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PR Newswire

ASTM decision brings 100% SAF certification within reach

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STOCKHOLM, Aug. 8, 2023 /PRNewswire/ — Swedish Biofuels AB announced today that the ASTM International Committee has accepted the use of C2 to C5 alcohols as feedstock for the alcohol-to-jet (ATJ) pathway as well as a new specification for fully formulated aviation fuel with aromatics.

The ASTM International Committee D02 on Petroleum Products, Liquid Fuels, and Lubricants and Subcommittee D02.J on Aviation Fuel passed a concurrent ballot late June extending ASTM D7566, Standard Specification for Aviation Turbine Fuel Containing Synthesized Hydrocarbons, by a new Annex 8 submitted by Swedish Biofuels AB. When published, the revised issue of D7566 will be numbered D7566-23a and will display the specification of alcohol to jet synthetic paraffinic kerosene with aromatics (ATJ-SKA) produced by Swedish Biofuels technology and using single C2 to C5 alcohols or a combination of two or more C2 to C5 alcohols as feedstock for the process.

Unlike previously approved pathways, the Swedish Biofuels pathway is not limited to a single feedstock and includes the production of aromatics. With the ability to flexibly vary the amount of aromatics, the fuel produced by Swedish Biofuels is completely indistinguishable from fossil kerosene in its composition and properties. Even though D7566-23a currently only permits use of the jet fuel produced as a 50% blend with fossil kerosene, it is an important milestone in the sustainability journey and a short reach to 100% certification. Once D7566-23a is published by ASTM, it will be eligible as a standard to be used for fuel production for commercial airlines. It is estimated that these final actions will be completed by ASTM in Q3 2023.

About Swedish Biofuels

Swedish Biofuels delivers engineering solutions, process architecture and science for the production and conversion of alcohols to transport fuels and valuable chemicals from sustainable feedstocks. The company is the inventor of the original Alcohol to Jet technology (ATJ), patented in 2004 for the production of fully formulated sustainable aviation fuels from alcohols (SAF). The company has produced, sold and delivered fully formulated SAF for tests, certification and demonstration programs in the US, UK, Sweden and Germany.

The trade name of Swedish Biofuels ATJ SAF production technology is PureSAFSM. Swedish Biofuels has an alliance with KBR to offer PureSAFSM sustainable aviation fuel technology to the market. In addition to processing ethanol and other alcohols, this technology can also convert carbon dioxide and synthesis gas to SAF, thereby expanding opportunities to utilize captured carbon for a cleaner, greener future. Validation of this advanced technology was performed in conjunction with the Defense Advanced Research Projects Agency (DARPA) at Wright-Patterson Air Force Base, and the Swedish Defence Materiel Administration (FMV) at GKN Aerospace Sweden.

www.swedishbiofuels.se

PR Newswire

LG Display Wins 2023 Bosch Global Supplier Award

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SEOUL, South Korea, Aug. 7, 2023 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, announced today that it has received a ‘Bosch Global Supplier Award.’ The company receives this prestigious award in the category “raw materials and components”, demonstrating its unmatched leadership in the automotive display market.

LG Display Wins 2023 Bosch Global Supplier Award
LG Display Wins 2023 Bosch Global Supplier Award

The Bosch Group, a global leading supplier of technology and services, reserves its “Bosch Global Supplier Award” for only 46 suppliers from 11 countries of roughly 35,000 suppliers worldwide in this year, recognizing the most outstanding performers in the manufacturing and supply of raw materials, products, and services on a biennial basis since 1987.

LG Display and Bosch have engaged in a decade of strategic collaborations since 2012, during which LG Display has demonstrated distinctive technical capabilities, stringent quality management, and reliable supply capabilities. The company is well known for successful incorporating automotive OLED displays into premium automotive brands’ next generation of projects.

As a leading global supplier of digital clusters (instrument clusters) and center fascias (central control units) to top-tier automotive component makers and original equipment manufacturers (OEMs), LG Display continues to lead the market having achieved the highest global market share for the 5th consecutive year from 2018 to 2022 – based on revenue generated by premium automotive displays measuring 10 inches or larger.

LG Display leverages its technological prowess in automotive OLEDs and high-end LCD displays to expand sales and orders while enhancing its position as the industry’s global leader.

LG Display set a new standard for mobility when it introduced the world’s first Tandem OLED for automotives back in 2019. Tandem OLED embodies its groundbreaking two-stack OLED technology, where an extra organic emitting layer is added to the existing layer to deliver brighter screens while effectively dispersing energy across OLED components for optimal stability and a longer lifespan. LG Display will start mass-producing its second-generation Tandem OLED, which heightens the efficiency of organic light-emitting components, this year to further widen the technological gap between itself and competitors.

P-OLED is LG Display’s unique technology that incorporates innovative Tandem OLED into a flexible plastic substrate to make the design slim and light while maintaining unrivaled picture quality unique to OLEDs. P-OLED uses 60% less power and weighs 80% lighter than LCD displays, making it the ultimate solution for electric vehicles in particular. Moreover, the company’s automotive P-OLED has received the Eco-Product Certification Mark from SGS, a global leader in inspection, verification, testing, and certification, recognizing their excellence in minimizing the use of hazardous substances.

