February 25, 2021 - No. 15 In This Issue : JetBlue Technology Ventures’ Portfolio Company Joby Aviation to List on NYSE Through Merger with Reinvent Technology Partners : Altair Acquires Flow Simulator; an Integrated Flow, Heat Transfer, and Combustion Design Software, from GE Aviation, to Expand into New Industries : NASA offers steps to reduce aviation emissions : U.S. airline CEOs to meet with White House on cutting carbon footprint : Lehmann Aviation in talks to sell Flying Wing Drone technology : Watchdog Faults FAA For 'Significant Misunderstanding' Of Flight System : COVID-19 has Changed the IT Spending Priorities for Airports and Airlines in 2020 : FAA switching to new air traffic patterns in Las Vegas area : Europe's Falck in partnership with Silicon Valley's Kitty Hawk : Valent Low-Carbon Technologies Secures Investment from World Energy : SpaceX swapping out engine on Starship SN10 prototype ahead of test flight JetBlue Technology Ventures’ Portfolio Company Joby Aviation to List on NYSE Through Merger with Reinvent Technology Partners SAN CARLOS, Calif.--(BUSINESS WIRE)--JetBlue Technology Ventures (JTV), the corporate venture capital subsidiary of JetBlue Airways (NASDAQ:JBLU), today congratulates its portfolio company Joby Aviation (Joby) on the announcement of its merger with special purpose acquisition company Reinvent Technology Partners (Reinvent). Once finalized, the combined company will be named Joby Aviation, and its common stock is expected to be listed on the New York Stock Exchange for public trade. Joby is building a fully-electric vertical take-off and landing (eVTOL) passenger aircraft that it intends to operate for commercial use in the U.S. beginning in 2024. The piloted, four-passenger aircraft is faster than existing rotorcraft, flies 150 miles on a single charge, and will be 100 times quieter than existing rotorcraft or small planes during takeoff and landing. “At JetBlue Technology Ventures, we are excited about the transformative potential of eVTOLs and have always believed that Joby Aviation is the most advanced company in this emerging sector. This next step in Joby’s journey will ultimately deliver sustainable transportation that is safe and affordable for everyone,” said Amy Burr, Managing Director of Operations & Partnerships at JTV. JTV’s initial 2017 strategic investment in Joby aligns with its commitment to identifying transportation solutions powered by alternative propulsion systems. “As with all of our investments, JetBlue Technology Ventures’ goal is to better position JetBlue with startup-led innovation that could radically change the travel industry. Travelers today are more conscious of their carbon footprint than ever before, so the reduction of pollution that comes with electrification is highly appealing,” said Raj Singh, Managing Director of Investments at JTV. “The regional transportation ecosystem is ripe for disruption, and startups like Joby Aviation will revolutionize how people move across urban areas. Joby’s vehicle platform will be the standard to beat. Nearly four years ago, we saw that Joby already was the emerging leader in the eVTOL space, and today’s developments validate our early investment,” said JTV founder Bonny Simi. The announcement follows Joby’s recent successes in 2020, including becoming the first company to receive an eVTOL certification basis plan with the Federal Aviation Administration and receiving the U.S. Air Force’s first ever airworthiness approval for an eVTOL aircraft. Additional information about the proposed transaction will be provided in a Current Report on Form 8-K to be filed by Reinvent today with the Securities and Exchange Commission and available at www.sec.gov. About JetBlue Technology Ventures JetBlue Technology Ventures invests in and partners with early stage startups innovating in the travel, transportation, and hospitality industries. The company prioritizes investments that advance the seamless customer-centric journey; technology powered customer service; the future of operations and maintenance; distribution, loyalty, and revenue management; and evolving regional travel. Founded in 2016, JetBlue Technology Ventures is a wholly-owned subsidiary of JetBlue (NASDAQ: JBLU) and is located in Silicon Valley, California. For more information, visit www.JetBlueVentures.com. About Joby Aviation Joby Aviation is a California headquartered transportation company developing an all-electric vertical takeoff and landing aircraft which it intends to operate as a fast, quiet, and affordable air taxi service beginning in 2024. The zero emissions aircraft, which is quiet at takeoff and near silent when flying overhead, can transport four passengers and a pilot up to 150 miles on a single charge and can cruise at 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs more than 700 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com. About Reinvent Technology Partners Reinvent Technology Partners is a newly formed special purpose acquisition company led by Reid Hoffman, Mark Pincus and Michael Thompson, that