Antelope Enterprise Announces First Phase of Planned Energy Production Sold Out
Rhea-AI Summary
Antelope Enterprise Holdings (NASDAQ: AEHL) has announced that the first phase of its planned energy supply project in Midland, Texas, consisting of 9 MW of electricity generation, has been sold out. The company, which is the majority owner of Hainan Kaylin Cloud Services Technology Co., , plans to further develop the project to increase power generation output.
CEO Will Zhang highlighted that natural gas can achieve higher thermal efficiencies compared to other fossil fuels and is considered a reliable fuel source for consistent power generation. The company anticipates strong demand for energy due to the growth of AI data centers and computing power centers in the US, and plans to implement additional energy production in the future.
Positive
- First phase of 9 MW electricity generation project sold out
- Plans to increase power generation output in future phases
- Anticipates strong demand for energy due to growth of AI data centers
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, AEHL declined 6.65%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The Company’s 9 MW of Electricity a Sought-After Resource
NEW YORK, NY, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (“Antelope Enterprise”, “AEHL” or the “Company”), the majority owner of Hainan Kaylin Cloud Services Technology Co., Ltd (“Kylin Cloud”), a provider of energy infrastructure solutions through natural gas power generation, and the majority interest owner of KylinCloud, a livestreaming e-commerce business in China, today announced that its first phase of its planned supply project in Midland, Texas, has been sold out. The Company’s energy supply project will be further developed to increase its power generation output.
Will Zhang, CEO of Antelope Enterprise, commented “We are pleased to announce that our first phase of 9 MW of electricity generation has been sold out. Natural gas can achieve significantly higher thermal efficiencies than other fossil fuels and considered a reliable fuel source allowing for consistent power generation with predictable output.”
“We believe that there will be additional strong demand for energy due to the growth of AI data centers and computing power centers in the US, and we plan to implement additional energy production in the coming periods,” CEO Will Zhang concluded.
About Antelope Enterprise Holdings Limited
Antelope Enterprise Holdings Limited (“Antelope Enterprise”, “AEHL” or the “Company”) engages in energy infrastructure solutions through natural gas power generation via its wholly owned subsidiary AEHL US LLC ("AEHL US") and holds a
Safe Harbor Statement
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, without limitation, the continued stable macroeconomic environment in the PRC, the PRC technology sectors continuing to exhibit sound long-term fundamentals, and our ability to continue to grow our energy, livestreaming ecommerce, business management and information system consulting businesses. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023 and otherwise in our SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
Contact Information:
Antelope Enterprise Holdings Limited
Edmund Hen, Chief Financial Officer
Email: info@aehltd.com
Precept Investor Relations LLC
David Rudnick, Account Manager
Email: david.rudnick@preceptir.com
Phone: +1 646-694-8538
FAQ
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