Founding of Upwell Consortium Announced by Leading Interstellar Corporations

YULAI – A group of leading interstellar corporations, comprising Chemal Tech, Eifyr & Co., Intaki Bank, Mordu's Legion, Ytiri and Zoar & Sons, have announced today a special filing with the Secure Commerce Commission to establish a major space industrial concern named "Upwell Consortium". In their release, the founding members of the Upwell Consortium name Yani Sar Arteu, noted industrialist and former owner of the ORE corporation, as the chairman of the Upwell board.

The Upwell Consortium is being founded as a means to "capitalize on the burgeoning capsuleer space infrastructure market", with initial product offerings to focus on space stations of novel construction in several size ratings, so as to "suit the needs of capsuleer organizations with varying scale and scope of operations".

The formal grouping of a number of corporations from across New Eden in a multinational, interstellar consortium of this nature has not been seen on this scale since the ill-fated Crielere Project. Upwell public relations point out that the Crielere Research Laboratories were a government controlled organization and therefore subject to diplomatic pressures that the private partnership operating Upwell will avoid.

Questioned as to the involvement of Intaki Bank and Mordu's Legion, Upwell were upbeat and emphasized "the enormous confidence in this undertaking expressed by the direct partnership with one of New Eden's leading banks, combined with the tremendous operational security that is the hallmark of Mordu's Legion."

Gallente business commentator Valentin Ortiz of the Luminaire Stocks Watch galnet site said, "We've seen some upwards pressure on the stocks of those corporations that are listed on the Federation Stock Exchange but it's not been a stellar climb. My own feeling is that there is some surprise and caution owing to the players actually involved in the Upwell Consortium."

For their part, Upwell Consortium spokespeople are saying that the grouping is in negotiations with a number of potential partners and that Upwell is aiming at nothing less than domination of the capsuleer infrastructure market.