DeepGreenX Group and Hues Capital Launch $10 Billion USD Fund to Accelerate AI, Green Energy, and Computing Power
9.12.2024 13:00:00 CET | Business Wire | Press release
New DXG-Hues Fund will target innovative enterprises and solutions in these transformative ecosystems worldwide
DeepGreenX Group Inc. (“DeepGreenX,” “DXG,” or the “Company”), an AI-enabled green energy and technology company, and Hues Capital (“Hues”), a leading capital provider enabling financial technology ecosystems, AI, and green energy enterprises, jointly announced the formation of a new $10 billion USD fund (the “Fund”) to drive global advancements in AI, green energy, and computing power and accelerate sustainability initiatives worldwide.
DeepGreenX and Hues will each hold a 50% stake and act as co-general partners in the $10 billion USD DXG-Hues parent fund, which will be based in the EU and comprise two $5 billion USD sub-funds: the DXG-Hues AI Computing Infrastructure Fund and the DXG-Hues AI Energy Fund. The former will focus on global investments in AI computing power and green energy infrastructure projects, while the latter will target emerging enterprises in the fields of AI ecosystems, fintech, and green energy.
This initiative will bring together seasoned professionals with deep expertise in technology and finance. The Fund’s leadership team will include Miao Wei, former Vice President of Alibaba Cloud, and Dr. Chen Jidong, former Vice President of Ant Group's Digital Technology Division and Chief Product Officer of Security Technology. In connection with the formation of the Fund, Hues founder, Chairman, and Chief Executive Officer Dr. Jim Lai will join the Board of Directors of DeepGreenX.
Dr. Lai was previously Vice President of Tencent, where he led the Financial Internet Technology (FiT) division and contributed to the creation of WeChat Pay, WeChat Red Envelope, and the management of Tencent’s trillion-yuan Wealth Management Platform. He also played a critical role in Tencent's investment strategy, investing into dozens of WeChat Pay ecosystem companies founded by visionary entrepreneurs. He collaborated on incubating and scaling numerous industry-leading unicorns, many of which have gone public, including those focused on AI-driven big data and financial technology, as well as world-leading financial institutions. In his role as a director for several post-investment companies on behalf of Tencent, Dr. Lai has been instrumental in fostering collaboration and synergy within Tencent’s WeChat Pay ecosystem. These companies have also consistently achieved unicorn status, gone public, and generated significant returns for their investors.
“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. 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,” said Barclay Knapp, CEO of DeepGreenX. “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.”
DeepGreenX is a rapidly developing international platform company connecting green energy, nature-based and real-world assets (RWA), sustainable computing power, and AI developer communities to new-era digital trading and banking systems. The Company deploys an AI platform-as-a-service (AI PaaS) model to extract and convert sustainability, RWA, and other data into verified digital financial instruments such as renewable energy certificates (REC), tokens, and its own-branded DXG Certificates, which the Company then transacts and monetizes on digital trading and banking systems on behalf of its enterprise clients. Alongside its platform, DeepGreenX is facilitating the synergistic development of human intelligence plus AI applications via a 190,000-person strong AI developer community.
“Hues’ depth of expertise will be instrumental in supporting DeepGreenX’s efforts to establish and operate a global CBDC clearing network,” said Dr. Lai. “This collaboration will also strengthen strategic integration across both companies’ ecosystems, spanning portfolios in AI, green energy, and computing power.”
Hues boasts a foundation of global institutional LPs, with a mission to enable large-scale financial technology ecosystems, AI technology, and green energy enterprises to scale internationally. It seeks to build a globally integrated ecosystem that bridges AI, financial technology, and sustainable energy solutions. It is led by Dr. Lai, former founding Chairman of Fusion Bank, with stakeholders such as Tencent, the Hong Kong Stock Exchange, and ICBC (Asia).
About DeepGreenX
Founded in 2020 and headquartered in Seoul, DeepGreenX Group Inc. is a digital transformation company providing AI and financialization solutions for sustainability initiatives and real-world assets worldwide. With developing operations in 20 cities across four continents, DeepGreenX employs proprietary AI technology and a PaaS model to capture and verify attractive data assets, digitally convert those assets into digital financial products, and then transact with them on global digital trading and banking platforms on behalf of its enterprise customers. For more information on DeepGreenX, visit: www.DeepGreenX.com.
