• Home
  • News
    • Agriculture
    • Aviation & transport
    • Arts & Entertainment
    • Business & Finance
    • Conferences & Seminars
    • Cryptocurrency
    • Economy
    • Education
    • Forex & Commodities
    • Manufacturing & Industry
    • Media
    • Oil & Energy
    • Pharma & Health
    • Politics
    • Real Estate & construction
    • Sports
    • Stock Markets
    • Telecom & Tech
    • Travel & Tourism
  • Europe
  • Middle East
  • Africa
  • Press
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
Submit PR
Search
Close
Search
Close
Home Europe

Is SkyWay the promised tech Utopia it promises to be

admin by admin
December 8, 2021
in Europe
Share on FacebookShare on Twitter
The public needs to be cautious before investing in SkyWay.

Dubai, UAE – (Arab Newswire) –  SkyWay, a second-level transport technology company referred to String Transport consists of the movement of driverless vehicles on sleeperless tracks elevated above the ground on concrete supports. The Skyway technology was developed by Belarusian engineer Anatoly Eduardovich Unitsky in 1980. The company has been under development for the last 38 years but is yet to see a commercial project materialize. Although, the technology has been written and spoken about in many countries. In 2001 a prototype of a SkyWay track was constructed in the Russian village Ozyory in Moscow Oblast. The allowable load on this track was tested there using a truck with iron wheels. A prototype was assessed in Russia in 2008 by the Moscow State University of Railway Engineering concluding that it was “not viable and unsafe”.

In October 2015 the SkyWay Group started constructing a test site to demonstrate ‘SkyWay’ technology. It is situated in Marjina Horka (about 70 km from Minsk) and is called the EcoTechnoPark. In 2016, a Russian government panel that evaluated the technology called it innovative, but only in theory. A prototype of the technology reached speeds of 102 kilometres per hour in 2017 against the promised 500 kilometres per hour.

SkyWay Group consists of numerous subsidiaries. The SkyWay Group deals with construction of the technology through numerous subsidiaries. SkyWay Group of Companies controls SkyWay Capital which was launched in 2014 to self-finance the projects. They also own and control other companies like “SWIG International Ltd.” registered in London and “SkyWay Capital Inc.” which is registered in Saint Lucia. These companies function to collect funds for SkyWay projects.

Established in Belarus, operated from an office complex in Minsk and registered under business names including “Euroasian Rail Skyway Systems Holding Ltd.”, “First SkyWay Invest Group Limited” and “Global Transport Investment Inc.” in places like the British Virgin Islands, London and Saint Lucia. It has been documented that companies in the SkyWay Group seek potential investors all over the world for the development of an elevated rail transport technology they refer to as SkyWay.

The SkyWay Group consists of numerous subsidiaries to further the construction of the technology. SkyWay Capital was launched in 2014 along with a few other companies to collect funds for SkyWay projects. They seek potential investors from all over the world for the development of the rail transport technology referred to as SkyWay. To raise funds, the company started MLM affiliate programs.

The SkyWay Group markets itself primarily by promoting investment in its technology to small investors. SkyWay Group seeks investors through its website and social media. The SkyWay Group have been seeking potential investors all over the world using various forms of marketing such as crowdfunding, telemarketing and multi-level marketing. The company “Sky Way Invest Group Limited” also launched financial training courses for a fee which it marketed as ‘Educational Investment Packages’ (EIPs). CONSOB, the Italian financial regulatory agency, banned the sale and advertisement of these investment products in February 2018 because it turned out instead of receiving the “investment training courses” advertised, customers unwittingly ended up with “gift certificates” that could later be converted to company shares on the occasion of its IPO. However, financial regulators in Germany, Lithuania and 13 other countries have banned the sale of financial products from SkyWay or warned the public about a potential scam.

Although countries like Australia,India, Indonesia, Italy and Lithuania  started negotiating with the SkyWay Group, they were later cancelled or postponed due to concerns about safety and financial irregularity. Projects are being realized in Belarus and in the United Arab Emirates. The most recent negotiations have taken place in the United Arab Emirates.

Regulators in Lithuania and Latvia have warned investors about SkyWay not being authorized to issue shares in the respective countries. In February 2018 the Italian regulatory agency CONSOB prohibited the advertisement and sale of certain SkyWay investment products to Italian citizens. In May 2019 the German regulatory agency BaFin prohibited the public offering of SkyWay investment products to the general public. In August 2019 the Financial markets Authority (FMA) of the New Zealand reiterated warning about potential Skyway Capital/SWIG scam.

Concerns have been raised in published articles about information the company has posted about itself to promote investment. These concerns include the unrealistic returns promised to investors, the value of its intellectual property, awards it has won, excessive pre-order contracts, and people/organisations who have invested in the company.

Lastly, the public needs to be cautious before investing in SkyWay and documents need to be verified well before investing.

Contact Info:

Jay N.

