SHENZHEN, China, June 20,
2023 /PRNewswire/ -- Taoping Inc. (NASDAQ: TAOP, the
"Company" or "Taoping"), today announced the launch of the
Company's AI-aided innovative new, rapid, off-grid wastewater
treatment solutions designed to bring "Clean Water for a Cleaner
World". The lower cost, portable wastewater treatment solutions
represent a watershed moment in the global effort for a cleaner
environment, and will be integrated with Taoping's intelligent
operation and maintenance system aided by the Company's powerful
new Cloud Nest AI system and intelligent Cloud platform to
significantly increase operations and cost efficiencies of
maintenance management.
Underserved rural markets will be a top priority for Taoping's
new off-grid wastewater treatment solutions. The market size for
wastewater treatment for the rural areas of China is estimated to be approximately
RMB 300 billion in 2023, with a CAGR
of 10% over the next 5 years. (source: Zhongtou Consultant)
The off-grid wastewater treatment solutions market refers to the
market for wastewater treatment systems that operate without being
connected to the grid. These systems are typically used in remote
or rural areas where traditional wastewater treatment
infrastructure is not available. The off-grid wastewater treatment
solutions market is expected to grow in the coming years, driven by
increasing demand from developing countries and remote areas.
Mr. Lin Jianghuai, Chairman and CEO of Taoping, said: "There is
growing demand for off-grid wastewater treatment solutions due to
several factors, including increasing population growth,
urbanization, and environmental concerns. Additionally, the cost of
traditional wastewater treatment infrastructure can be
prohibitively expensive in remote areas, making off-grid solutions
an attractive alternative. Taoping's purpose built wastewater
treatment solutions provide a portable, on-site solution with lower
upfront and maintenance costs, that leverages the advantages of
traditional solutions, while offering highly compelling
performance, Cloud-based monitoring, maintenance and cost
advantages. More importantly, the Company's intelligent operation
and maintenance system aided by Taoping's powerful new Cloud Nest
AI system and intelligent Cloud platform can increase operations
and cost efficiencies of maintenance management, truly realizing
the automatic operation of sewage treatment facilities in low- and
medium-density urban and rural residential areas, which we expect
will make this a preferred choice that is more attractive to the
market."
Mr. Lin continued: "We are very excited about the long-term
opportunities for Taoping's wastewater treatment solutions. We are
committed to helping customers and communities create a more
sustainable future with Clean Water for a Cleaner World. We
are taking a cyclical approach to managing wastewater that
emphasizes the effectiveness of our innovative new wastewater
treatment solutions, as we reinforce our commitment to both
environmental sustainability and efficient wastewater management.
We will continue to promote the deep integration of AI technology
and sewage treatment products to build a new wastewater environment
management integration platform with low cost, hassle free
construction, intelligent operation and maintenance, convenient
operation, and reduced cost of clear ownership to form valuable
brand assets and drive the Company's revenue growth."
Off-grid wastewater treatment refers to the method of onsite
wastewater treatment in the smallest unit of wastewater source as
far as possible in the middle and low population density
residential areas. For example, in individual farmers, B&Bs,
villas, public toilets, schools, hospitals, hotels, residential
communities, parks, urban villages, temporary construction sites,
islands and other sources of domestic wastewater treatment after
discharge or reuse standards. Taopping's off-grid wastewater
treatment solutions are able to treat wastewater from a single
source or multiple sources.
About Taoping Inc.
Taoping Inc. (Nasdaq: TAOP) has a long history of successfully
leveraging technology in the development of innovative solutions to
help customers in both the private and public sectors to more
effectively communicate and market to their desired targets. The
Company has built a far-reaching city partner ecosystem and
comprehensive portfolio of high-value, high-traffic areas for its
products, which are aligned together with Taoping's smart cloud
platform, cloud services and solutions, new media and artificial
intelligence. For more information about Taoping, please visit
www.taop.com. You can also follow us via LinkedIn, Twitter or
YouTube.
Safe Harbor Statement
This press release contains "forward-looking statements" that
involve substantial risks and uncertainties. All statements other
than statements of historical facts contained in this press
release, such as statements regarding our estimated future results
of operations and financial position, our strategy and plans, and
our objectives or goals, are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended.
We have attempted to identify forward-looking statements by
terminology including "anticipates," "believes," "can," "continue,"
"could," "estimates," "expects," "intends," "may," "plans,"
"potential," "predicts," "should," or "will" or the negative of
these terms or other comparable terminology. Our actual results may
differ materially or perhaps significantly from those discussed
herein, or implied by, these forward-looking statements.
There are a significant number of factors that could cause actual
results to differ materially from statements made in this press
release, including: our potential inability to achieve or sustain
profitability or reasonably predict our future results due to our
limited operating history of providing smart cloud services, the
effects of the global Covid-19 pandemic, the emergence of
additional competing technologies, changes in domestic and foreign
laws, regulations and taxes, uncertainties related to China's legal system and economic, political
and social events in China, the
volatility of the securities markets; and other risks including,
but not limited to, those that we discussed or referred to in the
Company's disclosure documents filed with the U.S. Securities and
Exchange Commission (the "SEC") available on the SEC's website at
www.sec.gov, including the Company's most recent Annual Report on
Form 20-F as well as in our other reports filed or furnished from
time to time with the SEC. The forward-looking statements included
in this press release are made as of the date of this press release
and TAOP undertakes no obligation to publicly update or revise any
forward-looking statements, other than as required by applicable
law.
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SOURCE Taoping Inc.