ENGINEERING TECH

Surna Cultivation Technologies Signs Four New Engineering Contracts for Grow Operations Across the United States

Surna Cultivation Technologies LLC | February 28, 2022

Surna Cultivation Technologies Signs
CEA Industries Inc. (NASDAQ: CEAD) subsidiary, Surna Cultivation Technologies LLC, a leader in controlled environment agriculture (CEA) systems engineering and technologies, was recently awarded four engineering contracts for indoor farms across the United States.

“I am proud of how our team continues to execute toward our strategic vision. Our strength comes from every team member’s high expectations for our future.”

-Tony McDonald, CEA Industries Chairman and CEO

Surna has seen an increase in cultivation facility owners’ propensities to work with its engineering teams earlier in their projects. By being involved earlier in the process, Surna’s engineers can provide a holistic system approach guided by the project’s needs and facility constraints. These contracts indicate this correlation, and further validate Surna’s expanded product offerings and strategic initiatives announced last year.

“Historically, cultivators have often decided on a particular manufacturer for their HVAC technology, even before engineering has started, With more system choices available from a single source through Surna, our clients can freely explore a variety of CEA climate control technology options, working with our engineering team to select the one that best serves their interests."

-Kenneth Loshelder, P.E., Surna’s Director of Engineering and Field Services.

About CEA Industries Inc.
CEA Industries Inc. (www.ceaindustries.com), is home to industry leaders in controlled environment agriculture, with complementary and adjacent companies added to its portfolio when aligned with the company’s growth initiatives. As the global environment for indoor cultivation continues to grow, CEA Industries was formed to embrace companies that support these ecosystems.

Headquartered in Louisville, Colorado, CEA Industries knows that growth is a team sport. Through future partnerships and mergers and acquisitions, both financial and strategic, CEA Industries will continue its pursuit of companies that bring accretive value to its customers and investors.

About Surna Cultivation Technologies
Surna Cultivation Technologies (www.surna.com), is an industry leader in CEA facility design and technologies. We provide full-service licensed architectural and mechanical, electrical, and plumbing (MEP) engineering services, carefully curated HVACD equipment, proprietary controls systems, air sanitization, lighting, and benching and racking products. Our team of project managers, licensed professional architects and engineers, technology and horticulture specialists and systems integrations experts help our customers by precisely designing for their unique applications. Through our partnership with a certified service contractor network, we provide installation and maintenance services to assist in a smooth build-out and optimal facility performance. We have been providing solutions to indoor growers for over 15 years and have served over 800 cultivators with over 200 of them being large, commercial projects.

Headquartered in Louisville, Colorado, we leverage our experience in the industry to bring value-added solutions to our customers that help improve their overall crop quality and yield, optimize energy and water efficiency, and satisfy evolving state and local codes, permitting and regulatory requirements.

Spotlight

When industrial robots were first introduced, many people feared they would take our jobs. In fact, one robot can do the work of more than 5 people. By 2025, the number of robots in the United States could quadruple, taking over even more of the labor that was once reserved for humans.


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ENGINEERING TECH

Linesight's Commodity Report Shows Volatility in Construction Material Prices to Remain in 2022

