|By PR Newswire||
|October 30, 2012 12:41 PM EDT||
BORDEAUX, France, October 30, 2012 /PRNewswire/ --
2012 HY Results
Consolidated results as at 30 June 2012
A decisive year
Confirmation of the CHO POWER MORCENX plant start in production
Europlasma's Board of Directors met on 29 October 2012 and authorised the release of the consolidated accounts for the half year ended 30/06/2012.
Revenue of EUR21.365m, -EUR4.396m vs 30/06/2011, the successful commissioning of the CHO Morcenx plant still being the event that will convert the projects portfolio into sales contracts within the Renewable Energy segment
EBITDA of -EUR1.786m, -EUR1.367m vs 30/06/2011
Operating result of -EUR3.596m, -EUR1.473m vs 30/06/2011, affected by unfavourable non-recurring factors within the Renewable Energy and Hazardous Waste segments
Net result, Group share of -EUR3.45m, -EUR1.089m vs 30/06/2011
Self-financing capacity of -EUR1.636m, -EUR1.704m vs 30/06/2011
Net investments of EUR5.493m compared to EUR9.325m over the 1st half of 2011, linked to the development of the renewable energy segment over the 2 periods
Net debt of EUR11.931m compared to EUR3.535m as at 31/12/2011
Commenting on these figures, Didier Pineau, Managing Director, said:
"The Europlasma Group has invested or secured investment for more than €50 million on its Morcenx site over the last two years; thus, €42m have been invested in CHO Morcenx, €7m in KIWI and €2m in the Inertam process.
These large investments illustrate the Group's ability to mobilise investors on its technologies and embody the industrial policy followed for several years.
In parallel, the Group has also expensed its share of financing together with the energy of its employees to implement the CHO Morcenx plants and the KIWI pilot. 2012 is a year devoted to the industrial development of the Renewable Energy segment and to the improvement of operational performances of the Hazardous Waste segment. While the financial performance of 2012 is reflective of these investments, we expect the positive impact on the operating results to be realised in 2013.
As such, Directors and management believe in a positive outlook: with respect to CHO Power, the plant has already started mid October and has produced several hundreds of MWh with a peak power of 6MW and the Group is still focused on its tune-up; what regards Inertam, the significant production improvements in terms of quantity and quality will be fully visible from 2013; regarding Europe Environnement, margins are recovering and the reorganisation measures are already beneficial; For KIWI, the prototype is now operational and initial results are encouraging.
The Board of Directors has initiated discussions regarding an increase in the Group's equity at all levels with the intention of giving it the means to fund for the latest development of CHO Morcenx and for the construction of new plants."
Activity and results
In thousand euros (EUR '000) 30/06/2012 30/06/2011 Change Revenue 21,365 25,760 -4,396 -17% EBITDA -1,786 -419 -1,367 326% Operating income -3,596 -2,122 -1,473 69% Financial income -232 -183 -49 27% Net income -3,623 -2,516 -1,107 44% Net income, group share -3,450 -2,362 -1,089 46% Earnings per share (in euros/share) -0.22 -0.15 -0.07 44%Source: Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012
The half-year 2012 consolidated turnover amounted to €21.365m, compared to €25.76m realised as at 30/06/2011. This overall reduction of €4.396m is explained by the drops in turnover recorded in the Renewable Energy and Air & Gas segments of respectively €1.162m and €4.027m, which were partially offset by the increased turnover achieved in the Hazardous Waste and Torch & Process segments of respectively €0.443m and €0.35m.
The renewable energy business recorded a turnover of €4.545m, representing 21% of the Group's turnover as at 30/06/2012 (stable compared with 30/06/2011). This revenue is linked to the EPC contract of the energy from waste and biomass plant at Morcenx, for which the completion rate was lower over the 1st half 2012 than over the first half 2011.
The Air & Gas activity contributed 57% of the 1st half year 2012 consolidated turnover, with revenues of €12.281m, compared to €16.308m at 30/06/2011 (63% of the consolidated turnover). The activity for the 1st half of 2012 was as steady as per the 1st half of 2011 what regards historical business, the change in the turnover being related to the Sharp/Air Liquide contract which ended in the second half of 2011. In addition, in order to achieve cost savings and enhance its competitiveness, Europe Environnement SA merged with its subsidiaries Protech'Air and Europ-Plast on respectively 01/07/2011 and 01/01/2012, their activities being continued within Europe Environnement.
