides a sustainable solution for aging power units.

Why It Matters:

Cactos' business aligns with the EU’s transition to green energy evidenced by additional funding for battery manufacturing and EU regulations for battery passports. Investors recognize its significance in supporting the green transition and the need for clean electricity production infrastructure.

How It Works:

Cactos disassembles Tesla batteries, tests and extracts viable modules, integrating them into battery energy storage systems (BESS) that optimize electricity consumption, offering a new lease of life for the aging batteries. 

They use a proprietary cloud-based control software, Cactos Spine, to manage and optimize the energy storage units. The system ensures consistent energy supply during usage peaks or blackouts and maximizes benefits by adapting to lower electricity prices, addressing concerns about electricity supply and market volatility for businesses.

Key Details:

• Funding led by OP Finland Infrastructure LP and the Finnish Climate Fund.
• Cactos promises clients benefits such as price stability, reduced consumption during demand peaks, backup power, and efficient use of property-generated electricity.

"Tesla batteries are of very good quality and include features that make them suitable for BESS applications," says Oskari Jaakkola, CEO, and founder of Cactos.

What's Next:

With the fresh funding, Cactos aims to build a portfolio of over 1,000 storage systems. 

Yes, But: 

The certainty of using old Tesla batteries as a long-term solution is challenged by the decreasing cost of new lithium iron phosphate cells. However, these aging batteries still find relevance, especially among ESG-focused clients.

Flashback:

In November 2022, Cactos raised €2.5 million in a funding round led by Superhero Capital, with additional investment from the founders. The funding was used to build new energy storage facilities and expand the existing Muhos plant.

Big Idea:

Paris-based food tech innovator, Standing Ovation, has received €3 million to scale production of their non-animal caseins using their patented precision fermentation process. 

Why It Matters:

The project is receiving €2 million in funding over a 20-month period from the French government via France 2030, with 60% of the funding being in the form of a grant. The backing from Bpifrance, which includes a €1 million Green Invest EU Investment Loan, emphasizes the dedication of public authorities to propel the progress of sustainable and innovative food solutions.

Key Details:

• The BBC Climate Change Food Calculator shows the environmental cost of traditional dairy, with 30 grams of cheese consumed daily equating to nearly 900 miles of petrol car emissions annually.
• The production of vegan casein through precision fermentation can result in up to 98% less water and 65% less energy usage compared to conventional dairy production.
• Standing Ovation's approach to produce non-animal caseins via precision fermentation provides a sustainable alternative to traditional dairy without compromising nutrition or taste.

"Standing Ovation's innovative approach enables us to contribute to the food transition while significantly reducing the environmental impact of the dairy ingredients industry," commented Romain Chayot, CEO & Co-founder of Standing Ovation.

What’s Next:

Standing Ovation's project enters its industrialization phase, testing the scalability and commercial viability of its technology. Success could lead to broad adoption of non-animal caseins and other similar products.

Big Idea:

In China, a growing gray market of traders and small recycling workshops has emerged alongside the giant battery recycling plants. These players are capitalizing on the increasing number of retired EV batteries containing valuable metals such as lithium, cobalt, and nickel.

Why It Matters:

China, the world's largest EV market, regards batteries as a key resource for green transition. The effective recycling of EV batteries is crucial as global competition for critical minerals intensifies. China aims to establish an efficient, safe, and environmentally friendly battery recycling system for Chinese automakers to produce electric cars with recycled batteries at scale.

Yes, But: 

Chinese battery recycling regulations are still in their early stages. The presence of unregulated operators, constituting around a fifth of the market, poses safety and environmental risks. The lack of strict enforcement allows these operators to offer higher prices to battery owners, diverting valuable cells away from official recycling channels.

Key Details:

• The Chinese EV battery recycling industry grew from 2.9 GWh in 2017 to 21.2 GWh in 2020, and the global market is expected to reach $10.45 billion by 2030.
• Technological advancements in direct recycling, hydrometallurgical, and cryogenic processes are enhancing efficiency and environmental sustainability.
• Freelance traders use social media to source used batteries, revealing the grassroots level of this industry. These practices, currently unregulated, highlight the market's potential.
• The shift to recycled EV batteries could reduce manufacturing costs, lower the carbon footprint of battery production and alleviate pressure on finite metal resources.

