Strategic investment and engagement to secure path to growth
SAN FRANCISCO--(BUSINESS WIRE)--Solar X Works, LLC today announced that GW Global Partners has taken a strategic equity position in the Company.
Solar X Works, LLC
The company is a US-based renew-tech startup, the recipient of the Impact Award from the Cascadia Cleantech Alliance, and a provider of applied renewable energy solutions specializing in innovative systems focused on solving significant global problems. Current pilot projects include the review of Solar X Works’ energy management system (called xOS) for power consumption reduction working with Norwegian Crystals ASA (https://crystals.no) in Norway, developing commercial opportunities to reduce post-harvest waste in the USA, Morocco, and Egypt, collaborating with the Global Cold Chain Foundation to explore cold chain solutions in the Dominican Republic, Egypt and Bangladesh, and working with Wifiskop (https://www.wifiskop.com) to support global distributed medical solutions.
Commenting on the partnership, Blake Barthelmess, CEO of Solar X Works, stated, "We are delighted to join forces with GW Global Partners. This collaboration represents a powerful synergy of knowledge, expertise, and resources including but not limited to combined reach and network ecosystems in terms of additional investment and commercialization. Together, with GW Global Partners, Solar X Works remains dedicated to driving renewable-sector innovation, addressing societal challenges, and empowering a sustainable future in the MENASA region and beyond. Also exciting to us and our company are our blockchain solutions for data storage & tracking if related authorities or owners of the data permit. This allows for possible combinations with sovereign and private cloud solutions for the right and authorized/permitting entities. Tokenisation and associated capital raise solutions are also being considered, plus we know our partners mentioned have the reach to the right authenticated and licensed parties for those works globally."
The partnership between Solar X Works and GW Global Partners shall together accelerate advancements in applied renewable solutions within verticals including agriculture, food security & tech, manufacturing, and medical services.
GW Global Partners and Solar X Works were introduced as an outcome of the UAE FoodTech Challenge. Over six hundred and sixty teams from seventy-nine countries applied to the UAE FoodTech Challenge. Solar X Works was amongst the thirty shortlisted teams. One of the two GW Global Partners’ Managing Partners, Mr. Faraz Mehmood, confirmed that they were drawn to Solar X Works’ portfolio of intellectual property, vision, and market potential and later brought in the second partner.
GW Global Partners
GW Global Partners is a Duo-Private investment office, operating in and licensed out of various jurisdictions for two individuals.
Investment activities: Traditional & Digital Finance, Healthcare, and Digital Infrastructure. This is not to say other investment verticals are not considered. The company is essentially an industry & sector agnostic so far as they are in line with its beliefs, values, and directions of various sovereigns they operate in and are at writing expanding to.
Group Verticals: Operating Companies, Ventures, and Strategic Alliances. The founders do occasionally engage in advisory related to particular industries given various transactions of high value that assist the world in reducing challenges to current problems being encountered, such as climate change, or certain others that bring with them monetary gains and match their ecosystems' focus.
“Agriculture is only one of the use cases of Solar X Works’ IP. There is clear potential in other sectors such as industrial manufacturing, healthcare, and EV/batteries. Solar X Works was clearly one of the most exciting startups represented in the UAE FoodTech Challenge. We are thrilled to partner with their team to craft solutions that support as a start the MENASA region but also other parts of Africa where we are trying to expand upon our knowledge & ecosystem at writing to begin. Our stake in Solar X Works aligns perfectly with our commitment to sustainable technology investments. By combining our capabilities and their technological prowess, we will endeavour to make significant strides in the renewable energy sector and assist the global transition to clean energy solutions,” Mr. Mehmood said.