Powerbridge Technologies Announces Industry Expert Michael L. Zhao joining its Blockchain and Cryptocurrency Operations

ZHUHAI, China, Aug. 24, 2021 /PRNewswire/ — Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) (“Powerbridge Technologies” or the “Company”), a SaaS solutions and Blockchain applications provider, announced today that Michael Liang Zhao, a proven industry expert is joining Powerbridge Technologies to lead the Company’s technology development efforts in blockchain applications and cryptocurrency mining.

Mr. Zhao is an established and proven blockchain and cryptocurrency expert with many years of working experience, particularly in Bitcoin and Ethereum mining. He has participated and contributed to multiple international public blockchain projects. Before joining Powerbridge Technologies, Mr. Zhao had successfully led the development of a public blockchain focusing on data storage and analysis.

Mr. Zhao created and developed an AI-based and GPU integrated operating system (FXOS) designed for the mining of Ethereum and other GPU-based cryptocurrencies. FXOS is a fully automated operating system with AI intelligent functionalities that can significantly enhance mining efficiency. Mr. Zhao currently owns several Ethereum mining operations.

Mr. Zhao previously served as CTO at Nasdaq-listed companies Tudou Holdings (TUDO) and Ku6.com (KUTV), both companies were later acquired by publicly listed companies. He held various technology positions at Microsoft and IBM. Mr. Zhao co-founded and invested in several technology startups that received venture investments from top-tiered VCs such as Bertelsmann, Legend Capital, and Cherubic Ventures.

Stewart Lor, President and Chief Financial Officer of Powerbridge Technologies, stated: “The blockchain and crypto markets are growing and changing rapidly. We need someone with Michael’s caliber and expertise to lead our blockchain technology and applications development. I am pleased Michael is on board with us, and we are excited to working with Michael to continue growing our blockchain and crypto business.”

About Powerbridge Technologies

Powerbridge Technologies Co., Ltd., a growth-driven technology company is primarily engaged in SaaS solutions and Blockchain applications. Powerbridge SaaS integrates AI, big data, and IoT offering SaaS platforms for cross-border eCommerce, supply chain, data intelligence, and IoT applications and devices. Powerbridge Blockchain consists of BTC and ETH mining and digital assets, IPFS distributed network services, and industry-specific Blockchain applications. For more information, visit www.powerbridge.com/ir.

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,”http://finance.yahoo.com/”should,”http://finance.yahoo.com/”believe,”http://finance.yahoo.com/”expect,”http://finance.yahoo.com/”anticipate,”http://finance.yahoo.com/”project,”http://finance.yahoo.com/”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.

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SOURCE Powerbridge Technologies