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Greensphere Capital seeks $500m for renewables in London IPO
 Greensphere Capital Plc is aiming to raise as much as USD 500 million (EUR 422m) from an initial public offering (IPO) in London to invest in sustainable infrastructure, including renewables.

The company on Thursday announced the initial placing and offer for subscription of up to 500 million shares at USD 1 apiece. It wants to list on the Premium Segment of the Main Market of the London Stock Exchange (LSE) by December 20. Numis Securities is the sponsor, broker and placing agent in the UK.

Greensphere is building a diversified portfolio of Sustainable Infrastructure Investments in energy transmission, distribution and storage, renewables, water, waste, sustainable agriculture and other sectors. Its focus will be on countries in the Organisation for Economic Co-operation and Development (OECD), but it may also invest up to 30% of its net asset value (NAV) in assets or businesses in non-OECD countries.

IPO DETAILS

The IPO will include a placing primarily targeted at institutional and professionally-advised private investors, and an offer for subscription available to UK investors. The deadline for receipt of application forms under the offer for subscription is December 14, while placing commitments under the initial placing are due on the next day. First admission of Greensphere stock and dealings are seen to start on December 20, 2017.

PORTFOLIO AND INVESTMENT POLICY

The company will be investing, directly and indirectly, in Sustainable Infrastructure Investments which mitigate against the risks of resource scarcity, input price and project life-cycle cost volatility, and climate stress.

Greensphere will actually maintain two investment portfolios -- a private one with unlisted Sustainable Infrastructure Investments and a listed one. The focus of both will be investments with “stable cashflow generation potential over the longer term, strong, creditworthy counterparties, and proven, experienced management teams and operators”, the company said.

The Listed Portfolio, managed by Ecofin, will contain liquid equity and equity-related securities of companies in the "Renewable Infrastructure Universe", listed or traded on one or more stock exchanges. The Listed Portfolio may be invested in limited partnerships (LPs), renewable infrastructure funds and closed-end funds which invest in income producing assets.

The "Renewable Infrastructure Universe" includes companies and businesses engaged in the production of renewable power, such as solar, wind, geothermal, hydro and biomass power plants, or the transmission, distribution and storage of energy. These would be companies based mainly in North America, Europe and Asia, but also in other geographies.

Greensphere said it will invest mainly in operational assets, but it may spend up to 30% of the NAV of the Private Portfolio on projects under construction or in development.

DIVIDENDS

In its first financial year, Greensphere will target a dividend of USD 0.03 per share. This is to grow to USD 0.05/share in the second financial year, and to USD 0.06/share after that. The company will target a total return, including distributed dividends and growth in the NAV per share, but excluding share price performance, of 10% to 12% per year on the issue price over the long term.

(USD 1 = EUR 0.84)

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Output: Greensphere Capital plans to raise $500m in a London IPO for investment into sustainable infrastructure such as renewable energy sources. The company will offer up to 500 million shares for $1 each, and is aiming to list on the Premium Segment of the Main Market of the London Stock Exchange by 20 December. The move will be sponsored, brokered and placed by Numis Securities. Areas that Greensphere plans to expand its portfolio into include renewables, energy transmission, distribution and storage projects, sustainable agriculture and related areas.


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US military group commits $100m to genetic extinction research
 A US military agency is investing $100m in genetic extinction technologies that could wipe out malarial mosquitoes, invasive rodents or other species, emails released under freedom of information rules show.

The documents suggest that the US’s secretive Defense Advanced Research Projects Agency (Darpa) has become the world’s largest funder of “gene drive” research and will raise tensions ahead of a UN expert committee meeting in Montreal beginning on Tuesday.

The UN Convention on Biological Diversity (CBD) is debating whether to impose a moratorium on the gene research next year and several southern countries fear a possible military application.

UN diplomats confirmed that the new email release would worsen the “bad name” of gene drives in some circles. “Many countries [will] have concerns when this technology comes from Darpa, a US military science agency,” one said.

The use of genetic extinction technologies in bioweapons is the stuff of nightmares, but known research is focused entirely on pest control and eradication.

Cutting-edge gene editing tools such as Crispr-Cas9 work by using a synthetic ribonucleic acid (RNA) to cut into DNA strands and then insert, alter or remove targeted traits. These might, for example, distort the sex-ratio of mosquitoes to effectively wipe out malarial populations.

Some UN experts, though, worry about unintended consequences. One told the Guardian: “You may be able to remove viruses or the entire mosquito population, but that may also have downstream ecological effects on species that depend on them.”

“My main worry,” he added, “is that we do something irreversible to the environment, despite our good intentions, before we fully appreciate the way that this technology will work.”

Jim Thomas, a co-director of the ETC group which obtained the emails, said the US military influence they revealed would strengthen the case for a ban.

“The dual use nature of altering and eradicating entire populations is as much a threat to peace and food security as it is a threat to ecosystems,” he said. “Militarisation of gene drive funding may even contravene the Enmod convention against hostile uses of environmental modification technologies.”

Todd Kuiken, who has worked with the GBIRd programme, which receives $6.4m from Darpa, said that the US military’s centrality to gene tech funding meant that “researchers who depend on grants for their research may reorient their projects to fit the narrow aims of these military agencies”.

Between 2008 and 2014, the US government spent about $820m on synthetic biology. Since 2012, most of this has come from Darpa and other military agencies, Kuiken says.

In an email reporting a US military-organised conference in June, a US government biologist noted that Darpa’s biotechnology program manager Renee Wegrzynhad said “the safe genes projects account [was] for $65m, but then mentioned with all other support in the room, it was $100m”.

A Darpa spokesman said that the figure was “a liberal, notional estimate” that included researchers at the meeting funded by Darpa under related efforts.

“Darpa is not and should not be the only funder of gene-editing research but it is critical for the Department of Defense to defend its personnel and preserve military readiness,” he said.

Darpa believes that a steep fall in the costs of gene-editing toolkits has created a greater opportunity for hostile or rogue actors to experiment with the technology.

“This convergence of low cost and high availability means that applications for gene editing – both positive and negative – could arise from people or states operating outside of the traditional scientific community and international norms,” the official said. “It is incumbent on Darpa to perform this research and develop technologies that can protect against accidental and intentional misuse.”

Gene-drive research has been pioneered by an Imperial College London professor, Andrea Crisanti, who confirmed he has been hired by Darpa on a $2.5m contract to identify and disable such drives.

Fears that the research could be channeled towards bioweapons were “all fantasy”, he said. “There is no way this technology could be used for any military purpose. The general interest is in developing systems to contain the undesired effects of gene drives. We have never been asked to consider any application not for the good of eliminating plagues.”

Interest in the technology among US army bureaus has shot up since a secret report by the elite Jason group of military scientists last year “received considerable attention among various agencies of the US government”, according to an email by Gerald Joyce, who co-chaired a Jason study group in June.

A second Jason report was commissioned in 2017 assessing “potential threats this technology might pose in the hands of an adversary, technical obstacles that must be overcome to develop gene drive technology and employ it ‘in the wild’,” Joyce wrote.

The paper would not be publicly disclosed but “widely circulated within the US intelligence and broader national security community”, his email said.

Output: US military group Defense Advanced Research Projects Agency (Darpa) will invest $100m in genetic extinction technologies, according to emails made public through freedom of information regulations. Species such as malarial mosquitoes and invasive rodents could be eradicated by using the technology. The investment makes Darpa the world’s leading funder of “gene drive” research. Some experts fear the research could have unintended ecological consequences, while others have raised concerns about potential military applications. The UN Convention on Biological Diversity is debating the introduction of a moratorium on such research next year.


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40% fall in footfall at branches leads to 680 staff cut at RBS
 Royal Bank of Scotland has joined Lloyds Banking Group in doing its bit to ruin Christmas for front-line facing staff, announcing plans to kill off 259 branches and lay off 680 staff.

The closure of a quarter of the RBS branch network is a response to dwindling customer footfall. The bank says that the number of customers using branches has fallen by 40% over the past three years, while mobile transactions have increased by 73%.

RBS has told 1000 staff that their jobs are at risk but that it expects many to be redeployed resulting in a total job loss figure of 680.

An RBS spokesperson says the branches lined up for the axe will pull down their shutters in six months time, "in order to ensure our customers have time to consider the right banking options for them".

This latest announcement comes on top of previous RBS branch closure programmes which resulted in over 500 branches being lost.

The news from RBS comes just days after Lloyds Banking Group announced plans to close another 49 branches with the loss of 99 jobs.

Labour union Unite has accused RBS of betraying local communities.

Rob MacGregor, Unite national officer says: “The Royal Bank of Scotland has decided to decimate its bank branch network. Now serious questions need to be asked about whether these closures mark the end of branch network banking. This announcement will forever change the face of banking in this country."

Output: Royal Bank of Scotland (RBS) has becomes the latest UK bank to cut its branch network, announcing that it will lay off 680 staff with the closure of 259 branches. The bank claims the closures are due to a 40% drop in footfall at branches over the last three years. The latest round of cuts is in addition to previous closure programmes that resulted in the loss of more than 500 branches. Following the news, RBS was accused of "betraying local communities" by labour union, Unite.


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East of England Co-op to sell produce after 'best before' dates
 A major retailer has become the first to start selling food that is past its “best before” date in a drive to reduce food waste.

From this week, the East of England Co-op – the biggest independent retailer in East Anglia – will sell tinned goods and dried food such as pasta, crisps and rice for a nominal 10p once they reach their best-before date. The offer will not apply to fresh and perishable foods, however, which carry a “use by” date indicating when a product is safe to eat.

