SEONGNAM, South Korea, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Roze AI Inc. (Nasdaq: RZAI, “Roze AI” or the “Company”) today announced that its wholly owned Korean operating subsidiary, Roze AI Korea Co., Ltd., signed a memorandum of agreement (“MOA”) with Mullae District 3 Complex Development Co., Ltd. on October 16, 2026 to evaluate participation in a proposed development in Yeongdeungpo, Seoul, involving AI fire safety systems and related technologies.
Young Jin Cho, Chief Executive Officer of Roze AI, said, “We see a compelling opportunity to bring AI fire risk assessment and monitoring into the early planning of this development. This MOA gives us a framework to collaborate with the relevant parties on the technical scope, design requirements and commercial terms needed to reach a definitive agreement.”
The MOA establishes non-binding principles for commercial cooperation between the parties, with a preliminary target of approximately US$111.8 million (KRW 150 billion) for potential contract work, including systems, services and related work that Roze AI Korea could supply or undertake for the project. Actual participation in the proposed development, if any, and the final scope, value and commercial terms are subject to feasibility reviews, contracting authority, necessary approvals and execution of a separate definitive agreement. The preliminary target does not represent a confirmed order, revenue guidance, or a commitment by Roze AI to invest that amount.
All target and contract amounts stated in this release include value-added tax (VAT), except for the historical Form F-1 figures expressly identified below as excluding VAT.
The MOA describes a proposed development at 9 Mullae-dong 3-ga, Yeongdeungpo-gu, on approximately 18,963 square meters (204,100 sq ft) of land. Current plans include residential, industrial and neighborhood commercial facilities, subject to permits, design and project structure.
Under the MOA, the parties will assess how Roze AI Korea’s technologies could be applied to the proposed facilities and reflected in the project planning and design. Discussions will evaluate technical specifications, installation coordination, operation and maintenance, with the aim of defining which systems, if any, could be used and how they would fit into the facilities. Requirements for mandatory fire protection facilities will be addressed separately under applicable law. The MOA remains effective through March 31, 2027, unless terminated earlier or extended in writing.
Roze AI Korea is also party to a previously disclosed contract for the Daegu AI Data Center project, summarized below to provide additional context on the subsidiary’s project business.
Previously Disclosed Daegu AI Data Center Contract
Roze AI Korea previously secured a contract with INUVERSE Co., Ltd. for the Daegu AI Data Center project in Yeongcheon, Gyeongbuk, representing a total contract value of KRW 230,937,476,000 (approximately US$172.2 million).
This contract was previously disclosed in the Company’s September 30, 2026 Form F-1 registration statement. The registration statement reported US$137,803,190, based on KRW 209,943,160,000 excluding VAT at KRW 1,523.50 per US$1. The difference from the figure in this release reflects VAT and a different reference exchange rate. This is not a new award or an increase in the KRW contract total.
As described in the registration statement, project operations for the Daegu project have not yet commenced, with no related revenue generated and project financing not yet secured. Contract performance is subject to financing and project conditions, and scope, price or schedule may change under the contract. The stated contract value is not revenue guidance.
Except for the historical Form F-1 figure above, U.S. dollar equivalents are for reference only and use KRW 1,341.42 per US$1, the October 15, 2026 closing rate published by The Wall Street Journal / Tullett Prebon.
About Roze AI Inc.
Roze AI is a Canadian Physical AI technology company operating through its wholly owned subsidiary, Roze AI Korea Co., Ltd., in Seongnam, South Korea.
The Company’s Disaster AI Platform (DAP) analyzes sensor and facility data using AI and digital twin technology to generate a Fire Risk Index that supports fire risk assessment, monitoring and early warning.
Through Roze AI Korea Co., Ltd., the Company develops and provides Fire 4Cast, Disaster AI Platform (DAP) and other solutions for buildings, facilities and urban infrastructure.
For more information, please visit www.rozeai.com.
Investor Relations / Media Relations
Roze AI Inc.
Email: ir@rozeai.com
Investor Relations - North America
Jack Perkins
KCSA Strategic Communications
Email: rozeai@kcsa.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements under applicable U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. These include the potential business scope and target under the MOA; its possible progression to a definitive agreement; technology application; and the execution, timing and realization of the previously disclosed Daegu contract. These statements reflect current expectations, estimates and assumptions and are subject to risks and uncertainties.
Actual results may differ materially due to feasibility findings; contracting authority and third-party decisions; permits and approvals; project financing; design, scope, price or schedule changes; failure to enter definitive agreements; termination, postponement or cancellation; technology requirements; customer performance and revenue recognition; regulatory and market conditions; and risks described in the Company’s SEC filings. Readers should not place undue reliance on these statements, which speak only as of this release. The Company undertakes no obligation to update them except as required by applicable law.