ENERGY PLUG TECH CORP - PLGGF STOCK NEWS

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.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has closed the first tranche of its non-brokered private placement, raising $266,000 by issuing 5,320,000 common shares at $0.05 per share. The company paid $18,880 in finder's fees and issued 377,600 brokers' warrants exercisable at $0.125 for one year. Proceeds will be used for general corporate matters. All securities issued are subject to a four-month hold period. This private placement follows the company's previous announcement on July 31, 2024.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) has expanded its advisory board with three key appointments to support its growth plans in Canada, the US, and internationally. The new advisors are:

1. Jack Lee: Specializing in certifications and safety, with 15 years of experience at Underwriters Laboratories (UL).

2. Miro Cernetig: Expert in journalism, media relations, and global brand expansion.

3. Roman Fontes: Advisor for the US market with 20 years of experience in energy and infrastructure project development and finance.

These strategic additions aim to enhance Energy Plug's capabilities in safety standards, brand expansion, and market penetration, particularly in North America and Taiwan.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has announced a non-brokered private placement of up to 20,000,000 common shares at $0.05 per share, aiming to raise up to $1,000,000 for general working capital. The company will pay 8% cash and 8% broker's warrants as finders' fees, subject to regulatory approvals. Securities issued will have a four-month plus one-day hold period.

Additionally, Energy Plug has granted 1,725,000 stock options to directors, officers, and consultants. Of these, 1,200,000 will vest immediately, while the remainder will vest quarterly over three years. The options have a strike price of $0.055 and a 36-month term.