Artificial Intelligence
QUADIENT SA: Solid growth in subscriptions drives positive start to the year: Q1 2023 consolidated sales up 2.1% organically
Solid growth in subscriptions drives positive start to the year:
Q1 2023 consolidated sales up 2.1% organically
Key highlights
- Consolidated sales of €256 million, up +2.1% organically1 and up +1.3% on a reported basis
- Q1 2023 subscription-related revenue up +3.1% on an organic basis, representing 72% of total revenue
- Strong performance from North America with all three solutions contributing to the +5.9% organic growth in the region
- FY 2023 outlook confirmed
Paris, 31 May 2023,
Quadient S.A. (Euronext Paris: QDT, eligible for PEA-PME investing), a leader in business solutions for meaningful customer connections through digital and physical channels, announces today its 2023 first-quarter consolidated sales (period ended on 30 April 2023).
Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated: “We had a positive start to the year with Q1 sales driven by continuous strong performance in North America and further growth in subscription-related revenue. The good momentum experienced in North America reflects the scale and maturity of our business model in the region while we are now increasingly focusing on rolling out our strategic plan in other regions, particularly in Western Europe. For example, in the UK and in France, we are driving the deployment of our open parcel locker networks as well as growing our recently launched automated accounts receivable and accounts payable software offerings. We are also very much encouraged by the contribution of each one of our three Solutions to the first quarter sales. Our Mail–Related Solutions continue to show a high level of resilience and good hardware placements. As the transition towards a SaaS2 model nears completion, revenue from our Software activities is accelerating to a double-digit organic growth. And we expect higher customer retention, more up-selling and more cross-selling to be driven by our newly released integrated modular hub for which over 1,000 customers have already been onboarded within a few weeks. Last but not least, Parcel Locker Solutions delivered a healthy organic growth with improving trends in the US and positive developments in Europe. Based on this good start to the year, we confirm our FY 2023 guidance as well as our mid-term 2021-23 financial targets.”
FIRST-QUARTER 2023 SALES
Group sales stood at €256 million in Q1 2023, a 2.1% organic growth compared to Q1 2022 and a 1.3% increase on a reported basis. The variation includes a positive currency impact of +0.6% or €1 million and a negative scope effect of (1.4)% or €(3) million. The change of scope is related to the divestments of the Graphic activities in the Nordics and the Shipping business in France, both sold in June 2022.
Consolidated sales by Solution
Consolidated Sales
| In € million | Q1 2023 | Q1 2022 restated(a) |
Change | Organic change1 |
| Intelligent Communication Automation | 58 | 52 | +11.0% | +10.4% |
| Mail-Related Solutions | 176 | 177 | (0.3)% | (1.1)% |
| Parcel Locker Solutions | 21 | 20 | +7.4% | +8.7% |
| Other solutions divested in 2022 | 0 | 3 | n/a | n/a |
| Group total | 256 | 253 | +1.3% | +2.1% |
| (a) Mail-Related Solutions and Parcel Locker Solutions now includes activities previously accounted for in Additional Operations. | ||||
Intelligent Communication Automation
In Q1 2023, sales from Intelligent Communication Automation reached €58 million, up 10.4% organically and up 11.0% on a reported basis compared to Q1 2022. Subscription-related revenue, which recorded a strong 20.7% organic growth, accounted for 80% of Intelligent Communication Automation total sales in Q1 2023, a significant increase compared to the 73% recorded in Q1 2022.
At the end of Q1 2023, annual recurring revenue, which is a forward-looking indicator of future subscription-related revenue, reached €193 million, up from €187 million at the end of FY 2022. Of note, the strong contribution of the Mail-Related Solutions sales force driving a 100% increase in Software cross-sell bookings.
The share of SaaS customers reached 80% at the end of Q1 2023 compared to 78% at the end of Q1 2022. As the transition to the SaaS model continues to progress, the weight of license sales has decreased further, recording an (8.5)% organic decline in Q1 2023. Software licence sales only represented 7% of Intelligent Communication Automation total sales in Q1 2023. Professional services (13% of sales) also went down, recording a (21.7)% organic decline. This acceleration of the decline is due to the change in business model, driving less services for onboarding cloud customers and to the customer mix evolution towards mid-sized companies.
Pursuing the mission to unify business communications and financial automation into one single cloud-platform, Quadient product teams released the first version of the new Quadient Hub, an intuitive and user-friendly interface for all Quadient software solutions with centralized access in one location. Focus is on powering the platform with Artificial Intelligence and on driving decisions with analytics to offer insightful recommendations and data-driven improvements. Over 1,000 customers have already been onboarded on this new platform. Importantly, this modular hub is providing the Group with a powerful driver of cross-sell and up-sell.