Linesight | May 02, 2022

Linesight, a global construction consultancy firm, expects prices for construction commodities to remain high and volatile in 2022, despite a predicted stabilization in the market many thought would come to fruition in Q1. Leading up to the end of 2021, many believed the pandemic-related supply chain issues would begin to ease off and allow for a stabilization of the market, but the Russia-Ukraine crisis has deeply affected the situation; both directly, due to the primary production of specific materials stemming from those countries, and indirectly, due to the conflict's overall effects on the global supply chain. Despite the prevalent risks at play stemming from the ongoing conflict and the materials pricing and availability issues these risks are likely to impose on the market the US construction industry is expected to grow in 2022 by 4.5%, according to the US Bureau of Economic Analysis. This recovery in the construction industry is anticipated to be primarily fueled by an acceleration of activity within the residential sector, which will only drastically increase the demand for the materials needed in that sector, most importantly concrete, cement, and other aggregates, further driving up the prices. Other contributing factors to the expected recovery include a rising demand for new buildings and infrastructure in the life sciences, high tech manufacturing, and public infrastructure projects. In 2022, with prices and availability for essential construction materials like copper, lumber, steel, and cement continuing to remain unreliable, and directly impacting construction output, the total construction output for the US in 2022 will likely end up around $1.672 trillion. This would represent a year-over-year gain of 4.5%, after 2021 saw a total construction output of $1.599 trillion. Further findings from Linesight's first-quarter Commodity Report and price forecast, which is based on interviews with over 160 industry experts across the globe, include: Prices for lumber saw the largest quarter-to-quarter price increase from 2021 Q4 to 2022 Q1 for the commodities tracked in the report, starting at $8.5/cu ft in Q4 of 2021 and rising 79.5% in Q1 of 2022. It is forecasted that lumber prices will continue to rise through 2022, mostly due to the increase in tariffs on Canadian lumber imports into the US, with an expected price of $16.1/cu ft. Raw material prices for steel also saw a significant quarter-to-quarter price increase from 2021 Q4 to 2022 Q1, with steel rebar rising 4.7% and steel flat rising 8.9%. This trend is expected to continue due to the Russia-Ukraine conflict, who are collectively attributed with around 60% of the US's imports of pig iron. With construction activity ramping up, demand for steel will be high in 2022. This will probably be reflected in the price of the materials, as Linesight’s report predicts a year-over-year increase of 12.2% and 17.2% on steel rebar and steel flat, respectively, with a forecasted price of $1,177/t for steel rebar and $2,182/t for steel flat in 2022. Just as the acceleration of construction activity has greatly affected the pricing of steel, it is also expected to do the same for concrete, cements, and other aggregates, with increased demand for infrastructure being another major factor driving the prices up. Cement and concrete already saw a 3% increase in pricing from Q4 of 2021 to Q1 of 2022, and it is forecasted that they will climb another 7.7%, with a projected price of $139/t for cement and $144/cu yd for concrete in the latter half of 2022. Other significant quarter-to-quarter price increases from 2021 Q4 to 2022 Q1 found in Linesight's first-quarter Commodity Report included welded mesh rising 32.6%, diesel fuel rising 17.1%, and asphalt rising 8.1%. “Despite the anticipated stabilization of materials costs, due to ongoing global issues, 2022 is expected to be another challenging year for the construction industry that will bring with it many disruptions, both in the supply chain and in the overall productivity of the industry, But due to these continued disruptions, we are beginning to see major strategic changes in approach to procurement and supply chain management to minimize risk on construction projects. Many are looking to overhaul their approach, with some projects moving away from the ‘Just in Time’ model, others looking at reducing waste within the supply chain, building out back-up plans rather than being reactive to disruptions, building stronger and more diverse supplier relationships, and engaging early with all stakeholders to put in place strategies geared towards greater certainty regarding cost and schedule.” Patrick Ryan, Executive Vice President, Americas, Linesight About Linesight Linesight is a multinational construction consultancy firm with over 48 years' experience, providing cost, schedule, program, and project management services to a multitude of sectors including Life Sciences, Commercial, Data Centers, High-Tech Industrial, Residential, Hospitality, Healthcare, and Retail. Linesight's specialist project teams, each with specific skills and experience, provide better predictability of project outcomes, faster project delivery, greater cost efficiency, and maximum monetary value for its clients.

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ENGINEERING TECH

Watchmaker Genomics Raises $40M Series A Financing to Accelerate Growth and Expand Clinical Sequencing Product Offerings

Watchmaker Genomics | June 06, 2022

Watchmaker Genomics, a life sciences company specializing in the development of high-stringency applications focused on the reading, writing, and editing of DNA and RNA, announced it had secured $40 million in an oversubscribed Series A, bringing total funding to date to $53.5 million. The round was led by Decheng Capital, with co-investment from Eclipse Ventures. Founded in 2019, Watchmaker established an enzyme engineering technology platform that leverages recent advances in computational design and directed evolution. The founding team has deep domain expertise in next-generation sequencing (NGS) and clinical oncology assay development and a track record of building successful life science companies, notably Kapa Biosystems, Enzymatics, and ArcherDx. The company launched its first product in 2020 and has since achieved profitability with 175% year-over-year revenue growth. With this Series A round of financing, Watchmaker plans to accelerate investment in its protein engineering platform to deliver a suite of new products that address the demands of clinical sequencing and support emerging applications in single-cell analysis, epigenetics, and cell-free DNA. In addition, the company will expand commercial channels and manufacturing capacity, making these product solutions more broadly accessible to the life science and genomics communities. "We are thrilled to partner with Watchmaker Genomics as the company enters its next phase of product innovation and commercialization. The experienced team at Watchmaker has already built a strong foundation, and we look forward to supporting their continued growth," said Decheng Capital Partner Victor E. Tong, Jr., who is joining the Watchmaker Board of Directors. "Watchmaker is developing tools and techniques that will unlock the future of genomics, both in the lab and the clinic. We are excited to partner with this world-class team as they pioneer the new frontier of genomics and ultimately, significantly improve how we treat diseases," said Eclipse Ventures Partner Justin Butler, who will join Watchmaker as a Board Observer. The additional financing will enable Watchmaker to more quickly scale our organization to meet the explosive demands of the genomics industry and help to further realize our vision of more personalized medicine and improved human health. Decheng Capital is a leading investor in life science and sequencing, and we are excited to have the firm lead our Series A. Watchmaker, Decheng, and Eclipse share a passion for building market-leading, impactful companies, and we welcome Victor and Justin to join us." Trey Foskett, CEO and Co-Founder of Watchmaker Genomics This news builds on the company's previously announced collaborations with Twist Biosciences, Element Biosciences, Singular Genomics, and Molecular Loop. Watchmaker will be showcasing its DNA and RNA NGS solutions for clinically relevant sample types and applications at the Advances in Genome Biology and Technology (AGBT) conference from June 6th - 9th in Orlando, FL. About Watchmaker Genomics Watchmaker Genomics applies advanced enzymology to enable breakthrough applications for the reading, writing, and editing of DNA and RNA. The company combines domain expertise in protein engineering with large-scale enzyme manufacturing to address the demanding quality, performance, and scale requirements of high-growth clinical genomics applications. Watchmaker's product portfolio includes enzymes and kits for next-generation sequencing library preparation, synthetic biology, and molecular diagnostics. Based in Boulder, Colorado, the Watchmaker team brings decades of collective experience building successful life science companies, commercializing novel technologies, and advancing clinical genomics applications. Watchmaker partners directly with innovative life science companies, commercial sequencing providers, and pioneering research labs. About DeCheng Capital Decheng Capital, founded in 2012, is a leading investment firm providing capital and strategic support to early stage life science companies with revolutionary technologies and growth stage healthcare companies with a strong market presence. We are a group of dedicated professionals with complementary expertise who have outstanding track records of building highly successful companies globally. With over $2 billion in capital under management and support from some of the most prestigious LPs in the world, Decheng is poised to deliver superior returns for our investors and create value for our entrepreneur partners. About Eclipse Ventures With over $2 billion in assets under management, 70 portfolio companies, and a team of investors with deep expertise in technology, manufacturing, supply chain, logistics, healthcare and consumer products, Eclipse is one of the US' leading venture capital organizations. Its leadership team has the experience and deep expertise necessary to create and scale complex operations – with partners coming from industry giants, such as Flextronics, Tesla, Apple, Samsara, Intel and GE. Eclipse partners with entrepreneurs boldly transforming the essential industries that define and propel economies.

