Powerbridge Technologies Awarded Pingxiang Project Contract for its Smart Monitoring Control Platform

Rhea-AI Summary

Powerbridge Technologies (PBTS) announced its Smart Monitoring Control Platform was selected by the local port authority for the Pingxiang Project in Guangxi, China. This project aligns with the Belt and Road initiative, enhancing cross-border trade and digital infrastructure. The platform integrates advanced technologies like GPS, AR, IoT, and AI for efficient customs clearance. CEO Stewart Lor emphasized the project's potential to boost market competitiveness as the company seeks copyrights and patents.

Positive

• Selected for the Pingxiang Project, enhancing credibility.
• Utilizes advanced technologies like GPS, AR, IoT, and AI.
• Aligns with Belt and Road initiative, potentially attracting more projects.

Negative

• None.

ZHUHAI, CHINA / ACCESSWIRE / April 1, 2021 / Powerbridge Technologie Co., Ltd. (NASDAQ:PBTS) ("Powerbridge" or the "Company"), a global trade software applications and technology services provider, announced that Powerbridge Smart Monitoring Control Platform was selected by the local port authority, following competitive bidding process for the Pingxiang Project in Guangxi, China.

The Pingxiang Project fosters the digital infrastructure construction for the Belt and Road initiative and promotes the development of cross-border trade, focusing on business innovation and newer technology application.

Smart Monitoring Control Platform enables smart monitoring and control, embedded management and automatic clearance of goods at a variety of cross-country border controlled areas and highly regulated trade and operations regions. This platform utilizes the latest technologies such as Global Positioning System ("GPS"), Augmented Reality ("AR"), Internet of Things ("IoT"), and Artificial Intelligence ("AI") and provides a more efficient way of automatic and intelligent surveillance and operations as well as seamless inspection while ensuring effective and full supervision of customs clearance of goods throughout the clearance process.

Powerbridge proposes the use of "AR+AI" to achieve real-time surveillance and instantaneous risk control for its customers. With the use of Geographic Information System ("GIS") mapping and AI and other new technology, it helps to construct a modern, smart, convenient and efficient cross-border trade supervision platform. Data collection by surveillance cameras, drones and GIS mapping optimizes the business process in supervision sites and integrates the supervision management in just one map, achieving the embedded follow-through supervision in order to tackle the needs for compliance and risk management control for the authorities.

Stewart Lor, President and Chief Financial Officer of Powerbridge, commented, "We believe that we are the pioneers that first introduced the concept of real-time surveillance and instant risk management response in the market with a successful use case. As one of our star solutions, we intend to replicate and scale up the construction of our platform throughout China and internationally. We are currently in the process of applying for copyrights and patents for this solutions. We expect that this project will increase our market competitiveness with the endorsement from our customers."

About Powerbridge

Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS) is a provider of software applications and technology solutions and services to corporate and government customers primarily located in China. Founded in 1997, Powerbridge pioneered global trade software applications with a vision to make global trade operations easier for customers. Since inception, Powerbridge has continued to innovate and deliver solutions and services to address the changing needs of thousands of customers. Powerbridge's mission is to make global trade easier by empowering all players in the ecosystem. For more information, visit www.powerbridge.com/en

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Corporate:
Powerbridge Technologies Co., Ltd.
Stewart Lor
President and Chief Financial Officer
Email: stewartlor@powerbridge.com

Investor Relations:
ClearThink
Phone: 917-658-7878
nyc@clearthink.capital
Email: IR@powerbridge.com

SOURCE: Powerbridge Technologies Co., Ltd.

View source version on accesswire.com:
https://www.accesswire.com/638571/Powerbridge-Technologies-Awarded-Pingxiang-Project-Contract-for-its-Smart-Monitoring-Control-Platform

FAQ

What is the Pingxiang Project awarded to Powerbridge (PBTS)?

The Pingxiang Project focuses on enhancing digital infrastructure and cross-border trade in Guangxi, China, using Powerbridge's Smart Monitoring Control Platform.

How does Powerbridge's Smart Monitoring Control Platform work?

It employs technologies like GPS, AR, IoT, and AI for efficient monitoring and customs clearance at border control areas.

What technologies are used in the Smart Monitoring Control Platform by PBTS?

The platform integrates Global Positioning System (GPS), Augmented Reality (AR), Internet of Things (IoT), and Artificial Intelligence (AI).

What is the significance of the Belt and Road initiative for PBTS?

The project under the Belt and Road initiative enhances Powerbridge's opportunities for digital infrastructure development and cross-border trade, potentially increasing market competitiveness.