SOS Limited Announces Entering into Strategic Partnership Framework Agreement with Lepu Sodium Power for SOS to Optimize its Electricity Use

Rhea-AI Summary

SOS (NYSE: SOS) has announced a strategic framework agreement with Lepu Sodium Power (Shanghai) Technology Co., to optimize electricity usage in SOS's computing and data centers. The partnership focuses on green energy solutions, leveraging Lepu's expertise in photovoltaic cells, energy storage technologies, and sodium-ion battery materials.

SOS, specializing in blockchain technology, operates international blockchain-powered digital trade platforms and supercomputing data centers. The company provides services in big data, cloud computing, IoT, and digital solutions. Under the agreement, both companies will establish a long-term partnership based on mutual trust and equality, sharing resources while maintaining confidentiality to maximize mutual benefits.

Positive

• Strategic partnership to optimize electricity costs for computing and data centers
• Access to green energy solutions and advanced battery technology
• Potential reduction in operational expenses through energy optimization

Negative

• Framework agreement is preliminary with no specific commitments or financial terms
• Implementation timeline and concrete benefits are not specified

NEW YORK, Feb. 11, 2025 /PRNewswire/ -- SOS Limited (NYSE: SOS) ("the Company" or "SOS") today announced entering of a strategic framework agreement with Lepu Sodium Power (Shanghai) Technology Co., Ltd., marking the initial step forward in their collaboration in the field of green solution energy. The partnership is intended for Lepu Sodium Power to provide electricity optimizing solutions to SOS for its computing and data centers.

As a high-tech enterprise specializing in blockchain technology, SOS Limited boasts extensive expertise in big data, cloud computing, IoT, and digital solutions. In recent years, the Company has been committed to delivering digital transformation services worldwide by leveraging blockchain technology, and satellite communications. SOS has successfully developed an international blockchain-powered digital trade platform and supercomputing data service centers.

Lepu Sodium Power brings extensive experience in photovoltaic cells, energy storage technologies, and sodium-ion battery materials, and has initiated related manufacturing projects.

Under the agreement, both parties intend to establish a long-term and stable partnership based on mutual trust and equality while sharing their respective resources. They will work closely to develop collaborative plans, address potential challenges, and promote project implementation. All information provided by the parties in the partnership will remain strictly confidential to maximize the mutual benefits.

"We intend to work with Lepu Sodium Power to optimize our electricity use by exploring green energy solutions." said Wang Yandai, the CEO of SOS Limited. "Partnering with an industry leader like Lepu Sodium Power will help us achieve greater breakthroughs in green energy."

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. SOS may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about SOS' beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and SOS does not undertake any obligation to update such information, except as required under applicable law.

About SOS Limited

SOS is an emerging blockchain-based and big data-driven marketing solution provider. SOS is also engaged in blockchain and cryptocurrency operations, which currently include cryptocurrency mining and may expand into cryptocurrency security and insurance in the future. Since April 2021, we launched commodity trading via our subsidiary SOS International Trading Co. Ltd and Weigou International Trading Co Ltd. Major trading commodity includes mineral resin, soybean, wheat, sesame, liquid sulfur, petrol coke and latex etc. For more information, please visit: http://www.sosyun.com/.

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SOURCE SOS Ltd.

FAQ

What is the purpose of SOS 's partnership with Lepu Sodium Power?

The partnership aims to optimize electricity usage in SOS's computing and data centers through green energy solutions, leveraging Lepu's expertise in photovoltaic cells and energy storage technologies.

How will the SOS-Lepu partnership affect SOS's operational costs?

The partnership is expected to optimize electricity usage, potentially reducing operational costs for SOS's computing and data centers, though specific cost savings are not detailed in the agreement.

What technologies will Lepu Sodium Power provide to SOS ?

Lepu Sodium Power will provide solutions involving photovoltaic cells, energy storage technologies, and sodium-ion battery materials to optimize SOS's electricity usage.

What are the key terms of the SOS-Lepu strategic framework agreement?

The agreement establishes a long-term partnership based on mutual trust and equality, with both parties sharing resources while maintaining confidentiality. Specific terms and commitments are not disclosed.