Category Archives: Technology

Inside Amazon's first Amazon Fresh grocery store in Los Angeles.

Amazon

Amazon's cashierless checkout technology could soon be coming to its growing line of Fresh grocery stores.

Features of Amazon's automated checkout technology, called "Just Walk Out," appear in planning documents for a store under construction in a suburban shopping plaza in Brookfield, Connecticut. The technology allows customers to skip the checkout line by tracking any items they grab and charging them when they leave.

Amazon declined to comment. News of Amazon's plans was first reported by Bloomberg.

The documents show gated entry and exit lanes at the front of the store, where shoppers would presumably scan an app or credit card as they come in, as well as hardware to potentially house ceiling-mounted cameras that track which items shoppers pick up in the store. The documents also mention an electronic shelving system, a feature Amazon has deployed in its Fresh and cashierless Go convenience stores.

Additionally, a large staging area appears at the front of the proposed store layout. Fresh stores have a dedicated section where customers can pick up amazon.com or grocery orders placed online or return their packages for free.

It's unclear if the store will incorporate other high-tech elements featured in Fresh stores, such as its recently launched Dash Carts, which are smart shopping carts that let shoppers check out without waiting in line.

In September, Amazonopenedits first Fresh grocery store in Los Angeles' Woodland Hills neighborhood. It hassince openeda dozen stores, located in southern California and in several suburbs of Chicago. The company also plans to open a handful of stores on the East Coast.

If Amazon ends up launching cashierless checkout technology in Fresh stores, it would represent an industry feat. Start-ups such as Standard Cognition, AiFi and Grabango have all developed autonomous systems for retailers, but widespread adoption has been slow, as the technology remains costly and challenging to deploy in large store formats.

Amazon Fresh stores are roughly 35,000 square feet, or about the size of a store in Amazon's other grocery chain, Whole Foods. The format incorporates a blend of in-store and online shopping, while offering consumers a variety of products at lower price points than the largely upscale options offered at Whole Foods.

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Amazon's cashierless checkout technology is coming to its new supermarkets - CNBC

MELBOURNE, Australia, April 22, 2021 /PRNewswire/ -- Verrency today announced that it ranked Number 15 on the Deloitte Technology Fast 500 Asia Pacific 2020, a ranking of the 500 fastest growing technology companies in Asia Pacific. Rankings are based on percentage revenue growth over three years. Verrency grew 2,752% percent during this period. Verrency was the highest-ranking Australian company on the index.

Verrency's CEO & Founder, David Link, credits the company's modern technology platform, dedicated global team, and Verrency's ability to meet the exponentially increasing need for banks to differentiate themselves around the moment of payment with the company's 2,752% revenue growth over the past three years. He said, "We are honoured and thrilled to have Verrency recognised by Deloitte as the fastest growing technology company in Australia in their 2020 Fast 500 Ranking. Our commitment to driving payments innovation for banks on the global stage - as an enabling infrastructure SaaS platform - has been core to our operations since Verrency started in 2016."

"Being ranked on the Deloitte Technology Fast 500 is an impressive achievement, especially because today's technology companies are thriving in extraordinarily competitive and changeable environments," said Mike Horne, Asia Pacific Deloitte Private Leader. "We applaud Verrency for being the top ranked Australian company on the index."

Overall, companies that ranked on the Deloitte Technology Fast 500 Asia Pacific 2020 program had an average growth rate of 551 percent.

Deloitte Technology Fast 500 Asia Pacific selection and qualifications

The Technology Fast 500 list is compiled from the Deloitte Asia Pacific Technology Fast 50 programs, nominations submitted directly to the Technology Fast 500, and public company database research. To qualify for the Technology Fast 500, entrants must have had base-year operating revenues of at least US$ 50,000. Entrants must also be public or private companies headquartered in Asia Pacific and must be a "technology company," defined as a company that develops or owns proprietary technology that contributes to a significant portion of the company's operating revenues; or manufactures a technology-related product; or devotes a high percentage of effort to the research and development of technology. Using other companies' technology in a unique way does not qualify.

