Artificial Intelligence

SOITEC REPORTS FULL YEAR RESULTS OF FISCAL YEAR 2020

Published

4 years ago

June 10, 2020

SOITEC REPORTS FULL YEAR RESULTS OF FISCAL YEAR 2020Sales of €597.5m, up 35% on a reported basis and up 28% at constant exchange rates and perimeter¹ Electronics EBITDA² margin³ at 31.0% of salesNet profit up 22% at €109.7mElectronics net operating cash flow up 70% at €100.7mElectronics investments of €108.8m, mainly allocated to ongoing capacity expansionFY’21 sales expected to be stable at constant exchange rates and perimeter¹ and Electronics EBITDA² margin³ expected around 30%FY’22 sales now expected around €800m⁴Bernin (Grenoble), France, June 10^th, 2020 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced its full-year results for the fiscal year 2020 (ended on March 31^st, 2020). The financial statements⁵ were approved by the Board of Directors during its meeting today.Paul Boudre, Soitec’s CEO, commented: “It has been an amazing journey for Soitec as we delivered sustained growth year after year to reach in fiscal year 20 a record amount of close to 600 million euros in sales, 2.5 times higher than what it was just 3 years ago. This demonstrates the growing adoption of our engineered substrates that are designed to significantly improve the performance of electronic products. We also confirmed our ability to deliver strong operating performance, as reflected by our Ebitda margin which remains above 30%, and generate a very solid operating cash flow, further strengthening our financial position. I would like to specifically thank Soitec’s teams for their contribution to this remarkable achievement, as well as for their continuous dedication during the Covid-19 crisis.This exciting journey will continue as we are preparing ourselves for the next challenges that the semiconductor industry will have to overcome, bringing new solutions that fit the needs of an increasingly digital and connected world. Thanks to our current product portfolio, we already are well positioned to lead the opportunities created by the semiconductor megatrends: 5G, artificial intelligence and energy efficiency. Beyond our silicon-on-insulator (SOI) products, we are developing and commercializing new advanced materials, including piezo-on-insulator (POI), Gallium Nitride and Silicon Carbide to address our strategic end-markets – from smartphones to automotive and from IoT to cloud and infrastructure. Despite the short-term challenging environment created by the Covid-19 outbreak, we remain very confident in our growth prospects for the next couple of years and beyond,” added Paul Boudre.Strong increase in revenue and sustained level of EBITDA marginAs previously reported, Soitec’s refocus on Electronics operations decided in January 2015 was nearly completed on March 31^st, 2016. Consequently, the FY’20 residual income and expenses relating to Solar and Other activities are reported under ‘Net result from discontinued operations’, below the ‘Operating income’ line, meaning that down to the line ‘Net result after tax from continuing operations’, the Company consolidated income statement fully and exclusively reflects the Electronics activity as well as the Company’s corporate functions expenses. This was already the case in FY’19 financial statements.Consolidated income statement (part 1)Consolidated sales for FY’20 reached the record level of 597.5 million Euros, up 34.6% compared with FY’19. This is the result of a 28.3% growth at constant exchange rates and perimeter¹ that was supported by solid growth in radiofrequency applications, as well as positive currency impact of +4.6% and a scope effect of +1.7% which is related to the acquisitions of Dolphin Integration assets in August 2018 and EpiGaN in May 2019.150/200-mm wafer sales were up 24% (up 20% at constant exchange rates), reaching 274.9 million Euros. They represent 48% of total wafer sales. This further steady growth in sales came from higher volumes sold, that has been made possible thanks to higher production at Bernin I as well as to an increase in the production outsourced to Soitec’s Chinese partner Simgui. It also reflects a more favorable product mix as a result of the strong growth achieved in RF-SOI 200-mm wafer sales.300-mm wafer sales increased by 43% (up 38% at constant exchange rates), amounting to 294.4 million Euros, which represents 52% of total wafer sales. This strong growth essentially reflects higher volumes enabled by a higher utilization of Soitec 300-mm industrial capacity. It also reflects an improved mix effect. Both volume and mix effects were driven by the very sharp increase in RF-SOI 300-mm wafer sales.Total Royalties and other revenues increased from 17.3 million Euros in FY’19 to 28.3 million Euros in FY’20, including 22.9 million Euros in sales generated by Frec|n|sys, Dolphin Design and EpiGaN.Gross profit reached 195.4 million Euros in FY’20, up from 165.0 million Euros in FY’19. Despite the favorable forex impact and the positive operating leverage due to a higher utilization of the industrial capacity in Bernin, the Group recorded, as anticipated, a decrease in gross margin from 37.2% of sales to 32.7% of sales. Indeed, gross margin was impacted by higher bulk material prices, higher outsourced production, higher depreciation costs and the ramp-up of the Singapore facility.Current operating income increased by 9% to 117.7 million Euros in FY’20, i.e. 19.7% of sales compared to 24.4% of sales in FY’19.Net R&D costs increased from 20.0 million Euros in FY’19 to 32.5 million Euros in FY’20. This increase essentially reflects higher gross R&D Expenses which is partly due to the full-year impact of Dolphin Design and of the integration of EpiGaN, and also to higher resources, and new R&D projects, in particular Silicon Carbide.Selling, general and administrative (SG&A) expenses went up from 36.6 million Euros in FY’19 to 45.2 million Euros in FY’20, also reflecting the integration of Dolphin Design and EpiGaN as well as an increase in costs related to employee compensation schemes (higher number of staff and employee shareholding plan). As a percentage of sales, SG&A expenses went down from 8.2% in FY’19 to 7.6% in FY’20.The EBITDA² from the continuing operations (Electronics) increased by 22% to 185.4 million Euros. The EBITDA² margin reached 31.0% of sales in FY’20, compared with a margin of 34.3% of sales in FY’19.Depreciation and amortization expenses went up from 24.6 million Euros in FY’19 to 45.5
