Wang & Lee Group, Inc. (NASDAQ: WLGS), a leader in sustainable energy and blockchain solutions, announced a US$100 million sales agreement with Sino Wealth Limited and Hong Kong landowners to create Hong Kong’s first solar-powered crypto battery farm. The landowners have already provided a US$1 million non-refundable deposit. This project, spanning seven land plots, integrates renewable energy and crypto-mining using Wang & Lee’s technology. It utilizes Hong Kong’s solar resources, which have an average annual solar irradiance of 3.8–4.2 kWh/m²/day—similar to Japan (3.5–4.0 kWh/m²/day) and better than Germany (2.8–3.2 kWh/m²/day).
Solar Viability in Hong Kong: A Strategic Opportunity
Hong Kong’s 4,000+ hectares of fallow agricultural land (43 million sq. ft) provides space to compensate for lower solar intensity with scalable infrastructure. Advanced lithium-ion battery storage and efficient panels ensure optimal energy capture, supporting competitive crypto-mining and clean energy distribution.
Global Solar Context (solar irradiance comparison):
- Hong Kong: 3.8–4.2 kWh/m²/day (moderate potential, suited for decentralized projects).
- Saudi Arabia: 6.0–6.5 kWh/m²/day (leading in utility-scale solar).
- Germany: 2.8–3.2 kWh/m²/day (actively adopting despite lower irradiance).
- Australia: 5.5–6.0 kWh/m²/day (high potential in dry regions).
Project Overview: A Dual-Purpose Green Energy Hub
The project uses Wang & Lee’s solar battery technology and advanced lithium-ion energy storage systems—developed with City University of Hong Kong—to create a unique facility that:
1. Powers Sustainable Crypto-Mining: Solar energy powers on-site blockchain mining, positioning Hong Kong as a leader in low-carbon crypto infrastructure.
2. Supplies Clean Energy to Communities: Renewable electricity will be distributed to New Territories villages, reducing fossil fuel use and supporting Hong Kong’s 2050 Carbon Neutrality goals.
The pilot farm shows how Hong Kong’s solar resources can be maximized:
- Smart Energy Capture: AI-driven panels adjust to optimize sunlight absorption.
- 24/7 Lithium-Ion Storage: Ensures consistent power for crypto-mining and community energy, even in bad weather.
- Scalability: The model is replicable across 40+ potential sites, given that 99.9% of Hong Kong’s fallow land is still available.
Strategic Synergy with Existing Technologies
The crypto battery farm uses Wang & Lee’s lithium-ion battery systems—originally for electric bicycles and robotics—to ensure constant energy. This allows for efficient power storage during peak sunlight, ensuring continuous mining and community energy supply.
Leadership Commentary
Mr. Ho, CEO of Wang & Lee Group, Inc., said:
“This project is Hong Kong’s first crypto battery farm accessible to all villagers in the New Territories. It’s a step towards a self-sustaining green economy. Hong Kong has 600 villages with over 4,000 hectares of unused farmland. With the recent economic downturn and property market decline, we offer landowners an alternative to invest in innovative technology to generate crypto income, given the falling property prices. We see great potential for solar-powered crypto farms and expect Bitcoin’s price to exceed US$100,000. This US$100 million deal with landowners shows confidence in this vision. We are pleased to have reached an agreement with landowners to advance our company. Wang & Lee, as a licensed contractor, will provide crypto infrastructure, roads, electrical, mechanical, and fire safety services.”
Strategic Advantages
- Efficiency: Efficient panels and storage reduce irradiance gaps, achieving 85% of desert-based project yields.
- ESG Alignment: Meets institutional demand for low-carbon crypto infrastructure.
- Land Utilization: Turns idle plots into revenue-generating assets, supporting rural communities.
Market Differentiation
– Institutional Appeal: Attracts ESG-focused investors seeking sustainable revenue streams.
– Scalability: Offers a model for global replication, combining solar and crypto.
For media inquiries, contact:
WANG & LEE GROUP, Inc.
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This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially.
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