ZHUHAI, China, March 14,
2023 /PRNewswire/ -- Powerbridge Technologies Co.,
Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company"), a provider of
multi-industry technology solutions, has announced that Powerbridge
has successfully developed the prototype of HNT Router Miner and
software system based on the Helium network. The Helium Network is
a decentralized wireless network designed to provide efficient
connectivity for IoT devices.
Compared to traditional wireless networks, the Helium Network
allows for greater scalability, lower costs, and improved security.
The Helium Router is a key component of this network, providing
users with a simple and efficient way to connect their IoT devices.
According to a report by Markets and Markets, the global IoT market
size was valued at $300 billion in
2021 and is expected to reach $650
billion by 2026, growing at a compound annual growth rate
(CAGR) of 16.7% during the forecast period. This growth is being
driven by the increasing adoption of connected devices and the
growing need for efficient and secure data communication and
management.
Stewart Lor, CEO of Powerbridge
Technologies, commented: "We are
thrilled to unveil our HNT Router Miner prototype. This
breakthrough solution is a significant step forward for us in the
web3.0 and blockchain arena, and we believe that our new generation
devices will provide efficient mining solutions for global
users. With our focus on
cutting-edge technology solutions, the Company is well positioned
to capitalize on the growing IoT market and deliver long-term value
to its shareholders."
About Powerbridge Technologies
Powerbridge
Technologies Co., Ltd. (Nasdaq: PBTS) is a leading provider of
multi-industry technology solutions. The Company offers software
and platform applications, IoT platform services and intelligent
devices, supply chain platforms and interactive media services,
metaverse and digital services, and cryptomining platform services
and cryptocurrency asset 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 www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please contact:
Corporate Investor Relations
Powerbridge Technologies Co., Ltd.
Email: ir@powerbridge.com
Website: www.powerbridge.com/ir/
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SOURCE Powerbridge Technologies Co., Ltd.