Energy Plug Partners with Greenwood Energy Corp. to Launch Sustainable Cryptocurrency Mining Operation
Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF) has announced a strategic partnership with Greenwood Energy Corp. and Malahat Battery Technologies to launch a sustainable cryptocurrency mining operation in Greenwood, BC. The initiative focuses on developing Battery Energy Storage System (BESS) crypto mining containers for Dogecoin mining.
The project involves re-commissioning the Greenwood substation for an initial capacity of just under 1 megawatt (MW), with plans for future expansion. The operation will utilize solar power, heat storage systems, and additional renewable energy sources including run-of-river power. Malahat Battery Technologies will assemble advanced battery systems at the Greenwood workshop, which is strategically located near rail infrastructure for efficient distribution.
Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF) ha annunciato una partnership strategica con Greenwood Energy Corp. e Malahat Battery Technologies per lanciare un'operazione di mining di criptovalute sostenibile a Greenwood, BC. L'iniziativa si concentra sullo sviluppo di contenitori per il mining di criptovalute con Sistemi di Accumulo di Energia (BESS) per il mining di Dogecoin.
Il progetto prevede la rimessa in funzione della sottostazione di Greenwood per una capacità iniziale di poco meno di 1 megawatt (MW), con piani per una futura espansione. L'operazione utilizzerà energia solare, sistemi di accumulo di calore e altre fonti di energia rinnovabile, inclusa l'energia da corsi d'acqua. Malahat Battery Technologies assemblerà sistemi di batterie avanzate presso il laboratorio di Greenwood, strategicamente situato vicino a infrastrutture ferroviarie per una distribuzione efficiente.
Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF) ha anunciado una asociación estratégica con Greenwood Energy Corp. y Malahat Battery Technologies para lanzar una operación de minería de criptomonedas sostenible en Greenwood, BC. La iniciativa se centra en desarrollar contenedores para minería de criptomonedas con Sistemas de Almacenamiento de Energía de Batería (BESS) para la minería de Dogecoin.
El proyecto implica la remodelación de la subestación de Greenwood con una capacidad inicial de poco menos de 1 megavatio (MW), con planes para futuras expansiones. La operación utilizará energía solar, sistemas de almacenamiento térmico y otras fuentes de energía renovable, incluida la energía de ríos. Malahat Battery Technologies ensamblará sistemas de baterías avanzadas en el taller de Greenwood, que está estratégicamente ubicado cerca de la infraestructura ferroviaria para una distribución eficiente.
Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF)는 Greenwood Energy Corp. 및 Malahat Battery Technologies와 전략적 파트너십을 체결하고 BC주 그린우드에서 지속 가능한 암호화폐 채굴 작업을 시작한다고 발표했습니다. 이 이니셔티브는 도지코인 채굴을 위한 배터리 에너지 저장 시스템(BESS) 암호화폐 채굴 컨테이너 개발에 중점을 두고 있습니다.
이 프로젝트는 초기 용량이 1MW 미만인 그린우드 변전소를 재가동하는 것을 포함하며, 향후 확장을 계획하고 있습니다. 이 작업은 태양광, 열 저장 시스템 및 하천 에너지를 포함한 추가 재생 가능 에너지원들을 사용할 것입니다. Malahat Battery Technologies는 효율적인 분배를 위해 철도 인프라 근처에 전략적으로 위치한 그린우드 작업장에서 고급 배터리 시스템을 조립할 것입니다.
Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF) a annoncé un partenariat stratégique avec Greenwood Energy Corp. et Malahat Battery Technologies pour lancer une opération de minage de cryptomonnaies durable à Greenwood, BC. L'initiative se concentre sur le développement de conteneurs de minage de cryptomonnaies avec des Systèmes de Stockage d'Énergie par Batterie (BESS) pour le minage de Dogecoin.
