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Business Standard
6 hours ago
- Business
- Business Standard
IIT Alumni Council Calls for Industry Collaboration to Manufacture Advanced Sustainable Materials at Global Scale
PNN New Delhi [India], June 9: The IIT Alumni Council has invited leading industrial players to collaborate on the mass production of next-generation materials, designed using principles from the semiconductor industry and accelerated by AI-driven platforms. At the heart of this initiative lies the AMAT AI Platform--a foundational large material model under development. Its goal: to replace scarce, expensive elements like lithium, cobalt, molybdenum, nickel, and indium with earth-abundant alternatives such as coal, thorium, silica, and iron ore. "These projects require significant capital investments--often exceeding Rs10,000 crores," said Ravi Sharma, President and Chief Volunteer, IIT Alumni Council. "They include the design and fabrication of high-throughput process equipment and large-scale manufacturing plants. Our role is to act as a knowledge partner and incubate research startups via our Social Impact Fund. These startups are critical in adapting and refining the core technologies for industrial-scale deployment." Reimagining Materials, Redefining Possibilities: "Materials like carbon and silicon are extremely versatile," explained Mr. Jitendra Singh, Distinguished Fellow, IIT Alumni Council. "Carbon ranges from diamonds to coal, graphene superconductors to carbon insulators--depending on its structure. Silicon, when doped, transforms into a semiconductor. Together, carbon and silicon form silicon carbide, a key candidate for low-cost inverters and devices. We are also exploring zero-gap semiconductors, which could disrupt industries like energy storage, HVAC, and turbine manufacturing through new architectures like high-efficiency thermoelectric generators (TEGs) and Peltier-based cooling systems." A Turning Point in Green Chemistry: "AI's most visible early contribution to materials science is here," added Mr. Shashi Shekhar, environmentalist and former Secretary, Ministry of Water & Ganga Rejuvenation. "When combined with additive manufacturing and Industry 4.0, this opens the door to safe, sustainable, and high-performance materials. These can even replace corroding materials like ToR steel or expensive ones like food-grade stainless steel." Shashi Shekhar, who now serves as Vice Chairman of Acme Group, noted that the Government of India's Green Hydrogen Mission is pushing for decarbonization of the steel industry. "By aligning with the IIT Alumni Council, we plan to develop green steel alloys that are cost-effective, sustainable, and suitable for high-performance applications like additive manufacturing and specialized equipment." Industry Progress and Global Partnerships: Recently, Outokumpu delivered its first batch of specialty powdered stainless steel for 3D printing applications such as heat exchangers and aerospace components. "It's remarkable that the IIT Alumni Council foresaw this trend and began building the ecosystem early--spanning AI-driven material innovation to carbon-free green steel production," said Mr. Y.P.S. Suri, former MD of Outokumpu India and IIT Kharagpur alumnus. "We are entering a new paradigm. I look forward to seeing the world's first process plant built entirely through additive manufacturing." Gratitude to Visionary Contributors: "The development of the AMAT AI Platform wouldn't be possible without the unwavering support of India's top corporations and visionary leaders," said Satish Mehta, Convenor of the IIT Alumni Social Fund. He acknowledged contributions from: Tata Group, Birla Group, Jindal Group, L & T, Reliance, Adani, ArcelorMittal, Ocior, Acme, Coal India, HPCL, among others. He also thanked key members of the National Solar Task Force, including: Padma Shri Prof. Ashok Jhunjhunwala, Prof. Juzer Vasi, Prof. Dinesh Kabra, and Prof. Anil Kottanthayil, for their guidance in the context of photovoltaics. A special mention was made for the Distinguished Fellows of the IIT Alumni Council, including: AI Chief Mentor Prof. Jyoti Joglekar and Silicon Valley collaborators Dr. Rohinton Dehmubed and Dr. Milind Kulkarni "Their thousands of hours of effort and deep domain expertise have been instrumental. We thank each one of them." Interested industry partners may write to applications@ on or before June 30, 2025 About IIT Alumni Council IIT Alumni Council is the largest global body of alumni across all the twenty-three IITs. The Council aggregates the technological and philanthropic resources of over 50,000 alumni spread across one hundred city chapters. The IIT Alumni Council aspires to catalyse India's technological renaissance. The Council supported initiatives are funded through the IIT Alumni Social Fund. Council members are aligned with the various mission organisations (social fund, alumni outreach and longevity missions) and mission facilitators (startup incubator, project management & advisory forum and research institute) About IIT Alumni Research Institute IIT Alumni Research Institute is a mission organisation of the IIT Alumni Council. With over 500 distinguished fellows, over 250 industry partners and close to 100 academic partners - the Alumni Research Institute is establishing centres of excellence across twenty identified target industries, covering all the 64 advanced critical technologies.