What’s Next:

The Chinese market is likely to see further technological advancements, stricter regulatory enforcement, and market consolidation.

The Intrigue:

As China seeks to regulate and enhance its battery recycling market, there are opportunities for growth, cost reduction, and improved environmental credentials. The effective recycling of EV batteries would not only benefit the domestic market but also position Chinese automakers favorably in the global competition, especially in regions like Europe where recycled content requirements are mandated.

By the Numbers:

• China's EV battery recycling market is projected to exceed 40 billion yuan by 2025.
• In 2020, China decommissioned 200,000 tons of power batteries, with projections of 780,000 tons by 2025.

Big Idea:

Saudi Arabia has signed MOUs for mining partnerships with Egypt, Russia, Morocco, and the Democratic Republic of Congo at the Future Minerals Forum in Riyadh, Saudi Arabia. 

Why It Matters:

The partnerships focus on 'green metals' like copper, lithium, and aluminum, essential for renewable energy technologies. Saudi Arabia's $182 million exploration incentive program and the introduction of mining science and AI technologies represent an aggressive push towards sustainable resource utilization in the mining sector.

Key Details:

• The incentive program has been announced to de-risk investments in exploration, secure new commodities, and offer access to 33 exploration sites through licensing programs.
• Adoption of advanced technologies such as RTLS for asset tracking, AI in geological studies, and drones for site mapping enhances productivity, safety, and environmental sustainability.

Dive Deeper:

The use of AI in mining, demonstrated by Freeport-McMoRan's 10% production boost at its Arizona copper-ore mill following AI implementation, showcases the potential for transformative efficiency gains.

The Intrigue:

Advanced mining technologies and geopolitical alliances are reshaping the global mining industry, highlighting the strategic role of green metals in the energy transition and political dynamics among nations, notably in the Middle East.

Flashback:

The Minister of Investment, Khalid Al-Falih, emphasized the importance of cooperation between countries in the Middle East to meet the growing demand for critical minerals essential for the transition to net-zero. He highlighted that existing production facilities may face challenges due to resource depletion or sustainability concerns.

Big Idea:

Muon Space, a Silicon Valley startup, will use its advanced EO/IR satellite technology to capture cloud characterization data from space for the U.S. Air Force.

Why It Matters:

The aging Defense Meteorological Satellite Program (DMSP) satellites have become limited in capabilities. Cloud characterization is crucial for the military, as accurate data on cloud cover is essential for launching munitions and planning satellite imagery collections. Muon Space’s technology will address the gaps and and improve the Air Force's defense capabilities.

Key Details:

• Muon Space has raised $35 million in funding and successfully launched its first satellite, MuSat-1, in June 2023, with plans for subsequent launches in 2024.
• Muon Space has landed key contracts, including a $400,000 Space Force deal for space weather data and a $2.8 million agreement with the Air Force Life Cycle Management Center Weather Systems Branch.
• The company’s satellites, equipped with advanced EO/IR instruments, are designed for high-fidelity monitoring.
• Muon Space’s technology promises to provide more accurate and frequent cloud cover data, enhancing military operations and intelligence planning while offering detailed insights into climate change impacts.

“Muon Space is developing an EO/IR constellation solution that offers a commercial path to fill these gaps,” said Greg Smirin, president of Muon Space.

What's Next:

With the planned launch of software-defined microwave sensors in February 2024, Muon Space is set to expand its technological footprint in the industry.

By the Numbers:

• 3 satellites planned by Muon Space: MuSat-1, MuSat-2, MuSat-3
• 2024 target launch for Muon Space's microwave sensor
• Muon Space’s first satellite, MuSat-1 weighs 70 kg

Big Idea:

Finnish biotech startup Enifer has secured a €12 million grant from the European Union’s NextGenerationEU programme to pioneer the world's first commercial-scale PEKILO® mycoprotein technology, converting industrial by-products into a high-quality, sustainable protein source.

Why It Matters:

The alternative protein market is expected to reach $423 billion by 2033, driven by global environmental and health awareness. Enifer's technology taps into this burgeoning market, offering alternative protein with at least 20 times lower carbon emissions compared to traditional protein sources.

