SYLA Solar signs a business cooperation agreement with

TOKYO, July 18, 2024 (GLOBE NEWSWIRE) — SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or the “Company”), operator of Japan’s largest membership-based real estate crowdfunding platform, Rimawari-kun, announced that its subsidiary, SYLA Solar Co., Ltd. (“SYLA Solar”), has entered into a business alliance agreement (the “Alliance”) with ABILITY LTD. (“ABILITY”) to launch a joint demonstration experiment for a clean energy source utilizing solar power generation and atmospheric pressure hydrogen cartridges.

The scope of work within the Alliance includes planning, research, development, design, production and sales of clean energy supply operations using solar power generation and atmospheric hydrogen inputs. These activities will be carried out jointly or in cooperation by SYLA Solar and ABILITY.

The project will use solar energy to produce hydrogen, which will then be split into oxygen and hydrogen. The hydrogen will be stored in hydrogen cartridges at atmospheric pressure and used to power a fuel cell (FC) generator. In addition, a demonstration experiment will be launched to investigate the use of the oxygen produced, as well as the heat and electricity generated by the FC generator.

This joint demonstration experiment aims to promote the efficient use of renewable energy and the expansion of hydrogen energy. SYLA Solar and ABILITY will leverage their combined technological capabilities and expertise to offer innovative energy solutions, contributing to the creation of a sustainable society.

About SYLA Technologies Co., Ltd.
Headquartered in Tokyo, Japan, SYLA Technologies Co., Ltd. (NASDAQ: SYT) (“SYLA” or the “Company”) is the owner and operator of the largest real estate crowdfunding platform in Japan, Rimawari-kun, which targets individuals, corporate and institutional investors, and high net worth individuals. SYLA’s mission is to democratize real estate investing worldwide through technology and asset management through the Rimawari-kun platform. SYLA is engaged in the overall condominium investment business, including planning, development, construction, sales, rental management, building management, repair work, and property sales. Additional information about the Company’s products and services is available at https://syla-tech.jp/en.

Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company uses forward-looking statements when discussing expected gross proceeds and the closing of the offering. Forward-looking statements are not historical facts and are based on management’s current expectations, beliefs and projections, many of which are inherently uncertain. Such expectations, beliefs and projections are made in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results could differ materially from what is expressed or indicated in the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, please refer to the Company’s reports filed from time to time with the Securities and Exchange Commission (the “SEC”), including, but not limited to, the risks more fully described in the Company’s Annual Report on Form 20-F filed with the SEC on May 15, 2024. Forward-looking statements speak only as of the date they are made. The Company undertakes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting the forward-looking information, except as required by applicable securities laws. If the Company updates one or more forward-looking statements, you should not infer that the Company will make additional updates with respect to them or to any other forward-looking statements. References and links to websites are provided solely for the convenience of users and the information contained on such websites does not form part of this press release.

Contact info
Contact for SYLA Technologies investors:
Gateway Group, Inc.
John Yi and Steven Shinmachi
[email protected]
(949) 574-3860

Contact SYLA Technologies
Takeshi Fuchiwaki
Director, Development Director
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c40ed6ad-8fd4-42da-bbec-367cba27bf3e