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InvestmentPitch Media Video Discusses Nextech AR Solutions’ Forecasting Record Q1 and FY 2023 Revenues Driven by Breakthrough Generative AI

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VANCOUVER, British Columbia, March 01, 2023 (GLOBE NEWSWIRE) — Nextech AR Solutions Corp. (OTCQX:NEXCF) (CSE:NTAR) (FSE:N29), an Artificial Intelligence powered 3D model supplier for Amazon and hundreds of other major e-commerce retailers and brands reports that supported by its ground-breaking generative AI technology, Q1 2023 is currently tracking to be a record quarter for 3D modeling.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with video comments from Nextech AR’s CEO, Evan Gappelberg. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Nextech” in the search box.

The company recently announced a major generative AI breakthrough in 3D model texture creation which enables the company to recreate high-quality 4K textures at scale from just small digital swatches. This technology represents a 720x increase in production speed, providing a finished product in just seconds compared with current technology which consumes hours of manual labor. This breakthrough in texture expansion technology will revolutionize the 3D modeling industry and give Nextech a major competitive edge further solidifying its leadership position in the global 3D model space for ecommerce. The company plans to file a patent in 2023 on this breakthrough technology.

The company’s ARitize 3D platform is a one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Its Artificial Intelligence (AI) turns existing 2D product images into high-quality 3D and Augmented Reality experiences. The company’s innovative technology is protected by a patent called “Generating Three-Dimensional Models by Part”.

ARitize 3D has built a substantial library of 3D models, with most of the 3D models composed of several individual parts. Every time a new 3D model is created, the parts are harvested into Nextech’s AI powered 3D part-library, which now contains 100,000 3D model parts. The more models the company makes, the larger the library gets, and the easier it gets to make new 3D models and scale 3D model production. Nextech is in the process of significantly expanding this large library which is expected to grow to upwards of 1,000,000 individual, unique parts.

The company has a proven track record of developing or acquiring what it believes are disruptive technologies and once commercialized, spinning them out as stand-alone public companies, retaining a significant number of shares, while distributing a percentage of the company to existing shareholders. Nextech has been a favorite with investors, particularly following the highly successful spinoff of ARway in October. With ARway currently trading at $1.17, Nextech’s holdings of 13 million shares are contributing about $15 million to Nextech’s market capitalization.

In September, the company launched Toggle3D, an AR enhanced standalone web application which enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences, with new features allowing multiple users to work at the same time on the same project. With the platform created as a web-based design studio, the user can access everything on the browser with no downloads involved, no updates to keep track of, and no system requirements to worry about. The company is currently in the process of spinning off this company with plans to list it on the Canadian Securities Exchange.

The shares are trading at $0.71. For more information, please visit the company’s website at www.NextechAR.com. Investor Relations is handled by Lindsay Betts, who can be reached at 866-274-8493 Ext 7201 or by email at [email protected].

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000’s of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Nextech AR Solutions has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd, through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Rainbow Robotics participates in ICRA 2024 in Yokohama, Japan: Bimanual Mobile Manipulator ‘RB-Y1’ debuts overseas

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Participating in the International Conference on Robotics and Automation (ICRA 2024) from the 13th to the 16th AI expert research platform, Bimanual Mobile Manipulator RB-Y1 pre-order beginsDAEJEON, South Korea, May 7, 2024 /PRNewswire/ — Rainbow Robotics (CEO Jungho Lee), a robot platform specialized company, will participate as a bronze sponsor at the IEEE International Conference on Robotics and Automation (ICRA 2024), which will be held at Pacifico Yokohama, Japan on May 13.

During this exhibition, Rainbow Robotics will demonstrate its Bimanual Mobile Manipulator ‘RB-Y1’. RB-Y1 is a humanoid-shaped research platform equipped with two arms with 7 degrees of freedom per arm, a single leg with 6 degrees of freedom, and a wheel-type mobile platform.
In particular, in line with the recent trend of the AI era, Rainbow Robotics plans to provide various APIs and options so that SW developers can easily utilize them for research purposes.
Throughout the exhibition period, various demonstrations will be shown of RB-Y1 with real-time remote operation technology, which links the data arm and simulation system. Additionally, Rainbow Robotics plans to exhibit the small-sized high-precision collaborative robot RB3-730 and the quadruped robot RBQ-10.
ICRA (International Conference on Robotics and Automation) is an event hosted by IEEE (Institute of Electrical and Electronics Engineers) and is the world’s largest robotics conference held annually.
Meanwhile, Rainbow Robotics will begin pre-orders for its Bimanual Mobile Manipulator RB-Y1 from May 8. Customers who purchase during the pre-order period will receive free after-sales service for one year, and products are scheduled to be delivered sequentially starting in October. The research platform is sold for US $ 80,000 and the commercial platform is sold for USD $120,000 (VAT excluded). If you would like to pre-order RB-Y1, please contact us through enquiry page or email us at [email protected].
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Artificial Intelligence