About Verrency

Verrency puts financial institutions back at the centre of customer engagement. Verrency's highly secure "low-code" industrial-grade payments innovation platform helps issuers to acquire and retain customers and increase payment spend while increasing security, control and connectability. Verrency works behind the scenes to enable new customer experiences and delivery of value-added services for an issuer's customers quickly and easily without major changes to existing payments infrastructure or the need to integrate to point-of-sale systems. Verrency also enables issuing banks and processors to rapidly connect to third-party services via its extensive FinTech ecosystem with little to no integration. For more information, see http://www.verrency.com.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities. DTTL (also referred to as "Deloitte Global") and each of its member firms and their affiliated entities are legally separate and independent entities. DTTL does not provide services to clients. Please see http://www.deloitte.com/about to learn more.

Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. Members of Deloitte Asia Pacific Limited and their related entities, each of which are separate and independent legal entities, provide services from more than 100 cities across the region, including Auckland, Bangkok, Beijing, Hanoi, Hong Kong, Jakarta, Kuala Lumpur, Manila, Melbourne, Osaka, Shanghai, Singapore, Sydney, Taipei and Tokyo.

Deloitte Private is the brand under which firms in the Deloitte network provide services to privately owned entities and high-net-worth individuals.

2020. For information, contact Deloitte Touche Tohmatsu Limited.

SOURCE Verrency

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Verrency Ranked Number 1 Fastest Growing Technology Company in Australia on the Deloitte Technology Fast 500 Asia Pacific 2020 Ranking - PRNewswire

New York, April 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Wearable Technology Market by Product, Type, Application And Geography - Global Forecast to 2026" - https://www.reportlinker.com/p04664172/?utm_source=GNW

The growing demand for wearable technology in applications such as sports and fitness tracking and for multi-featured and hybrid application mobile devices are expected to provide major growth opportunities for the wearable technology market.

The consumer electronics segment recorded the largest shipment of wearable device in 2020The consumer electronics segment registered the largest shipment of wearable devices in 2020.The reason behind the growth of this market is that a majority of consumers use wearable technology products to address their health and fitness tracking needs.

Wearable technology and the development of related mobile apps further increase the benefits of wearable devices (such as smartwatches and smart bands).Furthermore, sports companies are taking the initiatives to develop new fitness-related applications suitable for wristwear.

For instance, Under Armour, Inc. (US), a company developing sports clothing and accessories, launched applications such as MapMyRun, MyFitnessPal, and Endomondo. It also added advanced features such as smart scale and heart-rate fitness tracker to its app. Considering all such developments, the consumer electronics market is expected to register the largest shipments by 2026.

Asia Pacific is the fastest-growing region in the wearable technology marketAPAC is the fastest-growing region in the wearable technology market and is made up of 4 major countriesChina, Japan, South Korea, and India.Applications such as consumer electronics, industrial, healthcare, and textile contribute significantly to the growth of the market for wearable technology in this region.

Asia Pacific has become a global focal point for large investments and business expansion opportunities.In addition, wearable technologies are widely used in oil refineries (for communication and safety purposes).

The major consumer electronics companies operating in APAC include Samsung Group (South Korea), Sony Corp. (Japan), Panasonic Corp. (Japan), and LG Electronics (South Korea).

The breakup of primaries conducted during the study is depicted below: By Company Type: Tier 1 43 %, Tier 2 36%, and Tier 3 21% By Designation: C-Level Executives 38%, Directors 22%, and Others 40% By Region: Americas 45%, Europe 17%, APAC 30% and ROW 8%

Research CoverageThe report segments the wearable technology market and forecasts its size, by volume and value, based on region (Americas, Europe, Asia Pacific, and RoW), Product (Wristwear, Headwear, Footwear, Fashion & Jewelry, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial).The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the wearable technology market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Key Benefits of Buying This Report This report includes market statistics pertaining to the product, type, application, and region. An in-depth value chain analysis has been done to provide deep insight into the wearable technology market. Major market drivers, restraints, challenges, and opportunities have been detailed in this report. Illustrative segmentation, analyses, and forecasts for the market based on product, type, application, and region have been conducted to provide an overall view of the wearable technology market. The report includes an in-depth analysis and ranking of key players.Read the full report: https://www.reportlinker.com/p04664172/?utm_source=GNW

About ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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Wearable technology market was valued at USD 116.2 billion in 2021 and is anticipated to reach USD 265.4 billion by 2026, growing at a CAGR of 18.0%...

