Guardforce AI Secures Long-Term Partnership and Revenue Base Through 3-year, Multi-Million Dollar Contracts with Government Savings Bank in Thailand
NEW YORK, NY, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), an integrated security, AI and Robot-as-a-Service (RaaS) provider, today announced that Guardforce Cash Solutions Security (Thailand) Company Limited ("GFCS"), the secured logistic subsidiary of Guardforce AI, has renewed key contracts with its long-term customer, the Government Savings Bank (GSB) in Thailand. GSB, a state enterprise under the supervision of the Ministry of Finance, operates as a financial institution guaranteed by the Thai government and has been a trusted partner of Guardforce AI for decades.
Under the renewed agreements, GFCS will continue to deliver cash center operations and secured logistics services for coins under two three-year multi-million-dollar contracts. Building on a longstanding relationship, GFCS currently supports over 1,000 GSB branches across Thailand- representing more than 95% of GSB’s nationwide network, by providing ATM replenishment, maintenance, and coin services.
“These renewals extend our decade-long relationship with GSB and validate our position as Thailand’s premier secured logistics provider,” said Kelvin Chu, Managing Director at GFCS. “The continued trust of a government-backed institution highlights the reliability and quality of our services on a national level.”
Lei (Olivia) Wang, the Chairwoman and CEO of Guardforce AI, commented, “GSB’s ongoing confidence in Guardforce AI not only reinforces our strong reputation in secure cash management, but also provides a stable revenue stream that supports our future growth and innovation initiatives. As Thailand’s economy continues to grow, we are well-positioned to meet clients’ increasing demand.”
About Guardforce AI Co., Ltd.
Guardforce AI Co., Limited (NASDAQ: GFAI/GFAIW) is an integrated solution provider, specializing in security solutions, and focusing on implementing AI and robotics solutions to improve business operational efficiency and sales and marketing process, especially for the retail and travel industry in the Asia Pacific. Drawing upon 42 years' operational experience, established premiere long-term customer base, and sales channels, Guardforce AI has built a robust foundation towards the next level of elevating tailored AI solutions and expanding globally.
For more information, visit Twitter: .
Safe Harbor Statement
This press release contains statements that do not relate to historical facts but are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can generally (although not always) be identified by their use of terms and phrases such as anticipate, appear, believe, continue, could, estimate, expect, indicate, intend, may, plan, possible, predict, project, pursue, will, would and other similar terms and phrases, as well as the use of the future tense. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual reports under the heading "Risk Factors" as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date hereof. Unless otherwise required by law, we undertake no obligation to publicly update or revise these forward-looking statements, whether because of new information, future events or otherwise.
Investor Relations:
David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email:
Tel: 212-671-1020
Guardforce AI Corporate Communications
Hu Yu
Email:
