Blockchain
EV Battery Tech Announces Partnership with Daymak, the #1 Distributor of Light Electric Vehicles in Canada
Extreme Vehicle Battery Technologies Corp. (“EV Battery Tech” or “the Company“) (CSE: ACDC) is pleased to announce that on February 5, 2021, the Company entered into a partnership agreement (the “Agreement“) with Daymak International Inc. (“Daymak“), Canadas #1 distributor of light electric vehicles1 (“LEVs“).
Daymak has sold over $100 million of LEVs, of which an estimated 30% of their production cost goes into the battery systems. Pursuant to the Agreement, the Company will become the exclusive provider of batteries and battery packs used in Daymak’s products.
“I love the technology”, Daymak’s CEO Aldo Baiocchi stated about EV Battery Tech’s technology. “From the Smart Wall to the specialized BMS with their battery packs, they are perfect for our current products and some of the projects we hope to announce soon.”
Daymak’s current customers include Walmart, Costco, TSC, QVC, Best Buy, Hudson’s Bay and a network of 150 dealers across Canada and the USA. Daymak also has showrooms in Los Angeles, Toronto and Rome, with more expected in the future. Daymak was the recipient of the Clean Tech North Award2, was named in Profit Magazine’s Top 100 fastest growing Canadian companies3 and was also recently named “One of Ontario’s Greenest Companies” via letter received Brad Duguid, Minister of Economic Development and Innovation.
EV Battery Tech has had a very busy start to 2021 through the announcements of the Company’s IoniX Pro Smart Wall Series and IoniX Pro TITAN Series, and most recently through the unveiling of its RV Battery Series.
“The Daymak partnership is just the beginning,” boasted EV Battery Tech CEO Bryson Goodwin. “We are very pleased with the partnership and hope it goes a long way in building our brand recognition.”
EV Battery Tech believes it has an edge over other products in its industry thanks to its AI driven battery management system (BMS) technology.
“I have spent a significant portion of my life studying battery technologies,” explained Ph.D and EV Battery Tech’s Advisory Board Member Yoga Yogendran. “I think the BMS technology that powers the IoniX products is state of the art and will bring many positive features to the industry.”
The deal goes into effect immediately and has a term of 5 years, with an automatic renewal for 1-year terms. We can expect to see EV Battery Tech’s products incorporated into Daymak’s product line sometime in late Q2 of this year. While the Agreement’s intention is for EV Battery Tech to be the exclusive provider of batteries and battery packs, Daymak has the right seek an alternative quote if Daymak and EV Battery tech cannot agree on commercial terms, however EV Battery Tech will still have the right of first refusal to match the commercial terms of any competing bid for the supply of such systems.
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1 Data from a Frost and Sullivan Analysis |
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3 https://www.canadianbusiness.com/innovation/profit-100-canadas-fastest-growing-companies-2/ |
As per the terms of the Agreement, Daymak will issue the option to purchase 360,000 common shares in the capital of Daymak to EV Battery Tech’s wholly owned subsidiary IoniX Pro Battery Technologies Corp., at an exercise price of $5.56 per share. Further to the terms of the Agreement, the Company will issue Daymak warrants to purchase 10,000,000 common shares of the Company at an exercise price of $0.20 per share, subject to a vesting schedule and compliance and rules and policies of the Canadian Securities Exchange.
“There is a good energy between our two companies, (no pun intended) and I believe our collaboration will produce many exciting results and products now and into the future.” concluded Mr. Baiocchi.
Blockchain
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Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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