Solar EV Charging to Bypass the Grid: A US$2.5 Billion Market by 2034, Says IDTechEx

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Unreliable and fossil fuel-intense electrical grids
BOSTON, May 6, 2024 /PRNewswire/ — Electrification of cars, buses, and trucks drastically reduces CO2 emissions at the point of use compared to a diesel or petrol alternative. The adoption of EVs across all sectors, with IDTechEx predicting over 180 million electric vehicles to be sold annually by 2044. This will contribute to a drastic reduction in tailpipe emissions. However, the overall emissions are usually highly dependent on the energy mix that goes into grid electricity production. In many economies, this contains significant amounts of fossil fuels such as coal and natural gas. Beyond CO2 emissions, some grids are already at capacity, and the increased load of an electric transport sector risks blackouts and power supply issues. South Africa is an EV market with both of these issues, and several innovations have been made using distributed power generation to tackle these challenges. IDTechEx’s research report, “Off-Grid Charging For Electric Vehicles 2024-2034: Technologies, Benchmarking, Players and Forecasts”, explores the challenges and solutions associated with charging EVs in the context of constrained electricity grids.

The South African utility grid is subject to frequent load-shedding, periods when demand exceeds supply, and utility operators are forced to impose rolling black or brownouts of up to 50% capacity. This is a problem for all forms of domestic and industrial electrical use but becomes an especially pronounced problem for commercial EV operators. Fleet operators often must charge at predesignated times to maximize uptime and complete all planned routes. If the grid fails during a charging spot, the entire schedule may be adversely affected by factors beyond an operator’s control. This is an unusual grid situation; however, it presents a possible worst-case scenario for grid-congested and EV-saturated regions. In 2022, a heatwave in California prompted the state government to ask EV owners not to charge to conserve energy. The growth in electric vehicle sales will only make such problems more widespread.
South Africa also has a very carbon-intensive energy mix, with approximately 70% of power generation being from coal. This directly translates into higher lifecycle CO2 emissions from EVs powered by the electrical grid. Whilst South Africa has a particularly fossil fuel energy mix, the source of electricity plays a critical role in the lifecycle emissions of an electric vehicle.  
Disturbed generation gives renewable and grid-independent electricity
One possible solution being trialed in South Africa, amongst other places, is harnessing distributed renewable microgrids to form the backbone of charging networks. By integrating a solar farm, large-scale energy storage (ES), and high-powered charging outlets, Vrendal-based Zero Carbon Charge plans to build an etruck charging network. Not only does this decouple charging from an unreliable grid, it also avoids placing excess electrical demand on utilities, avoids the need for costly grid expansions, and provides free and 100% renewable energy for the trucks to operate on. This is not limited to South Africa; the USA, in particular, has also seen a boom in companies offering grid-free solar-powered charging. In the US, many of the products are smaller scale and transportable, allowing easy setup for EV users who want quick access to EV charging.
Easy setup, no grid connection, but slow charging rates
The main challenge with distributed solar generation for EV charging is the low power output of photovoltaic panels. Most produce around 250 Watts per square meter, which is relatively low. In fact, to charge at 22kW (generally considered Level 2 fast charging), a solar canopy would need to be at least 10 x 10 meters, a considerable footprint, especially in an urban environment. The other challenge is storing energy, as charging will not always be required constantly, so an on-site battery is required to store the generated electricity. Without an integrated on-site battery, charging is impossible when there is no sunlight, such as inclement weather or overnight. On-site battery storage can combat this intermittency.
 