takes a “venture capital at scale” approach to partnering with bold leaders and companies. RTP will support a technology business to innovate and achieve entrepreneurship at scale by leveraging its team’s operating expertise as founders of iconic technology companies, their experience building companies as advisors and board members, and the capital raised in its initial public offering. https://www.businesswire.com/news/home/20210224005676/en/JetBlue-Technology-Ventures%E2%80%99-Portfolio-Company-Joby-Aviation-to-List-on-NYSE-Through-Merger-with-Reinvent-Technology-Partners Altair Acquires Flow Simulator; an Integrated Flow, Heat Transfer, and Combustion Design Software, from GE Aviation, to Expand into New Industries TROY, Mich., Feb. 24, 2021 /CNW/ -- Altair, (Nasdaq: ALTR) a global technology company providing software and cloud solutions in the areas of simulation, high-performance computing (HPC), and artificial intelligence (AI), today announced that it has acquired Flow Simulator from GE Aviation. Flow Simulator is an integrated flow, heat transfer, and combustion design software, which enables mixed fidelity simulations to optimize machine and systems design. As part of the acquisition, Altair and GE Aviation have signed a memo of understanding (MOU) to facilitate a higher level of collaboration and establish a long-term strategic partnership. The relationship will include Altair's continuous development of Flow Simulator; granting GE Aviation access to Altair's complete software suite to explore enhanced functionality aligned to real-world use cases and workflows; and ongoing executive engagement between both parties to establish deeper strategic alignment and pursue new ventures. "We successfully collaborated with GE Aviation for many years on several initiatives including rotor dynamics using Altair OptiStruct, which opened doors for new opportunities to work together. We value our strong relationship with GE Aviation as we join forces to drive innovation for aircraft engines and beyond," said James R. Scapa, founder and chief executive officer, Altair. "Utilizing Altair's simulation and AI-driven approach to innovation, there is great potential to expand Flow Simulator's capabilities and make it available to new industries focused on simulating systems models including automotive, electromobility, battery, defense, and renewable energy." "Altair will bring Flow Simulator's capability to simplify the modeling of complex thermal systems to new industries. This will expand global technical capabilities," explains Arjan Hegeman, senior executive – Technology, GE Aviation. "Concurrently, GE Aviation and Altair will continue developing Flow Simulator together, with even more advanced simulation technologies and design tools that will continue to expand its capabilities for a broader base of users." System-level design has become increasingly critical as organizations are tasked with simulating complex duty cycles. Fast software solutions like Flow Simulator are needed to model an entire system, including rapid iteration concept modeling and understanding of system simulation and system behavior in applications such as rotating machinery design, electromobility, wind turbines, heat exchangers, and virtually anything that encompasses thermal management. GE Aviation developed Flow Simulator to serve as a fast flow network simulator for aircraft engines – simulating how an entire flight cycle would behave in the real world, from runway and take off to flight and landing. Since its inception, it has been used to simplify modeling for a variety of complex thermal systems applications, including healthcare, locomotives, and renewable energy. Prior to acquiring the technology, Altair was a commercial distributor of Flow Simulator, which was available through the Altair Partner Alliance (APA). Key features of Flow Simulator include: Fully-coupled flow/thermal network modeling – An extended library of preconfigured elements and components leveraging a large set of publicly-available experimental data for pressure drop and heat transfer characteristics. Control system module – Proportional integral derivative (PID) controllers, feedforward, and missions can be integrated with flow/heat transfer models to optimize the simulated-machine operation during cycle/mission analysis. Optimization module – Monte Carlo, Optimal Latin Hypercube, and N-factorial analyses quickly explore the entire design space of a 3D modeling environment. An analytical model can be parametrized based on flow configuration, shape, dimension, and thermal characteristics to achieve an optimal cost-benefit design. User-defined elements – Ability to integrate a customer's own IP and element formulations using UDE creator supported in flexible python scripting as well as with Fortran language. APIs are provided an option to connect Flow Simulator with external software for multidisciplinary analyses. Intuitive interface – A modern interface for pre, post, solve, and optimization. The three-dimensional design environment gives users the ability to overlay/integrate the network model with 3D computer-aided design (CAD) while integrating a customer's IP and element formulations seamlessly. For more information about Flow Simulator, visit https://www.altair.com/flow-simulator/. About Altair (Nasdaq: ALTR) Altair is a global technology company that provides software and cloud solutions in the areas of simulation, high-performance computing (HPC), and artificial intelligence (AI). Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit www.altair.com. About GE Aviation GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of jet and turboprop engines, components, integrated digital, avionics, electrical power and mechanical systems for commercial, military, business and general aviation aircraft. GE Aviation has a global service network to support these offerings and is part of the world's Digital Industrial Company with software-defined machines and solutions that are connected, responsive and predictive. For more information, visit us at https://www.ge.com/aviation. Follow GE Aviation on Twitter at https://twitter.com/GEAviation and YouTube at https://www.youtube.com/user/GEAviation. http://www.iosconews.com/news/state/article_9e82e7eb-b177-5f11-94d0-9c7fbaafd8e3.html NASA offers steps to reduce aviation emissions NASA is seeking proposals for ground and flight demonstrations of integrated megawatt-class powertrain systems for subsonic aircraft. The deadline for proposals for this solicitation is 5 p.m. EST April 20. The demonstrations will help rapidly mature and transition integrated Electrified Aircraft Propulsion (EAP) technologies and associated EAP vision systems for introduction into the global fleet by 2035. Integrated EAP concepts are rapidly emerging as potentially transformative solutions to significantly improve the environmental sustainability of the next generation of subsonic transport vehicles. EAP electrical systems are being developed to replace or boost fuel-burning aircraft propulsion systems, analogous to how electric or hybrid motors are used in automobiles. “The release of this request for proposals represents an important next step as NASA partners with industry to further mature critical EAP technologies through demonstrating integrated megawatt-class powertrain systems in flight,” said Lee Noble, NASA’s Integrated Aviation System Program director. “These flight demonstrations have strong applicability to sustainable and highly-efficient aircraft powertrain systems that will facilitate continued U.S. competitiveness for the next generation of commercial transport aircraft.” Though partnerships with U.S. industry, NASA intends to accelerate integrated megawatt-class powertrain system maturation and transition to the global fleet, as well as identify and address gaps in regulations and standards and acquire necessary ground and flight test data to advance design and modelling tools pertinent to future aircraft products with an EAP system. NASA and industry studies have shown that EAP concepts can reduce energy use, carbon and nitrogen oxide emissions, and direct operating costs resulting in benefits for both the public and the airline operators. NASA and its industry partners have identified turboprops, regional jets, and single aisle aircraft serving the thin-haul (very short flights), regional, and single-aisle markets as targets of opportunity for this technology. To turn the promise of EAP benefits into reality, NASA’s Aeronautics Research Mission Directorate has made a critical commitment to demonstrate practical vehicle-level integration of megawatt-class EAP systems, leveraging advanced airframe systems to reinvigorate the regional and emerging smaller aircraft markets, and to strengthen the single-aisle aircraft market. The Electrified Powertrain Flight Demonstration project directly supports retaining U.S. leadership in the aerospace manufacturing sector, the largest net-exporter of all U.S. manufacturing sectors. https://www.aerospacemanufacturinganddesign.com/article/nasa-offers-steps-reduce-aviation-emissions/ U.S. airline CEOs to meet with White House on cutting carbon footprint WASHINGTON (Reuters) - The chief executives of major U.S. airlines are set to meet virtually with two key White House advisers on Friday about efforts to reduce carbon emissions and use renewable fuels, five people briefed on the matter told Reuters. The CEOs of American Airlines, United Airlines, Delta Air Lines and Southwest Airlines are among those who have been invited to meet with White House National Climate Adviser Gina McCarthy and economic adviser Brian Deese to discuss environmental issues related to air travel, including using greener fuels to power air travel. The White House and a spokeswoman for a group representing the airlines declined to comment. McCarthy told Reuters earlier this month she had started discussions with the utility and automobile sectors about reducing greenhouse gas emissions. She said the talks were part of a broad effort by the Biden administration to engage every federal agency to decarbonize