Costa Mesa, CA, Might 16, 2022 (GLOBE NEWSWIRE) — Bitech Applied sciences Company (previously, Backbone Damage Options, Inc) [OTCQB: SPIN] (the “Firm”), a world know-how resolution supplier devoted to offering a collection of inexperienced vitality options with a spotlight in cryptocurrency mining and knowledge facilities right this moment declares a shareholder replace after submitting our Quarterly Report (Type 10-Q) with the U.S. Securities and Change Fee.
On Might 6, the Firm filed its quarterly report for the interval ended March 31, 2022 the place it confirmed a big enchancment in its present property, shareholder’s fairness and money circulation. This report may be seen at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1066764/000149315222012341/form10-q.htm
In accordance with the College of Cambridge Heart for Different Finance, the US has turn into the second largest bitcoin mining hub the place its bitcoin manufacturing has grown from simply 4% two years in the past to a shocking 17% of all new bitcoins after China having banned bitcoin manufacturing attributable to its vitality disaster attributable to large bitcoin manufacturing. As bitcoin manufacturing continues with extra shortage over time till 2040, our core enterprise technique is to offer a brilliant cost-saving resolution to all bitcoin miners within the U.S. and overseas by way of the commercialization of our business disruptive Tesdison know-how which offers off-grid sustainable vitality manufacturing, implementable at any scale.
The Firm’s Board of Administrators has accredited a product commercialization plan with particular milestones to commercialize its Tesdison know-how with a major focus in cryptocurrency mining and knowledge facilities. The Tesdison commercialization plan contains engineering pattern growth for large-scale crypto miners beginning with our Alpha manufacturing of 100KW Tesdison methods to be produced by a U.S.-based electrical system engineering producer, adopted by the deployment of those Alpha models on the take a look at websites of our preliminary potential clients. We plan to comply with our Alpha unit manufacturing with the Beta unit manufacturing after the incorporation of further studying and system replace for ultimate Beta testing at our buyer websites. The Firm plans to interact with a specific international producer which makes a speciality of energy era to make sure highest high quality mass manufacturing of our future Tesdison methods.
In accordance with the February 2022 report from Markets and Markets1, “the worldwide battery vitality storage system market measurement is anticipated to develop from $4.4 billion in 2022 to $15.1 billion by 2027, at a CAGR of 27.9%”. The U.S. battery vitality storage market was set to develop from 1.2GW in 2020 to just about 7.5GW in 2025, pushed primarily by large-scale utility procurements. Photo voltaic-paired storage will account for a big majority of those installations, and doubtlessly the overwhelming majority, as builders intention to seize worth from the U.S. Funding Tax Credit score and Carbon Credit score.
To reply to this growing demand whereas increasing our potential income choices, the Firm additionally plans to penetrate into the solar energy plant market and associate with or purchase outdated, mid-field solar energy vegetation within the U.S., particularly in California and Texas, and implement state-of-the-art Battery Power Storage Programs (BESS) to extend vitality effectivity and monetize time peak shifting implementation with focused clients starting from 20MW to 500MW energy capability. Our deliberate containerized BESS options are anticipated to offer a excessive stage of user-friendly and seamless integration, clever monitoring capacity with multimode authorization for dynamic connection, final security options, and versatile utility by way of modular design, whereas enhancing robustness for interference from exterior components within the discipline.
“As now we have an instantaneous plan to execute this new revenue-sharing technique, Bitech Applied sciences is aiming to begin negotiating with present and inefficient solar energy plant operators in California and Texas first so as to add on our deliberate low-cost BESS options in an effort to re-optimize the facility capability and stability the grid with clever time peak shifting management. We count on that our deliberate excessive environment friendly energy saving implementation might be a win-win resolution for all events concerned”, acknowledged Dr. Benjamin Tran, Bitech Applied sciences CEO.
The Firm can also be wanting into a number of new tasks with EPC (Engineering, Procurement and Building) companions in California, Arizona and Texas for the business and residential storage installations the place we may be each know-how and monetary companions who can even present challenge financing for chosen tasks.
We consider that the transfer to a lower-emission future requires a number of options with superior applied sciences. As such, the Firm additionally plans to allocate analysis and growth funding within the third quarter of 2022 to additional improve our mental property portfolio with further utility exterior of cryptocurrency mining together with, however not restricted to, residential, electrical autos (EV) and EV charging grid purposes.
Because the Firm actively pursues a brand new buyer base, additionally it is trying to establish further high-qualified impartial board members and enterprise growth executives in our discipline to significantly improve our administration staff, working towards constructing a world-class enterprise within the inexperienced vitality sector with an executable international enlargement plan specializing in cryptocurrency mining, knowledge facilities and renewable vitality initiatives.
As our identify change to Bitech Applied sciences Company has been effectuated earlier this month, the Firm is within the strategy of finishing its official identify change and ticker change process with The Monetary Business Regulatory Authority, Inc. (FINRA) to be mirrored within the OTC Markets within the close to future.
About Bitech Applied sciences Company
Bitech Applied sciences Company (OTCQB: SPIN), previously referred to as Backbone Damage Options, Inc., is a world know-how resolution supplier devoted to offering a collection of inexperienced vitality options with a concentrate on cryptocurrency mining and knowledge facilities. Aiming to resolve the exorbitant excessive value of electrical energy in cryptocurrency mining, Bitech plans to supply its Evirontek built-in platform together with its core know-how Tesdison, a revolutionary U.S. patented self-charging dual-battery system know-how offering excessive effectivity in energy era. Bitech seeks enterprise partnerships with international crypto miners in bitcoin and Ethereum in addition to knowledge facilities and energy plant operators whereas participating with value-added resellers to facilitate and implement a scalable and modular system resolution. Our enterprise mannequin contains revenue-sharing and royalty by way of know-how licensing to realize carbon credit by way of scalable Tesdison know-how for a lot of prolonged purposes. For extra data, please go to www.bitech.tech.
Cautionary Notice Relating to Ahead-Wanting Statements
This information launch accommodates statements that contain expectations, plans or intentions (resembling these referring to future enterprise or monetary outcomes) and different components mentioned once in a while within the Firm’s Securities and Change Fee filings. These statements are forward-looking and are topic to dangers and uncertainties, so precise outcomes could fluctuate materially. You possibly can establish these forward-looking statements by phrases resembling “could,” “ought to,” “count on,” “anticipate,” “consider,” “estimate,” “intend,” “plan” and different comparable expressions. Our precise outcomes may differ materially from these anticipated in these forward-looking statements on account of sure components not throughout the management of the Firm. The Firm cautions readers to not place undue reliance on any such forward-looking statements, which communicate solely as of the date made. The corporate disclaims any obligation subsequently to revise any forward-looking statements to replicate occasions or circumstances after the date of such statements or to replicate the incidence of anticipated or unanticipated occasions.
Contact:
Bitech Applied sciences Company
Investor Relations
Tel: 1.855.777.0888
Electronic mail: info@bitech.tech
1 See: https://www.marketsandmarkets.com/Market-Reports/battery-energy-storage-system-market-112809494.html
