Veea, DeepGreenX Forge US$140 Bln Deal To Revolutionise Green Energy With AI Platform

KUALA LUMPUR, Nov 21 (Bernama) -- Veea Inc, a pioneer in edge computing and artificial intelligence (AI)-driven solutions has partnered with DeepGreenX Group Inc (DeepGreenX) an AI-enabled green energy and technology company, for a visionary initiative to roll-out a transformative platform for accelerating the transition to global green energy.

In a statement, Veea said this initiative includes a US$140 billion lease financed infrastructure over the next five years, with US$2.8 billion allocated for Veea Edge Platform in 2025 as part of a US$10 billion edge infrastructure investment. (US$1=RM4.70)

“The notion of a global virtual energy grid managed through a terrestrial- and satellite-based network supported by an AI-driven platform is truly revolutionary as it ultimately can provide for a market-based production and distribution of energy with real-time matching of supply and demand in every corner of the world,” said Veea co-founder and chief executive officer (CEO), Allen Salmasi.

Meanwhile, DeepGreenX CEO Barclay Knapp said: “Real-time application of contextual AI with Veea’s groundbreaking platform to DeepGreenX’s virtual energy grid and other initiatives such as carbon credits promises to address some of the world’s most pressing energy challenges.

The partnership will transform sustainable energy sources into Real-World Assets through Veea's cybersecure edge computing platform, that can be traded and monetised.

Carbon credits established with digital Measurements, Reporting and Verification through Veea’s decentralised and distributed computing platform, offering highly flexible and cost effective Internet of Things (IoT) capabilities are easily employed for a wide range of environments.

Veea’s full-stack middleware offers a form of an operating system (OS) for a decentralised and distributed next-generation Web 3.0 platform supporting federated learning for inferencing and training of Contextual AI models at the edge.

Its Edge AI OS leverages cutting-edge technologies, network solutions and strategic partnerships with leading companies, designed to support a wide range of edge products by multiple equipment vendors, ensuring versatility and adaptability facilitating breakthrough AI-driven innovations.

-- BERNAMA