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cidaas Applauded by Frost & Sullivan for Its Scalable, Secure, and Comprehensive CIAM Solution

cidaas consistently introduces cutting-edge features to enhance its platform, ensuring alignment with its long-term strategy while addressing evolving industry needs.

SAN ANTONIO, Jan. 27, 2025 /PRNewswire/ — Frost & Sullivan recently researched the cloud consumer identity and access management (CIAM) industry and, based on its analysis, recognizes cidaas with the 2024 European Company of the Year award. The company is one of the newer entrants in the consumer identity and access management (CIAM) market. The company started by offering its cloud-based, API-centric solution in the DACH region; it has since expanded to establish a presence across Europe. Although it competes globally, it will continue to focus and build on its strong European position. Its success in this region is based on its deep understanding of the CIAM market in Europe and requirements across industry verticals and business segments. As a local provider, its solution ensures GDPR compliance and meets consumer data privacy and security expectations.

cidaas has built on its foundation in CIAM and expanded its portfolio with complementary solutions, such as the cidaas ID validator (a fully automatic digital identity verification solution) and workforce IAM. Based on the standards OAuth2.0, OpenID, and “Everything is an API” architecture, cidaas supports seamless integration and easy scalability to accommodate millions of users. The vendor’s ability to scale and offer out-of-the-box capabilities that easily integrate into a workflow allows it to cater to very large and medium-sized firms. The cidaas leadership team maintains a very strong focus on innovation and developing features that fit its long-term plan for the company. Its team size, which increased to 150 employees in 2024 from 35 in 2016, largely comprises technical talent. Meanwhile, its inbound approach to sales and marketing enables it to focus on customer engagement. cidaas helps companies achieve higher conversion rates and significantly reduces registration drop-offs it’s with seamless onboarding and intuitive authentication processes. Companies achieve faster time to market with its end-to-end capabilities and ease of implementation.

Deepali Sathe, senior industry analyst at Frost & Sullivan, observed, “In an industry where many competitors have opted for rapid expansion over profitability, cidaas’s commitment to its long-term vision and steady growth is commendable. It has achieved a balance between growth, innovation, and relevance to the industry that will ensure a sustainable competitive advantage.”

cidaas’s microservices architecture and big data platform present an extremely flexible option that is also easy to integrate with the existing identity stack. Its scalability enables better management during peak periods of activity, such as holidays, product launches, and live games or events. With advanced authentication methods (such as passkeys) and a commitment to constantly invest in innovation, cidaas offers a CIAM option that aligns with its clients’ digital transformation initiatives. The value proposition of cidaas’s comprehensive CIAM solution resonates with clients because it provides personalized UX, fraud prevention, flexible and scalable modern capabilities, ease of integration, enabling vendor consolidation. It supports clients with timely sales responses, comprehensive training before implementation, help desks, dedicated account managers, and continuous engagement. cidaas has held a growth rate of nearly 100% year-on-year over the last 3 years, which it is poised to maintain due to its presence across all business segments and multiple verticals, entry into new geographic markets, and numerous new features.

“cidaas has emerged as a trusted and reliable partner for more than 250 customers and now manages over a billion identities in an extremely competitive CIAM market. It has been able to achieve a 100% customer retention rate, reflecting the success of its policy of regular updates, proactive communication, and personalized support,” added Deepali. With its strong overall performance, cidaas earns Frost & Sullivan’s 2024 European Company of the Year award in the Cloud CIAM industry.

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.

Contact:

Ashley Shreve
E: ashley.shreve@frost.com

Moomoo’s Inaugural North America 2024 Investor Survey: A steady climb in the 2024 markets boosted investor confidence; Canada investors more concerned about tax and currency volatility

JERSEY CITY, N.J., Jan. 27, 2025 /PRNewswire/ — Moomoo, one of the world’s leading investment and trading platforms has recently completed its first North American user survey, revealing that the steady climb in the 2024 markets has significantly bolstered investor confidence. Moomoo users in both the US and Canada report to have traded more often in 2024 than in 2023 and the number of users reporting positive returns also grew. Looking forward to 2025, most investors still expect that tech stocks to lead the way despite a recent slowdown in their market leadership.

