Daily Business Report: December 18, 2024
Taking flight: shaping the future of atmospheric river forecasting
The Atmospheric River Reconnaissance program flies into storms to improve forecasts with the help of AI
By Alex Fox | UC San Diego
This year’s rainy season is underway, which means atmospheric rivers are set to dump rain and snow across California and the Pacific Northwest. It also means that specially outfitted aircraft are standing by to fly out to sea into the heart of those brewing storms to improve forecasts as part of the Atmospheric River Reconnaissance program (AR Recon), led by the Center for Western Weather and Water Extremes (CW3E) at UC San Diego’s Scripps Institution of Oceanography and the National Oceanic and Atmospheric Administration (NOAA).
Atmospheric rivers are ribbons of water vapor in the sky that can deliver huge amounts of precipitation. They are simultaneously vital sources of freshwater and the cause of dangerous flooding, making accurate forecasting critically important. Climate change is projected to make these precipitation events more intense and destructive by warming the air, which increases the amount of moisture these storms can carry.
More accurate forecasts and more advanced warnings enhance public safety when flooding is predicted and can support water managers making complex choices ahead of a downpour.
To this end, CW3E works closely with the multi-agency program Forecast Informed Reservoir Operations (FIRO) to provide the latest and best forecasts to help manage water levels in California reservoirs. Accurate forecasts can allow reservoir operators to retain more water, which boosts water availability, or know that it’s time to release water to guard against flooding.
“Climate change is altering the timing, pace and scale of storms,” said Michael Anderson, state climatologist with the California Department of Water Resources. “AR Recon helps us understand the structure of the storms better to improve the precipitation and runoff forecasts enabling water managers to maximize the benefits while minimizing the hazards.”
This year’s campaign continues last season’s expansion of flights farther west across the Pacific, this time in Japan instead of Guam, enabling earlier tracking of atmospheric rivers and the potential for greater lead time in forecasts.
This is also the first season in which the CW3E team using AR Recon flight data to create forecasts will have the use of a new supercomputer operated by the San Diego Supercomputer Center at UC San Diego’s new School of Computing, Information and Data Sciences. CW3E’s forecasts are also expanding their use of artificial intelligence (AI), which now includes data-driven models and deep learning algorithms.
Since 2016, the AR Recon program has used “Hurricane Hunter” aircraft from the U.S. Air Force Reserve 53rd Weather Reconnaissance Squadron and the NOAA Gulfstream IV (G-IV) jet to venture into and above intense weather to collect troves of data. Those data are nearly impossible to get through satellites, whose view is often blocked by clouds, or via traditional weather instruments which are sparse in the middle of the ocean where atmospheric rivers typically form.
California to spend $1.4 billion to build 17,000 new EV chargers
The California Energy Commission approved a $1.4 billion investment plan that accelerates progress on the state’s EV charging and hydrogen refueling goals. These investments will help deploy infrastructure for light, medium, and heavy-duty zero-emission vehicles (ZEV) across California, expanding the most extensive charging and hydrogen refueling network in the country. The funds will result in nearly 17,000 new chargers for passenger vehicles statewide. Over 152,000 public and shared private charters are currently installed.
MoneyThumb achieves record growth
Encinitas-based MoneyThumb, a leader in automated document evaluation and fraud detection solutions, announced that the company is exiting 2024 with record annual growth. MoneyThumb processed over $2 billion transactions, more than doubled its workforce, and achieved 60 percent year-over-year in conversions per day. The company’s strong performance reflects its laser focus on streamlining workflows for financial professionals. Lenders rely on MoneyThumb’s software to manage risk while delivering more capital, faster, to small businesses nationwide.
WD-40 names Eric P. Etchart as non-executive chairman of board of directors
WD-40 Company announce the appointment of Eric P. Etchart as non-executive chairman of the board of directors. Etchart succeeds Gregory A. Sandfort as chairman, who retired from the board following the 2024 Annual Meeting of Stockholders. Etchart will continue to serve on the Corporate Governance Committee and Finance Committee. Etchart joined the board of directors in 2016, bringing extensive experience in international finance, marketing, and management. He previously served as senior vice president at The Manitowoc Company Inc. from 2007 until his retirement in January 2016. He is a French national and has held management positions in China, Singapore, Italy, France and the United States.