Moreover, LG Display has been strengthening its competitive edge in the market with its various products and technologies, including ATO (Advanced Thin OLED), which delivers the core strength of OLED for automotive displays at a more competitive price point, LTPS LCD, which excel in large-scale implementation and high-resolution rendering, IPS (In-Plane Switching), which significantly enhanced the viewing angles, SPM (Switchable Privacy Mode), which controls a viewing angle for safe driving. What’s more, it has become the first in the industry to introduce a flame-resistant certification program to every automotive panel in order to boost safety and stability.

“We are extremely proud to have been recognized as automotive display maker by Bosch. This award acknowledges our endless pursuit of the perfect customer experience, a journey that promotes innovation at every step of the way which enables us to deliver unparalleled technologies, quality, and support to our customers,” said Byeong-koo Kim, Senior Vice President and Head of Auto Business Group at LG Display. “We will continue to strengthen our order-based business’s competitiveness based on our revolutionary technologies, especially P-OLED and LTPS LCD.”

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:

TaeHyun Tommy Jang, Assistant Manager, Global PR Team
Email: tommy.jang@lgdisplay.com

Joo Yeon Jennifer Ha, Manager, Global PR Team
Email: hjy05@lgdisplay.com 

PR Newswire

Arasan’s MIPI CSI-2 IP achieves ISO26262 ASIL-C Certification for MIPI C-PHY Connectivity

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Arasan announces the ISO26262 ASIL-C functional certification of its latest MIPI CSI IP supporting MIPI D-PHY and C-PHY v2.0 speeds of upto 54.72Gbps 

SAN JOSE, Calif., July 12, 2023 /PRNewswire/ — Arasan, a leading provider of mobile storage and connectivity IP solutions, is proud to announce the ISO26262 ASIL-C functional certification for its latest MIPI CSI-2 IP. This certification applies to Arasan’s MIPI CSI IP, which seamlessly integrates with its MIPI C-PHY IP and D-PHY IP, enabling speeds of up to 54.72Gbps in C-PHY mode.

The ISO26262 ASIL-C certification signifies that Arasan’s CSI-2 IP meets the stringent safety requirements for automotive System-on-Chips (SoCs). Additionally, the certification extends its usability to defense, aircraft, and other industries where the CSI-2 IP, with its wider bus, can be employed on FPGA together with the built-in D-PHY or Arasan’s C-PHY ASIC.

Arasan’s commitment to safety compliance is further demonstrated by the ISO26262 ASIL-C certification. The company’s IP has been extensively utilized in multiple protocol analyzers, lab-based compliance testers, and high-volume production testers for assessing MIPI protocol compliance.

Imaging companies seeking to develop prototypes or limited production quantities of high-resolution camera products can license Arasan’s CSI IP in conjunction with the MIPI C-PHY/D-PHY Combo ASIC.

Apart from the MIPI CSI-2 IP, Arasan offers a comprehensive portfolio of IP solutions for automotive SoCs, including Ethernet, CAN FD/XL, and USB.

The ISO26262 ASIL-C certified MIPI CSI-2 IP is readily available for licensing, catering to both SoC and FPGA applications. Customers licensing Arasan’s CSI Controller IP can be assured of its compliance with specifications, instilling confidence in its usage for testing compliance.

About Arasan:

Arasan Chip Systems has been an active member of the MIPI Association since 2005, providing IP solutions for mobile storage and connectivity interfaces. With over a billion chips shipped incorporating Arasan’s MIPI IP, the company has established a reputation for delivering high-quality, silicon-proven Total IP Solutions, encompassing digital IP, AMS PHY IP, Verification IP, HDK, and Software. Arasan’s focus lies in mobile SoCs, which have evolved to encompass a wide range of applications, from PDAs in the mid-’90s to today’s automobiles, drones, and IoT devices. Arasan remains at the forefront of this “Mobile” evolution, providing standards-based IP that forms the foundation of Mobile SoCs.

Press Contact:
Bonnie Noufer
bonnie.noufer@arasan.com 

Source: Arasan Chip Systems, Inc.

PR Newswire

CIMC 2022 AGM: Container demand stabilizes and rebounds, Energy new orders surge

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SHENZHEN, China, July 7, 2023 /PRNewswire/ — CIMC Group (00039.SZ/2039.HK)’s 2022 annual general meeting, the first A-share class meeting in 2023 and the first H-share class meeting in 2023 were held in Shenzhen headquarters. Chairman and CEO Mai Boliang presided over the AGM, while other directors, supervisors, and senior executives of the Group participated and attended the meeting respectively.


During the meeting, it was revealed that container demand is gradually recovering in the second quarter of 2023, with freight rates and volumes stabilizing. Notably, the North American market has witnessed high profitability in road transport vehicles, while the gross profit margin of the domestic lighthouse factory business has increased. Additionally, the energy sector has experienced a surge in new orders, particularly for clean energy equipment, with the offshore engineering business boasting a full order book and rapid capacity expansion.

The management of CIMC Group engaged in face-to-face communication with shareholder representatives and media journalists, addressing various topics of market concern, including container business operations, energy industry layout, cross-ocean vehicle operations, and the development prospects of the cold chain business.

