Novateqni Introduces Novavolt, a Blockchain Based Green Power Solar Solution FOR Those Without Electricity
NOVATEQNI INTRODUCES NOVAVOLT, A BLOCKCHAIN BASED
GREEN POWER SOLAR SOLUTION FOR THOSE WITHOUT
ELECTRICITY
FOR IMMEDIATE RELEASE
April 3, 2018 – Calgary, Alberta – NovaTeqni Corporation (“ NovaTeqni” or the
"Company") (TSXV:NTQ, OTCQB:NVTQF) is pleased to announce significant
progress resulting in first demonstrations of its upcoming blockchain based solar
power solution.
NovatTeqni’s solution addresses a significant, real need for hundreds of millions
of people who do not have electricity. The solution now enables even the poorest
households to obtain electricity by being available on a pay per use or pre-paid
basis without an upfront investment.
A December 2017 article headlined “1.3 Billion are living in the Dark” by the
Washington Post highl ighted the urgent need for electricity around the world.
According to the research on which the article is based , 622 million people in
Africa alone do not have access to electricity.
Although a number of solar lantern to micro grid projects have previously been
implemented, the need remains critical. NovaTeqni is addressing the problem
with the use of new technologies in order to provide practical, reliable real-world
solutions to the hundreds of millions of people without electricity.
NovaTeqni’s range of solutions will cater for, not only the outright purchase of
electricity, but will allow prepaid or postpaid payments based on time or actual
consumption on a secure pay as you go basis . This flexibility is crucial to cater for
all use cases including enabling poor communities where villagers cannot pay for
a complete system to light up their homes after dark.
Along with standalone systems, t he NovaVolt solutions will empower small to
larger entrepreneurs to service villages by setting up nano and micro-grids to sell
electricity on a consumption or rental basis.
Additionally, Novateqni intends to add to its offering, a range of highly energy
efficient solar appliances to maximize the capacity of the small power systems.
Such appliances will include energy efficient fridges , lights, TV’s, radios and
effective water filtration units.
Key features of the NovaVolt system include the following:
- Online remote support and monitoring
- Postpaid or pre-paid on either time or consumption basis
- Easy top up via cellphone or the internet
- Ability to sell surplus electricity
- Blockchain for token transfer and security
Completion of the first pilot installations will begin in Q3 2018. Specific
configurations for clinics, schools and small retail outlets are also planned. Retail
outlets will be provided with the ability to offer other online services such as
mobile money wallet top up, airtime sales along with electricity sales.
The Company’s initial goal is to supply more than 1 Megawatt of power through
the distributed and microgrid systems.
To quickly rollout the system, NovaTeqni aims to partner with telecommunication
companies, government departments and aid organizations.
Currently, the dominant method to transfer tokens for electricity consumption is
the Standard Transfer Specification ( “STS”) used by hundreds of utilities in more
than 30 countries , deploying more than ten m illion electricity meters. STS,
released as far back as in 1993, was aimed at secure offline transfer of pre -paid
tokens. Novateqni’s NovaVolt solution will replace the venerable Standard
Transfer Specification (“ STS”) token system with blockchain technology and will
undertake token transfers using NovaVolt or partner branded coins.
As part of the overall solution NovaTeqni is also negotiating for the establishment
of a secure P ayment Card Industry (“P CI”) compliant datacenter in the U nited
States to handle the payment transactions and serve as one of the NovaVolt Coin
blockchain gateways.
Through the use of blockchain , NovaVolt owners on nano and micro grids with
excess credit will be able to sell generated electricity to other NovaVolt owners
and also transfer credit directly from their system to other NovaVolt owners who
may not have credit available.
Gerhard Mynhardt CEO of Novateqni, stated “This is a big step forward to
improve the lives of hundreds of millions of people. The use of blockchain for this
application provides real advantages with regards to security, cross system token
transfers and payments. Although we respect STS , it is time to move to
connected devices utilizing proven blockchain technologies. We aim to make this
implementation an open standard to also include grid connected metering. The
connected system will also allow mobile wallet services, such as MPESA, ( the
largest mobile money transfer system in Africa ) to be used to purchase NovaVolt
Coins with direct transfer to NovaVolt systems. Power supply ing entrepreneurs
will become micro -utilities, able to monitor and manage supply and demand via
smartphone apps and able to remotely monitor usage and issues down to
individual endpoints. In tim e NovaVolt Coins may become a crypto coin with
value. The NovaVolt system can promote the establishment of tens of thousands
of small entrepreneurs. We have worked quietly on a new generation of solar
solutions to address this significant identified need. We are therefore pleased to
have completed our first demonstrations of the new system. Novateqni has
previously supplied thousands of solar power packs to Africa and elsewhere so
the NovaVolt system further builds on what the Company has done in the past.”
About Novateqni
NovaTeqni is a technology based company that is focusing on biometrics and
Financial technologies. Using its management exper ience and developed
intellectual property, NovaTeqni provides solutions and products for voter
validation, voter registration, financial transactions and biometric solutions. Using
its platform of products, NovaTeqni can provide clients with custom solutio ns for
their particular industry. NovaTeqni has corporate offices in Calgary, Alberta, sales
offices in Norfolk, Virginia, development in Johannesburg, South Africa and
manufacturing in Hong Kong.
For further information, please contact Gerhard Mynhardt, Chief Executive Officer
of the Corporation, by email at [email protected].
Reader Advisory
This press release contains forward -looking statements and forward -looking information within the meaning of
applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to
identify forward -looking information or statements. More particularly and without limitation, this news release
contains forward looking statements . The forward-looking statements and information are based on certain key
expectations and assumptions made by the Corporation, in cluding expectations and assumptions concerning the
blockchain based NovaVolt . Although the Corporation believes that the expectations and assumptions on which
such forward-looking statements and information are based are reasonable, undue reliance should not be placed on
the forward looking statements and information because the Corporation can give no assurance that they will prove
to be correct. By its nature, such forward -looking information is subject to various risks and uncertainties, which
could c ause the actual results and expectations to differ materially from the anticipated results or expectations
expressed. These risks and uncertainties, include, but are not limited to, the Corporation's expectations and
assumptions concerning the blockchain based NovaVolt system and the ability to complete and fulfill the obligations
and succeed in the rollout. Readers are cautioned not to place undue reliance on this forward -looking information,
which is given as of the date hereof, and to not use such forw ard-looking information for anything other than its
intended purpose. The Corporation undertakes no obligation to update publicly or revise any forward -looking
information, whether as a result of new information, future events or otherwise, except as requ ired by applicable
law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.