DAILY INNOVATION BRIEF by Maryanne Kane, Journalist

 DAILY INNOVATION BRIEF              

By Journalists Edward Kane & Maryanne Kane

BIG OIL & GAS:  THANK YOU CLIMATE CHANGE

                                                                        Source:  Stock

• $7 trillion worth of petroleum reserves have been exposed in the Arctic due to Climate Change melting ice.  Here's what we know:
• The treasure trove of petroleum in the Arctic is being called a modern-day Gold Rush
• Corporations and nations are poised to make trillions of dollars on it
• 90 billion barrels of oil are soon to become available as ice melts
• 84% of the petroleum is said to be offshore
• Additionally, nearly 1.7 trillion cubic feet of natural gas and 44 billion barrels of liquid natural gas are estimated to be there by the US Geological Survey
• Arctic countries like the US and Canada hold rights to drill in their territory
• Russia's Gazprom is already drilling
• Big oil sees this as a major business opportunity
• Greenpeace sees this as a bitter irony that companies that helped bring about Climate Change see this as a big business opportunity rather than a dire cost of Climate Change.

H-CAR MADE OF SEAWEED, PLASTIC & BIO-MATERIALS

 

                                              Source:  GAC

• China's GAC Motors has developed a hydrogen powered car composed of seaweed, plastic and bio-materials.  Here are some key facts:
• GAC's ERA concept car was just unveiled at Guangdong Auto Show
• Aerodynamic car body is made from seaweed, plastic and bio-based materials
• Very stylish, big SUV design
• Advanced platform that can use different types of energy
• Features hydrogen fuel cells and 200 kw electric distributed motors on rear axle
• 540 hp
• 497-mile range
• Lots of new technologies including integrated headlights, sensors and cameras on the front of the car
• Very eco-friendly vehicle with international design team involved in China, Los Angeles and Milan to showcase the future of green driving.
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AMAZON, iROBOT AND 750,000 ROBOTS

                                  Source:  Amazon & iRobot

• Amazon is purchasing MA-based iRobot vacuum company, adding to its massive fleet of robots and smart devices.  Here are the key facts:
• Reuters is reporting that Amazon is about to get unconditional European Union approval for its purchase of iRobot, an established & successful robotics company, founded by MIT graduates
• That sent iRobot's share price up 39% to a record high of $41.48 today
• At issue to EU regulators:  Amazon's acquisition of data from the global robotics company that would increase Amazon's market dominance
• The EU examined Amazon's dominance in robots and smart home devices like Alexa, smart thermostats, smart security devices, wall-mounted smart displays
• Another fact:  Amazon is a robotics leader with 750,000 robots at work in its network of warehouses
• And it is putting millions of dollars into new robot development
• At the end of the day, it looks like the acquisition is being approved by the EU
• Now the US Federal Trade Commission needs to do the same for the deal to clear Europe and the US.

 "Daily Innovation Brief"© By Edward Kane