Allterco partners up with Power Workplace to address higher education market in Hong Kong

Sofia / Munich, 15 March 2022 - Allterco Asia Ltd, an Asian associated company of Allterco JSCo (ticker A4L / ISIN: ) and provider of IoT and smart home products based in Sofia, Bulgaria, announced a partnership with Power Workplace, a PropTech system integrator and IoT technology solutions provider based in Hong Kong today. Through this partnership, Power Workplace has the exclusive right to distribute Allterco's Shelly line of home automation products to the higher education market in Hong Kong.

Shelly, the award-winning line of home automation products by Allterco, is one of the fastest-growing IoT brands in the world with devices that provide flexible solutions, entirely adjustable to customers' needs, giving modular, step-by-step automation based on their preferences. Shelly allows automation of the building with no excessive investment or without the need to go through the difficult process of changing the existing electrical installation.

Unlike many other brands, Shelly is compatible with all electrical installations and does not require a hub - a local internet connection is enough to set up. Furthermore, Shelly devices have an embedded server and function as standalone devices on the local network. Customers can choose if they will use the cloud or the local network. It is precisely the wide functionalities of Shelly devices that make them the preferred partner for Power Workplace.

"More than 5 million Shelly devices have been deployed globally. We are excited to bring these innovative smart automation solutions to our customers in Hong Kong," said Raymond Chan, CEO of Power Workplace.

"We are thrilled to partner with Power Workplace and deliver Shelly devices to the education market in Hong Kong. This is an important milestone for our company as it gives us the amazing opportunity to be part of the education process of so many talented and ambitious young professionals and acknowledged educators," explained Dimitar Dimitrov, CEO of Allterco.

About Power Workplace
Power Workplace was founded with the idea to help organizations to transform their workspaces through IoT implementation. Established in 2018 and headquartered in Hong Kong, we are a PropTech system integrator and IoT technology solutions provider that design, implement and maintain occupancy analytics and smart office applications for organizations across the APAC region.

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About Allterco
is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Allterco was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 4 subsidiary companies and has offices in Bulgaria, China and USA and is about to open an office in Germany. Allterco's products have already conquered over 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker A4L.

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