Stabilizing and Rebounding Container Demand
Revamping the Fresh Supply Chain Ecology through Cold Chain Restructuring 

In the second quarter of the year, the shipping industry’s market demand is gradually recovering as freight rates and volumes exhibit signs of stabilization. CIMC’s container demand has stabilized and rebounded, with some orders already scheduled for production in the third quarter, marking a positive shift from the previous quarter.

Addressing the global trade landscape changes, Chairman Mai Boliang said during the meeting, “As the basic unit of global logistics, containers are closely related to global trade activities and are not limited to any particular shipping route. Although the current global trade landscape is facing certain challenges, the proportion of global industrial output accounted for by long-term global trade remains high and still developing. Although the growth rate may not be significant, the prospects are still promising. We believe that changes in the trade landscape will not have a disruptive impact on container demand.”


Furthermore, regarding media’s concerns about the relocation of container factories due to the global industrial chain transfer, Mai Boliang stated, “There is indeed a trend of the transfer of some light manufacturing industries to Southeast Asia, and even in the future to Africa and South America, for the joint global development. As a leading enterprise in the container industry, CIMC always keeps a close eye on this trend and is constantly conducting research. No matter how the situation changes, CIMC’s global position in the container industry will not change.“

According to BIMCO, a highly influential international shipping organization, under the basic scenario, global container shipping volume is expected to increase by 0.5%-1.5% in 2023 and by 5.5%-6.5% in 2024. Volume and growth rate recovery are anticipated in the second half of 2023m, with the total volume of major outbound and regional routes projected to be approximately 7% higher by the end of 2024 compared to 2022.

Despite the pressure the shipping market faces in the first half of 2023, CIMC Group has demonstrated a market share increase against the trend, highlighting its competitive advantages. Leveraging its strong foothold in the container manufacturing market, the Company actively explores new opportunities through its “container+” business, achieving growth in multiple areas.

For example, CIMC is actively developing new products suitable for modern agriculture and new energy vehicle scenarios, such as planting containers, integrated refrigeration and insulation equipment boxes, new energy refrigerated containers, and V-RACK frame containers, among others.

Benefiting from the growth of the electrochemical energy storage market, CIMC’s container energy storage business continued to develop rapidly in 2022, reaching new revenue highs. By focusing on integrating energy storage systems, the business has transitioned from offering 20-foot and 40-foot containers to providing fully integrated energy storage solutions to downstream customers. Notably, records of batches of multiple deliveries have already been made to satisfied customers, showcasing the business’ strong performance.

CIMC Fishery has made significant strides in promoting the transformation and upgrading of traditional aquaculture industries through innovative “container+” scenarios. The modular construction business has made significant progress in both domestic and international markets, achieving significant milestones in several major projects.

Mai Boliang emphasized the rapid growth and stability of CIMC Group’s “container+” business. This sector has contributed significantly to the container industry, effectively mitigating the cyclical fluctuations associated with traditional containers.

Mai Boliang also reiterated CIMC Group’s active promotion of the fresh supply chain ecosystem reconstruction. China’s fresh supply chain currently faces several challenges, including (1) lengthy intermediate circulation processes, where fresh products typically go through multiple layers of transportation and circulation before reaching consumers, and (2) a lack of accurate full-process cold chain transportation, resulting in a loss rate of nearly 30%, not including the degradation of product quality, which can turn a first-grade product into a fifth-grade product.

“CIMC aims to address these two pain points by reducing the intermediate circulation process and ensuring accurate full-process cold chain transportation, eliminating fresh product loss rates and extending shelf life. This is where CIMC’s advantages are at,” added Mai Boliang, optimistic about the development prospects of CIMC’s cold chain business.

North American Vehicle Business Exceeded Expectations, Highlighting the Resilience of Its Cross-border Operations.

CIMC’s vehicle business has achieved impressive results driven by domestic recovery and overseas growth. In the first quarter of 2023, the business recorded a net profit that doubled year-on-year, while the gross profit margin increased significantly by 8.2 percentage points, setting a new historical record.

Notably, the strong profitability of its North American operations played a crucial role, benefitting from favorable economic policies and the rapid growth of intermodal transportation in the region. According to market research company, ACT Research, in the first quarter of 2023, the North American market’s semi-trailer production volume has reached 101,500 units, a year-on-year increase of 14.04%, maintaining its leading position in the industry.

Entering the second quarter of this year, the North American market continues to demonstrate high demand trends, with ongoing order deliveries. In 2023, as the impact of the pandemic gradually diminishes in North America and consumer demand grows, the freight volume of the overall vehicle transportation market is expected to rise, sustaining the robust demand for semi-trailer equipment.

Besides the favorable conditions in the North American market, strong demand is also emerging from other markets. Developing countries represent the most pressing demand for global development, offering ample opportunities for high-growth industries. CIMC’s vehicle business is actively seeking market prospects in Southeast Asia, Africa, and the Middle East, facilitating the establishment of LoM manufacturing plants and constructing a sustainable and competitive overseas emerging market operation system. In the first quarter of this year, the Vanguard business seized overseas market opportunities, vigorously developed emerging markets, and achieved remarkable revenue growth of a notable 5 percentage points increase in gross profit margin.