The hazardous waste destruction activity grew by nearly 15% at 30/06/2012 compared to 30/06/2011 and contributed €3.594m of the consolidated turnover, reflecting a rise in the average price invoiced and in the volume of asbestos waste treated (1,834 tons treated as at 30/06/2012 versus 1,768 tons as at 30/06/2011). The commercial activity remained steady over the first half of 2012, with a 20% growth in the tonnage received in comparison with 30/06/2011.
Europlasma Torch & Process's activity generated a turnover of €944,000, compared to €594,000 at 30/06/2011; this was essentially in line with the status of the KNPP contract: at 30/06/2012, the majority of the equipment was being made, prior to the tests planned this winter on the Morcenx site. The after sales service provisions were also steady, in Japan in particular.
The Group continued its investments in the 3 major R&D projects of the Torch & Process segment: KIWI, ANR Turboplasma® and SESCO.
The operating result shows a loss of €3.596m at 30/06/2012, as opposed to €2.122m at 30/06/2011, linked mainly to the performances in the Hazardous Waste (-€1.284m vs -€1.279m at 30/06/2011) and Renewable Energy (-€1.905m vs -€34,000 at 30/06/2011) segments .
The Hazardous Waste plant performed better than in the first half of 2011, despite new technical issues encountered in the load preparation area. This performance improvement in the hazardous waste process is compensated by new costs arising from the future operations of the CHO Morcenx plant, personal costs mainly, ca. 20 employees having been recruited over the period. The significant investment finalised in late September 2012 in the load preparation aims to prevent incidents upstream of the process through a better incoming mix and to achieve significant performance improvements.
The operating losses recorded by the Renewable Energy segment are basically linked to the revision made on the Morcenx plant construction contract of the margin on completion: the scheduled date of handover of the plant by its client CHO Morcenx, initially set for the end of the first half-year, has been postponed until the second half of 2012 and the financial costs associated with this postponement have been recorded in the costs at completion of the EPC contract.
Other income increased by €2.518m to €5.743m at 30/06/2012 as a result of:
- the increase in capitalised production, corresponding to the work undertaken by the Group on the CHO plant buildings in Morcenx, the KIWI research and development platform and the Inertam production tool;
- the subsidies recognised in the profit and loss account as regards the hiring of the Morcenx CHO plant operating teams and the work in progress.
Staff expenses went up by 8% at 30/06/2012 compared to 30/06/2011, to €6.908m, following the recruitment effected for the operation of the CHO plant in Morcenx in particular.
The other non-recurring operating expenses and income at 30/06/2012 basically involved disposals of assets.
The tax income of €0.233m recorded at 30/06/2012 corresponds to a tax payable expense of €0.133m and a deferred tax income of €0.365m.
The share of profits in the equity-accounted companies amounts to a loss of €28t, which is broken down into a loss of €43t for CHO Morcenx and a profit of €15t for RHE America, as opposed to a loss of €97t at 30/06/2011 (of which €195t was a loss for CHO Morcenx and €19t was a profit for RHE America).
The share of minority interests in the net result at 30/06/2012 is a share of €0.173m of losses, as opposed to a share of €0.155m of losses at 30/06/2011.
The Group share of the net result corresponds to a loss of €3.45m compared to a loss of €2.362m achieved at 30/06/2011. The Renewable Energy (-€1.689m) and Hazardous Waste Destruction (-€1.354m) segments recorded the majority of the loss, due to the reasons previously listed.
The Group's Board of Directors and Morcenx's financial partner both renewed their trust in the Group and, in this respect:
- a major investment was made after the half-year was closed to optimise the operation of the asbestos vitrification plant, especially in the load preparation;
- as part of the renegotiations following the postponement of the plant handover date, the financial partner renewed its interest in the Group's technology and know-how by extending the exclusivity and territorial clauses over future projects.
