Gorilla Technology Group Announces First U.K. Customer

Rhea-AI Summary

Gorilla Technology Group has announced a significant milestone in its globalization strategy by securing its first U.K. customer for its edge-based Video Analytics solution aimed at enhancing port operations. This achievement signals the company's commitment to expanding its market presence and capabilities following its headquarters relocation to London. Gorilla's Chief Innovation Officer highlighted the potential growth opportunities in the U.K. port industry, which handled over 445 million tons of cargo in 2021. Gorilla aims to leverage its advanced technology to meet the increasing demand for Smart Port solutions, indicating a positive outlook for future client acquisitions.

Positive

• Secured first U.K. customer for Video Analytics solution.
• Headquarters relocation to London enhances global presence.
• Focus on Smart Port applications presents growth opportunities.

Negative

• None.

--Tangible Milestone in Global Expansion Strategy--
--Video Analytics Suite for Smart Port Application--
--Customer Win Supported by Headquarters Move to U.K.--

LONDON, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, today announced that it secured its first U.K. customer for its edge-based Video Analytics solution for a port owner upgrading its infrastructure to enable more efficient operations through intelligent “Smart Port” functionality.

“This terrific news is an early indication of the strength of our globalization strategy,” said Jay Chandan, Chairman and CEO of Gorilla. “In almost two decades, we developed sophisticated and powerful technology that we sold throughout Asia, but clearly this functionality can be utilized in a wide variety of applications around the world. By moving our headquarters to Europe and going public in the U.S., we now have the global presence and capital to drive growth in markets around the world. In 2023, we will intensify our focus on winning top-tier clients, developing strategic partnerships, and building visibility for the Gorilla brand.”

Gorilla Chief Innovation Officer Dr. Rajesh Natarajan added, “This deal brings our edge-based Video Analytics solution to the transportation industry in Europe, helping to enable the growing trend of ‘Smart Ports’. Our Edge AI product will help determine if vehicles and their cargo are identified based on their serial numbers, are properly certified, and are undamaged. This solution can be applied to both air and sea ports, creating a large new growth opportunity for us in the U.K. port industry, which transported more than 445 million tons of cargo in 2021, according to UK Department for Transport.”

About Gorilla Technology Group Inc.
Gorilla, headquartered in London U.K., is a global solution provider in security intelligence, network intelligence, business intelligence and IoT technology. Gorilla develops a wide range of solutions including Smart Cities, Smart Retail, Enterprise Security, and Smart Media. In addition, Gorilla provides a complete Security Convergence Platform to government institutions, telecom companies and private enterprises with network surveillance and cyber security.

Gorilla places an emphasis on offering leading technology, expert service, and precise delivery, and ensuring top-of-the-line, intelligent and strong edge AI solutions that enable clients to improve operational performance and efficiency. With continuous core technology development, Gorilla will deliver edge AI solutions to managed service providers, distributors, system integrators, and hardware manufacturers. For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements
This press release contains forward-looking statements, which are based on estimates, assumptions, and expectations. Actual results and performance could differ materially and adversely from those expressed or implied in forward-looking statements. Gorilla does not undertake any obligation to update any forward-looking statements, except as required by law.

Contact
Jeff Fox
The Blueshirt Group for Gorilla
+1 (415) 828-8298
jeff@blueshirtgroup.com

FAQ

What did Gorilla Technology Group announce on February 7, 2023?

Gorilla announced securing its first U.K. customer for its edge-based Video Analytics solution, marking a milestone in its globalization strategy.

How does Gorilla's Video Analytics solution benefit ports?

The solution aids in efficient operations by identifying vehicles and cargo based on serial numbers, ensuring proper certification and damage checking.

What is the significance of Gorilla's headquarters relocation to the U.K.?

The move to London enhances Gorilla's global presence and ability to target top-tier clients and strategic partnerships.

What growth opportunity does Gorilla see in the U.K. port industry?

Gorilla sees a large growth opportunity in the U.K. port industry, which transported over 445 million tons of cargo in 2021.

What is Gorilla Technology Group’s stock symbol?

Gorilla Technology Group is listed under the stock symbols GRRR and GRRRW.