Bitech Technologies Appoints Montgomery Bannerman to Board of Directors
Rhea-AI Summary
Bitech Technologies [OTCQB: BTTC] has appointed Montgomery ('Monty') Bannerman as an independent director to its Board of Directors, effective November 1, 2024. Bannerman, a veteran with over 30 years of experience in renewable energy and telecommunications, will serve on the Audit, Compensation, and Corporate Governance Committees. His appointment increases the board to six members, with three independent directors, supporting the company's plan to uplist to a national exchange. Bannerman is currently CEO of Denrgy and brings extensive experience in distributed renewable energy networks and strategic market penetrations. The appointment aligns with Bitech's expansion of its Battery Energy Storage System (BESS) business.
Positive
- Board strengthened with addition of experienced renewable energy executive
- Increased independent director ratio supports potential uplisting to national exchange
- Strategic addition to support BESS business expansion
Negative
- None.
Newport Beach, CA, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Bitech Technologies Corporation [OTCQB: BTTC], (“the Company” or “Bitech”), an independent power provider developing utility-scale battery energy storage initiatives and innovative renewable solutions, today announced the appointment of Montgomery (“Monty”) Bannerman, a seasoned renewable energy, communications networks and technology executive, to its Board of Directors as an independent director, effective November 1, 2024.
Mr. Bannerman will also serve as a member of the Audit, Compensation, and Corporate Governance Committees of the Board. Mr. Bannerman’s appointment as an independent director increases the total number of board members to six, with three independent directors, in preparation to uplist to a national stock exchange.
Monty Bannerman has over 30 years of experience as a veteran, execution-driven leader in strategic planning, start-up, restructuring and M&A of private and public companies in the energy and telecommunications sectors. Throughout his career Monty has been deeply involved in the development, market introduction and operation of advanced distributed technologies, systems and networks in emerging and deregulating markets worldwide. He has a broad background in strategic market penetrations and deployments of large-scale resilient systems, facilities and networks in deregulating markets, domestically and internationally. Bannerman is the Founder and CEO of Denrgy, which designs develops, finances and operates distributed renewable energy networks which overlay and integrate into existing legacy power infrastructure to make it more resilient and reliable, reduce emissions and deliver long term energy cost control. He is also the Founder, former CEO and Board Member of MicroGrid Networks; Founder, Director and former CEO of ArcStar Energy; and Former CEO, President and Board Member of Verso Technologies; and Former Senior Vice President and Chief Technology Officer of Terremark Worldwide.
“Monty brings deep and valuable business and strategy and renewable energy industry experience with a strong track record of driving revenue and profitable growth, and we welcome him to the Board,” said Benjamin Tran, Chairman and CEO of Bitech Technologies. “He joins us at an opportune time with his firsthand knowledge of the energy sector and advanced distributed technologies, systems and networks, as well as leading global brands through growth and diversification. His expertise will be invaluable as we expand our Battery Energy Storage System (“BESS”) business and service offering, work to build strategic partnerships, and seek out and acquire complementary proven technologies.”
Bannerman added, “This is an exciting time to join Bitech as it moves into 2025 with strategic growth initiatives, a strong pipeline of projects, and new opportunities for its BESS ecosystem. With the rapid growth in electrification and AI data centers causing major spikes in the efficiency of battery electrification, and the inconsistency of renewable energy generation, Bitech’s advanced energy solutions are well positioned for growth. I look forward to providing my experience in the renewable energy industry in the months and years to come.”
About Bitech Technologies Corporation
Bitech Technologies Corporation (OTCQB: BTTC), is an independent power provider with a core business in developing and operating Battery Energy Storage Systems (BESS) to enhance grid stability and produce consistent revenues. We also offer technological innovations with smart energy solutions including microgrids, advanced Energy Management System (EMS) for homes, buildings, campuses, cities, and renewable infrastructure. For more information, please visit www.bitech.tech.
Cautionary Note Regarding Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filing with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s filings with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Bitech Technologies Corporation
Tel: 1.855.777.0888
Email: info@bitech.tech
External Investor Relations:
Chris Tyson, Executive Vice President & Partner
MZ Group - MZ North America
949-491-8235
BTTC@mzgroup.us
www.mzgroup.us
FAQ
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