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ZHUHAI, China, July 12 /PRNewswire/ -- Powerbridge Technologies (Nasdaq: PBTS), a leading provider of multi-industry technology solutions, announce today that its subsidiary, Ascendent Insight Education Co., Ltd. (“AIedu”) has formed a strategic partnership with a prominent player in the education industry to drive innovation in AI education. This partnership aims to leverage the partner company's extensive user base and market presence to accelerate the adoption of AIedu's flagship product, the Little Egg App.

The partner company has secured significant funding from renowned investors such as Qualcomm China, Zhen Fund, and New Oriental. Their market reach and financial backing bring added strength to the partnership with AIedu. With a nationwide coverage in China, the partner company serves over 10 million children, nearly 1 million teachers and 31.9 million parents, establishing itself as a one of the market leaders in the education industry.

Through this strategic partnership, AIedu will integrate its AI-engineered reading app (The Little Egg App) with the partner company's extensive user base, creating an enriched and interactive learning environment for pre-school children. The Little Egg App is designed to inspire students' passion for learning and foster creativity through the power of AI and ChatGPT.

Stewart Lor, CEO of Powerbridge Technologies, expressed optimism about the partnership's potential: "With AIedu already demonstrating impressive growth, this partnership presents significant opportunities for accelerated growth at AIedu. It aligns well with our long-term growth vision and solidifies our position as a significant player in AI education innovation.”

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.

About Ascendent Insight

AIedu is a provider of AI-powered apps and online educational services focusing on guided-reading solutions, with over 20,000 reading materials and a user base of more than 400,000 young children. It serves over 4,000 nurseries and kindergartens with 40,000 educators supported by 10 operational centers and 150 city partners across China.

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.