Moomoo's Inaugural North America 2024 Investor Survey shows a steady climb in the 2024 markets boosted investor confidence
Moomoo’s Inaugural North America 2024 Investor Survey shows a steady climb in the 2024 markets boosted investor confidence

 

With the US market near all-time highs, overall investors are less worried about inflation and the economy and have slightly tempered their bullish views on markets due to higher valuations. Support from the Fed in the form of interest rate cuts is expected by surveyed users, but not at the pace of 2024. Moomoo’s users in Canada are generally aware of and increasingly well prepared to face the unique investing challenges around taxes, exchange rates and central bank policy.

As the markets notched a second consecutive year of over 20% price appreciation with stronger-than-expected economic and earnings growth and interest cuts by the Federal Reserve, 75% of moomoo users report to have traded more than they did in 2023 as investors look at the stock market more positively and confidently. However, the forward-looking perspective is not as rosy as last year as 42% of surveyed users are bullish for 2025 compared to 45% at the beginning of 2024. Higher valuations may be one of the reasons for the more neutral outlook from survey participants. 64% of user said the stocks at the center of the AI revolution are overvalued compared with 54% a year ago.

“While many investors took charge of their trading and rode the market highs in 2024, they expect technology stocks to overperform the rest of the market with some caution of its overvaluation,” said Justin Zacks, Vice President of Strategy, Moomoo Technologies Inc. That explains why 85% of users added money to their moomoo trading accounts in 2024. Also, two thirds of users who added money to their account did so three or more times in 2024.

Moomoo’s US CEO Neil McDonald added, “We learned that 31% of our users are very confident in meeting their investment goals compared to 26% a year earlier. However, in 2025, while the general economic picture matters to moomoo investors, inflation worries eased, but a softening job market might lead investors into a cautious positive sentiment.”

For moomoo Canadian users, 87% of them consider taxes to be a very or somewhat important part of their investment strategy and 88% of Canadian users are either very or somewhat concerned about the impact of currency exchange rates on their US investments.

“As the Canadian dollar ended the year at its weakest level against the US dollar since 2002, potential changes in tariffs in 2025 may cause further currency volatility,” said Michael Arbus, CEO at Moomoo Financial Canada. “Moomoo Canada users who trade US stocks, options and ETFs will take the currency factor into majority of their investment approach.”

About the Survey

The survey included approximately 1200 registered moomoo users in North America (1000 U.S. users, 200 Canada users) from Dec.23 to Dec. 28, 2024. The data shown in the survey represents the opinion of those surveyed and may change based on the market and other conditions. The survey results provided herein may not represent other customers’ experience, and there is no guarantee of future performance or success and should also not be construed as investment advice. Experiences may differ than the ones represented here. Investing involves risks regardless of the strategy selected.

This whitepaper is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Past investment performance does not indicate or guarantee future success. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions.

We do not provide tax advice and any tax-related information provided is general in nature and should not be considered tax advice. Consult a tax professional regarding your specific tax situation.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., Investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC.

About moomoo

Moomoo is a leading global investment and trading platform dedicated to empowering investors with user-friendly tools, data, and insights. Our platform is designed to provide essential information and technology, enabling users to make well-informed investment decisions. With advanced charting tools, pro-level analytical features, Moomoo evolves alongside our users, fostering a dynamic community where investors can share, learn, and grow together.

Founded in the US, Moomoo operates globally, serving investors in countries such as the US, Singapore, Australia, Japan, Canada and Malaysia. As a subsidiary of a Nasdaq-listed company, we take pride in our role as a global strategic partner of the Nasdaq, earning numerous international accolades from renowned industry leaders such as Benzinga and Fintech Breakthrough. Moomoo has also received multiple awards in the US, Singapore, and Australia for its cutting edge, inclusive approach to investing.

