Power Engineering Corporation (PEC), a subsidiary of JP 3E Holdings, Inc. (OTC: SPZI), Announces Joint Venture with Bloxcross
On May 22, 2024, Power Engineering (PEC), a subsidiary of JP 3E Holdings, announced a joint venture with Bloxcross (BLOX) to expand operations in the Middle East and North Africa (MENA) region. The partnership will initially focus on PEC’s Oil and Gas vertical, with Bloxcross financing trading activities. This agreement aims to implement a Trade Financing Platform for PEC’s global trade deals, leveraging Bloxcross's AI-powered solutions for secure and efficient transactions. PEC will handle trade transactions, and Bloxcross will provide significant financing and necessary digital infrastructure. The collaboration promises to enhance PEC's operations in the Oil and Gas, Healthcare, Construction, and Commodities sectors, driving substantial growth and value for partners and customers.
- Joint venture with Bloxcross to expand operations in the MENA region.
- Initial focus on PEC’s dedicated Oil and Gas vertical.
- Significant financing from Bloxcross for PEC’s trading activities.
- Implementation of a Trade Financing Platform for global trade deals.
- Substantial growth potential in the Oil and Gas, Healthcare, Construction, and Commodities sectors.
- Secure and efficient transaction processing through Bloxcross's AI-powered solutions.
- Enhanced value for PEC's partners and customers.
- Opportunity to create vendor accounts, send payments globally, and generate financial reports.
- Positive statements from key executives indicating mutual growth and prosperity.
- No specific financial figures or percentages provided to gauge the immediate impact.
- Potential risks involved with entering new markets in the MENA region.
- Dependence on Bloxcross for financing and digital infrastructure.
- Unclear timeline for the full implementation of the Trade Financing Platform.
CLEARWATER, Fla., May 22, 2024 (GLOBE NEWSWIRE) -- Power Engineering Corporation (PEC), a subsidiary of JP 3E Holdings, Inc., formerly Spooz, Inc. (OTC: SPZI) announces a joint venture with Bloxcross (BLOX) to expand business operations in the Middle East and North Africa (MENA) region. This venture will focus on the Oil and Gas, Healthcare, Construction, and Commodities sectors.
https://www.pec.com.qa/
https://www.blox.global/
The initial transaction will begin with PEC’s dedicated Oil and Gas vertical. Blox will finance its current trading activities. This Memorandum of Agreement (MOA) outlines the steps to implement the Trade Financing Platform for PEC’s global trade deals. PEC will direct trade transactions through its subsidiaries and partners to Blox for funding and payment processing. In return, Blox will provide substantial financing and funding partners to support the deals, along with the global digital infrastructure necessary for secure and efficient transactions.
Blox delivers a customized, comprehensive solution for PEC Holdings, Inc. This solution will enable PEC to create vendor accounts, fund them, send payments on behalf of their customers anywhere in the world, and produce proof of delivery, activity reports, and profit and loss statements.
"By combining PEC’s expertise in the Oil and Gas, Healthcare, Construction, and Commodities sectors with Bloxcross's innovative AI-powered trade financing solutions, we are poised to unlock tremendous opportunities and drive substantial growth. This partnership will enhance our operations and deliver exceptional value to our partners and customers." states John Park, Chairman, and CEO of JP 3E Holdings.
Diego Baez, CEO of Bloxcross, Inc., confirms: "This joint venture between Bloxcross and PEC in Qatar will drive growth with expansion in the MENA region. Our goal is to continue expanding our global footprint and provide a comprehensive worldwide Trade and finance solution for our clients."
Dr. Ali Rana Sajad, CEO of PEC Holdings, Inc., shared his excitement, by saying: "This partnership promises mutual growth and prosperity. I look forward to discussing this opportunity further."
About Spooz, Inc. (SPZI) now JP 3E Holdings, Inc.
Operating companies to supply the world with the vital needs of Eating, Energy, and Education (3E) which are essential needs for our everyday living and quality of life.
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company's expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange - including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will" and other similar expressions - are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company's control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company's revenues, financial condition or stock price.
Company Contact:
John K. Park, Chairman and CEO
john.park@jp3eholdings.com
732-241-0598 Office
Websites: https://www.jp3e.com/
https://www.jp3eholdings.com/
Twitter: http://www.twitter.com/SpoozInc
Facebook: http://www.Facebook.com/SpoozInc
E-Mail: info@jp3e.com
FAQ
What is the significance of PEC's joint venture with Bloxcross?
How will Bloxcross support PEC’s trading activities?
What sectors will the PEC and Bloxcross joint venture target?
What is the initial focus of the PEC and Bloxcross partnership?
What benefits will the PEC and Bloxcross joint venture bring?
What are the potential risks of the PEC and Bloxcross joint venture?
