SINGAPORE, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Primech Holdings Limited (Nasdaq: PMEC) ("Primech" or the "Company") and its subsidiary, Primech AI, are pleased to announce new strategic partnerships with Unity Group Holdings International Limited (1539.HK) ("Unity Group"), a renowned provider of energy solutions listed on the Hong Kong Stock Exchange. These partnerships, formalized through separate Memorandums of Understanding (MOUs), aim to harness Unity Group’s energy expertise and Primech AI’s robotic innovations to drive sustainability and technological advancements in their respective fields.

Unity Group (https://www.unitygroup.eco) operates in over 20 countries, offering innovative energy solutions that significantly reduce carbon footprints and operational costs for numerous global clients. This collaboration aligns with Primech's commitment to environmental stewardship and marks a significant step in integrating sustainable practices and advanced technologies across its operations.

Details of the Partnerships:

• Primech Holdings Ltd. will collaborate with Unity Group to explore and implement cutting-edge energy solutions in Singapore, focusing on enhancing energy efficiency within its extensive facilities management operations.
• Primech AI and Unity Group will cooperate on the business development and trial deployment of the Hytron restroom cleaning robot into major properties in Dubai. This initiative aims to revolutionize facility maintenance with cutting-edge robotic technology, improving efficiency and reducing the environmental footprint of cleaning operations.

They will expand Unity Group's technological footprint in Singapore and beyond, setting new standards for international collaboration in energy and robotic solutions.

Mr. Kin Wai Ho, CEO of Primech Holdings Limited, commented, “We are proud to partner with Unity Group to pioneer the integration of sustainable energy solutions and advanced robotics in our operations. These initiatives are pivotal as we continue to push the boundaries of what is possible in our industry, ensuring that we remain at the forefront of both environmental responsibility and technological innovation.”

Mr. Mansfield Wong, Co-founder, Chairman, and CEO of Unity Group, stated, “Our collaboration with Primech Holdings and Primech AI represents a significant opportunity to leverage our expertise in energy solutions alongside Primech’s innovations in robotic technologies. We are excited about the potential of our joint efforts to set benchmarks in sustainability and operational efficiency globally.”

About Unity Group Holdings International Limited
Founded in 2008, Unity Group became the first energy service company to be listed on the Hong Kong Stock Exchange. At the core of its operations is the Energy Management Contract (EMC) business model, which implements customized solutions designed to achieve optimal energy efficiency and maximize returns for clients. Unity Group employs industry-leading, effective, and practical research methodologies. These methodologies span innovative green technologies, data analysis, and machine learning. The outcomes of its research and development efforts manifest in its uniquely versatile, appropriate, and actionable green technology solutions. Currently, Unity Group operates in Mainland China, Malaysia, and the Middle East.

About Primech Holdings Limited
Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore, with expanding operations in Malaysia. With a legacy of excellence and innovation in the facility services industry, Primech’s operating subsidiary, Primech A & P offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Additionally, CSG Industries Pte Ltd, a subsidiary of Primech Holdings, manufactures and supplies various high-quality cleaning products under its brand, extending its reach and capabilities within the industry. Known for its commitment to sustainability and cutting-edge technology, Primech integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.    

About Primech AI
Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.

Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.

Company Contact:
Email: ir@primech.com.sg

Investor Relations Contact:        
Matthew Abenante, IRC
President                                        
Strategic Investor Relations, LLC                                         
Tel: 347-947-2093
Email: matthew@strategic-ir.com