Jay@jefferiesandbain.com

www.jefferiesandbain.com

+91 9768123923

Source:

https://en.wikipedia.org/wiki/SkyWay_Group

https://www.financemagnates.com/forex/regulation/new-zealands-fma-adds-skyway-capital-to-its-warning-list/https://bnn-news.com/genuine-investment-project-boondoggle-scheme-lithuania-national-security-threat-119828



###

This press release was issued through Arab Newswire™ https://arabnewswire.com, a newswire service with press release distribution to media in the Arab World, Middle East and North Africa (MENA).

Previous Post

Tips to Find the Best Personal Loan in the UAE

Next Post

UAQ Free Trade Zone Spotlights Entrepreneur in a Day Programme at the AIBC Summit

RelatedPosts

Europe

According to a new scientific review conducted by the Center for Molecular Oncology at the University of Connecticut

Including walnuts in a healthy diet could be a simple strategy to improve health and reduce the risk...

by admin
August 16, 2023
Europe

وفقًا لمراجعة علمية جديدة أجراها مركز علم الأورام الجزيئي بجامعة كونيتيكت

يمكن أن يكون إدراج الجوز ضمن نظام غذائي صحي بمثابة استراتيجية بسيطة لتحسين الصحة وتقليل مخاطر الإصابة بالسرطان...

by admin
August 16, 2023
Europe

Reasons to Convert Credit Card Transactions into Easy Installment Plans » Press Release Distribution to Europe – Newswire Service

Facebook Twitter Pinterest WhatsApp LinkedIn Email Reddit DUBAI, UAE – (ARAB NEWSWIRE) – Big-ticket purchases made by tapping...

by admin
August 16, 2023
Europe

Citibank – Why One Should Open a Citi Personal Account? » Press Release Distribution to Europe – Newswire Service

DUBAI, UAE – (ARAB NEWSWIRE) – Holding multiple accounts to manage personal funds and perform banking activities from...

by admin
August 16, 2023
Load More

Latest Post

US, Norway to launch Africa agriculture fund, commit $70 million – Marketscreener.com

by admin
September 18, 2023

US, Norway to launch Africa agriculture fund, commit $70 mln – Nasdaq

by admin
September 18, 2023

Research Scholar Presents Paper at 8th International Forum on Asia and Middle East – India Education Diary

by admin
September 18, 2023

Analysis: Europe's Wind Industry Calls for Support Amid Mounting … – The Wall Street Journal

by admin
September 18, 2023

Firm organises global roundtable to facilitate SDGs in Africa – The Nation Newspaper

by admin
September 18, 2023

EMEAWIRE™ provides press release distribution services for businesses, organizations and other entities with the need to reach media outlets in Europe, Middle east and Africa (EMEA) Submit press release or contact us today.
Share us

Subscribe to Our Newsletter

    • Home
    • News
      • Agriculture
      • Aviation & transport
      • Arts & Entertainment
      • Business & Finance
      • Conferences & Seminars
      • Cryptocurrency
      • Economy
      • Education
      • Forex & Commodities
      • Manufacturing & Industry
      • Media
      • Oil & Energy
      • Pharma & Health
      • Politics
      • Real Estate & construction
      • Sports
      • Stock Markets
      • Telecom & Tech
      • Travel & Tourism
    • Europe
    • Middle East
    • Africa
    • Press
    • About Us
      • Press Release Distribution Services
      • Submit Press Release
      • Contact Us
    Menu
    • Home
    • News
      • Agriculture
      • Aviation & transport
      • Arts & Entertainment
      • Business & Finance
      • Conferences & Seminars
      • Cryptocurrency
      • Economy
      • Education
      • Forex & Commodities
      • Manufacturing & Industry
      • Media
      • Oil & Energy
      • Pharma & Health
      • Politics
      • Real Estate & construction
      • Sports
      • Stock Markets
      • Telecom & Tech
      • Travel & Tourism
    • Europe
    • Middle East
    • Africa
    • Press
    • About Us
      • Press Release Distribution Services
      • Submit Press Release
      • Contact Us

    Browse by Category-

    Home

    Europe

    Middle East

    Africa

    Global

    News

    -Agriculture

     – Arts & Entertainment

    — Aviation & transport

    — Business & Finance

    — Conferences & Seminars
    — Cryptocurrency
    — Economy
    — Education
    — Forex & Commodities
    — Manufacturing & Industry
    — Media
    — Oil & Energy
    — Pharma & Health
    — Politics
    — Real Estate & construction
    — Sports
    — Stock Markets
    — Telecom & Tech
    — Travel & Tourism

    About Us

    -Pr Services
    -Submit PR
    -Contact Us

    © 2023 Copyright EMEAWIRE™

    Share us

    Share on facebook
    Facebook
    Share on twitter
    Twitter
    Share on linkedin
    LinkedIn
    Share on pinterest
    Pinterest