Climate Insider Brief:
- DeepGreenX and Hues Capital have formed a $10 billion USD fund focused on advancing AI, green energy, and sustainable computing power, with two sub-funds: one for AI infrastructure and green energy, and another for emerging enterprises in AI ecosystems, fintech, and green energy.
- The fund will be led by industry veterans, including Miao Wei (former Vice President of Alibaba Cloud), Dr. Chen Jidong (former Vice President of Ant Group), and Dr. Jim Lai (founder of Hues Capital and former Tencent executive), bringing significant expertise in technology and finance.
- The collaboration aims to accelerate the transition to a global green economy, promoting long-term sustainability by investing in high-impact enterprises and projects across AI, green energy, and computing power.
DeepGreenX Group Inc. (DeepGreenX or DXG) and Hues Capital have announced the formation of a groundbreaking $10 billion USD fund aimed at accelerating advancements in AI, green energy, and sustainable computing power on a global scale. The joint initiative is designed to accelerate the transition to a green economy, fostering long-term sustainability through strategic investments in high-impact enterprises and projects.
The DXG-Hues fund will be co-managed by both companies, with each holding a 50% stake. It will operate out of the European Union and will be split into two $5 billion USD sub-funds: the DXG-Hues AI Computing Infrastructure Fund and the DXG-Hues AI Energy Fund. The AI Computing Infrastructure Fund will focus on investments in global AI computing power and green energy infrastructure, while the AI Energy Fund will target emerging enterprises in AI ecosystems, fintech, and green energy.
This strategic partnership brings together a wealth of expertise in technology and finance. The fund’s leadership team includes Miao Wei, former Vice President of Alibaba Cloud, and Dr. Chen Jidong, former Vice President of Ant Group’s Digital Technology Division. Additionally, Dr. Jim Lai, founder and CEO of Hues Capital, will join DeepGreenX’s Board of Directors. Dr. Lai’s vast experience includes leading the creation of WeChat Pay at Tencent, where he played a pivotal role in nurturing numerous successful unicorns in AI and financial technology.
“We are thrilled to launch this new Fund with Hues, which is a product of our shared vision that new, innovative capital sources are required for these new, innovative ecosystems,” said Barclay Knapp, CEO of DeepGreenX. “With this collaboration, we are taking a bold and strategic step forward in harnessing AI-driven computing power, advancing sustainable energy solutions, and catalyzing innovative financial systems.”
DeepGreenX is an international platform company connecting green energy, nature-based assets, sustainable computing power, and AI communities to new-era digital trading and banking systems. Its AI platform-as-a-service (AI PaaS) model enables the extraction, conversion, and digital monetization of sustainability data into verified financial products, such as renewable energy certificates (RECs) and proprietary DXG Certificates.
Hues Capital, established in 2023, is a leading capital provider that bridges AI, financial technology, and green energy. Its extensive institutional backing includes stakeholders like Tencent, the Hong Kong Stock Exchange, and ICBC (Asia). The firm aims to scale AI-driven fintech and green energy ventures globally, strengthening strategic integration across both companies’ ecosystems.
“We believe this Fund will provide substantial financial resources to high-impact enterprises and projects, accelerating the transition to a global green economy while promoting long-term sustainability,” added Dr. Lai.
Climate Insider Notes:
- The $10 billion fund is a significant investment in AI, green energy, and computing infrastructure, aiming to drive sustainable global initiatives.
- DeepGreenX and Hues Capital are key players in integrating AI with green energy, financial technology, and computing power.
- The leadership of experienced figures like Dr. Lai, Miao Wei, and Dr. Chen Jidong strengthens the fund’s potential for success.
- The strategic collaboration underscores the need for innovative capital solutions in fostering sustainable ecosystems.
Source: Businesswire
Featured Image: Credit: DeepGreenX