Key Details:

• PEKILO® is a neutral-tasting, colorless 70% protein and fiber-rich powder suitable for various food applications, similar to plant proteins.
• Enifer's factory aims to produce 3 million kilograms of sustainable protein annually, equivalent to the protein from 30,000 cows but with lower environmental costs.
• The PEKILO® process, a reinvention of a 1970s technology, uses fungal fermentation of industrial by-products to produce a high-protein, fiber-rich ingredient.
• Enifer’s project is supported by Business Finland and the EU’s NextGenerationEU program, with strategic partnerships including Skretting, Purina, and Valio.

“This plant will be a critical stepping stone to scaling the production of PEKILO® as a truly universal protein source – which we aim to commercialize globally across different applications,” shares Simo Ellilä, CEO and co-founder of Enifer.

What’s Next:

Enifer's immediate focus includes completing the factory by the end of 2025, scaling up production in 2026, and anticipating regulatory approval for food-grade mycoprotein by 2024, setting the stage for a wider market launch.

Big Idea:

Italian space logistics startup D-Orbit has raised $110 million for their satellite deployment and space operations business. The investment is led by Marubeni Corporation from Japan's industrial sector, with participation from various other investors.

What They Do:

D-Orbit provides last-mile satellite delivery, mission control services, and space waste management. The company's model involves a combination of software and hardware development and caters to both government and commercial space projects.

Why It Matters:

As a logistics provider for companies in the space industry, the company claims that its operational model saves 40% on costs and 85% on time by grouping multiple customers together and bulk-procuring around launches.

Key Details:

• D-Orbit's Series C funding of €100 million marks one of Europe's largest in the space tech sector.
• The ION Satellite Carrier created by D-Orbit has the capability to release hosted satellites individually, allowing for adjustments in orbital parameters between each deployment.

What's Next:

D-Orbit's founders, trained as engineers with expertise in space propulsion, flight dynamics, and aerodynamics, envision expanding their services to connect Mars, the asteroid belt, the moon, and Earth through a logistics network. The company also aims to contribute to the circular economy in space technology by addressing the growing issue of space debris through methods like decommissioning satellites and repurposing satellite parts in orbit.

By the Numbers:

• 100 satellites: Number of satellites deployed by D-Orbit across 13 missions
• $500 Million: D-Orbit's post-funding valuation

Big Idea:

The U.S. Department of Veterans Affairs (VA) has committed to financing research into MDMA and psilocybin therapies for veteran mental health care.

Why It Matters: 

This is a major change in how PTSD and depression are treated in veterans, leveraging the therapeutic potential of psychedelics for mental health conditions.

Key Details:

• Studies indicate up to 88% reduction in PTSD symptoms and 87% in depression symptoms following psychedelic therapy.
• The research combines MDMA and psilocybin with psychotherapy, diverging from traditional mental health treatments.
• Fiscal 2024 National Defense Authorization Act empowers active-duty service members' participation in clinical trials, broadening research scope.
• Clinical trials to involve 30 U.S. Special Operations veterans, providing a focused study group.

"Our nation's veterans deserve the very best care, and VA is constantly supporting innovations to deliver that," said VA Secretary Denis McDonough.

Flashback:

MDMA-based treatment for mental health and PTSD is becoming more mainstream. Lykos Therapeutics, formerly MAPS, recently raised $100 million to advance psychedelic research and applied for FDA approval in December.

Big Idea:

Moonwalk Biosciences, co-founded by CRISPR pioneer Feng Zhang and former Illumina CTO Alex Aravanis, has secured $57 million in funding to advance gene therapy with its epigenetic editing technology.

Why It Matters:

The gene therapy market, set to surge from $7.18 billion in 2024 to $24.67 billion by 2029, continues to innovate with Moonwalk's non-invasive epigenetic editing. This method, targeting epigenetic modifications over DNA alteration, provides safer, more effective treatments for chronic and aging-related diseases.

Key Details:

• Moonwalk's technology leverages methylation and demethylation processes, enabling gene activity alteration without DNA structure changes.
• Moonwalk claims to be the first to combine an epigenetic discovery platform with precise engineering, using advanced AI to predict epigenetic targets and a comprehensive set of epigenetic engineering tools.
• Moonwalk is backed by prominent venture firms like Alpha Wave Ventures and ARCH Venture Partners.

