Latest news with #EdisonAward
Yahoo
11-05-2025
- Business
- Yahoo
Elutia Inc (ELUT) Q1 2025 Earnings Call Highlights: Strategic Growth and Challenges in Transition
Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Elutia Inc (NASDAQ:ELUT) reported a 31% year-over-year growth in its bio envelope division, reaching $3.1 million in revenue. The company successfully launched its LEU Pro product, which now constitutes 52% of the bio envelope revenue, showing an 84% increase from the previous quarter. Elutia Inc (NASDAQ:ELUT) formed a strategic partnership with Boston Scientific, expanding its commercial footprint to over 900 sales professionals. The company opened a new facility in Gaithersburg, Maryland, to enhance manufacturing capacity and reduce production costs. Elutia Inc (NASDAQ:ELUT) received an Edison Award for innovation in post-surgical recovery, highlighting its commitment to advancing medical technology. Revenue from the Simple Derm division decreased from $3.6 million last year to $2.6 million this quarter. The cardiovascular products division reported only $300,000 in sales, as it was still transitioning from an outside distributor. Overall sales were down from the previous year, despite a sequential increase from the fourth quarter. The company faced production constraints due to the antibiotic component of LEU Pro, necessitating the opening of a new facility. Elutia Inc (NASDAQ:ELUT) had to manage cash flow carefully, including a registered direct offering and amendments to financial agreements to conserve cash. Warning! GuruFocus has detected 6 Warning Signs with ELUT. Q: How have the relationships with physicians gone in the cases where Boston Scientific reps are involved? Are they fully switching to LU Pro, or is it a gradual process? A: Randy Mills, CEO: The adoption pattern for LU Pro typically starts with one physician in a practice showing interest and using the product. Once they experience the benefits, particularly if they've used competitive products before, it tends to spread through the practice. The conversion is not limited to Boston Scientific cases; it often extends to other cases as well, making it a valuable partnership for both Elutia and Boston Scientific. Q: What is the current manufacturing capacity for LU Pro, and how much revenue can it support before reaching constraints? A: Randy Mills, CEO: Our current manufacturing capacity can support about $140 million in LU Pro revenue annually. However, the production of the antibiotic disk component is a constraint, limiting capacity to $25-30 million annually. We are expanding to address this bottleneck. Q: How should we think about the cash burn profile going forward, considering the growth of LU Pro and the cardiovascular products coming in-house? A: Matt Steinberg, CFO: The cash flow from operations in Q1 was about $8.1 million, including $4 million related to litigation settlement. We expect cash burn to decrease as we move through the year, likely returning to a more historic range of $4-5 million. Q: How will the registry study data support commercial conversions and broader clinical adoption over the next 12-18 months? A: Randy Mills, CEO: The registry study data will be more impactful in the second half of next year when publications are available. This data, along with existing clinical and scientific studies, will bolster our value analysis committee submissions and support regulatory submissions outside the U.S. Q: What is the expected pace of mix shift towards LU Pro in the bio envelope category, and how will it affect Kangaroo sales? A: Randy Mills, CEO: LU Pro is expected to significantly outpace Kangaroo, with potential U.S. revenue of about $200 million at maturity compared to Kangaroo's $10 million. While Kangaroo will remain for certain patient populations, LU Pro is rapidly gaining market share, now constituting over 50% of bio envelope revenue. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
10-04-2025
- Business
- Yahoo
Microban International Wins Silver Edison Award for Sustainable Antimicrobial Technology Ascera™
HUNTERSVILLE, N.C., April 10, 2025 /PRNewswire/ -- Microban International, the leader in antimicrobial solutions, has been awarded the silver Edison Award in the Materials Science category for its groundbreaking antimicrobial technology Ascera™. This prestigious honor, presented at the 2025 Edison Awards Gala in Fort Myers, Florida, on April 3, places Microban among an elite group of innovators recognized for their contributions to advancing technology and the industry. Ascera is a patented metal-free antimicrobial technology inspired by nature. It is designed to inhibit bacterial growth by up to 99.99% while reducing environmental impact. Unlike traditional antimicrobials that rely on metal-based chemistries, Ascera's active ingredient is similar to acids found in nature and has a long history of being used in multiple consumer product applications. Moreover, it provides UV-stable, 24/7 product protection and seamlessly integrates into polymers and coatings, extending product life and promoting sustainability. Ascera technology will soon also be available for use in textiles. "We are honored to be recognized with the Edison Award for Ascera," said Michael Ruby, president of Microban International. "This recognition highlights our commitment to pioneering sustainable ingredient technologies that enhance product durability while addressing environmental concerns. Ascera is part of our ongoing efforts to introduce a new generation of nature-inspired chemistries." The Edison Awards, named after Thomas Edison, celebrate the world's top innovations, highlighting excellence in concept, value, delivery and impact. By securing a silver win, Microban joins the ranks of honorable innovators recognized for their significant contributions to materials science, further reinforcing its leadership in the field. For more information about Ascera and Microban's commitment to sustainable antimicrobial technology, visit About Microban International Part of Barr Brands International, Microban International is home to the most trusted and well-known global brands in the antimicrobial, odor control and sanitization/disinfection markets: Microban® and Ultra-Fresh®. Our organization has experienced over 100 collective years of growth and has revolutionized the industry. As the global leader, our proactive systems keep products cleaner and control odors better by preventing problems before they start. Microban International drives innovation by combining science and creative solutions that enhance high-quality consumer, textile, industrial and medical products worldwide. Today, the Microban and Ultra-Fresh brands and our technologies are featured on thousands of products worldwide. The company is headquartered in North Carolina and operates in North America, Europe and Asia-Pacific. For more information, please visit View original content to download multimedia: SOURCE Microban International