million in FY’20 essentially as a result of the high level of investments carried out by the Group in previous years, but also, to a smaller extent, to the full-year impact of Dolphin Design and the integration of EpiGaN.Significant increase in net profitConsolidated income statement (part 2)The Group recorded 1.8 million Euros in other operating income in FY’20 reflecting a gain on the disposal of an industrial site near Paris which was no longer in use. As a result, the operating income reached 119.5 million Euros in FY’20, up 10% compared to FY’19.The net financial result has improved to (4.1) million Euros in FY’20 from (8.1) million Euros in FY’19 essentially thanks to a foreign exchange gain of 0.6 million Euros recorded in FY’20 compared to a loss of 4.6 million Euros in FY’19. The financial expense incurred during FY’20 mostly includes the non-cash interests related to the convertible bond issued in June 2018.The net result from discontinued operations came at a loss of 0.9 million Euros in FY’20, including a 0.6 million Euros gain on the sale of Soitec’s 20% equity stake in CPV Power Plant n° 1 (project company for the Touwsrivier solar power plant in South Africa).The Group’s consolidated net profit amounted to 109.7 million Euros in FY’20, up 22% compared with a net profit of 90.2 million Euros recorded in FY’19.Higher EBITDA² translates into a sharp increase in operating cash flowsConsolidated cash-flows⁽¹⁾ Adjusted net cash used by investing activities include 24.7 million Euros (25.4 million Euros in 2018-2019) of investments which have been financed through leasing (lease-back) and adjusted net cash generated by financing activities include the same 24.7 million Euros (25.4 million Euros in 2018-2019).The working capital requirements from continuing operations increased by 59.1 million Euros during FY’20. This is essentially a reflection of the higher level of activity as evidenced by the 33.8 million Euros increase in trade receivables and the 51.9 million Euros increase in the level of inventories, the later including a small impact related to the more difficult shipping conditions met in March 2020, in the context of the Covid-19 crisis. The change in working capital was however lower than in FY’19 (+78.7 million Euros). Tax paid amounted to 25.6 million Euros in FY’20 compared to 14.2 million Euros in FY’19.As a result, thanks to the higher EBITDA² recorded and to the lower level of cash outflow related to the change in working capital, net operating cash generated by continuing operations increased substantially, reaching 100.7 million Euros in FY’20, up 70% compared with 59.3 million Euros generated in FY’19.In FY’20, an adjusted net amount of cash of 133.3 million Euros was used in investing activities related to continuing operations. This amount essentially reflects capital expenditure carried out in Bernin and Singapore for 108.8 million Euros and the 25.5 million Euros net cash spent on the acquisition of EpiGaN, a leading European supplier of GaN epitaxial wafer (epi-wafer) materials.Adjusted net cash generated by financing activities related to the continuing operations amounted to 36.8 million Euros. This includes 21.8 million Euros of capital increases related to the implementation of the Group’s employee shareholding plan, new finance leases for 24.7 million Euros and 22.3 million Euros in drawings on credit lines partially offset by the repayment of borrowings including finance leases for 31.3 million Euros. In total, including a 4.6 million Euros negative impact of exchange rate fluctuations net cash used by continuing operations amounted to 0.3 million Euros.Net cash generated by discontinued operations reached 16.0 million Euros. This is mainly due to the 17.1 million Euros proceeds generated by the sale of Soitec’s 20% equity stake in CPV Power Plant n° 1 (project company for the Touwsrivier solar power plant in South Africa) together with the settlement of the outstandings under the loan granted by Soitec to one of CPV Power Plant n° 1’s shareholders. This transaction marks the completion of Soitec’s withdrawal from solar businesses.Overall, despite the sustained level of investments carried out, Soitec’s cash position has increased by 15.7 million Euros during FY’20 to reach 191.0 million Euros on March 31^st, 2020.Further strengthened financial positionThanks to the strong growth and the solid operating performance achieved during the year, Soitec has maintained a very healthy balance sheet, despite another year of sustained investments.Shareholders’ equity increased by 153.4 million Euros in FY’20 to 551.7 million Euros, mainly thanks to the net profit generated during the period.Financial debt slightly increased from 221.8 million Euros on March 31^st, 2019 to 244,7 million Euros on March 31^st, 2020. Long-term debt decreased by 6.7 million Euros to 192.5 million Euros following the reimbursement of 22.2 million Euros and despite the addition of new leasing contracts as well as the recording of a debt valued at 3.1 million Euros related to a put option granted to EpiGaN minority shareholders. Short-term debt went up by 29.6 million Euros to 52.2 million Euros mainly as a result of a 23.9 million Euros increase of the amount drawn on a credit facility.
