Pan Asia Environmental Protection Expands Into AI Industry

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Appoints Zhu Duke Li as CEO to

Lead Development of Web 3.0 and Other Businesses

Pan Asia Environmental Protection Group Limited announced its decision to expand into the artificial intelligence (“AI”) market, on the strong foundation its existing environmental protection business provides, and the appointment of Mr. Zhu Duke Li, a partner of a joint venture, as Executive Director and Chief Executive Officer (“CEO”) to strengthen its management team and drive growth of its Web 3.0 and AI businesses.

To diversify its business portfolio and leverage the most advanced computing technologies, the Group has set up a subsidiary in the United States of America (“USA”) with two joint venture partners to expand its global operations and develop Web 3.0 and AI businesses.

The Group will focus on decentralised disaster recovery storage solutions and plans to invest approximately USD20 million in acquiring digital assets. It will provide technological services and solutions for AI computing in collaboration with the joint venture partners.

Mr. Guo Jiannan, Chairman and Executive Director of the Group, said, “Artificial intelligence is gradually becoming a pivotal driving force of global development, promising various industries abundant business opportunities. The Group wishes to inject new vitality into the company via pursuing AI and Web 3.0 related businesses. Mr. Zhu Duke Li has extensive experience in those fields and will also bring relevant advanced technological expertise to the Group, helping it make a mark in the distributed storage and AI computing industry and generate substantial returns for shareholders.”

On his appointment, Mr. Zhu Duke Li said, “I am honoured to join the Group and participate in the strategic development of its new AI businesses. I will work closely with the board of directors and management team to vigorously promote growth of these new businesses and assist the Group in opening a new chapter of expansion.”

Mr. Zhu entered the blockchain industry in 2017 and had helped build a number of Bitcoin, Filcoin and AI supercomputing centres in Oregon, USA. He co-founded and is chief executive officer of West Crypto International Corporation and Plentiful Data LLC. Prior to that, he was the chairman of Jagex, the largest online game company in the United Kingdom, and had also worked for MacArthur Capital Holding USA LLC and MacArthur Fortune Holding LLC as partner and chief executive officer.