Costa Mesa, CA, June 22, 2022 (GLOBE NEWSWIRE) — Bitech Applied sciences Company (previously, Backbone Harm Options, Inc) [OTCQB: SPIN] (the “Firm”), a worldwide know-how resolution supplier devoted to offering a collection of inexperienced power options with a spotlight in cryptocurrency mining, knowledge facilities and different renewable power initiatives at present pronounces the Firm has signed a Letter of Intent to enter right into a bilateral non-exclusive gross sales distribution partnership with Paladin Energy, Inc. (“Paladin Energy”).
The Letter of Intent outlines our plans to determine a enterprise partnership with a purpose to convey Tesdison know-how to marketplace for residential and business makes use of whereas exploring the potential utility of Paladin Energy’s Stackbatt™ battery line of merchandise at the side of Tesdison know-how and any of the Firm’s next-generation applied sciences and/or merchandise.
As well as, the Letter of Intent might lead to a attainable creation of a future contractual value-added reseller (VAR) relationship between Paladin Energy and the Firm. The first parts of this gross sales collaboration are anticipated to incorporate the next:
- Discover market alternative to have a chargeable battery system for non-solar prospects utilizing the Firm’s licensed and patented Tesdison know-how.
- Work on co-developing new alternatives in business and residential utility markets the place the Firm’s options can be utilized in a quick rising residential market captured by Paladin Energy.
- Take a look at utilizing Paladin Energy’s Stackbatt™ battery and inverter know-how with the Firm’s Tesdison engineering system.
We imagine the Letter of Intent signifies the start of a gross sales relationship between the 2 know-how firms who plan to hitch forces to maximise the potential utilization of one another’s applied sciences and options in a number of business sectors together with cryptocurrency mining in addition to the business and residential utility functions.
“Paladin Energy is planning to discover the applying of the Tesdison know-how beneath the steering of Bitech Applied sciences so as to introduce this technologically superior resolution to our current buyer base. We imagine Bitech gives a singular enterprise proposition we’re searching for in a win-win relationship”, commented Ted Thomas, CEO of Paladin Energy.
In line with Priority Analysis report issued on April 20, 20221, the worldwide renewable power market measurement is anticipated to value round USD 1.998 trillion by 2030 and rising at a CAGR of 8.6% from 2022 to 2030. The rising authorities and company investments in direction of the adoption and deployment of the renewable power sources within the industrial and business sectors is driving the expansion of the renewable power market. With the rising investments within the industrialization and urbanization, the demand for the sustainable power is rising considerably throughout the globe.
A research from Allied Market Analysis revealed in January 2021 indicated that the worldwide good power market measurement was valued at USD 124.0 billion in 2019, and is projected to succeed in USD 253.1 billion by 2027, rising at a CAGR of 9.6% from 2020 to 2027. Good power is an economical, sustainable, and safe power system, which focuses on sustainable power manufacturing whereas decreasing the manufacturing price2.
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2 See: https://www.alliedmarketresearch.com/smart-energy-market-A09434
“We’re excited to work with Paladin Energy to discover the chance to convey Tesdison know-how to the residential utility area whereas collaborating with Paladin’s technical group to contemplate innovating a brand new resolution to maximise the off-grid power markets utilizing Stackbatt and Tesdison know-how mixed resolution, aiming to supply enhanced energy effectivity for each dwelling in America”, said Dr. Benjamin Tran, Bitech Applied sciences CEO.
About Bitech Applied sciences Corporation
Bitech Applied sciences Company (OTCQB: SPIN), previously often called Backbone Harm Options, Inc., is a worldwide know-how resolution supplier devoted to offering a collection of inexperienced power options with a give attention to cryptocurrency mining, knowledge facilities, business and residential utility, electrical car, and different renewable power initiatives. Bitech seeks to supply its Evirontek Built-in Platform to resolve the exorbitantly excessive price of electrical energy in crypto mining and associated industries. Its core know-how is Tesdison, a revolutionary U.S. patented self-charging dual-battery system know-how offering elevated effectivity in energy technology. Bitech seeks enterprise partnerships with renewable power suppliers for varied functions and engages with value-added resellers to facilitate and implement our scalable and modular system resolution. For extra data, please go to www.bitech.tech.
About Paladin Energy, Inc.
Paladin Energy, Inc. is a know-how firm that has developed a brand new all-in-one power storage resolution that contains a stackable, scalable battery and stackable transformerless inverter that may energy your total dwelling. The brand new Stackbatt™ bussing methods get rid of heavy, expensive and harmful wires with a brand new modern approach of connecting batteries by inserting them and clicking into place for including extra power capability. This resolution allows the battery compartment to realize three to 4 instances extra power in the identical footprint, whereas significantly enhancing the round-trip effectivity of the battery to and from the inverter. Equally superior and novel is the stackable, scalable inverters that merely slide-in, taking solely seconds to put in as much as 21 KW of inverter energy, from what used to take three folks, a number of days to put in comparable inverter capability utilizing the older conventional inverters which are nonetheless in widespread use at present. Paladin Energy is situated in California and wishes to fabricate this new know-how, together with the battery in California for the nationwide and world markets. For added details about Paladin Energy, go to its web site at www.paladinpower.com.
Cautionary Observe Relating to Ahead-Trying Statements
This information launch comprises statements that contain expectations, plans or intentions (comparable to these regarding 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 might fluctuate materially. You’ll be able to establish these forward-looking statements by phrases comparable to “might,” “ought to,” “anticipate,” “anticipate,” “imagine,” “estimate,” “intend,” “plan” and different comparable expressions. Our precise outcomes may differ materially from these anticipated in these forward-looking statements because of sure components not inside the management of the Firm. The Firm cautions readers to not place undue reliance on any such forward-looking statements, which converse 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 prevalence of anticipated or unanticipated occasions.
Contact:
Bitech Applied sciences Company
Investor Relations
Tel: 1.855.777.0888
Electronic mail: info@bitech.tech