Consolidated statement of financial position and cash flows
In thousand euros (EUR Change Change '000) 30/06/2012 31/12/2011 in TEUR 30/06/2011 in TEUR Non-current assets 53,089 48,631 4,458 45,756 7,333 Current assets 34,026 39,863 -5,837 31,721 2,305 Equity attributable to Group shareholders 31,217 34,556 -3,339 33,563 -2,346 Non-controlling interests 2,256 2,446 -190 2,301 -45 Non-current financial liabilities 16,759 11,997 4,761 11,055 5,704 Other non-current liabilities 1,623 1,523 99 1,907 -285 Current financial liabilities 2,556 3,500 -945 1,544 1,011 Other current liabilities 32,704 34,472 -1,767 27,107 5,598 Net debt 11,931 3,535 8,397 2,593 9,339 Gearing 26.3% 8.7% 17.6% 6.7% 19.6% Operating cash flows before cost of net financial debt -1,636 3,627 -5,263 68 -1,704 Net cash flows from investing activities -5,493 -14,416 8,923 -9,325 3,832 Equity - Group share - per share (in euros) 1.99 2.22 -0.23 2.14 -0.15
Source : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012
The balance sheet total was €87.115m at 30/06/2012, compared to €88.495m at 31/12/2011 and €77.478m at 30/06/2011.
Within the balance sheet assets, this change is the result of an increase in non-current assets and a reduction in current assets when compared with 31/12/2011, because of:
- significant investment in tangible assets (€5.228m) during the half-year on the KIWI research and development platform (€1.44m), on the CHO plant buildings at Morcenx (€2.281m) and on the Inertam production tool (nearly €1m at 30/06/2012);
- a loan granted in respect of a project being developed with Sunrise Renewables (€0.3m) within other non-current assets);
- a reduction in current financial assets, in particular trade and other accounts receivable, because of the level of activity;
- a reduction in the cash related to operating activities and from investments, partially offset by flows from financing.
Within the balance sheet liabilities, the change is broken down as follows:
- equity went down by €3.528m, basically due to the loss for the period;
- non-current liabilities increased by €4.861m, mainly linked to the increase in bank loans, namely:
- drawdowns made from banking partners in respect of the construction of the building of the Morcenx plant,
- and the financing obtained from OSEO in respect of investment and growth projects for the hazardous waste treatment segment.
- current liabilities went down as a result of the level of activity.
The group's net debt was €11.931m at 30/06/2012, compared to a net debt of €3.535m at 31/12/2011, with the gearing going from 8.7% to 26.3%. The 2 segments which generated cash flow during the half-year were Hazardous Waste Destruction (€2.661m) and Air & Gas (€1.008m). The other 2 segments (Torch & Process and Renewable Energy) used €3.623m and €3.459m respectively, basically corresponding to an adverse change in the WCR and an increase in the advances granted to other operating segments for the former and a cash deficit on the operating activities for the latter.
Post-balance sheet events and outlook for 2012
Within the Renewable Energy branch, the Group inaugurated the Morcenx energy production plant on 9 July and is focusing on its start-up and ramp-up. The success of these objectives is a priority for the Group which is, at the same time, continuing with the commercial development of that segment of activity. The start of the operation of the Morcenx CHO plant under the O&M (Operations and Maintenance) contract should also help to increase the turnover.
The hazardous waste treatment activity should improve its operational performance thanks to the major new investment made in the load preparation area during the summer of 2012. These expected improvements in performance should be noticeable on a full-year basis from 2013.
The air and gas treatment activity carried out by the Europe Environnement sub-group is developing favourably due to the recovery in industrial orders and also increased exposure to export, rather than the less profitable government contracts, which should improve the operating margin for 2012.
The postponement of the order for the 3rd gas treatment line of the 3Sun plant in Italy should result in a decline in the 2012 turnover but should show an improvement in the result contributed by the Europe Environnement sub-group.
Finally, the Torch & Process segment will continue fulfilling the KNPP contract and its investments in Research and Development: the KIWI/ANR Turboplasma® pilot was commissioned at the start of October for an initial series of tests. 3 series of additional tests are planned over the end of the year and 13 more over 2013/2014 with different types of waste.
