SkyWay Group is an self-proclaimed investment group based in Minsk, Belarus.
In 2018, financial regulators in Germany, Lithuania, and five other countries warned that SkyWay "is not registered as a financial services provider and therefore, is not allowed to provide such services in their country," or warned the public about potential fraud the company was perpetrating.
Railway system
The SkyWay Group introduced investment opportunities for technology they referred to as "''string transport,''" which they claimed driverless, elevated
railcar
A railcar (not to be confused with a railway car) is a self-propelled railway vehicle designed to transport passengers. The term "railcar" is usually used in reference to a train consisting of a single coach (carriage, car), with a dri ...
s
would be "strings" traveling on prestressed tensioned steel wires placed in a concrete-filled body.
The technology was marketed as a new type of elevated
light rail transportation system where small transport units of up to 50,000 passengers per hour.
But in 2017, government officials raised doubts about the company's ability to actually execute construction of the system and was warning investors about potential untruths.
Their claims that the rail vehicles can reach speeds of up to 500 kilometers an hour, and that costs would be 20 percent less than normal rail-based subways, were never substantiated.
SkyWay also claimed that this technology produces minimal gas and particle emissions, which was never proven.
The transport technology was being tested at the ''SkyWay EcoTechnoPark'', located in Belarus, and at the ''SkyWay Innovation Centre'', located in the United Arab Emirates.
History
![String railway test track Ozyory](https://upload.wikimedia.org/wikipedia/commons/d/d6/String_railway_test_track_Ozyory.jpg)
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
The Russian University of Transport (RUT (MIIT); russian: «Российский университет транспорта», РУТ (МИИТ)), officially the Autonomous Educational Institution of Higher Education "Russian University of tran ...
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
Marjina Horka or Maryina Gorka ( be, Мар'іна Горка; russian: Марьина Горка; pl, Maryjna Górka) is a town in Minsk Region, Belarus, and the administrative center of Pukhavichy District. As of 2009 its population was 22,500 ...
(about 70 km from
Minsk
Minsk ( be, Мінск ; russian: Минск) is the capital and the largest city of Belarus, located on the Svislach and the now subterranean Niamiha rivers. As the capital, Minsk has a special administrative status in Belarus and is the admi ...
) 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. In August 2019 at the ''EcoFest'' event, guests were given rides on SkyWay vehicles.
In October 2018 the SkyWay Technologies reached an agreement with th
Sharjah Research Technology and Innovation Park (SRTIP)to build a test site at the facility for the project. The company launched an experimental phase of the suspended transport system and demonstrated a passenger pod on a 400 m long track in October 2019.
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
Belarus,, , ; alternatively and formerly known as Byelorussia (from Russian ). officially the Republic of Belarus,; rus, Республика Беларусь, Respublika Belarus. is a landlocked country in Eastern Europe. It is bordered by ...
, 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
)
, anthem = "God Save the King"
, song_type = Territorial song
, song = " Oh, Beautiful Virgin Islands"
, image_map = File:British Virgin Islands on the globe (Americas centered).svg
, map_caption =
, mapsize = 290px
, image_map2 = Bri ...
, 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
Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a p ...
technology they refer to as ''SkyWay''.
Marketing
![J33 712 Yunikar U4-430-T3](https://upload.wikimedia.org/wikipedia/commons/9/96/J33_712_Yunikar_U4-430-T3.jpg)
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 (SITCE). 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
Telemarketing (sometimes known as inside sales, or telesales in the UK and Ireland) is a method of direct marketing in which a salesperson solicits prospective customers to buy products or services, either over the phone or through a subsequen ...
and
multi-level marketing
Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial marketing strategy for the sale of products or services in which the revenue of the MLM company is derived from a non-salaried workforce selling th ...
.
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
Social media are interactive media technologies that facilitate the creation and sharing of information, ideas, interests, and other forms of expression through virtual communities and networks. While challenges to the definition of ''social medi ...
.
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
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
.
Negotiations
Although countries like
Australia,
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
,
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...
,
Italy
Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...
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 United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia ( The Middle East). It is located at t ...
.
The SkyWay Group started negotiating with countries like
Lithuania,
Australia,
Slovakia
Slovakia (; sk, Slovensko ), officially the Slovak Republic ( sk, Slovenská republika, links=no ), is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the s ...
