hyperTunnel | June 14, 2022
hyperTunnel, the British underground construction innovator, has received a financial investment from VINCI, a global leader in concessions, energy and construction businesses. The funds will be used for business expansion and to further develop and test hyperTunnel's revolutionary construction method in practical situations.
The deal further strengthens hyperTunnel's connections with VINCI Construction technical departments. hyperTunnel recently joined VINCI's innovation platform Leonard as a member of its start-up accelerator programme, Catalyst. hyperTunnel also won the prestigious annual Construction Start-up Competition in Miami last year, which Leonard co-organises with other sector heavyweights such as Ferrovial and Cemex Ventures.
"hyperTunnel's technology can be truly game-changing when it comes to improving the safety and sustainability of underground construction projects," said Guillaume Bazouin, Head of Start-up and Intrapreneurs programs at Leonard. "It strongly aligns with our goals of rapidly responding to the climate emergency by enabling technological advances that have a substantial environmental impact. hyperTunnel also boasts exceptional leadership and engineering teams, and we are looking to support their great success in the near future."
VINCI and Leonard are real experts when it comes to construction innovation, so to get their backing in such a concrete and substantial way means we must be doing something right. They can see the huge potential of the technologies we're developing, and they share our passion for improving how the world works. We're excited to see what we can achieve together over the coming months."
Jeremy Hammond,hyperTunnel co-founder
Aquaa Partners acted as exclusive financial adviser to hyperTunnel on the transaction.
Last week, the European Innovation Council (EIC), Europe's flagship innovation programme to identify, develop and scale up breakthrough technologies and game-changing innovations, selected hyperTunnel to receive funding of 1.88 million Euros under its EIC Accelerator scheme. The funding will be used to complete the development of hyperTunnel's advanced swarm robotics underground construction platform.
hyperTunnel is a deep tech scale-up developing a revolutionary methodology for tunnels and underground schemes substantially faster, safer, more economically and more environmentally friendly than current techniques. hyperTunnel uses a unique combination of proven technologies from diverse industries – digital twins, robotics, 3D-printing and digital underground surveying, supported by AI and VR – to redefine possibilities in tunnel construction, enlargement, monitoring and repair.
Founded in 2018, hyperTunnel employs 40 people located at its Basingstoke headquarters, and outdoor learning environment (the hOLE) and Geolab in the North Hampshire Downs.
In 2021, hyperTunnel announced a contract with Network Rail. hyperTunnel has received a string of awards and funding of 1.88 m Euros from the European Innovation Council (EIC)'s EIC Accelerator scheme. hyperTunnel was recently picked by the government's Innovate UK agency to join its Global Business Innovation Programme. It won Startup of the Year at this year's Construction Technology Awards; was highlighted as a Top 50 Contech Startup and among 10 winners of the global Construction Startup Competition.
Material Bank | June 28, 2022
The Adobe Experience Maker Awards has named Material Bank, the world’s largest marketplace for architectural, design, and construction materials, as the winner in The Disruptor category of its 2022 awards program, designed to recognize individuals, companies, and teams creating the most game-changing, innovative, and impactful customer experiences using Adobe Experience Cloud solutions. The awards celebrate leaders in their respective industries that deliver personalization at scale, enable seamless customer journeys, and drive business growth.
The 2022 Adobe Experience Maker Awards featured 13 global categories, with winners that include The Home Depot, Yahoo, Verizon, among others. The Disruptor category recognizes a company that has reimagined the commerce experience for B2C and B2B customers by driving growth across multiple sales channels, brands, and geographies.
“Adobe’s technology has supported our vision of transforming the way the architecture and design industry works by removing the friction that exists when searching and sampling materials. We are thrilled to have received this extraordinary award alongside some of the best, most future-forward companies in the world and to be recognized for the innovative ways in which we are using Adobe solutions.”
- Adam I. Sandow, Founder & CEO of Material Bank.
