Guardforce AI Strengthens Decade-Long Client Relationships by Securing Long-term Contract with Government Savings Bank
Ensuring Stable Revenue Streams to Drive Future AI Innovations
NEW YORK, NY, June 23, 2025 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (Nasdaq: GFAI, GFAIW) (“Guardforce AI” or the “Company”), a global integrated security solutions provider specializing in secured logistics, AI, and Robot-as-a-Service (RaaS), today announced that its subsidiary, Guardforce Cash Solutions Security (Thailand) Company Limited (“GFCS”), has secured a three-year renewal with Government Savings Bank (GSB), one of Thailand’s largest state-owned banks, effective from June 1, 2025, through May 31, 2028.
This fourth consecutive renewal represents a decade-long partnership between the Company and GSB. Under the renewed agreement, GFCS will continue to provide secure and efficient cash-in-transit and maintenance services for GSB’s ATM network across Thailand’s upcountry regions, which covers the majority of the ATM services currently handled by the Company. This renewal further consolidates the Company’s upcountry strategy in the secured logistics segment and underscores our proven ability to consistently meet the highest standards of service required by a leading government-owned bank.
With this renewal, Guardforce AI secures stable and predictable revenue streams over the next three years, providing the Company with a solid financial foundation to invest in innovation and expand its AI-driven solutions.
“We are honored to continue our partnership with GSB, which has been built on mutual trust and a shared commitment to excellence,” said Olivia Wang, Chairwoman and Chief Executive Officer of Guardforce AI. “From a business expansion standpoint, this decade-long relationship provides a solid foundation for future growth and advancing innovation in future AI-driven solutions.”
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 on 42 years' operational experience, a premiere long-term customer base, and well-established 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.
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