Le projet implique la remise en service de la sous-station de Greenwood pour une capacité initiale de juste en dessous de 1 mégawatt (MW), avec des plans d'expansion future. L'opération utilisera l'énergie solaire, des systèmes de stockage de chaleur et d'autres sources d'énergie renouvelable, y compris l'énergie des rivières. Malahat Battery Technologies assemblera des systèmes de batteries avancées dans l'atelier de Greenwood, qui est stratégiquement situé près des infrastructures ferroviaires pour une distribution efficace.
Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF) hat eine strategische Partnerschaft mit Greenwood Energy Corp. und Malahat Battery Technologies angekündigt, um eine nachhaltige Kryptowährungs-Mining-Operation in Greenwood, BC, zu starten. Die Initiative konzentriert sich auf die Entwicklung von Containern für das Krypto-Mining mit Batteriespeichersystemen (BESS) für das Dogecoin-Mining.
Das Projekt umfasst die Wiederinbetriebnahme der Umspannstation in Greenwood mit einer anfänglichen Kapazität von etwas weniger als 1 Megawatt (MW), mit Plänen für eine zukünftige Erweiterung. Der Betrieb wird Solarenergie, Wärmespeichersysteme und zusätzliche erneuerbare Energiequellen, einschließlich Flusskraft, nutzen. Malahat Battery Technologies wird fortschrittliche Batteriesysteme in der Werkstatt in Greenwood zusammenbauen, die strategisch günstig in der Nähe von Schieneninfrastrukturen für eine effiziente Verteilung liegt.
- Strategic location near rail infrastructure for efficient logistics
- Initial mining capacity of nearly 1MW with plans for multi-megawatt expansion
- Integration of renewable energy sources including solar and run-of-river power
- Heat recycling system implementation for improved energy efficiency
- Cross-border power distribution potential through indigenous partnerships
- Significant capital investment required for infrastructure development
- Initial mining capacity to under 1MW
- Dependency on re-commissioning of Greenwood substation
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2024) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug" or the "Company") announces an expansion plan, leveraging partnerships with Greenwood Energy Corp. and Malahat Battery Technologies for sustainable energy solutions and cryptocurrency mining. Centralized in Greenwood, BC, this initiative aims to establish a comprehensive supply chain and infrastructure to develop Battery Energy Storage System (BESS) crypto mining containers, with an initial focus on mining Dogecoin.
Greenwood Energy Corp. will play a pivotal role as the central hub for assembling and distributing BESS crypto mining containers. The facility, equipped with heavy-duty machinery and expert teams, is conveniently located near rail infrastructure for efficient shipping logistics. The plan also advocates for the re-commissioning of the Greenwood substation to facilitate operations, enabling an initial phase rollout of BESS crypto miners with a capacity of just under 1 megawatt (MW).
Malahat Battery Technologies will assemble advanced battery systems that are integrated into the containers at the Greenwood workshop. This collaboration highlights the strength of Energy Plug's indigenous partnerships, which not only supports local development but also opens opportunities for cross-border power distribution as a potential future initiative.
The rollout will include a solar-powered Crypto Mining farm located on Greenwood Energy Corps 4-acre land package featuring innovative heat storage systems to capture and reuse heat from the crypto mining operations. Additional renewable energy sources such as run-of-river power and heritage site power will supplement operations. This phase lays the foundation for scaling operations beyond the initial proposed capacity, with plans to expand to larger capacities, driving significant revenue potential and operational upside.
This initiative reflects Energy Plug's vision of creating scalable and revenue-generating infrastructure. By aligning the expansion strategy with measurable capacity goals, the partnership signals its readiness to scale beyond the initial phase, targeting multi-megawatt BESS deployments to meet the growing demands of the cryptocurrency mining industry.
Brodie Gunning, CEO of Energy Plug, emphasized the project's significance:
"Our collaboration with Greenwood Energy Corp. and Malahat Battery Technologies represents a bold step in combining innovative energy solutions with advanced cryptocurrency mining. By re-commissioning key infrastructure, integrating indigenous partnerships, and focusing on scalable operations, we're not only creating immediate impact but also paving the way for long-term growth, sustainability, and economic benefit."
