SkyWay Group
SkyWay Group is a group of companies that market, finance, and construct a system for elevated rail transport.
Overview
The SkyWay Group technology is referred to as "string transport" and involves the movement of driverless vehicles on sleeperless tracks elevated above the ground on concrete supports. The "strings" are a bundle of prestressed tensioned steel wires placed in a concrete-filled body. The SkyWay technology has been marketed as a new type of elevated light rail transportation system.SkyWay has been designed to transport passengers and cargo. Yunitskiy claims his vehicles can reach speeds of up to 500 kilometers an hour and are reported to cost 20 percent less than normal subways. It is also claimed that this technology involves minimal gas and particle emissions. SkyWay claims that its small transport units with variable passengers capacity can travel safely at intervals of only 2 seconds, thus providing a transport capacity of up to 50,000 passengers per hour.
History
Anatoly Yunitskiy is the inventor of SkyWay technology and is also the founder, the director and the main shareholder of companies in the SkyWay Group. He designed the technology in 1980 as a system of passenger and cargo capsules that travel by cable car.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. This site was later deconstructed. 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 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 kilometers per hour in 2017. In August 2018 at the EcoFest event, there were three tracks demonstrating prototypes at this site. One is for a vehicle with a maximum capacity of 48 people. The second track is for a 14-seater vehicle and the third is for a 6-seater vehicle.
Operations
Company structure
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.
Marketing
In addition to demonstration models at the EcoTechnoPark in Belarus, the company has exhibited its technology at trade fairs like the 3rd Singapore International Transport Congress and Exhibition. 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. It has also been documented that the SkyWay Group promote their technology with paid advertising on television and in newspapers, and that financial services are being offered via social media.
The company "Sky Way Invest Group Limited" also launched financial training courses for a fee which it marketed as 'Educational Investment Packages'. 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.
Negotiations
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.The SkyWay Group started negotiating with countries like Lithuania, Australia, Slovakia, India, Italy and Indonesia.
Lithuania
The municipality of Siauliai in Lithuania signed an investment agreement with SkyWay in 2014. The mayor of Siauliai was later criticized for negotiating with the SkyWay Group and at the end of 2014 he was instructed to cancel the negotiations. In 2014, the Bank of Lithuania released an official statement warning investors of SkyWay. An investigation by the country's Prosecutor General's office found no evidence to prosecute the company. A subsequent lawsuit by SkyWay against the Lithuanian government was dismissed in 2018.Australia
In 2016 in South Australia, SkyWay negotiated with Flinders University to build a 500 meter long line for $13 million Australian dollars under the direction of ex-state transport minister Rod Hook who worked for SkyWay as an infrastructure consultant. These negotiations were eventually postponed indefinitely in August 2018, as they opted for driverless busses instead.Slovakia
In July 2016 SkyWay signed a Memorandum of Understanding with the Slovak University of Technology in Bratislava to promote SkyWay technology in Slovakia.India
In May 2017 a Memorandum of Understanding was signed by the minister of Urban Development of the Northern Indian state Himachal Pradesh with SkyWay Group. The minister who negotiated with SkyWay was criticised for doing so "without following proper procedures" Critics also questioned why an agreement was signed with a company that had no operational projects, and for the suitability of the technology to be used in the region. As a result, negotiations in India have been postponed.Indonesia
In September 2017 a Memorandum of Understanding was signed with the University of Indonesia in West Java to build on-campus 'sky trains'.In December 2017 a Memorandum of Understanding was signed in Jakarta for a proposed project in Kalimantan.
In February 2018 a Memorandum of Understanding was signed with the Gadjah Mada University in Central Java to promote research and innovation in the field of transportation.
Members of the Indonesian public complained about the suspicious sale of investment products and the OJK added SkyWay Capital to its list of prohibited companies. As a result all negotiations in Indonesia were finally cancelled or postponed and the activities of the Indonesian subsidiary "PT SkyWay Technologies Indonesia" were frozen.
Italy
In early 2018 negotiations took place in Italy. The Secretary of State for the Republic of San Marino signed a Memorandum of Understanding at the EcoTechnoPark in Belarus in March 2018 for the construction of the San Marino-Rimini line. The mayor of the Sicilian city Messina also used SkyWay's "flying trams" to promote his electoral campaign. Both negotiations were postponed or cancelled because of concerns brought up in local politics and by the Italian regulatory agency Commissione Nazionale per le Società e la Borsa.In March 2019, Brianza - a region in North-West Lombardy, Italy - invited SkyWay to present a feasibility project for a cable car between Cologno Monzese and Vimercate. Due to controversy surrounding the company these negotiations have been postponed.
United Arab Emirates
In October 2018 an investment agreement was signed between the SkyWay Group and Sharjah Research Technology and Innovation Park in the United Arab Emirates and 25 hectares was allocated to build a SkyWay test-site there.In February 2019 a Memorandum of Understanding was signed by the Roads and Transport Authority of Dubai with the "Skyway Greentech Company" to develop 'sky pods' there.
In April 2019 the Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, approved a SkyWay suspended transit system that would have a length of 15 kilometres, consist of 21 stations and link vital spots in Dubai.
In November 2019 the Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Federal Supreme Council of the UAE and Ruler of Sharjah, witnessed the launch of the experimental phase of the SkyWay project for a hanging track transport system at the Sharjah Research Technology and Innovation Park.
Financial regulation
Regulators in Belgium, Lithuania, and Estonia have warned investors about SkyWay not being authorized to issues shares in the respective countries.In 2018 The International Organization of Securities Commissions released a number of warnings related to the activities of SkyWay Group companies such as "SkyWay Capital" and "Sky Way Invest Group".
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 of the New Zealand reiterated warning about potential Skyway Capital/SWIG scam.