the U.S. power sector by 2035 and the whole economy by 2050. Last week Reuters reported U.S airlines and renewable energy companies are lobbying the Biden administration to back a big increase in subsidies for lower-carbon aviation fuel. They say new incentives are needed to help fight climate change. Air travel contributes around 2% of global greenhouse gas emissions, the Air Transport Action Group said. That percentage is expected to rise rapidly in coming decades if airlines do not quickly switch to "sustainable aviation fuel." Such fuel is made from biologically sourced wastes like old cooking oil, animal fat and plant oils. It is much more expensive than traditional jet fuel. Speaking at an Axios event on the future of green travel, United Airlines Chief Executive Scott Kirby said the R&D investments needed to get the whole economy to net-zero emissions will require government support. United has committed to a multimillion-dollar investment in carbon capture, a technology designed to suck carbon dioxide from the atmosphere, as part of a plan to be 100% green by 2050. Industry trade group Airlines for America told Reuters previously it has also been in contact with the Biden administration’s climate change officials to discuss expanding the sustainable aviation fuel market. Currently, A4A members use only about 1.5 million gallons of green plane fuel in the United States a year, out of a total commercial jet fuel market that exceeds 620 million barrels annually. (One barrel of jet fuel contains 42 gallons.) Several other countries have already proposed sustainable aviation fuel mandates or are exploring them as a means of addressing increasing carbon output from air travel. A mandate in Norway came into force in January 2020, while the Netherlands is set to have one in place by 2023. European requirements are expected to be addressed at the White House meeting. Globally, more than 250,000 flights have run on sustainable aviation fuel since 2016, while an estimated 10.6 million gallons were produced in 2020, the International Air Transport Association said. Chicago-based Boeing Co has committed to fly with 100% sustainable aviation fuels by 2030, it said in January. https://www.streetinsider.com/Reuters/Exclusive%3A+U.S.+airline+CEOs+to+meet+with+White+House+on+cutting+carbon+footprint/18027996.html Lehmann Aviation in talks to sell Flying Wing Drone technology UAS manufacturer, Lehmann Aviation, has said it is in discussions to sell its Flying Wing Drone technology and refocus its strategy on larger utility aircraft. “As we are switching our strategy to focus on larger drones, we are now in discussion with few organisations that are interested with small flying wing solutions,” the company said in a statement. “Our fully operational system is coming with a world class design. Discussions are in progress to sale manufacturing tools with autopilot and control software technology licenses.” Lehmann Aviation said it is now developing new unmanned aerial systems dedicated to logistic markets. Lehmann Aviation has been developing drone technology or 15 years and sells products to both government and commercial customers. https://www.commercialdroneprofessional.com/lehmann-aviation-in-talks-to-sell-flying-wing-drone-technology/ Watchdog Faults FAA For 'Significant Misunderstanding' Of Flight System The Federal Aviation Administration must address "weaknesses" in its oversight of Boeing that led the agency to miss flaws that contributed to two deadly crashes involving the Boeing 737 Max aircraft, a federal watchdog has found. An inspector general's report from the Department of Transportation said U.S. aviation regulators do not understand the plane's flight control software that caused two devastating crashes in 2018 and 2019. A Lion Air flight crashed off the coast of Indonesia in October 2018, killing all 189 passengers and crew members. A second crash of an Ethiopian Airlines plane occurred in March 2019, killing all 157 people on board. The 737 Max was grounded for nearly two years. Boeing has since redesigned the aircraft, and the FAA has certified it to return to the skies. But the inspector general concluded the FAA's approach to analyzing the integration of new technology to existing aircraft designs must be improved. The 63-page report released Wednesday is the product of a review ordered by former Secretary of Transportation Elaine Chao. It recommends 14 changes the FAA must make "to restore confidence." The agency says it agrees with the suggestions and has plans to implement all of them, but indicated it could take five years to do so. Boeing said in a statement in response to the report, "We have undertaken significant changes to reinforce our safety practices, and we have already made progress on several of the recommendations outlined in the final report." The report also faulted FAA management for being "too deferential to Boeing," and urged the agency to ensure people tasked with inspecting Boeing are properly independent. "Some FAA staff cited instances in which they thought FAA