Gorilla Technology Group Secures Significant Smart Government Cybersecurity Project

Large scale project in MENA region focused on Security Convergence solutions

LONDON, April 06, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. ("Gorilla”) (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, today announced that it has won a significant Smart Government project in the MENA region.

"I’m humbled and overjoyed by this win, which represents one of the most substantial projects in Gorilla’s history,” said CEO Jay Chandan. "Our team's unwavering determination and hard work have led us to this milestone and I'm immensely proud of their achievements. This significant entry into the MENA region brings us closer to our mission of expanding our global footprint and driving innovation that empowers people and organizations around the world.

"At Gorilla we have remained dedicated to creating technological solutions for both public and private sectors for over two decades now. Being awarded the initial project in the MENA back in November was an important win, but now that we've secured this additional opportunity in the region, I believe we have established Gorilla as a key player in the market. Governments in the region are investing heavily to transition from legacy systems to disruptive and newer technologies and are experiencing a significant leapfrog event in their digital transformation journey and we are well positioned to help build it.

"We've secured the first phase of the project, which is expected to be over $100 million in value, and expect the second phase, which will begin later this year, to be higher in value. This deal is the largest in Gorilla's history and is a testament to the trust and confidence in our products and solutions.”

"The win demonstrates Gorilla’s abilities as an end-to-end solutions provider and global operator. Our deliverables include building out the infrastructure layer, customizing our software solutions, integrating the entire system and ultimately managing the system through its lifecycle. The bottom line is it cements Gorilla as a platform-as-a-service solution provider,” added Chandan.

About Gorilla Technology Group Inc.
Gorilla, headquartered in London U.K., is a global solution provider in security intelligence, network intelligence, business intelligence and IoT technology. Gorilla develops a wide range of solutions including Smart Cities, Smart Retail, Enterprise Security, and Smart Media. In addition, Gorilla provides a complete Security Convergence Platform to government institutions, telecom companies and private enterprises with network surveillance and cyber security.

Gorilla places an emphasis on offering leading technology, expert service, and precise delivery, and ensuring top-of-the-line, intelligent and strong edge AI solutions that enable clients to improve operational performance and efficiency. With continuous core technology development, Gorilla will deliver edge AI solutions to managed service providers, distributors, system integrators, and hardware manufacturers. 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 Nasdaq listing improving our ability to attract the attention of customers and investors alike, our ability to fund operations as we execute a strategic shift to pursue the larger and higher margin opportunities in Security Convergence, our expectations to swing to profit in the quarters ahead, our immediate priorities, Gorilla’s strategic shift to enable it to pursue larger projects with better revenue visibility, along with those other risks described under the heading "Risk Factors” in the prospectus Gorilla filed with the Securities and Exchange Commission (the "SEC”) on July 7, 2022, 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.

Media Contact:
Jeff Fox
The Blueshirt Group for Gorilla
+1 (415) 828-8298
jeff@blueshirtgroup.com

Investor Relations Contact:
Gary Dvorchak
The Blueshirt Group for Gorilla
+1 (323) 240-5796
gary@blueshirtgroup.com

Scott McCabe
The Blueshirt Group for Gorilla
+1 (917) 434-3275
scott@blueshirtgroup.com