The move by the retailer, which is independent of the Co-operative Group, follows a three-month trial in 14 stores that found that the 10p items generally sold within hours of being reduced.

Q&A What is the difference between ‘use by’ and ‘best before’ dates? Show ‘Best by’ or ‘best before’ date labels only refer to when food is at its best and tend to be used for quality control by retailers. For this reason it is perfectly safe to sell food at or after its ‘best before’ date. ‘Use by’ labels are more important as they indicate when a product is safe to eat, protecting consumers from potentially dangerous bacteria that could be in food after that date. Simplification of labelling is underway through new guidance from the Government’s waste advisory body Wrap, the Food Standards Agency and Defra, which advocates the use of only one date on a pack in order to reduce consumer confusion. ‘Display until’ labels have been phased out and food manufacturers are advised to select a ‘use by’ date only when there is a food safety reason – otherwise they should use a ‘best before’ date.

Was this helpful? Thank you for your feedback.

Despite concerted efforts to reduce food waste through the entire supply chain, the government’s waste advisory body, Wrap, says £13bn-worth of edible food is thrown out in Britain every year.

Wrap is overseeing a major simplification of labelling with consumers often unaware of the difference between a use-by and a best-before date.

The East of England Co-op hopes to save at least two tonnes of food from being wasted annually with the initiative.

As part of the Co-op Guide to Dating campaign, shoppers will be told “Don’t be a binner, have it for dinner!” and “It’s not nice to get dumped”.

“We are committed to reducing waste in our business and the Co-op Guide to Dating is one of many initiatives we have instigated to make the East of England Co-op as efficient as possible, reducing our impact on the environment,” said Roger Grosvenor, the company’s joint chief executive and head of its retail division.

“During our trial we found our 10p items went within hours of being reduced, sometimes quicker,” said Grosvenor. “The vast majority of our customers understand they are fine to eat and appreciate the opportunity to make a significant saving on some of their favourite products. This is not a money-making exercise, but a sensible move to reduce food waste and keep edible food in the food chain. By selling perfectly edible food we can save 50,000-plus items every year which would otherwise have gone to waste.”

The Food Standards Agency advises that products past their best-before date are safe to eat but may not be at the optimum quality intended by the producer. The products will remain on sale for a month past their best-before date.

The East of England Co-op has also launched a new “reduced to clear” policy, offering bigger discounts earlier in the day on foods nearing their use-by dates.

The 10p discounted food cannot be donated to charities such as food banks as they do not accept items past their best-before dates.

Output: The East of England Co-op, East Anglia’s largest independent retailer, will become the first business of its kind to sell food past its “best before” date in an attempt to cut waste. The tinned and dried produce will be sold for 10p. Fresh and perishable items will not be included in the initiative. The move follows a three-month trial carried out in 14 shops that found the 10p items typically sold within hours. The company hopes that the scheme will save a minimum of two tonnes of food waste per year.


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Univfy applies AI to personalise IVF treatments
 Univfy analyzes many factors in a patient’s fertility profile, such as age, body mass index, ovarian reserve test results, semen analysis, and clinical diagnoses. This is in order to give personalized probability of in vitro fertilisation (IVF) success. A secondary aim is to bring more transparency to the success and cost of IVF.

Moreover, by using Univfy patients can learn about the costs of IVF treatment and their probability of success after one, two or three IVF cycles. The platform, therefore, also helps couples to make better financial decisions.

To discover more about this combination of artificial intelligence and predictive technology, we spoke with the Chief Executive Officer, Dr. Mylene Yao.

Digital Journal: Thanks for the interview. What are the established methods for couples seeking to have children?

Dr. Mylene Yao: First, about 85 percent of couples in their 20s conceive naturally over a year if they’re trying every month. You can increase your chance of conceiving by timing sex around and in the 36 hours after ovulation.

Women who have risk factors such as past sexually transmitted diseases, irregular periods, certain birth defects, or medical problems that can impact fertility (like thyroid disease) should consult a fertility specialist regardless of her age, to determine if her fertility may be compromised and whether a specific treatment would improve her chances of having a baby.

Men who have risk factors such as undescended testes and past infection that can impact sperm production (such as mumps orchitis) should also consult a fertility specialist or urologist/andrologist. Often, the doctor will order a semen analysis to determine if there is male risk factor.

If the fertility doctor confirms that there are risk factors and the couple’s chances of natural conception is low, then he/she would normally recommend one or more treatment options. The exact treatment will depend on the cause of subfertility (a term used in the U.K.) or infertility (a term used in U.S.). For most couples, in vitro fertilization (IVF) is a highly effective medical treatment that significantly improves the chances of having a baby.

DJ: What alternative methods are there?

Yao: The treatment methods depend on the cause of infertility. Also, the age of the couple — especially the age of the woman — should be taken into account when deciding on the treatment method. As a woman ages, her ovarian reserve decreases, so if IVF is the most effective treatment for a women, you would not want to delay IVF treatment because the same treatment can give lower results if it is done later in life.

Some commonly used methods of fertility treatment (not necessarily “alternatives” as they are not applicable in every patient) are ovulation induction (if irregular ovulation is the only cause), intrauterine insemination (usually done as an alternative to IVF due to its lower cost), tubal surgery (if tubal factor were the only cause and the woman has good ovarian reserve), the use of donor sperm (if there is male factor infertility).

DJ: How does Univfy work?

Yao: Univfy is a predictive analytics platform that combines machine learning, artificial intelligence, and fintech to improve the patient’s experience. Most importantly, we help more women to succeed in having a baby from IVF by working with their doctors to help them afford several IVF cycles.

Many more patients can have a baby if they could afford to do more than one IVF treatment. Without the use of machine learning, much fewer patients actually qualify for refund warranty programs.

Univfy uses an IVF center’s own past data and outcomes to develop and validate a prediction model of IVF success. We then integrate the IVF success prediction model with the clinic’s IVF fee schedule to help fertility doctors offer special pricing programs that are designed to help more women afford several IVF cycles, if needed.

DJ: How does Unify help with the cost of IVF?

Yao: Univfy helps to connect the patient’s financial cost and her specific probability of having a successful treatment. Doctors using the Univfy platform report that the patient’s experience is dramatically improved by the level of transparency and accountability. Doctors want to provide transparency but in the past, without the Univfy PreIVF Report, it was technically not possible.

With the Univfy PreIVF Report, doctors can provide much more personalized counseling when supported by the Univfy PreIVF Report, which tells a patient her probability of having a baby from one, two, or three IVF treatments, the probability of not having a baby even after 3 tries, and the financial options that are available. Traditionally, medical counseling and financial counseling are conducted separately. However, patients who have to pay for IVF out-of-pocket need to understand their medical and financial risks and benefits in order to make an informed decision.

A pregnant woman David Roseborough / Creative Commons

DJ: How was the artificial intelligence developed?

Yao: The Univfy technology was originally developed by myself and Professor Wing H. Wong, at Stanford University as part of an academic research project. Univfy has licensed the technology and also developed new technology during its commercialization efforts, all under the Univfy global IP portfolio.

DJ: Which factors are assessed to help assess IVF success?

Yao: The Univfy PreIVF Report uses health data that are available from standard clinical evaluation by fertility doctors. Health data such as age, body mass index, ovarian reserve test results, clinical diagnosis, reproductive history, past use of fertility treatment and results, and semen analysis are used by the prediction model to compute the predicted probability of IVF success.

DJ: How have you assessed the predictive technology? Did you run trials?

Yao: Each prediction model that we provide to fertility doctors has been subjected to rigorous testing and validation, even much more than examples that we have published in top, peer-reviewed clinical research journals.

Since we are providing predictive technology to patients who have already been determined to have infertility and for whom doctors are already recommending IVF treatment. Univfy does not make the diagnosis or recommend the treatment), clinical trials are not applicable. Our goal is to help patients to be more informed about the IVF treatment that has been recommended to them and to be able to afford IVF, should they decide to take their doctor’s recommendations.

DJ: What has been the reception from the medical profession?

Yao: Fertility doctors are very happy with the Univfy PreIVF Report because the report has dramatically improved their patient’s experience. They feel that they can provide more personalized counseling and the level of transparency and accountability that their patients deserve.

DJ: How have patients reacted?

Yao: Patients very much appreciate having a very data-driven, validated report that is personalized to their own health data. We have heard very positive feedback from doctors using the Univfy PreIVF Report.

DJ: Which other areas are you working on?

Yao: Currently patients experience a huge financial barrier when seeking help from IVF treatment. We are working to expand our financial program to incur cost savings on medication and genetic testing so that more patients can access IVF and utilize genetic testing technology, which can be very beneficial for some patients. We’re hoping to develop a consumer loan program to help patients get their needed treatment sooner rather than later.

Output: California-based start-up Univfy is looking to personalise in vitro fertilisation (IVF) treatments by applying artificial intelligence and predictive technology to treatment decisions. Univfy's predictive analytics platform factors in variables such as age, body mass, semen analysis and clinical diagnosis to help improve both IVF success rates and cost transparency. Univfy operates by taking existing clinical data on a patient before integrating the success prediction model into a clinic's IVF fee schedule to produce more affordable pricing plans.


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Landlords, GetRentr build tool to monitor UK licensing changes
 NLA Licensing 365 allows landlords to monitor local licensing schemes in all UK postcodes for up to 16 properties, with alerts sent to them directly if the licensing status in an area changes.

The platform will alert landlords when new licensing schemes are being consulted on or due to be introduced and, importantly, whether their properties will be affected.

Richard Lambert, CEO of the National Landlords Association, said: “The number of licensing schemes in England has increased from just over 10 in 2010 to 67 schemes now, with a further 10 currently in consultation, so NLA Licensing 365 has been created to make life easier for all landlords.

