MONTREAL (QC), CANADA – Media OutReach
– 8 March 2023 – Pow.re Holdings Limited (“Pow.re” or the “Company”), a high-density computing (“HDC”) and fintech enterprise, has entered into a binding agreement with a local partner to secure a 100 MW power allocation at a fixed rate for 5 years from ANDE’s newly built Yguazu substation in Paraguay.
This week, construction began on the power transformation and computation center infrastructure at Pow.re’s 8.5 hectare site directly adjacent to ANDE’s newly commissioned substation.
On February 26th, 2023, ANDE, Paraguay’s national public utility, energized the first of three 500 kV transmission lines between the Itaipu dam and Yguazu. ANDE President, Felix Sosa, announced on Twitter that Paraguay would “for the first time in history be able to withdraw 100% of the power corresponding to it in the ITAIPU Binacional, thus achieving our national energy sovereignty”. The Itaipu dam is the third largest in the world with a 14 GW production capacity, the ITAIPU Binacional agreement entitles Paraguay and Brazil to consume 50% of this capacity each (historically, Paraguay has sold the bulk of its share of Itaipu power capacity to Brazil).
The project is a singular opportunity to generate emission-free computing power from a world-class hydroelectric power plant, made even more timely as the US energy sector has been plagued with soaring electricity prices due to regional reliance on natural gas. Pow.re Director of Engineering, Maxime Bisaillon stated, ”This is a unique opportunity to access a large amount of 100% renewable power at a competitive price. We believe this set of circumstances doesn’t exist anywhere else in the world” adding, “This further validates our position that stranded sustainable power can be put to use for the mutual benefit of green power producers like Paraguay and HDC enterprises like Pow.re”
When fully operational, the Yguazu site would allow Pow.re to produce an additional estimated 4.5 EH/s (exahash per second) of computing power.
In conjunction with deploying this project, the Company also welcomes Andres Romero and Matthew Carson as advisors. Mr. Romero has an extensive understanding of the South American business landscape and the digital asset mining sector, while Mr. Carson brings a wealth of experience deploying large-scale projects such as Project Spokane and Whinstone. Both advisors formerly held positions at Canaan Creative (NASDAQ: CAN) and Northern Data (ETR: NB2) and are respected industry veterans that will help advance the Company’s business development goals.
The issuer is solely responsible for the content of this announcement.
About Pow.re Holdings Limited
Pow.re is a high-density computing operator deploying data centers in proximity to sustainable stranded energy sources to produce computing power. Pow.re will leverage its growing production to commodify computing power markets for hedging and investment.
Company Website : https://www.pow.re
LinkedIn : https://www.linkedin.com/company/pow-re-holdings
Twitter : @powremines
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Expanding on the global digital arms race that governments and corporations are engaged in, this full-day forum will see industry leaders speak, and four interactive panel sessions. Event date: 21 March 2023. Contact us to book your seats now!
The threat matrix has evolved to include information warfare, cyberspace incursions, big data and behavioural communications. Business leaders need to be aware of these threats to survive. What are you doing as a key stakeholder?
Corporations and their leadership often face weaponised information attacks in the media. Understanding these advanced business threats is crucial. Recently completed. View proceedings online.
Special session: Cyberwarfare Waged on the Corporate Sector - Lessons from the Russia-Ukraine Crisis. Corporations are in a digital arms race that many don't realise. How does this relate to your organisation?
MGBF In The News
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
We live in the age of crisis. At the heart of any crisis is the threat of rapid change. Change too deep or too wide that the current coping mechanisms for an individual, corporation or government are unable to remain resilient. An unwelcome paradigm shift, like the proverbial spider, that […]
The Malaysia Global Business Forum (MGBF) has released a report following the roundtable on ‘Digital Resilience in the Corporate Sector’, which was recently held in Kuala Lumpur. In attendance as guest of honour was Deputy Minister of Communications and Multimedia, Datuk Zahidi Zainul Abidin. The report recommended several critical development […]
Trade and investment delegations will trickle back over the next few months, but the second half of the year should see considerable return of business travellers. It was learnt that over 50 per cent of international business chambers and industry associations surveyed will consider sending exploratory teams to Malaysia during […]
KUALA LUMPUR, 30 March 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Digital Resilience in the Corporate Sector’ was held in a hybrid setting yesterday at the Element by Westin Kuala Lumpur. The discussion focused on what business leaders need to understand, to ensure business resilience and […]
The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Addressing Weaponised Information in the Media’ was held in a hybrid setting today at the Hilton Kuala Lumpur. The discussion focused on addressing one of the most relevant threats to businesses in the digital economy – cyber threats causing physical and […]
The current floods that have impacted various parts of the country have given rise to an extensive commentary on the response cycles of various stakeholders. It has in turn led to continued crisis communications and statements in the media by agencies and ministries alike. This binary approach to the discussion […]
The formation of a special Cabinet committee to develop strategic measures to safeguard the economy amid the Covid-19 outbreak shows the Malaysian government is serious about creating a balance between the continued safety of the general population and the survival of the economy. In the global context, as many countries […]