Wang & Lee Group, Inc. Partners with City University of Hong Kong for Groundbreaking Kinetic Energy Project
Rhea-AI Summary
Wang & Lee Group (WLGS) has announced a strategic partnership with City University of Hong Kong to develop innovative kinetic technology that converts footstep energy into renewable power through energized panels. The collaboration aims to revolutionize sustainable energy solutions by harnessing human kinetic energy for off-grid electricity generation.
The company is currently implementing the technology by installing energized panels at Hangseng Bank's headquarters in Central, Hong Kong, specifically on a high-traffic pedestrian footbridge. To support project expansion, WLGS is considering issuing an ESG bond in Luxembourg.
The initiative focuses on both technological advancement and educational outreach, promoting Environmental, Social, and Governance (ESG) principles while demonstrating practical applications of renewable energy generation.
Positive
- Secured strategic partnership with prestigious City University of Hong Kong for R&D
- Ongoing implementation of technology at Hangseng Bank headquarters
- Potential ESG bond issuance in Luxembourg to fund project expansion
Negative
- No revenue projections or financial terms disclosed
- Technology still in development phase with unproven commercial viability
News Market Reaction – WLGS
On the day this news was published, WLGS declined 21.30%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Hong Kong, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc., a leading listed company committed to sustainability, is thrilled to announce a strategic collaboration with City University of Hong Kong for the research and development of kinetic technology. This innovative project aims to transform the energy generated by a single footstep into renewable power via state of the art energised panels, revolutionizing the landscape of sustainable energy solutions.
The partnership between Wang & Lee Group, Inc. and City University of Hong Kong signifies a shared dedication to environmental conservation and sustainable practices. By harnessing human kinetic energy and converting it into off-grid electricity, this collaboration seeks to make a significant impact on the community by promoting renewable energy generation in a unique and engaging manner.
"We are excited to embark on this transformative journey with City University of Hong Kong," said Mr. Ho, CEO of Wang & Lee Group, Inc. "This collaboration exemplifies our commitment to sustainability and innovation, as we work together to develop groundbreaking technology that not only generates renewable energy but also raises awareness about environmental responsibility."
The project not only focuses on technological advancements but also aims to create engaging and educational experiences for stakeholders. By showcasing the potential of kinetic energy conversion, Wang & Lee Group, Inc. and City University of Hong Kong seek to inspire and educate individuals on the importance of Environmental, Social, and Governance (ESG) principles, paving the way towards a more sustainable future for all.
The research and development of kinetic technology for renewable power generation represent a significant step towards achieving a more sustainable future. By leveraging the power of human movement, this project has the potential to make a revolutionary impact on energy production and consumption patterns, setting a new standard for sustainable energy solutions.
Wang & Lee is currently completing the design and installation of the energised panels for Hangseng Bank at its headquarters in Central, Hong Kong on pedestrian footbridge with heavy traffic. The Company is also considering issuing an ESG bond in Luxembourg to raise funds for the purpose of furthering this project.
Contact:
ir@wangnlee.com.hk
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