“Epigenetics is the software of the genome. While changes to the genome are irreversible, edits to the epigenome can be reprogrammed in different ways. Epigenetic changes determine whether genes are turned on or off, and can potentially reverse disease, broadening the therapeutic landscape to find potential cures previously thought impossible,” said Alex Aravanis, M.D., Ph.D., CEO and Co-Founder, Moonwalk Biosciences.

What's Next:

The next steps include clinical trials to validate the safety and efficacy of its epigenetic editing technique. As this technology advances, it could challenge the industry's belief that traditional gene editing, such as CRISPR-Cas9, is the only path forward for gene therapy.

Dive Deeper: 

Moonwalk's approach, utilizing AI for predicting epigenetic targets, leverages the body's natural regulation system, offering a nuanced approach to gene control. This resonates with the trend in biotechnology towards precision and personalization, moving away from one-size-fits-all solutions.

Big Idea:

Chinese researchers have innovated a new electrode material for electrochemical extraction designed to attract uranium ions from seawater more efficiently than current methods.

Why It Matters:

It is estimated that there are 4.5 billion tons of uranium in the ocean as dissolved uranyl ions, over 1,000 times more than on land. The new electrode extraction technology enables harvesting of low-concentration uranium from seawater, about 3 parts per billion, promising a stable and cost-effective uranium supply.

Key Details:

• The electrode material, developed by Rui Zhao and Guangshan Zhu, outperforms existing technologies, extracting 12.6 mg of uranium per gram from seawater, using a flexible carbon fiber cloth with specialized coatings and running a cyclic current between the electrodes.
• In tests using seawater from the Bohai Sea, the material's capacity surpassed that of most other tested uranium-extracting materials, and the electrochemical method was about three times faster than natural accumulation. 
• The researchers believe this method could effectively capture uranium from seawater, potentially opening up oceans as new suppliers of nuclear fuel while simultaneously reducing reliance on traditional mining and the need for carbon.

What's Next:

The next steps involve scaling up this technology for industrial use and reducing costs to compete with traditional mining.  The method, while promising, still faces challenges in terms of efficiency and environmental impact mitigation.

The Intrigue:

The global reliance on a limited number of uranium mines, often in politically sensitive areas, has long been a concern. This breakthrough could redistribute the geopolitical power dynamics in energy resources.

Big Idea:

Nanomedicine enables targeted drug delivery at the molecular and cellular levels. This precision allows for the delivery of therapeutic agents directly to the affected cells or tissues and can minimize side effects. Taiwan Liposome Company (TLC) is a clinical-stage biotech firm dedicated to developing and commercializing nanomedicines. Their focus is a proprietary lipid-assembled drug delivery platform using approved active pharmaceutical ingredients (APIs).

Why It Matters:

The nanomedicine industry is on a growth trajectory, projected to reach $358 billion by 2032. 

State Of Play:

TLC leverages the streamlined 505(b)(2) regulatory pathway in the United States due to its use of already approved APIs. This simplifies the approval process for their product candidates. TLC's collaborations with Endo and 3SBio for commercialization and regulatory approvals in new markets will expand its global footprint.

Key Details:

• The company employs two key technology platforms – BioSeizer® and NanoX®. 
• BioSeizer® focuses on lipid formulation, enabling both sustained release and fast onset of APIs at the disease site, enhancing pharmacokinetic control. 
• NanoX® is an active drug loading technology that improves toxicity profiles, potentially reducing dosing frequency and enhancing API distribution.

What's Next:

Expect TLC to leverage its proprietary technologies and partnerships to launch innovative products in key markets. The focus will be on expanding its customer base and navigating regulatory landscapes to deliver advanced therapies to more patients worldwide.

Big Idea:

Norway breaks ground as the first country to greenlight commercial deep-sea mining, unlocking Arctic riches for economic diversification. 

Why It Matters:

The Arctic Ocean, abundant in rare earth elements and other minerals, is crucial for technologies central to the green revolution, like electric vehicles and renewable energy systems. Accessing these resources could diminish reliance on land-based mining, which is increasingly costly and environmentally damaging.