Consequently, the net debt position⁶ ended at 53.7 million Euros compared to 46.5 million Euros on March 31^st, 2019. Net debt to equity ratio has further improved, standing at 0.10 on March 31^st, 2020.At the end of March 2020, Soitec liquidity position was very strong. In addition to 191,0 million Euros available in cash and cash equivalents, the Group was benefitting from 45 million Euros of undrawn credit lines as well as from an undrawn 12-year maturity 200 million Euros loan which was granted to Soitec by Banque des Territoires (Caisse des Dépôts Group) on March 27^th, 2020, as part of Nano 2022 plan and program Investing for the Future (“PIA, Programme d’investissements d’avenir”): the drawings on this facility will be phased within the next few years to support the financing of both R&D programs and investments in first industrial deployment infrastructures in France.Key events of FY’20Acquisition of EpiGaNOn May 13^th, 2019, Soitec announced the acquisition of 100% of the share capital of EpiGaN, a leading European supplier of GaN epitaxial wafer (epiwafer) materials, to expand its engineered substrate portfolio into GaN (Gallium Nitride) and therefore accelerate its penetration across high-growth 5G, power and sensor market segments. EpiGaN’s products are used primarily within RF 5G, power electronics, and sensor applications. The amount for this acquisition is 30 million Euros in cash, plus an additional earn-out payment based on completion of certain milestones.POI production capacity increase at Bernin IIIOn September 13^th, 2019, Soitec announced an increase in its production capacity of innovative piezoelectric-on-insulator (POI) substrates at Bernin III to meet growing customer demand for smartphones’ 4G/5G RF filters. 4G and 5G networks are using an increasing number of frequency bands to enable high speed data transmission. As a result, smartphones must integrate a higher number of filters with enhanced performance to ensure signal integrity and reliable communication. POI brings combined performance and integration to smartphones’ 4G and 5G filters for mass markets, offering built-in temperature compensation and allowing the integration of multiple filters on a single die.Joint development program with Applied Materials on next-generation Silicon Carbide substratesOn November 18^th, 2019, Soitec announced of a joint development program with Applied Materials on next-generation Silicon Carbide substrates, involving the installation of a silicon carbide engineered substrate pilot line at the Substrate Innovation Center located at CEA-Leti. The objective of this unique strategic program is to develop a robust technology that can overcome the challenges related to supply, yield and cost of silicon carbide substrates in order to efficiently address surging demand from electric vehicles, telecommunication and industrial applications.Whereas Soitec was initially expecting to deliver silicon carbide wafer samples in the second half of 2020, R&D samples have already been built and are ready to be shipped to key customers prospects. The pilot line is expected to be fully operational in the fourth quarter of 2020 and qualification products are expected to be ready in the first quarter of 2021.OutlookIn the context of the Covid-19 situation, Soitec is expecting FY’21 sales to remain stable at constant exchange rates and perimeter¹ and Electronics EBITDA² margin³ to reach around 30%.Consequently, Soitec is updating its FY’22 sales outlook to around 800 million Euros instead of the indication of around 900 million Euros previously stated (both figures being based on a $/€ rate of 1.13).Annual General MeetingSoitec’s Annual General Meeting will be held in September 2020. The actual date of the Meeting will be announced at a later stage.# # #FY’20 results analyst and investor conference call to be held in English on the 11^th of June at 8:00am CETA live webcast of the conference call will be accessible at the following address: https://channel.royalcast.com/webcast/soitec/20200611_1/The slide presentation will be available on Soitec’s website at 8:00am CET.The replay of the event will be available at the same address: https://channel.royalcast.com/webcast/soitec/20200611_1/ or directly from Soitec’s website.AgendaQ1’21 sales are due to be published on July 22^nd, 2020 after market close.DisclaimerThis document is provided by Soitec (the “Company”) for information purposes only.The Company’s business operations and financial position is described in the Company’s registration document 2018-2019 registered by the Autorité des marchés financiers (the “AMF”) on July 4^th, 2019 under visa D.19-0649 (the “Document de Référence”) and in the Company’s FY’20 half year report released on December 2^nd, 2019. Copies of the Document de Référence and of the FY’20 half-year report are available in French and English language through the Company and may also be consulted and downloaded on the Company’s website (www.soitec.com).The Document de Référence is also available on the AMF’s website (www.amf-france.org).Your attention is drawn to the risk factors described in Chapter 2 of the Document de Référence.This document contains summary information and should be read in conjunction with the Document de Référence and the FY’20 half-year report.This document contains certain forward-looking