 
Larger solar farms with integrated energy storage can become islanded microgrids, and with enough on-site storage and photovoltaic production, potential grid-independent fast charging is possible. This is the approach proposed for the South African etruck charging network. It is important to note that purely solar solutions are likely to be geographically restricted to areas with high photovoltaic potential. Thus, it is no surprise that the leading regions are Western regions of the US and places like South Africa. Beam Global, a supplier of EV canopy chargers, recently announced its first sales in the European market to the United Kingdom Ministry of Defense. However, the chargers will not be deployed in the mainland of the UK; they will be deployed on a military base in Cyprus, one of the sunniest regions on the continent.
Despite technical challenges, the aging and fossil fuel-heavy nature of grids combined with high EV uptake call for new charging solutions, and IDTechEx predicts that solar charging systems will make up a sizeable portion of the overall US$16 billion off-grid charging infrastructure hardware market by 2034. IDTechEx research also indicates several other technologies likely to be adopted for off-grid EV charging. Hydrogen fuel cell charging is likely to emerge as a key solution for use cases requiring much greater power per area, with a particular expected focus on electrified construction sites. More niche technologies include AWE (airborne wind energy), which harnesses high altitude winds for distributed power generation. For an in-depth look at solar EV charging, as well as alternative technology options such as AWE and hydrogen see IDTechEx’s latest research on the topic, “Off-Grid Charging For Electric Vehicles 2024-2034: Technologies, Benchmarking, Players and Forecasts”.
To find out more about this IDTechEx report, including downloadable sample pages, please visit www.IDTechEx.com/OffGridEV.
For the full portfolio of electric vehicle market research from IDTechEx, please see www.IDTechEx.com/Research/EV.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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Media Contact:
Lucy RogersSales and Marketing [email protected] +44(0)1223 812300
Social Media Links:
Twitter: www.twitter.com/IDTechEx
LinkedIn: www.linkedin.com/company/IDTechEx
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Artificial Intelligence

Doosan Robotics Unveils Max-Powered ‘PRIME-SERIES’ of Collaborative Robots at Automate 2024

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The New P-SERIES Unleashes Efficiency with a 30 Kilogram Payloadand the Longest Reach of Any Cobot to Date
CHICAGO, May 6, 2024 /PRNewswire/ — Doosan Robotics Inc., one of the world’s leading collaborative robot (cobot) manufacturers, unveiled its newest and most powerful P-SERIES (PRIME-SERIES) today at Automate 2024, bringing to the world of robotics the longest reaching cobot to date.

Today’s P-SERIES announcement by Doosan Robotics was marked by a show floor unveiling of the new P3020 – the world’s most powerful cobot for palletizing in existence. The P3020 offers a payload of 30kg (60lbs) and reach of 2,030mm (80in), bringing the ability to palletize from floor to 2m high (stacking up to 10 layers of boxes approximately 8 inches tall) using its simple fixed base without a lift.
Doosan Robotics has successfully dominated the high-payload cobot market in the 20kg range and above, which includes advanced palletizing solutions. Since launching the H-SERIES in 2022, Doosan Robotics has attracted major global customers such as Schiphol Airport and Wacker Korea, significantly enhancing its global market share by 72%. This year, with the introduction of the P-SERIES, the cobot featuring the highest payload and reach yet, expectations are set to soar beyond previous achievements.
Additional key features of the P-SERIES cobot lineup include lower power consumption compared to similar payload cobots by applying its built-in gravity compensation mechanism, inherent wrist-singularity free, and a 5 degree-of-freedom movement with the 4th axis removed and 6th axis speed increased to 360 degrees/second. Doosan Robotics’ continued priority on optimal safety across its solutions is also fully present in the new P3020. This includes achieving the highest PL (e) and Cat 4 safety ratings to ensure both a max-powered and max-safety experience for users.
The motion platform company’s newly unveiled P3020 palletization cobot will be on full display (Booth #850) at Automate 2024 (May 6-9), alongside the company’s ready-to-sell solutions with best-in class partners in Machine Tending, Palletizing, Welding, and Food & Beverage services.  
Driven by its vision to elevate everyday experiences and redefine labor workflows, Doosan Robotics provides a wide, exceptional range of AI cobots aimed to bring about a paradigm shift across various sectors, such as palletizing, manufacturing, logistics, food & beverage, architecture, and service industries. These cutting-edge solutions transcend the constraints of conventional robotics, adeptly maneuvering through intricate scenarios while infusing tasks with enhanced efficiency, safety, and ingenuity. Moreover, the AI system boasts continuous learning capabilities, effortlessly updating its model by autonomously downloading required modules for smooth integration.
“As a motion platform company, Doosan Robotics is meeting the ever-growing need for cobots to mimic human motion, powerfully and safely,” said William Ryu, CEO at Doosan Robotics. “The robotics industry continues to grow at an exponential pace and our lineup of software, cobots and AI differentiates us in our mission to develop cobots with a ‘max-powered, max-efficiency, max-safety’ mindset.”
For more details and videos on the new P3020 cobot by Doosan Robotics, please visit the Doosan Robotics YouTube channel here. For more info, images, and other assets regarding Doosan Robotics’ Automate 2024 overall presence, please visit the press kit here or contact [email protected].
ABOUT DOOSAN ROBOTICSDoosan Robotics is a global leader in collaborative robot solutions, embodying the principle of ‘Innovation in every motion, revolutionizing the way we work.’ Doosan robots, known for world-class safety and precision, enhance task efficiency across various sectors from manufacturing to service, enabling people to focus on more valuable work. More information about Doosan Robotics is available at https://www.doosanrobotics.com/en/.
 
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