🧊 CubeCold strengthens position with acquisition of Herve

Welcome back to CubeCold News where we cover the latest developments in the cold chain industry and temperature-controlled logistics.

In today’s edition:

• CubeCold Europe strengthens position with acquisition of Herve Transport & Coldstore

• Lineage shares IPO windfall with its workers

• UK researchers develop fridge-free hydrogel to store vital medicines

• Supply-chain startup Altana valued at $1B

CubeCold

News

Lineage shares IPO windfall with its workers Lineage Logistics has announced a $100 million investment in its U.S. workforce through IPO awards and ongoing grants under its Employee Equity Incentive Plan.

• The investment will provide equity awards to eligible employees, allowing them to share in the financial benefits of the company's growth and public offering.

• The Employee Equity Incentive Plan is designed to foster a sense of ownership and align employees' interests with the company's long-term goals.

• By offering equity awards, Lineage aims to enhance employee engagement, retention, and motivation.

• This move is also intended to attract new talent in a competitive labor market.

• Lineage's leadership believes that investing in their workforce is crucial for sustaining the company's growth and maintaining high service standards. (link)

UK researchers develop fridge-free hydrogel to store vital medicines Researchers at the University of Bath have developed a groundbreaking hydrogel that can store and transport vital medicines without the need for refrigeration.

• This innovation addresses the significant challenge of maintaining the cold chain for temperature-sensitive pharmaceuticals, which is particularly problematic in remote and resource-limited areas.

• The hydrogel, described as a "fridge-free" solution, is made from a polymer that can absorb and release water.

• It can maintain a stable temperature range suitable for storing vaccines and other critical medications.

• This technology could revolutionize the logistics of pharmaceutical distribution by eliminating the dependency on refrigeration, thereby reducing costs and improving accessibility.

• The research team, led by Professor Matthew Davidson, emphasizes that the hydrogel is not only effective but also environmentally friendly.

• It is designed to be reusable and can be produced from sustainable materials.

• The researchers are now focusing on scaling up production and conducting further tests to bring this technology to market. (link)

Supply-chain startup Altana valued at $1B Altana, a supply chain management startup, has achieved a $1 billion valuation following a successful $200 million Series C funding round.

• The investment was led by Thomas Tull’s US Innovative Technology Fund (USIT) and included contributions from March Capital, Generation Investment Management, Salesforce Ventures, and existing investors like GV (Google Ventures) and Activate Capital.

• Founded in 2019 by Evan Smith, Peter Swartz, and Raphael Tehranian, Altana aims to bring transparency and efficiency to global supply chains using artificial intelligence.

• The platform maps and optimizes supply and distribution networks, helping businesses manage everything from raw materials to finished products. This includes addressing compliance, security, procurement, and sustainability issues.

• Altana's technology integrates public and proprietary data to create a comprehensive view of supply chains, which it calls "federated learning."

• This approach allows companies to gain insights without compromising data privacy.

• The platform also features generative AI capabilities that help users ask complex supply chain questions in plain English.

• The new funding will support further product development and enhance AI-driven collaborative workflows.

• Altana’s clients include major organizations like Maersk, L.L. Bean, and U.S. Customs and Border Protection. (link)

Other headlines

Hultsteins UK has teamed up with ‘green energy’ electric fridge innovator Courage Technologies SL.

Almac Clinical Services has expanded its Asia Pacific operations by investing in a new cold chain facility in Singapore.

Dachser has completed the acquisition of the Brummer Group, integrating it into its European network for temperature-controlled food logistics.

Thai Union has opened a new cold storage facility in Ghana to enhance its seafood processing and distribution capabilities in West Africa.

Alcami has expanded its pharmaceutical cold storage capacity in Kansas to enhance its logistics capabilities for temperature-sensitive medications.

How the cool chain is evolving - interview with Nick Finbow, Perishable Sales Director at International Cargo Logistics Limited.

That’s it for today!

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