Global Transport Investments Inc. which owns the string transportation intellectual property presented the roadmap and vector for the final phase of its project. The stage includes a detailed plan for introducing transportation and infrastructure complexes based on string transportation technology to the global market. In addition, the "SkyWay Group Development Stages" document has been revised. The updated plans and development stages in the context of current global and economic realities are reflected below.
"Stages of SkyWay Group Development" (hereinafter referred to as Stages) is a document written at the very beginning of the work to create an organizational structure of scientific, design, engineering, manufacturing and other companies whose purpose is to develop and bring to the world market transport and infrastructure complexes. Their basis is the technology of string transportation.
The plan outlined in the Stages was drawn up on the basis of analytical studies, assessment of human and technological support needs, economic models and study of international experience of similar projects. The implementation of the Phases, neither at the beginning nor at any of the intermediate stages, had no sustainable guaranteed funding and no insurance against force majeure in the context of the long-standing systemic global crisis.
Therefore, it was impossible to assume that the algorithm outlined in the Stages would be implemented exactly as it was prescribed. On the contrary, it was initially envisaged that the sequence of steps, the content of the actions to be taken and the timing of implementation could be adjusted depending on various factors. In particular, the 2016 version of the Stages stated: "Each transition to a new stage is conditional on the completion of the planned scope of work and achievement of the planned indicators, as well as compliance with the project financing schedule”.
The timeframes outlined in the Stages for the implementation of the works defined in the program were adjusted in the course of implementation of the planned activities taking into account the significantly lower than necessary amount of funds available to the developer, as well as force majeure obstacles. Among the most significant force majeure events that adversely affected the project's growth dynamics were the COVID-19 pandemic and the ensuing global economic recession, as well as the political crisis associated with the tense geopolitical situation. These and other events affected the operational activities of the companies implementing the project and significantly slowed down many important business processes related to bringing solutions based on string transport technology to the market.
In spite of everything, most of the activities related to the development of solutions based on string transport technology were carried out within the timeframes originally specified in the Stages, and in some items the developers managed to achieve significantly more significant results than originally envisaged.
Rebranding of the Engineering Company
In 2020, after the product developed under the program by the developer's efforts had received its final form, the main brand under which the technology was launched to the market was revised. This marked the transition of the project from the "startup" stage to the "business" stage. The rebranding of the engineering company (developer) was carried out in the logic of returning to the terminological and technological origins. The new brand in English - UST Inc. (Unitsky String Technologies Inc., until 2020 - SkyWay Technologies Co.) - combines both the name of the technology that started it all and the surname of its author.
Plans for the Final Stage
The final stage was to be marked by completion of construction, testing and certification of the test complex of the high-speed system and creation of a sales showroom of complexes for high-speed (up to 500 km/h) transportation of passengers and cargo, conclusion of contracts for targeted projects of high-speed intercity and international routes, as well as receipt of advance payments (5%) totaling at least $500 million. This was to be followed by an IPO, receipt by shareholders of dividends on their shares and the possibility for shareholders to sell their shares at a market price close to the value of the shares at par.
Updates and Adjustments
For reasons beyond the developer's control, plans for the high-speed complex were not fully realized by the scheduled completion date of the development phases in 2018. The main factors that prevented this were insufficient funding and difficulties in obtaining permits in the Republic of Belarus for the construction of a test string-rail trestle of the required length (from 20 km) for pilot testing (including speed modes up to 500 km/h), demonstration of high-speed solutions and their certification. At the same time, the main part of project documentation in this area has been prepared within the planned timeframe. The remaining part of the work is the binding of the project to the documentation to the natural and climatic conditions and specific terrain of the area of construction of the high-speed transportation and infrastructure complex. The rolling stock was also created - an unmanned rail electric vehicle on uniflash (uFlash) steel wheels with unique aerodynamics capable of developing the required speed.
In the current situation, it was decided to shift the focus from high-speed systems to urban and suburban transportation in order to capitalize string transport technology as soon as possible. At the same time, an algorithm is being implemented to pay dividends to investors even before the completion of all work on the creation, testing and certification of the test complex of the high-speed system.
Priority (Generalized) Tasks of the Project until 2030
"The moment of transition to the final stage of bringing transport and infrastructure complexes based on string transport technology to the world market is timed to the start of operation of the first publicly accessible uST cargo and passenger complex in the territory of the Republic of Belarus and the launch of a demonstration and test complex with a 25-seat unimobile and a 2.5 km long semi-flexible heavy-duty overpass in the uSky test and demonstration center (Sharjah, UAE).
The named events are defined as crucial for the implementation of the project as a whole and business processes for a number of addressable projects:
- The start of operation of the publicly available complex, which has received the entire set of authorization documentation, finally removes all issues of regulatory support of the technology and gives the developer the fact of successful implementation of uST solutions to fulfill the practical tasks of the customer.
- Large-span and heavy-duty overpass with a 25-seat urban unimobile provides an opportunity to practically work out and demonstrate the parameters of uST complexes included in the feasibility studies, the work on which was performed within the framework of contracts for several commercial routes that are currently the most profitable.
The transition to the final stage of bringing transportation and infrastructure complexes based on string transportation technology to the global market involves the transfer of 1,000,000,000,000 shares at a discount ranging from 1:10 to 1:40.
The main plans for the final phase Envision:
The Company retains all previously announced commitments to investors, including the transfer of ownership of high-speed string-based technology. However, the amount of financing received for the entire project implementation period was lower than expected. This resulted in the share in the technology to be transferred to investors decreasing proportionately.
During the final phase, investors will retain the opportunity to invest in the project and increase their share in the string transportation technology, including uST's urban, suburban, freight and high-speed intercity solutions.
If all obligations to investors are fulfilled, the project reserves the right to complete the final stage earlier than planned and retain certain stakes in the technology.
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