Key Details:

• The targeted area spans 281,200 square kilometers, and is rich in rare earth elements and other minerals. 
• Advancements in deep-sea mining technology, such as ROVs (remotely operated vehicles), seabed crawlers, and AI-powered systems, have improved exploration and extraction methods, promising more efficient and potentially less invasive operations.
• This initiative could shift global reliance on mineral resources, offering an alternative to land-based mining, but it also raises questions about irreversible ecological damage and long-term sustainability.

What’s Next:

The future of deep-sea mining in the Arctic Ocean hinges on technological advancements and regulatory frameworks. As trials and projects progress, the industry's ability to minimize environmental impacts while maximizing resource extraction will be under scrutiny.

Dive Deeper:

• The Arctic seabed mining expanse surpasses the United Kingdom in size, showcasing the immense scope of this venture.
• Deep-sea ores boast a superior quality, offering 99% usability against a mere 20% from terrestrial sources, underscoring the critical value of these underwater resources.

Big Idea:

Playbux, a Web3 entertainment platform that offers shop-to-earn experiences, plans to raise $150,000 through a fair community offering (FCO) instead of the usual initial coin offering (ICO). The FCO, facilitated by crypto investing platform Raiser, involves ranking users based on on-chain activity, referrals, educational quizzes, and profile following. Users with higher rankings get the opportunity to invest in the project's token before it is listed on centralized exchanges.

Why It Matters:

FCO is introduced as an alternative to ICOs, which were common but became associated with fraud during the crypto boom of 2017-2018. ICOs lacked reporting requirements and accounting standards, leading to fraudulent activities. The decline of ICOs has paved the way for new fundraising mechanisms, such as airdrops. FCO aims to address the shortcomings of ICOs by aligning with more rigorous listing requirements while providing pre-listing token access to the community.

Key Details:

• Playbux aims to raise $150,000 through its FCO, leveraging Raiser's platform and targeting a late January 2024 launch.
• The FCO introduces a merit-based system, ranking users based on engagement and contribution, promoting a healthier investment environment.
• This shift could lead to safer investment practices in crypto, mitigating risks associated with ICOs.

“Our goal is to effectively support both the community and centralized exchanges, who show belief in the potential success of new projects through initial listings. Our unique platform rewards active community members and so assists exchanges in their strategic decisions,” said Raiser’s Co-founder and CEO Kori Leon.

What's Next:

Playbux will conduct its public FCO for the PBUX token in late January. The platform was part of Binance Labs' incubation program and was added to Visa's Asia Pacific 2023 accelerator program. Its success could prompt similar offerings by other Web3 firms, shifting crypto investments to more community-centered, equitable approaches.

By the Numbers:

• 16 Million: Playbux's user base on the BNB Chain.
• $150,000: Amount being raised by Playbux through its FCO.
• 26,000: Global merchants connected to Playbux's shop-to-earn mechanism.
• 1.3 Million: Monthly active users on Playbux.

Big Idea:

Lykos Therapeutics, formerly known as MAPS Public Benefit Corp., has raised over $100 million to advance a MDMA-based treatment for PTSD.

Why It Matters:

Treating mental health conditions, especially PTSD, persists as a challenge due to inadequate existing treatments. High dropout and low response rates, along with many patients retaining PTSD diagnosis after treatment, highlight the need for new, out-of-the-box therapies.

Key Details:

• The psychedelic drugs market is projected to reach USD $10.75 Billion by 2027, growing from USD 4.75 Billion in 2020.
• Lykos Therapeutics has developed an MDMA-based therapy for PTSD, showing promising results in two late-stage clinical trials.
• This therapy could address the high nonresponse and dropout rates in current PTSD treatments, benefiting an estimated 13 million Americans suffering from the condition.

"Our North star is to fundamentally change how the healthcare system holistically treats people with mental health conditions. We are working to articulate what it means to be a leading public benefit organization in the pharmaceutical space," Lykos Therapeutics, CEO Amy Emerson wrote.

What’s Next:

The future includes FDA approval processes, with a decision expected by mid-February on Lykos' application review. If approved, Lykos must integrate MDMA for therapeutic use, potentially by late 2024.

