-- Wood drying ship spark in FoF (Fund of Funds) Forum at
Davos
SINGAPORE, Jan. 25,
2024 /PRNewswire/ -- Invited by the World Economic
Forum, Caravelle's Chairman and CEO, Dr Guohua Zhang, and the company's independent
director, Dr. Alon Rozen, Dean of
the Business School of École des Ponts ParisTech, participated in
the 2024 Davos Forum in Switzerland and delivered public speeches in
the Davos Global FoF Forum. The two global growth drivers in the
spotlight at Davos are undoubtedly
the Green Energy Revolution and Artificial Intelligence, which are
also key investment directions for the Global Funds. Caravelle, as
a leader in marine carbon neutral technology, is practising the
transformation of the wood drying scenario through green and low
carbon technologies, while creating significant economic benefits
in the process of marine transportation. Caravelle's business model
and sustainable integration development was praised and reported by
many media in attendance.
Dr. Rozen said at the Davos FoF Summit that he has been focusing
on how innovative business models can transform traditional
industries for many years, and that he and Dr Zhang Guohua started to discuss the project of
"Ocean Carbon Neutral" wood drying vessel five years ago. Dr. Rozen
believes that while the world is focusing on breakthrough
technologies, we need to consider the value brought by a business
model that can be implemented on the ground, and Caravelle is a
perfect case with both technology and commercial feasibility, and
at the same time, France is one of
the initiators of the "Paris Agreement", which coincides with the
foothold of ocean carbon-neutral projects such as Caravelle.
Caravelle is a perfect example of an ocean-going carbon-neutral
project that is both technically and commercially viable. He said
that after five years of deep involvement in the joint efforts of
Chinese and French research institutions, Dr. Rozen has also
witnessed the landing of the joint R&D project of Caravelle's
wood drying vessel and its listing on Nasdaq.
The year 2024 will mark the 60th anniversary of the
establishment of bilateral diplomatic relations between
France and China. As two major global powers,
France and China have assumed the key roles of leaders
and practitioners in the field of green and sustainable
development. The cooperation between China and France in the field of carbon neutrality is
also getting closer. Caravelle, as a representative company of
carbon neutrality in the global seagoing sector, has set up
research and development centres in France and China to accelerate the two-way acceleration
of the French technology in scientific research and the Chinese
market, and to benefit the innovation results to Asia and Europe through the carrier like shipping, to
drive the decarbonisation process of the shipping industry, and to
create more predictable returns. Caravelle's contribution to ocean
carbon neutrality was also featured in People's Daily, a Chinese
media outlet participating in the 2024 Davos Forum in Switzerland.
At the end of the meeting, Mr. Zhang
Guohua, Chairman of Caravelle Board of Directors, and Dr.
Rozen discussed with the representatives of global mother fund
institutions how to contribute to the sustainable development of
marine resources through the power of global capital, and how to
deeply exploit the working scenarios in ocean shipping, which was
unanimously praised and recognised by the guests present.
About Caravelle International Group
Caravelle is a global ocean technology company. Its business
comprises of two sectors: the traditional business in international
shipping, operated by the Topsheen Companies (Topsheen Shipping
Group Corporation (Samoa) and its
subsidiaries) and the new CO-Tech business under Singapore Garden
Technology Pte. Ltd. As the traditional business, Caravelle's
international shipping business has generated all revenues. The
CO-Tech business is a new development building upon the existing
shipping business. It enables wood desiccation during the maritime
shipping process, with full utilization of the shipping time,
space, and the waste heat of exhaust gas from the shipping vessels.
Caravelle's CO-Tech industry has no historical operations and has
not generated revenue. Caravelle is headquartered in Singapore.
Forward Looking Statements
This announcement contains "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical fact, including, without
limitation, those with respect to the objectives, plans and
strategies of the Company set forth herein and those preceded by or
that include the words "believe," "expect," "anticipate," "future,"
"will," "intend," "plan," "estimate" or similar expressions, are
"forward-looking statements". Such statements include, but are not
limited to risks detailed in the Company's filings with the U.S.
Securities and Exchange Commission, including its Annual Report on
Form 20-F for the fiscal year ended October
31, 2022. These forward-looking statements involve a
number of risks and uncertainties, which could cause the Company's
future results to differ materially from those anticipated. 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. All information provided in this press
release is as of the date of the publication, and the Company does
not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
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SOURCE Caravelle International Group