Artificial intelligence-enabled green energy and technology firm DeepGreenX Group has entered into a framework agreement with Sente Ventures to initiate a $25 billion green infrastructure investment programme over the next five years. The announcement, covered by Smart Cities World, outlines the programme's ambition to bolster industries focused on clean energy generation, virtual grid technology, battery storage, microreactor power, and the necessary infrastructure for data centres.
The focus of DeepGreenX lies in the integration and monetisation of sustainable energy sources alongside computing capabilities and data management. Through this comprehensive investment programme, the two entities aim to capture the sustainability sector and harness advanced technology solutions for DeepGreenX’s AI-driven platform dedicated to financialising data.
Barclay Knapp, CEO of DeepGreenX, remarked, “Green energy companies and projects have historically been heavily dependent upon favourable subsidies and regulations, and therefore highly temporal. We expect the programme to open new pathways for green energy companies and projects, while DeepGreenX in parallel builds an international capital sourcing and data-driven platform that is designed to prevail over these legacy challenges.” Knapp further added, “Many viable green energy projects stagnate because of their reliance on unpredictable capital, preventing startups from scaling to offer innovative solutions.”
The funding mechanism for this ambitious initiative will come from DXG-Hues, a joint venture established between DeepGreenX and Hues Capital. Leading the Hues Capital side is Dr. Jim Lai, who is both CEO of Hues Capital and a director at DeepGreenX. The DXG-Hues venture will roll out two $5 billion funds specifically targeting green energy, artificial intelligence, and computational power projects in key markets including the United States, Europe, and Southeast Asia. The anticipated pipeline for investments includes companies that are part of the ecosystems of major investors such as Tencent and Softbank.
With this collaborative effort, DeepGreenX and Sente Ventures aim to address the challenges and uncertainties that have historically plagued the green energy sector, potentially paving the way for significant advancements in technology and sustainable solutions within the coming years.
Source: Noah Wire Services