Financial agenda, next steps
- SFAF (Financial analysts) meeting: 8 November 2012
- Release of the social and consolidated annual accounts as at 31/12/2012, of the management report and of the auditors reports to the abovementioned accounts: 30 April 2013
- SFAF meeting: first half of May 2013
- 2012 « Document de référence »: May 2013
operating segment information
Holding, R&D, Engineering torch & Hazardous Renewable 30/06/2012 process waste Energies Air and Gas Total Goodwill 0 2,615 0 5,819 8,434 Other intangible assets 384 31 877 44 1,336 Property, plant and equipment 7,734 6,028 2,792 7,697 24,250 Other non-current assets 1,684 717 16018 650 19,068 Cash and cash equivalents 1,856 3,817 384 1,256 7,313 Financial liabilities 6,055 2,666 0 10,594 19,314 Total assets 15,657 17,447 28,429 25,582 87,115 Revenues 944 3,594 4,545 12,281 21,365 Operating income -337 -1,284 -1,905 -69 -3,596 EBITDA -36 -495 -1,700 444 -1,786 Net increase in depreciation, amortisation and impairment -301 -789 -248 -498 -1,837 Holding, R&D, Engineering torch & Hazardous Renewable 30/06/2011 process waste Energies Air and Gas Total Goodwill 0 2,615 0 5,705 8,320 Other intangible assets 598 36 1,510 73 2,216 Property, plant and equipment 2,764 5,634 0 8,284 16,682 Other non-current assets 1,219 797 15,752 771 18,538 Cash and cash equivalents 1,427 401 5,029 2,900 9,757 Financial liabilities 1,224 5 0 11,370 12,599 Total assets 9,014 12,937 28,602 26,925 77,478 Revenues 594 3,151 5,707 16,308 25,760 Operating income -874 -1,279 -34 64 -2,122 EBITDA -511 -389 37 444 -419 Net increase in depreciation, amortisation and impairment -363 -891 -186 -360 -1,800 Holding, R&D, Engineering torch & Hazardous Renewable 31/12/2011 process waste Energies Air and Gas Total Goodwill 0 2,615 0 5,795 8,410 Other intangible assets 465 28 1,035 60 1,587 Property, plant and equipment 5,536 5,664 1,212 7,930 20,343 Other non-current assets 1,687 556 15,439 608 18,291 Cash and cash equivalents 5,480 1,176 3,842 1,465 11,963 Financial liabilities 3,451 4 0 12,044 15,498 Total assets 17,129 14,779 29,993 26,593 88,495 Revenues 1,369 7,960 17,186 31,516 58,030 Operating income -42 -1,179 -176 952 -446 EBITDA 596 634 -259 1,718 2,688 Net increase in depreciation, amortisation and impairment -639 -1,813 -539 -755 -3,745
Source : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012
consolidated statement of financial position
In EUR'000s 30/06/2012 31/12/2011 Change Goodwill 8,434 8,410 24 Other intangible assets 1,336 1,587 -251 Property, plant and equipment 24,250 20,343 3,907 Investment properties - - - Investments in associates 7,297 7,340 -43 Other non-current financial assets 9,453 8,978 475 Deferred tax assets 2,318 1,973 345 Non-current assets 53,089 48,631 4,458 Inventories and work-in-progress 2,155 2,156 -1 Accounts receivable 16,294 17,586 -1,292 Other operating receivable 6,578 6,798 -220 Current tax receivable 177 133 44 Other current assets 1,439 1,227 212 Cash and cash equivalents 7,383 11,963 -4,581 Assets from activities held for sale - - - Current assets 34,026 39,863 -5,837 Assets 87,115 88,495 -1,380 Capital 15,737 15,656 81 Additional paid-in capital 34,658 34,658 - Reserves and retained earnings -15,728 -14,417 -1,311 Net income for the financial year -3,450 -1,341 -2,109 Equity attributable to Group shareholders 31,217 34,556 -3,339 Non-controlling interests 2,256 2,446 -190 Equity 33,473 37,002 -3,528 Non-current employee benefits 567 451 117 Non-current provisions - - - Non-current financial liabilities 16,759 11,997 4,761 Deferred tax liabilities 547 563 -16 Other non-current liabilities 509 510 -1 Non-current liabilities 18,381 13,521 4,861 Current provisions 759 697 62 Current financial liabilities 2,556 3,500 -945 Trade payables and related accounts 14,860 18,124 -3,264 Current tax payables 2 - 2 Other operating payables 6,260 5,914 346 Other current liabilities 10,823 9,737 1,086 Liabilities of businesses held for sale - - - Current liabilities 35,260 37,972 -2,712 Liabilities 87,115 88,495 -1,380 Average number of shares 15,672,989 15,537,116 135,873 Average diluted number of shares 20,006,401 19,852,728 153,673 Equity - Group share - per share (in euros) 1.99 2.224 -0.3 Equity - Group share - per share, diluted (in euros) 1.56 1.741 -0.2
