Roze AI signs non-binding MOA for $111.8M fire safety project

Roze AI Inc. (Nasdaq: RZAI) announced that its Korean subsidiary, Roze AI Korea Co., Ltd., signed a memorandum of agreement with Mullae District 3 Complex Development Co., Ltd. on October 16, 2026, to evaluate participation in a proposed development in Yeongdeungpo, Seoul.

The MOA establishes non-binding principles for commercial cooperation, with a preliminary target of approximately $111.8 million (KRW 150 billion) for potential contract work, including AI fire safety systems, services and related work. The company stated that the figure does not represent a confirmed order, revenue guidance, or a financial commitment.

The proposed development is located at 9 Mullae-dong 3-ga, Yeongdeungpo-gu, on approximately 18,963 square meters of land, with current plans calling for residential, industrial and commercial facilities, subject to permits and design approvals.

Under the MOA, the parties will assess how Roze AI Korea's technologies could be applied during the planning and design stage of the project. The agreement remains in effect through March 31, 2027, unless terminated or extended in writing. Any actual participation is subject to feasibility reviews, contracting authority, necessary approvals and execution of a separate definitive agreement.

The company also referenced a previously disclosed contract with INUVERSE Co., Ltd. for the Daegu AI Data Center project in Yeongcheon, Gyeongbuk, with a total contract value of approximately $172.2 million (KRW 230,937,476,000). The company noted that project operations have not commenced, no related revenue has been generated, and project financing has not yet been secured.

Roze AI is a Canadian company operating through Roze AI Korea Co., Ltd. in Seongnam, South Korea. Its platform uses artificial intelligence and digital twin technology for fire risk assessment and monitoring.

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