Wicrypt Network, a decentralized mobile Internet sharing and monetization network, announces expanding its integration with peaq, the go-to blockchain for real-world applications. The first Wicrypt WiFi hotspots are already live on krest, peaq’s sister blockchain, outfitted with their unique peaq IDs. The new version of the Wicrypt operating system makes the devices compatible with peaq off-the-shelf, making it easier for people purchasing them to connect them with the network.
Unequal access to the internet, also known simply as the digital divide, still looms large over the world, with some 2.7 billion people — about one-third of the global population — lacking access to the World Wide Web. Asia and Africa, the world’s two most populous continents, are also the most affected, with their respective internet penetration standing at 61% and 40%. And it’s usually the most vulnerable communities, those who’d stand a lot to gain from the access to online education, earning, and banking opportunities, that end up left behind most often.
Wicrypt, an innovative startup from Nigeria, is working to make the Web more accessible globally through its decentralized physical infrastructure network (DePIN) of WiFi hotspots. The hotspots enable people and businesses to share their Web connection with others, thus solving the last-mile delivery challenge, and earn tokens based on their usage stats. Currently, Wicrypt’s DePIN counts more than 1,100 hotspots and stretches across 30+ countries, with some 45,000 accounts using more than 895TB of data.
As part of its integration with peaq, first announced back in April 2023, Wicrypt has now connected several hotspots with krest, peaq’s sister chain for testing dApps and DePINs, which went live in June. The hotspots now have their unique peaq IDs, which enable them to interact with the network, and can be found on Subscan — the blockchain explorer compatible with krest — here, here, and here. The devices are now able to register their transactions on krest, which is a crucial step for further development, and will be able to earn rewards from krest’s network fee distribution with future updates.
Furthermore, Wicrypt has released a new version of its operating system for the devices, which makes them compatible with peaq off-the-shelf. New users joining the network will have the option to purchase a device that’s been connected with krest in advance. The owners of existing devices will be able to switch to this operating system manually. In a bid to support the development on peaq, Wicrypt is open-sourcing the integration and releasing the supporting documentation and videos on linking the devices with peaq. See videos step one, two, three, and four for onboarding on the peaq network.
“We are thrilled to be moving ahead with this integration and bringing the first hotspots live on krest,” says Ugochukwu Aronu, the CEO at Wicrypt. “As a production-grade network, krest gives us a perfect testing environment for everything we build on peaq, and in the longer term, it will boost the rewards users earn on our DePIN ecosystem. It’s the perfect incentivisation mechanism to power connecting the disconnected.”
“The digital divide is the plague of today’s world,” says Till Wendler, co-founder of peaq. “It’s exciting to see krest work as a testing ground for a project working to cure it. The launch of Wicrypt hotspots on krest is just the beginning as this DePIN takes on the global crisis with top-notch Web3 tools and a desire to make the world a better place.”
peaq is the go-to blockchain for real-world applications. The peaq layer-1 blockchain enables anyone to build decentralized applications (dApps) and Decentralized Physical Infrastructure Networks (DePINs) for car-sharing, street-mapping, Web access, and more, creating real-world value as part of the Economy of Things. peaq works with industry-leading consortia such as Gaia-x moveID, a €20+ million project led by Bosch, to co-create the future of smart mobility, energy, connectivity, and other important real-world industries. By empowering everyone to own, govern, and earn from the devices and infrastructure they use, peaq is democratizing abundance in the age of AI-driven automation.
Wicrypt is a decentralized WiFi internet sharing and monetization network that allows anyone to get paid for sharing their WiFi. Wicrypt is the first African company to build a peer-to-peer infrastructure for sharing mobile internet data without need for third-party integration.
Wicrypt has an international team with experience working for some of Africa’s largest employers, including KPMG, Chevron, Accenture, Nielsen, and MTN Group, and is headquartered in Enugu, Nigeria.
Amerocap preparing substantial investments in magnesium and critical mineral development in the US and Europe
LONDON, Nov. 28, 2023 /PRNewswire/ — Amerocap, a US-UK private equity investor focused on energy and minerals globally, will ramp up its investments into critical minerals in 2024. Amerocap’s critical minerals platform is Verde Magnesium LLC which is investing across the metallic magnesium value chain: R&D, mining, processing, and metallic production. Verde Magnesium, with its world-class project team is developing a portfolio of projects in North America, Europe and Asia, with a goal of reaching FID on at least 2 fully integrated projects in the next two years. Our flagship magnesium project in Romania has an accelerated investment program for 2024-2026 and was included in the investment pipeline of EU’s European Raw Materials Alliance (ERMA). The project has commercial partnerships with global automotive and aluminum industrial groups with combined revenues of over $500 billion. Verde Magnesium is reviewing up to $3 billion of investments and up to 200 kt per year of metallic magnesium capacity globally.