This tool will help ensure you never miss important information about potential new licensing schemes, and that you can be prepared to make your properties meet any new licence requirements.

It also allows you to view the licensing requirements for prospective properties, which is beneficial for those looking to expand their portfolios into new areas where they may not be familiar with the local regulations.”

Orla Shields, CEO and Co-Founder of GetRentr, said: “Our mission is to use data and technology to ensure good agents and landlords can easily comply with regulation, rogue landlords are exposed and no tenant has to live in unsafe, substandard accommodation again. Our partnership with the NLA ensures we reach private landlords who may not use agents.”

For more information about NLA Licensing 365, go to www.landlords.org.uk/nla-licensing-365

Output: The National Landlord Association (NLA) has worked with proptech start-up GetRentr to create a tool that monitors changes and updates to landlord licensing schemes. NLA Licensing 365 notifies landlords of licensing changes in the postcodes on up to 16 properties and enables prospective buyers to view local regulations. GetRentr CEO Orla Shields said the app would also help in regulation compliance, could weed out rogue landlords and reach landlords who don't use agents.


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German fintech Deposit Solutions secures $20m
 Deposit Solutions, a German fintech company, has raised $20 million in a round led by e.Ventures and Greycroft, both existing shareholders.

The new funds will be used to grow the Hamburg-based company’s Open Banking platform for savings deposits for both B2B and B2C services, and to expand internationally. Its APIs allow banks to connect to the platform to build and offer deposit services. It has partnered with more than 50 banks.

“This investment round is a strong vote of confidence from our shareholders and allows us to further focus on our core mission, establishing Open Banking as the new industry standard for the deposit market,” said Dr Tim Sievers, CEO of Deposit Solutions.

The company acquired Berlin startup Savedo earlier this year to improve on the B2C side of its business, which has reached 85,000 retail customers to date.

“Deposit Solutions started to build its open banking infrastructure long before fintech even became a household name and has consistently pursued its vision of transforming the €10 trillion deposit market ever since,” added Andreas Haug, managing partner of e.Ventures, which was an existing investor and backed the company in previous rounds.

Output: German financial technology company Deposit Solutions has secured new investment of $20m to support growth of its Open Banking platform. The funds came from venture capital firms led by existing shareholders e.Ventures and Greycroft. The Hamburg-based company bought Savedo, a marketplace for savings deposits, earlier this year to strengthen its business to consumer operation. The extra funding will allow Deposit Solutions to expand its services internationally as it seeks to make its platform the industry standard for the deposit market.


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Shapeshifting metals could greatly improve aircraft efficiency
 Humanity may be divided on a great many issues, but most would agree that it would be very cool to have airplane wings made of shapeshifting metal. The geometry of those fabulous foils affects virtually every aspect of flight, and making them from metal that can change its shape in midair could make your journey smoother, safer, and more efficient.

Shapeshifting wings aren't new. The Wright brothers flew over the North Carolina sand dunes using a hip brace and wires to warp the Flyer’s cloth-and-wood wings. Modern aircraft achieve the same results—OK, much better results—with mechanically driven flaps, slats, ailerons, spoilers, elevators, and rudders.

“If you look at conventional aircraft technology, you have so many moving parts,” says Othmane Benafan, an engineer at NASA's Glenn Research Center. Those moving parts are essential—they are how pilots steer, reduce turbulence, take off, land, and basically do everything else besides glide aimlessly. But the actuators, cables, motors, lubricant, hydraulic gear, and other bits needed move those parts around take up weight and space—precious resources on any aircraft.

The alternative is to move those wing parts using shapeshifting metals. Or, as they’re known to engineers, shape memory alloys. “Parts made from shape memory alloys are typically 10 to 20 percent the size and weight of a conventional part,” says Jim Mabe, a shape memory alloy guru at Boeing. For an industry that spent $133 billion on fuel last year, anything smaller and lighter is exciting news.

Shape memory alloys are essentially reversible Shrinky Dinks. When heated to certain temperatures, they shrink, twist, and bend. Cool them off, and they return to their original shape. Hot, cold, hot—shape memory alloys can cycle back and forth millions of times without wearing out. All you need is the ability to generate heat or pull it from some other, already spicy hot part of the plane, like the engine.

Aircraft makers, researchers, and government agencies like NASA can use these metals to do more than just reduce fuel bills. Shape memory alloys can also be used to add moving parts to a plane, doing things that would cost too much in size and weight using conventional mechanics. For instance, quieting a jet engine's roar. Temperature activated fold-up wings would allow aircraft carriers to cram more fighters on deck. This tech might even quell sonic booms, opening the door to the revival of supersonic passenger jets like the Concorde.

Down Shape Memory Lane

Shape memory alloys were developed in the aerospace field, though not for flight, per se. In 1959, at the Naval Ordnance1 Laboratory, a researcher named William Buehler was developing materials for intercontinental ballistic missile nose cones that could endure the extreme temperatures and pressures of doing missile stuff like flying to the edge of space, then reentering the atmosphere. Buehler came up with an alloy of nickel and titanium that was not only strong and fatigue resistant but also super malleable at high temperatures. He discovered the alloy’s most surprising feature by purposely dropping bars of the stuff on his shop floor and listening to the thuds. (I know, these are the kinds of stories people should be telling STEM-shy kids.)

The cool bars made a very different noise than the bars still warm from the furnace, indicating to Buehler that the molecules could be in different orientations at different temperatures—not a common property of metals. Later one of his colleagues held his lighter under an accordion-like strip of the alloy. To everyone’s surprise it completely unfolded, indicating that the heated molecules were doing more than just expanding in response to the heat; they were completely changing the orientation of their bonds. These alloys change phase, but not from, say, solid to liquid. They’re changing from one solid phase to another—like ice turning into a different kind of ice.

Output: Constructing aeroplane wings from metal that changes its shape could significantly improve the efficiency of flights. Airline industry engineers are examining the potential for replacing the heavy hydraulics and mechanical parts needed to move wing flaps with what is known as shape memory alloys. These would be up to 90% smaller and lighter than existing parts, helping to save on weight and fuel costs. The metals can be made to change their shape by subjecting them to changes in temperature, but technical problems of controlling the effect remain, given the extreme changes in temperature that take place in flight.


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Facebook moves marketers to main Audience Insights service
 Facebook has long held a tight grip on what data advertisers can and cannot access. Now, it’s pulling some of the reins away from social media vendors as it shutters its Audience Insight API.

This week, Facebook quietly shut down its research tool, which allowed social vendors including Spredfast to build billion-dollar businesses by tapping into the social network’s firehose of data and crunch vast amounts of user information for marketers.

Audience Insights digs up aggregated demographic, interest and lifestyle data, including age, education levels, job titles, hobbies, family size, income and location.

Output: Facebook has said it will close its Audience Insights application programming interface by the end of the year, with the social vendors that used it being transferred to a different version of Audience Insights, which supplies data directly to marketers. The decision has divided advertisers, with some suspicious that the alternative version of Audience Insights, which has no intermediary, raises issues of unvetted metrics. Audience Insights aggregates user data in areas such as demographic, education, working life and location, and observers have suggested the restructure of Audience Insights will form part of an effort to find new revenue streams.


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UK walking and cycling targets could save 13,000 lives per year
 If the UK hits government targets for walking and cycling more than 13,000 lives and almost £10bn would be saved over the next decade, according to a new report.

The study from the transport charity Sustrans has found that meeting government plans in England and Scotland for an increase in walking or cycling would reduce deaths from air pollution by more than 13,000 in the next 10 years. It would also save almost £9.31bn.

Xavier Brice, CEO for Sustrans, said that at a time when road transport is “responsible for the majority of air quality limit breaches in the UK” it has never been more important to reduce the number of “motorised vehicles on our roads”.

“The new findings reiterate that walking and cycling have a huge role to play in tackling the air quality crisis that causes tens of thousands of premature deaths every year. If we are to make a major modal shift, we need to provide a network of direct protected cycle routes on roads in addition to quieter routes across the UK.”

Air pollution contributes to around 40,000 premature deaths a year in the UK. The government is being taken to court for a third time over the levels of toxic air in cities across the UK caused by nitrogen dioxide, mainly from diesel vehicles. Many towns and cities are now also failing WHO guidelines for the most damaging type of air pollution known as PM2.5, 45% of which comes from car tyre and brake wear and would not be reduced by a move to electric vehicles.

A report last month revealed that every area in London exceeds World Health Organisation limits for PM2.5.

Brice said: “We are urging governments at all levels to include funding for walking and cycling infrastructure in their clean air plans and the UK government to prioritise investment in active travel as part of wider urgent action to make air safe again.”

Sustrans, in partnership with the environmental consultancy Eunomia, found that if targets to double journeys by bike and increase walking by “300 stages per person” in the England’s Cycling and Walking Investment Strategy were met, this would prevent more than 8,300 premature deaths from air pollution. This would result in £5.67bn in benefits over 10 years through the avoided costs associated with poor air quality, including NHS treatment in hospital for respiratory diseases.

Equally, if the aim of 10% of everyday journeys to be taken by bike set out in Scotland’s Cycling Action Plan was realised, it would save nearly 4,000 premature deaths and £3.64bn.

Sustran said the gains would be even bigger if wider benefits to health and wellbeing from increased physical activity were included.

Twenty-nine local authorities in England that are breaking legal air quality limits now have to pull together clean air plans by November next year.

Ann Ballinger, an air quality expert at Eunomia, said: “This is the first time that Sustrans’s data has been used alongside public health data to understand what impacts walking and cycling schemes have on an individual’s exposure to air pollution.

