American Wealth Mining Corp. Update on New Energy’s Signing of MOU for a Partnership to Develop Over 300 EV Charging Stations in The New Territories of Hong Kong
PLAYA VISTA, CA, Feb. 22, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- American Wealth Mining Corporation (OTC:HIPH) ("AWM" or the "Company”) is proud to announce that New Energy Asia Pacific Company Limited (“New Energy”), a Hong Kong holding entity that the Company recently invested in that provides electric construction vehicles and electric charging stations, had entered into a Memorandum of Understanding (MOU) with Sino Express Intelligence Co,. Ltd. (“Sino Express”) to develop the “Smart Village Electric Vehicle (EV) Charging Station Business Plan” (“Smart Village”).
Over the next five years, the Smart Village project targets to create over 300 electric vehicle (EV) charging stations in rural areas located in the New Territories of Hong Kong – comprising of 600-1,200 ultra-fast EV charging chargers and 5,000 – 7,000 medium-speed EV charging chargers. This region covers a large proportion of Hong Kong's land area, accounting for 86.2%, and is home to about half of the city's population. This green initiative will be beneficial for the residents of these areas.
Under the MOU, New Energy has agreed to make Sino Express its distributor of construction EVs in Hong Kong, with preferential pricing for its construction EVs to be used in the development of the Smart Village project, while Sino will make New Energy the exclusive supplier of EV chargers for the Smart Village project.
Over the course of the initial stage of the simple sales partnership with Sino Express, Sino Express will buy EV chargers from New Energy, and New Energy will provide installation and maintenance guidance. In the subsequent phase, New Energy will invest in constructing big EV charging stations, and Sino Express will become the exclusive operator of these stations in Hong Kong. Both parties aspire to establish a long-term partnership that is equitable and beneficial for each other. The financial details of the second stage will be determined after the first stage has commenced.
The partnership between New Energy and Sino will lead to increased efficiencies and swifter deployment of renewable energy projects, providing more sustainable energy options to customers, further establishing New Energy’s position as a renewable industry leader in the EV charging and electric construction vehicles sector in Hong Kong.
Ryan Fishoff, CEO of AWM, commented, “New Energy’s MOU with Sino is another significant milestone that establishes New Energy as an industry leader in commercial EVs and sustainable development in Hong Kong. The Company has accumulated a significant position in New Energy, one that we expect to continue to leverage to meet the Company’s strategic objectives as New Energy expands its reach globally. We are working on several initiatives with New Energy, both globally and domestically, to maximize the potential of our investment. EV construction vehicles are the new frontier and New Energy is at the forefront of this new and growing sector. The Company’s JV with New Energy will allow us to capitalize on these trends with exclusive distribution rights of these vehicles in territories around the globe.
Management is working to develop distribution relationships in these locations with the aim to produce steady revenue that will help increase shareholder value. I look forward to providing more updates in the coming weeks about New Energy’s development in Hong Kong, our progress developing our New Energy JV opening distribution relationships in these territories, and strategic initiatives.”
About New Energy Asia Pacific Co. Ltd, New Energy Asia Pacific Co., Ltd. (“New Energy”), a Hong Kong corporation, provides various types of electric construction machinery to meet customers' needs. New Energy is committed to create an eco-friendly construction environment and to pioneer the transition of sustainable construction practices.
About American Wealth Mining Corporation American Wealth Mining Corporation (“AWM”) focuses on sustainability and maintaining a portfolio of investments in line with the Company’s vision that generates long-term sustainable shareholder value. AWM also focuses on building a financial educational platform to meet the increasingly diverse and complex needs of consumers.
Forward-Looking Statements This press release includes statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. For a discussion of the most significant risks and uncertainties associated with the Company’s business, please review our filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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