Powerbridge Technologies Enters into Strategic Cooperation Agreement with Huawei
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Powerbridge Technologies Enters into Strategic Cooperation Agreement with Huawei

Monday, April 12, 2021 8:30 AM
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Expected to Advance the Digital Transformation with Huawei

BEIJING, CHINA / ACCESSWIRE / April 12, 2021 / Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS) ("Powerbridge" or the "Company"), a global trade software applications and technology services provider, and Huawei Technologies Co. Ltd. ("Huawei"), a leading global provider of information and communications technology (ICT) infrastructure and smart devices, have entered into Strategic Cooperation Agreement to jointly promote and market their services to local ports and customs in China.

The Agreement serves as a framework outlining the parties' vision to utilize cutting-edge technologies such as Blockchain, Cloud Computing, Artificial Intelligence ("AI"), and Internet of Things ("IoT") in the global trade industry application and leverage the parties' advantages to jointly market their product and services to local ports and customs in China. The cooperation also aims at seeking deeper collaboration to provide better digital transformation solutions in the global trade industry as well as enhancing joint marketing influence in domestic and international market. The cooperation will focus on i) promoting the construction of Smart Ports; ii) upgrading and accelerating the construction of Smart Customs; iii) jointly creating innovative solutions for Smart Bonded Zone. The parties may enter into further agreement pursuant to which they may jointly bid for specific project.

Huawei and Powerbridge are committed to jointly building a new global trade ecosystem in China by leveraging on Huawei's advantage in market resources and Powerbridge's expertise in global trade digital solutions. The collaboration is expected to promote more digital upgrades and innovative solutions for the custom, ports, and special bonded zone in China.

Stewart Lor, President and Chief Financial Officer of Powerbridge, commented, "The collaboration between Powerbridge and Huawei will be a great opportunity to accelerate the digital transformation in the industry. We are looking forward to this strategic cooperation which will be mutually beneficial and complementary for both parties, allowing us to create a synergy effect in the market. We are also looking forward to seeking deeper collaboration in providing blockchain solutions in global trade industry together with Huawei."

With today's announcement, Powerbridge has launched two new products in Smart Port and Smart Customs respectively.

About Huawei

Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. Huawei has more than 194,000 employees, and operates in more than 170 countries and regions, serving more than three billion people around the world.

Huawei's vision and mission are to bring digital to every person, home and organization for a fully connected, intelligent world. To this end, Huawei will drive ubiquitous connectivity and promote equal access to networks; bring cloud and artificial intelligence to all four corners of the earth to provide superior computing power where needed, when needed; build digital platforms to help all industries and organizations become more agile, efficient, and dynamic; redefine user experience with AI, making it more personalized for people in all aspects of their life, whether they're at home, in the office, or on the go. For more information, please visit Huawei online at www.huawei.com.

About Powerbridge Technologies

Powerbridge Technologies Co., Ltd. (Nasdaq:PBTS) is a provider of software applications and technology solutions and services to corporate and government customers primarily located in China. Founded in 1997, Powerbridge pioneered global trade software applications with a vision to make global trade operations easier for customers. Since inception, Powerbridge has continued to innovate and deliver solutions and services to address the changing needs of thousands of customers. Powerbridge's mission is to make global trade easier by empowering all players in the ecosystem. For more information, visit www.powerbridge.com/en.

FORWARD LOOKING STATEMENT

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws, including, but not limited to, our expectations for future financial performance, business strategies or expectations for our business. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Company cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Words such as "may," "can," "should," "will," "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "target," "look" or similar expressions may identify forward-looking statements. There is no assurance that the supercomputing center will be established as planned, when it will start operation nor any of the planned activities will be implemented by the supercomputing center. Specifically, forward-looking statements may include statements relating to the Company's:

  • ability to execute its business plan;
  • changes in the market for Company's products and services; and
  • expansion plans and opportunities.

These forward-looking statements are based on information available as of the date of this press release and our management's current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but not are limited to, the risk factors described by Powerbridge in its filings with the Securities and Exchange Commission ("SEC"). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance.

Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC, including our Annual Report on Form 20-F for the fiscal year ended December 31, 2019. Powerbridge SEC filings are available publicly on the SEC's website at www.sec.gov. Powerbridge disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please contact:

Corporate:
Powerbridge Technologies Co., Ltd.
Stewart Lor
President and Chief Financial Officer
Email: [email protected]

Investor Relations:
ClearThink
Phone: 917-658-7878
[email protected]
Email: [email protected]

SOURCE: Powerbridge Technologies Co., Ltd.

Powerbridge Technologies Co., Ltd.
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