Bamford Achieves Butterfly Mark Recertification

 Bamford acknowledges the importance of nature, taking responsibility for their impact and placing sustainability and craftsmanship at the core. Working with Positive Luxury since 2020, Bamford have achieved Butterfly Mark recertification for a second time for their continuous improvement in embedding measurable, sustainability practice across its business operations.

In order to achieve the Butterfly Mark, companies must achieve a minimum of 50% in each area of assessment: Environment, Social, and Governance (ESG). Bamford achieved 61% in Environment, 64% in Social and 65% in Governance and 74% in Innovation, with a 30 point improvement overall and excelling in the following areas:

Sustainability Purpose: Bamford was founded on the belief that as humans we need to be mindful of our connection to the earth – to live consciously, respect nature’s resources and the land that provides for us. As a business, it acknowledges how heavily it relies on the generosity of nature to source the materials used to create their collections, whether that be the raw ingredients in the Beauty collection, or the Merino wool sheered from their sheep at their Cotswold farm, the business wants to ensure that the land that provides for us now is able to provide for future generations. To guide them on this path, the team have focused on four areas of responsibility to monitor their progress: keeping craft alive; enduring design; preferred materials; and Community & collaboration.

Circular Economy: Furthering their circular business principles, Bamford design their bath & body, lifestyle & wellness, and clothing collections with the environment in mind. In 2021 they launched their Merino Wool collection which included an extensive carbon footprint assessment from cradle to grave to understand the impact across the full product lifecycle as an initial step towards more circular thinking. This Merino collection creation was also all kept within the UK, with 96% lower transport emissions compared to standard merino supply chain (639 mile production journey vs 18,000). And then in 2022, Bamford’s Stem Cell Serum was the first of their products to harness the power of biotechnology. Using an innovative process to extract stem cells from small plant materials in a laboratory, these cells are synthesised to produce high-quality active ingredients on a large scale, helping to preserve nature and reduce their use of environmental resources. This process uses 90% less water than if agricultural land was used, the serum is made in a lab that uses 100% renewable energy, and the whole supply chain is located around the Swiss Alps to further reduce emissions. Both of these circular products have won Product Innovation of the Year in the 2022 and 2023 Positive Luxury Awards.

Health & Safety: Bamford operates within The Bamford Collection across 14 sites in the UK, and to ensure the safety and management of 750+ staff, they have an extensive health & safety policy with a clear list of responsibilities for different team members and a commitment that all staff must plan and perform their work in accordance with the policy and its associated procedures. The policy covers accident reporting, first aid, fire safety, homeworking, new & expectant mothers, training, and much more. In addition to physical health & safety, Bamford have specific work plans that address mental health topics which include training and options for flexible working.

Operations: Bamford take its social and environmental responsibility seriously, and expect its suppliers to do the same, as such during the recertification process, it has updated the Supplier Code of Conduct and achieved 100% compliance within their Beauty supply chain and over 75% compliance within their Fashion supply chain in 2023. In addition to this code, the company documents sustainable procurement objectives for suppliers and work on a basis of continual improvement with them to further integrate sustainability requirements in their procurement process.

Positive Luxury’s four-part methodology is uniquely tailored for the luxury industry, and the only certification that focuses on innovation and future sustainability risks. The Butterfly Mark is an independent certification that verifies for consumers and other stakeholders that a luxury business is operating in line with the highest standards of sustainability across the entire value chain.

“We are delighted to recertify Bamford with the Butterfly Mark for a second time, acknowledging their continuous improvement in sustainability and ESG practices. Bamford place nature at the centre of their brand and ensure that every decision taken considers their impact in society, materials and nature.” – Diana Verde Nieto, Co-Founder of Positive Luxury

“We are so proud to have recertified with Positive Luxury. It is important for us to carry the Butterfly Mark as it signals to our customers and communities that our approach to responsible, nature-led business has been verified through rigorous assessment. The guidance and support from Positive Luxury has been invaluable, helping to shape our strategy for continuous improvement.” – Will Dennis, Head of Sustainability of Bamford

Other luxury brands that have been awarded the Butterfly Mark include Monica Vinader, Tom Ford Beauty, Dior Couture, MCM, IWC Schaffhausen, Belvedere, The Macallan, Anya Hindmarch and more. By continuing as part of the Positive Luxury brand community, Bamford commits to exceeding standards set for social and environmental frameworks.