Bernd Martens, Chairman of Verde Magnesium and former Board Member and Head of Procurement for Audi AG, mentions that “China is producing the vast majority of many critical minerals required for the net zero transition. Compounding this supply concentration is China’s own surge in domestic demand of such minerals, which will reduce China’s essential net exports. Only a few decades ago, Western economies were the largest producers of metals in the world; but today that capacity, know-how and political will for mining and processing is gone. Verde Magnesium is a future catalyst of an industrial redevelopment that will offer reliable and sustainable supply and technological know-how for the EU and the US”.
Amerocap is well positioned to support this development, having successfully built multiple investment platforms in energy production and infrastructure, from the UK North Sea, where over $1.5 billion in transactions were completed, to Amerocap’s latest platform in Samos Energy, which aims to deploy over $1 billion in energy investments in Asia and Africa. Samos completed its first investment in July, acquiring the floating energy infrastructure business of BlackRock and Petrofac, whose portfolio covers Vietnam, Thailand and Malaysia and is seeking further growth in infrastructure, with the highest HSE standards.
Abu Dhabi’s Rapidly Changing Investment Landscape Debated at the Second Edition of “Asset Abu Dhabi” Hosted at ADFW 2023
- Ray Dalio took the stage at Asset Abu Dhabi and praised the Falcon Economies of the GCC region as ‘Renaissance States’.
- Ahead of COP28, during the special session of ‘The rise of the falcon economy’, notable economic leaders like Dr. Nasser Saidi called for the establishment of a ‘climate bank’.
- Fadi Ghandour, Executive Chairman of Wamda Capital emphasised increasing regional capital deployment by SWFs into major infrastructure and tech projects
ABU DHABI, United Arab Emirates, Nov. 28, 2023 /PRNewswire/ — Abu Dhabi Finance Week (ADFW) presented by Abu Dhabi Global Market (ADGM) progressed into its next key conference today, conducting the 2023 edition of Asset Abu Dhabi. The event hosted a selective group of investment market leadership, who gathered at ADFW to analyse the evolving investment strategies of hedge funds, private equity houses, venture capital giants and family offices across the global markets, explore returns from evolving asset classes and investment frontiers, responses to inflationary pressures, and observe on the future and prospects of regional and global economies amid the current transition era.
Asset Abu Dhabi 2023 organised with theme partners, Mubadala and BTG Pactual, showcased a line-up of some of the strongest global private market leaders, hosting thousands of senior investors from 100+ countries, from the investment and financial industry who collectively manage more than USD 30 trillion of assets. The list of top financial investment institutions that attended the conference included top names such as Morgan Stanley, BNY Mellon, Goldman Sachs, Brevan Howard and Franklin Templeton amongst others.
Asset Abu Dhabi started with a special opening session led by Ruchir Sharma, the Chairman of Rockefeller International, who presented his analysis of key political, economic, technological and social signals that shape a nation’s future. Diving into the principle of wealth management, Jenny Johnson the President and CEO of Franklin Templeton spoke insightfully on the utility of technology to rising asset classes, sustainable investing, and interpreting changing global markets.
The rise of the Falcon Economy remains a major focus of Asset Abu Dhabi and ADFW to explore the drivers of the ongoing growth of the UAE and other regional economies and shed light on government plans, policies and efforts to realize long-term economic visions.
Other key sessions included a unique conversation on ‘The Keys to Managing Money & Risk’ between George Osborne the former UK Chancellor and Alan Howard the founder of Brevan Howard, and a special roundtable focused on ‘Forecast to 2030’ with the Chairman of Hong Kong Exchanges & Clearing and C-suites of Goldman Sachs, Circle and Tikehau Capital.
Salem Mohammed Al Darei, CEO of ADGM Authority said, “With ADGM as a home to a global collection of asset managers, Abu Dhabi Finance Week continues to be a pivotal platform for them through Asset Abu Dhabi to share insights and chart the course for the ever-evolving world of investment. The 2023 edition of Asset Abu Dhabi not only offers a unique opportunity to analyse the rapidly shifting investment landscape but also showcases the next era of digital assets and provides invaluable guidance on the prospects of regional and global economies within the transition era. With a stellar lineup of global private market leaders and senior investors representing a staggering USD 30 trillion in assets under management, Asset Abu Dhabi exemplifies ADGM’s commitment to fostering collaboration and innovation in the financial industry.”
Abu Dhabi has become a destination of choice for global asset and fund management entities as the numbers have been growing drastically in the past few years while ADGM is also experiencing remarkable growth in the asset management sector reflecting 52% growth in Q3, compared to the same period last year.