During the first quarter of 2023, Quadient further improved the features of its software offering. Firstly, Quadient released a new advanced AI-based cash application service to offer mid-market and enterprise customers a complete end-to-end accounts receivable (AR) automation solution. Secondly, Quadient’s accounts payable (AP) solution was integrated with Sage 100, a leading business management enterprise resource planning (ERP) solution for small and medium-sized businesses.
Q1 2023 also brought additional external recognitions for Quadient’s SaaS solutions. Quadient was again named as a leader in the 2023 SPARK MatrixTM for Customer Communication Management solutions and has also joined for the first time the selective “Invoice to cash” Gartner® Magic Quadrant™ in 2023, being one amongst only nine ranked companies out of twenty surveyed by Gartner in a very competitive market.
Mail-Related Solutions
Mail-Related Solutions sales reached €176 million in Q1 2023 slightly down (0.3)% on a reported basis and down (1.1)% on an organic basis. While the level of activity remains dynamic in North America, for both subscription-related revenue and hardware sales, the Main European countries are lagging.
Overall, the solid trend seen in the last few quarters for hardware sales continued in Q1 2023 with a 3.7% organic increase. Quadient’s strategy to renew its product offering supports this positive trend thanks to the increasing penetration of the new generation of innovative machines. The share of the upgraded installed base reached 22.0% at the end of Q1 2023, vs 19.9% at the end of FY 2022.
Subscription-related revenues (70% of Mail-Related Solutions sales) recorded a limited (3.0)% decline in Q1 2023, a resilient performance driven by both the solid installed base and the contribution from multi-year largely indexed contracts.
This focus on mobilizing the sales force to both nurture its installed base and to seize cross-sell and up-sell opportunities remained extremely dynamic in Q1 2023 as Mail-Related Solutions sales force drove a 100% increase in Software cross-sell bookings.
Parcel Locker Solutions
Parcel Locker Solutions sales increased by 7.4% on a reported basis, to €21 million in Q1 2023, an 8.7% organic increase compared to Q1 2022.
License and hardware sales were slightly up 1.5% organically in Q1 2023, as new US locker installations start to normalise after the recent delays experienced in the residential and retail segments.
Subscription-related revenues were up 11.2% organically, well oriented thanks to the strong contribution from the existing installed base and the deployment of existing contracts. Usage rate remains solid standing at 58% in Q1 2023. Subscription-related revenue stood at 65% of total revenue for Parcel Locker Solutions in Q1 2023.
The development of the UK open network progresses and in Q1 2023, Quadient signed new partnerships with APCOA and Rontec. Those two parking and forecourts specialists represent up to 1,000 potential sites on which lockers could be installed as part of the deployment of the open network. Interest and request for information from retailer, carriers, and other
e-commerce players for open networks of parcel lockers are high and Quadient is capitalising on its agnostic approach to grow in this field. In France, for example, a second carrier recently joined the open network, alongside Relais Colis.
Quadient’s global installed locker base reached c.18,500 units at the end of Q1 2023.
Consolidated sales by geographies
| In € million | Q1 2023 | Q1 2022 | Change | Organic change1 |
| North America | 145 | 135 | +8.1% | +5.9% |
| Main European countries(a) | 86 | 89 | (2.8)% | (3.8)% |
| International(b) | 24 | 29 | (18.0)% | +2.9% |
| Group total | 256 | 253 | +1.3% | +2.1% |
| (a) Including Austria, Benelux, France, Germany, Ireland, Italy, Switzerland, and the United Kingdom. (b) International includes the activities of Intelligent Communication Automation, Mail-Related Solutions and Parcel Locker Solutions outside of North America and the Main European countries as well as, in Q1 2022, other solutions previously recorded under Additional Operation and divested in Q2 2022s. |
||||
Sales in North America (57% of Group sales) were up 5.9% organically to €145 million and 8.1% on a reported basis. All three Solutions posted organic growth. Strong performance from Intelligent Communication Automation as well as solid hardware sales for Mail-Related Solutions, close to double digit growth and significatively outpacing the market, were the main contributors to the growth in the region. Penetration of Quadient’s cloud-based solutions continues to be well supported by successful cross-selling from the Mail customer base. Quadient’s Accounts Receivable and Accounts Payable cloud solutions also performed well in the region, contributing to the overall solid performance for the quarter. Parcel Locker Solutions experienced a solid double-digit increase following last year’s delays in the deployment of retail and residential projects.
Main European countries (34% of Group sales) were down by 3.8% organically and 2.8% on a reported basis to €86 million Performance has been contrasted by Solution in the region. Mail-Related Solutions posted a lower year-over-year organic contribution while Intelligent Communication Automation benefited from the penetration of the recently launched Accounts Receivable and Accounts Payable cloud solutions. However, the decline in license sales due to the change in business model continues to impact the overall growth for this Solution. Parcel Locker Solutions recorded growth in the region, supported by the on-going deployment of existing contracts.
