WANG & LEE GROUP ANNOUNCES SUCCESSFUL COMPLETION OF HONG KONG’S FIRST LOCALLY DEVELOPED SMART FLOORING PROJECT, TRANSFORMING STEPS INTO CLEAN ENERGY
Rhea-AI Summary
Wang & Lee Group (NASDAQ: WLGS) has successfully completed Hong Kong's first locally developed smart flooring system that converts footsteps into electricity. The project, developed with City University of Hong Kong, has been installed in the Hang Seng Bank Headquarters Building's high-traffic corridor.
The innovative system uses piezoelectric and electromagnetic technologies to capture kinetic energy from pedestrian movement, storing it in batteries to power lighting, digital signage, and other low-voltage applications. This achievement represents a significant advancement in sustainable infrastructure and clean energy technology.
Following this success, WLGS plans to expand the deployment of similar systems across Hong Kong's transportation hubs, commercial complexes, and public spaces. The company is also accelerating R&D in complementary technologies, including solar-integrated pavements and AI-driven energy management systems.
Positive
- Successfully developed and installed first-of-its-kind smart flooring technology in Hong Kong
- Strategic partnership with prestigious City University of Hong Kong
- Practical application in high-traffic commercial location (Hang Seng Bank HQ)
- Plans for expansion to multiple high-traffic locations across Hong Kong
Negative
- Early-stage technology with unproven commercial viability
- to low-voltage applications only
- Revenue generation and profitability metrics not disclosed
News Market Reaction 1 Alert
On the day this news was published, WLGS declined 10.65%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Innovative partnership with City University of Hong Kong paves the way for sustainable urban solutions
HONG KONG, March 28, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc. (Nasdaq: WLGS) (the “Company”) today announced the successful installation of the first ever developed and made in Hong Kong smart flooring system capable of converting kinetic energy from human footsteps into usable electricity. This milestone achievement, developed in collaboration with City University of Hong Kong (“CityU”), marks a transformative leap in sustainable infrastructure and underscores the Company’s commitment to its Environmental, Social and Governance initiative and advancing innovative clean energy technologies.
The groundbreaking smart flooring project, installed in the high pedestrian traffic corridor in Hang Seng Bank Headquarters Building in Central, Hong Kong, utilizes advanced piezoelectric and electromagnetic technologies to harness energy generated by pedestrian movement. This energy is stored in integrated batteries and can power lighting, digital signage, and other low-voltage applications, reducing reliance on traditional power sources.
Mr. Ho, CEO of Wang & Lee Group, stated, “Today’s success is a testament to Hong Kong’s spirit of innovation and our shared vision for a greener future. By turning everyday actions like walking into a source of clean energy, we are redefining urban sustainability. This project aligns perfectly with global efforts to combat climate change and demonstrates the tangible impact of smart city technologies.”
The initiative builds on the strategic partnership between Wang & Lee Group and CityU’s School of Energy and Environment, announced earlier this year. Combining the Company’s engineering expertise with CityU’s research capabilities, the project overcame technical challenges to optimize energy efficiency and durability for high-traffic environments.
Looking Ahead: Expanding Renewable Energy Frontiers
Buoyed by this achievement, Wang & Lee Group plans to deploy similar systems in transportation hubs, commercial complexes, and public spaces across Hong Kong. The Company is also accelerating Research and Development in complementary technologies, including solar-integrated pavements and AI-driven energy management systems, to create holistic renewable energy ecosystems.
“This is just the beginning,” added Mr. Ho. “Our mission is to make renewable energy accessible, scalable, and seamlessly integrated into daily life. We are actively exploring partnerships and pilot projects worldwide to bring these solutions to communities in need of sustainable infrastructure.”
About WANG & LEE GROUP, Inc.
WANG & LEE GROUP, Inc. is a Hong Kong-based construction prime and subcontractor engaging in the installation of Electrical & Mechanical Systems, which includes low voltage (220v/phase 1 or 380v/phase 3) electrical system, mechanical ventilation and air-conditioning system, fire service system, water supply and sewage disposal system installation and fitting out for the public and private sectors. It is also able to provide design and contracting services to all trades in the construction industry. Their clients range from small startups to large companies.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
For more information on the companies, please log on to
WANG & LEE GROUP, Inc.: https://www.wangnleegroup.com/
Email: ir@wangnlee.com.hk
Attachments
FAQ
What is the new smart flooring technology developed by WLGS?
Where has WLGS installed its first smart flooring project?
What are WLGS's expansion plans for the smart flooring technology?
What additional technologies is WLGS developing in 2025?
Who is partnering with WLGS on the smart flooring project?
