Solidus strike gold with €100m contract and partnership with Microsoft

LONDON, Aug. 27, 2020 /PRNewswire/ -- The World as we know it is forever and progressively evolving, and thus has become more reliant on technology for our day to day living. Solidus Technologies has set out to become an industry leader in both Artificial Intelligence (AI) and Blockchain technology. Together, they have shown great promise in the ways in which they will shape our future in the coming years. Solidus Technologies research and development facility is focusing heavily on new processes, algorithms and propriety technology to add to their current Intellectual Property (IP). This includes an open-source code which optimises the efficiency of the hardware allowing it to perform faster while consuming less electricity, ultimately meaning more profit for the company. 

Solidus Technologies have enhanced their revenue streams by diversifying into the AI & High Powered Computing (HPC) sectors. Although Solidus have always stated to be working in Blockchain and AI, the previous hardware was specifically used for mining the #2 digital currency Ethereum (ETH). The value of the currency has more than doubled over the last few months however the management team has decided that moving forward the new hardware to be solely utilised for AI and HPC requirements.

The move to AI was a bold strategic decision to implement and within 4 weeks of deciding to make the jump to AI Solidus gained an official partnership with Microsoft. The partnership aims to utilise the infrastructure on the Microsoft Azure platform integrated with Microsoft Cognitive Services which will allow developers to create applications that can see, hear, speak, understand, and even begin to reason. Microsoft Azure (formerly Windows Azure), is a public cloud computing platform providing a range of cloud services including storage, compute, analytics, and networking. Businesses can pick and choose from these services as required, to develop and scale new applications, or run existing applications in the public cloud. Many businesses see this 'serverless / no-hardware' approach as futuristic and a key driver towards becoming a modern workplace.

Director Scott Cannon said "I am really excited that we chose to make the move into this sector. The global artificial intelligence market was valued at £30 billion in 2019 and is expected to grow at a compound annual growth rate of 42.2% over the next 5 years. With our continuous research and innovation, we always planned on working more heavily in AI as technology has always been an essential element but AI has now brought technology to the center of Bluechip organisations. With the way the world is moving towards AI it is definitely the right time and I think you only need to look at any technology stock performance throughout this pandemic for this to be justified."

Solidus now have the opportunity to significantly improve their cashflow and revenue streams having recently signed a new agreement with Optoelectronica who have also expressed interest in using the HPC infrastructure of Solidus to process their current and future government contracts. The current contract could be worth up to €100 million if the company decide to use 12,000 GPUs for the duration of the 5-year contract. Solidus will keep their options open due to Microsoft and other contract negotiations.

Optoelectronica was established in 2001 to promote excellence in research and development by providing quality certified products and services in optoelectronics and is currently owned by Adrian Stoica who is the Head of Mining Operations at Solidus Technologies and Director of Joint Venture partners Soft Galaxy.

They specialise in:

• Optoelectronic equipment development for industrial, medical and military applications
• Laser devices and laser technologies
• Security systems (false document identification and biometry)
• Micro-optics and nano-optics technologies
• Computer Vision and Artificial Intelligence
• Autonomous vehicles and Smart sensors

Adrian Stoica has said "we have designed the High Performance Computing (HPC) Data Centre infrastructure to run algorithms highly efficiently. The core of our business is to ensure reliability and security to our clients in a cost-effective and environmentally friendly solution. Our safe, secure and sustainable computing environment is the perfect solution for anyone prioritising climate goals and carbon targets as we aim to utilise evaporating air cooling technology.

"Evaporating cooling uses 80% less electrical energy when compared to air conditioning units and eliminates fumes whilst improving air quality. Evaporative cooling is an example of effective non-polluting technology that offers numerous advantages over compressor air conditioning. It produces lower energy consumption which is similar to a fan and estimated at close to 80% less when compared to compressor air conditioning. Furthermore, it does not use coolant gases so it is ecological and can be used in open spaces without the need to close doors or windows.

"High Performance Computing (HPC) already consumes large portions of the World's energy where the air-cooling solutions consume up to 30-40% of the total energy so we are extremely proud that that we are able to deploy highly efficient energy saving solutions."

Solidus Technology is actively seeking further contracts or letters of intent from other organisations to utilise their processing power for HPC and AI needs.

To find out more about Solidus Technologies please contact [email protected] or visit our website at www.solidustechnologies.co.uk

SOURCE Solidus Technologies

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