For more information, please visit moomoo‘s official website at www.moomoo.com

Happy Spring Festival! Here are all the ways you can celebrate!

BEIJING, Jan. 27, 2025 /PRNewswire/ — A news report from China.org.cn on Spring Festival:

How do the Chinese celebrate the Spring Festival? If your knowledge is limited to “eating dumplings”, “hanging spring couplets” or “receiving red envelopes,” you may want to watch on.


Happy Spring Festival! Here are all the ways you can celebrate!

The Spring Festival is the most significant traditional festivity in China, while also being a prominent cultural symbol for China’s 56 ethnic groups. When people celebrate the Spring Festival, bidding farewell to the old and saying hello to the new, vivid characteristics of their ethnic groups are often showcased in their celebrations. But if we trace these customs to their original inspirations, we can see that many of them bear similar significance.

For example, during the Spring Festival, people of many ethnic groups will choose to eat a specific food, which reflects their wishes for the coming year. The She and Miao people, to start with, will make ciba, a Chinese-style cake made from glutinous rice, as a wish that the year ahead will be just as sweet and pleasant as the dessert’s flavor. And there’s also the fish. Like the Han people, fish is also a must-have dish for numerous households of Dong and Manchu ethnic groups, since “fish” shares the same pronunciation as the word for “surplus,” symbolizing good wishes for a year of wealth.

The customs of many ethnic groups also reflect common worship and respect for nature. For example, people of multiple ethnic groups including Bouyei and Nu, regard the first bucket of water they fetch after the new year rings in to be pure and auspicious; for the Zhuang ethnic group, people usually keep a “new year’s fire” burning throughout the night; while for some Yi people who live in Yunnan province, pine is worshipped, with local inhabitants putting up pine branches in their yards and laying pine leaves on the floor, to pray for tranquillity, harmony and auspiciousness.

At the time of the Spring Festival, not only do families get together, but people of various ethnic groups also engage in all kinds of entertainment, including singing and dancing, competitions of various forms, etc.

In recent years, many regions where multiple ethnic groups inhabit have begun to host more inclusive celebrations, as well as shows where performers from different ethnic groups can present their customs to a larger audience. The unique cultures and traditions of the 56 ethnic groups, have pooled more recognition and aroused more resonance through the common bond of the Spring Festival.

Last month, the Spring Festival was inscribed on the Representative List of the Intangible Cultural Heritage of Humanity by UNESCO, another milestone after it became a UN holiday in 2023. Although the festival originated in China, it has gone global and has almost immersed itself in the social and cultural fabrics of many countries. Countries like Vietnam and South Korea have listed the Spring Festival as a public holiday, and Panama has announced it to be a national holiday.

For quite some years, famous landmarks have put on their “special costumes” for the Spring Festival with festive vibes being very tangible across many cities outside China. For many friends from other countries, the Spring Festival is no longer a vague term, but has been concretized via themes like the customs and the Chinese zodiac animals.

What’s more, in the Spring Festival celebration events, we saw Hungarian folk dance and traditional Chinese dance performing on the same stage; Czech folk songs were played by musicians from both China and the Czech Republic in a Spring Festival concert in Prague… Thanks to the Spring Festival, the world gets to know China better, and vice versa. With the festival as a conduit, cultures and civilizations are seeing beyond “differences”, and realizing more exchanges and integration.

After all these examples, it’s not hard to see how the Spring Festival spells “diverse” in its DNA. Such diversity strikes a perfect balance with the unity and solidarity shown by China’s ethnic groups, as well as with the harmony and inclusiveness of Chinese culture in the kaleidoscope of global civilizations.

Happy Spring Festival! May you enjoy a year of harmony and prosperity, happiness and peace!

