Prime Focus arm DNEG wins Academy Award for Best Visual Effects on ‘Dune'; Stock soars ~3.5%

29 Mar 2022 , 09:59 AM

Prime Focus Limited informed the exchanges that its arm DNEG, a leading technology-enabled visual effects (VFX) and animation studio for the creation of feature film, television and multiplatform content, has won its seventh Academy Award for Best Visual Effects – and its sixth in the past eight years – for its ground breaking VFX work on Dune.

Hosted on March 27, 2022, the 94th Academy of Motion Picture Arts and Sciences Awards awarded Best Visual Effects to Dune. The Oscar® was received by production VFX supervisor Paul Lambert, DNEG VFX supervisors Tristan Myles and Brian Connor, and SFX supervisor Gerd Nefzer. DNEG served as lead VFX partner on Dune, and on No Time To Die, which also received a nomination, as determined by the Visual Effects Branch Executive Committee.

At around 10.02 am, Prime Focus Ltd was trading at Rs89.90 per share up by Rs2.95 or 3.39% from its previous closing of Rs86.95 per share on the BSE.

DNEG Chairman and CEO Namit Malhotra said: “For our teams to be recognized with the Oscar for ‘Best Visual Effects’ for their work on Dune is incredibly gratifying. As a life-long fan of cinema, I believe that the work of all the departments on this movie, from visual effects, to cinematography, editing, score, production design, costumes and all the other crafts, under the expert direction of Denis Villeneuve, delivers a wholly immersive experience that draws you into this incredible world and never, for one second, takes you out of it.

We tend to think of VFX delivering ‘wow’ moments – for me, the whole world of Dune is one seamless ‘wow’ moment, and every time re-watch the film, I find myself transported back to the very real and believable world of Arrakis, totally immersed in Denis’ vision and fully focused on the characters and the story that is playing out in this incredibly-realized environment. I believe that Dune sets a new standard for the use of visual effects to support visionary storytelling, and a new benchmark against which other films will be measured in the future.”

Malhotra continued, “This latest award marks our second Oscar for Best Visual Effects for one of Denis’ films, and our sixth Oscar win in the last eight years, which is a terrific validation of the creative and technical leadership of our teams here at DNEG. Of course, our contribution would not have been possible without the vision and leadership of Denis and the talents of Paul Lambert, Greig Fraser and other key members of the filmmaking team.”

Past films featuring DNEG-led VFX work that has won the Academy Award for Best Visual Effects include Tenet (2021), First Man (2019), Blade Runner 2049 (2018), Ex Machina (2016), Interstellar (2015) and Inception (2011).

DNEG’s Academy Award for its VFX work on Dune serves as a crowning achievement on a record-breaking awards season for the company. The VFX and animation powerhouse also earned a British Academy of Film and Television Arts (BAFTA) award for Special Visual Effects for its VFX work on Dune as well as seven Visual Effects Society (VES) awards for its VFX work on Dune, Last Night in Soho and “Foundation.”

On January 25, 2022, DNEG announced its entry into a definitive business combination agreement with Sports Ventures Acquisition Corp. (Nasdaq: AKIC). Upon the closing of the business combination, which is expected in the first half of 2022, the combined public company will be named DNEG.