The International segment (9% of Group sales) delivered a 2.9% organic growth, to €24 million, continuing the positive trend seen throughout 2022 with Intelligent Communication Automation as the prime contributor to the growth while Mail-Related Solutions showed strong resilience in the quarter. The 18.0% reported decline recorded by the International segment is due to currency impact and to the scope effect related to the divestment of the Graphic activities in the Nordics and the Shipping business in France, both sold in June 2022.
OUTLOOK
FY 2023 guidance and 2021-2023 financial outlook confirmed
The 2.1% organic growth recorded in Q1 2023 as well as the robust business trends seen across all three Solutions enable the Group to be confident in its ability to deliver its FY 2023 guidance as well as its three years 2021-23 CAGR targets. The recurring nature of the business model offers a good visibility of future revenues while demand for automation services remains very solid, fuelling growth. Further contribution from the phased pricing indexation is also expected to contribute to the full-year performance. FY 2023 guidance as well as the mid-term financial outlook are therefore confirmed.
Revenue guidance
- Sales outlook is confirmed at minimum 3% organic sales CAGR over 2021-23
- FY 2023 organic sales growth is expected at c.3%.
Current EBIT3 guidance
- Current EBIT3 outlook is confirmed at minimum mid-single digit organic4 current EBIT3 CAGR over 2021-23
- FY 2023 organic growth5 in current EBIT3 is expected at c.10%.
BUSINESS HIGHLIGHTS
Quadient introduces iX‑1 postage meter in U.S. for small business and home offices
On 1 February 2023, Quadient announced the general availability in the U.S. of the Quadient iX‑1 postage meter, a compact yet powerful mailing system that combines mail and parcel processing into one user‑friendly solution designed for the small office environment.
New Drop Box facilitates returns with Parcel Pending by Quadient lockers in UK; Evri to be the first carrier to use the technology
On 7 February 2023, Quadient introduced an additional feature for its Parcel Pending by Quadient smart lockers that enables shoppers to easily drop off parcels, with the added ability to print shipping labels if needed.
Quadient celebrates milestone of 10,000 smart locker units Installed in North America and 18,000 worldwide
On 28 February 2023, Quadient announced it has reached a significant milestone with more than 10,000 parcel locker units in operation in the United States and Canada and a total of 18,000 units globally.
Ferguson selects Quadient’s smart lockers for convenient, secure order pickup
On 13 March 2023, Quadient announced Ferguson, a leading distributor providing expertise, solutions, and products from infrastructure, plumbing and appliances to HVAC1, fire, fabrication and more, has deployed Parcel Pending by Quadient smart lockers, including the new line of oversized lockers, in direct response to customer demand for a streamlined in‑store pickup experience during and outside of regular store hours.
Ferguson operates over 1,500 locations in the United States, serving all fifty states, many with same‑day and next‑day product availability.
Quadient accelerates growth of cloud‑based solutions in the public sector with more than twenty new contracts signed in 2022
On 15 March 2023, Quadient announced growth momentum for its Intelligent Communication Automation solutions among public sector organizations across major geographies. In the 2022 fiscal year that closed 31 January 2023, more than twenty new public sector organizations selected Quadient’s cloud‑based solutions to manage critical multichannel communications, accounting for nearly 10% of new contracts’ value and almost a tenfold increase over 2021.
Already more than 20,000 customers signed up for Switch™, Quadient’s secure online mail platform for small businesses
On 29 March 2023, Quadient announced the growth of its digital mail business, supported by Switch™, a cloud‑based platform for sending business mail online, replacing traditional document printing and mailing processes, as well as saving valuable time.
Quadient announces its eligibility for PEA‑PME scheme
On 31 March 2023, Quadient announced its eligibility for the PEA‑PME scheme, as it complies with the criteria for inclusion set by Article L.221‑32‑2 of the French Monetary and Financial Code.
Consequently, investment in Quadient shares can be made through PEA‑PME accounts.
New international carrier joins Quadient’s open locker network in France
On 6 April 2023, Quadient announced that it has secured a new contract with an international carrier for the use of its open network of smart parcel lockers in France alongside Relais Colis, Quadient’s long‑time partner in this business.
Quadient expands UK open locker network with two new host partners giving access to more than 1,000 sites
On 12 April 2023, Quadient announced that it will expand its Parcel Pending by Quadient Open Locker Network in the UK, with two new host partners representing more than 1,000 potential sites for lockers:
- APCOA: UK and Ireland’s leading parking mobility technology & solutions provider working across transportation, health & education, retail, and local government sectors.
- Rontec: One of the leading players in the UK forecourt industry, operating 264 roadside retail forecourts under the Esso, BP, and Shell brands.
