December 31, 2021 – TORONTO – Plato Data Intelligence – DIGIMAX GLOBAL INC. (the “Company” or “DigiMax”) (CSE:DIGI) is excited to announce it is launching an ESG Solutions Division within the Company. This Division will concentrate on using Artificial Intelligence and Predictive Analytics to close multiple gaps in the ESG (Environmental, Social and Governance) investment space that will help investors make better investment decisions and also help developers lower their cost of capital.
DigiMax has identified opportunities to immediately provide these solutions to:
1) Green energy development and operations;
2) Tracking and predicting carbon credit arbitrage and trading opportunities around the globe; and
3) Monitoring and evaluating ESG opportunities and trends on behalf of large investors to analyze appropriate investment opportunities.
As a first step in launching this new Division, DigiMax is investing US $250,000 into MADA Analytics (“MADA”) by way of an unsecured, convertible note (the “Note”). The Note provides for interest on the principal amount at the rate of 5% per annum and is convertible into common shares of MADA at a price per share equal to US$5 million divided by the total number of outstanding common shares immediately prior to maturity.
DigiMax is also acquiring the right for up to one year, pursuant to an option agreement with MADA and its shareholders (the “Option Agreement”), to acquire 100% ownership of the outstanding shares of MADA. The Option Agreement specifies certain operational milestones to be achieved by MADA prior to the exercise of the purchase option (the “Milestones”). The Milestones are: i) MADA raising a minimum of US$750,000 pursuant to one or more financings (not including the current DigiMax investment); and ii) MADA entering into customer contracts to generate minimum revenues of €1 million during the 2-year term of the contracts, both of which must occur within six (6) months of the Digimax investment.
The purchase price (the “Purchase Price”) under the Option Agreement shall be either: i) an enterprise value of $5 million once the Milestones are achieved; or ii) otherwise, not less than 80% of the valuation reached by an independent valuator or valuators selected by MADA and the Company. It is anticipated that consideration for the purchase will be comprised of approximately 25% cash and the balance in common shares issued by the company priced at the time the purchase is to be completed.
A Share Purchase Agreement is intended to be completed and attached to the Option Agreement within 45 days and shall contain customary terms and provisions, including, completion of due diligence and the receipt of all necessary third party and Exchange approvals. While the parties are equally motivated to see the Option Agreement exercised as quickly as possible, there can be no absolute assurance that the MADA acquisition will be completed exactly as described, or at all.
MADA was created in 2018 in order to provide a smoother way for renewable energy projects to get funded faster and at a lower cost of capital than ever before available. MADA accomplishes this through its MADA Energy Processing Solution or “MEPS.”
MEPS is a unique AI engine (integrated via API) enabling existing and proposed renewable energy products to predict and prove:
- stable and predictable cash flows
- data-driven performance insurance for project finance
- identifying the most cost-effective financing solutions
- optimization of storage systems, financial models, and enhanced project finance returns for investors
MEPS can be licensed for use by project developers, project finance insurance companies, and engineering companies to assess existing and proposed projects and to determine optimal targeting of multiples of project variables.
MEPS has already formed partnership alliances with several leading global industry participants, including:
- RINA Engineering
- Schneider Electric
- Barclays Bank
- Milliman, global insurance advisors
- Morgan Stanley Impact Fund
- Artesian Venture Partners
- BRINC Investments
The first MADA product offering is MARICube which MADA and RINA have jointly developed. MARICube is a comprehensive, AI-driven project analysis solution that combines weather, geographical, political, and financial variables to improve projects. New renewable energy projects are expensive to finance due to the high level of uncertainty of final output. MARICube drastically lowers the level of uncertainty, making projects less expensive to finance, and therefore providing higher returns to investors and the local communities served by these projects. MARICube also helps existing projects optimize dozens of operating variables to substantially lower operating costs and maximize output.
MADA has generated hundreds of thousands of dollars in initial revenue from its software product solution and services to date. This number is poised to grow significantly as enhanced AI is added to MEPS. DigiMax, with its existing AI engine with team and infrastructure to support it, provides a perfect complement to MADA. Together, the two companies will substantially accelerate the MADA product offering.
“We believe that MADA is a perfect partner for DigiMax as we can provide the AI expertise that they require to take their already amazing product offering to the next level,” says DigiMax CEO Chris Carl. “DigiMax sees this as a substantial recurring revenue business that provides optimization and cost-saving solution to EVERY renewable energy project on the planet in an industry that consists of several $trillion of installed projects globally and $300-500 billion of new projects being funded annually. If MARICube can provide even a 5% funding cost reduction or a 2% operating cost reduction to these projects, the value delivered to industry participants is enormous.”
“We are excited to partner with DigiMax to help the MADA product solution become a leading optimization tool in the industry, focused on maximizing profits for renewable energy by de-risking projects with performance insurance, optimizing energy management, and quantifying CO2 reduction from renewable energy supplied,” says MADA CEO Daniel Gimpel. “The engineering and project finance skillsets inside of DigiMax can help both our companies become a leading global brand name for both developers and investors to assist in making their renewable energy projects the best that they can be. Together with our other global partners, MADA Analytics can bring its solutions to every continent on the globe”
DigiMax is an Artificial Intelligence technology Company committed to unlocking the potential of disruptive technologies by providing advanced financial, predictive, and cryptocurrency solutions across various verticals. DigiMax is an official IBM partner, and the Company’s engineering team has extensive experience in Machine Learning, Neural Language Processing, AI, Big Data and Cryptocurrency technology.
To learn more, visit our website: https://digimaxglobal.com/
Cautionary Note Regarding Forward-looking Statements
NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
This press release contains “forward-looking statements.” Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Examples of forward-looking statements in this press release include, among others, statements we make regarding the Company’s future plans, expectations and objectives.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the adequacy of our cash flow and earnings, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the platforms and software described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. There is no assurance that the purchase of MADA will be completed upon the terms stated above or at all or that the Company will be able to successfully enforce payment of amounts advanced by it under the Note in the event of a default thereunder.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Company Name: Plato Technologies Inc.
Contact Person: Bryan Feinber
Email: Send Email
Phone: +1551 574-2169
Address:144 E 44th Street
City: New York
State: New York
Country: United States