Powerbridge Technologies (PBTS) Enters into Strategic Cooperation Agreement with Huawei

April 12, 2021 8:39 AM EDT
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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.

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