Yahoo
08-04-2025
- Business
- Yahoo
Brenmiller Energy's bGen™ ZERO Wins Gold at 2025 Edison Awards
The system received the gold award in the Energy Storage and Management category TEL AVIV, Israel, April 08, 2025--(BUSINESS WIRE)--Brenmiller Energy Ltd. ("Brenmiller", "Brenmiller Energy" or the "Company") (NASDAQ: BNRG), a leading global provider of thermal energy storage ("TES") solutions to industrial and utility markets, is pleased to share that its pioneering bGen™ ZERO TES system received a gold Edison Award in the Energy Storage and Management category at the 2025 Edison Awards Gala in Fort Meyers, Florida, United States. Chairman and Chief Executive Officer Avi Brenmiller attended the ceremony and accepted the award on behalf of the Company. Established in 1987, The Edison Awards™ is among the most prestigious accolades honoring excellence in new product and service development, marketing, design and innovation. Its vision is continually guided by the legacy and vision of Thomas Edison and his Menlo Park team, which successfully brought an unprecedented number of innovations to the market. "Winning an Edison Award is a tremendous honor, and we're pleased to see our bGen thermal energy storage technology, once again, recognized for its innovation and impact," said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. "This achievement is a reflection of our team's decades-long dedication to developing cutting-edge renewable heat solutions. We are proud to continue Thomas Edison's legacy of advancing technologies that reshape how we access and consume electricity." The Edison Awards' Steering Committee and an executive judging body comprised of more than 3,000 senior business executives and academics from the fields of product development, design, engineering, science, marketing and education, as well as past winners, reviewed all nominations. Brenmiller's bGen™ converts electricity into heat for industrial processes. It is mature, cost-competitive with natural gas, and commercially available. The bGen™ also supports the development of utility-scale renewables by providing critical flexibility and grid-balancing capabilities. Tested in the harshest power plant environments, Brenmiller's bGen™ is proven reliable and already making an impact around the globe. In addition to winning an Edison Award, Brenmiller's bGen™ technology was recognized as one of TIME Magazine's Best Inventions of 2023 and was a finalist in Bloomberg New Energy Finance's 2024 Pioneers program; it has also received the European Commission's Seal of Excellence and was named an Innovation Champion by the European Investment Bank. About Brenmiller Energy Ltd. Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller's patented bGen™ thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers' needs. The most experienced thermal battery developer on the market, Brenmiller operates the world's only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company's website at and follow the Company on X (formerly Twitter) and LinkedIn. About The Edison Awards Established in 1987, the Edison Awards are dedicated to recognizing, honoring and fostering innovations and innovators. Named after Thomas Alva Edison (1847-1931), the annual competition honors excellence in new product and service development, marketing, human-centered design and innovation. Past award recipients include Jony Ive, Martha Stewart, Carmichael Roberts and companies leading in innovation including Nest, now part of Google, AMD, Intel, Naqi, 3M and Cargill. In 2021, the Edison Awards introduced the inaugural Lewis Latimer Fellowship program designed to celebrate, connect and bring together a community of innovative Black thought leaders. For more information, visit View source version on Contacts Media Contact:Tori Bentkoverbrenmillerenergy@ Sign in to access your portfolio
Associated Press
07-04-2025
- Business
- Associated Press
HKPC's 'Autonomous Air-ground Cooperative Tunnel Inspector' Claims 2025 Edison Awards Gold for the First Time
World's Pioneering Drone Solution Achieving Millimetre-level Precision Setting a New Benchmark for Smart Sites in Hong Kong HONG KONG SAR - Media OutReach Newswire - 7 April 2025 - The Hong Kong Productivity Council (HKPC), the Civil Engineering and Development Department, and the Hyder-Meinhardt Joint Venture have co-developed the 'Autonomous Air-ground Cooperative Tunnel Inspector' in the Trunk Road T2 and Cha Kwo Ling Tunnel project. This system integrates artificial intelligence (AI), multi-robot systems and precise positioning technique in GPS-denied environments, further advancing the intelligence, automation, and digitalisation of tunnel inspection in Hong Kong. HKPC is pleased to announce that this system has been awarded the Gold Award at the prestigious global Edison Awards, marking the third consecutive year that HKPC's research projects have received this international recognition, and it is the first time receiving the honour of a Gold Award, highlighting the ongoing excellence of Hong Kong's research achievements. The Hong Kong Productivity Council, the Civil Engineering and Development Department, and the Hyder-Meinhardt Joint Venture have co-developed the 'Autonomous Air-ground Cooperative Tunnel Inspector' in the Trunk Road T2 and Cha Kwo Ling Tunnel project. This system integrates AI, multi-robot systems and precise positioning technique in GPS-denied