On May 28, GCL New Energy Holdings Limited announced that it has signed a term sheet with AntChain Inc. to establish a joint venture. The two companies plan to jointly invest in the new entity, which will be incorporated in the Cayman Islands. The joint venture will primarily target markets outside of mainland China, providing intelligent management as well as operation and maintenance (O&M) services for the entire lifecycle of energy and computing power assets.
According to the announcement, AntChain Inc. intends to invest 12 million through an affiliated party or designated entity, taking a 60% equity stake in the joint venture. Meanwhile, GCL New Energy plans to invest 8 million, holding the remaining 40% stake.
Corporate data indicates that AntChain Inc. is primarily engaged in innovating cutting-edge technologies, such as artificial intelligence (AI) and blockchain. GCL New Energy, on the other hand, serves as the new energy operations platform for the GCL Group, boasting profound technical capabilities and mature management experience in the operation and maintenance of renewable energy power plants and energy storage facilities. By leveraging their respective core resources, the two parties aim to build a one-stop ecosystem of "AI + trusted asset management and O&M services" tailored for overseas markets.
It should be noted that the term sheet merely reflects the mutual intention to cooperate and its terms are not legally binding on either party. Following the signing of this document, the two companies will conduct further negotiations to finalize the specifics of the partnership, including the exact investment amounts and the finer details of establishing the joint venture. Once a consensus is reached, the parties will enter into formal, definitive agreements to formalize the collaboration.
Source：EnergyTrend