China Mosaic
http://www.china.org.cn/video/node_7230027.htm
Happy Spring Festival! Here are all the ways you can celebrate!
http://www.china.org.cn/video/2025-01/26/content_117687265.htm 

NYSE CONTENT ADVISORY: PRE-MARKET UPDATE FOR JANUARY 27th

NEW YORK, Jan. 27, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) is proud to offer a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins. 

 

NYSE CONTENT ADVISORY: PRE-MARKET UPDATE FOR JANUARY 27th

Kristen Scholer delivers the pre-market update on January 27th

  • S&P 500 aims for third straight week of gains
  • Investors anticipate the Fed’s first meeting of 2025, expecting unchanged rates
  • Apple, Meta, Microsoft, and Tesla to announce Q4 earnings results

Watch NYSE TV Live every weekday 9:00-10:00am ET 

 

Gorilla Technology and Royal Thai Tourist Police Advance Thailand’s AI Tourism Safety Initiative

Bangkok, Thailand – Newsfile Corp. – January 27, 2025 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”), announced, that they are now advancing to the design and development phase. This next step involves implementing advanced customisation and integration solutions that will transform Thailand into Southeast Asia’s hub for AI-powered tourism safety.


To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10783/238519_ac175d6f8436e839_001full.jpg

Mike Wang, Sales Director, Thailand and Rest of Asia, commented “Thailand is leading Southeast Asia’s AI transformation and this initiative is a clear testament to the country’s forward-thinking approach. By integrating global data-sharing capabilities with our AI systems, we are ensuring that Thailand’s tourism safety framework sets a benchmark not just regionally but globally.

The demand for our solutions is accelerating across Southeast Asia, with a pipeline of opportunities exceeding $1 Billion in Thailand alone. We are actively forming partnerships that will deliver significant value and drive innovation across the region. Over the next year, we also plan to scale operations in Thailand, hiring over 100 new team members to support these growing opportunities.”

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10783/238519_ac175d6f8436e839_002full.jpg

Viraphan Paiboolsilp, Technology Specialist, said, “The design and development phase is critical for embedding advanced technical capabilities into Thailand’s tourism safety framework. Our IVAR systems are being enhanced to process vast number of live video feeds daily, integrating real-time analytics with global databases to ensure proactive threat identification and response.

Key advancements include:

  • Seamless Global Integration: Connecting with international databases for facial recognition, wanted persons, and licence plate tracking to bolster cross-border security.
  • Smart Resource Management: Leveraging heat mapping and crowd density analysis to optimise manpower, reducing response times by 30%.
  • AI Accuracy at Scale: Achieving 98% accuracy in threat detection through enhanced algorithm optimisation.

With strong support from the British government, we are fostering relationships with key local players, positioning Gorilla Technology to bid on high value projects. This marks a significant step forward in Thailand’s AI leadership journey.”

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10783/238519_ac175d6f8436e839_003full.jpg

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Gorilla’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about our ability to execute definitive agreements related to this smart education project, attract the attention of customers and win additional projects, along with those other risks described under the heading “Risk Factors” in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the “SEC”) on May 15, 2024 and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

Investor Relations Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

The issuer is solely responsible for the content of this announcement.

Bloomage Joins the United Nations Global Compact

PARSIPPANY, N.J., Jan. 27, 2025 /PRNewswire/ — Bloomage, a global leader in hyaluronic acid and other bioactive innovations, officially joined the United Nations Global Compact (UNGC). This commitment further reflects Bloomage’s on-going efforts in global sustainable development.


About the United Nations Global Compact

The UNGC is the world’s largest sustainable economy initiative under the United Nations Secretariat. Since its establishment in 2000, it has united over 25,000 companies and stakeholders from nearly 170 countries. All participants pledge to uphold the Global Compact’s ten principles covering human rights, labor standards, the environment, anti-corruption, and other critical criteria.