environments, further advancing the intelligence, automation, and digitalisation of tunnel inspections in Hong Kong. The system has been awarded the Gold award at the prestigious Edison Awards, marking the third consecutive year that HKPC's research projects have received this international recognition, and it is the first time receiving the honor of a Gold Award. Hon Sunny TAN, Chairman of HKPC mentioned: 'Winning the Edison Award again is a significant recognition of collaboration between Hong Kong's Government, industry, academia and research sectors. This locally-developed groundbreaking system integrates air-ground collaboration, edge AI computing, and millimetre-level positioning technology that well overcomes the difficulty of positioning in GPS-denied environments. The system has been successfully applied to major infrastructure projects in Hong Kong, replacing the traditional manual inspection at heights. It not only brings safer tunnel inspection, but also enhances efficiency, and sets a good precedent for global infrastructure digitalisation. As an enabler of new industrialisation in Hong Kong, HKPC will continue to focus on the transformation and realisation of research and development outcomes, aligning with Government policies to transform Hong Kong into an international innovation and technology centre.' Previous HKPC technology application projects, such as the 'InspecSpider' system, have won international R&D awards. This time, the Tunnel Inspector's recognition with the Edison Award further demonstrates Hong Kong's strong innovative technology capabilities and its ability to implement these achievements in real-world applications. AI-enhanced Measurement Efficiency: Reducing Working at Heights Autonomous Air-ground Cooperative Tunnel Inspector incorporates three cutting-edge technologies: multi-robot cooperation between Unmanned Ground Vehicle (UGV) and Unmanned Aerial Vehicle (UAV), edge-computing AI module installed in the UGV, and the use of fiducial marker and LiDAR to obtain precise positioning in GPS-denied environments. This combination allows traditionally time-consuming tunnel inspection tasks to be completed quickly. When the system is in operation, it adopts air-ground cooperation between the UGV and UAV to achieve 360° full coverage in the tunnel. The 5K camera automatically captures colour and thermal images, which are then transmitted to the AI module of the UGV for defect detection and analysis. The system can execute defect detection with millimetre-level precision. Compared to conventional inspection methods, it speeds up the inspection by 23 times and saves 50% of inspection cost. Even in GPS-denied tunnel environments, the system can still calculate the precise coordinates of the UAV and UGV by using SLAM technique with fiducial markers, or deploying survey total stations in the tunnel to swiftly carry out automated tunnel inspections with up to millimetre-level accuracy. The system also delivers fully digitalised inspection reports, thus reducing the manual works. Engineers can monitor the system's operation in a safe environment, which greatly eliminates the need for working at height and makes the tunnel inspection process safer and more efficient. Practical Applications of AI and Robotics Leading Hong Kong's Low-altitude Economy HKPC was appointed by the HKSAR Government as the technical partner for the Working Group on Developing Low-altitude Economy and established the Hong Kong Industrial Drone Technology Centre in 2021. The Centre provides various low-altitude economy-related services and has trained nearly 700 drone pilots ready to advance the low-altitude economy. A key feature of the award-winning inspection system is air-ground collaboration, where UAV- perform specific tasks while supported by UGV-, which can carry batteries and some payloads on the ground, significantly enhancing UAVs' flexibility, endurance, and safety. This provides a strong practical example for the future application of low-altitude UAV technology across various industries, potentially accelerating the development of Hong Kong's low-altitude economy. About the Edison Awards First held in 1987, The Edison Awards are among the world's most prestigious honour in science and technology, recognizing groundbreaking research achievements and innovative products distinguished by originality, creativity, and technological excellence. The awards are judged by Edison Universe, a non-profit organization, dedicated to promoting innovative thinking. Past award winners include Genentech, General Electric, General Motors, GoPro, IBM, NVIDIA and others. For more information about the 2025 Edison Awards, please visit: Hashtag: #HongKongProductivityCouncil The issuer is solely responsible for the content of this announcement. About Hong Kong Productivity Council The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through relentless drive of world-class advanced technologies and innovative service offerings to support Hong Kong enterprises. As a nationwide leader in innovative, market-driven research and development (R&D) internationally, specialising in leading technologies and all-rounded manufacturing services, HKPC promotes new industrialisation in Hong Kong and the Greater Bay Area and facilitates the development of new productive forces, leveraging innovation and technology (I&T), as well as bolstering Hong Kong to be an international innovation and technology centre and a smart city. The Council offers comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhance competitiveness in both local and overseas marketplace. The Council partners and collaborates with local industries and enterprises and world-class R&D institutes to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation, technology transfer, and commercialisation, bringing enormous business opportunities ahead. HKPC's world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades. In addition, HKPC offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment, and strengthens talent nurturing and Hong Kong's competitiveness with FutureSkills training for enterprises and academia to enhance digital capabilities and STEM competencies.
