MindWave Innovations Signs Agreement to Build and Operate AQUAEChain, a Platform for Insured ALCI Credits
MATAWAN, New Jersey, Sept. 24, 2026 (GLOBE NEWSWIRE) -- via IBN — MindWave Innovations Inc. ("MindWave"), a subsidiary of Apimeds Pharmaceuticals US, Inc. (NYSE American: APUS), has signed a 12-month technology services agreement with Singapore-based AQUAE Holdings Pte. Ltd. ("AQUAE") to deploy its MindChain infrastructure as the foundation of AQUAEChain, a platform for insured ALCI Credits.
Under the agreement, MindWave will design, develop, deploy and host AQUAEChain, and provide technical support once it is live. The platform will manage the full life of an ALCI Credit: issuance, verification, tracking, transfer and retirement.
MindWave will earn contracted software development and technology service fees. The agreement also references an allocation to MindWave equal to 20% of the total ALCI Credits issued and outstanding on the AQUAEChain network, calculated at the end of each quarter using the MindChain issuance ledger.
The two companies have divided the work along clear lines. AQUAE will lead the ALCI Credits methodology, brand, business development, partner relationships and ecosystem engagement. MindWave will provide the underlying technology infrastructure and the ongoing technical services required to operate AQUAEChain.
For MindWave, the engagement represents an important expansion of its business. It extends the company's technology business into environmental and sustainability-focused markets and shows its ability to design, build and operate specialized digital infrastructure for a client over the long term.
AQUAEChain will bring blockchain infrastructure, an ALCI Credits registry, monitoring, reporting and verification (MRV) data management, a marketplace and insurance-related features together in one platform. The MRV tools will collect and analyze project information, including satellite and ground-source data. The marketplace will support the listing, trading and settlement of ALCI Credits between AQUAE and its counterparties.
All issued and outstanding credits will be recorded on the MindChain issuance ledger, giving AQUAE and its partners a traceable record from issuance to retirement. MindWave will host the platform in a cloud environment designed for availability, operational continuity and future growth, with administrative, technical and physical safeguards protecting platform data and transaction records.
The companies' shared aim is a secure, transparent, traceable and scalable digital market for nature-based assets, with the methodology and market relationships led by AQUAE and the technology built and run by MindWave.
"Being chosen by AQUAE to build the technology foundation for its ecosystem-finance business shows what MindWave can deliver beyond traditional software development," said Dr. Vin Menon, Chief Executive Officer of MindWave Innovations. "Registry, environmental data, verification and trading will sit on a single platform, and the MindChain ledger means each ALCI Credit can be traced through its entire lifecycle."
"AQUAEChain is central to our plan for ecosystem-finance infrastructure that the market can depend on," said Linju Thomas, Chief Operating Officer of AQUAE Holdings.
"MindWave gives us a scalable platform for managing ALCI Credits, so our team can concentrate on the methodology, our partners and the conservation and regenerative-sustainability initiatives behind each credit."
The agreement took effect on Sept. 14, 2026, with development and delivery tied to agreed project milestones. During the initial 12-month term, MindWave will provide platform hosting, infrastructure maintenance, technical escalation support and embedded engineering assistance, working with AQUAE's technical team on configuration, deployment and operational readiness.
After the initial term, the parties expect to move to a five-year continuing technology services arrangement, subject to mutual agreement and the execution of definitive documentation.
About MindWave Innovations Inc.
MindWave Innovations Inc., a subsidiary of Apimeds Pharmaceuticals US, Inc. (NYSE American: APUS), develops technology infrastructure and digital solutions for blockchain-enabled applications, data-driven platforms, and emerging commercial ecosystems.
Through projects such as AQUAEChain, MindWave is expanding the application of its technology into ecosystem finance, environmental data management, and sustainability-focused markets.
For more information, visit www.mindwavedao.com.
About MindChain
MindChain is a blockchain infrastructure developed within the MindWave ecosystem to support transparent, traceable, and verifiable digital transactions. It is designed to provide the underlying ledger capabilities required for applications involving digital assets, registries, tokenized ecosystems, and decentralized services.
Within AQUAEChain, the MindChain issuance ledger will be used to record and calculate ALCI Credits issued and outstanding, strengthening transparency and traceability across the credit-management process.
About AQUAE Holdings Pte. Ltd.
AQUAE Holdings Pte. Ltd. is a Singapore-based company focused on technology-driven solutions in ecosystem finance, conservation, and regenerative sustainability. The company is developing AQUAEChain to support its ALCI Credits and ecosystem-finance operations.
For more information, visit www.aquaeimpact.com.
About ALCI
The AQUAE Labs Ecosystems Conservation Index (ALCI) is a comprehensive field-based monitoring recording and verification (MRV) framework designed to evaluate the biomass, biodiversity, and ecological functionality of terrestrial ecosystem types following the approach defined by the IUCN and other replicable scientific approaches.
Forward-Looking Statements
This announcement contains forward-looking statements regarding the development, implementation, anticipated capabilities, and potential performance of the AQUAEChain Platform, the integration and operation of MindChain, and the potential issuance and allocation of ALCI Credits. These statements are based on current expectations and are subject to risks and uncertainties, including development timelines, achievement of project milestones, technical performance, regulatory requirements, issuance volumes, and market acceptance. Actual results may differ materially from those expressed or implied. The company undertakes no obligation to update these statements except as required by applicable law.
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