HONG KONG, April23, 2021 /PRNewswire/ -- Traditionally, when we talk about sharing economy, people would think about cars, bicycles, mobile rechargers, apartments, or may be even umbrella, toys, etc.All about sharing economy has been some solid tangible things which be shared out to the needed consumer through a rental arrangement.The sharing item will go and come back through physical transactions.But in the digital world, digital products such as digital arts, music, video games are more difficult to control and record the ownership and usagethrough a P2P sharing model.

As the pioneer in the sharing economy market, based on the Sharing Block engine which is the transaction engine based on blockchain technology that Sharing Economy International Inc. (OTCQB:SEII) has developed to handle the transactions of sharing items between people in ECrent today, SEII engineers and technology partners while revamping and improving the ECrent platform and applications, also decides to add NFT technology on top of the Sharing Block engine.NFT technology will allow users to share their digital products and assets to other people, either free of charge, or at a defined fee by the digital product owner.

"NFT gives a breakthrough to the sharing market which allows us not only to share our tangible items, but also any of the intangible digital items," said Parkson Yip, SEII's advisor on corporate development."SEII is always looking for solutions which can improve the ways how people can share.Apart from drills, cars, bicycles, there is always a market need for the sharing of digital products, and ECrent being the platform in helping people to connect through sharing their resources, we must move fast into the digital product sharing market."

"Blockchain technology fits very well with the development of sharing economy solutions.Its secured decentralised ledger concept can help us to develop a secure and trustful P2P sharing solution based on ECrent.With the development of NFT technology, we will be able to extend to facilitate the sharing of digital items between people as well.We can see that NFT will apply to a lot of digital items, as well other items, such as art works, which facilitate the tracing of ownership and transaction history of the items with a very trustful mechanism.While NFT is attaching directly with the products, the information would allow cross-platform support, so items can be shared through different platforms as well, as soon as we all follow the same protocol," says Yip.

Working with technology partners, ECrent will expect to complete and test the new NFT supported model by third quarter of 2021.

About Sharing Economy International Inc.

Sharing Economy International Inc., through its affiliated companies, focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. Moreover, the Company will actively pursue blockchain technology in its existing and to-be-acquired business, enabling the general public to realize the beauty of resource sharing. For more information visit http://www.seii.com

SOURCE Sharing Economy International Inc.

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Sharing Economy International Invests to develop NFT Technology into ECrent to Open Up Digital Items Sharing - PRNewswire

Photo courtesy of Marcelo Worsley

Inclusive Making students present their work at a class expo. McCormick Prof. Marcelo Worsley teaches a class on technology accessibility.

When McCormick Prof. Marcelo Worsley started teaching Inclusive Making in 2017, he wanted to increase technology access to the disability community.

LRN SCI 309 educates students on the historical exclusivity of creative design spaces and challenges them to construct final projects that facilitate greater access. Worsley said his past interactions with maker communities that excluded people with disabilities inspired him to create the course.

Worsley added that making entails combining digital and physical methods to produce a tangible object.

Making is also about the power of big ideas, the power of letting people imagine, letting people create and bringing that together with the opportunities to actually instantiate those ideas, Worsley said.

The class incorporates perspectives of disabled individuals into the curriculum through guest speakers and conversations with members of local organizations.

When Mez Perez (McCormick 19) walked into the class in 2017, she said she was skeptical of whether the instruction would actually focus on disabled product users instead of designers.

But after a quarter of applying a critical disability studies lens to design, she said she has reconsidered how society frames accessibility. She said she realized society typically places blame on disabled people rather than acknowledging the inaccessibility present in certain spaces.

This class totally blew me away, Perez said. Its like a real partnership and it takes down some of those binaries of who has knowledge about what.