managers shared their position during internal meetings, but made decisions in Boeing's favor after discussing with the company," the report said. The Boeing 737 Max returned to U.S. skies last December. The plane was cleared to fly again in Europe a month later. https://www.npr.org/2021/02/25/971240006/watchdog-faults-faa-for-significant-misunderstanding-of-flight-system COVID-19 has Changed the IT Spending Priorities for Airports and Airlines in 2020 GENEVA – Feb. 24, 2021 – The COVID-19 pandemic has refocused IT spending priorities for airlines and airports in 2020 as revenue plunged and the industry faced new health and operational requirements needed to keep flying. Among the key findings from SITA’s 2020 Air Transport IT Insights, published today, was an accelerated investment in automated passenger processing focusing on touchless and mobile services. There was also a strong focus on virtual and remote IT services that allowed employees to work from home while ramping up communications with passengers. Cybersecurity and cloud services – that helped automate operations and drive new efficiencies – were key. In 2020, SITA data showed that flight volumes plunged 44% year-on-year due to the pandemic. As a result of this impact on demand, IATA forecast the airline industry's full-year loss at $118 billion. David Lavorel, CEO SITA at airports and borders, said: "The severe slowdown in 2020 forced the air transport industry to focus on driving new cost efficiencies. Adding to the pressure, airlines and airports had to rapidly incorporate new health measures such as touchless passenger processing and the handling of new health information and protocols, including PCR testing in many destinations. These efforts have been made in a market that continues to face rapid changes in air travel regulations that make operational planning volatile and last minute. "To solve these challenges, the industry has turned to technology and, in many cases, reprioritized where they invested in 2020. The good news is that airlines and airports were able to capitalize on existing trends to automation and have made significant strides in implementing new solutions that will bring new improvements for the passenger now and into the future.” Data and Automation are Key Making the check-in process completely touchless is now the main priority for airports and airlines to help protect passengers and staff, improve the passenger experience, and drive efficiency. Biometric technology is the focus for airport investment with 64% of airports aiming to roll out self-boarding gates using biometric & ID documentation by 2023, three times as many as in 2020. Airlines have doubled implementations and plan to double investment for self-boarding using biometric & ID documentation by 2023 (82%). Similarly, airlines are prioritizing a completely touchless check-in process, and most want mobile touchless payment options for all services provided. The majority (79%), is focused on enabling self-bag drop for passengers. All essential customer services will become contactless from booking to arrival, including automated lounge access and mobile delayed baggage reporting. Airline mobile applications for passenger services is a priority with nearly all (97%) of airlines having major programs and R&D in place by 2023. By 2023 the majority of airlines plan to send passengers real-time notifications on their mobile devices about their bags and plan to provide real-time bag-tracking information for staff. Virtual IT Services In response to the pandemic, most airlines and airports are investing more in in-house virtual and remote IT services allowing employees to work in a more agile and effective way while speeding up communications with passengers. Almost three-quarters of airports and airlines will continue to invest in data exchange, cloud services, cybersecurity, and business intelligence to accelerate their digital airport processes. This includes increasing services on passenger mobile apps and ensuring staff services are accessible via mobile or tablets. The full report, including methodology and charts, can be found here. https://www.aviationpros.com/airports/airport-technology/press-release/21211569/sita-covid19-has-changed-the-it-spending-priorities-for-airports-and-airlines-in-2020 FAA switching to new air traffic patterns in Las Vegas area LAS VEGAS (AP) — New air traffic patterns are going into effect in southern Nevada as part of a switch to satellite navigational guides in what the Federal Aviation Administration calls its “NextGen” modernization to improve efficiency and safety. Beginning Thursday, some flight patterns will change for arriving and departing aircraft in an area including McCarran International Airport, two busy Las Vegas-area general aviation airports and Nellis Air Force Base. The air space around McCarran becomes the 10th of 11 so-called FAA “metroplex” areas around the country to enact next-generation traffic patterns, agency spokesman Ian Gregor said Tuesday. Using satellite technology replaces decades-old ground-based