The Journal
24-05-2025
- Business
- The Journal
Ireland's new gambling watchdog is up and running, but its strict laws won't apply until 2026
LICENCING IRELAND'S LUCRATIVE gambling industry under strict regulations will not begin until the middle of 2026, over a year after the appointment of a new regulatory body. As a result, a Social Impact Fund that will invest in services that help people with problem gambling habits using registration duties, fine and penalty money from licence holders will not be operational until the first companies are registered. The Gambling Regulation Authority of Ireland (GRAI), which The Journal re ported was set up without an activation timeline , will be in charge of collecting the money for the fund and granting gambling licences under strict new rules. In March, the figureheads of the organisation were formally appointed to their positions by Justice Minister Jim O'Callaghan, with senior civil servant Paul Quinn appointed as chair of the authority. Despite this, the multibillion-euro gambling industry is still not subject to the strict laws and won't be until next year. Responding to a parliamentary question from Labour TD Mark Wall, O'Callaghan said the GRAI's new licencing regime will not get underway until mid-2026. It is only then, he said, that the social impact fund will be funded. O'Callaghan said the development and rollout of the social impact fund is a 'key priority' for the GRAI, which will have 35 employees in place by the end of this year. A consultation process on the social impact fund has only recently concluded. Wall told The Journal : 'People who are dealing with gambling addiction desperately need the Social Impact Fund operational as soon as possible.' Advertisement He said the fund – which will invest in educational and awareness initiatives, research and training – must be established as soon as possible. He pointed to recent research that found over 20% of Irish 16-year-olds, mostly boys, have gambled in the last year. 'This is not just a statistic; it's a reflection of the real and growing crisis affecting our youth,' Wall added. O'Callaghan outlined to the Kildare South TD that licence holders will contribute to the fund at a rate based on a percentage of their annual turnover. 'Public and private bodies which support people with experience of gambling harm and/or gambling addiction through treatment will also benefit from the fund,' O'Callaghan added. Following the commencement of the GRAI's work, staffing levels will increase through 2026 and 2027 and the new laws become fully operational. Among the measures to be introduced under the new Gambling Regulation Act 2024 is a ban on free betting opportunities for individual users, a ban on the use of credit cards to lodge money into gambling accounts and stricter regulations on advertising. Gaming companies will be required to verify the identity of their users through requesting photo identification, and the law will also make it an offence for users to create gambling accounts for those under the age of 18. The Journal previously reported that the only section of the law that has been enacted is the legislation activating and formally establishing the regulatory body, the GRAI. This means the industry is in no way legally required to make operational changes at this time. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
CBC
21-02-2025
- Business
- CBC
Farhi partners with London Community Foundation to pitch empty properties as housing
Social Sharing Three decades after it rose at the corner of Dundas and Richmond Streets, only one tenant now calls London's Market Tower home — a lone mobile phone retailer on the ground floor. Next door, an older 14-storey building has loomed empty over the skyline after its namesake tenant, Royal Bank of Canada, moved out in 2019. A two-storey annex in between is also vacant. All told, it's roughly 28,000 square metres of building space sitting unused in the heart of London at a time when local leaders are grappling with a housing and homelessness crisis. The buildings' owner and a long-time London charity are hoping to change that. Farhi Holdings Corp. (FHC) and London Community Foundation (LCF) say they're working to find one or more non-profits interested in buying the properties and making them affordable housing. "With Farhi, we are aware that he has significant holdings in the downtown area," said Diane Silva, LCF's president and CEO. "With the rise of remote work, and the city launching this plan of converting office units into housing, I think that's where the magic happened, and the concept of us partnering together." The ambitious plan is outlined in a Request for Expressions of Interest document, or REOI, posted online last week by the city, aimed at gauging interest from qualified organizations. Submissions close in mid-March. Three other downtown Farhi properties are also in the proposal, including the former downtown Rexall, the former London Free Press site, and a neighbouring surface parking lot. "This initiative continues in my father's nearly 40-year tradition and legacy of giving back to the community with significant philanthropic initiatives and contributions," said Ben Farhi of FHC. "We recognize the urgent need for affordable housing. We further believe partnering with the right organizations, like LCF and others, is key to delivering meaningful impact to specific sites, and we're proud to work alongside the great people at LCF." In a statement, the city stressed it was not buying or establishing development plans in relation to the properties involved. "The results will be collected and assessed for viability, and if something tangible comes out of the proposals, a subsequent procurement may be issued to solidify partnerships and commitments from the City of London." It comes as London's core commercial vacancy rate hovers around 26 per cent, and as the city works to build 3,000 affordable units by the end of 2026, and 47,000 units overall by 2031. According to the proposal, interested parties would purchase one or more properties from FHC, and obtain funding from LCF to facilitate buying and repurposing them for housing, including affordable units. Funding from LCF would come through its $25 million Social Impact Fund, which provides low-interest loans to fast-track affordable housing projects, LCF's website says. Silva said LCF's interim, friendly financing would allow the non-profits to start developing while they wait for other funding. As part of the proposal, FHC would offer the properties "as a partnership contribution, at a significant discounted price," providing a 10 per cent donation of a property's fair market value for a tax receipt, the REOI says. Further, FHC was willing to offer a "vendor take back" mortgage at 80 per cent loan-to-value of the balance for one year at zero per cent interest, the document said. Appraisals commissioned by FHC describe Market Tower and the former RBC building as shell structures suitable for renovation. Last summer, FHC floated the properties as a potential new city hall location, a proposal council rebuffed in a 10-4 vote. Both are older " Class B" buildings valued, as is, at $19.8 and $26.7 million, respectively, the documents say. The former Free Press building site is valued at nearly $38 million. Applicants would have to commit to at least 30 per cent of units at an affordable rent, the REOI says. It proposes the city provide funding through its Roadmap to 3,000 action plan. Other incentives are available, it says, including an office-to-residential conversion fund. The city is already putting up dollars for two downtown projects, including the former Rexall. FHC sold 166 Dundas St. last year, but Farhi said it had since retaken ownership, with plans to develop 32 units, "finishing what the original group that bought it started." "We've taken it back on ourselves, and we're moving forward," he said. Separately, Farhi said FHC was in the process of three conversion projects in downtown, details of which were not public yet.