Yahoo
02-04-2025
- Business
- Yahoo
Vitaliti Technologies Launches as an AI Pioneer in Healthcare
KITCHENER, ON / / April 2, 2025 / Vitaliti Technologies Inc. has officially launched with a transformative healthcare platform that uses artificial intelligence (AI) to power a unique remote patient monitoring (RPM) ecosystem. Founded in Vancouver, Canada, this multi-award-winning company provides solutions designed to improve patient care, reduce costs, and make healthcare delivery easier for everyone involved. Currently valued at $3 million CAD, Vitaliti offers investors an exciting opportunity. The company already has paying customers and strong partnerships. With proven technology and a clear path for growth, Vitaliti stands out in the quickly expanding field of virtual care powered by artificial intelligence. Meeting the Growing Need for Virtual Care The demand for virtual healthcare services is growing rapidly. As populations age, more people are living with chronic illnesses and recovering from complex surgeries. Traditional healthcare systems in North America struggle to provide timely and efficient care to everyone. Vitaliti Technologies AI takes in data from remote patient monitoring devices and delivers clinical decision-support solutions that can autonomously predict poor surgical outcomes, improve medication adherence, and screen for deadly respiratory diseases. Working together, Vitaliti software and proprietary medical devices are designed to reduce hospital length of stay after surgery, medication errors, post-surgical complications, and deaths. Readmissions and ER visits are also reduced, making care much more efficient. Doctors respond with high satisfaction scores and word-of-mouth referrals. Proven to Perform and Easy to Use Vitaliti's technology isn't just promising; it's scientifically proven. Independent studies show that their RPM system performs better than competitors' products. Patients also like using it. High patient satisfaction means users trust the technology, leading to higher compliance and better overall results. The company's commitment to research and development is evident in the 14 patents it holds, 8 of which are specifically related to AI applications. Additional patents in the United States and around the world are pending. Leading the Industry Through Innovation Vitaliti Technologies is recognized as a Canadian leader in AI and virtual care. They have been named Startup of the Year for Innovation and earned Canada's first-ever XPRIZE, along with an Edison Award, Fast Company's "World Changing Idea," and a 2022 Top Innovator Award from Canadian Business. These awards confirm the forward-looking nature of Vitaliti's technology. Real-World Impact and Global Reach Vitaliti Technologies is currently powering the Vision-2 global clinical study of up to 20,000 patients at McMaster University's Population Health Research Institute. This large-scale research project focuses on improving patient outcomes after surgery. Academic partnerships allow Vitaliti to prove the value of its products on the road to regulatory approval. Generating Revenue and Growing Quickly Unlike most technology startups, Vitaliti is generating revenue from Day One. As part of the Vision-2 project, they have secured contracts to supply their platform to 8 hospitals in 4 countries so far. This immediate success proves there's a strong demand for Vitaliti's AI technology. Looking ahead, Vitaliti is set for rapid growth. The company expects revenues to grow from approximately $450,000 in 2025 to a profitable $3 million by 2027. New partnerships and large contracts planned for the near future will help accelerate this growth. A Unique Investment Opportunity For investors interested in the rapidly growing fields of AI and machine learning, Vitaliti Technologies presents an appealing opportunity. With its modest current valuation, investors have the chance to get in early with a proven, successful company. Vitaliti Technologies blends award-winning products, scientific validation, and satisfied customers to redefine healthcare. By investing now, backers can become part of a company that not only addresses today's healthcare challenges but also shapes the future of medical care. About Vitaliti Technologies Inc. Vitaliti Technologies Inc. is a medical AI company that specializes in remote patient monitoring (RPM) and automated healthcare solutions. Located in Vancouver, BC, Canada, the company was founded by Robert Kaul, Dr. Gaurav Puri, and Dr. Constantine Zachos. Company Information Company Name: Vitaliti Technologies 202-72 Victoria St. South Kitchener, ON N2G 4Y9 Canada SOURCE: Vitaliti Technologies Inc. View the original press release on ACCESS Newswire
