Arcario

In February 2023, Arcario and COWA began exploring opportunities for collaboration. As discussions progressed, the parties recognized the strong synergies between their respective businesses and the considerable potential to jointly advance on multiple strategic initiatives. After thorough evaluation, they mutually agreed that forming a strategic partnership would be the most effective approach to capitalize on these opportunities at this stage.

Torbjørn Bull Jenssen, CEO of Arcario, commented, "We are pleased to join forces with COWA in this strategic partnership. By leveraging our combined expertise and resources, we will drive innovation and growth within the digital assets and web3 space, creating greater value for shareholders and capitalizing on the advantages of our collaborative efforts."

Both Arcario and COWA are committed to eco-friendly web3 data center infrastructure services powered exclusively by renewable energy. By joining forces, the companies plan to examine the feasibility of developing high-performance computing (HPC) offering to address the increasing demand for AI-powered web3 applications.

In addition, Arcario and COWA have cultivated diverse venture portfolios that span the entire web3 ecosystem. As strategic partners, the firms will cooperate on future venture deals and exchange deal flow information, further solidifying their presence in the digital assets and web3 arena.

Moreover, the collaboration will afford Arcario's subsidiary and trading division, K33, exclusive access to a top-tier Swiss brokerage for asset management distribution, courtesy of COWA's parent company, LIAN Group. This access enhances K33's ability to deliver bespoke financial services to some of its clients and expand its reach within the competitive asset management market.

The alliance between Arcario and COWA underscores the escalating significance of digital assets and the web3 ecosystem in today's global economy. By pooling their resources and expertise, both companies are well-positioned to foster innovation and expansion within the industry.

For more information, please contact Arcario AB's IR team at ir@arcario.com or visit ir.arcario.com.

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The information disclosed in this press release is information that Arcario AB to is obliged to publish pursuant to the EU Market Abuse Regulation (MAR). This information was submitted for publication through the agency of the CEO at 22 May 2023 08:00 CEST.