The Greenwood Board of Trade President Barry Noll states, "The Board of Trade proudly supports Energy Plug Technologies and Greenwood Energy Corp for bringing this employment opportunity into our city. This amazing project will only help to enhance and showcase what a great region in the province Greenwood is located. We welcome this green energy project opportunity and look forward to mutual prosperity."
Greenwood, BC, is poised to become a strategic hub for energy container production and cryptocurrency mining operations, positioning the region as a cornerstone of innovation. This initiative is underpinned by sustainable practices, including the integration of solar power, heat storage, and indigenous-run renewable energy projects, all contributing to a low-carbon footprint. The initial deployment of just under 1 MW of capacity lays the groundwork for scalable operations, with plans to expand to multi-megawatt operations. Additionally, the indigenous partnership offers a significant advantage by enabling cross-border power distribution, unlocking considerable opportunities for future growth.
About Greenwood Energy Corp.
Greenwood Energy Corp. is a forward-thinking energy solutions company based in Greenwood, BC, dedicated to 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 proximity to rail networks and local resources to streamline logistics and expand its reach. Committed to environmental stewardship and community collaboration, the company plays a pivotal 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. With a focus on residential, commercial, and utility energy storage applications, our goal is to advance battery technologies to enhance energy management and grid resiliency. Based in British Columbia, we seek to leverage strategic partnerships with Indigenous communities and the development of a vertically integrated supply chain involving industry-leading companies in Taiwan to provide advanced solutions to our customers and partners. For more information about Energy Plug, visit our website at https://energyplug.com.
Contact Information
Energy Plug Technologies Corp.
Broderick Gunning
CEO
brodie@energyplug.com
Investor Relations
Renmark Financial Communications Inc.
1900 - 130 King Street West, Toronto, ON M5X 1E3
John Boidman: jboidman@renmarkfinancial.com
Tel.: (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 legislation. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "will", "proposes", "expects", "estimates", "intends", "anticipates" or "believes", "aim", or variations (including negative and grammatical variations) of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding any objectives and strategies of the Company) are forward-looking information.
The forward-looking information in this news release includes but is not limited to the statements about the partnership with Greenwood Energy Corp., the benefits of such partnership, Battery Energy Storage System (BESS) crypto mining containers and their capacity, a proposed solar-powered Crypto Mining farm and its capacity, potential for expansion, revenue potential and potential of cross border energy exports. The proposed partnership with Greenwood Energy Corp is at a very early stage and there can be no guarantee that it will result in the anticipated benefits.
The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various risk factors, including, but not limited to ability to develop, implement and apply the EaaS model, obtaining financing, ability to build the battery assembly factory on Vancouver Island, ability to secure suppliers of batteries and obtaining batteries at desired prices, supply chain disruptions, changing government plans, policies regarding clean energy, batteries, electric vehicles and other electric transportation devices, elimination or reduction of government subsidies for electric vehicles and other electric transportation devices, solar panels, and wind power installations; changes in the Canadian and/or the US Government policies, rules and regulations, and potential war conflicts which may disrupt supply of the components required to produce batteries.
The material assumptions used to develop forward-looking information include, but are not limited to general business and economic conditions, financial markets conditions, the Company's ability to fund its operations through financings and joint ventures, procurement of consulting, technical and related services and supplies on favourable terms, attraction and retention of key staff members, market demand for the Company's products, growth prospects in the market for its products, accessibility of raw materials and battery pack supplies to meet market demand, facility profitability, the anticipated terms of the consents, permits and authorizations necessary to carry out the planned operations and the Company's ability to comply with such terms on a cost-effective basis, and the ongoing relations with the industry regulators.
Although management of the Company 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 results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that 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. Investment in the securities of the Company is highly speculative.
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