Business
HydroGraph ties up with LOLC Advance Tech to tap $47 B market
LOLC Advance Technologies Private Limited (LOLC AT), a wholly owned subsidiary of LOLC Holdings PLC and HydroGraph Clean Power Incorporation, a commercial manufacturer of high-quality graphene, have recently entered into a Letter of Intent (LOI) to commercialize a jointly developed graphene blend that has shown significant improvements in battery performance.
Through a collaborative effort with the Sri Lanka Institute of Nanotechnology (SLINTEC), LOLC AT, holds a controlling stake in Ceylon Graphene Technologies (CGT), through which the group engage in graphene related research, innovations and undertakings over the years.
Under the terms of the LOI, LOLC AT and HydroGraph will work together to scale up production of the graphene blend and bring it to the market. The partnership will centre around a novel composite graphene blend that improves the charge acceptance of lead acid batteries by 47%. With such stellar game-changing results, HydroGraph and LOLC AT agreed to commercialize this product and pursue the lead acid battery market, projected to be worth more than $47 billion by 2030, driven in part by electric vehicle dependency on the product. The partnership will leverage their expertise in graphene production to accelerate commercialization and drive adoption of the technology. The blend incorporates a unique combination of graphene and other carbon-based materials, resulting in an electrode with enhanced electrical conductivity, stability and durability.
“We are excited to partner with HydroGraph to bring this game-changing technology to the market,” said Danesh Abeyrathne, Chief Executive Officer of LOLC Advanced Technologies. “This partnership demonstrates our commitment to investing in cutting-edge technologies that have the potential to transform industries and drive economic growth.
“LOLC as one of the most diversified multinational conglomerates in Sri Lanka, has been investing in advance technologies for the past many years. This partnership with HydroGrpaph represents a significant milestone in the development of graphene-based materials for commerAcial applications in endorsing our potentiality across the international arena. I believe our combined expertise and resources will now enable us to scale up production and bring this technology to the market, unlocking its capability to revolutionize the battery industry.”
For more than six months, HydroGraph and CGT have collaborated on exploring the potential applications of combining their materials. As a result, the combined graphene products now possess enhanced and distinctive properties. Moving forward, HydroGraph and CGT aim to further advance the development of other applications for this composite graphene blend across various markets. This LOI is a significant step in HydroGraph achieving its ambitious commercialization goals for 2023, driven by a meticulous business development strategy that prioritizes the development of applications and establishing customer trust in the highest quality graphene available in the market.
Mr. Manju Gunewardene, Chief Executive Officer, CGT stated, “When we were first introduced to HydroGraph’s graphene, we immediately recognized that combining it with CGT Reduced Graphene Oxide (RGO) would result in a unique and enhanced graphene product. Our belief was validated through extensive R&D and application work conducted at CGT’s advanced laboratories, CGT is thrilled to be at the forefront of this groundbreaking partnership, and the company is confident that the joint venture will result in a game-changing product that will transform the graphene market.”
Commenting on the partnership, Mr. Stuart Jara, Director/ Chief Executive Officer of HydroGraph stated, “The work HydroGraph and CGT have done together and the LOI show the power of our strategy, and the importance of leveraging different but complementary competencies that each party brings to the partnership. We will continue to leverage this association to explore other applications; this is a big step in the process of bringing the highest quality and most cost-effective graphene to the world.”
In the upcoming months, HydroGraph and LOLC AT will work on finalizing the complete partnership framework. Meanwhile, CGT will conduct all necessary tests and analysis on the product, including the development and testing of lead acid batteries using the composite graphene blend of HydroGraph’s fractal graphene and CGT’s reduced graphene oxide. HydroGraph will take charge of leading and organizing the sales and marketing of the combined graphene product in the global lead acid battery market and other potential commercial applications.
Business
Microsoft hosts ‘Scaling AI at Work’ to drive AI-first innovation for Sri Lankan businesses
Microsoft ignited the ‘Scaling AI at Work’ event in Sri Lanka on 26 November 2024, providing a dynamic platform for key customers and partners to delve into the transformative potential of AI. The event showed how Microsoft AI is sparking success among its customers, effectively enriching employee experience and driving business processes with the use of an AI platform that is secure, safe, and private.
Dr. Rohini Srivathsa, Chief Technology Officer for Microsoft India and South Asia, led a power track on ‘The Art of Possible with AI for Productivity’. In her session, Dr. Srivathsa discussed the extensive suite of AI models accessible through the Microsoft platform, emphasizing that unlocking its true potential hinges not only on the prompts customers use, but also the context of one’s work. She elaborated on how AI is reshaping business transformation and the critical importance of responsible AI practices, reaffirming Microsoft’s stance on protecting customer data.
Speaking on the efficacy of AI in driving value, Dr. Srivathsa said, “Microsoft runs on trust. We aim to empower our customers to bend the curve on innovation with AI Copilots, driving efficiency through comprehensive cutting-edge systems. We’re changing the way innovation is done, effectively helping our customers accelerate their transformation in the age of AI with a platform that is secure by design to reshape collaborative businesses, processes and decision making.”
