LEW's Subsidiary Collaborates with Beijing Academy for Research

LE Worldwide Limited (“LEW”) a global Agtech company specializing in data-driven integrated lighting solutions for Controlled Environment Agriculture (CEA), recently announced the signing of a research partnership agreement with the Beijing Academy of Agriculture and Forestry Sciences (“BAAFS”). This collaborative effort aims to contribute to innovation and modernization in agriculture and enhance the value of LED grow light technology.

BAAFS, established in 1958, has emerged as a leading research institution, providing crucial support and leadership in developing modern urban agriculture and China’s agriculture sector overall. The Academy’s years of rich history have been marked by vast contributions, academic excellence, and a commitment to innovation.

The Chinese government has played a significant role in supporting agriculture by providing favorable policies and resources that encourage technological advancements and sustainable agricultural practices. This support aligns with the government’s focus on innovation and modernization to ensure national food security.

The collaboration between LEW and BAAFS emphasizes the role of LED grow lights as supplemental devices for facility horticulture vegetables. Their joint research aims to explore the effects of light spectra on crop growth and advance LED grow light technologies. By combining their knowledge and capabilities, both entities aim to develop innovative agricultural solutions in line with government goals for efficient, sustainable agriculture.

According to Mr. Teddy Lo, CEO and Chairman of LEW, “We are thrilled to partner with the esteemed Beijing Academy of Agriculture and Forestry Sciences in this research initiative. Our goal is to contribute to China’s agricultural development and address the evolving needs of farmers by advancing LED grow light technology. With strong support and encouragement from the Chinese government, we are confident in our ability to drive innovation and provide valuable LED grow light solutions for the modernization of agriculture.”

This press release has been provided by LE Worldwide Limited (LEW), which is planning to change its name to AG DATAWORKS after the planned merger and listing with the SPAC called Ace Global Business Acquisition Limited (Nasdaq ticker: ACBA) in 2024, subject to the satisfaction of the terms and conditions set forth in the previously announced business combination agreement.

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. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially. For more information, visit LEW’s website: www.leigrow.com.