After Perez took the class, she joined Worsleys lab to work on a project that helped kids learn about making. Perez then went on to pursue postgraduate studies in computer science education, an interest she solidified after enjoying the class and working alongside Worsley.

But this year, because of the pandemic, the class looked a little different. Students were unable to meet in-person, and Meg Butler (SESP 21) said the distance made students feel uneasy to assert themselves in disablity spaces for the purpose of completing an assignment.

Butler, who is disabled, said although there were times when she identified ableism during the course, she was glad that Worsley and the teaching assistant encouraged her to speak up on her own terms.

There were times when Id be like, I dont want to be annoying. I dont want to be that person. And theyd be like, No, you be that person. Push back on people, Butler said. But also knowing that I never felt like I had to because that can also be exhausting.

Mmachi Obiorah (McCormick 15, 20) said she appreciated that the hands-on nature of the class enabled students to work in groups and try new things. Her final project, she said, was a tactile version of block-based programming intended for children with visual impairments.

We created physical blocks, and each block had a meaning so when you touch it, you understand that this is the block that carries out a particular function, Obiorah said.

Worsley and Ph.D. candidate David Bar-El, the class former teaching assistant, published a paper on March 24 reflecting on the courses evolving impact.

The report found that engaging with stakeholders in later iterations of the curriculum helped students better understand their needs and design products accordingly.

Worsley said he is working on several other projects that tie into inclusive making, such as designing a multimodal interface for Minecraft. He plans to work with Park School in Evanston to introduce more maker technology to students with disabilities.

The University, Worsley said, also has significant work to do to support students with disabilities. He suggested initiatives such as the redesign of physical spaces on campus, more comprehensive training for faculty and an internal audit of NU policies.

What can we, as an institution, do better to make sure that we are welcoming to everyone? Worsley said. And not just welcoming, that were really celebrating the various identities, the various facets of peoples identities that they have.

Email: [emailprotected]Twitter: @rjleung7

Related Stories: LGBTQ+ affinity groups foster community, build advocacy networks for faculty, staff and law students Bookends & Beginnings holds a conversation about disability accessibility Midterms held online; some canceled

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Inclusive Making course focuses on disabled users in technology spaces - Daily Northwestern

Integrated systems and data analysis can play a key role in reducing air pollution, says the Managing Director of Siemens Mobilitys Intelligent Traffic Systems business in the UK, Wilke Reints.

From the phone in your pocket to the latest video streaming services, smart technology is playing an increasingly large role in all our lives, which is only set to grow as the systems themselves become more and more sophisticated.

That technology is also propelling huge changes in areas that many of us take for granted, like traffic management systems.

The days of traffic lights simply changing colour on a loop are over. Modern systems can help monitor and control traffic flow, as well as gather important information on the types of vehicles that use the nations roads, behaviour patterns and so forth.

There are many applications for that data and smart traffic management systems, including helping to improve air pollution and implement Clean Air Zones, as Siemens Mobilitys Intelligent Traffic Systems Managing Director in the UK, Wilke Reints, explains.

Without data it would be difficult to find the right measures or solutions to improve pollution levels he tells Air Quality News.

But it is not just about having isolated data sets. The seamless integration of that data is as important and necessary. You need to put all the data into one system and then try to identify a pattern, which will then help you to find the right tools to improve the situation in your town or city.

However, different towns and cities require different solutions. For larger areas, smart technology can help with the implementation of a Clean Air Zone, which might not be as effective in smaller towns and villages.

Mr Reints says it is important to try to identify where your problems are.

That is the single most important thing and for that, you need data analysis and the seamless integration of various systems. You should simulate first and then build the system, rather than the other way around.

There are different ways you can make people aware of their journey and how it contributes to the air pollution around them. One is providing direct information to people who need to understand what their travel options are and why certain measures are in place. For example, if you introduce a greener route but nobody knows it exists, you will carry on using the older, more congested route.

The other factor is to analyse data and manage traffic flows in a way that is balanced with overall targets. Whilst it may not be possible to avoid all congestion in a city there are some conditions you can avoid. If you have smart traffic controllers, where all the information gets collected into a centralised system, a more constant flow is possible and travel times become more reliable.

