London, United Kingdom--(Newsfile Corp. - January 8, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), in a consortium with NC Digy Smart Cities and AECOM (NYSE: ACM), is proud to announce the signing of a landmark MoU with the City of Santa Marta, Columbia. This ground-breaking collaboration marks the beginning of Santa Marta's transformation into an AI-powered smart city, setting the stage for broader opportunities across Colombia and the Latin American region.

The MoU, coordinated in collaboration with CAF, Development of Bank of Latin America and its Executive Director Sergio Díaz-Granados Guida, was signed in a high-profile ceremony attended by Santa Marta's Mayor, representatives of the British Government and industry leaders, underscoring a unified commitment to leveraging AI and advanced technologies to drive urban progress and economic growth.

Jay Chandan, Chairman and CEO of Gorilla Technology, stated, "The transformation of Santa Marta marks the first phase of a four-phase initiative that will revolutionize smart cities across Latin America. This 20-year contract allows us to build an end-to-end smart city, integrating AI into security, mobility, environmental monitoring and more. It's a scalable model for other cities in the region."

Chandan added, "We are actively engaging with over 20 cities between the United States and Latin America, to collaborate on making their urban environments smarter and more connected. This project exemplifies the power of AI to drive innovation, economic growth, and sustainable development, not just for Santa Marta, but for cities across Latin America."

He also emphasized, "With largest gas discovery in the country's history off Colombia's coast, this is a pivotal moment for the country. The energy boom, combined with our smart city development, will drive a wave of economic growth and transformation, not only for Santa Marta but for the entire region."

Chandan concluded, "As part of this initiative, we will also be bringing smart and green data centers to Colombia, supporting the digital transformation of the region while ensuring sustainability and energy efficiency."

Jaime Andrés Niño Tarazona, Sr Vice President, LATAM Subregion, AECOM commented, "The Santa Marta Smart City initiative is not just a project; it is a catalyst for regional change. AECOM envisions this collaboration as the first step in a long-term strategy to introduce AI-powered smart solutions to cities across Colombia and Latin America. By demonstrating the power of AI and IoT to transform urban spaces, Santa Marta will serve as a model for future smart city projects across the region."

Santa Marta: A New Era of AI-Powered Innovation

The consortium's combined solutions will empower Santa Marta to become a benchmark for AI-driven urban transformation. By integrating Artificial Intelligence into every layer of the city's infrastructure, the project promises to enhance safety, connectivity and operational efficiency. Key AI-driven components include:

• AI-Enhanced Smart Lighting: Deployment of AI video analytics, environmental sensors, and advanced Wi-Fi and 5G capabilities. These systems will enable real-time data collection and analysis to improve safety, reduce energy consumption and optimise urban planning.

• Cybersecure Communication Nodes: AI-driven cybersecurity will protect the city's critical communication infrastructure, including nodes that integrate fibre optic connectivity and manage IoT devices. These nodes ensure secure data transmission and protect against potential cyber threats.

• Interactive AI Kiosks: Strategically located kiosks powered by Gorilla's AI platform will provide tourists and residents with real-time information on historical sites, local attractions, and essential city services. These kiosks will also serve as hubs for collecting AI-processed data to improve city services.

• Smart Mobility and Parking: AI algorithms will power intelligent parking systems, congestion management tools, and real-time traffic monitoring, reducing bottlenecks and improving transportation flow across Santa Marta.

• AI Video Analytics for Public Safety: Advanced AI-powered cameras and analytics will be deployed throughout the city to enhance public safety by detecting and analysing potential threats in real time.

• Environmental Monitoring and Insights: AI-powered sensors will collect and analyse environmental data, including air quality, temperature and noise levels, providing actionable insights to create a healthier, more sustainable urban environment.

Catalysing Growth Across Latin America - AI, Cybersecurity and Global Collaboration

Robert J.Rodriguez, Chairman & Co-Founder, NC Digy Smart Cities, said, "The Santa Marta project highlights Gorilla Technology's expertise in AI-driven cybersecurity and video analytics, ensuring a resilient and future-proof smart city infrastructure. This collaboration, supported by the British Government & The American Governments, underscores the importance of international partnerships in delivering scalable and secure solutions for urban challenges."

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.

For more information, please visit our website: Gorilla-Technology.com.

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 beliefs about our ability to execute definitive agreements related to this smart education project, attract the attention of customers and win additional projects, 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.