Core Viewpoint - Antelope Enterprise Holdings Limited is expanding into the energy transmission business through its subsidiary AEHL US, with operations expected to commence in Q3 2024, aiming to leverage cost-effective electricity for data centers and cryptocurrency mining [1][2][3]. Company Developments - The company appointed Mr. Huoyou Zhang as Executive Director and Mr. Di Wu as Director and President of AEHL US to lead the new energy transmission initiative, effective April 26, 2024 [1][2][4]. - Mr. Qiguo Wang resigned from the Board for personal reasons, effective April 26, 2024 [5][6]. Business Strategy - AEHL US is in the early stages of developing its energy transmission business, including sourcing natural gas from Texas and procuring electricity generators [2]. - The company plans to supply power to a data center in Midland, Texas, and generate revenue by securing hosting sites for cryptocurrency mining operators [2][3]. Leadership Background - Mr. Huoyou Zhang has extensive experience in finance and investment, having previously founded Shanghai KKM Asset Management Co. Ltd. and engaged in quantitative trading [4]. - Mr. Di Wu has a background in mobile charging energy storage and cloud business operations, previously serving as Deputy General Manager at Shanghai Kunjing Cloud Co., Ltd. [5].
Antelope Enterprise Announces its Plan to Launch Energy Transmission Business and Appoints Management Team to Spearhead Such Initiative