,
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
,
Italy
Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...
and
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...
.
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
The Bank of Lithuania ( lt, Lietuvos bankas) is the central bank of the Republic of Lithuania. The Bank of Lithuania is a member of the European System of Central Banks. The chairman of the bank is Gediminas Šimkus. Until 2015, the Bank of Li ...
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
South Australia (commonly abbreviated as SA) is a state in the southern central part of Australia. It covers some of the most arid parts of the country. With a total land area of , it is the fourth-largest of Australia's states and territories ...
, SkyWay negotiated with
Flinders University
Flinders University is a public research university based in Adelaide, South Australia, with a footprint extending across 11 locations in South Australia and the Northern Territory. Founded in 1966, it was named in honour of British navigator ...
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
Slovak University of Technology in Bratislava (STU) ( sk, Slovenská technická univerzita v Bratislave) is the biggest and oldest university of technology in Slovakia. In the 2012 Academic Ranking of World Universities it was ranked in the fir ...
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
Himachal Pradesh (; ; "Snow-laden Mountain Province") is a state in the northern part of India. Situated in the Western Himalayas, it is one of the thirteen mountain states and is characterized by an extreme landscape featuring several peaks ...
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
The University of Indonesia ( id, Universitas Indonesia, abbreviated as UI) is a public university in Depok, West Java and Salemba, Jakarta, Indonesia. It is one of the oldest tertiary-level educational institutions in Indonesia (known as the Dut ...
in
West Java
West Java ( id, Jawa Barat, su, ᮏᮝ ᮊᮥᮜᮧᮔ᮪, romanized ''Jawa Kulon'') is a province of Indonesia on the western part of the island of Java, with its provincial capital in Bandung. West Java is bordered by the province of Banten ...
to build on-campus 'sky trains'.
In December 2017 a memorandum of understanding was signed in Jakarta for a proposed project in
Kalimantan
Kalimantan () is the Indonesian portion of the island of Borneo. It constitutes 73% of the island's area. The non-Indonesian parts of Borneo are Brunei and East Malaysia. In Indonesia, "Kalimantan" refers to the whole island of Borneo.
In 2019, ...
.
In February 2018 a memorandum of understanding was signed with the
Gadjah Mada University
Gadjah Mada University ( jv, ꦈꦤꦶꦥ꦳ꦼꦂꦱꦶꦠꦱ꧀ꦓꦗꦃꦩꦢ; id, Universitas Gadjah Mada, abbreviated as UGM) is a Public university, public research university located in Sleman Regency, Sleman, Yogyakarta (special region) ...
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 (the Indonesian financial regulatory agency) 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
Commissione Nazionale per le Società e la Borsa (CONSOB; Italian Companies and Exchange Commission) is the government authority of Italy responsible for regulating the Italian securities market. This includes the regulation of the Italian stock ex ...
(CONSOB).
In March 2019,
Brianza
Brianza (, , lmo, label= Brianzöö dialect, Briànsa) is a geographical, historical and cultural area of Italy, at the foot of the Alps, in the northwest of Lombardy, between Milan and Lake Como.
Geography
Brianza extends from the ...
- a region in North-West Lombardy, Italy - invited SkyWay to present a feasibility project for a cable car between
Cologno Monzese
Cologno Monzese ( lmo, label=Milanese, Cològn ) is a ''comune'' (municipality) in the Metropolitan City of Milan in the Italian region of Lombardy, located about northeast of Milan.
The population increased substantially after World War II, when ...
and
Vimercate
Vimercate (; lmo, label=Brianzöö, Vimercaa ) is a city and ''comune'' in the province of Monza and Brianza, Lombardy, northern Italy. It is from Milan and from Monza.
Its name (whose first finding dates back to the year 745) derives from t ...
. 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
The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia ( The Middle East). It is located at t ...
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 (RTA) of
Dubai
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...
with the "Skyway Greentech Company" to develop 'sky pods' there.
In April 2019 the
Sheikh Mohammed bin Rashid Al Maktoum
Sheikh Mohammed bin Rashid Al Maktoum ( ar, محمد بن راشد آل مكتوم, links=no; ; born 15 July 1949) is the vice president, prime minister, and minister of defence of the United Arab Emirates (UAE) as well as the ruler of Dubai. H ...