“Our analysis suggests investment in cycling and walking has considerable potential to improve local air pollution. We believe this innovative model could be of considerable value in supporting local authorities and government as these bodies consider options to tackle the air pollution emergency at a local level.”

Output: Over 13,000 lives and almost £10bn ($13.5bn) could be saved over the next decade if the UK can achieve government cycling and walking targets for England and Scotland, according to research by transport charity Sustrans and environmental consultancy Eunomia. The study shows that cycling and walking could have a huge impact on reducing air pollution in the UK, which contributes to 40,000 premature deaths in the country each year. The UK government is currently being taken to court for the third time in relation to toxic air levels in the country’s cities, primarily due to emissions from diesel vehicles.


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P&G's Gillette targets students in Malaysian careers app
 P&G Gillette is forking out RM2.4 million on its digital innovation in marketing towards Malaysian Millennials via its P&G First Real Job and Ideas campaign which runs in both 2017 and 2018. The programme which partnered the Malaysian Youth Community (MYC), aims to be a one stop connection with Malaysian universities through the mobile app called, MYC! Digital Student News and Income (MYC! mobile app).The collaboration centres around the Millennials oriented, MYC! mobile app which is a news, ideas and digital reputation platform. It also aims to enable young Malaysians to start gathering and sharing news, as well as, to start building their digital reputation.Youths can take part in student jobs (gig economy) and build their reputation digitally, via providing peer reviews of brands and employers; and in turn receive cumulative ratings given by different employers. The platform enables an open market review of individual youth work attitudes, where their resume or digital reputation is built through micro jobs with real employers.The brand said this benchmark program has enabled many innovative milestones for marketing and consumer empowerment, such as the first marketing program to track mass consumer trials nationwide. This includes knowing each individual consumer in a mass scale setting and re-engaging these consumer with personalised offers as part of the ongoing Millennials community.P&G Gillette added that this is in support of the coming age of the self-customisation of career paths, wish to connect and hear from young Malaysians in universities on how they define their first real job or first real ideas via this campaign. Millennials are currently the most vocal participants in developed economies via their social media and knowledge economy involvement.Meanwhile, the first 100,000 Malaysian university young men that participate will receive a first real job grooming kit in the form of a Gillette Mach 3 razor kit. Utkrash Mohan, brand operations head of P&G Malaysia, Singapore and Brunei, said “Gillette has always been at the forefront of innovation to empower our consumers around the world to achieve their best look so they can feel confident. It is this belief that has led us to partner with MYC for the second year in a row on the ‘First Real Job’ program to groom and bring the students one step closer to career-readiness."In 2016, Mohan said, the brand reached out to 50,000 young men in universities throughout Malaysia. This year, its objective is "to touch and improve the lives of 100,000 young Malaysian men in the form of a free Gillette Mach 3 razor kit to ensure they look and feel their best to kick-start their career”.Young Malaysian women will receive other supporting grooming gifts contributed by partners who have engaged and joined in the program.MYC!'s CEO Jason Ko (pictured, fourth from right) said, “Through MYC! app, a student news and lifestyle income application, Malaysian students will be able to participate in a two-way information transaction, by submitting their first real ideas, share peer to peer product reviews, youth news and also participate in student micro jobs. The platform is based on the principle of crowd sharing to create a better millennial economy of the future.”The MYC! App and website is essentially a student lifestyle media and information hub that enables and empowers student income and lifestyle; with information such as student news trends, ideas, internships, scholarships, student income opportunities and more. All these useful information are delivered to Malaysian students by their chosen fields of studies or interest or by university, where possible.P&G recently announced in April 2017, that it would be investing in over US$100 Million (over RM410 million) over the next five years via its E-Center, the first of its kind outside the United States. The E-Center will be pivotal to the company’s undertaking of end-to-end digital innovation across three core areas: supply chain management, e-analytics and e-business.

Output: Procter & Gamble (P&G) brand Gillette is partnering with the Malaysian Youth Community in the MYR2.4m ($590,000) P&G First Real Job and Ideas marketing campaign aimed at the nation's students. Using the MYC! Digital Student News and Income app, P&G offers Malaysian university students a platform where they can share news and ideas, as well as post reviews of products and construct a digital reputation via micro jobs. P&G said the programme supports the "self-customisation of career paths".


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Fintech innovation hub ALL Work & Social opens in Manchester
 The first venue from ALL Work & Social launched in Manchester last night, with plans for further workspaces to open in Leeds and Manchester.

Aimed at tech and digital disrupters, they’ve been described as “modern-day social clubs” with co-working spaces, events facilities and hospitality.

XYZ Works & Social is the first development, founded by Allied London’s Michael Ingall, he described its ethos as "an independent and boutique space that will uniquely connect all its members to each other, businesses on Spinningfields and the wider Manchester community.”

“We all work in a very different, more social way now, and it will continue to change rapidly over the coming few years,” added Allied’s group property director, Chris Reay.

“We are accepting members on 4 simple membership levels; social member of our lounge on the ground floor, social member of our hub on level 1, a resident desk membership or a private studio membership. Members can choose what suits them best, it’s easy to sign up and they’re not tied into a long contract.

“Members will have access to our events campaign, discounts, VIP treatment and our app which will allow profiles, social feed, meeting room bookings, coffee orders and events bookings."

The venue features “The Vault” which will be a dedicated fintech space. There will also be hot-desking, private suites and fixed desks. Finally a Level 7 Members Club, which will have dedicated onsite catering.

Output: Flexible office space provider Allied London has launched XYZ Works & Social in Manchester under its ALL Works & Social brand. Described by Allied London’s Michael Ingall as an "independent and boutique space", the location, which includes a dedicated fintech area called the Vault, is aimed at technology and digital disrupters in the city. Ingall said the workspace offered four types of membership, from the ground-floor lounge to private studio membership. Allied plans to open more sites in Manchester and Leeds.


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Breakthrough creates ammonia with 60% yield at room temperatures
 Scientists in Australia have produced ammonia in up to 60% yield at room temperature and pressure by electrochemically reducing nitrogen gas from the atmosphere in ionic liquids. This technique improves on previous approaches to nitrogen reduction, with exciting prospects for renewable energy.

As a key source of fertilisers, ammonia is one of the most important chemicals worldwide. Its use as an easily transportable energy store and source of hydrogen for renewable energy is also gaining traction. For over a century, ammonia has been industrially synthesised by the Haber–Bosch process. But this is energy intensive, requiring high temperature and pressure, and produces around 2% of global carbon dioxide emissions. A sustainable alternative would solve lots of problems.

Electrochemically reducing N 2 to NH 3 is a possibility. Although scientists have investigated various electrodes, catalysts and conditions, their current-conversion (or faradaic) efficiencies are impractically low: less than 7% for processes involving ambient conditions. In 2014, Stuart Licht’s team at George Washington University in the US reported a way to produce ammonia directly from electricity, air and steam with an efficiency of 35%, but this involved steam in a molten hydroxide electrolyte and temperatures of 200–250°C.

Now, Doug MacFarlane’s team at Monash University has almost doubled this. Key to the success of their method is the use of certain hydrophobic ionic liquids that have very high solubility for nitrogen, but do not absorb much water. This is important in preventing the preferential reduction of water to hydrogen that occurs in the same region of potential. Typical electrolytes with a much higher aqueous content and limited solubility for nitrogen are adversely affected by this competing process. That is not to say that the ionic liquid-based approach does not produce hydrogen: it is in fact the only byproduct.

MacFarlane thinks the significance of their process is enormous: ‘Ammonia is readily transportable and can be used directly as a fuel, or cracked back into nitrogen and hydrogen for use in fuel cells.’ The hydrogen also represents a form of stored energy and MacFarlane says it is important to consider how they can separate and use the byproduct productively.

Joshua McEnaney, part of Jens Nørskov’s group at Stanford University in the US that recently reported an alternative route to ammonia production centred around a lithium cycling strategy, finds the high efficiency and mild conditions encouraging. ‘It will inspire researchers to continue to build upon the efficiencies and yields of this work and related systems,’ he says.

Output: In a potentially highly significant development, scientists at Monash University in Melbourne, Australia have developed an ionic liquid-based way to produce ammonia from nitrogen gas, with a yield of 60% and a sole by-product of hydrogen. Doug MacFarlane of the university revealed the key to the room temperature and pressure process was the use of hydrophobic ionic liquids that did not produce water, and said: “Ammonia can be used directly as a fuel or cracked back into nitrogen and hydrogen for use in fuel cells".


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Xiaomi follows Huawei by incorporating AI into its smartphones
 The tech industry is replete with concepts and prototypes as well as real products utilizing Artificial Intelligence for various purposes. The smartphone industry has been the latest port of call with Huawei releasing its 2017 flagship Mate 10 models as well as the Huawei V10 with an AI chip. Xiaomi has now revealed that it plans to incorporate AI technology into its smartphones as from next year. The disclosure was made by CEO Lei Jun during a speech delivered at the 4th World Internet Conference held today in Wuzhen, China.

Lei Jun’s was reportedly titled “Opportunities for Xiaomi in the AI Age.” During the speech, the Xiaomi CEO stated that in the next 10 years, the company’s core strategy would focus on Artificial Intelligence. He also disclosed that the next generation of Xiami phones expected to be released in 2018 will incorporate Artificial Intelligence. However, no specific time frame was revealed as to when the AI smartphones would start launching. But the tech giant is expected to debut with the Xiaomi Mi 7 packing a Snapdragon 845 chip in the early part of next year. The flagship Mi 7 could very well feature the technology as it would most likely be featured first on a flagship model.

