Vancouver, British Columbia--(Newsfile Corp. - November 26, 2024) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug" or the "Company") is pleased to announce its Energy-as-a-Service (EaaS) model, an integrated advanced battery storage system, blockchain technology, and cryptocurrency ecosystem. This transformative approach delivers energy reliability, cost efficiency, and financial optimization, marking the Company's new development in decentralized energy solutions.
Energy Plug's EaaS model combines energy savings, blackout/brownout protection, and a cryptocurrency-driven treasury system to create a seamless, scalable, and transparent energy platform. This innovation can help customers to benefit from a reliable power supply while unlocking new monetization opportunities for commercial, industrial and residential customers through blockchain-enabled efficiency.
Energy Plug's ground-mounted battery systems are designed to store surplus energy from renewable and non-renewable sources, enabling its use during peak demand periods and can reduce reliance on traditional power grids and lowers energy costs for users. Complementing this is the Company's Energy Management System (EMS), which can balance supply and demand in real-time, optimizing energy distribution and enhancing overall efficiency. Additionally, Energy Plug's battery systems can provide critical outage resilience ensuring uninterrupted power for commercial and industrial clients during blackouts and brownouts, thereby minimizing costly operational disruptions.
The EaaS model offers subscription-based pricing, making energy solutions affordable by reducing upfront capital costs. Backed by Service Level Agreements (SLAs) with performance metrics, customers gain a consistent, high-quality energy service tailored to their needs.
Energy Plug's integration of cryptocurrency is poised to redefine energy finance by introducing efficiency, flexibility, and transparency. Fast transactions enable near-instantaneous settlements, reducing friction in energy trading and management. Furthermore, blockchain-based treasury systems may be able to ensure traceable and transparent financial operations, ensuring trust and accountability for all stakeholders.
Brodie Gunning, President and CEO of Energy Plug Technologies Corp., highlighted the model's impact, "Our EaaS model embodies the future of energy innovation, combining cutting-edge technology with financial empowerment. By integrating blockchain and cryptocurrency, we are creating a platform that can democratize energy access, drive sustainability, and deliver value to our customers."
Energy Plug is dedicated to promoting decentralized, sustainable energy solutions. By leveraging blockchain technology and renewable energy systems, the Company seeks to empower communities to achieve energy resilience while contributing to a greener 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
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
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 benefits of the Energy-as-a-Service (EaaS) model, EaaS application to the blockchain technology, addressing critical global challenges in energy accessibility and efficiency, future sales, financing, development and construction of the Malahat Battery Plant and other large scale energy projects, production and sale of cutting-edge battery systems to AI and blockchain companies, utilities and other customers.
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 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 risky.
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SOURCE: Energy Plug Technologies Corp.