A good indicator for a traffic management system is that the travel times are reduced and stable. The more consistent the travel times are, the more balanced the system is.

What we need to do is have the right traffic management in place for certain groups of road user. For example, in busy cities such as London pedestrians may have a higher priority.

While Clean Air Zones may work in larger towns and cities, Mr Reints says they may not be the best option for smaller towns and villages, who will need to closely examine the type of traffic in their specific areas.

For example, he says the installation of rapid EV chargers may not be as necessary in small villages compared to motorways, where EV drivers need a quick top up on longer journeys. You need to have three layers of EV charging infrastructure and they go hand in hand, he explains.

The first one is for the long-distance traveller who requires a rapid charger. They need their cars charged quite quickly, which is a challenge in itself because service stations along our motorways dont necessarily have the energy capacity for this right now.

But from a planning perspective, you need to enable people to travel longer distances by EV. If you dont do that, people will not embrace these types of vehicles, or it will just be a secondary car, and they will not use it as much if they struggle to charge it on their journey.

So, you need other layers of charging, either at home or on the street, through street light chargers at the curb for example.

With more EVs on our roads than ever before and public demand growing for action on tackling air pollution, the direction of travel is clear for many local authorities. The infrastructure of tomorrow will have to take into account the environment, as well as the needs of all road users. Smart technology and data analysis could help join the dots to ensure a more seamless vision of the future.

This article first appeared in the April Air Quality News magazine, which is available to view here.

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How smart technology can drive the decarbonisation of transport - AirQualityNews

New York, N.Y., April 23, 2021 (GLOBE NEWSWIRE) -- Abel Noser Solutions, a global institutional trading analytics firm recently named the top global multi-asset TCA provider by Aite Group, is proud to welcome two new technology specialists to its ranks. Kent Konkol joins the firm as SVP of Client Services and Analytics with over 20 years of quantitative development experience in the financial services industry. Ronen Peled, with more than 12 years of experience in options market data and portfolio management, also joins the technology group as Market Data Developer. These new hires are part of the companys ongoing expansion of products and services meant to provide clients with unsurpassed multi-asset class TCA.

Prior to joining Abel Noser Solutions, Kent Konkol was with Virtu Financial/ITG as a product and client services manager specializing in ETL software and Python development. During his career, he has also worked at Deutsche Bank, Standard and Poors/ClariFI, Inc., Bear Stearns and Salomon Smith Barney, ultimately providing him with deep experience in various risk models for factor back-testing and attribution. Mr. Konkol holds a BA in Physics from University of Chicago and an MA from University of Rochester.

Prior to joining Abel Noser Solutions, Ronen Peled was with Autonomy Capital as Director of Market Data Strategy. During his career, he has also worked at S&P Capital IQ, JP Morgan and Citco Fund Services. Mr. Peled has an extensive background in listed options, market data management and regulatory trade reporting including MiFID II-related applications. He earned his BS and MS in Applied Math from Stevens Institute of Technology.

Were thrilled about the deep knowledge of market structure and electronic trading both of our new hires exhibit, said Ted Morgan, COO of Abel Noser Holdings, the fintech groups parent company. One important reason that we stand out in industry surveys as the best multi-asset TCA provider is that we hire the best people. Kent and Ronen are excellent examples of this, and I am excited to see how they will contribute to our platform.

Both Kent and Ronen are recognized industry technology contributors, said Randy New, CTO of Abel Noser Solutions. We are pleased to add them to our team during a time of rapid growth in multi-asset trading measurement and regulatory compliance. As key participants in the evolution of global multi-asset market analytics, we again look forward to applying the firms resources and leading position as the overall market matures and becomes more data-driven.

