AERWINS Appoints Financial and Business Expert, Kiran Sidhu, to Board of Directors

TOKYO, May 19, 2023 (GLOBE NEWSWIRE) -- AERWINS Technologies Inc. (NASDAQ: AWIN) (“AERWINS” or the “Company”), the developer and manufacturer of air mobility platform, COSMOS (Centralized Operating System for Managing Open Sky), and the XTURISMO Limited Edition Hoverbike, announced today it has appointed Kiran Sidhu as the Chairman of the Board of Directors, effective immediately.

Kiran Sidhu is the Managing Member of Catalyst Capital LLC, which was founded in 1999 and invests in early-stage companies, including technology, biotechnology, and cannabis. He served as the CEO and Director of Halo Collective (NEO: HALO), a multi-state cannabis operator, and prior to that was a non-executive director and audit committee chairman of Namaste Technologies Inc. (TSX-V: N), a technology company that provided cannabis-related marketplaces in 20 countries. Additionally, Mr. Sidhu was the Chairman and CEO of Transact Network Ltd., a leading EU electronic money institution, which was later sold to The Bancorp, Inc. (NYSE: TBBK) in 2011. Before founding Transact Network, he held the position of Managing Director at Aspen Communications, an Indian outsourcing company that offers various services, including e-commerce fraud detection, accounting, and comprehensive system support. Mr. Sidhu currently serves as a non-executive director of Aspen Communications.

Earlier in his career, Mr. Sidhu served as the CFO of On Stage Entertainment (NASDAQ: ONST) and oversaw its initial public offering. He also co-founded Nano Universe PLC (LSE-AIM: NANO) and served as the Finance Director, overseeing the company's listing on the LSE-AIM. In addition, Mr. Sidhu worked as a Manager in Price Waterhouse's strategic consulting group in Los Angeles and as a Senior Associate in mergers and acquisitions at Merrill Lynch Capital Markets in New York. He graduated with honors in Computer Science from Brown University in 1985, and earned an MBA in Finance from the Wharton School of Business in 1987.

“I am pleased to announce the addition of our newest board member, whom from both an operational and financial perspective, brings to AERWINS diversified and high-quality experience in multiple industries, particularly from the vantage of public entities,” said Taiji Itoh, Chief Executive Officer of AERWINS. “He is highly respected in the fields of management, investment, and leadership, and we look forward to working with him in meeting our corporate strategic goals. We are honored to have him lead our board as chairman and look forward to his invaluable contributions as we navigate the dynamic landscape of the macroeconomic environment.”