SAI.TECH Global Corporation - SAI STOCK NEWS

SAI.TECH Global (NASDAQ: SAI, SAITW) has joined the World Nuclear Association (WNA) and will participate in the World Nuclear Symposium 2024 this September. CEO Arthur Lee and Nuclear Energy Strategy Consultant François Morin will present at the event, promoting best practices with HEATNUC Gen. III and Gen. IV small modular reactors.

This membership reflects SAI's commitment to advancing the nuclear industry through collaboration and innovation. As a WNA member, SAI will engage with a global network of industry leaders, experts, and governors dedicated to sustainable nuclear power development. The company aims to support the development of safe, efficient, and sustainable nuclear energy solutions through these engagements.

SAI.TECH Global (NASDAQ: SAI, SAITW) has signed a Memorandum of Understanding (MoU) with Idaho Competitive Aquatics, for the SAI US Idaho Node Project. This initiative will establish the next SAINODE in Idaho, integrating SAI's Advanced Computing Center Ecosystem (ACCE) to enhance heating efficiency in aquatic center operations.

The project aims to recycle computing waste heat to heat the aquatic center, replacing the current natural gas heater. SAI estimates this will reduce CO2 emissions by approximately 96,000 pounds per month and lower the center's heating expenses by more than 40% upon completion.

This partnership marks SAI's first computing heat recycling project for an aquatic center, representing a significant step in sustainable innovation for both the computing and aquatic center industries.

SAI.TECH Global (NASDAQ: SAI, SAITW) announced the results of its annual general meeting held virtually on August 13, 2024. All shareholder proposals were approved, including:

1. Election of Mr. Heung Ming Henry Wong as Class II Director and various committee positions
2. Election of Mr. Haotian Li as Class II Director and committee roles
3. Ratification of Mr. Tianshi Yang as Class III Director and committee positions
4. Approval of the Company's Third Amended and Restated Memorandum and Articles of Association
5. Appointment of Audit Alliance LLP as the independent registered public accounting firm for fiscal year 2024
6. Approval of the company name change to SAIHEAT

SAI.TECH Global (NASDAQ: SAI, SAITW) announced the adjournment of its Annual General Meeting (AGM) originally scheduled for August 6, 2024. The meeting has been postponed to Tuesday, August 13, 2024, at 9:00 a.m. Eastern Standard Time due to a lack of requisite quorum. The AGM will be held virtually at http://www.virtualshareholdermeeting.com/SAI2024.

The record date for the adjourned meeting remains July 19, 2024. Shareholders who have not yet voted are encouraged to do so on the proposals outlined in the Company's Notice of AGM and Form of Proxy dated July 23, 2024. Previously submitted proxies will remain valid unless properly revoked.

SAI.TECH Global (NASDAQ: SAI, SAITW) has announced its upcoming annual general meeting (AGM) scheduled for August 6, 2024, at 9:00 a.m. Eastern Standard Time. The meeting will be held virtually at http://www.virtualshareholdermeeting.com/SAI2024. Shareholders of record as of July 19, 2024, are eligible to attend and vote at the AGM.

The company has made the Notice of AGM and Form of Proxy available on its SEC EDGAR filing page. SAI.TECH's board of directors fully supports the proposals outlined in the Notice of AGM and recommends shareholders vote in favor of these proposals.

SAI.TECH Global (NASDAQ: SAI, SAITW) has announced a new share repurchase program authorized by its board of directors. The program allows the company to repurchase up to US$1 million and up to 1 million shares of its ordinary shares until January 11, 2025. Repurchases may be made through various means, including open market transactions, private negotiations, and block trades, subject to market conditions and applicable regulations. The timing and amount of repurchases will comply with SEC Rules 10b-18 and 10b-5. The board will periodically review the program and may adjust its terms and size.

SAI.TECH Global (NASDAQ: SAI, SAITW) has appointed François Morin as its Nuclear Energy Strategy Consultant. Mr. Morin will evaluate market opportunities for small modular reactors in Asia and globally. He is a renowned nuclear sector expert, currently serving as a Director at the World Nuclear Association and has held various significant roles in the nuclear industry, including at the French Atomic Energy Commission and Framatome. His extensive background includes research, project structuring, and international cooperation. In his new role, he will provide strategic advice, establish expert contacts, and enhance SAI.TECH's global presence. CEO Arthur Lee emphasizes that Mr. Morin's expertise will be pivotal in driving innovation and sustainability in the energy sector.

SAI.TECH has announced the signing of two Memorandums of Understanding (MoUs) aimed at enhancing its HEATNUC product line for nuclear and Small Modular Reactor (SMR) markets in the Middle East. The first MoU, with Suzhou East Instrument Technology, focuses on exporting electrical and instrumentation control systems for nuclear projects. This includes a range of Class IE K1, K2, K3, and non-safety-related equipment, alongside nuclear safety management initiatives. The second MoU, with Kunshan Three-Dimensional Heat Exchanger, targets the joint production of nuclear and SMR equipment, leveraging high-end technology and alloy materials. The partnerships are designed to improve competitiveness and localization in the Middle East while exploring joint export ventures to international markets. These agreements signify SAI.TECH's commitment to innovation, quality, and growth in the global nuclear sector.

SAI.TECH Global (NASDAQ: SAI, SAITW) has signed a Memorandum of Understanding (MoU) with Al-Farabi Kazakh National University in Kazakhstan. This partnership aims to enhance educational and scientific research efforts in the region. It includes faculty and staff exchanges, educational training for teachers, student exchange programs, and joint research initiatives. Additionally, the collaboration will facilitate joint educational programs and curricula, including double diploma initiatives, and the publication of scientific materials. This move represents SAI.TECH’s strategic expansion into Kazakhstan, leveraging its AI computing and sustainable energy solutions to support regional development.