Private company
SkyWay
Logo: Jseecia losl, Public domain, via Wikimedia Commons3
Unauthorized transport investment brand
SkyWay Group is an investment brand used since 2014 by various crowd-investing platforms and independent agents to attract investments in string transport. The companies under which these platforms are registered have different founders and names. Among them are First SkyWay Invest Group Limited, SkyWay Invest Group (ceased to exist in 2021), SWIG SIA (Latvia, ceased to exist in 2021), RSW Investment Group LTD (BVI) (currently renamed to NEEW-TNG LTD).2 Wikipedia text CC BY-SA 4.0
Last updated Oct 21, 2026.
Overview
- Industrytransport1
- Websiteskyway-capital.com
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SkyWay Group is an investment brand used since 2014 by various crowd-investing platforms and independent agents to attract investments in string transport.2
Products and brands
- monorail
Listed on Wikidata.1
The SkyWay Group started negotiating with countries like Lithuania, Australia, Slovakia, India, Italy and Indonesia.
Lithuania
The municipality of Šiauliai in Lithuania signed an investment agreement with SkyWay in 2014. The mayor of Šiauliai 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 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, SkyWay negotiated with Flinders University 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 to promote SkyWay technology in Slovakia.
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India
In May 2017 a memorandum of understanding was signed by the minister of Urban Development of the Northern Indian state Himachal Pradesh 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.
Indonesia
In September 2017 a memorandum of understanding was signed with the University of Indonesia in West Java to build on-campus 'sky trains'.
In December 2017 a memorandum of understanding was signed in Jakarta for a proposed project in Kalimantan.
In February 2018 a memorandum of understanding was signed with the Gadjah Mada University in Central Java to promote research and innovation in the field of transportation.
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 (CONSOB).
In March 2019, Brianza – a region in North-West Lombardy, Italy – invited SkyWay to present a feasibility project for a cable car between Cologno Monzese and Vimercate. Due to controversy surrounding the company these negotiations have been postponed.
From Wikipedia’s article on SkyWay Group, shared under CC BY-SA 4.0.4
Controversies and legal
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 prohibited the public offering of SkyWay investment products to the general public.
In August 2019 the Financial markets Authority (FMA) of the New Zealand 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 drive investment. These concerns include the unrealistic returns promised to investors, the value of its intellectual property, awards it has won, 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 were actually untrue. Similar misleading promotion has been documented relating to proposed projects in Russia, the Crimea and India.
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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. The EcoTechnoPark representative sued them for damage done to the company and its reputation. The court refused a lawsuit in June 2017 and was required to pay costs incurred by the defendant. The appelation against this dismissal was unsuccessful.
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. 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.
From Wikipedia’s article on SkyWay Group, shared under CC BY-SA 4.0.4
Links
- Websiteskyway-capital.com1
- WikipediaSkyWay Group
- More imagesWikimedia Commons
- WikidataQ2213339
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataSkyWay on Wikidata
- 2WikipediaSkyWay on Wikipedia
- 3Wikimedia CommonsSkyWay logo by Jseecia losl, Public domain
- 4WikipediaSkyWay on Wikipedia (revision used)