Read Also: Xiaomi Enters The Smart Speaker Race With The Mi AI Speaker

Xiaomi first released an AI product in July with the launch of the Mi AI Speaker. The company is in an advantaged position to develop its AI technology as it already has a vast smart IoT platform and the global user base of the MIUI ROM keeps growing, presently said to have exceeded 300 million users. Xiaomi’s cloud service is also said to house over 200PB data. Lei Jun sees internet companies becoming Artificial Intelligence companies in the near future and so believes Xiaomi should actively embrace AI technology now.

(source)

Output: Chinese smartphone manufacturer Xiaomi has announced plans to incorporate artificial intelligence (AI) technology into its smartphones as of next year. Xiaomi CEO Lei Jun made the announcement at a conference in Wuzhen, revealing that the company would make AI its focus over the next 10 years. He also expressed the belief that many internet companies will transition into AI companies in the near future. The news follows Huawei's announcement that it will make use of AI in its forthcoming designs.


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Redrow Show home unveiled for 59-flat Chiswick development
 Welcome to ChiswickW4.com

The site for Chiswick residents - and anyone planning to buy in the area, eat or shop in W4.

If you are viewing this text, your browser lacks the ability to read frames. Although you will need a browser that can handle frames to use our site, you can get an idea of the site by following some of the links below.

Our main sections are:

SERVICES

A comprehensive listing of anything you might need in the Chiswick area. Home Improvement section lists carpenters, builders, roofers and loft conversions, gardeners, Chiswick electricians, bathroom and kitchen installers and painters and decorators

We also have the most comprehensive listings directory for businesses in Chiswick.

There are more Chiswick Plumbers listed here.

INFORMATION

A one-stop information database on Chiswick, with schools and local councils. Our Calendar lists events in Chiswick.

ENTERTAINMENT/FUN

A listing of things to do, where to eat in Chiswick. A guide to Chiswick Restaurants.

NEWS

We cover local news in depth and have a large archive of Chiswick news stories. To keep up to date sign up for our newsletter . We also have information on traffic and travel, weather and Chiswick tides.

PROPERTY

When you're seriously looking to buy or let, you need to know EVERYTHING that's available. That's where we make the difference. We already have over 1000 houses for sale or to let in Chiswick, listed on our database, which is searchable by price/rent and number of bedrooms.

For more on our aims, click here.

We also have sites in other parts of London such as Wimbledon, Fulham and Wandsworth.

Output: Redrow has opened a show home for a 59-apartment development it's building on the site of a 1960s office block at 500 Chiswick High Road in west London. The development will include seven penthouses and five townhouses. The three-bedroom show apartment was designed by interior design company Hatch Interiors.


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Washington State Democrats seek a carbon tax
 Washington is just one of a growing number of states poised to introduce or advance new, stricter, or more expansive carbon fees or cap-and-trade programs in upcoming legislative sessions. Collectively, the measures could help to cut U.S. emissions by at least hundreds of millions of tons in the next decade, and provide critical counterpressure on the Trump administration’s efforts to unravel climate efforts like the Paris accords and Clean Power Plan (see “Exiting Paris, Trump Cedes Global Leadership on Climate Change”).

Some of these same states and legislators have proposed similar programs before, only to see them fail for lack of legislative or public support. But the White House’s regressive environmental policies, Democratic gains in the November election, and shifting public sentiments have improved “the prospects for actually passing some of these,” says Michael Wara, senior research scholar at the Stanford Woods Institute for the Environment.

Among other pending or forthcoming proposals:

In Massachusetts, which is under a judicial order to increase emissions reductions, Mike Barrett, a state senator, introduced a carbon pricing proposal in the Joint Committee on Telecommunications, Utilities and Energy, which must make final recommendations on bills by February. Barrett’s measure would eventually charge $40 per metric ton of carbon emissions or equivalent pollution, but return all of the funds to citizens and businesses through subsequent tax rebates. It exempts the electricity industry, since that’s already covered under the state’s participation in the Regional Greenhouse Gas Initiative, a cap-and-trade program that includes nine eastern states.

Meanwhile, Massachusetts state representative Jennifer Benson introduced a carbon pricing proposal in the House that would also eventually charge both consumers and business a fee of $40 per ton of carbon emissions. The measure would return the vast majority of the funds to individuals and employers through rebates, but set aside around 20 percent for climate mitigation and adaptation measures.

Legislators in Connecticut, Rhode Island, and Vermont have also been considering carbon tax bills.

In August, the Regional Greenhouse Gas Initiative announced a draft plan to cut emissions another 30 percent between 2020 and 2030. That would eliminate at least an additional 130 million tons of carbon pollution.

New Jersey’s newly elected Democratic governor, Phil Murphy, has pledged to “immediately restore New Jersey’s place in the Regional Greenhouse Gas Initiative.” Governor Chris Christie withdrew the state from the initiative in 2011.

State regulators in Virginia also approved an emissions reduction proposal that would allow the state to join the Regional Greenhouse Gas Initiative.

At the recent United Nations climate talks in Bonn, Germany, most of the RGGI member states and Washington, D.C., announced a similar regional carbon pricing effort to cut emissions from the transportation industry.

This summer, several dozen legislators in Oregon introduced a statewide cap-and-trade program set to be heard in the 2018 legislative session. As proposed, it would be one of the few U.S. cap-and-trade programs to encompass sectors of the economy beyond the electricity industry. The system, which will apply to any entity that emits more than 25,000 tons of carbon dioxide or equivalent pollution per year, would feature an auction floor that ticks up over time coupled with emissions caps that steadily tighten.

Also this summer, California passed a law to extend its cap-and-trade program, which was to set to expire in 2020. The state had already linked its carbon market with Quebec’s, and Ontario officials said in April that the province will join as well. Meanwhile, Governor Jerry Brown has also discussed connecting California’s market with those of the European Union and China, which plans to roll out the world’s largest carbon market in the months ahead.

Many economists, including some prominent conservatives, argue that market-based mechanisms like cap-and-trade or carbon taxes are among the most effective means of lowering greenhouse-gas emissions.

Cap-and-trade systems allow companies to bid on a limited number of allowances for generating greenhouse gases, which decrease over time to reduce total emissions. Carbon taxes are direct fees levied on carbon-based products. In both cases, the impact can spill over to consumers in the form of higher prices. But the raised funds are generally funneled back to citizens, invested in climate projects, or spent on other government programs (see “Canada Moves Ahead on Carbon Taxes, Leaving the U.S. Behind”).

There are various trade-offs. Cap-and-trade programs create more certainty about the level of emissions cuts that will be achieved over time. Carbon taxes offer greater clarity about the price companies will have to pay, and are generally cheaper and simpler to administer.

Regardless of the particular approach, climate and energy observers say it’s encouraging to see so much gathering momentum at the state level, stressing that the measures provide crucial benefits beyond local boundaries.

Output: The US state of Washington may introduce a carbon tax after Democrats took control of the State's Senate during recent elections. A number of other states have proposed similar measures, but none have been successfully implemented, owing to a lack of legislative or public support. However, the Trump administration's removal of support for carbon reduction agreements has shifted the debate and made passing such measures more likely. The Washington State proposal hasn't been finalised, but proceeds would be likely to be applied to support renewable energy sources and infrastructure.


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'Internet of everything' is central to more efficient oil rigs
 Digitalization is emerging as a technological driver of change around the world and provides businesses with abundant opportunities for growth and monetary gain. While industries like manufacturing and healthcare have taken the digitalization world by storm, the oil and gas industry has been remarkably slow to adopt this new way of thinking.

It is true that oil and gas has been “digitalized” for some time. True digital transformation, however, now requires adoption of the Internet of Everything (IoE)— the networked connection of people, process, data and things—throughout the value chain.

Most of today’s digital initiatives in oil and gas are incremental rather than disruptive. Some offshore operators are taking a step forward to make improvements in technical or operational capabilities, but many are not fully embracing the power digitalization can provide. Numerous benefits such as increased cost savings and signiﬁcant improvements in collaboration, productivity, maintenance and revenue can be realized through digitalization if more offshore operators would take the technological plunge.

According to a January report by Accenture on digitalization in the oil and gas industry, the primary barriers to change or adoption include:

Regulatory frameworks that are struggling to adapt to a new era of data sharing along value chains;

A lack of standardization in data coming from sensors;

An inability to share information across the ecosystem; and

The challenge of recruiting millennials to replace an aging workforce.

Digital collaboration technologies provide oil and gas companies, and specifically offshore engineers, a multitude of benefits. These include the ability to digitalize workflow and planning processes; optimize decisions between experts, disciplines and companies involved in the life of field perspective; and visually identify operational activities and maintenance events once projects are online.

Through digitalization, all offshore field projects can be easily understandable through online 2-D/3-D visualizations rapidly created or replicated using existing field layouts with a 3-D asset library and immediately monitored and reported to real-time operating levels. It also can offer an instant view of the cost consequences due to a required action or change to a field.

For offshore operators subsea and topside assets are their most valuable players. The foundation of these structures comprises years of knowledge, engineering talent and commitment. The technology-savvy world is moving to a digital environment. For the oil and gas industry to respond to this trend, offshore assets must reside there too. Offshore operations will dramatically change when oil and gas companies embrace and upgrade their digital capabilities, thus improving the way they collaborate with and connect new data insights to their operating models.

Real-world results

An independent European oil and gas operator was looking to exploit the Norwegian Shelf in the North Sea. It aimed to reduce costs by using already existing infrastructure in a neighboring oil field and had appointed an engineering firm to install a cable along the seafl oor.

Collaboration meant having to work across multiple disciplines and languages. This increased the complexity of communications, decision-making and project management, all of which could lengthen the delivery timescale. For example, each company used a different type of planning software, with Gantt charts provided as the basis for project discussions. But it was almost impossible to get diverse teams of operations personnel, managers and budget holders on the same page.

