Vancouver, British Columbia–(Newsfile Corp. – December 4, 2024) – Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) (“Energy Plug” or the “Company”) , an expansion plan leveraging partnerships with Greenwood Energy Corp. and Malahat Battery Technologies for sustainable energy solutions and cryptocurrency mining. The initiative, centered in Greenwood, British Columbia, will initially focus on Dogecoin mining and establish a comprehensive supply chain and infrastructure to develop Battery Energy Storage System (BESS) crypto mining containers. The purpose is
Greenwood Energy Corp. will play a key role as the central hub for the assembly and distribution of BESS cryptocurrency mining containers. Equipped with large machinery and a team of experts, this facility is conveniently located near rail infrastructure to streamline transportation logistics. The plan also recommends the recommissioning of the Greenwood substation to ease operations and allow for the initial deployment of the BESS crypto miner, which has a capacity of just under 1 megawatt (MW).
Malahat Battery Technologies will assemble advanced battery systems that will be integrated into containers at its Greenwood workshop. This partnership highlights the strength of Energy Plug's indigenous partnerships, which not only support local development but also open up opportunities for cross-border power distribution as a potential future endeavor.
The deployment includes a solar-powered crypto mining facility located on Greenwood Energy Corp's four-acre land package with an innovative thermal storage system that captures and reuses heat from crypto mining operations. Includes farm. Additional renewable energy sources such as river run-off electricity and heritage site electricity will supplement operations. This phase lays the foundation for expanding operations beyond the originally proposed capacity and drives significant revenue potential and operational improvements with plans to expand to greater capacity.
This initiative reflects Energy Plug's vision to build a scalable and revenue-generating infrastructure. By aligning the expansion strategy with measurable capacity goals, the partnership is poised to scale beyond its initial stage, targeting multi-megawatt BESS deployments to meet the growing demands of the crypto mining industry. Indicates that
Brodie Gunning, CEO of Energy Plug, emphasized the importance of this project: “Our partnership with Greenwood Energy Corp. and Malahat Battery Technologies represents a bold step in combining innovative energy solutions with advanced cryptocurrency mining. , by focusing on scalable operations, we not only create and impact immediate energy solutions, but also those that pave the way for long-term growth, sustainability and economic return. there is.”
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“The Board of Trade is proud to support Energy Plug Technologies and Greenwood Energy Corporation for bringing this job opportunity to our city,” said Greenwood Board of Trade Chairman Barry Noll. “This fantastic project will only help to enhance and showcase this wonderful region of the state.” Greenwood welcomes this green energy project opportunity and looks forward to mutual prosperity. ”
Greenwood, British Columbia is poised to become a strategic hub for energy container production and cryptocurrency mining operations, positioning the region as a cornerstone of innovation. This work is underpinned by sustainable practices such as solar power generation, thermal storage and the integration of indigenously run renewable energy projects, all of which contribute to low carbon emissions. Initial deployments of just under 1 MW of capacity have laid the foundation for scalable operations, with plans to expand to multi-megawatt operations. Additionally, indigenous partnerships offer significant benefits by enabling cross-border electricity supply, providing significant opportunities for future growth.
About Greenwood Energy Co., Ltd. Greenwood Energy Corp. is an advanced energy solutions company based in Greenwood, British Columbia, focused on advancing sustainable and innovative energy projects. The company specializes in the construction and assembly of advanced shipping containers and related infrastructure. Greenwood Energy Corp. leverages its rail network and proximity to local resources to streamline logistics and expand its reach. Committed to environmental stewardship and community collaboration, the company plays a vital role in driving the adoption of renewable energy technologies and supporting the development of a resilient, low-carbon energy future.
About Energy Plug Technologies Corp. Energy Plug Technologies Corp. is an energy technology company dedicated to innovation and sustainability. Focused on residential, commercial and utility energy storage applications, our goal is to advance battery technology to enhance energy management and grid resiliency. Based in British Columbia, the company leverages strategic partnerships with Indigenous communities and the development of a vertically integrated supply chain involving leading industry players in Taiwan to provide advanced solutions to customers and partners. We are aiming for For more information about Energy Plug, please visit our website https://energyplug.com.
contact address
Energy Plug Technologies Co., Ltd. broderick gunning CEO brodie@energyplug.com
Investor information Renmark Financial Communications Co., Ltd. 1900 – 130 King Street West, Toronto, ON M5X 1E3 John Boydman: jboidman@renmarkfinancial.com Phone number: (416) 644-2020 or (212)-812-7680 www.renmarkfinancial.com
Forward-looking statements
This news release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information often, but not always, includes statements such as “plans,” “intends,” “suggests,” “expects,” “estimates,” “intends,” “anticipates” or “believes.” Can be identified by the use of words. “,” “objective,” or variations (including negative and grammatical variations) of such words or phrases, or “may,” “could,” or “will” that a particular action, event, or result ”, “may” or “happen”, occur, or be accomplished. All statements, other than statements of historical fact, that refer to activities, events, or developments that we believe, expect, or anticipate will occur or may occur in the future, including statements regarding our objectives and strategies. (including but not limited to) are future. -The information you are looking for.
Forward-looking information in this news release includes statements regarding the partnership with Greenwood Energy Corp., the benefits of that partnership, battery energy storage system (BESS) cryptocurrency mining containers and their capacity, and proposed solar power generation systems. but not limited to. We have strengthened the cryptomining farm and its capabilities, expansion potential, earning potential, and cross-border energy export potential. The proposed partnership with Greenwood Energy Corp. is at a very early stage and there can be no assurance that the anticipated benefits will be achieved.
We believe that the forward-looking information we provide is not a guarantee of future results or performance, and actual results may differ materially from the forward-looking information as a result of various risk factors, including: I would like to warn investors that this is true. our ability to develop, implement and apply the EaaS model, our ability to obtain financing, our ability to build a battery assembly plant on Vancouver Island, our ability to secure battery suppliers and obtain batteries at our desired prices, supply chain disruptions, changes in government plans; Limited to matters related to policy. Eliminating or reducing government subsidies for clean energy, batteries, other electric transportation devices such as electric vehicles, electric vehicles and other electric transportation devices, solar panels, and wind energy equipment. changes in Canadian and/or U.S. government policies, rules and regulations and the possibility of war conflicts that could disrupt the supply of components needed to manufacture batteries;
Important assumptions used in developing forward-looking information include general business and economic conditions, financial market conditions, our ability to finance our operations through financings and joint ventures, consulting, technology and This includes, but is not limited to, the procurement of related services and supplies. favorable conditions, the attraction and retention of key staff members, market demand for our products, growth prospects for the market for our products, the availability of raw materials and battery pack supplies to meet market demand, the profitability of our facilities, the anticipated the terms of consents, permits and approvals required to carry out the proposed operations, our ability to comply with such terms on a cost-effective basis and our continued relationships with industry regulatory authorities;
Although the Company's management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, There may be other factors that cause the results to differ from those anticipated, estimated or intended. . There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements or forward-looking information. Readers are cautioned that the forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Investing in our securities is highly speculative.
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