New York and Paris—November 21, 2024 – DeepGreenX Group Inc., an AI-powered green energy technology company, and Veea Inc. (NASDAQ: VEEA), a leader in edge computing and AI solutions, have announced a global strategic partnership aimed at revolutionizing the energy sector. The collaboration will implement an AI-driven virtual energy grid supported by lease-financed infrastructure valued at $140 billion over the next five years.
The initiative will leverage Veea’s cybersecure edge computing platform to develop a decentralized Physical Infrastructure Network (DePIN), transforming energy markets through blockchain and Contextual AI technology. The platform will integrate real-time data to manage sustainable energy sources such as wind, hydro, geothermal, and alternative fuels while enabling their financialization as Real-World Assets (RWA).
Barclay Knapp, CEO of DeepGreenX, emphasized the project’s potential to address global energy challenges. “Real-time application of contextual AI with Veea’s groundbreaking platform to DeepGreenX’s virtual energy grid and other initiatives such as carbon credits promises to address some of the world’s most pressing energy challenges,” Knapp stated.
Allen Salmasi, CEO of Veea, highlighted the transformative nature of the platform. “The notion of a global virtual energy grid managed through a terrestrial- and satellite-based network supported by an AI-driven platform is truly revolutionary,” Salmasi said.
Lease Financing and Carbon Credit Integration
DeepGreenX has committed up to $2.8 billion in 2025 as part of a $10 billion investment in edge infrastructure. The initiative includes the trading of carbon credits derived from both nature-based and industrial assets on DeepGreenX’s ECEx exchange. The platform uses digital Measurements, Reporting, and Verification (dMRV) powered by Veea’s IoT-enabled computing solutions, enabling accurate tracking and trading of carbon credits globally.
Veea’s technology stack supports decentralized edge computing and federated AI learning, positioning the platform as a cornerstone for energy transition solutions. Partnerships with firms like Nvidia, Qualcomm, and Starlink further bolster the project’s technological foundation.
About the Companies
DeepGreenX, founded in 2020 and headquartered in Seoul, specializes in AI and blockchain solutions for sustainable energy initiatives. Veea, based in New York City, offers integrated edge computing platforms for industries ranging from smart cities to green energy.
For more information, visit DeepGreenX and Veea.