Dive Deeper: 

The FDA's draft guidance in 2023 on psychedelic drugs and the successful fundraising of companies like COMPASS Pathways demonstrate an increasing openness to these unconventional treatments. The success of Johnson & Johnson’s Spravato, a ketamine-based treatment for depression, is another example and projects $725 million in annual sales.

Big Idea:

Nexus Development Capital has invested $5 million in Standard Biocarbon, a pioneer in biochar production utilizing 100% sustainably sourced wood chips, to advance scalable carbon capture technology and soil improvement, transforming waste and biomass into climate-beneficial material.

Why It Matters:

Biochar's potential in carbon sequestration is on the rise, with the global market value reaching $702 million in 2023. Its effectiveness in trapping carbon dioxide and enhancing soil quality makes it effective in climate solutions. The International Biochar Institute estimates biochar could capture up to 3 billion metric tons of CO2 annually, reducing global emissions by as much as 6%.

Key Details:

• Biochar is a charcoal-like material made from plant residues, such as agricultural waste, transformed at high temperatures into an energy-producing, renewable resource.
• Standard Biocarbon's advanced biochar production facility utilizes biomass, such as wood or crop waste, to create a stable carbon sequestration solution.
• Standard Biocarbon's facility in Maine, backed by Nexus Development's investment, is set to produce 16,000 cubic yards of biochar annually, capturing 3,000 tons of carbon.
• The project enhances carbon capture technology and offers a range of environmental benefits, including soil improvement and hazardous waste remediation.

Joshua Kaufman, CEO of Nexus Development Capital said: “Biochar is one of the most cost-effective and commercially ready approaches for removing CO2 from the atmosphere. Scaling these types of carbon removal facilities is now one of our biggest opportunities. We see Standard Biocarbon as one of the first to bring these in-demand carbon sequestration solutions online to meet the huge appetite across multiple sectors.”

What’s Next:

The facility, starting operations in 2024, aims to boost biochar technology. As biochar production scales, monitoring competing technologies like direct air capture or synthetic methods is vital to adapt to shifts in carbon capture solutions.

Big Idea: 

The two-dimensional supercrystal technology developed at Ludwig Maximilian University is capable of generating hydrogen from formic acid using sunlight. Using plasmonic nanostructures to concentrate solar energy efficiently, these structures, made from a plasmonic metal (gold in this case), interact strongly with visible light, enhancing energy absorption.

Why It Matters:

The nanomaterial offers a new method to harness sunlight and photocatalysts, allowing light energy to be directly utilized for chemical reactions without the need to generate electricity. This contributes to sustainable hydrogen production without the need for fossil fuels and has broader applications in reactions such as converting CO2 into usable substances.

Key Details:

• Supercrystals use plasmonic and catalytic metals, such as gold and platinum, to concentrate solar energy, creating hotspots that drive efficient chemical reactions for hydrogen production.
• The supercrystal technology achieved a world record for green hydrogen production from formic acid using sunlight, demonstrating a rate of 139 millimoles per hour per gram of catalyst.

"Where the high-energy particles of sunlight meet atomic structures is where our research begins," says Emiliano Cortés, lead researcher. "We are working on material solutions to capture and use solar energy more efficiently."

What's Next:

We can expect continued research focused on enhancing the efficiency and scalability of these nanostructures.

Dive Deeper:

This breakthrough can offer an alternative to established methods such as photovoltaic and electrolysis-based hydrogen production in the clean energy sector. If produced at scale and affordably, supercrystals might reduce hydrogen production costs and become more widely available.

Big Idea:

Robin AI, a London-based AI-powered legal platform, has secured €24 million in Series B funding. Temasek, a global investment company based in Singapore, led the funding, with participation from QuantumLight, Plural, and AFG Partners.

Why It Matters:

The funding will enable Robin AI to capitalize on the demand for generative AI in the legal sector. The firm aims to democratize legal services, making them accessible to smaller firms and individuals. By automating the drafting and negotiation of contracts, legal teams can focus on more strategic tasks and increase the industry's efficiency standards.

