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Formic Opens Oakland Facility, Anchoring Humanoid and Physical AI Expansion in the Bay Area Alongside Tesla and Amazon

Tesla

OAKLAND, Calif., August 26, 2026--Formic, a Full Service Automation provider for U.S. manufacturers, celebrated the grand opening of its new Oakland facility on August 19th. The company has taken over more than 13,000 square feet at 936 61st St., marking Formic's first West Coast location and its entry into the Bay Area, which is quickly becoming the center of gravity for physical AI, alongside efforts like Tesla's Optimus program and Amazon's Project Prometheus.

Hundreds of attendees joined Formic leadership for the celebration, including Oakland Mayor Barbara Lee. The opening builds on Formic's long-standing Bay Area presence, which has given the company access to deep manufacturing and engineering talent in the region. Formic will direct new capital toward accelerating humanoid deployment and expanding its automation fleet across the U.S. The Oakland facility strengthens that foundation, positioning the company to grow its presence with manufacturers throughout the region.

"In June, we expanded to a 53,000-square-foot production facility in Chicagoland. Less than two months later, we've set up our second robot factory and R&D center in the Bay Area," Saman Farid, Formic Founder and CEO, said. "Oakland offers a rare mix of robotics talent and early adopters of automation in the manufacturing space, and we're in good company alongside the new Tesla and Amazon facilities also driving forward progress in physical AI."

A Historic Opportunity for American Manufacturing

Formic was founded on the belief that technology should serve the industries that need it most. American manufacturing businesses feed us, clothe us, house us, and build the things we rely on every day. Formic is working to make robots available to those businesses and to create abundance for the communities they support.

"That front line worker is our most valuable asset out there," Patrick Henson, General Manager at Masters Gallery Foods Willows, said during the opening event. "We have to protect them, and automation is the way to do it. We are going to move them to a role where they feel more valued. If you aren't automating yet, you better start thinking of it, because it's where the world is going. And Formic is ahead of it."

Formic's Oakland facility is one piece of a larger footprint still to come, with plans to expand into regions beyond the Midwest and West Coast.

Humanoids at the Center of Formic Expansion

Where Bolingbrook marked the scale of Formic's flagship robotic fleet, from palletizing to machine tending, Oakland marks the company's next chapter: humanoid development.