About Abel Noser Solutions

Abel Noser Solutions has long been respected as a leader in providing innovative software products to lower the costs associated with multi-asset trading. With 500+ clients worldwide, Abel Noser Solutions continues to hold its place as the leading innovator in TCA, compliance software, and service solutions and was ranked Top Global Fixed Income TCA Provider 2020 by Greenwich Associates and best-in-class multi-asset TCA vendor by Aite in Q1 2021. Learn more at http://www.abelnoser.com

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Abel Noser Solutions Expands Their Technology Group with New Hires - GlobeNewswire

EyeWay Vision has just recently joined the LaSAR Alliance. If that news doesnt thrill you, it could be because EyeWay and the LaSAR Alliance are both brand new. However, they have both recently come together in an exciting example of technology innovation and collaboration in XR research.

EyeWay Vision isnt actually brand new. Theyve been flying under the radar for the last seven years doing early-stage research and development in Israel.

Specifically, the company is exploring the far future of AR through eye-tracking laser scanning, and foveated projection. Essentially, they want to project digital images onto the eye rather than onto a lens in front of the eye. This involves understanding where the eye is looking and what already exists there in the physical world.

Dr. Nikhil Balram, formerly a Google executive, was announced the head of the Silicon Valley subsidiary late last year in the release announcing the new US branch.

What if you actually just projected an image the size of the pupil? Dr. Balram asked in a remote interview with ARPost. Now you can have very low power devices and very high-resolution images.

Power use is a target of XR technology innovation in part because, as David McIntyre of Perceive told ARPost in an interview around the time that EyeWay came to the US, when you start adding processing, heat becomes a problem. In AR devices without an external compute box, that often means heat discomfort or danger directly on the users head or face.

The LaSAR Alliance (LaSAR is short for Laser Scanning for Augmented Reality), like EyeWay, is only sort of new. The alliance itself is the newest edition to IEEEs Industry Standards and Technology Organization, which has been driving technology innovation for over 20 years.

The alliance was created to foster a platform and ecosystem of like-minded companies for the growth and development of laser and AR markets in general, LaSAR Alliance Chair, Bharath Rajagopalan, said in the interview. We want to have the best-of-breed solutions. We want to encourage, as much as possible, a wide variety of different approaches.

See Also: Taqtile Continues to Explore 5G With Booz Allen Hamilton and DOD

Essentially, member companies get access to an exclusive network of organizations interested in solving similar problems. Companies interact with each other through alliance initiatives, but also have the freedom to collaborate, network, and form partnerships on their own outside of the alliance. In exchange, member organizations contribute to documents like best-practice guides.

In addition to creating a marketplace of ideas, Rajagopalan hopes that LaSAR Alliance member organizations will achieve harmonization rather than standardization of industry practices through their shared technology innovations.

So, why has a company thats been essentially in hiding for over half a decade suddenly joined a technology innovation alliance? Because no one can operate in a vacuum.

According to Dr. Balram, EyeWays vision for the future of AR involves a network of components that come together and that includes components outside of EyeWays core competency areas.

We see ourselves as a systems company we developed this technology and now we need to start working with the ecosystem, said Dr. Balram. The Silicon Valley company is really geared outward.

This is exactly the kind of attitude that Rajagopalan hopes that all member organizations bring to the table. He also encourages technology innovation companies that arent directly involved in laser scanning AR technologies but also companies building things around it to get involved. This way, LaSAR Alliance can represent the entire rich ecosystem.

Other early entrants to the Alliance include companies making micromirrors. These mirrors are not directly involved in laser scanning but are involved in XR displays including the lensless headsets of the future proposed by XR pioneer Doug Magyari.

Both Dr. Balram and Rajagopalan touched on the concept of competition, which is bound to come up with the topic of collaborative technology innovation. Neither of them thinks that it is an obstacle to participation in the alliance.

You can have competition and collaboration; they can both exist, said Rajagopalan. A rising tide lifts all boats.

See Also: Defining a Tech Cycle and Where Augmented Reality and Virtual Reality Stand

Dr. Balram also expressed confidence not just because there are different markets and use cases for different kinds of displays that make room in the market. He also expressed confidence in the unique nature and quality of EyeWay.

If you create an experience thats 10x, no one will ever go back. Its like going from black-and-white TV to color, said Dr. Balram. Thats what inspired me to leave Google to come to this little startup. This is the direction AR is going and well never go back.