Key Details:

• Robin AI has demonstrated a 5x YOY revenue growth, signaling market acceptance and effectiveness of its AI solutions.
• Robin AI integrates with Microsoft Word using Claude 2.1 and reduces contract review time by 85%.
• Clients include PepsiCo, PwC, Yum! Brands, AlbaCore Capital Group, and BlueEarth Capital. 

"We are building the AI platform for the legal sector - a service that deeply understands every aspect of the legal function, from drafting contracts, researching case law to explaining legal concepts - our AI will help people tackle every legal task," said Richard Robinson, CEO of Robin AI.

What's Next:

Robin AI’s plans include expanding its team in the U.S., where the majority of its revenue is generated, and establishing an office in Singapore to extend its presence in Asia Pacific. They will continue to develop their AI platform and address various legal tasks as well as bridge the gap between large and small law firms.

Big Idea:

CleanSpark, one of the largest US Bitcoin miners, is set to launch an in-house trading desk, seizing control of its substantial Bitcoin holdings to optimize returns. Against the backdrop of a bullish Bitcoin market, the move makes sense because of the company’s large Bitcoin holdings, fostering autonomy and risk management.

Why It Matters:

This is a growing trend among Bitcoin miners to employ their crypto derivatives and broaden their revenue stream beyond mining. Marathon Digital is selling Bitcoin call options contracts as a means of generating additional revenue and Hut 8 is pursuing AI opportunities after their merger.

Key Details:

• CleanSpark holds 2,575 Bitcoins valued at $97 million as of November.
• The in-house trading desk signifies a strategic shift for Bitcoin miners, allowing them to actively manage risks and capitalize on market expertise.
• As Bitcoin's value surges, the move is timely, aligning with optimism for a potential US-approved Bitcoin ETF, driving miners to explore diversified revenue streams.

Zachary Bradford, CleanSpark's CEO, affirms, "It just makes financial sense to do it in-house. That way, you can manage it with your own risk profiles and expertise and keep a really close eye on it."

What's Next:

CleanSpark plans to align its strategies with regulated crypto offerings like CME-traded option contracts, ensuring a secure approach to trading while safeguarding assets with reputable custodians like Coinbase.

Yes, but:

The strategy carries inherent risks, challenging the industry to balance newfound financial autonomy with the potential for market volatility.

Big Idea:

Therapeutic Plasma Exchange (TPE), traditionally a treatment for autoimmune disorders, has emerged as a new technique in longevity science. By cleansing the blood of aging-related cells and replenishing it with clean, individualized plasma-like fluids, this process supports the body and brain's ability to combat degeneration.

 Why It Matters:

TPE aligns with the focus on personalized medicine and regenerative therapies for combating aging diseases like Alzheimer's at the cellular level. With an aging global population, TPE's potential in reducing healthcare burdens and enhancing life quality gains relevance.

Key Details:

• TPE removes plasma containing aging-contributing cells, such as senescent cells and free radicals, and replaces it with therapeutic substances like albumin, offering a unique approach to treating aging and chronic diseases.
• Studies show TPE can reduce days on mechanical ventilation, ICU length of stay, and 35-day mortality in severe COVID-19 cases.
• This approach shows promise for treating a broad range of conditions, from autoimmune diseases to neurodegenerative disorders.

What’s Next:

TPE’s principle of 'spring cleaning' the blood is a radical way to treat aging. Specific figures are still pending but ongoing research and trials will reveal more results of TPE’s efficacy. 

Big Idea:

Rocket Lab has secured a $515 million contract to construct and manage 18 small satellites for a U.S. government agency, as revealed in an SEC regulatory filing. The customer is likely the Space Development Agency (SDA), an organization under the U.S. Space Force, working on the Proliferated Warfighter Space Architecture, a network of military satellites in low Earth orbit.

Why It Matters:

The small satellite (smallsat) sector, valued at $3.23 billion, is projected to reach $5.88 billion by 2030 due to innovative technologies and rising application demands. This trend highlights a shift towards versatile, cost-effective space technologies. Rocket Lab's contract supports strategic defense and communication advancements, underlining the growing commercial use of space by the military.

Key Details:

• Rocket Lab's contract involves designing, manufacturing, delivering, and operating 18 satellites with AI and advanced propulsion to enhance U.S. defense and intelligence in low Earth orbit.
• This deal represents a major growth in SDA's Transport Layer Tranche 2 Beta, a military satellite mesh network, which aims to expand the U.S. military low Earth orbit constellation with 90 satellites. 