Learn more about Bamford at: https://www.positiveluxury.com/our-members/bamford/

Positive Luxury
Natalie Welsh
442035823212
https://www.positiveluxury.com/

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  • Beauty

APOS Systems Achieves Select Tier Partner Status with Snowflake

 APOS Systems Inc. today announced that it has achieved Select tier partner status from Snowflake, the Data Cloud company. As a Select partner, APOS can accelerate the digital transformation of its joint customers who can fully leverage the performance, flexibility and near-infinite scalability of the Snowflake Data Cloud.

APOS and Snowflake’s partnership provides SAP Analytics Cloud users with a live connection to the Snowflake Data Cloud through APOS Live Data Gateway, helping them to mobilize and unlock greater value from their data by eliminating the need to move or import data into the SAP Analytics Cloud data repository. With a live connection to Snowflake, SAP Analytics Cloud processes work directly with data

that resides in the Snowflake Data Cloud. Snowflake’s single, integrated platform delivers high-speed processing of live queries, resulting in excellent analytics performance. APOS Live Data Gateway allows for existing Snowflake modeling and security structures to be utilized and respected.

The Snowflake Partner Network unlocks the potential of the Data Cloud with a broad array of tools and partners. Certified partnerships and integrations enable customers to leverage Snowflake’s flexibility, performance, and ease of use to deliver more meaningful data insights.

“Customers are excited to have fast, efficient, and transparent live data access to the valuable Snowflake Data Cloud data from SAP Analytics Cloud,” said Allan Pym, COO at APOS. “APOS Live Data Gateway is providing SAP Analytics Cloud users with the tools they need to unlock value from their Snowflake Data Cloud data, resulting in better, faster and more timely analytics for their decision making. Analytics users also benefit from simplified data navigation through the semantic layer of the Live Data Gateway, all while IT rests assured that no data is being replicated, and that Snowflake authentication and security are tightly integrated and enforced.”

“APOS and Snowflake are working together to expand the data and analytics options for the SAP Analytics Cloud business intelligence users so they can efficiently leverage their Snowflake Data Cloud assets. APOS Live Data Gateway works with Snowflake’s single, integrated platform to efficiently access and serve growing data environment scenarios. We look forward to seeing our joint customers reap the benefits of this offering,” said David Richert, Principal Data Platform Architect, Snowflake.

To become a Snowflake partner, get access to Snowflake’s self-service partner resources, please visit www.snowflake.com/partners.

About APOS:

APOS is a long-trusted software provider with over 20 years experience in delivering solutions to extend Business Intelligence and analytics technologies. APOS produces and supports software solutions in two key areas: unified data connectivity software, and platform management solutions for BI and analytics. APOS data connectivity technology provides expanded live data connections options for SAP Analytics Cloud, and across the SAP solution landscape. APOS data modelling technology creates a unified semantic layer allowing your enterprise stack to consume data from a wide variety of cloud-based, OLAP, relational, and application data sources. APOS also provides a wide range of long-trusted technologies to simplify management and strengthen governance of SAP BI deployments. APOS well managed BI, well managed analytics, and hybrid BI and analytics products improve returns on investments and time to value for our global base of customers.

For more information, press only:

Allan Pym

apym@apos.com

+1 (519) 894-2767

APOS Systems

Allan Pym

519 894-2767

https://www.apos.com

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  • Data Management

Analogue Achieves Record-High Contracts-in-Hand of HK$12.9 Billion in First Half of 2022, Consolidated Net Profit at HK$119.2 Million

Analogue Holdings Limited (“Analogue” or the “Company”, together with its subsidiaries, collectively the “Group”) (stock code: 1977), a leading electrical and mechanical (“E&M”) engineering service provider in Hong Kong, today announced its interim results for the six months ended 30 June 2022 (“the Period” or “1H2022”), having achieved revenue growth and record-high contracts-in-hand amid market challenges. The Group’s total revenue grew by 29.5% year-on-year to HK$3,022 million, mainly attributable to the increase in revenue from the Building Services segment. Gross profit also soared by 41.6% year-on-year to HK$457.6 million, thanks to the higher revenue and higher margins from the Building Services segment. The gross profit margin improved to 15.1%. Consolidated net profit would have increased by 5.9% year-on-year to HK$119.2 million before provision for potential litigation liabilities, with the profit attributed to owners of the Company reported at HK$59.2 million. The Board has proposed an interim dividend of HK4.27 cents per share, representing a dividend payout ratio of 50%.