Bloomage adheres to international ESG standards

As a global leader in bioactive innovations, Bloomage operates in over 70 countries and regions. Leveraging its exceptional R&D capabilities, the company provides safe, effective, and compliant ingredients for life and health. In tandem with its rapid product development, Bloomage integrates robust environmental, sustainability, and corporate governance (ESG) principles into all areas of its operations. Among its many achievements, the company follows the guidelines of internationally recognized frameworks, such as the GRI Standards by the Global Reporting Initiative (GRI) and the International Integrated Reporting Framework by the International Integrated Reporting Council (IIRC).

Zhao Yan, Bloomage Chairperson and CEO, said: “To become a world-class company, global engagement is essential. ESG serves not just as a framework for communication with stakeholders but as a key to unlocking global opportunities. By following international ESG standards, Bloomage ensures sustainable, steady, and responsible growth.”

Bloomage’s recent milestones in ESG

2019 to 2023: Consistently published annual Social Responsibility Report
2023: Established its systematic and standardized ESG management system for sustainable growth.

  • April 2024: Bloomage released its first Sustainability Report to quantify the impact of its ESG initiatives for greater transparency.
  • May 2024: Bloomage signed the Women’s Empowerment Principles (WEPs) by UN Women.
  • August 2024: Bloomage received the EcoVadis Bronze Medal, placing it in the top 28 percent of evaluated companies globally.

Bloomage will adhere to the ten principles of the Global Compact and further strengthen its relationships with global partners to advance the sustainable development agenda, contributing to a fairer and more sustainable world.

About Bloomage

Since its founding in 2000, Bloomage has grown into a leading international company specializing in the research, development, production, and sale of hyaluronic acid and other bioactive substances for the pharmaceutical, cosmetic and functional foods industries. Bloomage’s commitment to quality, innovation, and sustainable innovations have established the company as a trusted name for some of the world’s most renowned brands. It now serves more than 4,000 customers in over 70 countries.

Media Contact
Cecilia Qian
cecilia@impact5r.com 

Lichen China Limited Announces Receipt of Notification from Nasdaq

XIAMEN, China, Jan. 27, 2025 /PRNewswire/ –Lichen China Limited (Nasdaq: LICN) (“Lichen China” or the “Company”), a dedicated financial and taxation service provider in China today announced that it has received a written notification (the “Notification Letter”) from the Listings Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on January 23, 2025. The Notification Letter advised the Company that for the last 30 consecutive business days, the minimum closing bid price per share for the Company’s ordinary shares was below the $1.00 per share requirement for continued listing under Nasdaq Listing Rule 5550(a)(2).

The Company would like to clarify that the Notification Letter has no current effect on the listing or trading of the Company’s securities on Nasdaq. Pursuant to Nasdaq Listing Rules 5810(c)(3)(A), the Company has been granted a compliance period of 180 calendar days, until July 22, 2025, to regain compliance with the Nasdaq Listing Rules. If, at any time during this compliance period, the closing bid price of the Company’s ordinary shares reaches US$1.00 per share or higher for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance, and the matter will be resolved.

In the event the Company does not regain compliance by July 22, 2025, it may be eligible for an additional 180 calendar day period to regain compliance.

The Company intends to actively monitor the bid price for its shares and will evaluate available options to regain compliance with the continued listing requirements.

About Lichen China Limited

Lichen China Limited focuses on providing financial and taxation solution services, education support services, and software and maintenance services under its “Lichen” brand. In recognition of the Company’s expertise and experience in the financial and taxation solution services industry for over 18 years, the Company has built up its reputation as a dedicated financial and taxation solution services provider of professional and high-quality services in China. For more information, please visit the Company’s website: https://ir.lichenzx.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

Tian Sun
Phone: +86-0592-5586999
Email: ir@lichenzx.com

Ace Green Recycling and Spiro Announce Strategic Partnership for Sustainable Battery Circularity in Africa

Africa’s largest EV company selects Ace as exclusive global recycling partner to strengthen sustainable operations

Ace to recycle lithium-ion battery material, including LFP batteries, from Spiro’s end-of-life batteries and waste material from its battery manufacturing in Africa

Agreement supports Ace’s global growth strategy with future opportunities to jointly develop African facilities with Spiro, leveraging the company’s patented and environmentally friendly battery recycling technology

HOUSTON, Jan. 27, 2025 /PRNewswire/ — Ace Green Recycling, Inc., a leading provider of sustainable battery recycling technology, and Spiro, Africa’s largest electric vehicle (EV) company and recognized leader in sustainable mobility, have signed a strategic agreement to support the circular battery value chain in Africa. The partnership will see Ace recycle end-of-life lithium-ion batteries, including LFP batteries, as well as waste from Spiro’s battery manufacturing facilities.