What's Next:

Rocket Lab's ongoing projects, the Neutron rocket and the Photon satellites, showcase the company's forward trajectory, expanding operations and competing in the larger payload market. The satellite launches are planned for 2026 and 2027.

Dive Deeper:

The broader context is the U.S. making continued efforts to preserve their edge in the strategic space domain. The incorporation of advanced communication technologies in satellites such as using UHF and S-band frequencies for beyond line-of-sight connectivity highlights this.

By the Numbers:

• $1.4 trillion: Projected value of the space industry, including small satellites and private launches, by 2030.
• 82%: Percentage of smallsats launched between 2018 and 2027 that are part of constellations.
• 7,000: Number of smallsats expected to be launched between 2018 and 2027.

Big Idea:

Centralization of research and data has contributed to the lack of trust in scientific institutions and research, leading to a replicability crisis and wasting of taxpayer funds. The emergence of Web3 and blockchain technology provides a pathway for open access to data and manuscripts to ensure data integrity, scalability, flexibility, and data sovereignty while eliminating data silos. This model will create incentives for scientists to share research, data, and code openly, leading to progress and verifiable discoveries with the potential to improve human lives.

Why It Matters:

Open science practices, including open access to scientific manuscripts, are crucial to decentralize science within the FAIR principles (findable, accessible, interoperable, reusable). 

State Of Play:

VitaDAO is a decentralized biotech company dedicated to longevity science research. They communicate openly on platforms like Discord and Discourse and token holders can vote on strategic decisions.

Key Details:

• 47 out of 53 landmark cancer studies could not be reproduced, indicating a serious replication crisis.
• Decentralized Science (DeSci) utilizes Web3 and blockchain tools like IPFS to democratize access to scientific data, ensuring integrity and reproducibility.
• This shift could revolutionize scientific research, enhancing credibility, fostering collaboration, and increasing the pace of discoveries.
• DeSci initiatives like Molecule Platform, VitaDAO, and Antidote DAO are pioneering new models for funding and conducting scientific research.

What’s Next:

Open science raises questions about the balance between open accessibility and the need to protect sensitive data. However FAIR principles don't mandate blanket data accessibility and decentralized tools like IPFS allow controlled access. Funding agencies are also encouraging data sharing. It seems the adoption of open science practices is becoming essential for progress in scientific research.

Big Idea:

Microsoft has signed a 15-year agreement with Chestnut Carbon, an afforestation developer, to acquire carbon removal credits, with Chestnut providing potentially over 3 million tons of credits from its U.S.-based project.

Why It Matters:

This agreement is part of Microsoft's 2030 carbon negative goal and to remove all historical emissions by 2050, expanding the company's carbon removal portfolio that includes various technologies and approaches. This move reflects a growing trend among big tech like Alphabet and Meta in championing nature-based solutions.

Key Details:

• The project, deemed the largest U.S. afforestation initiative ever registered, aims to remove up to 2.7 million tons of carbon, starting with 362,000 tons in its first phase.
• Chestnut Carbon's approach combines reforestation, afforestation, and improved forest management, restoring marginal lands to plant native species and develop biodiverse ecosystems using proprietary technology and data sets.
• The Chestnut Carbon's project will expand to 500,000 acres, targeting 100 million tons of carbon removal by 2030.
• Following this deal, Microsoft signs another large-scale nature-based credit agreement with Brazilian reforestation startup Mombak, supplying up to 1.5 million credits from Amazon reforestation projects.
• Microsoft's carbon removal portfolio features technologies like direct air capture, ocean-based removal, and biochar methods.

“Microsoft’s 15-year purchase agreement with Chestnut Carbon for afforestation-based carbon removal credits is a positive step towards Microsoft’s carbon negative goals. We are excited to collaborate with Chestnut and its Sustainable Restoration Project for high-quality, nature-based solutions located in the United States,” said Brian Marrs, Senior Director of Energy & Carbon Removal at Microsoft.

What's Next:

The success of this project may boost future investments in nature-based carbon removal solutions.