Quadient achieves leader position in 2023 SPARK Matrix for customer communications management
On 17 April 2023, Quadient announced that it has been named by Quadrant Knowledge Solutions as a 2023 technology leader in the SPARK Matrix™: Customer Communication Management, 2023.
Quadient announces AI-based cash application module to accelerate invoice-to-cash processes
On 26 April 2023, Quadient announced the global availability of a new Advanced Cash Application module for Quadient’s Intelligent Communication Automation SaaS platform, to offer mid-market and enterprise customers a complete end-to-end Accounts Receivable (AR) automation solution.
Quadient connects its accounts payable solution to Sage 100 to enhance and streamline invoice processing
On 27 April 2023, Quadient announced that its accounts payable automation solution, Quadient Accounts Payable (AP) by Beanworks, is now connected to Sage 100, a leading business management enterprise resource planning (ERP) solution for small and medium-sized businesses.
POST-CLOSING EVENTS
Bunker Hill community college selects Quadient smart lockers to provide students with flexible, private access to food
On 2 May 2023, Quadient announced that Bunker Hill Community College (BHCC), a public community college in Boston, Massachusetts serving a diverse student population of over 16,000, has selected Parcel Pending by Quadient refrigerated lockers to expand its successful DISH Food Pantry program that assists students struggling with food insecurity.
Quadient recognized for the first time in 2023 Gartner Magic Quadrant for integrated invoice-to-cash applications
On 9 May 2023, Quadient announced that for the first time, it has been recognized by Gartner® in the Magic Quadrant™ for Integrated Invoice-to-Cash Applications for its offering, Quadient Accounts Receivable (AR) by YayPay. The evaluation was based on specific criteria that analyzed the company’s overall completeness of vision and ability to execute.
Gartner Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. The research enables organizations to get the most from market analysis in alignment with their unique business and technology needs.
Quadient awarded Platinum rating by EcoVadis for second year, placing in the top 1% of companies
On 11 May 2023, Quadient announced it has been awarded a Platinum rating by EcoVadis for the second year running. EcoVadis is a leading ratings organization for sustainability, and its Platinum rating is the highest distinction awarded to the top 1% of performing companies that EcoVadis rates in different industries. EcoVadis assesses more than 100,000 companies in over 175 countries across two hundred industries, evaluating twenty-one sustainability criteria in four core themes: Environment, Labor & Human Rights, Ethics and Sustainable Procurement.
OneRail and Quadient partner to provide faster and frictionless delivery solutions
On 23 May 2023, Quadient announced a partnership to provide smart lockers as part of an omnichannel solution for a fast and seamless delivery experience.
Integrated with OneRail’s Omnipoint platform, the Parcel Pending by Quadient smart locker system can be seamlessly incorporated into the existing order fulfillment process of retailers, enabling them to offer efficient and reliable delivery options to their customers and greater flexibility for delivery drivers to quickly pick up products, no matter the size, all while maintaining the visual integrity of the retail location.
To know more about Quadient’s newsflow, previous press releases are available on our website at the following address: https://invest.quadient.com/en-US/press-releases.
CONFERENCE CALL & WEBCAST
Quadient will host a conference call and webcast today at 6:00 pm Paris time (5:00 pm London time).
To join the webcast, click on the following link: Webcast.
To join the conference call, please use one of the following phone numbers:
▪ France: +33 (0) 1 70 37 71 66.
▪ United States: +1 786 697 3501.
▪ United Kingdom (standard international): +44 (0) 33 0551 0200.
Password: Quadient
A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.
CALENDAR
- 16 June 2023: Annual General Shareholders Meeting
- 20 September 2023: Half-year 2023 results
About Quadient®
Quadient is the driving force behind the world’s most meaningful customer experiences. By focusing on three key solution areas, Intelligent Communication Automation, Parcel Locker Solutions and Mail-Related Solutions, Quadient helps simplify the connection between people and what matters. Quadient supports hundreds of thousands of customers worldwide in their quest to create relevant, personalized connections and achieve customer experience excellence. Quadient is listed in compartment B of Euronext Paris (QDT) and is part of the CAC® Mid 60 and EnterNext® Tech 40 indices. Quadient shares are eligible for PEA-PME investing.
For more information about Quadient, visit https://invest.quadient.com/
Contacts
1 Q1 2023 sales are compared to Q1 2022 sales, from which is deducted revenue from Graphics activities in the Nordics and Shipping business in France for a consolidated amount
of –€3 million, and are restated for a €1 million positive currency impact over the period.
2 Software as a Service
3 Current operating income before acquisition-related expenses.
4 Based on 2020 current operating income before acquisition-related expenses excluding Parcel Pending’s earn-out reversal, i.e. €145 million, with a scope effect resulting in a €140 million pro forma. The organic growth calculation excludes scope, forex and IFRIC impacts.
5 Organic change excludes currency, scope and IFRIC impacts.
Attachment
Artificial Intelligence
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
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
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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