EV Battery Tech Secures Early-Stage Investment in Crypto Protocol

Rhea-AI Summary

EV Battery Tech has secured a seed round ownership position in the ROBe² Protocol, which recently had its patent-pending “Proof of Renewable” mining protocol published. This partnership with IONiX Pro aims to develop an energy storage system based on this innovative protocol. Notably, the PoR Protocol was presented at an international conference, highlighting its potential to change cryptocurrency mining practices. Additionally, the company successfully acquired $2,000,000 in NFT Bonds from a recent auction, further enhancing its investment in this unique protocol.

Positive

• Secured $2,000,000 in NFT Bonds, enhancing cryptocurrency investment.
• Collaboration with IONiX Pro to develop energy storage system with innovative mining protocol.
• Published PoR Protocol at an international conference, gaining significant visibility.

Negative

• None.

The Company has Secured a Seed Round Ownership Position in the ROBe² Protocol Which Has Now Had Its Patent Pending “Proof of Renewable” Mining Protocol Published

VANCOUVER, British Columbia, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) (OTCQB: CRYBF), is pleased to announce that it has invested in the Renewable Obligation Base energy economy protocol (“ROBe² Protocol”).

On October 5, 2021, the Company was accepted into the Renewable Energy Alliance (the “REA”), and has since commenced a collaboration with the ROBe² Protocol and IONiX Pro Battery Technologies Inc. (“IONiX Pro”). The collaboration is intended to develop an energy storage system (ESS) utilizing the Company’s patented battery management system (BMS) to create the world’s first device to operate the ROBe² Protocol’s patent pending Proof of Renewable mining protocol (the “PoR Protocol”). The PoR Protocol has the ability to both verify energy’s renewable source and use a blockchain based cryptocurrency mining system that will mine the ROBe² Protocol. This milestone for the ROBe² Protocol and its PoR Protocol is particularly significant, as one of the common criticisms towards cryptocurrencies in general is the way in which they are mined.

Since the collaboration commenced, the Company and IONiX Pro have seen rapid development of the ROBe² Protocol, particularly regarding the PoR Protocol. Notably, on October 29, 2021, the PoR Protocol was published at the International Conference on Cryptography and Blockchain in Vienna, Austria. Some of the more advanced cryptocurrencies have published “white papers” which provide investors technical information about their concept and a roadmap for how they plan to grow and succeed. However, only a few have had academic papers published that contain original research results that are reviewed by academic experts before being published. The PoR Protocol academic paper is also anticipated to be published in the following journals:

• International Journal of Computer Networks & Communications (IJCNC) - Scopus Indexed, ERA Indexed
• International Journal On Cryptography And Information Security (IJCIS)
• International Journal of Security, Privacy and Trust Management (IJSPTM)
• International Journal of Network Security & Its Applications (IJNSA) - ERA Indexed
• Information Technology in Industry (ITII) New- ESCI(WOS) Indexed
  

“I am honored to have this ground-breaking scientific achievement published at the International Conference on Cryptography and Blockchain,” commented Dr. Adel El-Messiry, co-author of the PoR academic paper.

“Having a published academic paper sets the ROBe² Protocol apart from other cryptocurrencies. We hope the innovation of the Proof of Renewable mining protocol will become the new standard in crypto mining,” continued Dr. El-Messiry.

Through its collaboration with the ROBe² Protocol, the Company was able to participate in a unique and limited Non-Fungible-Token (NFT) offered by the ROBe² Protocol. The NFT auction for a limited amount of ROBe² Protocol NFT Bonds (each an “NFT Bond”) took place on November 1, 2021 at 9am CST. All the NFT Bonds sold out in less than one minute. The Company is pleased to announce that it managed to secure $2,000,000 worth of NFT Bonds in this auction.

The NFT Bonds

Like the ROBe² Protocol, the NFT Bonds have several unique characteristics as a means of investing in cryptocurrency:

• they provide an opportunity for investors to own part of the ROBe² Protocol, pre-launch;
• their value is based on the price of the underlying token of the ROBe² Protocol;
• they automatically deposit tokens directly into the digital wallet of the owner until maturity;
• they provide the owner the flexibility to trade the NFT Bond on an NFT exchange or hold the NFT Bond and collect the tokens, or both; and
• no two are alike, making each NFT Bond completely unique.
  

