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 highlighted 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, the 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 million 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 Payment Card Industry (“PCI”) compliant datacenter in the United 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 supplying 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 time 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.”
NovaTeqni is a technology based company that is focusing on biometrics and Financial technologies. Using its management experience 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 solutions 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@example.com.