While there are a few companies in the XR space offering end-to-end solutions, most remain systems companies like EyeWay.

When these systems companies come together in organizations like the LaSAR Alliance, technology innovation takes off in ways that are both explosive and sustainable independent and integrated. These innovations are no less significant than the strictly siloed competitive feature races that we so often see in this rapidly changing XR space.

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EyeWay Vision Joins Technology Innovation Collective The LaSAR Alliance | ARPost - ARPost

HEFEI, China & EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED technology and materials, and Visionox Technology, Inc. (), a leading Chinese display panel manufacturer, today announced the extension of their long-term OLED material supply and license agreements. The agreements extend Universal Displays supply of its proprietary UniversalPHOLED phosphorescent OLED materials and technology to Visionox Hefei Technology Co. Ltd. () through its wholly-owned subsidiary UDC Ireland Limited. The new agreements run for five years. Further details and financial terms of the agreements have not been disclosed.

It is an exciting time in the OLED market as new products are launched that showcase the benefits of innovative form factor, high contrast ratio, wide color gamut, rich color saturation and fast response times, said Zhang Deqiang, President of Visionox Technology, Inc. We are pleased to strengthen our partnership with Universal Display Corporation and extend our material and license agreements. Our collaboration with UDC enables us to reach our goal of providing best-in-class, energy-efficient, OLED displays in this growing industry.

We are pleased to expand and extend our long-term agreements with Visionox Technology to ensure the continued supply of our highly-efficient, high-performing, proprietary, phosphorescent materials for their broadening OLED product portfolio, said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. Visionoxs investments in OLED capacity, including its new Gen 6 flexible Hefei fab, are expected to help fuel the ongoing proliferation of cutting-edge OLEDs in the consumer electronics landscape. With our deep and broad experience and know-how of more than two-and-half decades of pioneering research, we are continually discovering, designing and delivering the best OLED emissive layer materials to support and enable the industry and look forward to further growing our partnership with Visionox.

About Visionox Technology, Inc. ()

Founded in 2001, Visionox is the world's leading supplier of integrated advanced display solutions, and its origin can be traced to the Tsinghua University OLED (Organic Light Emitting Display) research group, established in 1996. The company operates under a vision of pushing boundaries to enhance the experience of vision and a mission of leading China's OLED industry through technological innovation. With over 20 years of experience in OLED technology, Visionox has become a globally leading enterprise in the OLED industry, covering R&D, production and sales. The field of OLED technology has become competitive around the world. Visionox practices constant self-innovation, steadily working to develop OLED technology and the OLED industry, from basic research to pilot production to mass production. Visionox has mastered many core OLED technologies and holds more than 8,500 key OLED patents to date. It has also received a number of prestigious awards including First Prize in the State Technological Invention Award (issued by the State Council of the PRC) and the China Patent Gold Award (jointly issued by the WIPO and the Chinese Patent Office). In 2002, Visionox spearheaded the formulation of OLED international and national standards and continues to lead the endeavor. Visionox is responsible for the formulation and revision of four OLED international standards and leading the framework for six OLED national standards and four OLED industrial standards. Visionox has secured a dominant position among international competition, becoming a leading voice in China's industrial development. Leveraging its existing technological advantages and embracing new trends, Visionox actively explores technological frontiers that represent the future of the industry, such as flexible AMOLED technology. Visionox has successfully created many of the world's firsts, including the world's first fully scrollable AMOLED display, the world's first bi-directional foldable single-axis display module and many other flexible products. With products boasting a folding radius as small as 1.6 mm, Visionox has made repeated breakthroughs in flexible foldable technology. It has also formulated two international standards for flexible display, and leads the world in flexible OLED technology. Visionox focuses on OLED technology and industrial development, with a commitment to independent innovation and keeping the development of China's OLED industry on pace with the rest of the world. Visionox provides customers with a high-quality visual experience and has incorporated China's supply-side structural reform. Embracing the belief that innovation is the soul of an enterprise, Visionox always strives for world-class excellence, endeavoring to provide the most-advanced display solutions that enhance the experience of vision. For more information, please visit http://www.visionox.com/.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display, solid-state lighting applications with subsidiaries and offices around the world. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the impact of the COVID-19 pandemic on the Company and otherwise, the Companys technologies and potential applications of those technologies, the Companys expected results and future declaration of dividends, as well as the growth of the OLED market and the Companys opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporations current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporations periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the sections entitled Risk Factors in Universal Display Corporations Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent Quarterly Reports on Form 10-Q. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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Visionox Technology, Inc. and Universal Display Corporation Extend Long-Term OLED Agreements - Business Wire

