BITECH TECHNOLOGIES CORP - BTTC STOCK NEWS

Bitech Technologies (OTCQB: BTTC) has signed a non-binding term sheet for an $80 million investment tax credit transfer agreement for its 100MW Battery Energy Storage System (BESS) project in Texas. The agreement, with a leading renewable energy investment firm, aims to transfer up to $80 million in federal investment tax credits to potential buyers. Project Redbird is expected to generate approximately $78 million in tax credits by Q3 2025, based on a 50% investment tax credit from the Inflation Reduction Act of 2022.

Bitech anticipates completing financing for its first two 100MW BESS projects in Texas in H2 2024 and aims for initial commercial operation in Q2 2025. The company plans to expand its BESS business from 1.96GW to 5GW over the next 3-5 years, with construction set to begin in early 2025.

Bitech Technologies (OTCQB: BTTC) has provided a business update and key 2024 milestones for its Battery Energy Storage System (BESS) projects. The company has strengthened its position in the renewable energy market with a focus on developing and operating a 3.4GW pipeline of BESS and solar energy projects across key U.S. independent system operators. Bitech recently completed an acquisition to control 1.965GW of BESS projects with an estimated Net Present Value of $325 million.

The company has divested 2.425GW of early-stage solar projects, expecting to receive $19.4 million over 18 months. Bitech is advancing technology integration, including filing a patent for an Edge Server Integrated Utilities Device. The company is progressing with project financing and aims to achieve its first Commercial Operation Date in Summer 2025. Bitech has applied for Nasdaq uplisting and engaged MZ Group for capital markets strategy.

Bitech Technologies (BTTC) has announced the sale of a 2.425 GW portion of its solar project portfolio to Bridgelink Development for $19.4 million. This sale is part of Bitech's strategic shift to focus on the rapidly growing Battery Energy Storage Systems (BESS) market in the US. The deal, completed on May 30, 2024, includes an initial deposit of $943,500. Bitech aims to concentrate on its 1.965 GW BESS portfolio to capitalize on the increasing demand for energy storage solutions. The sale is expected to bolster Bitech's revenue and establish a valuable partnership with a leading renewable infrastructure group. The transaction details are available in the company's Form 8-K filed with the SEC.

Bitech Technologies and Bridgelink Development merge to dominate the U.S. battery energy storage and solar markets. The acquisition of Emergen Energy by Bitech Technologies is set to strengthen its position in the green energy sector and increase its market share in the U.S. renewable market. The partnership aims to invest in clean energy technologies and pave the way for a sustainable future, with plans to uplist to NASDAQ. The strategic merger is expected to bring significant growth opportunities, with a projected NPV of up to $325 million by 2025. With a pipeline of 1.965 GW of BESS projects, Bitech aims to control 10% of the U.S. BESS market share, positioning itself for success and expansion in the renewable energy industry.

Bitech Technologies signs a definitive agreement with Bridgelink for a business combination to acquire battery energy storage systems and solar projects with an estimated capacity of up to 5.8 GW. The agreement includes key points such as Bitech owning 100% of Emergen, Bridgelink owning 31.3% of Bitech's stock, and a focus on advancing development projects in the US. The deal aims to secure financing for projects with a potential valuation of $325 million, contribute to grid stability, and generate sustained revenues through state-of-the-art battery energy storage systems.

Bitech Technologies Corporation appoints Sid Sung as Chief Innovation Officer to lead the Green Energy Technology Solutions division. Sid brings over 30 years of experience in digital energy evolution, IoT, smart cities, and high-growth markets. His leadership aims to drive revenue growth and eco-friendly practices.

Bitech Technologies Corporation completes due diligence on 23 Battery Energy Storage Systems (BESS) development projects with Bridgelink Development LLC. The LOA aims for a business combination between the companies to develop a 5.8 GW pipeline of BESS and solar utility power. The projects hold significant potential value, with competent management and vendors driving their progress. The ERCOT system shows a growing need for battery storage, emphasizing the importance of sustainable energy solutions. Bitech and Bridgelink are committed to a greener energy future, with plans for successful outcomes and future growth.

Bitech Technologies Corporation (BTTC) announces a binding Letter of Agreement (LOA) for a business combination with Bridgelink Development, LLC, a leading solar and energy storage development company. The agreement includes a significant investment amount toward a total 5.8 GW pipeline of utility power, procurement of key resources, and the establishment of a joint venture with an undisclosed larger infrastructure group. The strategic initiatives aim to advance BLD’s 3.840 GW of solar projects and 1.965 GW of Battery Energy Storage Systems (BESS) projects in the United States. The Business Combination calls for a capital infusion of not less than $50 Million into the newly combined entity upon closing this transaction. The LOA is a mutual commitment for a business combination between Bitech and Bridgelink, where Member shall cause BLD’s assets and development service agreements to be transferred into a newly created entity at or prior to the closing date.

Bitech Technologies Corporation (BTTC) announces the launch of its BEMS initiative for MDU buildings, receiving an initial purchase order for a VPP program to save electricity for approximately 4,000 MDU units. The company aims to cater to the increasing demand for energy efficiency in the MDU market, positioning itself for a profitable 2024 fiscal year.