- U Power (UCAR, Financial) partners with IoTeX to expand Web 3.0 AI-powered energy and transportation solutions.
- The collaboration aims to tokenize real-world assets using AI technologies.
- HabitTrade to act as the structuring and execution agent for token-equity integration.
U Power Limited (UCAR), a leader in AI-powered solutions for energy grids and transportation systems, has entered into a strategic partnership with IoTeX, a blockchain platform renowned for its innovative approaches in transforming machine-generated data into AI-driven insights. The collaboration focuses on enhancing U Power's proprietary UOTTA™ battery-swapping technology through the tokenization of real-world assets (RWAs) backed by corporate bonds.
Under the agreement, IoTeX will purchase RWAs issued by U Power, bolstering U Power’s capital structure while further developing their AI-powered energy solutions. The partnership aims to create a more efficient and scalable asset growth model by exploring the integration of advanced AI technologies in tokenization processes.
The integration of IoTeX's IoT blockchain platform with U Power’s battery-swapping stations will enable real-time tracking, performance optimization, and safety monitoring. This system promises to tackle significant challenges in the electric vehicle (EV) ecosystem, such as battery provenance and performance verification.
HabitTrade, a global multi-asset trading platform, will serve as the structuring and execution agent, ensuring a compliant and efficient transaction process. This collaboration represents a significant innovation in the funding mechanism, allowing U Power to potentially secure capital without immediate equity dilution or conventional debt.
In a statement, Johnny Lee, CEO and Chairman of U Power, emphasized the collaboration’s role in accelerating the company’s mission of building a comprehensive and sustainable battery-swapping ecosystem. By leveraging IoTeX’s blockchain and AI capabilities, U Power aims to enhance the efficiency and effectiveness of its battery-swapping technology.