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  2. FinanceOpenWorld (NASDAQ: OPNW) Signs Term Sheet to Finance and Operate a Solar-Powered AI Computing Network Built on Tesla Powerwall BatteriesCompanies: TeslaOpenWorld, Inc. ("OpenWorld" or the "Company") (NASDAQ: OPNW), an innovation company advancing global real-world asset ("RWA") tokenization, today announced that it has entered into a non-binding term sheet with Meridian to establish a tokenized financing program of up to $[1] billion to fund the purchase and deployment of a distributed AI computing network powered by solar energy and Tesla Powerwall battery storage. Under the term sheet, OpenWorld will serve as advisor, structuring agent and services provider for the program, and its OpenWorld Enterprise platform will finance, coordinate and monitor the network. Key Highlights Up to $1 billion in tokenized financing: OpenWorld structures and administers the tokenized financing program on OpenWorld Enterprise. Tesla Powerwall batteries, solar panels and AI computing equipment serve as collateral within the structure. Exclusive Tesla Powerwall inventory: Meridian holds exclusive rights to a reserved inventory of Tesla Powerwall systems that qualified for federal clean-energy tax credits before those credits were discontinued. [The inventory covers more than 160,000 Powerwalls, enough to support approximately 80,000 homes.] Initial deployment of 10,000 homes: [GPU-equipped computers at participating homes, with larger installations at local schools, hospitals and commercial campuses.] AI inference without new data centers: AI providers pay to run trained models on the network with no new centralized data-center sites, no additional grid interconnections and no water-based cooling. The program is intended to supply capacity to one or more leading AI inference providers. Hosts get paid: Homeowners receive monthly hosting payments and lower-cost electricity, with household energy needs taking priority over computing workloads. Commercial hosts receive a share of site revenue and backup power. Timeline: Test installations scheduled to begin in the fourth quarter of 2026; first commercial site targeted for the first quarter of 2027. Builds on the BeyondAI transaction: Follows last week's proposed transaction with BeyondAI, which would transform BeyondAI’s industrial AI intellectual property rights into financeable collateral on OpenWorld’s tokenization platform. Solving the Power Problem in AI Infrastructure Access to power is a growing constraint on AI infrastructure. New data centers face lengthy grid interconnection timelines, local opposition and significant water demands. The planned network of home-hosted, distributed AI inference computing would place GPU-equipped computers at participating homes and larger installations at local schools, hospitals and commercial campuses, each powered by on-site solar generation and Tesla Powerwall storage. AI providers would pay to use this computing capacity for inference, the process of running trained AI models, without requiring new centralized data-center sites, additional grid connections or water-based cooling. Participating homeowners would receive monthly hosting payments and lower-cost electricity, with household energy needs taking priority over computing workloads. Commercial hosts would receive a share of site revenue and backup power. How the Program Works Meridian, a privately held Delaware limited liability company, specializes in optimizing tax credits for Tesla Powerwall systems and holds exclusive rights to a reserved inventory of Powerwall systems that qualified for federal clean-energy tax credits before those credits were discontinued. [The inventory covers more than 160,000 Powerwalls, enough to support installations at approximately 80,000 homes. The program’s initial deployment is planned for 10,000 homes.] Under the term sheet, OpenWorld will serve as advisor, structuring agent and services provider for the financing program. OpenWorld will establish and administer the tokenized financing structure on its OpenWorld Enterprise platform. The financing would support Meridian’s purchase and deployment of Tesla Powerwall batteries and associated AI computing equipment, as well as the purchase by OpenWorld or a subsidiary of solar panels, all of which would serve as collateral within the structure. OpenWorld is also developing an integrated system to power and operate each installation. The OpenWorld Enterprise platform will coordinate computing workloads across the network, monitor equipment performance and provide investors with reporting on the underlying assets. The program is intended to supply computing capacity to one or more leading AI inference providers. Test installations are scheduled to begin in the fourth quarter of 2026, with the first commercial site targeted for the first quarter of 2027. Management Commentary “Access to power is becoming the major constraint on the growth of AI infrastructure,” said Matt Shaw, CEO and Chairman of OpenWorld. “By bringing computing equipment to homes and commercial properties through solar generation and Tesla Powerwall storage, we can build AI capacity closer to the power source instead of waiting years for a grid connection. Our term sheet with Meridian brings together the tokenization, financing and operating capabilities needed to develop this network at scale, and it shows what OpenWorld Enterprise is built to do: turn real-world assets into financeable, on-chain infrastructure.” “Meridian’s rights to a large inventory of tax-qualified Tesla Powerwall systems provide the critical foundation for this program,” said Josh Raffaelli, founder of Meridian and clean energy investor. “OpenWorld will help us finance the equipment and manage the network, turning solar generation and battery storage at participating properties into infrastructure that can serve growing demand for AI computing.” If a transaction is consummated, Mr. Raffaelli is expected to join OpenWorld’s board of directors. Certain officers and directors of OpenWorld hold interests in Meridian; additional information regarding these relationships is included in the Company’s Current Report on Form 8-K. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “expected,” “would,” “will,” “anticipate,” “intend,” “plan” and similar expressions are intended to identify forward-looking statements. These include statements about the proposed engagement, the size, timing and structure of the financing program, the Distributed Inference Program, anticipated offtake arrangements and tax credit treatment. These statements are subject to risks and uncertainties that could cause actual results to differ materially. Those risks include failure to execute definitive agreements, market conditions, regulatory developments affecting tokenized securities, tax law changes and the risks described in OpenWorld’s Annual Report and Quarterly Reports filed with the SEC, including under the heading titled “Risk Factors.” OpenWorld undertakes no obligation to update these statements except as required by law. Tesla and Powerwall are trademarks of Tesla, Inc. Tesla, Inc. is not a party to the term sheet described in this release. No Offer or Solicitation This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About OpenWorld OpenWorld, Inc. (NASDAQ: OPNW) is a technology-powered digital assets and blockchain innovation company that co-architects and takes principal positions in enterprise blockchain initiatives alongside sovereign governments, institutional partners and major enterprises. Since its founding in 2023, OpenWorld has advised on projects representing over $66 billion in aggregate network value and supported more than 20 companies backed by leading global venture firms, including a16z, Multicoin Capital, Dragonfly and Founders Fund. OpenWorld’s capabilities span real-world asset tokenization, stablecoin infrastructure, capital markets advisory, governance structuring and public markets strategy, with active engagements across the United States, Gulf, Europe, Southeast Asia and Africa. To learn more, visit openworld.dev and follow OpenWorld on X at [@_openworld]. About Meridian Meridian is a privately held Delaware limited liability company that specializes in optimizing federal clean-energy tax credits for Tesla Powerwall systems and holds exclusive rights to a reserved inventory of tax-credit-qualified Powerwall systems. Contacts [email protected] MediaGasthalter & Co.Phone: (212) 257-4170Email: [email protected]
  3. FinanceOpenWorld (NASDAQ: OPNW) Signs Term Sheet to Finance and Operate a Solar-Powered AI Computing Network Built on Tesla Powerwall BatteriesCompanies: TeslaOpenWorld, Inc. ("OpenWorld" or the "Company") (NASDAQ: OPNW), an innovation company advancing global real-world asset ("RWA") tokenization, today announced that it has entered into a non-binding term sheet with Meridian to establish a tokenized financing program of up to $[1] billion to fund the purchase and deployment of a distributed AI computing network powered by solar energy and Tesla Powerwall battery storage. Under the term sheet, OpenWorld will serve as advisor, structuring agent and services provider for the program, and its OpenWorld Enterprise platform will finance, coordinate and monitor the network. Key Highlights Up to $1 billion in tokenized financing: OpenWorld structures and administers the tokenized financing program on OpenWorld Enterprise. Tesla Powerwall batteries, solar panels and AI computing equipment serve as collateral within the structure. Exclusive Tesla Powerwall inventory: Meridian holds exclusive rights to a reserved inventory of Tesla Powerwall systems that qualified for federal clean-energy tax credits before those credits were discontinued. [The inventory covers more than 160,000 Powerwalls, enough to support approximately 80,000 homes.] Initial deployment of 10,000 homes: [GPU-equipped computers at participating homes, with larger installations at local schools, hospitals and commercial campuses.] AI inference without new data centers: AI providers pay to run trained models on the network with no new centralized data-center sites, no additional grid interconnections and no water-based cooling. The program is intended to supply capacity to one or more leading AI inference providers. Hosts get paid: Homeowners receive monthly hosting payments and lower-cost electricity, with household energy needs taking priority over computing workloads. Commercial hosts receive a share of site revenue and backup power. Timeline: Test installations scheduled to begin in the fourth quarter of 2026; first commercial site targeted for the first quarter of 2027. Builds on the BeyondAI transaction: Follows last week's proposed transaction with BeyondAI, which would transform BeyondAI’s industrial AI intellectual property rights into financeable collateral on OpenWorld’s tokenization platform. Solving the Power Problem in AI Infrastructure Access to power is a growing constraint on AI infrastructure. New data centers face lengthy grid interconnection timelines, local opposition and significant water demands. The planned network of home-hosted, distributed AI inference computing would place GPU-equipped computers at participating homes and larger installations at local schools, hospitals and commercial campuses, each powered by on-site solar generation