ENERGY PLUG TECH CORP - PLGGF STOCK NEWS

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) has announced a strategic partnership with Moneta Securities (Alberta) Corp. to support the financing and construction of the Malahat Battery Technologies plant. This facility, a joint venture between Energy Plug and the Malahat Nation, will produce large-scale energy storage solutions for utility and off-grid customers.

CEO Broderick Gunning emphasized the priority of rapid construction to meet immediate customer needs. Moneta, led by Founding Partner Erin Campbell, brings expertise in capital strategies for energy infrastructure projects and a history of partnering with First Nations communities. The collaboration aims to ensure timely construction and full operational capability of the plant to serve the market's energy storage needs.

This partnership underscores Energy Plug's commitment to addressing the global demand for energy storage infrastructure, focusing on providing efficient, sustainable solutions for the future.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) has appointed Travis Gabert as its new Vice President of Sales. With 29 years of experience in the battery storage and energy solutions sector, Gabert will lead the commercial rollout of Energy Plug's product portfolio. His expertise spans cell manufacturing, battery system design, and assembly, with leadership roles in OEM battery solutions across various industries.

Gabert will play a important role in introducing the company's next-generation battery storage systems, including those developed through a joint venture with Malahat Battery Technologies Corp. These systems are designed for diverse sectors such as utilities, mining, data centers, and residential applications. As a member of the Haida Nation, Gabert expressed excitement about contributing to a company focused on energy innovation and Indigenous-led projects.

CEO Broderick Gunning highlighted Gabert's unique combination of technical and sales expertise, emphasizing his potential to expand Energy Plug's customer base and accelerate sales growth as the company enters a new phase of commercialization.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) has entered the final testing phase for its two flagship 20kWh products, set for official launch in November 2024. The company's innovative energy pole and pad-mounted units offer parallel battery connection with advanced DC-DC converters, addressing challenges in small-scale battery systems. These units come fully integrated with various components and can be enhanced with Energy Plug's in-house Energy Management System (EMS).

Energy Plug has developed a novel system for utility and commercial customers, working alongside partners like BC Hydro. The company is now entering its commercialization phase, targeting a wide range of battery storage and energy delivery systems for utilities, commercial, and residential applications.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has received three additional battery storage system purchase orders in Q3 2024, bringing their total to four orders worth $91,000 this year. The company's sales pipeline is approximately $700 million, with the first product installation scheduled for October 2024.

Two of the new orders are for 20-kilowatt-hour battery systems for commercial operations in British Columbia, while the third is for a similar system for remote monitoring in Alberta. These systems aim to reduce fuel consumption and lower power costs by storing energy during off-peak hours.

Energy Plug plans to unveil new products with installations in British Columbia and Alberta throughout Q4. The company's CEO, Broderick Gunning, stated that shipments from Taiwan-based manufacturing partners are set to accelerate in Q4, with light assembly occurring in Canada prior to the opening of a proposed Gigafactory in partnership with the Malahat Nation.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has signed two Memoranda of Understanding (MOUs) with SEETEL and the NTU Group to enter the grid-scale battery storage market in North America. The SEETEL MOU focuses on developing a gigawatt-hour battery factory, financing opportunities, supply chain optimization, and marketing strategies. The NTU Group MOU concentrates on R&D for Unmanned Aerial Vehicles (UAVs) and marine BESS ecosystems, including joint research, global safety standards development, and testing facilities establishment.

These collaborations aim to strengthen Energy Plug's ability to deliver battery products from Taiwan to Canada and North America, addressing the demand for medium- and large-scale energy storage solutions. The MOUs are non-binding except for public announcements and confidentiality sections, with intentions to negotiate binding agreements within 90 days for SEETEL and 60 days for NTU.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has expanded its executive team to support growth and global reach. Key appointments include Ramtin Rasoulinezhad, PhD as Chief Technology Officer, Chris Barnes as Chief of Staff to the CEO, and Miro Cernetig as Brand and Media Ambassador. The company has granted 950,000 incentive stock options to new team members at $0.06 per share, exercisable for three years.

Energy Plug also provided an update on its ongoing non-brokered private placement, aiming to raise up to $1,000,000 by September 30, 2024. To date, the company has raised $681,000 through this offering of common shares priced at $0.05 each.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) and the Malahat Nation have held a groundbreaking ceremony for Canada's first Indigenous-led gigafactory in Mill Bay, British Columbia. The facility, operating under Malahat Battery Technologies Partnership, aims to produce 1 gigawatt-hour of battery storage systems annually for various markets across North America.

The 56,000-square-foot facility, expected to cost $75 million, is a partnership 51% owned by Malahat Nation and 49% by Energy Plug. Support for the project comes from Siemens Canada, Johnson Controls Canada, Wales McLelland Construction, and Enwind Power Co The gigafactory is scheduled for completion in Q4 2025, addressing critical issues of grid stability and resilience.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has successfully closed the second tranche of its non-brokered private placement, raising $415,000 by issuing 8,300,000 common shares at $0.05 per share. This brings the total gross proceeds from the private placement to $681,000 through the sale of 13,620,000 shares. The funds will be used for general corporate purposes. The company paid $29,200 in finder's fees and issued 584,000 brokers' warrants, exercisable at $0.125 for one year. All securities issued are subject to a four-month hold period.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) has engaged Aktiencheck.de AG for a European marketing awareness program. The program includes 20 editorial write-ups, email marketing campaigns, and targeted distribution to active investors via various channels. Set to commence on August 19, 2024, the program will run for up to 12 months at a cost of EUR 100,000, payable in four instalments of EUR 25,000 over four months. No shares or options were issued as part of this engagement. Aktiencheck.de AG and its principal, Stefan Lindam, currently have no interest in Energy Plug or its securities.