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ENGINEERING TECH

SpotOnSite: The Future of Facilities Management, Designed to Help Contractors and Facility Managers Save Time and Money

SpotOnSite | January 12, 2022

The construction industry currently has two imperative needs: Transparency & Technology. Two years spent in a pandemic brought important face-to-face meetings to virtual, saving everyone time while maintaining connections. The creators of SpotOnSite desired to bring the same brilliant efficiencies to property management and contractor maintenance by reducing the number of face-to-face meetings required to complete property repairs. SpotOnSite is a mobile application that connects work orders with contractor availability in order to reduce onsite visits, increase transparency between all parties involved, and improve efficiency when completing site inspections. What can SpotOnSite help manage? SpotOnSite identifies parking lot repairs, including: potholes, ADA hazards, exterior issues, tree removal or trimming, landscaping maintenance, roofing repairs, exterior lighting, and snow removal. It can also be used for the management of all types of facilities, such as commercial parking lots, golf courses, stadium venues, retail shopping centers, logistic centers, and more. What is the process when using the SpotOnSite app? With the help of satellite imagery, SpotOnSite is able to measure all aspects of a property directly from a mobile device. This allows for obtaining exact measurements of an area that needs a contractor's attention. Using this information, the highlighted area can be labeled and areas of concern become easier for contractors to properly analyze what’s needed and where. The app will also allow the addition of photos and/or videos to corresponding issues, thus providing clear explanations to take place without requiring additional face-to-face meetings. Can SpotOnSite help eliminate miscommunications? Designed to be a collaborative tool that helps ensure successful projects, SpotOnSite ensures less miscommunication and more efficiency. Sharing property inspections or issuing external links to individuals, outside of the network, further allows for a transparent process from when a project starts until its completion. The mobile application also allows managing your projects within your team by using the time-stamped and date comment log feature. With SpotOnSite, you can expect fewer change orders, more transparent communication, and a more efficient process from start until finish. For contractors, facilities managers, or anyone in the construction industry, this new technology will be an essential piece to generating more success for your business in 2022!

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ENGINEERING TECH

Schlumberger Announces Deployment of Reservoir Engineering Digital Solutions for Global Customer

Schlumberger | March 09, 2022

Schlumberger today announced an enterprise-wide deployment of the cloud-based DELFI cognitive E&P environment for ConocoPhillips. ConocoPhillips will use Schlumberger digital solutions enabled by the DELFI environment to bring its reservoir engineering modeling, data and workflows to the cloud. “This digital platform will drive workflow and data efficiency, enabling ConocoPhillips to meet their diverse reservoir engineering modeling needs worldwide, Expert teams from both companies will work closely together to integrate our cloud-based digital solutions and AI with ConocoPhillips’ reservoir engineering modeling and workflows.” Rajeev Sonthalia, president, Digital & Integration, Schlumberger Upon completion of the integration, ConocoPhillips reservoir engineers will have access to cloud-based, high-performance computing resources in the DELFI environment as well as Schlumberger’s reservoir engineering solutions including Petrel E&P software platform's Petrel Reservoir Engineering, INTERSECT high-resolution reservoir simulator, and ECLIPSE industry-reference reservoir simulator. About Schlumberger Schlumberger is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.

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Spotlight

When industrial robots were first introduced, many people feared they would take our jobs. In fact, one robot can do the work of more than 5 people. By 2025, the number of robots in the United States could quadruple, taking over even more of the labor that was once reserved for humans.

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