SINGAPORE (BLOOMBERG) - Technology start-up investor Vickers Venture Partners has been caught up in the allegedly fraudulent nickel trading scheme of a Singaporean businessman and his Envy Global Trading, prompting a review by the Monetary Authority of Singapore (MAS).
Vickers would be the highest-profile investor yet to have fallen victim to the suspected billion-dollar swindle, which Singapore authorities have said could be the biggest investment fraud the financial hub has ever seen. The alleged mastermind, Ng Yu Zhi, has been charged with a range of suspected crimes from faking the purchase and sale of nickel to falsifying transfers from Citibank and account statements that showed millions in funds.
SINGAPORE (May 6): Technology startup investor Vickers Venture Partners has been caught up in the allegedly fraudulent nickel trading scheme of a Singaporean businessman and his Envy Global Trading, prompting a review by the city-state’s monetary authority.
Vickers would be the highest-profile investor yet to have fallen victim to the suspected US$740 million swindle, which Singaporean authorities have said could be the biggest investment fraud the financial hub has ever seen. The alleged mastermind, Ng Yu Zhi, has been charged with a range of suspected crimes from faking the purchase and sale of nickel to falsifying transfers from Citibank and account statements that showed millions in funds.
SINGAPORE (Bloomberg) Technology startup investor Vickers Venture Partners has been caught up in the allegedly fraudulent nickel trading scheme of a Singaporean businessman and his Envy Global Trading, prompting a review by the city-state’s monetary authority.
Vickers would be the highest-profile investor yet to have fallen victim to the suspected US$740 million swindle, which Singaporean authorities have said could be the biggest investment fraud the financial hub has ever seen.
The alleged mastermind, Ng Yu Zhi, has been charged with a range of suspected crimes from faking the purchase and sale of nickel to falsifying transfers from Citibank and account statements that showed millions in funds.
Geothermal technology has enormous potential to power the planet and Fervo wants to tap it
Tapping the geothermal energy stored beneath the Earth’s surface as a way to generate renewable power is one of the new visions for the future that’s captured the attention of environmentalists and oil and gas engineers alike.
That’s because it’s not only a way to generate power that doesn’t rely on greenhouse gas emitting hydrocarbons, but because it uses the same skillsets and expertise that the oil and gas industry has been honing and refining for years.
At least that’s what drew the former completion engineer (it’s not what it sounds like) Tim Latimer to the industry and to launch Fervo Energy, the Houston-based geothermal tech developer that’s picked up funding from none other than Bill Gates’ Breakthrough Energy Ventures (that fund… is so busy) and former eBay executive, Jeff Skoll’s Capricorn Investment Group.
Energy majors bp and Chevron back start-up focused on geothermal energy
Eavor says its technology differs from other forms of geothermal in that it is a scalable ‘go anywhere’ solution, harvesting geothermal heat to generate dispatchable power with zero emissions
Image: Eavor Technologies
Canada-based start-up Eavor Technologies, that is focused on geothermal energy, has announced a $40 million (£29m) funding round that included participation from global energy majors bp and Chevron.
The Eavor-Loop technology uses natural heat of the earth like a giant rechargeable battery, with fluids heating by the earth and circulated in a closed network of underground well bores, unlocking a reliable and consistent energy source.