Highlights
— Record-high contracts-in-hand amounted to HK$12.9 billion, up 8.8% year-on-year
— Total revenue increased by 29.5% to HK$3,022 million
— The consolidated net profit at HK$119.2 million before provision for potential litigation liabilities. The profit attributed to owners of the Company reported at HK$59.2 million
— Gross profit margin rose from 13.8% to 15.1% year-on-year
— Healthy cash position with cash balance amounting to HK$1,073.7 million
— High dividend payout ratio maintained at 50%

The value of contracts awarded to the Group during the Period grew significantly by 96.6% year-on-year, while its contracts-in-hand also reached a record high of HK$12,919 million as at 30 June 2022, providing a strong foundation for the core business’ further expansion. The Group’s tendering activities remained active during the Period, with 675 tenders or quotations valued at over HK$1 million each.

Dr. Otto Poon Lok-to, Chairman of Analogue Holdings Limited, said, “Despite the many challenges encountered, I believe we have made a good start in 2022, maintaining growth in business scale and new contract wins, as well as achieving record-high contracts-in-hand. Over the course of the Group’s 45-year journey, we are honoured to have fortified our leading position in the industry, kept abreast of developments over the years and continued to adhere to and reinforce the best business practices. Leveraging our ‘New Technology, New Market, New Business Model’ master plan, we are well positioned to enjoy a more advantageous and distinguished position in the industry and to sustain the long-term growth of our business.”

As the Group’s major growth driver, Building Services segment’s revenue increased by 43.7% to HK$2,036 million. Its recurring revenue stream increased with new maintenance contracts worth more than HK$127 million secured. Contracts-in-hand of this segment reached HK$6,391 million, in which HK$3,534 million were newly secured projects, including infrastructure, shopping malls, office buildings, data centres, residential developments and hotels in Hong Kong, Macau as well as the Mainland China. Moreover, in view of the urgently-needed capacity of mortuaries due to the increase in mortality rate during the COVID wave in 1H2022, the Group proactively adopted its proprietary ATAL Building Services Prefabrication and Modularisation Construction Technology (“ABSPM”) coupled with digitalisation technologies for improved quality, safety, cost and project management of a public mortuary project, and successfully completed it by mobilising teams of workers on very short notice. Leveraging its strong track record, the Group is well placed to seize the upcoming business opportunities generated from the rapid development of data centres, as well as the expansions of railway lines and hospitals in Hong Kong.

As of 30 June 2022, Environmental Engineering segment’s contracts-in-hand amounted to HK$4,953 million, including five new contracts that underscore our expertise in project management services, as well as operation and maintenance contracts for electrical and mechanical works for water, wastewater and solid waste management. The Group will continue to implement innovative approaches for reinforcement, protection, operation and maintenance of treatment plants to extend their working life and ensure they are operated and maintained at optimal capacity to serve the Hong Kong community. On the research and development (R&D) front, the Group’s proprietary “Digital Twin technology” was further advanced to monitor the influent quality of incoming sewage at a sewage plant in a more efficient manner. Tendering activities outside Hong Kong and the Mainland China included water treatment works at Kaliwa and Wawa, both in the Rizal Province of the Philippines.

Information, Communications and Building Technologies (“ICBT”) segment’s contracts-in-hand rose by 13.0% year-on-year to HK$1,059 million. To support the development of Hong Kong’s “Smart City” and “Smart Economy” visions, the Group has spared no effort in adopting green and intelligent building solutions which integrate a wide range of information and communications technologies with AI, robotic solutions, energy and management technologies. As a result of its strong R&D capabilities, the Group’s AI Energy Management Platform, Internet of Things (“IoT”) applications, Video Analytics technology, and “walkable” Photovoltaic (“PV”) have been chosen for a world-class 36-storey smart office and commercial building project in Central, Hong Kong’s prestigious CBD. Going forward, the Group will continue to deploy digital technologies to its maintenance service capabilities and invest to drive digital transformation across smart building technologies.