Taoglas wins prestigious Elektra Award for excellence in product design
San Diego-based Taoglas, a provider of antennas and IoT components, announced that the company’s Inception HP5354. antenna was named a 2024 Elektra Awards winner in the “Excellence in Product Design (High-Reliability Systems)” category. The annual Elektra Awards, presented by Electronics Weekly, recognize the most outstanding achievements in the global electronics industry. Since its foundation in 2004, Taoglas has grown from its heritage in antennas to having engineering resources, state-of-the-art test chambers, and pre-certification centers around the world.
Dr. Baaziz Achour appointed chief technology officer at Qualcomm Technologies
Qualcomm Incorporated announced the appointment of Dr. Baaziz Achour to the role of chief technology officer, Qualcomm Technologies, Inc., and the retirement of Dr. James Thompson, each effective Feb.3, 2025. Achour currently serves as deputy chief technology officer. Achour has served as deputy chief technology officer since 2023. He first joined Qualcomm as a systems engineer in 1993. Over the course of his tenure with Qualcomm, Achour has held several leadership roles within the engineering organization and has been essential in contributing to nearly every generation of wireless technology. He was a key part of the leadership team that enabled the accelerated launch of 5G and will lead the evolution of cellular to 6G.
Pleno appoints Dr. Vik Vaz, M.D., as CEO and president
Pleno, a clinical and multi-omics diagnostics company that is revolutionizing biological target detection, announced the appointment of Dr. Vik Vaz M.D. as its new chief executive officer and to serve on its board of directors, effective immediately. Vaz is a dynamic global leader with a combination of clinical expertise, strategic insight, and commercial experience in the life sciences and medical technology sectors. He will lead Pleno’s next phase of growth as the company prepares to scale its commercial operations with the help of its new $25 million Series B funding. Key investors Deerfield Management, Foresite Capital and Medical Excellence Capital remain committed to supporting the next phase of the company’s growth strategy.
Acadia Pharmaceuticals sellsRare Pediatric
Disease Priority Review Voucher for $150 million
Acadia Pharmaceuticals Inc. announced the closing of the sale of its Rare Pediatric Disease Priority Review Voucher (PRV) for $150 million before fees and expenses. As described at the time the agreement to sell was announced on Nov. 5, 2024, Acadia is required to pay Neuren Pharmaceuticals Limited one-third of the net proceeds, pursuant to a license agreement between the companies. Acadia plans to invest proceeds from the sale of the PRV to support its commercial operations, R&D programs in central nervous system and rare disease, and future business development.
Western Window Systems unveils new design studio in San Diego
Western Window Systems, part of the MITER Brands portfolio and a leader in designing modern windows and doors that blur the boundaries between indoor and outdoor spaces, recently unveiled its new design studio in San Diego with a ribbon-cutting ceremony.Located at 8990 Miramar Road, Suite 270, the new design studio will serve as a collaborative hub for architects at any stage of their projects. With access to the latest tools, product samples, and knowledgeable staff, architects will have everything they need to bring a project to life, whether a high-end custom home or a multi-family project. The new space features many Western Window Systems products, including popular options such as the Classic Series 300 Minimalist Multi-Slide Door, Classic Series 600 Multi-Slide Pocket Door, Classic Series 9550 Bi-Fold Door, and Performance Series 7980 Pivot Doo
Crown Bioscience wins 2024 Fierce CRO Award
San Diego-basedCrown Bioscience, a global contract research organization (CRO), a part of JSR Life Sciences and Japan-based JSR Corporation, has been honored with the 2024 Fierce CRO Award for Excellence in Client Service and Partnership. This prestigious award recognizes Crown Bioscience’s outstanding collaboration, communication, and commitment to delivering excellence for its life sciences clients. The Fierce CRO Awards, hosted annually by Fierce Biotech, celebrate the achievements of leading CROs that demonstrate innovation and leadership in accelerating drug development. Winners in this category are selected based on their commitment to building strong partnerships and providing an exceptional client experience.
California to spend $1.4 billion to build 17,000 new EV chargers
The California Energy Commission approved a $1.4 billion investment plan that accelerates progress on the state’s EV charging and hydrogen refueling goals. These investments will help deploy infrastructure for light, medium, and heavy-duty zero-emission vehicles (ZEV) across California, expanding the most extensive charging and hydrogen refueling network in the country. The funds will result in nearly 17,000 new chargers for passenger vehicles statewide. Over 152,000 public and shared private charters are currently installed.