“The REA, the ROBe² Protocol and EV Battery Tech/IONiX Pro are potentially changing the way all crypto is mined as they collaborate on the PoR Protocol,” commented Dr. Tom Davis, Chief Renewable Officer of the REA.

“This is what recently captivated the audience at the International Conference on Cryptography and Blockchain in Vienna. They were filled with awe at the possibilities as they processed the PoR Protocol,” continued Dr. Davis.

The Company has now provided its shareholders exposure to the growth of the ROBe² Protocol, while it continues to work with IONiX Pro to develop the hardware for the ROBe² Protocol’s patent pending PoR Protocol. The Company is following the lead of other tech giants that have started building cryptocurrency portfolios.

“This is a pivotal moment in blockchain mass adoption developed through a visionary approach to solve the energy problems in our world,” commented EV Battery Tech CEO, Bryson Goodwin.

“We continue to increase our exposure to crypto, providing our shareholders more and more exposure to the potential upside in this forward-looking movement. As the other tech giants in our space did before us, we also intend to increase our position as we grow alongside this energy conscious cryptocurrency protocol,” concluded Mr. Goodwin.

On behalf of the Company,

Bryson Goodwin,
Chief Executive Officer

About the Renewable Obligation Base energy economy (ROBe²) Protocol

The Renewable Obligation Based energy economy protocol, or ROBe2 (pronounced Rob-ee), is a decentralized digital currency, designed to incentivize the creation and consumption of renewable energy, by creating an obligation to generate renewable energy each time a token is mined and transacted. The ROBe2 Protocol can only be mined via a patent pending, carbon negative “Proof of Renewable” mining protocol that requires the creation of renewable energy. While the target motivations center around the creation of the most advanced decentralized utility digital currency, the larger objectives are to stimulate a global movement against climate change and economic oppression that plague our world even in this modern day of science and technology.

Solving the global energy crisis requires local implementation of a global system that can track, verify, and incentivize renewable energy production at the base level. It requires a Renewable Obligation Base energy economy, that is open to everyone and where each financial transaction creates the incentive for generating renewable energy continuously and automatically.

Learn more at ROBe².io

About EV Battery Tech 

EV Battery Tech is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing electric vehicle (EV) and energy storage solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.

Learn more at evbattery.tech

About IONiX Pro

IONiX Pro is a leading battery products and services company. Utilizing proprietary blockchain technology and patented battery management system (BMS) technology, licensed by EV Battery Tech, IONiX Pro has a growing portfolio of scalable, cutting-edge products and services for the home and office, recreational vehicles, major industrial applications and electric vehicle charging infrastructure. IONiX Pro has created disruptive “Smart” products targeted for the electric vehicle (EV) and energy storage system (ESS) markets.

Learn more at ionixpro.com

Contact Numbers and Emails 

For Investor Inquiries, please contact (236) 259-0279 or email info@evbattery.tech. 
For Product or Sales Inquiries, please contact (236) 266-5174 or email sales@ionixpro.com.  
All communications are managed by AlphaOne Media Group Inc.  

The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release. 

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties, including the specific factors disclosed here and elsewhere in EV Battery Tech’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will”, “hope”, “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “believe”, “should”, “projected”, “proposed”, “rendering” and similar expressions, are forward-looking statements. The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements respecting: (i) the utility and function of the ROBe² Protocol and the PoR Protocol; (ii) the environmental impact of the ROBe² Protocol and the PoR Protocol; (iii) value of the NFT Bonds ; and (iv) the future success of the collaboration between the Company, IONiX Pro and ROBe² Protocol. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

FAQ

What is the ROBe² Protocol developed by EV Battery Tech?

The ROBe² Protocol is a decentralized digital currency aimed at incentivizing renewable energy production through a unique mining protocol.

How much did EV Battery Tech invest in NFT Bonds?

EV Battery Tech secured $2,000,000 worth of NFT Bonds in a recent auction.

What is the significance of the Proof of Renewable Protocol?

The Proof of Renewable Protocol aims to verify renewable energy sources used in cryptocurrency mining, potentially transforming industry practices.

When was the PoR Protocol presented at an international conference?

The PoR Protocol was presented on October 29, 2021, at an International Conference on Cryptography and Blockchain in Vienna, Austria.

Who are the collaborators in the development of the ROBe² Protocol?

EV Battery Tech collaborates with IONiX Pro to develop the energy storage system utilizing the ROBe² Protocol.