Venture Capital Fund to Start by Year End

first_imgState Minister for Science, Technology, Energy and Mining, Hon. Julian Robinson, is confident that the proposed Venture Capital Development Fund, which will target financing for newly established businesses, will be in place by year end.Speaking at the opening session of the University of Technology’s 18th annual students’ conference at the Jamaica Conference Centre, downtown Kingston on Wednesday, March 20, Mr. Robinson assured that the initiative will facilitate access to private equity financing by fledging entrepreneurs encountering challenges accessing funds through traditional sources, such as commercial banks.“We are acutely aware that some of you may not be able to go to a bank and borrow money and that is a huge hindrance in allowing you to build and develop those ideas. I am very confident that before the end of the year we will be in a position to announce the start of the new venture capital fund facility,” he said.Mr. Robinson also reiterated the government’s commitment in facilitating information and communication technology access to as many persons as possible, noting that this is imperative in an era of “rapidly changing technological advances”, globally.The State Minister said this commitment will be fulfilled through the Universal Service Fund (USF), which has already established over 100 Community Access Points (CAPs) in schools, post offices, churches, and community centres islandwide, equipped with computers and internet connectivity.By O. Rodger Hutchinson, JIS Reporterlast_img read more

3D Printed Ships Propeller Moves Forward to Completion

first_imgzoom A prototype of the world’s first class approved ship’s propeller has been produced by using 3D printing techniques, Damen informed. The 1,350mm diameter propeller – named WAAMpeller – is the result of a cooperation between Damen Shipyards Group, Rotterdam Additive Manufacturing LAB (RAMLAB), Promarin, Autodesk and Bureau Veritas.Fabricated from a Nickel Aluminium Bronze (NAB) alloy at RAMLAB in the Port of Rotterdam, the propeller was produced with the Wire Arc Additive Manufacturing (WAAM) method using a Valk welding system and Autodesk software. The triple-blade structure uses a Promarin design that is used on Damen’s Stan Tug 1606. With production complete, the WAAMpeller will be CNC milled at Autodesk’s Advanced Manufacturing Facility (AMF) in Birmingham, UK.According to Damen, the prototype 3D printed propeller represents a steep learning curve of the understanding of material properties.“This is because 3D printed materials are built up layer by layer. As a consequence, they display different physical properties in different directions – a characteristic known as anisotropy. Steel or casted materials, on the other hand, are isotropic – they have the same properties in all directions,” Kees Custers, Project Engineer in Damen’s R&D department, explained.Because of this critical difference, one of the first steps was to carry out extensive testing of the material properties of the printed material to ensure compliance with Bureau Veritas standards.“This involved printing two straightforward walls of material – then using a milling machine to produce samples for lab testing of tensile and static strengths,” Custers added.It can also be said that the 400kg WAAMpeller sets a milestone in terms of 3D printing production techniques.“The challenge has been to translate a 3D CAD file on a computer into a physical product. This is made more complex because this propeller is a double-curved, geometric shape with some tricky overhanging sections,” Custers further said.Yannick Eberhard from Promarin’s R&D department added that “the transformation from a semi-automatic to robotic processing is the solid foundation for even more complex and reliable future propeller designs.““Material characterization and mechanical testing have been an important part of this project. We have to make sure that the material properties meet the needs of the application. Material toughness, for example – ensuring that the propeller is able to absorb significant impact without damage,” Wei Ya, Postdoctoral Researcher from the University of Twente at RAMLAB, said.“But we have also been working towards optimising the production strategy for 3D metal deposition. This includes bead shape and width, as well as how fast we can deposit the printed material,” Ya further said.“For large scale 3D metal deposition, the WAAMpeller is really groundbreaking for the maritime industry. This technology is a fundamental change in the concept of how we make things. With additive manufacturing, you can print most metallic components that are needed in principle. There is so much potential for the future – these techniques will have a big impact on the supply chain,” Ya continued.This first prototype WAAMpeller will be used for display purposes, and planning for a second example is already underway.“We start production of a second propeller with class approval later next month – using all the lessons we have learned over the past few months. We are aiming to install this second one onto one of our tugs later this year,” Custers noted.last_img read more