In the domestic market, the continuous recovery of infrastructure investment, steady progress in imports and exports, favorable government policies, and smoothness of the road transportation network have set the stage for a moderate recovery in China’s heavy truck market this year. Industry forecast reports predict China’s heavy truck sales in 2023 will reach approximately 800,000 units, marking a year-on-year increase of about 20%.

Industry insiders have analyzed that this year, the recovery of China’s commercial vehicle market is highly probable, and both North America and Europe are expected to witness growth. Furthermore, exploring emerging markets, such as Southeast Asia, will contribute to CIMC’s positive vehicle sales growth.

Surging new orders for energy equipment, and the order book is full.

In the energy sector, CIMC Group focuses on major areas such as energy, chemicals, liquid food equipment, and offshore engineering while continuously increasing its investment in new energy. The Company has made comprehensive layouts in key equipment areas, such as hydrogen, offshore photovoltaic power, offshore wind power, and energy storage.

As the Chinese economy steadily recovers and international natural gas prices decline, domestic natural gas consumption is gradually improving. According to data from the National Development and Reform Commission, China’s apparent natural gas consumption from January to April this year reached 129.26 billion cubic meters, reflecting a year-on-year increase of 4.1%. Furthermore, the National Bureau of Statistics reported that China’s natural gas imports from January to May amounted to 46.291 million tons, representing a year-on-year increase of 3.3%. The sales of LNG heavy trucks have also increased significantly, with 10,804 natural gas heavy trucks sold domestically in May, showcasing a staggering year-on-year increase of 547.3% and a month-on-month increase of 35%. Cumulative sales from January to May reached 35,000 units, reflecting a year-on-year increase of 255.8%.

The recovery of demand in the natural gas industry has propelled the clean energy equipment business to new heights. CIMC Enric, as a leading player in the domestic clean energy industry, has experienced substantial growth in revenue and orders since 2023. Strong demand has been observed for low-temperature and high-pressure equipment sales, and the overseas markets continue to demonstrate robust demand for onshore clean energy equipment and engineering.

CIMC Group President Gao Xiang has mentioned that CIMC Enric has strategically positioned its business around the “manufacture, storage, transportation, and usage” of clean energy equipment, enabling a comprehensive industry chain layout. The Company focuses on researching high-pressure equipment for hydrogen storage and transportation. With the government currently promoting the use of Type IV hydrogen storage tanks, CIMC Enric has partnered with Hexagon to develop these tanks, which are expected to be launched this year, further enhancing CIMC’s core competitiveness. Last year, CIMC’s hydrogen energy business achieved sales of 440 million RMB, and high-speed growth is expected to continue this year.


In addition, the shipbuilding industry is experiencing a long-term high boom cycle due to ship replacement cycles and stricter environmental requirements. CIMC Enric’s water-based clean energy business has recently and consecutively secured multiple orders, including LNG fuel tanks worth over 1 billion RMB, 2+2 1450 TEU LNG dual-fuel container ships worth over 1 billion RMB, 2+2 LPG/ammonia transport ships worth nearly 900 million RMB, and 4 clean energy river-sea intermodal bulk cargo ships worth over 250 million RMB, benefiting from the strong industry demand.


Meanwhile, CIMC’s offshore engineering business is developing substantially, propelled by the increasing demand for traditional oil and gas FPSO equipment and the dual drive of new energy-related industries. In the first quarter of 2023, the business achieved remarkable year-on-year increases in newly signed orders and cumulative order backlog. Newly signed orders reached $1.1 billion, showcasing a year-on-year increase of 119%, while the order backlog reached $4.76 billion, a year-on-year increase of 116%. Concurrently, the offshore asset management platform business secured a new contract for a self-elevating drilling unit at the end of March, leading to a 53% year-on-year increase in the order backlog, amounting to 349 months.

Addressing concerns about the impact of recent crude oil price fluctuations on CIMC’s offshore engineering business, Mai Boliang responded that “minor oil price fluctuations are considered normal. Furthermore, in recent years, CIMC’s offshore engineering business has proactively capitalized on the historical opportunities presented by the rapid development of new energy and special-purpose ships. Investment in new production capacity and timely product delivery in emerging areas has been pivotal. Approximately 50% of the order backlog value of CIMC’s offshore engineering business originates from non-oil and gas projects. The recovery trend is relatively certain when considering the offshore engineering industry as a whole. Based on the construction nodes of the order backlog, we expect the offshore engineering industry to experience a substantial period of robust recovery over the next 3-5 years.“

Moreover, CIMC Group has actively entered overseas markets in the energy storage sector and established a strategic joint venture with POWIN Energy, a leading international energy storage integrator and manufacturer. The two entities are actively expanding the global market for fully integrated energy storage equipment through technological research and development and product innovation.

Shenzhen has proactively embraced energy storage as a “windfall” area, with the city’s policy support and planning in the field of energy storage at the forefront. In June 2022, Shenzhen issued the “Action Plan for Cultivating and Developing New Energy Industry Clusters in Shenzhen (2022-2025)”, which identifies the development of new energy storage as a critical project, emphasizing the need to strengthen the electrochemical energy storage system. Based on unwavering policy support and certain industry trends, CIMC’s energy storage business is poised to maintain sustained growth momentum.