The conference hosted two other events. The International Family Office Congress 2023 was organised in partnership with the Abu Dhabi Chamber, Abu Dhabi IPO Fund and Emirates Family Office Association, in addition to the Turnaround, Restructuring & Insolvency (T.R.I.) Forum 2023.
Exicom, India’s EV Charger Leader, expands into the UK Market, introduces a range of EV Chargers to accelerate EV Adoption
- Exicom, with the largest market share in India and a robust presence in Southeast Asia and the Middle East, now expands into the UK market
- Introduces a range of powerful, scalable and user-friendly DC Fast Chargers at the London EV
- Introduces a compact and easy-to-use range of SPIN EV chargers for home charging application
- Having a strong foothold in India, Southeast Asia, and the Middle East with supply of thousands of charges every month
LONDON, Nov. 28, 2023 /PRNewswire/ — Exicom, India’s largest EV charger manufacturer and a trusted partner for global automobile leaders, charge point operators and other ecosystem players has announced its strategic entry into the UK and Europe market. The company plans to strengthen its distribution channel and will be providing EV chargers through direct sales channels too.
As part of its global expansion strategy, Exicom has identified Europe as a key market for its cutting-edge home charging and business solutions. Celebrating this milestone, Exicom unveiled its first-of-its-kind EV charging product, Harmony Direct DC 360 Fast Charger at the London EV Show, designed especially for the European market. It is crafted to meet the requirements of today’s EV drivers and is aimed at aiding charge point operators in the installation of fast-charging stations. Setting the benchmark with up to 360kW of power and a modular design, it promises the quickest charging experience in the market for upcoming electric vehicles. Its ergonomic cable management maintains station tidiness, while the new sleek design, easy-to-use display terminal and innovative lighting system elevate overall user experience. These DC chargers are suitable for installation at fueling stations, retail locations, highways and commercial premises to charge electric fleets.
Exicom is also thrilled to unveil its latest breakthrough – the ‘Spin Air’ EV AC Charger, marking a significant milestone in home electric vehicle charging. Spin Air seamlessly integrates state-of-the-art technology, user-friendly features, and elegant design. Beyond its visual appeal, Spin Air exemplifies intelligence in charging methodology. Solar compatibility allows users to harness renewable energy, while load balancing and power sharing ensure optimal energy distribution within the home environment. Additionally, it’s seamless integration with Exicom’s Spin Control mobile app empowers users to remotely monitor, schedule, and receive real-time updates on their charging sessions. By blending convenience with control, effortless management is now just a tap away.
Originating from India, a worldwide centre for technological excellence, Exicom has led the way in providing crucial power and EV charging solutions in over 15 countries across the globe. Exicom chargers power electric drives across the entirety of India, enduring extreme weather and electrical conditions and now have a robust presence in Malaysia, Indonesia, Singapore, and the Middle East showcasing its prowess in the EV Industry. As it enters the UK market through the London EV Show 2023, Exicom’s primary aim is to simplify EV charging, guaranteeing its reliability and future adaptability, aligning with the UK Government’s vision of achieving zero-emission vehicles by 2035. With a wealth of over two decade’s experience, Exicom has secured the trust of the world’s largest automotive firms, thanks to its dedication to cutting-edge technology, punctual deliveries, and continuous round-the-clock customer support.
“With many governments and especially UK favouring faster adoption of electric mobility, the demand for innovative home charging solutions and fast charging stations is higher than ever. We are thrilled to introduce our new range of Harmony DC chargers which fit variety of use cases and are convenient to operate. Our SPIN Home chargers are compact, connected and compliant with UK smart charging regulations. With the expansion of our operations in Europe, we hope to play a key role in enabling low carbon society in these markets – said, Anant Nahata, CEO, Exicom.
Exicom is driven by a customer-first approach, with its differentiation being products developed based on design, form factor, and unique features, relying on innovation and R&D activities. Exicom’s global operations are supported by three state-of-the-art manufacturing units and two R&D centres in India. Following this approach for the European market, Exicom seeks to build a local sales, service and application engineering team to fulfil customer demands.
To explore more on Exicom’s EV charging technology, visit – www.exicom-ps.com
Exicom entered the EV charging market in 2018 and offers full range of smart AC and DC fast charging solutions for passenger cars, and heavy-duty vehicles. It has sold more than 50K home chargers and 3000+ fast chargers in India and overseas markets.
Incorporated in 1994, Exicom is an India headquartered power management solutions provider operating under two business verticals. The first involves EV Charger solutions which offers smart charging solutions for home and businesses. The second vertical focuses on critical power solutions business, wherein the company services critical digital infrastructure by delivering overall energy management via its range of power and energy solutions.
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