CATL and PTT to build an EV battery plant in Thailand

Key Insights and Signals in Industrial

Ducab teams up with Baker Hughes to make ESP power cables
The company intends to develop and produce power cables for electrical submersible pumps, with the possibility of pump manufacturing in the UAE. The partnership aims to improve Ducab’s product offerings and contribute to the growth of the UAE’s industrial sector, which will benefit oil and gas clients such as Adnoc and Borouge. Read More>>
Jeanologia and GoBlu launched a verification program to score the environmental impact
The program aims to evaluate a facility’s capability to generate accurate Environmental Impact Measuring scores and implement necessary corrective actions. It has been successfully tested with Marks & Spencer, Primark, and Tesco. The partnerships aim to increase industry credibility and promote openness. Read More>>
Samsung Electronics and LG Display gear up for OLED TV market collaboration
Samsung has completed the first phase of launching an 83-inch OLED television, and LG may now ship panels to Samsung. This partnership demonstrates Samsung’s willingness to collaborate with its closest competitor to gain market share in the OLED television market. Read More>>
Centre Setup and Expansion
Ecolab’s Purolite business adds a manufacturing plant in Pennsylvania
Over the next five years, the new Ecolab facility will secure the supply of key components for pharmaceutical and biotech customers, increase production capacity, and create over 150 skilled jobs. The expansion enhances Pennsylvania’s standing in the expanding biotechnology industry. Read More>>
CATL and PTT to build an EV battery plant in Thailand
PTT subsidiary Arun Plus will receive a cell-to-pack production line and knowledge regarding battery pack manufacturing from CATL. This initiative aims to establish an EV battery ecosystem in Southeast Asia to support the production of electric vehicles. Read More>>
Executive Movements
Resonetics names Todd Trapp as Chief Financial Officer
Todd has extensive experience in financial management and the medical device industry, having served as executive vice president and chief financial officer for Abiomed and Watts Water Technologies. He holds a bachelor’s degree in accounting from Providence College and a master’s in business administration from Northeastern University. Read More>>
Rexel USA appoints a new Chief Strategy Officer
Rexel USA appointed Jordan Lomheim as Senior Vice President and Chief Strategy Officer. Wes Smith, who will assume an advisory role before his retirement in 2024. Lomheim’s previous positions at Celanese Corporation, Kimberly Clark, and JCPenney afford him corporate strategy and M&A expertise. Read More>>
Smith & Wesson to close Deep River facility
Smith & Wesson is closing its Deep River facility in Connecticut, resulting in the loss of 129 jobs. The facility at 12 Bridge St. will shut down on Dec. 31, 2024. Job cuts will commence on Aug. 4 and continue until December 2024. Read More>>
Mass Hiring
Raymond Corporation will hold job fairs in mid-June
Raymond Corporation in Greene, NY, is seeking over 200 manufacturing positions for various shifts and engineers in multiple disciplines. A virtual job fair for engineers will be held on Wednesday, while an in-person job fair for manufacturing and warehouse positions will occur on Saturday. Positions include forklift operators, welders, assemblers, and more. Read More>>
Product Launch
Accelleron re-imagines turbocharging with the launch of the next-gen X300-L low-speed series
Accelleron introduced the X300-L series of turbochargers for two-stroke engines, the next generation of turbochargers. With a platform-based design and Turbo Insights’ digital technology, it offers flexibility in fuel consumption and vessel operation. The first units are anticipated to be delivered by the end of 2025. The compact design makes servicing and customization simple. Read More>>
Financial and Market Activity
ChargePoint reports first quarter fiscal year 2024 financial results
ChargePoint reported strong first quarter fiscal year 2024 results, with revenue of US$ 130 Million, a 59% increase year-over-year. The company’s gross margin improved to 23% (GAAP) and 25% (non-GAAP). However, there was a GAAP net loss of US$ 79.4 Million, and the non-GAAP adjusted EBITDA loss was US$ 48.9 Million. Read More>>
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Latest Industry Insights from Draup Braindesk

Fluid Management
  • Ingersoll Rand focuses on non-electric, water-powered dosing pumps for applications in high-growth sustainable markets such as hydroponics, animal health, food safety, sanitation, and water treatment. 
  • They leverage wastewater treatment to extend their mission-critical, high-margin pumping solutions portfolio with precision and science technologies.
Air and Gas Compression
  • Ingersoll Rand develops its air treatment capabilities by onsite nitrogen generation systems for industrial, food & beverage, and manufacturing applications. 
  •  By enhancing Air Treatment, Ingersoll Rand developed a Compressed air dryer and filtration equipment that helped increase the production and process reliability of the compressor.
Predictive Maintenance
  • Ingersoll Rand enhances IIoT offerings with an innovative LoRaWAN technology platform to transmit & monitor the data that highlights its funnel generation capabilities for improving the quality of products. By expanding IoT connectivity, Ingersoll Rand consolidates key platforms into one cloud-based architecture to enhance the frequency of predictive maintenance.  
  • Service providers with rich expertise in Predictive Maintenance would find a well-built opportunity to serve Ingersoll Rand.

Key Funding Alert

German solar unicorn Enpal lands € 430 Mn in renewable energy debt funding
The funding will enable Enpal to install over 13,000 new renewable energy solutions, including solar systems, storage units, and EV chargers. Enpal’s total refinancing commitments now exceed € 1.9 Billion, marking Europe’s largest residential renewable energy debt fundraising. Read more>>

Startup Spotlight

Company – Charm Industrial
Total Funding  USD 100 Mn
About: Charm Industrial developed a novel pathway for carbon sequestration: putting oil back underground as bio-oil. The process converts agricultural residue to bio-oil, then injects the bio-oil into deep geological formations for permanent storage. Read more>>

Latest Reports Published in Draup

Cummins Inc. Account Intelligence Report
Cummins is keen on developing hydrogen emission services that improve green hydrogen and electrolyzer systems like natural gas, advanced diesel, electrified solutions, hydrogen fuel cells, and other technologies. Read More>>
Here’s what’s new on our Sales Intelligence Platform
Introducing Outsourced Workloads and Tech Stack Developer filters in Universe
  • Effortlessly filter companies based on their outsourcing engagements using the new Outsourced Workloads filter in Universe.
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