CYCE Project Got a New Investment

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The crypto currency sector has achieved incredible growth around the world. Turkey has also started to take a large share of this growth. However, there is still no clear regulation regarding this issue in Turkey.

Recently, it drew attention that many leading figures of the sector participated in the talks held at the Turkish Assembly. During these negotiations, CYCE project officials involved in the meeting led to a reaction from the crypto community. Nonetheless, CYCE project continues to invest in renewable energy sources and electric vehicle charging stations as a solution to global warming.

According to a statement from the company's Twitter account, CYCE has signed the necessary agreements with Bayburt Governorate on land allocation for the reactor production facility of charging stations by receiving an investment worth ₺300M (USD 20M).

CYCE, which set out to reduce carbon emissions and stop global warming, allegedly recently received this large amount of investment at the helm of the Central Bank of the Republic of Turkey. CYCE team expressed their special thanks to Sahap Kavcioglu, Cuneyt Epcim and Ihsan Aktas, Chairman of the Board of Directors of GENAR Research.

The news was shared by many users on Twitter and later confirmed personally by the Governor of Bayburt. The company has announced that, with this investment, they will start establishing a new facility in Bayburt.

Following these developments, Turkish President Recep Tayyip Erdogan announced a support package worth ₺300M (USD 20M). for super-fast charging stations in a statement. The President also held a teleconference meeting with Elon Musk 1 month ago