Brief: DLT And DSM Enter Agreement With Genesis Global In US

Univid ASA

11/08/2021 13:17

Aug 11 (Reuters) - DLT ASA  DLTX.OL :
    * DLTX COLLABORATES WITH DSM TECH ENTERPRISES & GENESIS
GLOBAL
CAPITAL TO
    * IN PARTNERSHIP WITH DSM ENTERED INTO ARRANGEMENT WITH
GENESIS
GLOBAL CAPITAL, LLC (GENESIS) TO DEVELOP FILECOIN (FIL) STORAGE
FACILITY IN US
    * HAS ENTERED INTO JV WITH DSM FOR DEVELOPMENT OF FILECOIN
(FIL)
STORAGE FACILITY WHERE DLTX HAS INVESTED USD 1 MILLION
    * TOTAL FUNDING IN EXCESS OF USD 25 MILLION HAS BEEN SECURED
THROUGH A COMBINATION OF A LENDING FACILITY WITH GENESIS AND
FUNDS CONTRIBUTED THROUGH A SPECIAL PURPOSE VEHICLE SUBSIDIARY
    * JV WILL HAVE FIRST STORAGE PROVIDERS READY IN AUGUST 2021
    * FACILITY IS EXPECTED TO TURN A PROFIT IN Q4 2022
    * JV CONTINUALLY ADD STORAGE PROVIDERS AS IT GROWS TOWARDS
ITS
GOAL OF 128,000 TEBIBYTE (TIB) OF STORAGE
    * PROJECT IS ESTIMATED TO GENERATE CASH FLOWS IN RANGE OF
USD 130M
TO 200M DURING FIRST TEN YEARS OF OPERATION TO DLTX, BASED ON
FIL PRICES OF USD 50 AND USD 75, RESPECTIVELY
    * BREAKEVEN IS ESTIMATED BELOW A FIL PRICE OF USD 10
    * JV IS ORGANIZED AS A NEW COMPANY, FILE STORAGE PARTNERS,
LLC,
WHICH WILL BE
    * 51% IN JV WILL BE OWNED BY DLTX AND 49 PERCENT BY DSM

Source text for Eikon:  ID:nObijm5NQa 
Further company coverage:  DLTX.OL 

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