The operator turned to a specialist in 3-D visualizations and software development for major subsea and offshore engineering companies to find a solution. The digital collaboration platform created by the third-party expert brought all project data—assets and activities, both subsea and topside—online and into plain sight through an easy-to-understand visualization.

The collaboration platform complemented the use of Gantt charts, which are still maintained to plan activities. The intuitive interface presented all of the project data as an animated time line, with a customizable set of information layers. Users could navigate to a snapshot of the project for any date using a simple slider and toggle information layers as required.

The platform has matured to support the entire process of offshore and subsea installations, from planning and feasibility to preparation and actual operations. It gave users a simplified view of activities being carried out offshore along with the status of vessels, rigs and installations.

According to the operator, the digital collaboration platform simplified the business of understanding with what was already there and what had yet to be installed at any point. It presented the field layout graphically, with vessels, trenching, production, rock tumblers and pipe information layers that could be switched on and off, depending on the remit. Further, by using the digital platform, the operator successfully collaborated with all parties as one team, accelerated its project time line by 30% and incurred only minor errors and low periods of downtime.

The benefits are undeniable when digital technologies are implemented across the oil and gas industry, regardless of current oil prices. These include:

• Return on investment: Digital collaboration tools are easy to integrate and train employees on and are capable of accelerating project time lines by up to 80%, especially during the early concept and FEED phases. Once the project data are centralized and visualized, they can then be leveraged across the organization for collaboration in fl uid analysis, operational data gathering, maintenance and decommissioning planning. These time savings can drive cost savings as high as 70% across a project’s life cycle;

• Simplified collaboration: By providing a unified view of the project, digital collaboration tools simplify multilanguage cross-disciplinary communications. This reduces the opportunity for misunderstandings and scheduling confl icts and supports knowledge transfer, collaboration and creative problem-solving;

• Better decision-making: The solution enables activities to be tracked against the project plan and any deviation easily measured. The ability to perform “what-if” analysis allows the outcome of decisions to be modeled in a riskfree environment before taking action in the field; and

• Reduced risk: Increased visibility allows a safety zone to be established around the installation to enable compliance with health and safety requirements. Vessels are prohibited from entering or remaining in the zone at specified points of the project.

Digitalization has the potential to create tremendous value for both the industry and society as a whole. However, for oil and gas such a transformation will require organizations to implement a focused digital strategy championed by the C-suite, executive teams and IT leaders to create a culture of innovation and technology adoption. It also will need investment and commitment to revisit, renew and upgrade current processes, infrastructure and systems and a willingness to share and collaborate across the ecosystem. All the aforementioned needs will be required for a successful digital transformation for the oil and gas industry to truly realize the power and potential digitalization provides.

Have a story idea for Offshore Solutions? This feature highlights technologies and techniques that are helping offshore players overcome their operating challenges. Submit your story ideas to Group Managing Editor Jo Ann Davy at jdavy@ hartenergy.com.

Output: The oil and gas industry needs to adopt digitisation and the internet of everything in order to explore new growth areas and revenue streams, according to Olav Sylthe of Xvision Software. The use of interconnected "people, process, data and things" across the entire value chain would help oil and gas businesses, which have been slow to adopt digitisation, to improve efficiency, reduce costs and streamline projects.


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US claims DJI commercial drones may be Chinese spies in the skies
 SHANGHAI — D.J.I., the popular drone maker, stands as a symbol of China’s growing technology prowess. Its propeller-powered machines dominate global markets and buzz regularly over beaches, cityscapes at sunset and increasingly, power plants and government installations.

Now D.J.I. is fighting a claim by one United States government office that its commercial drones and software may be sending sensitive information about American infrastructure back to China, in the latest clash over the power of data in the growing technological rivalry between the two countries. It also shows how consumer technology companies have become increasingly central to debates about national security.

The company, formally named Da Jiang Innovations Science and Technology Company, put out a statement this month contesting the allegations made in a dispatch from United States customs officials. The memo, from the Los Angeles office of the Immigration and Customs Enforcement bureau, was dated in August but had begun to circulate online more recently.

It said officials had “moderate confidence” that the D.J.I.’s commercial drones and software are “providing U.S. critical infrastructure and law enforcement data to the Chinese government.” It cited what it called a reliable source, who it did not identify, in the drone industry “with first and secondhand access.”

Output: A leading Chinese manufacturer of aerial drones has been accused of providing sensitive data about the US to Beijing. A memo from customs officials in Los Angeles expressed "moderate confidence" that commercial drones produced by Da Jiang Innovations Science and Technology (DJI) were providing "critical infrastructure and law enforcement data" from the US to Chinese authorities. The drones have the capacity to store data and back it up to the company's servers, where user agreements mean it can be transferred across borders. DJI says the claims are false and misleading.


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Regus Regus plans to open 19,000 sq ft location in Miami
 The parent company of executive office provider Regus plans to bring its shared office concept, called Spaces, to South Florida starting in Miami, a Regus executive told The Real Deal.

Regus’ Jeff Doughman, said Spaces plans to open multiple locations in South Florida “from West Palm Beach/Boca Raton on south.” The parent company of Spaces and Regus is IWG plc, a multinational company formerly known as Regus.

Spaces plans to open a 19,000-square-foot location at 2 MiamiCentral, a 190,000-square-foot office building under construction in downtown Miami near the site of a passenger train station that will be built for the planned Brightline rail service. Construction of 2 MiamiCentral is expected to be finished early next year.

Spaces also just preleased almost 24,000 square feet at Cube Wynwyd, an eight-story office building planned at 222 Northwest 24th Street. RedSky Capital landed an $18.27 million construction loan for the building, designed with almost 80,000 square feet of office space and about 11,400 square feet of retail space.

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Doughman said Spaces locations have sleek, open designs and a larger percentage of shared office space and lounge space than Regus locations, which have more private office space.

Though Regus is well known for providing private offices with flexible terms, “we’ve had co-working spaces for years,” Doughman said. Co-working space rates at Regus locations start at $75 to $100 a month.

Doughman said there are 37 Regus locations in South Florida, including five that have opened since late 2016 in Sunny Isles Beach, Miami Beach, Jupiter, Fort Lauderdale and Aventura.

Output: Flexible office space provider Regus will open two more locations in south Florida, with several more to follow, according to Jeff Doughman, the executive vice-president of North American field operations. Regus will open a 19,000 sq ft Spaces centre at the under-construction 2 MiamiCentral, set to open in early 2018, and has pre-leased 24,000 sq ft of the eight-storey Cube Wynwyd site. Regus has 37 premises in south Florida.


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Warm weather could degrade 5G by over 15%
 Future 5G cellular systems, including backhaul links and device-to-device connections, could be affected by solar ray emissions, Embry-Riddle research suggests. Credit: Ahmed Sulyman/Embry-Riddle Aeronautical University

Hot, sunny weather could degrade future fifth-generation or "5G" cellular transmissions by more than 15%—which could mean more dropped calls in places like Florida and the Middle East—but an Embry-Riddle Aeronautical University engineer says research will guide solutions.

Forthcoming 5G cellular systems could support applications requiring ultra-fast processing speeds by tapping into super-high frequency radio waves, which would offer 10 to 100 times more computing space than today's 4G cellular systems.

But, how would bright sunshine affect such high-speed transmissions?

To answer this question, Ahmed Sulyman, an associate professor in Embry-Riddle's Prescott, Ariz.-based Department of Computer, Electrical, & Software Engineering, teamed up with colleagues in Saudi Arabia to publish the first comprehensive analysis of solar radio emissions on land-based wireless communications systems at 60 Gigahertz (GHz) bands.

Sulyman's study appears in a special edition of the peer-reviewed journal IEEE Transactions on Antennas and Propagation (Volume: 65, Issue 12, Dec. 2017, pp. 6624-6635).

The conclusion? Future 5G cellular systems using 60 GHz bands might work better at night because solar radio emissions seem to degrade such transmissions. "This suggests there could be more dropped calls and lost data transmission, and the data rate could be lower during the day compared to nighttime," said Sulyman.

He added, however, that effective communication links at 60 GHz are possible at distances up to 134 meters indoors, and up to 110 meters outdoors, even in hilly, dense urban areas—particularly if antennas are pointed toward each other.

"Engineers can always work around problems if they understand them properly," said Sulyman, a Senior Member of IEEE, the world's largest technical professional organization. "Once we understand the exact nature of solar radio interference on 5G networks, we can plan for it by optimizing links for day-time and night-time operations."

He noted that satellite televisions work well during the day and at night because planners offset any transmission degradation so seamlessly that consumers never know the difference. Similarly, he said, continuing studies of how bright sunshine affects 5G networks will help developers make better decisions to support those systems, too, he said: "These results will help 5G cellular network planners to prepare appropriate link budgets when deploying 60 GHz radio outdoors in extremely hot and sunny weather."

First-generation cellular systems were introduced in 1982, and each subsequent generation of the technology has tended to require about 10 years of development. Rollout of 5G wireless digital systems could happen in the 2020s or sooner, Sulyman said. New 5G standards should be developed in 2019, during the World Radiocommunication Conference.

If 5G systems could make use of extremely high-frequency radio waves—characterized by millimeter-length bands (30- to 300 GHz)—users would benefit from much faster data-access speeds and "nomadic" service that functions much like Wi-Fi, untethered from transmission towers.

As a cost-saving measure, telecommunications developers have been looking at transmissions in the unlicensed 5 GHz and 60 GHz bands. Transmissions in this range would provide cellular operators with an appealing business option in areas not profitable enough to justify more expensive licensed bands.

Currently, most 4G LTE networks make it possible to download a full-length high-definition movie in about five to ten minutes. Future 5G technology would offer much higher speeds. But there could be drawbacks to using higher-frequency radio waves, which have shorter transmission ranges shorter transmission ranges that can be blocked by buildings and weakened by atmospheric conditions.

For his study, Sulyman and colleagues looked at how solar radio emissions would affect 60 GHz communication, in various system configurations such as line-of-sight and non-line-of-sight setups. First they configured an indoor experiment in order to determine the "path loss exponent" or PLE - a measure of transmission degradation - resulting from solar radio emissions. Then, they compared those results with measurements gathered at two sunny outdoor locations in Riyadh city, Saudi Arabia - a hilly region with high-rise buildings and vegetation, and similar terrain with very little vegetation. In hot and sunny weather, PLE values increased by 9.0 to 15.6%, compared to measurements captured at night in cool, clear weather. In other words, the integrity of transmissions were negatively affected by strong sunshine.

Sulyman's journal article in IEEE Transactions on Antennas and Propagation, "Effectives of Solar Radio Emissions on Outdoor Propagation Path Loss Models at 60 GHz bands for Access/backhaul links and D2D communications," was co-authored by Hussein Seleem, Abdulmalik Alwarafy, Khaled Humadi and Abdulhameed Alsanie of King Saud University.

In June 2017, Sulyman published another paper in IEEE Wireless Communications, describing a novel architectural approach to bridging Internet-based "Internet of Things" networks with cellular based systems. Sulyman, who is a senior member of IEEE, joined Embry-Riddle's Prescott Campus in February 2017, having previously taught in Saudi Arabia.

More information: Ahmed Iyanda Sulyman et al, Effects of Solar Radio Emissions on Outdoor Propagation Path Loss Models at 60 GHz bands for Access/backhaul links and D2D communications, IEEE Transactions on Antennas and Propagation (2017). DOI: 10.1109/TAP.2017.2759959 Journal information: IEEE Transactions on Antennas and Propagation

Provided by Embry-Riddle Aeronautical University

Output: Solar radio emissions could interfere with 5G cellular transmissions, according to a study led by Ahmed Sulyman, associate professor of electrical engineering at Embry-Riddle. The study found that the integrity of 5G transmissions we negatively affected by as much as 15.6% in bright sunlight. The team carried out tests indoors, at night, and in two sunny outdoors locations in Riyadh City, Saudi Arabia.


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Input:
Japanese train successfully demos 5G at 60 mph
 Credit: Samsung

(Tech Xplore)—Samsung fans get to say Cool. A 5G test on an over-100KM/H train (over 60 mph) scored results that are apt to please the corporate insiders, considering all the attention being paid to 5G in the pre-standard stage.

Daniel Fuller in Android Headlines made the observation that many companies involved in 5G research and development are almost ready to start working with carriers on deployment, as soon as the official standard is announced.

Once the standard is announced, giants like Samsung want to be ready to roll.

"At this point, 5G is mostly a matter of fine-tuning the software running on the equipment to ensure that it's up to par with the official standard once the 3GPP announces it. This means that carriers can begin deploying true 5G very soon after the announcement, and some have already begun deploying 4.9G and pseudo-5G solutions in commercial network markets, with plans to refarm them into actual 5G access points once the standard is announced," said Fuller.

This train scene was a joint test in October, by both Samsung and Japan-based operator KDDI. It was carried out in Japan, over a 1-mile stretch of track with a moving train.

Fuller noted the test took advantage of two fixed wireless points that used Samsung's equipment and KDDI's network backhaul.

Samsung used a 5G router (CPE), radio access unit (5G Radio), virtualized RAN and virtualized core, for testing.

Results? Samsung reported a "5G uplink and downlink handover" and achieving a peak speed of 1.7Gbps.

Fuller commented that "this test sticks out because of the sustained speed and uninterrupted connection over the of 1.5 kilometers, close to a mile, running a section of track that length between two substations." No issues—"and 5G speeds were sustained on the uplink and downlink throughout the entire trial, with peak speeds reaching as high as 1.7 gigabits per second."

All in all, the Japan trial involved a speed test and a testing the connection by streaming 8K video to the train; and uploading 4K video from a special camera mounted on the front of it.

Daniel Fuller, Android Headlines: "Technology conglomerate Samsung does not think that a fast-moving train is a strange place for consumers to demand access to 5G mobile internet, and neither does Japanese mobile carrier KDDI."

Samsung connected the dots between 5G's future and high speed trains.

"The demonstration leveraged capabilities driven by 5G, such as high throughput, low latency and massive connections, which verified potential services and use cases that would be highly-beneficial to passengers and operators of high-speed trains. This could pave the way to vastly improved backhaul for onboard WiFi, superior passenger infotainment and increased security and analytics."

KDDI also commented.

Yoshiaki Uchida, KDDI, said the success of the demonstration in everyday locations such as a train and train station was an important milestone indicating 5G commercialization was near. Uchida also said that to fulfill their aim to launch 5G by 2020, "KDDI will continue exploring real-life scenario experiments for diverse 5G use and business cases together with Samsung."

© 2017 Tech Xplore

Output: Samsung and Japanese rail operator KDDI have successfully demonstrated a 5G test on a train travelling at 100 km/h (over 60 mph). The test, which was carried out on a one-mile stretch of track in Japan, relied on two fixed wireless points running Samsung technology and KDDI's network backhaul. The result was a "5G uplink and downlink handover" with a peak speed of 1.7 gigabits per second, according to Samsung.


Instruction: create a high quality summary of the given input

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Researchers develop photocatalyst to convert CO2 to methane
 (a) The figure shows the color change of the photocatalyst developed by the research team. It shows that the reduced titanium dioxide absorbs light more towards the right and the color gets darker.(b) A graph comparing the methane production efficiencies of the photocatalysts developed by the research team and the existing photocatalysts. The methane production efficiency of the photocatalyst (0.35-BT-30) developed by the team is superior to other photocatalysts.(c) The energy level diagram of the photocatalyst developed by the research team. It shows the characteristic that the oxygen atoms on the surface of titanium dioxide are defected and the band gap is controlled by changing oxidation number from 4 to 3. Credit: Daegu Gyeongbuk Institute of Science and Technology (DGIST)

A research team of Energy Science and Engineering at DGIST has developed a titanium dioxide (TiO2)-based, high-efficiency photocatalyst that converts carbon dioxide to methane using a simple reduction method.

The photocatalysts developed by the research team can be used to convert carbon dioxide to fuels like methane. Therefore, it can be applied to technologies for carbon dioxide abatement and resource reclamation.

Anthropogenic emission of greenhouse gases, particularly CO2, is a significant factor driving global climate change; sustainable, low-carbon, readily portable fuels are one of the most pressing needs of modern society. To that end, there has been a worldwide effort underway to find ways to convert carbon dioxide, a major contributor to global warming, into a usable fuel, such as hydrogen, methane, ethanol, methanol and butanol.

In order to use carbon dioxide as a resource, it is essential to increase the conversion efficiency and light absorption efficiency when converting carbon dioxide into fuel, and to use photocatalysts to prevent secondary harmful substances.

Carbon dioxide recycling depends on synthesizing materials such as titanium dioxide, copper oxide, and reduced graphene oxide, or controlling the structure and surface of photocatalyst material. DGIST's research team has discovered a synthesis method that rapidly reduces titanium dioxide (TiO2) at low temperatures using a strong reducing agent, sodium borohydride (NaBH4).

In the study, titanium dioxide-based photocatalysts using this synthesis method showed 12.49 percent conversion of methane to photochemical carbon dioxide in the gas phase, which represents the highest conversion rate among the introduced photocatalysts so far.

In addition, the photocatalyst developed by the research team exhibits controlled band gap through the conversion of the oxidation number from four to three by breaking the oxygen atoms on the surface of titanium dioxide. This change increases the amount of light absorption and efficiently separates the charge, resulting in higher carbon conversion of carbon dioxide. Moreover, the experiment has also proved that the efficiency of methane conversion of carbon dioxide can be increased up to 29 times using platinum nanoparticles.

Professor In said, "The newly developed titanium dioxide photocatalyst is superior to the other photocatalysts reported so far as it has outstanding carbon dioxide conversion efficiency as well as excellent stability. We would like to contribute to the development of carbon dioxide reduction and recycling technology by conducting further researches to improve conversion efficiency to the extent that it can be commercialized."

More information: Saurav Sorcar et al, Highly enhanced and stable activity of defect-induced titania nanoparticles for solar light-driven CO 2 reduction into CH 4, Materials Today (2017). DOI: 10.1016/j.mattod.2017.09.005 Journal information: Materials Today

Provided by Daegu Gyeongbuk Institute of Science and Technology

Output: Researchers at South Korea's Daegu Gyeongbuk Institute of Science and Technology (DGIST) have developed a simple reduction method to convert carbon dioxide to methane, which achieves the highest conversion rate ever seen among photocatalysts. The team used sodium borohydride to reduce titanium dioxide, with resulting photocatalysts in the gas phase measuring 12.49% conversion of methane to photochemical carbon dioxide. The DGIST team said that the introduction of platinum nanoparticles increased conversion efficiency by up to 29 times. Further tests will be conducted to determine whether the method can be commercialised.


Instruction: create a high quality summary of the given input

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Enel to sell 350 MW of US wind-energy assets
 Enel Green Power North America has agreed to sell investment fund Gulf Pacific Power 80% stakes in the 200MW Caney River and 150MW Rocky Ridge wind farms in Kansas and Oklahoma, respectively.