About Hues Capital
Founded in 2023, Hues Capital is a PE fund management company with an internet background, aimed at helping entrepreneurs develop their own companies and businesses in the internet ecosystems of China, Japan, and Southeast Asia. The founder and team of Hues Capital have created the largest mobile payment ecosystem covering the world, incubating and empowering numerous successful unicorn enterprises in the FinTech industry. The current investment areas of Hues Capital mainly include three directions: FinTech, AI, Supercomputing Data Center and New energy EV.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241208029753/en/
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Incyte Announces New Positive 54-Week Late-Breaking Data for Povorcitinib in Hidradenitis Suppurativa at the 2026 American Academy of Dermatology (AAD) Annual Meeting28.3.2026 20:00:00 CET | Press release
Phase 3 data from the STOP-HS program demonstrate povorcitinib’s substantial and durable clinical efficacy through Week 54 in patients with moderate to severe hidradenitis suppurativa (HS). Through Week 54, clinically meaningful and durable responses were observed across all groups in both STOP-HS1 and STOP-HS2, with up to 71.4% of patients achieving HiSCR50. Improvements in clinical responses across high stringent thresholds were observed, with up to 57% of participants achieving HiSCR75 and up to 29% of participants achieving HiSCR100. Povorcitinib treatment led to consistent reductions across key inflammatory lesion types, with full resolution (ANdT=0) achieved in up to 20% of patients. Additionally, clinically meaningful improvements in quality-of-life measures, including skin pain and fatigue, were observed at Week 54. The overall safety profile of povorcitinib through 54 weeks is consistent with previously reported data, and both doses were well tolerated. Incyte (Nasdaq:INCY) to
Takeda’s Zasocitinib Delivered Rapid and Durable Skin Clearance in a Convenient Once-Daily Pill, Affirming Promise to Reshape Psoriasis Care28.3.2026 20:00:00 CET | Press release
About 70% of patients treated with zasocitinib achieved clear or almost clear skin (sPGA 0/1) at week 16 in Phase 3 plaque psoriasis studies A significantly greater PASI 75 response rate versus placebo was observed as early as week 4 Safety profile consistent with Phase 2b studies with no new safety signals identified Takeda(TSE:4502/NYSE:TAK)today announced new data from the two pivotal Phase 3studies of zasocitinib (TAK-279), a next-generation, highly selective oral tyrosine kinase 2 (TYK2) inhibitor, in adults with moderate-to-severe plaque psoriasis (PsO).1 Presented as a late-breaking abstract at the 2026 American Academy of Dermatology (AAD) Annual Meeting, these data show that convenient once-daily oral zasocitinib demonstrated rapid and durable skin clearance with a safety profile consistent with Phase 2b studies.1,2 “Our goal in psoriasis treatment is clear or almost clear skin, and previously this has been achieved primarily with injectable therapies,” said Melinda Gooderham,
AAD 2026: Late-Breaking Nemolizumab Data Demonstrate Clinically Meaningful Benefits for Children Aged 2 to 11 With Moderate-to-Severe Atopic Dermatitis28.3.2026 16:00:00 CET | Press release
Pharmacokinetics, safety and efficacy clinical study data show that nemolizumab achieved clinically meaningful reductions in skin lesions and itch through Week 16, which were sustained up to a year in children aged 2 to 11 with moderate-to-severe atopic dermatitis1 These findings reinforce the previously established safety and efficacy of nemolizumab in adults and adolescents with moderate-to-severe atopic dermatitis, for which it is approved by multiple global regulatory authorities2,3 Up to 25% of children are affected by atopic dermatitis, and currently there are limited approved treatment options for children living with moderate-to-severe atopic dermatitis4,5 Galderma (SIX: GALD) today announced new phase II data showing that nemolizumab was well tolerated and effective in children (aged 2 to 11 years) with moderate-to-severe atopic dermatitis, with a clinically meaningful and sustained reduction in skin lesions and itch for up to a year.1 Results will be presented in a late-break
Angelalign Technology (6699.HK)Releases 2025 Results: Passion for Clinical Excellence Drives Worldwide Growth27.3.2026 20:56:00 CET | Press release
Angelalign Technology Inc. (6699.HK) (“Angel” or the “Company”) released its financial results for fiscal year 2025. During the reporting period, the Company continued to do well in both the global and China markets. Total case volume was 532,400, which increased 48.1%, revenue was USD 370.3 million, which increased 37.8%, and adjusted net profit was USD 43.8 million, which increased 63.0%. The results were driven by Angel’s passion for clinical excellence and its open and inclusive culture that empowers talented people to work together to meet customer needs, the Company said. Fox Hu, CEO of Angel, stated: “The clear aligner industry is complex and multidisciplinary. It requires top-tier technical and operational talent along with seamless collaboration among professionals from diverse geographies. Angel’s open and inclusive culture attracts professionals who share a passion for clinical excellence and a dedication to bringing outstanding products and services to customers. This melti
Axway Positioned as a Leader in the IDC MarketScape: Worldwide API Management 2026 Vendor Assessment27.3.2026 18:46:00 CET | Press release
Axway, a 74Software company (Euronext: 74SW) and global leader in federated API management and enterprise integration, has been named a Leader in the IDC MarketScape: Worldwide API Management 2026 Vendor Assessment.1 Axway Amplify securely connects, orchestrates, and automates data integration. Organizations in financial services, manufacturing, healthcare, and other industries rely on Amplify to modernize integrations and confidently unlock data to deliver superior digital services faster. The report notes: “The platform benefits from Axway’s long-standing experience in B2B integration, secure file transfer, and legacy connectivity, providing differentiated capabilities for organizations that need to expose and control APIs around core systems that are not cloud-native.”1 This multi-pattern expertise in security, integration, and federated governance — built during the early phases of the API-driven digital transformation — becomes especially critical as enterprises seek to govern dat
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom