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ZHUHAI, China, July 6, 2023 /PRNewswire/ -- Powerbridge Technologies, a provider of multi-industry technology solutions (Nasdaq: PBTS), has announced a strategic joint venture to establish Agro Digital Fintech Co., Ltd. (“Agro Digital or the Company”), a fintech and asset digitization company focused on the agriculture and livestock farming industries. The Company aims to create a robust digital financial ecosystem that drives value creation and leverages China's Rural Revitalization Initiative ("the Initiative").

The Initiative is a long-term development plan aimed at promoting economic growth, improving living standards, and addressing the challenges faced by rural areas in the country, including poverty alleviation, infrastructure development, agricultural modernization, rural entrepreneurship, and improvement of social services. The Initiative is focused on bridging the economic and social gap between rural and urban areas, promoting sustainable agriculture, and enhancing the overall well-being of rural communities. The market size brought by the Initiative is expected to reach approximately 4.5 Trillion U.S. Dollars by 2025.

Agro Digital utilizes advanced technologies such as IoT, blockchain, AI, and big data to build an innovative fintech platform helps drive the digital transformation of the agriculture and livestock industries, enabling the digital encapsulation of production and transaction processes. By leveraging digital data, the Company assists customers enhancing their financial profiles and improving their access to credit and financial services. The platform also allows financial institutions and funders to gain a comprehensive understanding of customers' businesses, leading to more accurate risk assessments and tailored financial services solutions.

Stewart Lor, CEO of Powerbridge Technologies commented: "We are delighted to launch Agro Digital to leverage on the huge market opportunities by the Initiative in the next few years. By utilizing cutting-edge technologies and fostering financial inclusion, the Company can help empower rural communities and promote sustainable agricultural practices. We believe Agro Digital will contribute to our overall growth and bring values to our partners and investors."

About Powerbridge Technologies

Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a leading provider of multi-industry technology solutions services. The Company operates in several segments of business, including software and digital applications for various industries, cross-border trade platforms and global trade systems, digital fintech services for agriculture and consumer products, and cryptomining machines and cryptocurrency operations.

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 SEC fillings. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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Powerbridge Technologies Co., Ltd.