WANG AND LEE GROUP, INC. ANNOUNCES STRATEGIC INVESTMENT IN TROOPS, INC. TO DRIVE INNOVATION IN SMART BUILDING SOLUTIONS AND EXPAND ESG TOKEN REWARD ECOSYSTEM
Hong Kong, March 31, 2025 (GLOBE NEWSWIRE) -- Wang and Lee Group, Inc. (NASDAQ:WLGS) today announced its strategic investment in Nasdaq-listed TROOPS, Inc. (NASDAQ:TROO). This collaboration aims to unlock synergies by integrating Wang and Lee's cutting-edge AI-driven advertising media, smart home devices, and blockchain-powered token rewards into TROOPS' expansive infrastructure.
The proposed investment will enable Wang and Lee to deploy its AI-driven digital advertising platforms and IoT-enabled smart home solutions across TROOPS' potential 200-building portfolio, reaching its vast number of tenants and visitors. Central to the partnership is the introduction of an Environmental, Social, and Governance("ESG")-aligned token rewards ecosystem, where users engaging with these technologies will earn redeemable tokens. These tokens can be exchanged for exclusive financial and insurance benefits, including discounts on electric vehicle ("EV") insurance premiums, reduced loan interest rates, and other value-added services such as LED lights.
Synergies and Strategic Vision
By leveraging TROOPS' established real estate footprint, Wang and Lee seeks to accelerate adoption of its smart technologies while creating a seamless, interconnected ecosystem. Key initiatives include:
- AI-Powered Ad Media: Delivering hyper-targeted, data-driven advertising to building tenants and visitors, enhancing revenue streams for both companies.
- Smart Home Device Integration: Installing Wang and Lee's IoT devices to optimize energy efficiency, security, and convenience for residents.
- Tokenized Rewards System: Incentivizing user engagement through blockchain tokens tied to sustainability goals ("ESG"), redeemable for financial products that promote greener choices, such as EV insurance discounts and LED lights.
"This investment marks a transformative step in our mission to build smarter, more sustainable communities," said Mr. Ho, CEO of Wang and Lee. "TROOPS' vast network provides the ideal platform to scale our AI and IoT innovations while rewarding users for participating in a greener economy. Together, we will redefine how technology enhances everyday living and drives ESG impact."
Driving ESG Value and Market Growth
The partnership aligns with global ESG priorities by promoting energy-efficient technologies and financially empowering users through tokenized rewards. Wang and Lee anticipates heightened demand for its smart devices and ad services as TROOPS' buildings become hubs of innovation, further solidifying the company's leadership in property technology and blockchain solutions.
Transaction Details
The investment is subject to customary closing conditions, regulatory approvals, and final agreement terms. Further details will be disclosed upon finalization.
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.
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WANG & LEE GROUP, Inc.: https://www.wangnleegroup.com/
Email: [email protected]
