Avant Technologies Enters Binding LOI to Purchase Dozens of High-Performance, Immersible, AI-Powered Servers
June 05 2024 - 8:00AM
InvestorsHub NewsWire
LAS VEGAS, NV -- June 5, 2024 --
InvestorsHub NewsWire -- Avant Technologies, Inc. (OTCQB:
AVAI) (“Avant” or the “Company”), a leader in artificial
intelligence (AI) technology company specializing in cutting edge
AI and data center infrastructure solutions, today announced
it has entered into a Binding Letter of Intent (“BLOI”) with
Florida-based Flow Wave, LLC (“FW”), a pioneer in immersible
computer server development. This agreement paves the way for Avant
to acquire up to 50 state-of-the-art high-performance immersible
computer servers from FW in a deal valued at $50 million.
This transaction, subject to a
mutually satisfactory definitive agreement (“Definitive
Agreement”), signifies a major leap forward for Avant as it expects
to lead the way in providing distributed submerged infrastructure
solutions. With a commitment to innovation and sustainability, this
acquisition of up to 50 high-performance immersible computer
servers allows Avant to address the complex challenges of the
digital era with cutting-edge solutions.
Flow Wave’s Immersion-as-a-Service
computer servers utilize state-of-the-art immersion cooling
technologies, which significantly enhances compute performance and
energy efficiency. Flow Wave’s innovative approach addresses the
growing demands for higher processing power and sustainability in
the data center industry. The partnership with Flow Wave aligns
perfectly with Avant’s commitment to enabling top-tier AI
infrastructure solutions and optimizing operational
efficiencies.
Key Features of Flow Wave
Immersible AI Supercomputer Servers:
- Unparalleled Compute Performance: Designed to handle intensive
AI and machine learning workloads. These servers offer superior
processing power, which allow for faster and more efficient data
analysis.
- Power Consumption Efficiencies: Immersion cooling technology
reduces the energy consumption required for cooling, leading to
substantial cost savings and a smaller carbon footprint.
- Compact Physical Design: Immersible servers are compact and
sleek, making them ideal for AI data centers with limited floor
space or those seeking to optimize their existing infrastructure.
The compact design also reduces the overall weight and size of the
server, making it easier to transport and install.
- Enhanced Reliability: The immersible design improves hardware
longevity and reliability, reducing downtime and maintenance
costs.
“Avant's revolutionary AI software
platform is poised to transform the landscape of data center
management,” said William Hisey, Avant’s Chief Executive Officer.
“By integrating proprietary machine learning algorithms with
open-source innovations into those servers, Avant is developing a
highly intelligent system designed to optimize resource allocation,
enhance performance, and drive unprecedented levels of efficiency
and automation. This marks the beginning of a new era for Avant
Technologies, positioning us at the forefront of the
supercomputer-driven data center industry and setting new standards
for managing and storing AI applications.”
The Company expects to announce
additional details regarding the proposed acquisition when a
definitive agreement is executed.
About Avant Technologies,
Inc.
Avant Technologies, Inc. is at the
forefront of AI innovation, specializing in the development and
deployment of advanced data processing solutions. With a focus on
pushing the boundaries of what is possible in AI and machine
learning, Avant Technologies serves a diverse range of industries,
driving progress and efficiency through state-of-the-art
technology.
About Flow Wave,
LLC
Flow Wave, LLC, through its
innovative Immersion-as-a-Service offering, is a leading developer
of next-generation server technologies, dedicated to enhancing the
performance and sustainability of data centers worldwide. By
leveraging immersion cooling and other innovative approaches, Flow
Wave aims to revolutionize the way data centers operate, offering
solutions that meet the growing demands for computational power and
environmental responsibility.
More information about Avant
Technologies can be found at https://avanttechnologies.com
You can also follow us on social
media at:
https://twitter.com/AvantTechAI
https://www.linkedin.com/company/avant-technologies-ai
https://www.facebook.com/AvantTechAI
https://www.youtube.com/@AvantTechAI
Forward-Looking
Statements
Certain statements contained in
this press release may constitute “forward-looking
statements.” Forward-looking statements provide current
expectations of future events based on certain assumptions and
include any statement that does not directly relate to any
historical or current fact. Actual results may differ materially
from those indicated by such forward-looking statements because of
various important factors as disclosed in our filings with the
Securities and Exchange Commission located at their website
(http://www.sec.gov). In addition to these factors,
actual future performance, outcomes, and results may differ
materially because of more general factors including (without
limitation) general industry and market conditions and growth
rates, economic conditions, governmental and public policy changes,
the Company’s ability to raise capital on acceptable terms, if at
all, the Company’s successful development of its products and the
integration into its existing products and the commercial
acceptance of the Company’s products. The
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect
to update these forward-looking statements at some point in the
future, the Company specifically disclaims any obligation to do
so. These forward-looking statements should not be
relied upon as representing the Company's views as of any date
after the date of the press release.
Contact:
Avant Technologies, Inc.
info@avanttechnologies.com
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