Recycled Lithium Carbonate
Recycled Lithium Carbonate

As part of the agreement, Spiro has named Ace as its exclusive global preferred recycling partner. Ace and Spiro will collaborate to develop co-located recycling centers near Spiro’s collection hubs, utilizing Ace’s proprietary, environmentally friendly technology. The partnership will emphasize the safe handling and recycling of batteries and support Spiro’s sustainable growth as it scales its operations across Africa.

“Spiro’s focus on circularity has been at the core of deploying the largest electric mobility fleet in Africa. As Spiro leads the decarbonization of Africa’s transportation sector, partnering with Ace will further accelerate this progress in a sustainable and responsible manner. This collaboration reinforces our commitment to SDG 13 (Climate Action) and SDG 12 (Responsible Consumption and Production), while building a circular value chain that reduces carbon emissions and supports local economic development,” said Kaushik Burman, CEO of Spiro.

“Leveraging our innovative and green LithiumFirst™ technology that efficiently and effectively recycles lithium-ion battery material, including LFP, we are focused on scaling our modular solution to support a circular value chain that meets the growing demand for recycling,” said Nishchay Chadha, CEO of Ace. “Spiro is a pioneer in Africa when it comes to electrifying its transportation sector, and we look forward to supporting its continued growth with our technology and services. This agreement serves as the foray for Ace in the African market as we continue to rollout our global deployment strategy.”

About Ace Green Recycling

Ace Green Recycling, Inc., incorporated in Delaware, is an innovative battery recycling technology platform offering sustainable end-of-life solutions. It has deployed modular, Scope 1 carbon emissions-free recycling facilities for lithium (NMC & LFP) and lead batteries used in various industries, including electronics, automotive, and energy storage. Ace was founded by Nishchay Chadha, Chief Executive Officer and a veteran in recycling, mining, and global supply chain industries, and Dr. Vipin Tyagi, Chief Technology Officer, with extensive experience in battery materials recycling technologies. For more information, please visit www.acegreenrecycling.com.

About Spiro

Spiro is Africa’s largest electric vehicle company, with more than 22,000 innovative electric bikes deployed across the continent, delivering clean energy and sustainable transportation in Nigeria, Kenya, Uganda, Rwanda, Benin, Togo, Ghana and Tanzania. Spiro riders have collectively driven more than 300 million kilometres without polluting Earth’s atmosphere, avoiding over 21,000 tonnes of CO₂ emissions. Spiro provides a comprehensive support network for electric vehicles, including battery swapping, fast chargers, and home charging solutions. Spiro’s technical innovation centres, based in Pune and Lagos, have developed the technology platforms to deliver a Pan-African smart energy ecosystem, powering the transition to sustainable transportation across the continent. Our mission is to lead the transition to clean energy and smart transportation, ensuring a greener future for the continent.

Contacts:

Media (Ace):
Media@acegreenrecycling.com

Investors (Ace):
Investors@acegreenrecycling.com

Media (Spiro):
Lee Breheny, Chief Communications Officer (CCO), Equitane
+44 07590 847020

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements generally can be identified by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. Such statements include statements regarding the intent, belief or current expectations of Ace and members of its management as well as the assumptions on which such statements are based. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties that could cause actual events or results to vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this press release are made as of this date, and Ace undertakes no duty to update such information except as required under applicable law.

One of Spiro’s electric bikes
One of Spiro’s electric bikes