USPACE Technology Group Limited and Zijing International Energy (HK) Company Limited Sign Memorandum of Cooperation to Jointly Promote the Abu Dhabi Space Eco-City Green Energy Project

On August 30, 2024, USPACE Technology Group Limited (USPACE) and Zijing International Energy (HK) Company Limited (Zijing International) signed a Memorandum of Cooperation for the development of the Abu Dhabi Space Eco-City Green Energy Project. According to the memorandum, both parties will fully leverage Intercontinental Aerospace's platform resources to jointly develop photovoltaic projects in the Abu Dhabi region and the green energy project within the Abu Dhabi Space Eco-City. USPACE will be responsible for liaising with local government authorities, completing the necessary approval processes, and conducting global market engagement and expansion. Zijing International will participate in the investment of green energy projects, provide comprehensive consulting services, and offer engineering and construction services for subsequent projects.

In the future, both parties plan to establish a joint venture to collaboratively build the green energy system of the Abu Dhabi Space Eco-City, further advancing the implementation and realization of the project.

USPACE is headquartered in both Dubai, UAE, and Hong Kong, China. It was listed on the Main Board of the Hong Kong Stock Exchange on August 16, 2018, under the stock code: 1725.HK. The company is dedicated to satellite manufacturing, satellite measurement and control services, satellite applications, and electronic product manufacturing. Additionally, USPACE is building a commercial aerospace industry ecosystem cluster in the Abu Dhabi Space Eco-City in the UAE, forming an international commercial aerospace platform. Through innovative technology clusters, it aims to promote Chinese enterprises in the global market, particularly in emerging markets such as China, South America, Africa, and Europe, while contributing social value through aerospace technology intelligence clusters and innovation.

Zijing International, established in 2019 and registered in Hong Kong, is a wholly-owned overseas subsidiary of China Power Engineering Consulting Group Co., Ltd., a core subsidiary of China Energy Engineering Group Co., Ltd. Positioned as China Power Engineering’s overseas investment, financing, and development platform, it has simultaneously engaged in the development and investment of multiple green energy projects across mainland China, Hong Kong, and key overseas markets.

The cooperation between the two parties signifies a further deepening of the strategic layout within the Abu Dhabi Space Eco-City project, providing green, sustainable clean energy solutions for the space eco-city. This collaboration aligns with both parties' strategic goals and will contribute to global energy transition and the coordinated development of the aerospace industry.