News of Multi-Million Dollar Solar Project Sale Sending Shares Higher in Afternoon Trading

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Thursday, June 6, 2024

Shares of this firm are trading up on news of a 2.425 GW solar project sale. As a global technology enabler serving as an independent power provider with a core business in Battery Energy Storage Systems (BESS) to enhance grid stability and produce sustainable revenues, Bitech Technologies Corporation [OTCQB: BTTC) is committed to advancing utility-scale energy storage initiatives and innovative renewable solutions. 

In a press release today, the firm announced the execution of a Project Sale Agreement with Bridgelink Development LLC for certain Greenfield Solar Projects that Bitech had acquired on April 24, 2024, in its business combination with Emergen Energy LLC. This agreement entails the transfer of an approximate 2.425 GW capacity portion from our total 3.840 GW solar project portfolio of Emergen, a wholly owned subsidiary of Bitech.

Benjamin Tran, Chairman and CEO of Bitech Technologies, said, “In light of our expansive vision for the global energy storage market, the Bitech board of directors has approved management's proposal to divest 2.425 gigawatts from our solar project portfolio. This strategic move will allow us to focus on our core business in Battery Energy Storage Systems (BESS), as we firmly believe that the U.S. BESS market presents one of the most substantial and rapidly expanding opportunities for investment return worldwide.”

Shares were trading up in late afternoon trading.

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