Mint Incorporation Limited (("Mint" or the "Group", NASDAQ:MIMI), a Hong Kong-based company with a new strategic focus on artificial intelligence (AI) and robotics, and an established business interior design and fit-out works provider, today announced that its wholly-owned subsidiary, Axonex Intelligence Limited ("AXONEX") has entered into a joint venture agreement (the "JV Agreement") with Synergy Technology Group Limited ("STG") to establish Axonex Automation Limited ("JV company"), a new Hong Kong-based joint venture company focused on commercializing advanced digital twin and drone flight control technologies in Hong Kong and selected overseas markets.
Under the JV Agreement, AXONEX will hold an 80% equity interest in Axonex Automation Limited, while STG will hold the remaining 20%. The joint venture will combine AXONEX's operational resources and international business capabilities with STG's proven technology in digital twins and drone flight control systems to drive scalable deployment in sectors such as infrastructure inspection, utilities, smart cities, and industrial operations.
AXONEX has committed to provide up to HK$ 20,000,000 of capital to the joint venture in stages, subject to the achievement of defined business and technical milestones set out in the agreement. The funding will be released through four tranches over an expected 12–24-month period.