Italeaf

partnership with Wulian to establish the joint venture WSAVE Co. Ltd

JOINT PRESS RELEASE 27 SEPTEMBER 2016

ITALEAF:  partnership with Wulian to establish the joint venture WSAVE Co. Ltd

• Strategic alliance between the Italian company builder and the Chinese company leader in the IoT and home automation sector
• The newco will promote integrated an innovative integrated system for smart home and green building

Italeaf, holding company and first Italian company builder active in cleantech and smart innovation sectors, through Italeaf HK (a company licensed by WiSave Srl), and Wulian, a Chinese company specialized in the Internet of Things (IoT) and member of ZigBee Alliance Board of Directors, signed an agreement in Nanjing, to establish a joint venture named WSAVE Co., ltd. (company name to receive final approve from the Chinese Industrial and Commercial Bureau).
The new company is being set up to promote the development of green building technologies and intends to provide energy-saving solutions based on Smart Building system and IoT technology.
As each country has put an increasing emphasis on energy conservation and emission reduction amid global climate change and population boom, using new energy and new technologies to reduce energy consumption is becoming a new trend. This trend is expected to greatly affect IoT market, contributing to an increase in demand for smart energy devices and solutions.
Under such market conditions, Wulian, a professional manufacturer and supplier for Smart Home products and solutions, is currently strengthening its smart unit business, which mainly consists of hardware, software, communication module, sensor, controller, cloud service and big data. Its current products and solutions cover a wide range of fields, including Energy-Efficient Lighting, Security Supervision, Home Appliances Management, Environmental Detection, and more.
Italeaf Group, is a holding company promoting the creation and development of industrial startups in the fields of cleantech, smart energy and technological innovation. The company has five subsidiaries, which are active in the fields of renewable energy, waste management, civil and commercial drones manufacturing, innovative metallurgy, additive manufacturing and real estate. Italeaf is listed on First North segment of NASDAQ OMX Nordic at Stockholm Stock Exchange.