The deal is priced at approximately $233m, which will be paid when the transaction closes by the end of the year.

Enel Green Power will retain a 20% interest in the projects and continue to manage, operate and maintain both wind farms.Caney River is located in Elk County and has been operating since 2011. It sells electricity to the Tennessee Valley Authority.Rocky Ridge, which is in Kiowa and Washita counties, came online in 2012 and supplies the Western Farmers Electric Cooperative.Enel Green Power head Antonio Cammisecra said: “Today’s agreement with a new investment partner reinforces the success and confirms the appeal of our continued industrial growth strategy throughout the ‘build, sell and operate’ model with the aim to support new growth opportunities both in North America and other markets around the world.”

Output: Enel Green Power North America is to sell its stakes in the 150 MW Rocky Ridge and 200 MW Caney River wind farms, in Oklahoma and Kansas for about $233m. Enel Green Power will continue to manage, operate and run maintenance on both wind farms.


Instruction: create a high quality summary of the given input

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Indian utilities agree to buy power from Engie solar project
 After months of uncertainty, Solairedirect has finally found a buyer for its 250 megawatt solar power project in the Indian state of Andhra Pradesh.

The original designated buyers of the project, power distribution companies in Andhra Pradesh, have come around and agreed to procure electricity generated from the 250 megawatt project in the Kadapa solar power park. Solairedirect, a subsidiary of French utility Engie, secured this project in a competitive auction earlier this year.

The project is one of the cheapest solar power projects, with a 25-year tariff of Rs 3.15/kWh (4.8¢/kWh). Thus, it was surprising that the Andhra Pradesh power utilities refused to purchase electricity from the project. Tariff bids had fallen to as low as Rs 2.44/kWh (3.7¢/kWh) within a few months of the Kadapa auction.

Consequently, the state power utilities had asked NTPC Limited (owner) to find new buyers for the project and even voluntarily offered exemptions from any likely charges for sale of power to other states. The power utilities stated that they have already contracted enough solar power meet their Renewable Purchase Obligation (RPO) — a regulation that mandates power utilities to procure a set minimum percentage of electricity from solar and other renewable energy technologies. Interestingly, the utilities face perhaps the highest RPO targets in the country and, at current rates, are likely to fall short of the solar power capacity required to meet those targets.

The Andhra Pradesh Electricity Regulatory Commission (APERC) has proposed to increase the share of renewable energy in its electricity mix to 25.25% by March 2022. For non-solar renewable energy technologies, APERC has proposed a target of 12.50% by March 2022. The commission has also proposed to increase the solar power share from 4.75% in 2017-18 to 12.75% in 2021-22.

According to the Ministry of New & New Renewable Energy (MNRE) at 8% solar RPO target, Andhra Pradesh would require 9,834 megawatts operational capacity by March 2022. At 12.75% this capacity requirement would increase substantially.

As of 31 October 2017, the state had an installed solar power capacity of just 2.1 gigawatts.

The utilities have now agreed to sign a power purchase agreement with the Solairedirect power plant, but with a condition. NTPC will ‘bundle’ 125 megawatts of coal-based electricity with the 250 megawatts of solar power. This would ensure that the overall cost of the electricity procurement is lower than Rs 3.15/kWh (4.8¢/kWh).

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Output: Power utilities in the Indian state of Andhra Pradesh have agreed, after some delay, to buy electricity from a 250 MW solar power project owned by Engie subsidiary Solairedirect. Initially, the utilities refused to buy power from the Kadapa solar power park even though it was offering a relatively low 25-year tariff of INR3.15 ($0.05)/kWh. Under the power purchase agreement, they will buy power from the solar project as long as it is bundled with 125 MW of coal-based electricity to ensure prices remain under INR3.15/kWh.


Instruction: create a high quality summary of the given input

Input:
Engie concludes acquisition of 605 MW wind farm in Brazil
 Engie Brasil Energia SA, a unit of France’s Engie SA (EPA:ENGI), announced on Friday that it has concluded the acquisition of the rights to the 605-MW Umburanas wind power complex in Bahia state.

Engie Brasil paid BRL 16.9 million (USD 5.2m/EUR 4.3m) to local renewables company Renova Energia SA (BVMF:RNEW11) as part of the agreement.

The company noted that it expects to invest some BEL 1.8 billion in the development of the 360-MW first phase of the project, and would work on the remaining 245 MW in the future. Completion of Phase I is seen in 2019. About 102.5 MW of the project were sold in auction A-5/2014 at the average price of BRL 139.60 per MWh.

The financial settlement was achieved on November 24, when Engie made a BRL-7.5-million payment concerning the first installment of the deal. A month earlier, Brazil's power sector regulator Aneel approved the transfer of rights and cancelled four permits already given to Umburanas.

(BRL 1 = USD 0.309/EUR 0.259)

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Output: Engie Brasil Energia, a subsidiary of France's Engie, has closed the acquisition of the 605 MW Umburanas wind power facility in Bahia. Engie Brasil paid $5.2m to Renova Energia for the rights and expects to complete the first 360 MW of the project in 2019.


Instruction: create a high quality summary of the given input

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Enel to sell 80% stake in US wind farm company
 Italian utility Enel SpA (BIT:ENEL) said today that its US renewables arm will sell an 80% stake in the owner of 350 MW of wind power generating capacity in the states of Kansas and Oklahoma.

Specifically, Enel Green Power North America Inc (EGPNA) has entered into a cash equity agreement to sell 80% of the Class A shares in Rocky Caney Wind LLC to investment fund Gulf Pacific Power LLC for about USD 233 million (EUR 196m).

The transaction is seen closing by the end of the year. It will allow the Italian group to deconsolidate some USD 140 million worth of debt, Enel noted.

Rocky Caney Wind is the owner of the 200-MW Caney River wind farm in Elk County, Kansas and the 150-MW Rocky Ridge wind park in Kiowa and Washita Counties, Oklahoma. Caney River sells its power output to the Tennessee Valley Authority, while Rocky Ridge sells it to the Western Farmers Electric Cooperative.

Aside from retaining a 20% stake, EGPNA will also continue to manage, operate and perform maintenance activities at both plants after the transaction wraps up.

(USD 1.0 = EUR 0.841)

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Output: Enel said that it plans to sell 80% of its Class A shares in Rocky Caney Wind, the owner of 350 MW of wind power generating capacity in Oklahoma and Kansas. Enel Green Power North America aims to close the deal by the close of the year and will retain a 20% stake in the plant and continue to operate the facilities following the transaction.


Instruction: create a high quality summary of the given input

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Ventient Energy becomes UK's largest non-utility wind company
 The UK today saw the launch of a new onshore wind company with a portfolio of 690 MW of installed capacity, which is owned by institutional investors advised by JP Morgan Asset Management.

The company is called Ventient Energy Ltd and was formed by the merger of a portfolio of 15 wind farms of Zephyr Investments Ltd with 19 wind farms that were formerly owned by Infinis.

Based in Edinburgh, Scotland, the company describes itself as the third largest onshore wind generator and the largest non-utility owner of onshore wind in the UK. And it sees opportunities for growth. "The UK onshore wind market is fragmented, and Ventient Energy owns only 6% of market capacity at present, so we see plenty of opportunities to grow our installed capacity through consolidation," said chief executive Scott Mackenzie.

Ventient Energy's team has replaced Innogy Renewable UK Ltd as provider of asset management services for Zephyr Investments.

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Output: Ventient Energy has acquired a portfolio of 690 MW of onshore UK wind capacity, making it the country's largest non-utility owner of such assets. The Edinburgh-based company was formed by merging 15 Zephyr wind farms with 19 farms formerly owned by Infinis Wind. The company will replace Innogy Renewable UK as the provider of asset management services for Zephyr Investments.


Instruction: create a high quality summary of the given input

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Canada Pension Plan buys 16.33% stake in India's ReNew Power
 The Canada Pension Plan (CPP) Investment Board will buy a stake of up to 16.33% in Indian independent power producer ReNew Power Ventures Pvt Ltd, which is majority owned by Goldman Sachs Group Inc (NYSE:GS).

In a filing with the Competition Commission of India, CPPIB said it plans to acquire the stake in two separate transactions. Firstly, the Canadian investment manager is investing about USD 200 million (EUR 168.6m) in compulsorily preference shares that will be converted into equity once ReNew launches an initial public offering (IPO). The size of the interest in this part of the deal will depend on the valuation of the IPO and is not expected to exceed 10% of ReNew’s equity share capital.

As part of a second transaction, CPPIB will buy 6.33% of the Indian firm’s stock from the Asian Development Bank.

According to a report by the Economic Times, CPPIB’s investment in ReNew will represent a 14%-15% stake that will make it the third largest shareholder at the company. The newspaper cited unnamed industry sources as saying that the acquisition price is USD 350 million, valuing ReNew at USD 2.37 billion.

Earlier this year, Japanese power company JERA Co Inc, which is a joint venture between Tokyo Electric Power Co (TYO:9501) and Chubu Electric Power Co (TYO:9502), acquired a 10% stake in ReNew Power for USD 200 million in a deal that valued the Indian firm at USD 2 billion.

At present, ReNew Power has more than 2 GW of commissioned wind and solar capacity and an additional 1 GW of assets under construction, it says on its website.

(USD 1.0 = EUR 0.843)

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Output: The Canada Pension Plan (CPP) Investment Board plans to purchase a stake as high as 16.33% stake in ReNew Power Ventures, an independent Indian power producer. ReNew is currently majority controlled by Goldman Sachs. COP will gain its stake in two transactions: an initial $200m of preference shares to be converted into equity after an IPO, and a 6.33% stake from the Asian Development Bank.