Partnership will span residential energy storage, distributed AI computing, Virtual Power Plants (“VPP”), and strategic investment, with Canada and the United States as the initial launch marketsRIFO Group* (“RIFO”) and Zhejiang Star New Energy Technology Co., Ltd. (“Star New Energy”) have entered into a Strategic Cooperation Agreement and related supplementary agreements, establishing a comprehensive partnership to develop next-generation residential energy and AI infrastructure.The collaboration will encompass the joint development and manufacturing of residential energy storage products for the North American market, integration of the companies’ technology platforms; distributed residential AI computing infrastructure; VPP operations; and strategic capital collaboration. Canada and the United States will serve as the initial launch markets, with residential energy storage as the first area of commercialization.Combining complementary capabilitiesHeadquartered in Canada, RIFO operates an integrated residential services ecosystem spanning&nbsp;real estate, home finance and home services. The Group’s network includes nearly 6,000 real estate agents and employees, generates annual Gross Transaction Value of more than CAD 20 billion and serves a customer base of over 300,000 households.Supported by its proprietary LIVOS** digital platform and RIFO Home 5S flagship store service network, RIFO is expanding its home solutions model toward an AI-powered platform designed to support homeowners throughout the residential lifecycle.Star New Energy is an AI-driven energy storage technology company specializing in ultra-long-duration energy storage, with vanadium redox flow battery (VRFB) technology at the core of its portfolio. The company develops and manufactures VRFB stacks and systems, as well as lithium iron phosphate (LFP) energy storage systems. Its capabilities also extend to the investment, development, intelligent operation and maintenance, and power trading of energy storage projects, as well as the development of zero-carbon industrial parks, providing integrated capabilities across energy storage, management and trading.Driven by its mission to "maximize the value of every Kilowatt-Hour," Star New Energy has built an integrated smart energy ecosystem covering energy storage, intelligent management and power trading. Its hybrid energy storage architecture combines flow battery and lithium-ion technologies to deliver full-lifecycle solutions from deployment and operation to optimization and energy trading.&nbsp;Powered by its proprietary AI model, the company has also developed three core technology platforms: a multi-mode hybrid energy storage dispatch platform, an intelligent digital operations and maintenance platform, and a power trading platform. This technology foundation extends across the full scale of the energy transition — from utility-scale grid deployments to residential and smart home energy systems — with capabilities across hardware research and development, manufacturing, supply chain management and global delivery. At the heart of this reach is Star New Energy's proprietary GreenGrid OS architecture, which integrates energy storage hardware, power conversion, energy management, VPP dispatch and distributed computing capabilities, positioning the company to capture demand across every layer of the energy system, from power grids to individual homes.Advancing residential energy solutions in North AmericaUnder the partnership, RIFO and Star New Energy will jointly develop residential energy storage products and advance their certification, mass production and localized deployment across North America.RIFO will lead regional channel development, market deployment and local regulatory compliance, drawing on its customer network, LIVOS platform and RIFO Home 5S service infrastructure. Star New Energy will lead hardware research and development, engineering, testing, manufacturing and supply chain delivery.The companies will also work to integrate GreenGrid OS with LIVOS, enabling coordinated device management, energy dispatch and distributed computing.Strategic investment and commercial collaborationAlongside the industrial partnership, the companies have entered into a USD 30 million strategic investment and commercial transaction agreement. The agreement comprises a pre-IPO strategic investment by Star New Energy in RIFO and the bulk procurement of residential energy storage products.The two companies have also established a framework for longer-term, two-way strategic capital collaboration.Expanding RIFO’s residential ecosystemThe agreement with Star New Energy follows RIFO’s strategic cooperation with Golden Home (603180.SH), a leading whole-home customization company listed on the Shanghai Stock Exchange. Together, these initiatives reflect RIFO’s continued expansion into energy management, smart living and distributed AI computing.The RIFO Home 5S Operations Centre opened in Shunde, China, in May 2026, providing an offline platform for integrated home customization and smart living solutions. RIFO’s first Canadian Home 5S flagship store, located in Markham, Ontario, is scheduled to open this fall.In addition to home furnishing services, the RIFO Home 5S network is expected to support customer education and experience, installation, and ongoing lifecycle services for residential energy storage, distributed computing and VPP solutions.By connecting the LIVOS digital platform, its physical service network and distributed residential computing infrastructure, RIFO aims to build an integrated platform spanning property transactions, finance, home living, energy management and AI-enabled services.The partnership with Star New Energy represents another important step in RIFO’s strategy to develop a differentiated, technology-enabled residential ecosystem in North America and beyond.&nbsp;* RIFO Group refers to the group of companies comprising RIFO Holding Group Inc. and its direct and indirect operating subsidiaries, including RIFO Realty Group, RIFO Fintech Group, RIFO Home Solutions, and affiliated brokerages. Each operating subsidiary is a separate legal entity responsible for its own business activities and compliance within its respective jurisdiction.** LIVOS refers to Living Infrastructure &amp; Value Operating System<figure class="image"><img src="https://files.rifo.co/CompanySite/244/244_1.png"></figure>Members of the executive leadership teams of RIFO Group and Star New Energy mark the launch of the companies’ strategic cooperation.(From left)&nbsp;Chengyuan Liu, President of Star New Energy; Johnson Ji, CEO of RIFO Holding Group; Na Liu, Founder of Star New Energy; Ryan Shang, President of RIFO Home Solution&nbsp;<figure class="image"><img src="https://files.rifo.co/CompanySite/244/244_2.png"></figure>A manufacturing facility of Star New Energy Technology in China&nbsp;<figure class="image"><img src="https://files.rifo.co/CompanySite/244/244_3.png"></figure>Electricity Trading Centre of Star New Energy Technology&nbsp;

RIFO and Zhejiang Star New Energy Technology Form Strategic Partnership to Advance AI-Powered Living Infrastructure

August 12, 2026 — RIFO Group* (“RIFO”) and Zhejiang Star New Energy Technology Co., Ltd. (“Star New Energy”) have entered into a Strategic Cooperation Agreement and related supplementary agreements, establishing a comprehensive partnership to develop next-generation residential energy and AI infrastructure.

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