Source : Condensed consolidated accounts as at 30/06/2012, non-audited by the Auditors and authorized for release by the Board of Directors of 29/10/2012
consolidated income statement
In EUR'000s 30/06/2012 30/06/2011 Change Revenue 21,365 25,760 -4,396 Other operating income 5,743 3,226 2,518 Purchases consumed -16,130 -16,927 797 External expenses -5,191 -5,353 162 Personnel costs -6,908 -6,411 -497 Other operating expenses -79 -225 145 Taxes -458 -393 -65 Depreciation and amortisation, impairment, and provisions -1,837 -1,800 -38 Current operating income -3,496 -2,122 -1,374 Impairment 0 0 0 Other non-recurring operating income and expenses -100 0 -100 Operating income -3,596 -2,122 -1,473 Income from cash and cash equivalents 11 9 2 Cost of gross financial debt -283 -263 -20 Cost of net financial debt -256 -254 -17 Other financial income 91 116 -25 Other financial expense -52 -45 -7 Financial income -232 -183 -49 Income tax 233 -114 347 Net income of consolidated companies -3,580 -2,420 -1,161 Share of net income from associates -28 -97 69 Net income from discontinued operations 0 0 0 Net income for the period -3,623 -2,516 -1,107 Non-controlling interests 173 155 18 Net income (Group share) -3,450 -2,362 -1,089 Average number of shares 15,672,989 15,416,225 256,764 Average diluted number of shares 20,006,401 19,686,037 320,364 Basic earnings per share (in euros) -0.22 -0.15 -0.07 Diluted earnings per share (in euros) -0.17 -0.12 -0.05
consolidated statement of comprehensive income
In EUR'000s 30/06/2012 30/06/2011 Change Net income of the consolidated Group -3,623 -2,516 -1,107 Exchange differences on translation of consolidated companies 22 22 0 Change in the value of cash flow hedges -71 48 -119 Income tax effect relating to these items 24 -16 40 Non-current assets held for sale Other comprehensive income for the period, net of tax -25 54 -79 Total comprehensive income for the period, net of tax -3,649 -2,463 -1,186 - attributable to Group shareholders -3,462 -2,335 -1,127 - attributable to non-controlling interests -187 -128 -59
consolidated cash flow statement
In EUR'000s 30/06/2012 30/06/2011 Change Total consolidated net income -3,623 -2,516 -1,107 Adjustments 1,937 2,220 -282 Elimination of net income from associates 28 97 -69 Elimination of depreciation, amortisation and provision 1,809 1,905 -96 Elimination of revaluation gains and losses (fair value) 3 106 -103 Elimination of gains and losses on disposals of assets and dilution gains -5 6 -11 Elimination of dividend income 0 0 0 Elimination of income and expenses with no impact on cash flow 0 0 0 Calculated income and expense form share-based payments 103 102 1 Operating cash flows after cost of net financial debt and tax -1,686 -300 -1,385 Elimination of the income tax expense (income) -233 114 -347 Elimination of the cost of net financial debt 283 254 29 Operating cash flows before cost of net financial debt and tax -1,636 68 -1,704 Impact of the change in working capital requirement -777 7,548 -8,325 Taxes paid -152 -124 -28 Net cash flows from operating activities -2,564 7,492 -10,056 Impact of changes in scope -1 -10 9 Capital expenditure on tangible and intangible assets -4,897 -1,813 -3,084 Capital expenditure on financial assets 0 0 0 Change in loans and advances granted -460 -7,502 7,042 Investment subsidies received 1 0 1 Proceeds from disposal of tangible and intangible assets 4 0 4 Disposal of financial assets 0 0 0 Dividends received 0 0 0 Other cash flows from investing activities -141 0 -141 Net cash flows from investing activities -5,493 -9,325 3,832 Share capital increase 0 0 Sale (purchase) of treasury shares 25 -10 35 Increase in loans 5,185 561 4,624 Repayment of loans -462 -536 74 Net financial interest paid -113 -252 139 Dividends paid to Group shareholders 0 0 0 Dividends paid to non-controlling interests 0 0 0 Other cash flows from financing activities 0 0 0 Net cash flows from financing activities 4,635 -238 4,873 Impact of exchange rate fluctuations 9 -249 258 Impact of changes in accounting policies 0 0 0 Change in cash and cash equivalent -3,413 -2,319 -1,094 Opening cash position 10,175 12,321 -2,146 Closing cash position 6,762 10,002 -3,239
EBITDA: This is the net consolidated revenue, including companies' fiscal expenses, net financial expenses and net appropriations to depreciation and provisions.