The Lifts and Escalators segment’s contracts-in-hand amounted to HK$516 million as of 30 June 2022, with the majority of profit contributed by maintenance contracts. In the overseas markets, our Anlev Elevator Group (“Anlev”) secured strategic orders for mass transportation in Brazil and the hotel industry in Mexico. It is also finalising orders for an iconic and prestigious residential project in the United Kingdom through its wholly owned subsidiary Anlev (UK) Limited. To further expand its global footprint, the Group will seek new distributors in the United States, Europe and Southeast Asia. In parallel, the Group is completing a RMB60 million expansion of its Nanjing factory facilities to increase production capacity for lifts and escalators to meet the anticipated demand and growth of the global business.

In 2022, the Hong Kong Government has budgeted a steady increase of spending on public capital works projects of at least HK$100 billion in each of the coming years. Additionally, the annual construction output is estimated to reach HK$300 billion, which will include a variety of public and private housing, commercial development and infrastructure projects in new towns. An expenditure of HK$200 billion is also expected as part of the 10-year Hospital Development Plan with a further HK$300 billion investment in the second 10-year Hospital Development Plan. All of these plans, together with Hong Kong’s Smart City and Smart Economy visions, the thriving development of data centres and expansion projects of mass transit railway in Tung Chung, Hung Shui Kiu, Tuen Mun and Kwu Tung present tremendous opportunities. The Group is well-positioned to capitalise on these many growth opportunities and add value to customers by leveraging its capacity for innovation, digital technology, and passion to deliver results more effectively, efficiently and sustainably.

Leveraging its successful experience in equity partnership with Transel Elevator & Electric Inc. (“TEI”), one of the largest independent lifts and escalators companies in New York, and the establishment of Anlev subsidiaries in the United Kingdom, the Group will seek synergistic business partners where appropriate to expand its footprint, create new business opportunities and build new revenue streams.

Dr Poon concluded, “Being buoyed by the ‘can-do spirit’ of the new Hong Kong SAR Administration, we will grasp the tremendous opportunities arising from the increasing infrastructure development moving onward, leveraging our depth of expertise and experience in the industry. In addition to the local market, we are also cautiously optimistic about the development opportunities in various overseas countries that are now proceeding with major infrastructure developments, which have added motivation to our global expansion efforts. With our motto ‘We Commit, We Perform, We Deliver’, we have confidence that Analogue will witness further business growth in the years to come.”

For more details of the 2022 Interim Results, please refer to the announcement that has been filed with The Stock Exchange of Hong Kong Limited.
https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0826/2022082600423.pdf

About Analogue Holdings Limited
Established in 1977, Analogue Holdings Limited is a leading electrical and mechanical (“E&M”) engineering service provider headquartered in Hong Kong, with operations in Macau, Mainland China, the United States and the United Kingdom. Serving a wide spectrum of customers from public and private sectors, the Group provides multi-disciplinary and comprehensive E&M engineering and technology services in four major segments, including Building Services, Environmental Engineering, Information, Communications and Building Technologies (“ICBT”) and Lifts & Escalators.

The Group also manufactures and sells Anlev lifts and escalators internationally and has entered into an alliance with Transel Elevator & Electric Inc. (“TEI”), one of the largest independent lifts and escalators companies in New York, the United States. The Group’s associate partner, Nanjing Canatal Data Centre Environmental Tech Company Limited (603912.SS), is specialised in manufacturing of precision air conditioners.






Topic: Press release summary

VCREDIT 1H2022 Achieves a Solid Performance

VCREDIT Holdings Limited (“VCREDIT” or the “Group”; stock code: 2003.HK), a leading independent online consumer finance provider in China, announced its unaudited interim results for the 6 months ended 30 June 2022 (the “Period”). During the Period, the Group achieved a solid performance from operations despite a number of challenges, including outbreaks of the COVID-19 coronavirus and lockdown of Shanghai and other cities in China and deterioration in the real estate sector. The Group record a total income of RMB1,582.5 million, and an adjusted Net Profit of RMB331.5 million. The Board has recommended the distribution of an interim dividend of HK10 cents per ordinary share of the Company (the “Share”) for the Period to shareholders of the Company.