PR Newswire

Webb Fontaine Awarded New Contract by Ethiopian Government to Strengthen Trade Facilitation

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DUBAI, UAE, July 6, 2023 /PRNewswire/ — Webb Fontaine, a global leader in AI-powered trade solutions, is proud to announce that it has been awarded a contract with the Ethiopian government to continue its crucial work in the enhancement of the Customs system. This partnership marks a significant milestone in Webb Fontaine’s ongoing commitment to driving trade facilitation and economic growth in Ethiopia.

Ethiopia, with its incredibly large volumes of trade transactions, presents immense opportunities for economic expansion. Recognizing this potential, Webb Fontaine is honored to have the opportunity to continue its collaboration with the Ethiopian government in further advancing the country’s Customs system.

Pascal Minvielle, COO of Webb Fontaine, expresses his pride, saying, “We are incredibly proud of the achievements realized through our previous contract with Ethiopia Customs, where we successfully implemented a new Customs system. This new contract signifies a pivotal moment in our partnership, as we focus on developing and expanding upon the foundations we have established. Webb Fontaine is fully committed to working alongside the Ethiopian government to drive trade facilitation and foster sustainable economic growth.”

The second contract emphasizes the mutual dedication of Webb Fontaine and the Ethiopian government to leverage cutting-edge technology and innovative solutions to streamline trade processes and enhance Customs operations. By further developing the Customs system, Webb Fontaine aims to optimize efficiency, increase transparency, and improve revenue collection, ultimately driving economic prosperity in Ethiopia.

The successful implementation of the new Customs system under the previous contract has already demonstrated its transformative impact on trade facilitation in Ethiopia. This new contract represents a continuation of the partnership’s shared vision to build on the system’s success, harnessing its potential to revolutionize trade processes and strengthen Ethiopia’s position in the global market.

Webb Fontaine is committed to delivering state-of-the-art solutions powered by AI and innovative data analytics. Through this ongoing collaboration, the Ethiopian government will benefit from advanced tools and technologies that facilitate seamless trade operations, effective risk management, and simplified document submission and verification.

This partnership is a testament to Ethiopia’s commitment to digital transformation and Webb Fontaine’s dedication to supporting the country’s ambitious trade facilitation goals. Together, they will continue to enhance the Customs system, driving economic growth, attracting investments, and fostering stronger international trade relationships.

PR Newswire

CJ Logistics and Korea Ocean Business Corporation to Invest up to $457 Million in Creating Large-scale Logistics Centers in the US

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  • Large-scale logistics centers will be built in strategic logistics and distribution hubs, including Chicago and New Jersey.
  • CJ Logistics will provide the land for these centers, which collectively cover an area equal to 50 soccer fields, while KOBC will secure the necessary funding for the construction.
  • The logistics centers are expected to serve as strategic hubs, facilitating import and export transloading as part of global, end-to-end supply chain solutions, and as an export forward base for South Korean companies to North America.
  • The project is a first-of-its-kind public-private collaboration designed to expand the CJ Logistics North America supply chain.
  • CJ Logistics is expanding and optimizing its operations model to meet local demand and respond to the needs of consumer goods and industrial materials markets.

DES PLAINES, Ill., June 28, 2023 /PRNewswire/ — CJ Logistics, a leading innovative supply chain and technology company in South Korea, has announced a strategic partnership with the Korea Ocean Business Corporation (KOBC) to construct large-scale logistics centers in the United States through a public-private collaboration. With a total investment of approximately $457 million (KRW 600 billion), these logistics centers will prioritize handling the import and export cargo of global and South Korean companies, facilitating their overseas expansion and trade activation. Additionally, this initiative aims to strengthen the economic alliance between the U.S. and South Korea by fostering local investment and job creation.

(From front left) CJ Logistics America COO Ken Heller, CJ Logistics America CEO Kevin Coleman, CJ Logistics Global Business Unit CEO Byoung-ku Kang, CJ Logistics CEO Sin-ho Kang, Korea Ocean Business Corporation Chairman & CEO Yang-Soo Kim, Consulate General of the Republic of Korea in Chicago Deputy Consul General Hyung-In Gee, Consulate General of the Republic of Korea in Chicago Consul Insu Kim, KOTRA Chicago Director Hosung 'Boston' Sohn are taking a picture at the event.
(From front left) CJ Logistics America COO Ken Heller, CJ Logistics America CEO Kevin Coleman, CJ Logistics Global Business Unit CEO Byoung-ku Kang, CJ Logistics CEO Sin-ho Kang, Korea Ocean Business Corporation Chairman & CEO Yang-Soo Kim, Consulate General of the Republic of Korea in Chicago Deputy Consul General Hyung-In Gee, Consulate General of the Republic of Korea in Chicago Consul Insu Kim, KOTRA Chicago Director Hosung ‘Boston’ Sohn are taking a picture at the event.

The first-of-its-kind public-private partnership between CJ Logistics and KOBC, a South Korean government entity, will increase South Korean investment in the U.S. and create new jobs for Americans.

The venture, known as the “North American Project,” entails the construction of large-scale logistics centers across three sites owned by CJ Logistics America, located in key logistics and distribution hubs such as Chicago and New Jersey, totaling 3,875,000 square feet. These sites collectively span an area equivalent to 50 international standard soccer fields. While CJ Logistics plans to contribute the land, KOBC will secure funding for the construction of the logistics centers.

