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WANG & LEE GROUP, Inc.
WANG & LEE GROUP, Inc.
WANG & LEE GROUP, Inc.
WANG & LEE GROUP, Inc.
WANG & LEE GROUP, Inc.
Historic partnership combines sustainable resource extraction with renewable energy innovation, driving growth in Australia’s marble quarrying and green tech sectors
Hong Kong, March 06, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc. (Nasdaq: WLGS), a multinational leader in sustainable infrastructure and resource development, today announced it has been awarded a US$71 million contract by NQ Marble Pty Ltd, a Queensland-based marble quarrying enterprise, to exclusively undertake (i) the exploration and quarrying of natural marble and (ii) the design and implementation of a solar battery crypto farm across multiple sites in Queensland, Australia. A non-refundable deposit of US$1 million has been paid by NQ Marble to WLGS. This groundbreaking initiative will optimize 25.42 km² of land by integrating marble production with renewable energy generation, capitalizing on Queensland’s world-class solar resources and accelerating Australia’s transition to sustainable industrial practices. This pioneering project taps into Australia’s underutilized solar resources, leveraging average annual solar irradiance of 5.5–6.0 kWh/m²/day—exceeding regions like Japan (3.5–4.0 kWh/m²/day) and Germany (2.8–3.2 kWh/m²/day).
Synergizing Marble Production and Renewable Energy
Under the agreement, WLGS will leverage its expertise to extract high-value marble from NQ Marble’s existing sites while simultaneously developing a state-of-the-art solar battery crypto farm across idle portions of the land. Queensland’s exceptional solar exposure—averaging over 300 days of sunshine annually—positions the region as an ideal hub for renewable energy projects. The solar farm will power cryptocurrency mining operations, with excess energy stored in advanced battery systems to ensure uninterrupted productivity and reduce reliance on fossil fuels.
Key Benefits of the Dual-Purpose Model:
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Maximizing Land Utility: By repurposing idle quarry areas for solar energy, the project avoids leaving vast tracts of land underutilized, generating dual revenue streams from marble sales and crypto mining operations.
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Sustainable Growth: The solar crypto farm aligns with Australia’s renewable energy targets, reducing carbon emissions while supporting the booming demand for “green” blockchain technologies.
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Economic Value: WLGS will derive revenue from both marble sales and crypto mining, enhancing profitability across the project’s lifecycle.