MoneyThumb achieves record growth
Encinitas-based MoneyThumb, a leader in automated document evaluation and fraud detection solutions, announced that the company is exiting 2024 with record annual growth. MoneyThumb processed over $2 billion transactions, more than doubled its workforce, and achieved 60 percent year-over-year in conversions per day. The company’s strong performance reflects its laser focus on streamlining workflows for financial professionals. Lenders rely on MoneyThumb’s software to manage risk while delivering more capital, faster, to small businesses nationwide.
WD-40 names Eric P. Etchart as non-executive chairman of board of directors
WD-40 Company announce the appointment of Eric P. Etchart as non-executive chairman of the board of directors. Etchart succeeds Gregory A. Sandfort as chairman, who retired from the board following the 2024 Annual Meeting of Stockholders. Etchart will continue to serve on the Corporate Governance Committee and Finance Committee. Etchart joined the board of directors in 2016, bringing extensive experience in international finance, marketing, and management. He previously served as senior vice president at The Manitowoc Company Inc. from 2007 until his retirement in January 2016. He is a French national and has held management positions in China, Singapore, Italy, France and the United States.
Taoglas wins prestigious Elektra Award for excellence in product design
San Diego-based Taoglas, a provider of antennas and IoT components, announced that the company’s Inception HP5354. antenna was named a 2024 Elektra Awards winner in the “Excellence in Product Design (High-Reliability Systems)” category. The annual Elektra Awards, presented by Electronics Weekly, recognize the most outstanding achievements in the global electronics industry. Since its foundation in 2004, Taoglas has grown from its heritage in antennas to having engineering resources, state-of-the-art test chambers, and pre-certification centers around the world.
Pleno appoints Dr. Vik Vaz, M.D., as CEO and president
Pleno, a clinical and multi-omics diagnostics company that is revolutionizing biological target detection, announced the appointment of Dr. Vik Vaz M.D. as its new chief executive officer and to serve on its board of directors, effective immediately. Vaz is a dynamic global leader with a combination of clinical expertise, strategic insight, and commercial experience in the life sciences and medical technology sectors. He will lead Pleno’s next phase of growth as the company prepares to scale its commercial operations with the help of its new $25 million Series B funding. Key investors Deerfield Management, Foresite Capital and Medical Excellence Capital remain committed to supporting the next phase of the company’s growth strategy.
Acadia Pharmaceuticals sellsRare Pediatric
Disease Priority Review Voucher for $150 million
Acadia Pharmaceuticals Inc. announced the closing of the sale of its Rare Pediatric Disease Priority Review Voucher (PRV) for $150 million before fees and expenses. As described at the time the agreement to sell was announced on Nov. 5, 2024, Acadia is required to pay Neuren Pharmaceuticals Limited one-third of the net proceeds, pursuant to a license agreement between the companies. Acadia plans to invest proceeds from the sale of the PRV to support its commercial operations, R&D programs in central nervous system and rare disease, and future business development.
Western Window Systems unveils new design studio in San Diego
Western Window Systems, part of the MITER Brands portfolio and a leader in designing modern windows and doors that blur the boundaries between indoor and outdoor spaces, recently unveiled its new design studio in San Diego with a ribbon-cutting ceremony.Located at 8990 Miramar Road, Suite 270, the new design studio will serve as a collaborative hub for architects at any stage of their projects. With access to the latest tools, product samples, and knowledgeable staff, architects will have everything they need to bring a project to life, whether a high-end custom home or a multi-family project. The new space features many Western Window Systems products, including popular options such as the Classic Series 300 Minimalist Multi-Slide Door, Classic Series 600 Multi-Slide Pocket Door, Classic Series 9550 Bi-Fold Door, and Performance Series 7980 Pivot Doo
Crown Bioscience wins 2024 Fierce CRO Award
San Diego-basedCrown Bioscience, a global contract research organization (CRO), a part of JSR Life Sciences and Japan-based JSR Corporation, has been honored with the 2024 Fierce CRO Award for Excellence in Client Service and Partnership. This prestigious award recognizes Crown Bioscience’s outstanding collaboration, communication, and commitment to delivering excellence for its life sciences clients. The Fierce CRO Awards, hosted annually by Fierce Biotech, celebrate the achievements of leading CROs that demonstrate innovation and leadership in accelerating drug development. Winners in this category are selected based on their commitment to building strong partnerships and providing an exceptional client experience.