The U.S. Small Business Administration has released the first round of technology partners participating in a new initiative for the Restaurant Revitalization Fund (RRF) a program that will allow eligible restaurants and other food establishments to access the RRF application or data they need to fill out the application through their trusted point-of-sale (POS) service providers.

SBA is proud to announce partnerships with Clover , NCR Corporation, Square, and Toast in this groundbreaking effort to provide a customer-centric approach to the delivery of relief funds.

The SBA is partnering with point-of-sale providers to leverage technology to better reach the smallest businesses that need our help the most. This collaboration is just one example of the many innovative and creative ways were connecting with entrepreneurs in the hardest-hit and underserved communities, said SBA Administrator Isabella Casillas Guzman. The SBA must be as entrepreneurial as the entrepreneurs we serve. These partnerships enable us to meet small businesses where they are, instead of waiting for them to come to us.

Under Administrator Guzmans leadership, the SBA is prioritizing inclusion and equity in its programs as outlined by Congress. As small business entrepreneurs have been asked to pivot and adapt to the new COVID-19 marketplace, the SBA is doing the same and ensuring it provides equitable distribution of funds and easier access to disaster relief programs.

As restaurant sellers prepare for reopening, were working with the SBA to provide them with the tools and services they need to rebuild, said Bruce Bell, head of Square for Restaurants. Were honored to partner with the SBA in this important initiative, as we continue to support our sellers on the challenging road ahead.

The restaurant industry has been hit hard by the pandemic, and we are pleased to work with the SBA to help our customers easily access and navigate the Restaurant Revitalization Fund application process, saidNick DeLeonardis SVP & GM, Payments, Lending, and Payroll at Toast. As the Biden Administration continues to roll out new programs, this partnership will serve as an example of ways in which the public and private sectors can work together to serve the greater good.

Once the SBA announces when applications will be accepted, qualifying restaurants will be able to work directly with their point-of-sale service providers to help them apply for the RRF. Each point-of-sale partner is helping in different ways from providing a fully integrated application experience, to building pre-packaged point-of-sale documentation, to holding interactive webinars. In all cases, these partnerships allow for thousands of restaurant owners to accelerate their application submission process.

Restaurants have been scrambling to survive the downturn caused by the pandemic, saidDirk Izzo, President and General Manager, NCR Hospitality. We are committed and honored to do our part to facilitate access to much-needed financial support for our customers so they can keep their businesses running.

By working alongside the SBA we are expediting the Restaurant Revitalization Fund application process for restaurants using Clover or Fiserv technology, facilitating faster access to much-needed capital so they can continue to serve customers and their communities, said Jeff Dickerson, Head of Clover from Fiserv. We are proud to do our part to support a critical initiative that will aid restaurant reopening and do so with a focus on revitalizing women-owned, veteran-owned, and minority-owned restaurants.

While SBA encourages applicants to use the POS ecosystem, applicants without access to point-of-sale service providers can submit their applications electronically at https://restaurants.sba.gov/.

SBA is in ongoing conversations with other interested parties to continue to widely and equitably deliver an experience that is centered around who it is serving owners of restaurants, bars, breweries, bakeries, etc. Point-of-sale service providers who are interested in participating in this program should email restaurants@sba.gov. A full list of official point-of-sale service providers will be continually updated and can be found at https://restaurants.sba.gov/.

Read more:

SBA Announces First-of-Its-Kind Technology Initiative for Restaurant Revitalization Fund - Drgnews