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AP News Summary at 3:17 p.m. EST

The Darnold-Jefferson connection is thriving for the surging Vikings

SUNNYVALE, CA / ACCESSWIRE / December 23, 2024 / TechStar Acquisition Corporation, a special purpose acquisition company listed in Hong Kong, announced that it entered a Business Combination Agreement with Seyond, a solution provider of high fidelity, high-performance LiDAR and intelligent sensing systems. Upon completion of the merger, Seyond is expected to be successfully listed on the Hong Kong Stock Exchange. The agreed valuation for this De-SPAC transaction is 11.7 billion Hong Kong dollars. Additionally, Seyond has introduced three PIPE investors with a cumulative investment of approximately 553.1 million Hong Kong dollars. Previously, Seyond has garnered investments from a host of prestigious institutions, including NIO Capital, Temasek, ERVC, Gaorong Ventures, Joy Capital, BAI Capital, Shunwei Capital, and Guotai Junan Venture Capital, among others. Established in 2016, Seyond specializes in providing automotive-grade LiDAR solutions for autonomous driving and a variety of automotive and non-automotive applications. As the first company to achieve mass production of automotive-grade high-performance LiDAR, Seyond ranked first globally in sales revenue of passenger car LiDAR solutions in 2022 and 2023. Rigorously tested with proven automotive-grade reliability and lifetime, Falcon, the flagship 1550nm LiDAR sensor for high-level autonomous driving, is mass-produced, with over 400,000 units delivered globally. Additionally, Seyond achieved a design win for its 905nm wavelength LiDAR products with a leading new energy automotive OEM, becoming the only company in the LiDAR industry with mass production experience in both 1550nm and 905nm products. In addition to the automotive market, Seyond is strategically expanding into the robotic and intelligent transportation markets with combined revenue opportunities of over USD 260 billion globally by 2031, aiming to create a more substantial revenue scale. Seyond is looking forward to embarking on this exciting new journey with its investors, partners, and customers. On January 7-10, the company will exhibit its latest technology at CES 2025 in Las Vegas, Nevada. Attendees visiting Booth #5060 will learn how Seyond's LiDAR solutions power intelligent systems worldwide. About Seyond SeyondTM is a global leader in high fidelity LiDAR solutions, powering a safer, smarter and more mobile world across the automotive, intelligent transportation, robotics and infrastructure industries. Seyond delivers a dynamic portfolio of robust, high resolution LiDAR sensors, perception software, and the Seyond ITS Management Platform (SIMPL). Founded in Silicon Valley with a global footprint, Seyond is dedicated to the highest quality engineering and manufacturing, and unwavering commitment to our customers. About TechStar TechStar is a special purpose acquisition company incorporated for the purpose of effecting a business combination with one or more businesses, with efforts concentrated on companies in new economy sectors, including but not limited to innovative technology, advanced manufacturing, healthcare, life sciences, culture and entertainment, consumer and e-commerce, green energy and climate actions industries. TechStar completed an offering comprising 100,100,000 TechStar Class A Shares at an offer price of HK$10.00 per TechStar Class A Share and 50,050,000 TechStar Listed Warrants on December 23, 2022. CONTACT: Name: Sally Frykman Email: sally.frykman@seyond.com SOURCE: Seyond View the original on accesswire.comMind the Gap: Six Tips to Assess Your Healthcare Coverage Before the New Year

El Salvador's Congress on Monday approved a bill promoted by President Nayib Bukele to roll back a ban on the mining of gold and other metals, dismaying environmentalists. The small Central American nation became the world's first country to outlaw metal mining in 2017, warning of the harmful effects of the chemicals used, like cyanide and mercury. The move by Bukele's predecessor, former left-wing rebel Salvador Sanchez Ceren, reflected a growing rejection of mining by rural communities in the region. But last month, Bukele, who is popular at home for his crackdown on street gangs, signaled that he wanted to change course. The bill to bring back metal mining was approved by 57 deputies out of a total of 60, said Ernesto Castro, head of the legislature -- which is dominated by the ruling party -- as environmental campaigners protested nearby. Critics fear that mining will pollute the Lempa River, which runs through a potential mining zone proposed by Bukele and supplies water to 70 percent of the inhabitants of the capital and surrounding areas. "This wretched mining will punish the people, it will contaminate our waters and rivers and that's an attack on life," activist Vidalina Morales told reporters. Bukele said last month that El Salvador, a country of 6.6 million people, had "potentially" the largest gold deposits per square kilometer in the world. "God placed a gigantic treasure underneath our feet," he wrote on social media, arguing that the mining ban was "absurd." "If we make responsible use of our natural resources, we can change the economy of El Salvador overnight," he said. The new law stipulates that the state will be the only entity authorized to search for, extract and process mined metals. However, the government may do so through companies in which it is a shareholder. The bill prohibits the use of mercury in mining operations, which may not be carried out in protected natural areas or places with important water sources. A survey by Central American University published on Monday revealed that 59 percent of respondents do not consider El Salvador "an appropriate country for metal mining." Since El Salvador dollarized its remittances-reliant economy in 2001, it has registered average annual growth of 2.1 percent. Twenty-seven percent of Salvadorans live in poverty, according to the United Nations Economic Commission for Latin America and the Caribbean, and 70 percent of the workforce operates in the informal sector. Elsewhere in the region, Costa Rica and Honduras have banned open-pit mining, and Panama declared a moratorium on new mining concessions last year after mass protests over plans for a huge copper mine. ob/fj/dr/jgc

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Chief 'disappointed' to see clean water used as a political 'tactic' by ConservativesHOUSTON (AP) — The Astros welcomed first baseman Christian Walker to the team Monday, in one of two moves that almost certainly marks the end of Alex Bregman’s time in Houston. Walker signed a $60 million, three-year contract that will pay him $20 million annually just more than a week after the Astros acquired infielder Isaac Paredes from Cubs in the trade that sent outfielder Kyle Tucker to Chicago . Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a week