NEW YORK, Nov. 22, 2023 /PRNewswire/ — Globtec Investment LLC, a leading global investment firm, announced today that it will divest its investments in green energy and redirect that capital to the development of artificial intelligence (AI).
This strategic shift by Globtec is a significant signal to the growing recognition of the transformative potential of AI. The company’s decision to divest from green energy investments in favor of AI development reflects its belief that AI represents the next frontier of innovation and offers immense potential to address global challenges and drive economic growth.
“We are committed to supporting the AI ecosystem and helping our customers capitalize on the opportunities it presents,” said Globtec CEO Murat Karabay. “We are convinced that our extensive experience in technology investments will enable us to identify and invest in the most promising AI companies. We are already in negotiations with two successful companies that are leading the market with their innovative technologies in the logistics and healthcare sectors in Turkey and Germany.”
The company’s investments in green energy have been an important source of returns for its clients. Currently, however, this sector is increasingly becoming a plaything of political interests. The result is constantly changing government subsidies and financing measures. Fluctuating subsidies, problems in the supply chain and significantly increased production and maintenance costs are unsettling investors. Added to this are high up-front costs for grid expansion, navigating complex regulations and lengthy approval procedures. Not only Globtec is reacting, but the ESG craze is also subsiding on Wall Street, with investors withdrawing more than 14 billion dollars from sustainable funds this year.
About Globtec Investment Group
Globtec Investment LLC was founded in 2005, for structuring and offering investment opportunities to the international market. Following rapid expansion and establishment, the company’s current focus is identifying investment opportunities in well-positioned, innovative companies charting new courses in high-performing industries, including artificial intelligence (AI) development and Bio-Technology. Globtec benefits from a strong and experienced management team with a successful record of engaging the international investment community. It develops investor-centric solutions and high-profile projects that expand and mature regional capital markets.
Globtec is headquartered in Washington, D.C., and has offices in New York, London, Geneva and Budapest. The company has additional resources, partnerships, and investors around the world.
SOURCE Globtec Investment LLC