CJ Logistics will assume responsibility for the operation of these three logistics centers, with a primary focus on handling the import and export cargo of global and South Korean companies and e-commerce sellers, thereby supporting their market entry into the U.S. The investment commitment agreement is expected to be signed within the third quarter of this year, and construction is scheduled to commence in the first quarter of next year, with a phased completion targeted from the first half of 2026 to 2027.

In a ceremony held on June 19, Sin-ho Kang, CEO of CJ Logistics, and Yang-soo Kim, CEO of KOBC, signed an agreement to implement this project at CJ Logistics America’s office in Des Plaines, Illinois. Following the agreement, the two CEOs and executives of CJ Logistics and KOBC visited the planned site for the logistics center.

CJ Logistics and KOBC have also committed to active cooperation not only on this project but also on investments in logistics infrastructure in the U.S. and other countries to enhance the global logistics competitiveness of CJ Logistics and South Korea.

Strategically located in three major U.S. cities or logistics hubs, CJ Logistics’ sites offer significant advantages. Elwood, Illinois, adjacent to the terminals of BNSF and Union Pacific, the largest freight railroad companies in the US, provides efficient transportation and delivery nationwide within one to two days via road and rail networks. Des Plaines, Illinois, is located near Chicago, one of the three largest cities in the U.S. and major consumer markets, as well as O’Hare International Airport, the largest freight airport in the country. Secaucus, New Jersey, situated near New York Harbor, JFK Airport, and New York City, offers access to another major consumer market.

With the development of these strategic hubs, CJ Logistics is optimizing its global logistics model to meet customer needs for integrated, end-to-end supply chain solutions. It will generate synergy by connecting the newly constructed logistics centers with its existing network of 57 operational logistics centers across the US. This connection will act as a catalyst for innovative growth in the business conducted in the US.

Moreover, with the vision of leading the global logistics industry with world-class technology, CJ Logistics will continue to accelerate and introduce advanced technologies such as automation, big data and AI, leveraging its TES (Technology, Engineering, Systems & Solutions) applications which have been successfully developed in South Korea, and are underway in North America. The company plans to enhance efficiency through the implementation of Autonomous Mobile Robots (AMR), Autonomous Fork Lifts (AFL), and smart packaging systems.

The North America Project holds significant meaning as it represents a joint effort between a government entity and a private enterprise to support South Korean companies’ entry into the US, the world’s leading economic market, and raise their global competitiveness.

While South Korean companies have made recent investments in various sectors such as electric vehicles, batteries, and semiconductors in the U.S., this collaboration between the public and private sectors is notable as the first of its kind. The project is projected to generate an investment of approximately $457 million and create 500 permanent jobs, along with additional employment opportunities, contributing to the strengthening of the U.S.-Korea economic alliance.

Commenting on the project, Mr. Kang, CEO of CJ Logistics, said, “We are committed to supporting our North America customer base, South Korean companies and e-commerce sellers as they enter the U.S. market. By utilizing our cutting-edge logistics infrastructure and operational capabilities, we aim to increase customer value, serve as a strategic partner to our customers who can benefit from global and multimodal solutions, and expand the ‘K-Wave’ into the business sector.”

Mr. Kim, CEO of KOBC, added, “The construction of logistics hubs in the U.S. will enhance the competitiveness of South Korea’s global supply chain and create value-added supply chain services through integration with maritime logistics.” He further emphasized, “We will continue to explore opportunities to enhance global logistics competitiveness by leveraging the resources, capabilities, and expertise of both sides.”

In the first quarter of this year, South Korea’s exports to the U.S. recorded $28.6 billion, a 3.5% increase compared to the same period last year. The U.S. ranked as South Korea’s largest trade surplus country during this period, with a trade surplus of $7.2 billion. E-commerce exports to the U.S. also saw significant growth, reaching $323 million in the previous year, a 23.8% increase compared to the previous year, according to the Korea Trade Statistics Promotion Institute.

CJ Logistics

CJ Logistics provides integrated global supply chain services, maximizing customer value through continuous improvement and innovation. Currently, CJ Logistics operates technology-driven logistics businesses at 280 bases in 40 countries around the world. With a focus on social responsibility and sustainability through growth with customers and communities, CJ Logistics prioritizes the well-being of the end consumer. CJ Logistics offers an integrated, one-stop SCM service platform with air and sea international freight forwarding, warehousing and transportation contract logistics, asset-based trucking, parcel and express delivery, and supply chain consulting. As a lead logistics partner (LLP), third-party logistics provider (3PL) and supply chain consultant, CJ Logistics helps customers leverage supply chain management as a competitive advantage, reducing total system costs, transforming business processes, improving service and facilitating growth and change. CJ Logistics America, a division of CJ Logistics, is responsible for leading warehousing, transportation and freight forwarding operations across the North America region, specializing in solutions for regulated industries such as food and beverage, consumer packaged goods, healthcare and medical supplies, and tire and automotive. cjlogisticsamerica.com

CJ Logistics plans to build three large logistics centers in Illinois and New Jersey. A large distribution center in Elwood, Illinois. (Bird's eye view)
CJ Logistics plans to build three large logistics centers in Illinois and New Jersey. A large distribution center in Elwood, Illinois. (Bird’s eye view)

PR Newswire

Announcement of the Release of Guidelines for Customizing Level 4 Commercial Autonomous Vehicles

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TOKYO, June 23, 2023 /PRNewswire/ — TIER IV, a leader in open-source autonomous driving (AD) technology, is pleased to announce the release of the “Level 4 Custom Design Guidelines” for the drive-by-wire modification of commercial vehicles to accommodate AD technology. These guidelines aim to contribute to the electrification of existing commercial vehicles and ease the widespread adoption of Level 4 AD technology.