and Tesla Powerwall storage. AI providers would pay to use this computing capacity for inference, the process of running trained AI models, without requiring new centralized data-center sites, additional grid connections or water-based cooling. Participating homeowners would receive monthly hosting payments and lower-cost electricity, with household energy needs taking priority over computing workloads. Commercial hosts would receive a share of site revenue and backup power. How the Program Works Meridian, a privately held Delaware limited liability company, specializes in optimizing tax credits for Tesla Powerwall systems and holds exclusive rights to a reserved inventory of Powerwall systems that qualified for federal clean-energy tax credits before those credits were discontinued. [The inventory covers more than 160,000 Powerwalls, enough to support installations at approximately 80,000 homes. The program’s initial deployment is planned for 10,000 homes.] Under the term sheet, OpenWorld will serve as advisor, structuring agent and services provider for the financing program. OpenWorld will establish and administer the tokenized financing structure on its OpenWorld Enterprise platform. The financing would support Meridian’s purchase and deployment of Tesla Powerwall batteries and associated AI computing equipment, as well as the purchase by OpenWorld or a subsidiary of solar panels, all of which would serve as collateral within the structure. OpenWorld is also developing an integrated system to power and operate each installation. The OpenWorld Enterprise platform will coordinate computing workloads across the network, monitor equipment performance and provide investors with reporting on the underlying assets. The program is intended to supply computing capacity to one or more leading AI inference providers. Test installations are scheduled to begin in the fourth quarter of 2026, with the first commercial site targeted for the first quarter of 2027. Management Commentary “Access to power is becoming the major constraint on the growth of AI infrastructure,” said Matt Shaw, CEO and Chairman of OpenWorld. “By bringing computing equipment to homes and commercial properties through solar generation and Tesla Powerwall storage, we can build AI capacity closer to the power source instead of waiting years for a grid connection. Our term sheet with Meridian brings together the tokenization, financing and operating capabilities needed to develop this network at scale, and it shows what OpenWorld Enterprise is built to do: turn real-world assets into financeable, on-chain infrastructure.” “Meridian’s rights to a large inventory of tax-qualified Tesla Powerwall systems provide the critical foundation for this program,” said Josh Raffaelli, founder of Meridian and clean energy investor. “OpenWorld will help us finance the equipment and manage the network, turning solar generation and battery storage at participating properties into infrastructure that can serve growing demand for AI computing.” If a transaction is consummated, Mr. Raffaelli is expected to join OpenWorld’s board of directors. Certain officers and directors of OpenWorld hold interests in Meridian; additional information regarding these relationships is included in the Company’s Current Report on Form 8-K. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “expected,” “would,” “will,” “anticipate,” “intend,” “plan” and similar expressions are intended to identify forward-looking statements. These include statements about the proposed engagement, the size, timing and structure of the financing program, the Distributed Inference Program, anticipated offtake arrangements and tax credit treatment. These statements are subject to risks and uncertainties that could cause actual results to differ materially. Those risks include failure to execute definitive agreements, market conditions, regulatory developments affecting tokenized securities, tax law changes and the risks described in OpenWorld’s Annual Report and Quarterly Reports filed with the SEC, including under the heading titled “Risk Factors.” OpenWorld undertakes no obligation to update these statements except as required by law. Tesla and Powerwall are trademarks of Tesla, Inc. Tesla, Inc. is not a party to the term sheet described in this release. No Offer or Solicitation This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About OpenWorld OpenWorld, Inc. (NASDAQ: OPNW) is a technology-powered digital assets and blockchain innovation company that co-architects and takes principal positions in enterprise blockchain initiatives alongside sovereign governments, institutional partners and major enterprises. Since its founding in 2023, OpenWorld has advised on projects representing over $66 billion in aggregate network value and supported more than 20 companies backed by leading global venture firms, including a16z, Multicoin Capital, Dragonfly and Founders Fund. OpenWorld’s capabilities span real-world asset tokenization, stablecoin infrastructure, capital markets advisory, governance structuring and public markets strategy, with active engagements across the United States, Gulf, Europe, Southeast Asia and Africa. To learn more, visit openworld.dev and follow OpenWorld on X at [@_openworld]. About Meridian Meridian is a privately held Delaware limited liability company that specializes in optimizing federal clean-energy tax credits for Tesla Powerwall systems and holds exclusive rights to a reserved inventory of tax-credit-qualified Powerwall systems. Contacts Investors [email protected] Media Gasthalter & Co. Phone: (212) 257-4170 Email: [email protected]
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