Investment Highlights

1H 2022(RMB million)
Total Income: 1582.5
Operating Profit: 430.4
Net Profit: 328.0
Adjusted net profit: 331.5
Proposed Interim dividend: HK10 cents

During the Period, the Group achieved solid performance from operation in line with its expectations, notwithstanding adjustments to its business strategy and model to accommodate alignments between its product and regulatory limits on consumer finance interest rate and risks within the Chinese macro-economy arising from intermittent COVID-19. At the same time, the Company continued to make evolutionary adjustments to risk management model to reflect market developments and behavioural changes that affect demand for its products as the Group maintain its strategy of targeting higher quality prime and near-prime borrowers.

Its loan origination volume reached a record high of RMB24.64 billion for the Period, representing an increase of 9.4% compared to the six months ended June 30, 2021 and an increase of 35.5% compared to the six months ended December 31, 2021. Outstanding loan balance exceeded RMB20.49 billion as of June 30, 2022, representing an increase of 31.1% compared to RMB15.64 billion as of December 31, 2021.

Initiate strategy changes that foster flexibility

By using dynamic data analytics to constantly refine its penetration as well as enriching its service to customers, the number of its registered users increased to 118.1 million, and are paying dividends as 89.2% of its loan volume for the Period was contributed by repeat borrowers. In order to reach and stay connected with more of its target customers, the Group has expanded its network of customer acquisition channels and use of industry platforms with priority given to channels that capture high-quality customers.

The collaborations with newly-partnered channels, such as OPPO, Xiaomi and China Telecom, are proving mutually beneficial. Notwithstanding, to improve customer experience on its digital platform, the Group continues to refine its online APPs along with various loan facilitation and post-loan management services.

Asset quality remains robust despite market downturn

Despite the added risks within China’s macro environment due to the effects of outbreaks of the COVID-19 and lockdown of Shanghai and other cities in China and deterioration in the real estate sector in 2021, which persisted throughout the first half of 2022, the Group manages to improve its delinquency ratios and asset quality metrics which are currently at levels that are considerably better than second half of 2021.

As a leading fin-tech enterprise, the Group leveraged its leading finance technology and robust risk control capabilities to mitigate the inherent risks to its business and continued to optimize its credit risk policy in order to ensure the Group captured and served higher-quality customers in the sterner operating environment. As a result, the Group’s credit control capabilities are evidenced by the outstanding performance of its asset quality metrics. The Group’s first payment delinquency ratio achieved a new record low of around 0.25% for the Period, whilst its M1-M3 ratio and M3+ ratio declined to 2.07% and 2.06%, respectively, in the second quarter of 2022 from 4.01% and 2.39%, respectively, in the fourth quarter of 2021.

Stable financial institutional partners drive sustainable growth to the business

By the end of the Period, the Company had long-term collaborative relationships with 80 external funding partners, including commercial banks, consumer finance companies and trusts. Through these long-standing cooperations, funding costs continued presentation a declining trend.

Furthermore, third-party guarantee companies and asset management companies secure the ecosystem in terms of funding flexibility and protection to its funding partners. Moreover, to strengthen the relationship with its funding partners, the Group has been exploring potential technology cooperation opportunities to empower its digital capabilities.

Outlook

Looking forward, as an innovation-oriented and technology-driven finance company, the Group will strive to maintain its agile, efficient and regulated business approach. Fulfilling its prime and near-prime customers under-served credit demands is its driving force to systemise marketing strategies, upgrade credit risk algorithms and models, and optimise product operation.

Moving forward, the Group intends to continue to execute these strategies to maintain its growth in the industry, including streamline and extend its credit solutions to better serve its customers to improve brand recognition and customer loyalty and creditworthiness, enhance risk-centered technology capability through constant research and development; consolidate regulated and long-term collaborations with licensed financial institutional partners and business partners; compliance with the laws and regulations as the first priority to maintain the sustainability of its business; cultivate a dynamic enterprise value and culture and grow its in-house talents.

About VCREDIT Holdings Limited (2003.HK)
VCREDIT Holdings Limited (stock code: 2003.hk) (“VCREDIT”) is a leading player in China’s consumer finance industry with over 10 years of track record. The Company caters to prime and near-prime borrowers underserved by traditional financial institutions by offering credit card balance transfer products, and consumption credit products. To match the funding needs for these products, the Company primarily engages institutional funding partners through three types of sustainable and scalable funding structures: trust lending, credit-enhanced loan facilitation and pure loan facilitation. Through such funding structures, VCREDIT provides institutional funding partners with solutions at varying levels of risk discretion and flexible profit-sharing arrangements.