statements. These forward-looking statements relate to the Company’s future prospects, developments and strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. By their nature, forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward-looking statements are not a guarantee of the Company’s future performance.The Company’s actual financial position, results and cash flows, as well as the trends in the sector in which the Company operates may differ materially from those contained in this document. Furthermore, even if the Company’s financial position, results, cash-flows and the developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such elements cannot be construed as a reliable indication of the Company’s future results or developments.The Company does not undertake any obligation to update or make any correction to any forward-looking statement in order to reflect an event or circumstance that may occur after the date of this document. In addition, the occurrence of any of the risks described in Chapter 2 of the Document de Référence may have an impact on these forward-looking statements.This document does not constitute or form part of an offer or a solicitation to purchase, subscribe for, or sell the Company’s securities in any country whatsoever. This document, or any part thereof, shall not form the basis of, or be relied upon in connection with, any contract, commitment or investment decision.Notably, this document does not constitute an offer or solicitation to purchase, subscribe for or to sell securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Company’s shares have not been and will not be registered under the Securities Act. Neither the Company nor any other person intends to conduct a public offering of the Company’s securities in the United States.About SoitecSoitec (Euronext, Tech 40 Paris) is a world leader in designing and manufacturing innovative semiconductor materials. The company uses its unique technologies and semiconductor expertise to serve the electronics markets. With more than 3,500 patents worldwide, Soitec’s strategy is based on disruptive innovation to answer its customers’ needs for high performance, energy efficiency and cost competitiveness. Soitec has manufacturing facilities, R&D centers and offices in Europe, the U.S. and Asia.Soitec and Smart Cut are registered trademarks of Soitec.For more information, please visit www.soitec.com and follow us on Twitter: @Soitec_EN# # #Soitec is a French joint-stock corporation with a Board of Directors (Société Anonyme à Conseil d’administration) with a share capital of € 66,557,802.00, having its registered office located at Parc Technologique des Fontaines – Chemin des Franques – 38190 Bernin (France), and registered with the Grenoble Trade and Companies Register under number 384 711 909.# # # Consolidated financial statements for FY’20Consolidated income statementBalance sheet at March 31, 2020
Consolidated cash-flows
⁽¹⁾ Adjusted net cash used by investing activities include 24.7 million Euros (25.4 million Euros in 2018-2019) of investments which have been financed through leasing (lease-back) and adjusted net cash generated by financing activities include the same 24.7 million Euros (25.4 million Euros in 2018-2019).¹ At constant exchange rates and comparable scope of consolidation; scope effects relate to the acquisitions of Dolphin Integration assets in August 2018 and EpiGaN in May 2019, both included in the caption Royalties and other revenues.² The EBITDA represents the current operating income (EBIT) before depreciation, amortization, non-monetary items related to share-based payments, and changes in provisions on current assets and provisions for risks and contingencies, excluding income on asset disposals. The impact in equity of the first-time application of IFRS 15 was included in EBITDA for the fiscal year ended 31 March 2019. This alternative indicator of performance is a non-IFRS quantitative measure used to measure the company’s ability to generate cash from its operating activities. EBITDA is not defined by an IFRS standard and must not be considered an alternative to any other financial indicator.³ Electronics EBITDA margin = EBITDA from continuing operations / Sales.4 Expectation based on $/€ exchange rate of 1.13.5 Audit procedures were completed and the audit report is in the process of being issued.
⁶ The net debt position represents financial debt less cash and cash equivalents.AttachmentSOITEC PR FY’20 results VA

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More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024

Published

2 days ago

May 17, 2024

CISION (PR Newswire)

more-than-$9-million-awarded-to-high-school-scientists-and-engineers-at-the-regeneron-international-science-and-engineering-fair-2024

Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
“Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases.
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
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Artificial Intelligence

J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

Published

2 days ago

May 17, 2024

CISION (PR Newswire)

In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation.
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.”
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

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Artificial Intelligence

Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024

Published

2 days ago

May 17, 2024

CISION (PR Newswire)

congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024

SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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