Malahat Nation and Energy Plug Announce Ground Blessing Ceremony for Canada's First Indigenous-Led Gigafactory
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) e la Nazione Malahat hanno tenuto una cerimonia inaugurale per la prima gigafabbrica guidata da Indigeni in Canada a Mill Bay, nella Columbia Britannica. La struttura, operante sotto Malahat Battery Technologies Partnership, punta a produrre 1 gigawattora di sistemi di stoccaggio per batterie annualmente per vari mercati in tutta l'America del Nord.
La struttura di 56.000 piedi quadrati, il cui costo previsto è di 75 milioni di dollari, è una partnership di cui il 51% è di proprietà della Nazione Malahat e il 49% di Energy Plug. Il progetto riceve supporto da Siemens Canada, Johnson Controls Canada, Wales McLelland Construction, e Enwind Power Co. La gigafabbrica è prevista per il completamento in Q4 2025, affrontando questioni critiche di stabilità e resilienza della rete.
Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) y la Nación Malahat han llevado a cabo una ceremonia inaugural para la primera gigafábrica dirigida por indígenas en Canadá en Mill Bay, Columbia Británica. La instalación, que opera bajo Malahat Battery Technologies Partnership, tiene como objetivo producir 1 gigavatio-hora de sistemas de almacenamiento de baterías anualmente para varios mercados en América del Norte.
La instalación de 56,000 pies cuadrados, con un costo estimado de 75 millones de dólares, es una asociación en la que la Nación Malahat posee el 51% y Energy Plug el 49%. El proyecto cuenta con el apoyo de Siemens Canadá, Johnson Controls Canadá, Wales McLelland Construction y Enwind Power Co. Se prevé que la gigafábrica esté completa en Q4 2025, abordando cuestiones críticas de estabilidad y resiliencia de la red.
Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF)와 Malahat Nation은 브리티시컬럼비아주 밀 베이에서 캐나다 최초의 원주민 주도 기가 공장을 위한 기공식을 개최했습니다. 이 시설은 Malahat Battery Technologies Partnership에 따라 운영되며, 북아메리카 전역의 다양한 시장을 위해 매년 1기가와트시 배터리 저장 시스템을 생산하는 것을 목표로 하고 있습니다.
56,000제곱피트의 이 시설은 7500만 달러의 비용이 예상되며, Malahat Nation이 51%, Energy Plug가 49%의 지분을 보유한 파트너십입니다. 이 프로젝트는 Siemens Canada, Johnson Controls Canada, Wales McLelland Construction, Enwind Power Co의 지원을 받고 있습니다. 기가 공장은 2025년 4분기에 완료될 예정이며, 네트워크의 안정성과 회복력을 해결하는 데 중요한 역할을 할 것입니다.
Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) et la Nation Malahat ont tenu une cérémonie de pose de la première pierre pour la première gigafactory dirigée par des Autochtones au Canada à Mill Bay, en Colombie-Britannique. L'installation, qui fonctionne sous la Malahat Battery Technologies Partnership, vise à produire 1 gigawattheure de systèmes de stockage de batteries par an pour divers marchés à travers l'Amérique du Nord.
La structure de 56 000 pieds carrés, dont le coût est estimé à 75 millions de dollars, est une collaboration dont 51 % est détenu par la Nation Malahat et 49 % par Energy Plug. Le projet bénéficie du soutien de Siemens Canada, Johnson Controls Canada, Wales McLelland Construction et Enwind Power Co. La gigafactory devrait être achevée au 4e trimestre 2025, répondant à des enjeux cruciaux de stabilité et de résilience du réseau.
Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) und die Malahat Nation haben eine Grundsteinlegung für die erste indigene Gigafabrik Kanadas in Mill Bay, British Columbia, gefeiert. Die Einrichtung, die unter Malahat Battery Technologies Partnership betrieben wird, hat das Ziel, jährlich 1 Gigawattstunde Batteriespeichersysteme für verschiedene Märkte in Nordamerika zu produzieren.
Die 56.000 Quadratfuß große Einrichtung, deren Kosten auf 75 Millionen Dollar geschätzt werden, ist eine Partnerschaft, an der die Malahat Nation 51% und Energy Plug 49% hält. Unterstützt wird das Projekt von Siemens Kanada, Johnson Controls Kanada, Wales McLelland Construction und Enwind Power Co. Die Gigafabrik soll im 4. Quartal 2025 fertiggestellt werden und wichtige Fragen zur Stabilität und Resilienz des Stromnetzes angehen.
- Partnership with Malahat Nation for Canada's first Indigenous-led gigafactory
- Targeted annual production capacity of 1 gigawatt-hour of battery storage systems
- Diversified market reach including residential, commercial, utility, and data centre sectors
- Support from established companies like Siemens Canada and Johnson Controls Canada
- Addressing critical issues of grid stability and resilience
- High project cost of $75 million
- Completion not expected until Q4 2025, potentially delaying revenue generation
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2024) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug" or the "Company"), an energy technology innovator in energy storage and delivery, and the Malahat Nation are pleased to announce that the official groundbreaking and ground blessing ceremony for Canada's first Indigenous-led gigafactory was held today at the Malahat Business Park in Mill Bay, British Columbia.
With a targeted battery production output of 1 gigawatt-hour per year, the facility will manufacture energy battery storage systems ("BESS") for residential, commercial, utility, and data centre markets across North America. The gigafactory will operate under Malahat Battery Technologies Limited Partnership, a partnership
The total project cost is expected to be
The gigafactory construction, energy management, electrical products and battery products will be supported by Siemens Canada, Johnson Controls Canada, Wales McLelland Construction, and Taiwan-based Enwind Power Co Ltd. It is expected that the gigafactory will be completed in the fourth quarter of 2025.
"We are honored to be working with the Malahat Nation, who have helped make history by being Canada's first Indigenous group to lead a gigafactory," said Broderick Gunning, CEO of Energy Plug. "We are also strengthened by the collaboration and support of Siemens Canada and Johnson Controls Canada, global brands with expertise and experience in building and operating large factories, as well as implementing energy storage and management systems."
Enwind Power Quote: "This is an important advance in bringing battery storage systems to North America. We are proud to be working with Energy Plug and the Malahat Nation on Canada's first Indigenous-led gigafactory."
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.
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 Company's market focus, projected size of the facility, expected project cost, expected annual production size of battery systems, the expected completion data of the facility and support from various groups.
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. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The risk factors related to the forward-looking information include but not limited to the ability to obtain financing, ability to obtain permits; ability to procure the plant and equipment, ability to build the battery assembly facility, ability to hire staff, ability to secure suppliers of batteries and obtaining batteries at desired prices, supply chain disruptions, technological obsolescence, 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 U.S 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 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, timing of regulatory and governmental approvals, permits and authorizations required to execute the Company's planned business objectives, 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.
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 risky.
Contact Information
Energy Plug Technologies Corp.
Broderick Gunning
President & 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221361
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