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Energy Plug Technologies Corp. (PLGGF) is at the forefront of revolutionizing energy infrastructure through cutting-edge battery storage solutions. With a focus on Lithium Iron Phosphate Battery packs, the company caters to residential, commercial, and industrial storage needs, aiming to enhance safety, grid resiliency, and return on investment. By leveraging strategic partnerships with local Indigenous communities and a vertically integrated supply chain involving industry-leading companies in Taiwan, Energy Plug is dedicated to providing advanced and sustainable energy solutions.
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.
Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF, FSE: 6GQ) has announced a Memorandum of Understanding (MOU) with GUS Technology Co to supply Lithium Titanium Oxide (LTO) battery cells across Canada, North America, and Latin America. This collaboration, which includes Malahat Battery Technologies Corp., aims to introduce LTO chemistry to early adopter customers and enhance industrial, military, and marine energy mobility and storage markets with advanced LTO technology.
The MOU represents a strategic move by Energy Plug to expand its presence in the energy storage sector and potentially capture new market opportunities in various industries. By partnering with a Taiwanese LTO cell manufacturer, the company is positioning itself to meet the growing demand for high-performance battery solutions in key regions.
Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has entered into a Memorandum of Understanding (MOU) with Power Touch Corp., a Taiwan-based company specializing in Asus' AI and Internet Data Centre (IDC) hardware. The MOU aims to provide battery energy storage for Power Touch's IDCs in Canada, focusing on AI, heavy compute, and crypto mining operations.
Key points:
- Energy Plug will allocate or sell power from its battery storage programs to Power Touch's IDCs.
- The collaboration addresses the growing electricity demand from data centers, expected to consume 13% of global electricity by 2030.
- The partnership aims to enable sustainable data centre infrastructure solutions and explore opportunities in the USA, Latin America, India, and the Middle East.
Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has provided a corporate update highlighting key activities and near-term objectives. The company has:
1. Signed its first battery storage deal with Ximen Mining Corp.
2. Formed a partnership with Malahat Nation for a Gigafactory
3. Signed an MOU with Siemens Canada
4. Entered into MOUs with Power Touch Corp., Anasis Tech , METAENERGY TECHNOLOGY CO , and Enwind Power Co
5. Focused on targeting utilities, commercial and industrial companies, data centers, and AI applications
6. Submitted grant applications with Malahat Nation
7. Addressed regulatory concerns with BCSC
8. Strengthened its team with notable additions
The company aims to complete its first BESS installation by September 2024 and begin Gigafactory construction in Q4 2024.
Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF, FSE: 6GQ) announced the resignation of Jan Urata as Corporate Secretary, effective June 26, 2024. The company expressed gratitude for Urata's contributions. Connie Hang, the current CFO, will assume the role of Corporate Secretary in addition to her responsibilities as CFO.
Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) has released an amended and restated Management's Discussion and Analysis (MD&A) for the three months ending September 30, 2023. This updated MD&A clarifies the company's business overview and details the acquisition of True North Battery Storage Corp. It also provides anticipated production figures and projections for a proposed joint venture with the Malahat First Nation. The amendment comes after a review by the British Columbia Securities Commission, aimed to enhance disclosure and transparency in the company's reporting.
Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has signed its first battery contract with Ximen Mining Corp. (TSXV: XIM) to install a 20kWh Battery Energy Storage System (BESS) at the Kenville Gold Mine in Nelson, BC. This contract is part of a larger two-phase clean electricity generation program, which aims to leverage renewable energy sources such as solar and hydropower. Phase one involves the installation of the 20kWh BESS, helping Ximen reduce diesel consumption and improve energy reliability. Phase two will see the installation of a 100kWh BESS. The project aims to support Ximen's net-zero targets, generate $25,000 per 20kWh unit for Energy Plug, and enhance the mine's energy efficiency and infrastructure.
Energy Plug Technologies announced the successful conclusion of its early warrant exercise program, initially launched on May 7, 2024. The program targeted 15,900,000 share purchase warrants issued during a private placement on May 16, 2023. Holders of these warrants received one-half of an additional common share purchase warrant for each exercised warrant. With a total of 2,900,000 warrants exercised, the company raised $217,500 in gross proceeds and issued 2,900,000 common shares and 1,450,000 new purchase warrants. These new warrants allow holders to buy shares at $0.075 each until May 16, 2025. Proceeds will be used for working capital. Additionally, the new warrants are subject to a four-month hold period under Canadian law.
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