, 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
Sheikh Dr Sultan bin Muhammad Al Qasimi, member of the
Federal Supreme Council
)
, legislature =
, coa_pic = Emblem of the United Arab Emirates.svg
, session_room =
, house_type = Unicameral
, term_limits =
, structure2 =
, structure2_res =
, leader1_type = President
, le ...
of the UAE and ruler of
Sharjah
Sharjah (; ar, ٱلشَّارقَة ', Gulf Arabic: ''aš-Šārja'') is the third-most populous city in the United Arab Emirates, after Dubai and Abu Dhabi, forming part of the Dubai-Sharjah-Ajman metropolitan area.
Sharjah is the capital o ...
, 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, Estonia 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
The Federal Financial Supervisory Authority (german: Bundesanstalt für Finanzdienstleistungsaufsicht, Bundesanstalt für Finanzdienstleistungsaufsicht) better known by its abbreviation BaFin is the financial regulatory authority for Germany. It ...
prohibited the public offering of SkyWay investment products to the general public.
In August 2019 the
Financial markets Authority (FMA) of the
New Zealand
New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...
reiterated warning about potential Skyway Capital/SWIG scam.
Criticism
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/organizations who have invested in the company.
Particular criticism relates to misleading information about proposed SkyWay projects.
Onliner.by (a popular Belarusian news portal), for example, document that the claims SkyWay made about a proposed project in
Mogilev
Mogilev (russian: Могилёв, Mogilyov, ; yi, מאָלעוו, Molev, ) or Mahilyow ( be, Магілёў, Mahilioŭ, ) is a city in eastern Belarus, on the Dnieper River, about from the border with Russia's Smolensk Oblast and from the bor ...
were actually untrue.
Similar misleading promotion has been documented relating to proposed projects in Russia,
the Crimea
and India.
The first critical article by the publication ''Onliner'' by was released in September, 2016 and it was commenting on the EcoTechnoPark testing facility being built at the time in
Marjina Horka
Marjina Horka or Maryina Gorka ( be, Мар'іна Горка; russian: Марьина Горка; pl, Maryjna Górka) is a town in Minsk Region, Belarus, and the administrative center of Pukhavichy District. As of 2009 its population was 22,500 ...
.
Anatoly Yunitskiy sued them for damage done to his company and his reputation. Yunitskiy lost the case in June 2017 and was required to pay costs incurred by the defendant. He appealed unsuccessfully against this dismissal.
In May 2017 the ''Volzhskaya Kommuna'' newspaper published a critical article on their 'Volga News' information portal about a telemarketing campaign used for funding in
Samara
Samara ( rus, Сама́ра, p=sɐˈmarə), known from 1935 to 1991 as Kuybyshev (; ), is the largest city and administrative centre of Samara Oblast. The city is located at the confluence of the Volga and the Samara (Volga), Samara rivers, with ...
.
The company's representative Andrei Khovratov filed a lawsuit against the editorial board but in March 2018 the court decided against the plaintiff.
In July 2017 the popular Crimea news sender ''Primechaniya.ru'' published an article critical of a telemarketing campaign promoting investment in an unsupported SkyWay project in Sevastopol.
Later articles they published include information about legal threats issued by SkyWay employee Andrei Khovratov who represented SkyWay in the Crimea
and the unsuccessful litigation in Minsk and Samara.
See also
*
Automated guideway transit
An automated guideway transit (AGT) or automated fixed-guideway transit or automatic guideway transit system is a type of fixed guideway transit infrastructure with a riding or suspension track that supports and physically guides one or more dr ...
*
Crowdfunding
Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over was raised worldwide by crow ...
*
SkyTran
Skytran (stylized as skyTran) is a personal rapid transit system concept. It was first proposed by inventor Douglas Malewicki in 1990, and is under development by Unimodal Inc. A prototype of the skyTran vehicle and a section of track have be ...
*
Suspension railway
A suspension railway is a form of elevated monorail in which the vehicle is suspended from a fixed track (as opposed to a cable used in aerial tramways), which is built above streets, waterways, or existing railway track.
History
Experimental d ...
References
External links
rsw-systems.com
{{DEFAULTSORT:String Transport
Crowdfunding
Monorails
Proposed rail infrastructure
Rail transport