For enquiries, please contact Hill+Knowlton Strategies Asia:
Vivian Kwan / Jennifer Wong
Tel: (852) 9146 6322 / (852) 2894 6255
Email: vcredit@hkstrategies.com






Topic: Press release summary

SKYX Achieves Historic U.S. Standardization Approval Vote – a Major Milestone Towards Mandatory Status for Safety of Consumers and Professionals

SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a “Sky Technologies”) (“SKYX,” “we” or “the Company”), a highly disruptive platform technology company, with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced that its universal safe installation specifications for plug & play ceiling outlet for lighting and fan products has been officially voted on and approved by ANSI/NEMA, the leading U.S. standardization organizations for the standardization of the SKYX safe weight-bearing plug and outlet/receptacle for ceilings (“SkyPlug”).

The American National Standards Institute (“ANSI”) is the leading U.S. standards approval organization, whose standards are regularly specified by most architects and engineers for U.S. residential and commercial buildings to ensure safety, quality and reliability. The National Electrical Manufacturers Association (“NEMA”) is a standards-developing organization that promotes the standardization of major U.S. electrical products for manufacturers. The achievement of an ANSI / NEMA vote approval is a lengthy and rigorous process, widely considered to be very difficult to achieve. Examples of other products that are standardized include the wall outlet, GFCI bathroom outlet and other key products that are included in every home in the U.S.

The standardization of the SKYX plug & play weight-bearing plug and outlet/receptacle for ceilings by ANSI/NEMA will universally provide SKYX’s product specifications to manufacturers to help save lives, time and money for both professionals and consumers, enabling them to install light fixtures and ceiling fans with a safe plug & play installation in just minutes, if not seconds.

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “This standardization approval vote opens the door to major sales and licensing opportunities, as well as a milestone achievement not only for SKYX, but for consumers and professionals across the nation. In today’s world, I believe that consumers and professionals shouldn’t have to risk their lives standing on ladders for a long time, while touching hazardous wires to install light fixtures and ceiling fans. Additionally, this is a significant development for lighting and fan companies as well as showrooms. It not only saves their customers both time and money, but enables them to safely and quickly replace light fixtures and ceiling fans, and purchase fixtures much more often for a variety of reasons – be that to match fashion trends, accommodate the changing of seasons, holidays and more.”

Mark Earley, former Chief Electrical Engineer at NFPA, former head of the NEC and current Chair of the SKYX Safety Advisory Board, said: “This is a significant achievement for SKYX and the safety of U.S. consumers and professionals. With hundreds of millions of installations taking place in the U.S., there are many risks associated with installing or replacing light fixtures and ceiling fans. These risks include injuries and deaths from fires, shocks, electrocutions, and falls from ladders. These risks can be reduced by using the SKYX safe plug and play installation method, that also saves installation time, which substantially reduces time spent on ladders.”

Bernard Zyscovich, a leading U.S. architect, internationally recognized design and thought leader, and Chair of the SKYX Architectural & Real Estate Advisory Board, said: “Having the ANSI/NEMA approval vote to include a design of a product is on top of the list for architects and engineers and a substantial deciding factor determining builders’ product acceptance. As it reflects product integrity, quality and most important, safety. This achievement by SKYX’s ceiling outlet receptacle and plug is ground-breaking.”

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the standard.

SKYX Platforms Corp. (NASDAQ:SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global patents and patent pending applications. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com or follow us on LinkedIn.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Forward-looking statements speak only as of the date they are made and include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company’s efforts and ability to drive the adoption of Sky’s Plug Smart Platforms into multi-family residential buildings and communities and adoption by hotels, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. In particular, the American National Standards Institute’s (ANSI) and the National Electrical Manufacturers Association’s (NEMA) vote for the standardization of the Company’s weight-bearing plug and outlet/receptacle for ceilings does not guarantee approval by the National Fire Protection Association’s (NFPA) Committee on the National Electrical Code (which consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any other trade or regulatory organization and does not guarantee that any of the Company’s products will become National Electrical Code (NEC)-code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all. There can be no assurance as to any of these matters. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact:
Lucas A. Zimmerman
MZ North America
(949) 259-4987
SKYX@mzgroup.us