SAITECH announces two new members to its board of directors (the "Board") upon the completion of the business combination, each experienced in technology, AI, academia, and research.

SINGAPORE, Dec. 06, 2021 (GLOBE NEWSWIRE) -- SAITECH Limited ("SAITECH" or the “Company”), an energy-saving bitcoin mining operator that engages in the hosting of bitcoin mining machines, today announced that it expects to appoint two additional members to its Board upon the consummation of the pending business combination with TradeUP Global Corporation (NASDAQ: "TUGC") ("TradeUP Global"), a publicly-traded special purpose acquisition company. SAITECH will become a publicly listed company on NASDAQ under the new ticker symbol "SAI" upon the completion of the business combination.

Mr. Arthur Lee, Founder and CEO of SAITECH, commented the following in connection with the appointment of the two new Board members: "As we get closer to the completion of our transaction, it is critical that we put together a stronger team of Board members that can bring their extensive industry experiences and insights to our management team to help us achieve our mission of providing innovative technological solutions to the Bitcoin mining industry. I eagerly welcome both Mr. Yusen Chen and Dr. Jinlong Zhu to the Board, and am highly confident that both members will add significant value to our Company as we move into our next phase of growth and bring more sustainable and innovative technologies to the market."

Mr. Yusen Chen is the founder and CEO of Hangzhou Jiao Gei Mao Ba Technology, a company that applies advanced technologies in AI and graphics to the gaming industry. From July 2016 to July 2021, Mr. Chen served as the co-founder and CEO of Beijing Chaitin Technology, a fast-growing startup in China that provides infiltration testing, security consulting services, and cyber-attack detection solutions. In October 2019, Chaitin Technology was fully acquired by Alibaba Cloud, a subsidiary of the Alibaba Group. In 2015, Mr. Chen attended the US Black Hat Conference as a keynote speaker, and in 2017 he was featured in the Forbes 30 under 30 Asia: Enterprise Technology. Mr. Chen holds a bachelor’s degree from Zhejiang University and was a visiting scholar at Northwestern University.

Dr. Jinlong Zhu is a tenured associate professor at the Southern University of Science and Technology, where he leads a research project on solid-electrolyte battery materials that is backed by the Shenzhen Science and Technology Program. From November 2016 to June 2019, Dr. Zhu served as a staff scientist at The Center for High-Pressure Science & Technology Advanced Research in Beijing. In 2015, Dr. Zhu was an associate researcher at the U.S. Department of Energy ("USDOE") funded HPSEC at the University of Nevada, Las Vegas. Prior to that, he worked as a postdoctoral researcher within the same organization. During this time, he was mainly engaged in conducting functional materials research, gas hydrate research, and battery materials research, particularly with regards to the application of Big Science devices such as Neutron and Synchrotron Light Source. He was involved in various funding projects, which included an ARPA-E (“Advanced Research Projects Agency - Energy”) project that was also supported by the USDOE, and in which Nobel Prize winning Professor Goodenough was a team member. From August 2010 to December 2013, Dr. Zhu was a post-doctoral researcher at Los Alamos Neutron Science Center. Dr. Zhu holds a Ph.D. degree in Physics: Condensed Matter Physics from the Institute of Physics CAS, and a bachelor’s degree in Engineering and Materials Science from Zhejiang University.

About SAITECH

SAITECH is an energy saving digital asset mining operator that engages in the hosting of bitcoin mining machines for its clients. SAITECH uses proprietary liquid cooling and waste heat recovery technology for its digital asset mining machines, which utilizes waste heat to provide recycled energy heating to potential customers while lowering mining operating costs. SAITECH strives to globally become the most cost-efficient digital asset mining operations company, while simultaneously promoting the clean transition of the bitcoin mining industry.

For more information on SAITECH, please visit https://sai.tech/.

For investor and media inquiries, please contact:

Christensen
Anthony Cheong
Phone: +852 2117 0861
E-mail: acheong@christensenir.com

SAITECH
Media Relations
Zoya Ji
Phone: +65 9656 5641
Email: zoyaj@sai.tech