Net debt: Financial debt less liquid assets and short term investment securities
EPC: Engineering, Procurement and Construction contract. This is a contract of engineering, supply and construction.
Gearing: net debt / (net debt + equity ratio)
KIWI:Kobelco Eco Solution (KES) Industrial CHO PoWer GasIfication is a R&D program that aims to test the combination of a new type of gasifier developed by KES and the turboplasma® (syngas cleaning process by plasma) developed by Europlasma, for the production of energy from waste and biomass.
KNPP: Kozloduy Nuclear Power Plant is a contract for the supply of a plasma furnace to reduce and immobilize radioactive waste in Bulgaria.
O&M: Operation and Maintenance contract.
SESCO: Solar Energy Storage with COfalit material is a R&D program that aims to reuse the Cofalit material (product coming from vitrified asbestos waste) in the solar thermal energy storage industry.
SFAF: the French Financial Analysts' Association (or SFAF) is a professional association that aims to contribute to the improvement of financial analysis techniques, as well as to the development of high- quality economic and financial information. Its members are mostly financial analysts or portfolio managers.
Europlasma is a French Group operating in the clean technologies and renewable energy production industries. Founded in 1992 to apply its proprietary plasma torch technology to hazardous waste destruction, it is now built on the following four business units:
- Europlasma is a world-wide supplier of plasma heating systems and related applications
- Inertam is the global specialist in the destruction and recycling of asbestos and hazardous waste
- Europe Environnement is the European expert in industrial ventilation and gas cleaning systems.
- CHO Power is a producer of electricity from waste and biomass gasification.
http://www.europlasma.com [Alternext - NYSE Euronext Paris - Mnemo : ALEUP - Isin : FR0000044810]
This release contains provisional information and statements based on the best estimates of the Management at the date of their publication. This information is, by nature, subject to risks and uncertainties which are difficult to predict and generally outside of the Group's field of action. These risks include the risks listed in the Group's reference document available on its website http://www.europlasma.com.
Consequently, the future performance of the Group may differ significantly from the provisional data communicated and the Group can make no commitment to the achievement of these provisional elements.
Press and investor contacts
Didier PINEAU, Chief Executive Officer / Anne BORDERES in charge of Shareholders Relations
Estelle MOTHAY, Chief Financial Officer
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Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Jun. 25, 2016 10:15 AM EDT Reads: 1,220
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jun. 25, 2016 10:00 AM EDT Reads: 666
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jun. 25, 2016 09:30 AM EDT Reads: 1,081
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
Jun. 25, 2016 07:45 AM EDT Reads: 1,053
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Jun. 25, 2016 07:30 AM EDT Reads: 877
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Jun. 24, 2016 01:00 PM EDT Reads: 1,331
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Jun. 24, 2016 12:00 PM EDT Reads: 1,589
industrial company for a multi-year contract initially valued at over $4.0 million. In addition to DataV software, Bsquare will also provide comprehensive systems integration, support and maintenance services. DataV leverages advanced data analytics, predictive reasoning, data-driven diagnostics, and automated orchestration of remediation actions in order to improve asset uptime while reducing service and warranty costs.
Jun. 22, 2016 11:00 AM EDT Reads: 1,351
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
Jun. 19, 2016 12:45 PM EDT Reads: 1,243