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Antelope Enterprise to Provide Energy to the $33.6 Billion US Market through its Completed Acquisition
The Company Anticipates Establishing a Major Presence in the Sector by Supplying Energy to Computing Power Industries NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE)
About this update from Antelope Enterprise Holdings Limited
[{"type":"text","content":"The Company Anticipates Establishing a Major Presence in the Sector by Supplying Energy to Computing Power Industries\nNEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Antelope Enterprise Holdings Limited (NASDAQ Capital Market: AEHL) (“Antelope Enterprise,” “AEHL,” or the “Company”), a provider of energy infrastructure solutions through natural gas power generation, and majority interest owner of KylinCloud, a livestreaming e-commerce business in China, today announced its successful launch into the US market. The Company began supplying energy to meet the needs of computing power industries starting in September 2024. “The growing demand for energy in the US, driven by the explosive expansion of artificial intelligence (AI), presents an extraordinary opportunity. Through our acquisition, we have quickly developed the infrastructure and operational capabilities necessary to serve these high-demand sectors,” commented Will Zhang, CEO of Antelope Enterprise. Capturing a Share of a Multi-Billion Dollar Energy Market The US energy market for high performance computing power industries is expected to grow significantly, with global data center energy consumption alone projected to reach over 660 terawatt hours (TWh) annually by 2030, as these activities intensify. This demand is bolstered by the AI sector’s expansion, expected to grow into a $500 billion market by 2030, and the increasing energy needs of other industries, which are projected to reach roughly $1 trillion by 2025. “The computational power required by high performance computing power enterprises consumes enormous amounts of electricity, and operators are constantly seeking cost-effective, sustainable energy sources. AEHL is seizing this growth opportunity by offering a reliable and affordable energy solution specifically tailored to meet the needs of these high-growth industries,” continued CEO Will Zhang. “In the first three years of our operation, we plan to help to meet the demands of these rapidly growing industries by tripling our investment and productivity each year. We project production capacity of 500 MW by 2026 which could translate into annual revenue reaching $300 million. We believe that the future will be built on sustainable energy that generates computing power,” concluded CEO Will Zhang. About Antelope Enterprise Holdings Limited Antelope Enterprise Holdin...