DAILY INNOVATION BRIEF by Edward 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.

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.

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