(Oslo, 6 July 2022) DLTx ASA (DLTx, OSE: DLTX) announces that it has entered into a partnership with UK based Hivello for the development of a Helium hotspot network.
The partnership entails that in exchange for access to DLTx’s suppliers, financiers, and management expertise, Hivello will issue equity to DLTx. Hivello is currently raising USD 5m for hardware, marketing and working capital for the initial stage of growth. DLTx will have a stake of 40% prior to the raise and both parties will be diluted on a pro-rata basis by new capital.
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Helium is a decentralized, global wireless network optimized for IoT devices utilizing the helium blockchain where proof-of-coverage algorithms validate network activity and hotspot hosts earn HNT token rewards.
Hivello focuses on developing a hotspot network in Europe with a growth plan for rolling out IOT hotspot coverage across Europe, Africa, LATAM and Australia. The company has a proprietary model for targeting the placement of hotspots with individuals and companies in the most profitable locations, then allowing for either a revenue share on the rewards or alternative compensation to the hosts.
“Hivello is pleased to be partnering with DLTx to accelerate the growth of its IoT hotspot network. The DLTx team has a strong track record in protocol expansion across the Web3 space which will assist Hivello to upscale its hotspot coverage initially in Europe, and then globally,” says Hivello Chairman, Dom Carosa.
The partnership will see Hivello’s operating team combining with DLTx’s strategic knowledge, finance and hardware expertise and connections. DLTx will take a board position at Hivello and have weekly involvement.
“For DLTx, this deal provides a great step into the Decentralized Wireless (“DeWi”) market, partnering with a strong operating team on the ground in Europe, also providing broader, global market exposure. DLTx sees DeWi as a core Web3 infrastructure plays and one that we should be very active in. We are delighted to join forces with Dom and his experienced team, who have outlined a strong growth plan for the months and years ahead.” says DLTx Chief Commercial Officer, Simon Campbell.
For further information, please contact:
Thomas Christensen, CEO, +47 922 55 444
About DLTx | www.DLTx.com
DLTx is a vertically integrated technology company expanding Web3 by deploying blockchain infrastructure at scale across major global industries. We are decentralists who believe in the new economy that’s powered by cryptographic digital assets. Our team has been at the forefront of developing and launching 10 of the most important protocols in the blockchain space including Ethereum, developed the first blockchain investment fund in 2014, built out massive scale mining infrastructure since 2015, and now operates the first publicly traded company focused on powering Web3.
About Hivello | www.hivello.com
Hivello operates a network of hotspots connected to the Helium IoT network utilizing a proprietary algorithm that helps determine the best locations to generate the highest yield. Hivello then places hotspots with individuals and companies and splits revenue generated from the hotspot’s IoT activity. The business was co-founded by Blockmate Ventures (TSX.V: MATE) which is a Web3 incubator/venture creator focussing on businesses that utilize blockchain technology and decentralization to provide greater utility, accessibility and sustainability around everyday services.
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