It follows a new round of investment which will enable it to help cities update and expand their public lighting systems and use them to roll out further smart city applications.
Smart city infrastructure company High-Trend International (HTI) is expanding its operations across Brazil and the rest of South- and Central America following investment from The Phoenix Fund (TPF).
HTI will use the new capital to pursue new partnerships with municipalities in Brazil to help cities update and expand their public lighting systems. The updated lighting systems will also serve as a platform for greater wireless connectivity and smart city technology.
HTI was founded by leaders from the smart city, telecom and infrastructure industries, including a former Telefonica CEO and founder of a smart city developer in Asia.
It joined forces with leading Brazilian public lighting firm Light & Technology to form High-Trend Brazil. It will extend its operations through this joint venutre.
HTI was recently awarded a 20-year concession with the city of Rio de Janeiro to update the public lighting system and install smart city technology throughout the city.
The city’s existing infrastructure includes more than 440,000 public lighting points and a fibre backbone. HTI has been contracted to install 10,000 HD cameras, 5,000 wi-fi hotspots, 6,000 traffic management nodes and 4,000 sewer system sensors as well as a command centre.
“Rio de Janeiro now becomes among the leading cities of the world, embracing the efficiency, connectivity and environmental stewardship of the smart city technology”
“Through our partnership with HTI, The Phoenix Fund strives to become a bridge between the Americas from Puerto Rico with our strategic investment in Brazil,” said Francisco Rivera, principal at TPF.
“Rio de Janeiro now becomes among the leading cities of the world, embracing the efficiency, connectivity and environmental stewardship of the smart city technology.”
The Phoenix Fund is a Puerto Rico-based private equity fund with over $100m in assets under management, that seeks to invest in income-producing private companies.
TPF’s current portfolio consists of companies in industries that include telecommunications, pharmaceutical manufacturing, insurance, and large-scale mixed-use real estate, among others.
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