Material Bank was nominated for the award by Imagination Media, certified Adobe Partner agency that develops custom e-Commerce solutions. At the awards ceremony, Adobe recognized Material Bank for creating dynamic, personalized experiences from its extensive product catalog of almost 500 brands, thousands of SKUs, and a content database with more than 27 million unique assets. Adobe’s sophisticated technology helps to power Material Bank’s revolutionary platform that simplifies the complex process of material searching and sampling and connects thousands of design professionals to hundreds of brands.
This award follows Material Bank’s recent recognition as one of Business Insider’s Hottest Proptech Startups and Forbes’ Best Startup Employers. Material Bank has experienced extraordinary industry adoption and growth since its 2019 launch and continues to provide powerful solutions that drive the design industry forward.
About Material Bank-
Material Bank is a marketplace for design professionals and brands in the architecture and design industry, providing the fastest and most sustainable way to search, sample, and specify materials. Named as one of Business Insider’s Hottest Proptech Startups and Forbes’ Best Startup Employers, the revolutionary platform powers complex searches across hundreds of brands in seconds. Samples ordered by midnight (ET) are delivered in a single box by 10:30 AM the next day. With a rapidly growing community of members, Material Bank has changed the way material manufacturers and brands connect with the architecture and design industry.
Dover | July 06, 2022
Dover (NYSE: DOV) announced today that it has completed the previously announced acquisition of Malema Engineering Corporation ("Malema"), which will become part of the PSG business unit within Dover's Pumps & Process Solutions segment.
Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of over 25,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV."
XCMG | June 07, 2022
XCMG is ranked among the top three original equipment manufacturers (OEMs) in the world for the second consecutive year, according to the Yellow Table published by International Construction Magazine, a subsidiary of global construction media company KHL Group. Furthermore, XCMG's aerial work platform also ranks fifth worldwide in the Access M20 Manufacturers list.
XCMG has performed well in other global performance indicators, with mobile canes and horizontal directional drilling ranked first, tower cranes ranked second, truck-mounted cranes and road machinery ranked third for the first time, mine surface excavation equipment ranked top five, and complete sets of piling machinery and concrete machinery ranked first. XCMG's excavation equipment ranks second in China and sixth in the world and has exceeded 200,000 units in production and sales.
Additionally, XCMG's has made the industry's first position of lifting fire trucks and boom-type aerial work platforms more stable, improving profitability. Revenue for small construction machinery and forklifts increased by 50% and 258% respectively year-on-year. XCMG's new maintenance base is also in operation, with the asphalt station and chassis maintenance products ranking among top two in the industry.
Not only has XCMG's operating income reached a record high, the revenue balance across different product categories has also become more even."
Wang Min, CEO and Chairman of XCMG
Internationalization of markets
In 2021, despite obstacles presented by the pandemic, XCMG expanded to overseas markets and achieved export revenue exceeding RMB 13 billion, a year-on-year increase of more than 90%.
Other international achievements also include investing USD 99 million in North American market expansion, winning a contract for a large order of cranes worth RMB 100 million in Asia-Pacific, deploying almost RMB 200 million of large-scale open-pit mining equipment to Africa, supplying 500 excavators to Southeast Asia and delivering over 100 aerial work platforms to North America.
Additionally, XCMG Brazilian manufacturing base is making breakthroughs in the South American construction machinery market. In 2021, its production and sales volume saw a more than 200% year-on-year increase and its operating scale increased by 198% year-on-year. "The development goal of our Five-Year Plan is to ensure that income from internationalization is no less than 40%," Wang added.
Driving industry change
As a world leader in the construction machinery industry, XCMG's vision is driven by long-term investment and high-level innovation in research and development into the technology surrounding its equipment.
In recent years, XCMG has continued to strengthen its innovation capacity and develop leading scientific and technological research. Among its products are the world's largest tower crane XGT15000-600S, the world's largest rear-drive mining dump truck DE440, super-large mining grader GR5505, and domestic tonnage loader XC9350, which form part of its extensive catalog of high-quality machinery.