KUALA LUMPUR, Malaysia, Sept. 22, 2026 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a Southeast Asia–anchored technology company focused on AI-powered enterprise solutions and digital transformation, today announced that its subsidiary, Tadaa Technology Sdn Bhd (“Tadaa”), has entered into a strategic partnership with Kainan Sdn Bhd (“Kainan”) to provide AI-enabled technology solutions for a proposed US$367 million solar farm development spanning approximately 1,000 acres with a planned capacity of 360 megawatts (“MW”). The project is intended to supply renewable energy to a data centre under a 25-year power supply arrangement.
The project marks Tadaa’s expansion into large-scale renewable-energy technology and provides a long-term commercial framework for the deployment. Upon full deployment, Tadaa is targeting approximately US$7.3 million in annual technology-related revenue from the project.
Under the partnership, Tadaa will provide the AI-powered digital backbone for the solar farm, integrating IoT-enabled infrastructure, intelligent energy management, real-time performance monitoring, data analytics, predictive maintenance, system integration and secure cloud infrastructure. The technology is intended to support reliable, efficient and data-driven management of renewable-energy generation.
“This initiative represents an important step in extending our AI and technology capabilities into large-scale renewable-energy infrastructure,” said Sam Teo, Acting Chief Executive Officer of Treasure Global. “The 360 MW project, supported by a 25-year power supply arrangement for a data centre, provides Tadaa with an opportunity to establish a strong track record in AI-enabled energy management. As data-centre energy demand and renewable-energy infrastructure continue to grow, we believe intelligent monitoring, analytics and predictive capabilities will become increasingly important in improving asset performance, operational efficiency and the reliability of large-scale renewable-energy infrastructure.”
The project positions Treasure Global within one of the world’s fastest-growing energy markets. Global solar PV capacity increased from approximately 710 GW in 2020 to 1,865 GW by the end of 2024, while global investment in solar PV was expected to reach approximately US$450 billion in 2025, according to the International Energy Agency (“IEA”), underscoring the scale of the market opportunity for technology-enabled solar infrastructure.
Malaysia is also accelerating its renewable-energy transition under the National Energy Transition Roadmap (“NETR”), which targets renewable energy accounting for 40% of installed capacity by 2035 and 70% by 2050. The upcoming Large-Scale Solar 6 (“LSS6”) program is expected to add approximately 2,650 MW of new capacity, highlighting the growing domestic pipeline for renewable-energy technology and energy-management solutions.
The initiative also aligns with the global transition toward cleaner energy infrastructure and growing environmental, social and governance (“ESG”) priorities, while extending Treasure Global’s AI and technology capabilities into a high-growth infrastructure sector.
Treasure Global views the 360 MW project as a potential foundation for further expansion into renewable-energy technology serving energy-intensive infrastructure. The Company intends to leverage the deployment as a reference for future solar, data-centre energy and clean-energy opportunities in Malaysia and across Southeast Asia, creating potential for additional recurring technology revenue and long-term growth.
Kainan is a Malaysia-based renewable energy company established in 2007, specializing in the development of solar energy projects and participating in Malaysia's Corporate Renewable Energy Supply Scheme (CRESS).
About Treasure Global:
Treasure Global is a Malaysia-based technology solutions provider specializing in innovative platforms that drive digital transformation in retail and services. The Company’s flagship product is the ZCITY Super App, which integrates e-payment solutions with customer loyalty rewards to create a seamless online-to-offline user experience. As of March 31, 2026, ZCITY has attracted 2.71 million registered users, positioning Treasure Global as a key player in Malaysia’s digital economy. Treasure Global continuously leverages cutting-edge technologies, including artificial intelligence and data analytics, to enhance its platform’s capabilities across e-commerce, fintech, and other verticals.
Visit treasureglobal.org for more information.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect the Company’s current expectations, assumptions, and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements typically include terminology such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” or similar expressions.
Factors that could cause actual results to differ materially include, without limitation, the development and completion of the proposed solar project; achievement of the planned 360 MW capacity; performance and duration of the contemplated power supply arrangement; Tadaa’s ability to deploy and commercialize its AI-enabled technology solutions; achievement of targeted annual revenue; project financing and execution; regulatory and permitting requirements; technology performance; data-centre power demand; cybersecurity and data privacy risks; changes in renewable-energy policies; and broader economic and energy-market conditions.
The forward-looking statements in this press release speak only as of the date hereof. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
CONTACT
Investor and media contact:
Investor Relations Team
Treasure Global
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