A key highlight was how Microsoft 365 Copilot enhances productivity by saving time, automating routine work, thereby freeing workforces to pursue higher priority goals with the potential of creating significant impact.
The event explored how Copilot is actively helping organizations create new business opportunities, optimize capital management, and improve profitability while reducing operational costs by eliminating the need for external support and third-party AI tools. Copilot users reported saving 30 minutes a day, equating to 10 hours per month, highlighting the value of AI in everyday business operations.
Trust and security were central themes throughout the event. Speakers underscored the importance of implementing robust security measures alongside AI adoption. In line with this, a panel discussion titled ‘Creating Customer Delight by Optimizing Processes with Utmost Security’, moderated by Harsha Randeny, Country Manager for Microsoft Sri Lanka and Maldives, explored real-world success stories of businesses achieving operational efficiency through AI-powered solutions.
Business
The George Keyt Foundation unveils a distinguished line-up of Sri Lankan artists for upcoming auction conducted by Sotheby’s
Sotheby’s conducts its first ever Auction celebrating contemporary and modern Sri Lankan artists
The eagerly anticipated first-ever art auction conducted by Sotheby’s in Sri Lanka, presented by the George Keyt Foundation, continues to generate excitement with the unveiling of the distinguished line-up of artists.
The landmark event aims to bring together an extraordinary constellation of Sri Lanka’s most celebrated contemporary and modern artists whose works will be showcased and sold in an unprecedented charity auction.
The artworks will be available for viewing at Cinnamon Life on December 8th from 10.00 a.m. to 6.00 p.m and on December 9th from 10.00 a.m to 5.00 p.m. On December 8th, Ishrat Kanga – Director, Specialist, and Co-Worldwide Head of Modern and Contemporary South Asian Art at Sotheby’s will lead a panel discussion titled ‘Indian Ocean Affiliations in the Making of Modern and Contemporary Sri Lankan Art’. The Panel will be moderated by Mariah Lookman and will include Professor Jagath Weerasinghe and Anoma Wijewardene. This is a free event and registration is available on Eventbrite on the following link: https://www.eventbrite.com/e/indian-ocean-affiliations-in-the-making-of-modern-contemporary-sri-lanka-tickets-1094936778379
The Charity Auction,conducted by Ishrat Kanga of Sotheby’s, featuring 46 Lots by 35 leading Sri Lankan artists will take place on December 9th 2024 at 6.30 p.m. at The Forum, Cinnamon Life. Pre-registration to participate in the Auction is required. For more information, please visit www.georgekeytfoundation.com/auction
The prestigious exhibition receives support from generous sponsors including Cinnamon Life as the Principal Sponsor and Nations Trust Bank serving as Co-Sponsor. Other Official Partners include Lynear Wealth for Wealth Management, Wine World for Beverages, MA Lanka for Logistics, Colombo Jewelers for Gem & Jewellery, Calcey for Technology, Printcare for Print Services, and Chatham Luxury as Watch Partner.
The exhibition provides a valuable opportunity for art enthusiasts, collectors, patrons and the public to immerse themselves in contemporary creative expressions, celebrating Sri Lanka’s artistic legacy. For more information visit our website www.georgekeytfoundation.com/auction and pre-registration details, contact: info@georgekeytfoundation.com
Business
NDB Kotahena branch sets a new benchmark with record-breaking CEO’s Club achievement
NDB Bank proudly celebrates the exceptional performance of its Kotahena Branch, which has achieved a monumental milestone in the bank’s history. The branch has become the first in NDB’s history to produce an unprecedented all 12 branch staff members qualify for the elite CEO’s Club members in a single year 2024 with a remarkable YTD achievement of Rs.37 million, cementing its position as the highest performer across the entire network.
This historic achievement is a testament to the Kotahena Branch team’s relentless dedication, exceptional teamwork, and commitment to delivering customer-centric solutions. By placing the needs of customers at the forefront, the team has demonstrated the true spirit of excellence that NDB strives for.
NDB Bank’s CEO’s Club, a hallmark of bancassurance excellence, has grown exponentially since the partnership with AIA Insurance began in 2006. As a pioneer in integrating banking and insurance services, NDB has consistently enhanced its suite of bancassurance solutions to provide comprehensive financial security for its customers. In 2023, the bank recorded a landmark achievement with 210 CEO’s Club members, showcasing the growing importance of bancassurance in NDB’s customer-focused offerings.
The 12 exemplary staff members who contributed to this outstanding achievement were Balasubramaniam Aingaran – Branch Manager, Shivanthan Jayaranjit – Privilege Relationship Manager, Jeyasekaram Kuganthan – Assistant Manager, Gagan Hiniduma – Credit officer, Navodya Nagodavithana – Credit Associate, Chamara Udayanga – Pawning officer, Sharmin James – Cash Officer. Amirthalingam Kirushikan – Previous cash officer, Mohammed Nafeel – Junior Executive, Nishan Madushanka Leonard – Senior Business Development Associate, Nidhursha Yogaraj – Banking Assistant and Sesadi Jeyasekara – Banking Assistant.
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