Tekcapital (LSE:TEK), the UK intellectual property investment group, has taken a 51% equity interest in newly incorporated US company Vesari to commercialise generative AI and geothermal data-centre IP developed by Executive Chairman Dr Clifford Gross.
Tekcapital Europe will hold 51% of Vesari's common stock for no cash consideration, Dr Gross will hold 49%, and the underlying intellectual property is expected to comprise eleven patent applications that will be assigned to Vesari upon filing.
"By co-locating AI compute directly with geothermal power generation, behind the meter, and connecting it via LEO satellites, we believe, that if successful, Vesari can enable more efficient, 24/7 carbon-free compute capacity," Louis Castro said.
An Independent Committee of non-executive directors reviewed and unanimously approved the transaction with Dr Gross recusing himself, describing the structure as a capital‑light entry into a strategically important sector.
Tekcapital says it expects the majority of Vesari's future funding to come independently of Tekcapital, while retaining rights to participate in future rounds if it holds at least 20% and to appoint a director or observer under those conditions.