navigation systems and beacons, Gregor said. Atlanta, Denver, Houston, Northern California, Southern California and Washington are among others metropolitan areas where the agency has revised flight paths under the progra m. The agency plans later this year to implement a metroplex air traffic plan around 21 airports in central and southern Florida. McCarran, located adjacent to the Las Vegas Strip, is in the process of being renamed after former Nevada U.S. Sen. Harry Reid. It handled a record 51.5 million passengers in 2019, mostly tourists, and ranked as the ninth-busiest passenger airport in the U.S. Current flight routes are safe, the FAA said. But revised takeoff and landing paths were designed to be more efficient, while separating McCarran, North Las Vegas and Henderson Executive airport traffic, reducing airline fuel costs and pollution, and improving communication between pilots and air traffic controllers. The FAA also cites air traffic challenges posed by mountainous terrain around Las Vegas and large blocks of restricted military airspace over central Nevada. The revisions received several years of study. Flight path changes have drawn safety and noise complaints in other cities, including Phoenix, where residents of historic neighborhoods won a court fight and the FAA in 2017 changed some Phoenix Sky Harbor International Airport departure routes. In Las Vegas, court fights more than a decade ago over a McCarran flight pattern dubbed the “right turn” ended with a 9th U.S. Circuit Court of Appeals ruling in 2009. The court decided the FAA did not arbitrarily or capriciously design the departure path over the suburban Summerlin neighborhood. https://www.bigrapidsnews.com/news/article/FAA-enacting-NextGen-air-traffic-maps-in-Las-15975928.php Europe's Falck in partnership with Silicon Valley's Kitty Hawk SILICON VALLEY, Calif., Feb. 24, 2021 /PRNewswire/ -- Emergency response and healthcare company Falck today announced a collaboration with Silicon Valley's Kitty Hawk, a company pioneering all-electric Vertical Takeoff and Landing (eVTOL) aircraft. The companies will establish a joint innovation platform creating a framework for Project Heaviside, Kitty's Hawk's latest high performance aircraft, to be used in emergency response operations. The new collaboration adds to Falck's drone initiative, Vertical, which aims to assess the potential of drone technology in the prehospital and ambulance services of the future. With Kitty Hawk's Project Heaviside, the company plans to test and evaluate new technologies on a large scale, making emergency healthcare more accessible and affordable. Kitty Hawk brings a world-class team with decades of experience in commercial aviation, aerospace, automotive engineering, flight test and industrial design to the partnership. Project Heaviside is designed to be fast, small, and exceedingly quiet. Kitty Hawk has built 13 prototypes of the eVTOL aircraft and has completed over 700 test flights. "The agreement with Kitty Hawk takes us to the next level in our commitment to integrate eVTOLaircraft into our ambulance operations. Kitty Hawk brings the technology, while we at Falck contribute with our ambulance service area as a use case. This combination gives us the best conditions to investigate how we can jointly unleash the potential of new technology and develop the ambulance-borne health solutions which are likely to set the standard in the near future," said Jakob Riis, CEO of Falck. "We are excited to be working with Falck to collaborate on bringing our Heaviside aircraft for emergency services, first in Denmark and then to other areas, " said Sebastian Thrun, cofounder and CEO of Kitty Hawk. "Falck is an innovative leader in the area and this agreement marks a first and important step in making eVTOL available to more people." The priority of the new partnership is to develop a framework for the integration of Heaviside into emergency services. This will enable eVTOL aircraft to be an addition to Falck's services, increase flexibility and reduce emergency response time, and overall contribute to Falck's continuous development of their services within the prehospital and ambulance area. Falck expects to introduce Heaviside in a close collaboration with customers in Denmark, Europe followed by the United States. About Falck We care for the well-being of people and excel in saving and improving lives of people in urgent need. This has made Falck an international leader in emergency response and healthcare. For more than a century, Falck has worked with local and national governments to prevent accidents, diseases and emergency situations, to rescue and assist people in emergencies quickly and competently and to rehabilitate people after illness or injury. Falck operates in 30 countries and has more than 27,000 employees. About Kitty Hawk Kitty Hawk was founded in 2010 with the mission to free people from traffic. The company, located in Palo Alto, designs, develops and builds ground breaking all-electric Vertical Takeoff and Landing (eVTOL) aircraft. https://www.prnewswire.com/news-releases/europes-falck-in-partnership-with-silicon-valleys-kitty-hawk-301234870.html Valent Low-Carbon Technologies Secures Investment from World Energy TORONTO, BOSTON, February 24, 2021 /EINPresswire.com/ -- Valent Low-Carbon Technologies, a diversified energy technology company, today announced that it has secured an investment from World Energy LLC. The funding supports upcoming deployments of novel, commercial-scale renewable fuels production technologies to meet growing demand for low-carbon intensity fuels. World Energy, a green energy solutions provider, empowers leaders in the transportation sector to make meaningful and immediate progress toward cutting carbon emissions. Since 2019, Valent has progressed new technology integration opportunities across World Energy’s sites. The investment from World Energy boosts Valent’s ability to deploy numerous emerging fuel technologies that decarbonize or replace conventional diesel across aviation, marine and land transport. “Having World Energy as a shareholder and advisor accelerates our ability to deploy our technology solutions in relevant field environments,” said Tim Haig, CEO, Valent. “We both see the opportunity for market-ready low-carbon intensity renewable fuels that require no special blending or new infrastructure.” “Driving the frontier of sustainable transport is a team game requiring close collaborations across businesses,” said Gene Gebolys, CEO, World Energy. “We have long supported the excellent, early-stage technology development work the Valent team is doing. We are thrilled to be teaming up even more closely with them now as the urgency to find better solutions increases every day.” As part of the transaction, several Valent shareholders, namely Hartley Richardson, CEO of James Richardson & Sons and John Risley’s CFFI Ventures increased their investments in Valent. Valent also welcomed prominent Canadian investor and entrepreneur Jon Love as a new shareholder. The total cumulative funding at Valent and across its technology portfolio now exceeds $150 million. About Valent Low-Carbon Technologies Valent is an energy technology company focused on aggregating and building out net-zero fuels for aviation, marine and heavy land transport applications. Valent convenes a coalition of energy industry stakeholders, institutional investors and seasoned entrepreneurs to deploy new low-carbon energy innovations such as sustainable aviation fuel, low-sulphur marine fuels, green hydrogen and renewable diesel. For more information, visit www.valentcorp.com. About World Energy World Energy exists to deliver ever better solutions at scale to those leading the push to lower carbon emissions in transport. World Energy partners with business leaders committed to net-zero goals to create customized green energy solutions to address their most difficult carbon challenges. Through its network of low-carbon fuel production facilities and supply chain partners across North America, World Energy enables business growth to be compatible with immediate carbon reductions. For more information, visit www.worldenergy.net https://www.einnews.com/pr_news/535759701/valent-low-carbon-technologies-secures-investment-from-world-energy SpaceX swapping out engine on Starship SN10 prototype ahead of test flight SpaceX is switching out one of the three Raptor engines on its Starship SN10 prototype, likely pushing the vehicle's high-altitude test flight back a bit. The swap decision was made yesterday (Feb. 23), shortly after SN10 ("Serial No. 10") ignited its engines for the first time during a "static fire" test at SpaceX's South Texas facilities. "One of the engines is suspect, so we’re swapping it out," company founder and CEO Elon Musk said via Twitter yesterday. The static fire was part of SN10's prep work for a roughly 6-mile-high (10 kilometers) test hop into the Texas skies, which could have happened as early as Thursday (Feb. 25). The engine swap will probably delay the flight a bit, but it's unclear how much; Musk did not mention a new timeline. SN10 will be the third Starship prototype to fly so high. The SN8 and SN9 vehicles performed similar flights on Dec. 9, 2020, and Feb. 2, respectively. Both flew well until the end, checking off many milestones before crashing at the landing zone. Like SN10's, SN9's path to flight included an engine swap. SpaceX replaced two of SN9's three engines after the vehicle performed three static fires in rapid succession on Jan. 13. SpaceX is developing Starship to get people and cargo to the moon, Mars and beyond. The system consists of two reusable elements: a 165-foot-tall (50 meters) spacecraft called Starship and a giant rocket called Super Heavy. The final Starship will have six Raptors, and Super Heavy will be powered by about 30 of the engines, Musk has said. SpaceX wants a Starship prototype to make an orbital test flight sometime this year. And Musk recently said that he thinks the final vehicle will be operational by 2023. https://www.space.com/spacex-starship-sn10-engine-swap Curt Lewis