Ganfeng Lithium to supply battery raw materials and step up the technology value of AION

Key Insights and Signals in Industrial

Center setup and Expansion
US chip equipment maker LAM Research to open its 2nd R&D center in India in Sep 
LAM Research plans to establish its second research and development center in India in September. This new facility will enable engineers to complete designs locally and reduce the company’s dependency on US counterparts. Read More>>
Boskalis Orders Cable lay spread from Royal IHC  
Boskalis has won a contract from its compatriot Boskalis to deliver an advanced modular cable lay spread (MCLS) for offshore wind applications. The cable lay system will be used to install inter-array power cables and its cable protection system (CPS) in offshore wind farms. Read More>>
Ganfeng Lithium to supply battery raw materials to GAC AION 
Ganfeng will provide reliable and cost-effective battery raw materials for GAC AION and the EV maker’s potential suppliers to help the partner build NEV projects and enhance the AION brand’s additional technology value and competitiveness. Besides, GAC AION will support Ganfeng Lithium in developing new types of batteries, like a solid-state batteries. Read More>>
Carlisle’s Office Technology Corporation announces a partnership with Canon 
Carlisle and Canon have announced a new partnership. An independent printer and copier manufacturer, Office Technology Corporation Limited, based in Carlisle’s Durranhill Industrial Estate, has recently been named Canon’s silver partner. Read More>>
Executive Movement
Flowserve appoints Ken Siegel to its Board of Directors 
Flowserve announced that its board of directors had elected Ken Siegel as an independent director and a member of the Audit Committee and Finance and Risk Committee of the board, effective August 16, 2022. Read More>>
BWX Technologies hires a new chief admin officer 
BWX Tech hired Robert Bob Duffy as its senior vice president and chief administrative officer, the nuclear components and fuel supplier. Duffy will take the place of Rick Loving, BWXTs current chief administrative officer, who announced his retirement after 43 years with the company. Read More>>
Financial and market activity
Nordson provides fiscal Q3 earnings snapshot 
Nordson reported fiscal third-quarter earnings of USD 141.8 Mn. The Westlake, Ohio-based company said it had a net income of USD 2.45 per share. Earnings, adjusted for severance costs, were USD 2.49 per share. The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of USD 2.45 per share. Read More>>
Financial and Market Activity
G.E. Power India’s loss narrows to INR 59 cr (USD 7.4 Mn) in the June quarter 
G.E. Power’s losses narrowed to USD 7.4 Mn in the April-June quarter of 2022-23 from INR 114.99 Cr (USD 14.3 Mn) in the quarter that ended on June 30, 2021. The company’s total income was INR 520.02 Cr (USD 65.4 Mn) in the June quarter compared to INR 551.20 Cr (USD 69.3 Mn) in the same period a year ago. Read More>>
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Latest Industry Insights from Draup Braindesk

  • Cummins focuses on developing electric and hybrid integrated power solutions, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, and electric power generation systems.  

    IoT-based Asset Performance Management and Optimization: 

  • Cummins has introduced PrevenTech Marine, the IoT-based Asset Performance Management and Optimization boost uptime that reduces maintenance costs and improves the service experience. It monitors Cumminspowered assets remotely, using connectivity, big data, advanced analytics, and IoT to help avoid unplanned downtime through the advanced detection, reporting, and diagnosis of potential engine health issues. 

  Vehicle Servicing Alerts: 

  • Cummins launched a new feature called Connected diagnostics using telematics. It helps the user wirelessly connect the engine to Cummins for continuous monitoring and diagnosis of system fault alerts in both on-highway and off-highway applications across a broad range of equipment, using a convenient mobile app, email, or web portal. Sumitomo Electric Wiring Systems provides advanced functions and parts, which increases require electronics to save space requirements. 

  3D-Metal Printing: 

  • Cummins has deployed its first production part using a high-precision 3D metal printing technology called binder jet. The 3D-Metal Printing reduces the number of nitrogen oxides (NOx) emitted from Cummins engine systems. Producing this part through additive manufacturing provides several additional benefits, including a lightweight design that improves geometry for fluid and airflow and adds a complexity of cross-drillings. 

Key Funding Alert

Furniture decor startup Sunday Design raises USD 1.5 Mn from Havells India family office, others 
Sunday Design raised the funding from a clutch of family offices. With this investment, Sunday Design intends to collaborate with top European designers and grow our footprint in an omnichannel format by introducing product lines strategically. Read more>>

Startup Spotlight

Company – Dusty Robotics 
Total Funding  USD 68.72 Mn
About: Dusty Robotics develops robot-powered tools for the modern construction workforce. Their flagship product, the FieldPrinter, turns digital BIM designs into fully-constructible layouts in the field quickly and accurately. Read more>>

Latest Reports Published in Draup

Molex Incorporated Account Intelligence Report 
Molex is developing FPGA solutions for memory-intensive applications and access to products for high-performance computing, computational storage, network, and sensor processing. It is keen to improve communication by utilizing innovation and engineering. Read More>>
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