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SAIHEAT Limited reports developments tied to its distributed computing power and energy infrastructure businesses. The company, formerly SAI.TECH Global Corporation, operates around modular computing power systems, BTC joint computing power, AI cloud computing services, and energy digitization and monetization solutions for energy asset owners.
Recurring updates for SAITW include liquid-cooled computing center products, waste heat recovery technology, small modular reactor initiatives, patent activity, customer equipment sales, audited financial results, and public-company status items. Company news also covers its Advanced Computing Center Ecosystem, computing heat recycling, and the transition of SAIHEAT into a Nasdaq-listed company through its 2022 merger with TradeUP Global Corporation.
SAI.TECH Global (NASDAQ: SAI, SAITW) has announced a new share repurchase program authorized by its board of directors. The program allows the company to repurchase up to US$1 million and up to 1 million shares of its ordinary shares until January 11, 2025. Repurchases may be made through various means, including open market transactions, private negotiations, and block trades, subject to market conditions and applicable regulations. The timing and amount of repurchases will comply with SEC Rules 10b-18 and 10b-5. The board will periodically review the program and may adjust its terms and size.
SAI.TECH Global (NASDAQ: SAI, SAITW) has appointed François Morin as its Nuclear Energy Strategy Consultant. Mr. Morin will evaluate market opportunities for small modular reactors in Asia and globally. He is a renowned nuclear sector expert, currently serving as a Director at the World Nuclear Association and has held various significant roles in the nuclear industry, including at the French Atomic Energy Commission and Framatome. His extensive background includes research, project structuring, and international cooperation. In his new role, he will provide strategic advice, establish expert contacts, and enhance SAI.TECH's global presence. CEO Arthur Lee emphasizes that Mr. Morin's expertise will be pivotal in driving innovation and sustainability in the energy sector.
SAI.TECH has announced the signing of two Memorandums of Understanding (MoUs) aimed at enhancing its HEATNUC product line for nuclear and Small Modular Reactor (SMR) markets in the Middle East. The first MoU, with Suzhou East Instrument Technology, focuses on exporting electrical and instrumentation control systems for nuclear projects. This includes a range of Class IE K1, K2, K3, and non-safety-related equipment, alongside nuclear safety management initiatives. The second MoU, with Kunshan Three-Dimensional Heat Exchanger, targets the joint production of nuclear and SMR equipment, leveraging high-end technology and alloy materials. The partnerships are designed to improve competitiveness and localization in the Middle East while exploring joint export ventures to international markets. These agreements signify SAI.TECH's commitment to innovation, quality, and growth in the global nuclear sector.
SAI.TECH Global (NASDAQ: SAI, SAITW) has signed a Memorandum of Understanding (MoU) with Al-Farabi Kazakh National University in Kazakhstan. This partnership aims to enhance educational and scientific research efforts in the region. It includes faculty and staff exchanges, educational training for teachers, student exchange programs, and joint research initiatives. Additionally, the collaboration will facilitate joint educational programs and curricula, including double diploma initiatives, and the publication of scientific materials. This move represents SAI.TECH’s strategic expansion into Kazakhstan, leveraging its AI computing and sustainable energy solutions to support regional development.
SAI.TECH Global (NASDAQ: SAI, SAITW) announces its participation at the 2024 SelectUSA Investment Summit on June 23 in Maryland. This event is a key platform for international tech startups entering the U.S. market. Dr. Tao Wu will present SAI's initiatives, including the Computing Heat Recycling R&D Center in Marietta, OH. This center features the Advanced Computing Center Ecosystem (ACCE) with WITBOX, HEATBOX, and USERBOX systems that enhance heat recycling from computing servers. The WITBOX system captures over 97% of generated heat, while HEATBOX manages heat supply, and USERBOX integrates heating solutions for various applications. Additionally, SAI's educational program on computing heat recycling has received local government accolades and community grants.
On June 17, 2024, SAI.TECH Global (NASDAQ: SAI, SAITW) announced that its Computing Heat Recycle Center Education Program has received grants from the Marietta Community Foundation (MCF). A total of $97,290 was awarded to local organizations, with $7,582 allocated to SAI.TECH’s program. This initiative aims to provide students with hands-on learning in data centers, AI, and computing heat recycling, also addressing food insecurity through greenhouse operations using recycled heat. The program is supported by SAI.TECH’s Advanced Computing Center Ecosystem (ACCE) and facilities in Marietta, featuring WITBOX, HEATBOX, and USERBOX systems to enhance heat recycling efficiency.
SAI.TECH Global has signed an MOU with Green Agritech for the Canada Manitoba Site Project to establish a 1MW computing data center. The project will utilize SAI's waste heat recovery technology to recycle heat for onsite use, marking the company's entry into the Canadian sustainable computing market. SAI will partner with OCEC for facility development, share revenues and costs with Green Agritech, and secure miners for the data center.
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