Significant 10 billion dollar venture to revolutionize the sphere of eco-friendly energy production
DeepGreenX Group and Veea have joined forces for a groundbreaking global initiative aimed at accelerating the transition to sustainable energy. This partnership will see the roll-out of a platform designed to transform various renewable energy sources, such as hydro, wind, geothermal, Small Modular Reactors (SMRs), and alternative fuels like hydrogen, ammonia, and LNG, among others.
The platform will be equipped with battery storage and a virtual grid, enabling innovative applications such as peer-to-peer energy trading in decentralized energy grids, enhancing inventory tracking, demand forecasting for supply chain management, utilising sensory data for predictive maintenance, and time-of-day pricing for EV charging stations or appliance usage.
Veea's full-stack middleware offers a decentralized and distributed operating system for Web 3.0 platforms, supporting federated learning for Contextual AI models at the edge. This system will facilitate carbon credits trading, with credits originating from nature-based assets like land, forests, and marine carbon capture, as well as commercial and industrial sources, being traded on ECEx, DeepGreenX's global exchange.
The carbon credits trading will be facilitated through Veea's decentralised and distributed computing platform, offering highly flexible and cost-effective IoT capabilities. The platform will convert Real-World Assets (RWA) into actionable insights and liquid financial instruments that can be traded and monetised on DeepGreenX's global ECEx exchange.
The partnership project for developing an AI-driven operating system for energy markets involves key players such as Shell, Microsoft, and Hewlett Packard Enterprise. DeepGreenX has invested $10 million in 2021 and $25 million in 2025 for leasing financing of the Veea Edge Platform, with plans to deploy it with up to US$2.8 billion of lease financing in 2025 as part of a US$10 billion investment in edge infrastructure.
Allen Salmasi, the co-founder and CEO of Veea, expressed his excitement about leading the implementation of an AI-driven hyperconverged platform globally for a leading-edge and innovative usage-based business model for datafication-to-monetisation of energy-based RWA and big data. Barclay Knapp, the chief executive officer of DeepGreenX, stated that the platform will address some of the world's most pressing energy challenges.
The platform will be a Web 3.0 platform-as-a-service (PaaS) with a Decentralized Physical Infrastructure Network (DePIN) and a virtualised software development environment. Veea's Edge AI OS uses cutting-edge technologies and partnerships with companies like Sway.ai, Builder.ai, New Native, SUI Foundation, Nvidia, Qualcomm Inc., Honeywell Tridium, Viasat, Starlink, and various 5G network operators.
This initiative is set to revolutionise the energy sector and beyond, offering versatility and adaptability for AI-driven innovations in various industries. The Edge AI OS architecture is designed to facilitate AI-driven innovations for the energy industry and a diverse set of industries with various business use cases.