As a founding member of the Autoware Foundation (AWF), we are fully committed to promoting industry standardization and the advancement of open-source software (OSS). Building upon these guidelines, we intend to propose their adoption to the AWF, further accelerating the development of AD technology through OSS.

Download       English Version here      Japanese version here

About TIER IV

TIER IV, the creator of Autoware, the world’s first open-source autonomous driving (AD) software, is at the forefront of the research and development of AD technology. The company provides cutting-edge technology solutions, including software and hardware across multiple platforms, that enable the safe and efficient development of AD. TIER IV is committed to the societal implementation of AD technology, driven by their vision of “the art of open source – reimagine intelligent vehicles”.

As a founding member of the Autoware Foundation, TIER IV leverages Autoware’s capabilities and collaborates with partners worldwide. Through the ecosystem powered by Autoware, the company aims to expand the potential of AD technology, involving individuals, organizations, and all stakeholders, as they strive for the realization of a better society.

*Autoware is a registered trademark of the Autoware Foundation.

Contact: Shizuka Ono, shizuka.ono@tier4.jp 

Source: TIER IV, INC.

PR Newswire

Hyundai Motor Joins Forces with Culture Convenience Club to Provide Personalized Zero-Emission Vehicle Lifestyle

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  • The partnership to propose new lifestyle that combines zero-emission-vehicle (ZEV) mobility and cultural content in Japan by collaborating on new concept mobility service, data-driven marketing and global experience platform development
  • Based on their shared people-centric vision, Hyundai Motor and CCC aim to bring innovative customer experiences and foster a sustainable society
  • The two companies expect to enhance customer value based on their highly sophisticated data-driven partnership in the era of hyper-personalization

TOKYO and SEOUL, South Korea, June 22, 2023 /PRNewswire/ — Hyundai Motor Company, Hyundai Mobility Japan and lifestyle content company Culture Convenience Club (CCC) today signed a memorandum of understanding (MOU) to co-create sustainable lifestyle services for the zero-emission-vehicle (ZEV) era.

Jaehoon Chang, President and CEO of Hyundai Motor Company
Jaehoon Chang, President and CEO of Hyundai Motor Company

The partnership aims to further facilitate Hyundai Motor’s efforts to satisfy Japanese customers with zero-emission vehicles and online sales since its re-entry into the market in February 2022. With the accelerated transition to electrification, Hyundai Motor and CCC’s strategic partnership aims to expand the new mobility lifestyle in Japan and beyond to global markets.

“Through this collaboration, we expect to create new opportunities through various endeavors,” said Chang, President and CEO of Hyundai Motor Company. “In particular, CCC, which plans new lifestyles by thoroughly analyzing customers’ preferences, and Hyundai Motor’s ZEV culture will work together to build a differentiated Hyundai brand image.”

Hyundai Motor and CCC share people-centric ideas embedded in their brand concepts and missions. In the new era that requires economic, social and environmental sustainability, the two companies have decided to collaborate on promoting a ‘new lifestyle through ZEV’ in Japan and then expand the program globally. Through this collaboration, both companies will promote specific ZEV lifestyle proposals based on their shared value of fostering a sustainable society.

“As a lifestyle content company, CCC has contributed to the creation of diverse lifestyles in Japan. With the current changes in the global environment and the significant changes in people’s life values, the concept of sustainability has begun to penetrate car life as well,” said Takahashi, President and COO of CCC. “This partnership is in line with Hyundai’s vision and values, and we hope to propose a new ZEV lifestyle to our customers, promote their wellness and lead social action for zero emissions on a global scale.”

More information about Hyundai Motor and its products can be found at:

http://worldwide.hyundai.com or http://globalpr.hyundai.com

(from left) Jaehoon Chang, President and CEO of Hyundai Motor Company / Yasunori Takahashi, President and Chief Operating Officer (COO) of CCC
(from left) Jaehoon Chang, President and CEO of Hyundai Motor Company / Yasunori Takahashi, President and Chief Operating Officer (COO) of CCC

Hyundai Motor Joins Forces with Culture Convenience Club to Provide Personalized Zero-Emission Vehicle Lifestyle
Hyundai Motor Joins Forces with Culture Convenience Club to Provide Personalized Zero-Emission Vehicle Lifestyle

PR Newswire

SK hynix Receives International Certification for Automotive Memory Solution Development

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  • Obtains internationally recognized ASPICE Level 2 Certification through collaboration with Siemens
  • Aims to meet growing demand from automotive chip market, improve profitability with globally recognized NAND solutions

SEOUL, South Korea, June 20, 2023 /PRNewswire/ — SK hynix Inc. (or “the company”, www.skhynix.com) announced today that it has received the automotive ASPICE Level 2 certification, marking the first case that a Korean semiconductor company wins the recognition.

