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Antelope Enterprise to Provide Energy to the $33.6 Billion US Market through its Completed Acquisition
Globe Newswire 17-Oct-2024 7:30 AM
NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) ("Antelope Enterprise," "AEHL," or the "Company"), a provider of energy infrastructure solutions through natural gas power generation, and majority interest owner of KylinCloud, a livestreaming e-commerce business in China, today announced its successful launch into the US market. The Company began supplying energy to meet the needs of computing power industries starting in September 2024.
"The growing demand for energy in the US, driven by the explosive expansion of artificial intelligence (AI), presents an extraordinary opportunity. Through our acquisition, we have quickly developed the infrastructure and operational capabilities necessary to serve these high-demand sectors," commented Will Zhang, CEO of Antelope Enterprise.
Capturing a Share of a Multi-Billion Dollar Energy Market
The US energy market for high performance computing power industries is expected to grow significantly, with global data center energy consumption alone projected to reach over 660 terawatt hours (TWh) annually by 2030, as these activities intensify. This demand is bolstered by the AI sector's expansion, expected to grow into a $500 billion market by 2030, and the increasing energy needs of other industries, which are projected to reach roughly $1 trillion by 2025.
"The computational power required by high performance computing power enterprises consumes enormous amounts of electricity, and operators are constantly seeking cost-effective, sustainable energy sources. AEHL is seizing this growth opportunity by offering a reliable and affordable energy solution specifically tailored to meet the needs of these high-growth industries," continued CEO Will Zhang.
"In the first three years of our operation, we plan to help to meet the demands of these rapidly growing industries by tripling our investment and productivity each year. We project production capacity of 500 MW by 2026 which could translate into annual revenue reaching $300 million. We believe that the future will be built on sustainable energy that generates computing power," concluded CEO Will Zhang.
About Antelope Enterprise Holdings Limited
Antelope Enterprise Holdings Limited engages in energy infrastructure solutions through natural gas power generation via its wholly owned subsidiary AEHL US LLC ("AEHL US") and holds a 51% ownership position in Hainan Kylin Cloud Services Technology Co. Ltd ("Kylin Cloud"), which operates a livestreaming e-commerce business in China. Kylin Cloud provides access to over 800,000 hosts and influencers. For more information, please visit our website at https://aehltd.com.
Safe Harbor Statement
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC technology sectors continuing to exhibit sound long-term fundamentals, and our ability to continue to grow our energy, livestreaming ecommerce, business management and information system consulting businesses. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.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 other filings with the U.S. Securities and Exchange Commission.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
