Lawyers warn crowdfunding due diligence should not be limited to investors
Law firm Moore Blatch is warning that it should not just be the investors that carry out comprehensive due diligence before supporting a crowdfunding backed company. It is also advising the clients to undertake similar checks, especially where high value goods or services are involved, as Rebus clients stand to lose around £1 billion if they don’t act swiftly.
One hundred investors recently lost, in total, over £816,000, ranging between £5,000 and £135,000 each. However, Rebus’ 1,700 clients could stand to lose a total of £930 million, according to Rebus’ website.
The firm has set up a triage service for former clients of Rebus whose claims risk missing the 6 year limitation period for qualification.
Mark Osgood, Partner at Moore Blatch, said: “Crowdfunding is a great way for companies to raise money and for investors to reap the rewards of being in at the beginning. However, crowdfunding can also carry greater risk, and often that risk is not just borne by the investors. When Rebus entered administration the implications could be just as grave for its clients as typically they stand to lose, on average, £100,000 if their cases miss the six-year limitation cut off. Our advice, whether you are an investor, supplier or using the services of a crowd funding backed company, is to do your due diligence and properly assess the risks of failure.“
Hexagon Revolutionises Manufacturing Design Process
A global leader in sensor, software and autonomous solutions, Hexagon recently announced that complex CFD (computational fluid dynamics) simulations can now be completed with the help of the world’s fastest supercomputer, Fugaku. Before this breakthrough, CFD simulations were far too expensive and time-consuming to run. Now, however, engineers can use these high-detail simulations to explore new ideas, iterate their designs, and optimise next-gen aircraft and electric vehicle manufacturing.
Thanks to Hexagon, manufacturers can now analyse what they’re up against before starting their build process—with one-third the energy use of traditional simulations and a fraction of the cost. This is only the latest step in Hexagon’s mission to use design and engineering data to speed up smart manufacturing. As the company wrote: ‘The idea of putting data to work is part of Hexagon’s DNA’.
What Are CFD Simulations?
Simply put, they’re simulations so complex and powerful that engineers usually have to spend hours upon hours simplifying their designs. 90% of an engineer’s time can centre around this task—but not with Fugaku-powered simulations. Now, original designs can be fed into the simulation software, reaching a much closer approximation of reality.
With the ARM-powered Fugaku supercomputer, Hexagon’s Cradle CFD clients can now reduce simulation cost, conserve valuable energy, and integrate high-detail simulations into their daily operations. At a time when the automotive and aerospace industries are racing to bring safe and sustainable transport options to market, in fact, CFD simulations could be the key to success.
How Does CFD Change the Game?
As auto manufacturers transition to electric vehicles, they must understand how design adjustments will affect the vehicle in real-time. Instead of physically iterating their blueprints, they’d rather work it out in theory. With CFD, engineers can now pre-test critical safety, performance, and longevity features—for example, how aerodynamics will interact with energy efficiency, or how thermal management will operate under a range of parameters. Essentially, CFD simulations speed up the design process and cut down on costly mistakes.
Said Roger Assaker, President of Design & Engineering in Hexagon’s Manufacturing Intelligence division: ‘Simulation holds the key to innovations in aerospace and eMobility. Advances such as the low-power Fugaku supercomputing architecture are one of the ways we can tap into these insights without costing the Earth, and I am delighted by what our Cradle CFD team and our partners have achieved’.
How Did Testing Unfold?
- Prototyped a typical family car. This is only possible with enhanced computing power. The car model consisted of 70 million elements using 960 cores and was simulated until it reached a steady-state using the RANS equation over 1000 cycles.
- Simulated transonic compressible fluid around an aeroplane. Made up of approximately 230 million elements, the simulation used 4,000 nodes using 192,000 computing cores and relied on 48,000 processes via Message Passing Interface (MPI).
Tomohiro Irie, Hexagon’s Director of R&D for Cradle CFD, commented on the recent progress: ‘I expect that these technical developments will contribute to making the power of Fugaku more accessible for general use, bringing huge freedom and improved insights to engineering teams solving tomorrow’s problems today’.
Overall, Hexagon intends to continue driving product innovation forward, with smart manufacturing that adapts to conditions in real-time, pursues perfect quality, and optimises designs for zero waste. And there’s little doubt about it. With 20,000 employees in 50 countries, coupled with Fugaku’s supercomputing capabilities, Hexagon is uniquely poised to succeed.