* ASPICE(Automotive Software Process Improvement & Capability dEtermination): A guideline for automotive software development that was introduced by European carmakers to evaluate reliability and capabilities of auto part suppliers.

The certification, essential for automotive NAND solution products, is expected to lead to an increased supply and stronger profitability of the company’s NAND solution products such as Universal Flash Memory and Solid State Drive, of which combined market is expected to grow by more than an average 20% every year, the company said.

With introduction and adoption of electric vehicles and autonomous driving system, the importance of technology in the areas of electric and electronic parts of vehicles is also growing.

Particularly, with systems for Advanced Driver Assistance System and Infotainment getting more sophisticated, the importance of software quality management as well as compatibility and stability is growing, requiring auto part suppliers to obtain the ASPICE Level 2 or the equivalent.

To win the certification, SK hynix combined its digital transformation technology with Siemens’ certification solution, which helped result in optimization and success of a stable and efficient system for the overall research and development process ranging from design of software for vehicles and engineering of products to workflow.

The latest achievement follows obtainment of an ISO 26262: 2018 FSM(Functional Safety Management**) in November 2021 as SK hynix continues to deliver accomplishments in the automotive memory business with commitment to safety and reliability.

** ISO 26262: 2018 FSM(Functional Safety Management): An international standard for functional safety in automotive semiconductors set by the International Organization for Standardization.

SK hynix will now aim for the ASPICE Level 3 certification with a more advanced software development process.

“Our achievement comes at a time when product competitiveness of automotive memory solution is more important than ever,” Ahn Hyun, head of solution development, said. “We will aim higher and continue our efforts for development and stronger product competitiveness of automotive memory chips.”

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”), flash memory chips (“NAND flash”) and CMOS Image Sensors (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

Source: SK hynix Inc.

PR Newswire

TOPBAND shines at EES Europe 2023

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Building a more intelligent and low-carbon world!

MUNICH, June 18, 2023 /PRNewswire/ — The EES Europe 2023 was held at the Messe München in Munich, Germany from June 14-16, 2023. TOPBAND brought its core products of cells, BMS, EMS and PCS (1C3S), small and medium-sized energy storage systems and new energy vehicles, two and three-wheelers and other related products and solutions to the fair. As one of the focuses at the fair, TOPBAND attracted a large number of visitors to the booth to conduct deep communication about future development of new energy field.

TOPBAND at EES 2023
TOPBAND at EES 2023

TOPBAND’s new energy business is mainly in medium and small-scale energy storage and new energy vehicles and its products include batteries, power supplies, controllers and motors. TOPBAND mainly provides customers with components and system solutions with its own core technologies of cells, BMS, PCS and EMS in the field of residential energy storage, industrial and commercial energy storage, portable energy storage and power backup storage. TOPBAND provides customers in the field of new energy vehicles, other special vehicles and two and three-wheelers with intelligent controllers and chargers with its integrated technology system of electronic control, motor, battery, power supply and IoT platform to support green and low-carbon development.

The boutique areas of TOPBAND were distinctive, showing its technical strength in the field of new energy. Star exhibits such as the residential energy storage, storage inverter, BMS for industrial and commercial energy storage, EV chargers and charging piles, were well received by the visitors.

Residential Energy Storage: TOPBAND’s residential energy storage products include high and low-voltage stack-based, integrated off/on-grid, rack-mounted, wall-mounted and vertical types. RS-R51100 can be installed in 4 ways (wall-mounted, rack-mounted, stack-based and vertical).

RS-R51100A uses the self-developed LFP cells, achieving a service life of over 6,000 cycles with the self-developed BMS. Besides, a single unit is of 51.2V100Ah, with a rated capacity up to 5.12kWh and supports 32PCS parallel connection to extend to 163.84kWh, easily adapting to the high-power demands. Besides, RS-R51100A is compatible with most inverters in power generation for own use, power backup and off-grid scenarios and has obtained many international certifications including IEC62619, UL1973, UN38.3, CE and UKCA.

Storage Inverter: TOPBAND TBE series inverter can meet the needs of grid-connected and off-grid systems at the same time and can realize bidirectional control of electric energy, with highly autonomous energy scheduling.

In addition, it is compatible with a variety of batteries, more charging/ discharging power options, and the off-grid switching time is less than 12ms, and the DC side is equipped with secondary surge protection as standard to provide continuous protection for safer electricity.

BMS for Industrial and Commercial Energy Storage:  It is a new generation of energy storage BMS independently developed by TOPBAND. It is mainly composed of BAU, BCU, BMU and related wiring harnesses.

The BMS can perform not only remote monitoring, OTA upgrade, big data analysis, security warning and other features through the T-smart cloud platform, but also charge and discharge management, active and passive balance management, and thermal management. In addition, this BMS can achieve more accurate and intelligent SOX estimation to extend the service life of the batteries.

Charging piles and EV chargers: TOPBAND provides various charging solutions, which are suitable for a variety of charging modes.

TOPBAND’s charging piles and wall-mounted chargers are equipped with excellent safety protection, which can well achieve protection against short circuits, overcurrent, overvoltage, thunder and lightning and electric leakage.

As an innovative leader in the new energy industry, TOPBAND will continue to make progress in product and technological innovation, and work with partners to build a more intelligent and low-carbon world!

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