Bangkok, Thailand--(Newsfile Corp. - March 10, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") announced it has formally launched the initial phases of Thailand's largest-ever AI-driven energy transformation initiative with Thailand's Provincial Electricity Authority (the "Electricity Authority"). This significant moment took place in the presence of representatives of the Electricity Authority and representatives of the British Government, underscoring the global importance of this transformation.

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This $1.8 billion initiative, spanning the next 15 years, is expected to digitally modernize Thailand's power infrastructure through AI, automation, and cybersecurity, ensuring greater efficiency, security, and sustainability. With this formal agreement, Gorilla and the Electricity Authority are now progressing into the structured definition phase, where the foundational scope, deployment strategies and operational frameworks will be developed.

Chairman & CEO of Gorilla, Jay Chandan, commented: "This marks the beginning of a transformation that will redefine Thailand's energy future. With this collaboration, we are not just launching a project, we are laying the foundation for a next-generation, AI-powered energy ecosystem that will drive efficiency, resilience and long-term sustainability at an unprecedented scale. By integrating AI, automation and cybersecurity into the nation's power grid, we intend to create an intelligent infrastructure that is future-proof, adaptive and built for the demands of a rapidly evolving energy landscape. We believe this initiative is a testament to Gorilla Technology's ability to lead large-scale, high-impact transformations, that deliver lasting value.

The presence of the representatives from the British Government reflects their support for fostering innovation, strategic partnerships and sustainable development in Thailand's energy sector. With foundational groundwork commencing in 2025, the initiative is set to scale progressively, with major milestones driving financial and operational impact from 2026-2027 onwards, as full implementation frameworks take shape" he added.

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

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Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Gorilla's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our ability to identify and agree to specific project scope, deployment strategies and operational frameworks with the Electricity Authority, along with those other risks described under the heading "Risk Factors" in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the "SEC") on May 15, 2024 and those that are included in any of Gorilla's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

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