Pacific Green Technologies Inc Stock Price, News & Analysis

Pacific Green Technologies (PGTK) has entered into an agreement with Green Power Reserves Limited (GPR), securing a £13 million (US$16 million) equity investment for a 50% stake in Pacific Green Battery Energy Parks 1 Limited. The funds will finance the construction of a 99.98 MW battery energy storage system in Kent, England. GPR's Managing Director, Paolo Revelli, will join PGBEP's Board, enhancing project development. PGTK anticipates upcoming milestones in its 1.1 GW UK pipeline, with a grid connection expected by mid-2023.

Pacific Green Technologies Inc. (PGTK) has appointed wind propulsion expert George Thompson as a lead consultant, aiming to enter the growing wind propulsion market for marine applications. This appointment follows extensive research into hybrid power and aligns with the company’s strategy to help ship owners achieve fuel savings while meeting IMO carbon reduction targets. Pacific Green plans to leverage its existing relationships with over 500 ships and its manufacturing capacity with PowerChina to establish a competitive edge in the market.

Pacific Green Technologies (PGTK) announced its intent to acquire Sheaf Energy Limited (SEL), a 249 MW battery energy storage system (BESS) in the UK, from Tupa Energy Limited. This acquisition builds on a previous agreement involving a 99.8 MW BESS acquired earlier this year, as part of a larger 1,100 MW BESS Agreement initiated in March 2021. The SEL project aims to support the growing energy storage market, leveraging the technical expertise of parent companies and a strong production capacity from Shanghai Electric Gotion.

Pacific Green Technologies (PGTK) has signed a letter of offer with Close Leasing Limited for £23 million (approximately US$31.6 million) in debt financing to construct a 99.8 MW battery energy storage system at Richborough Energy Park in Kent, England. The financing is subject to final due diligence and is expected to close in Q4 2021, with energization planned for 2022. CEO Scott Poulter expressed pride in the partnership, citing Close Brothers' flexibility and experience in renewable energy projects.

Pacific Green Technologies (PGTK) announces an exclusive agreement with TUPA Energy Limited to develop up to 1,100MW of battery energy storage systems in the UK. The company has acquired the rights to 100MW of BESS in Kent and aims to finalize the remaining 1,000MW by 2023. This agreement follows PGTK's acquisition of Innoergy Limited and a partnership with Shanghai Electric Gotion. The collaboration with TUPA enhances PGTK's capacity in the energy storage market, positioning it for significant growth in the Cleantech sector.

Pacific Green Technologies (PGTK) has appointed Jose Lobo as Vice President of Business Development for Latin America, effective February 1, 2021. Lobo has over 20 years of experience in developing green energy projects, notably in wind, solar, and hydropower. He previously held leadership roles at Tambo3 Consultants and SolarReserve, developing over one gigawatt of concentrated solar power projects in the region. This strategic appointment aims to leverage his expertise to enhance PGTK's growth in the rapidly expanding Latin American renewable energy market.

Pacific Green Technologies (PGTK) announced the appointment of Peter Rossbach as a Non-Executive and Independent Director, effective February 1, 2021. Rossbach brings over 35 years of experience in the renewable energy sector, having worked with renowned firms like Standard & Poor, Mitsui Bank, and UGE International. His expertise is expected to enhance PGTK's strategic direction in renewable technologies. CEO Scott Poulter highlighted Rossbach's international experience as critical to the company's growth and development into a leading renewable technology group.

Pacific Green Technologies (OTCQB: PGTK) has announced a Joint-Venture Agreement with Amr Khashoggi Trading Company to establish a company in Saudi Arabia. This collaboration aims to promote the sale of Pacific Green's environmental technologies, aligning with Saudi Arabia's Vision 2030 initiative, which targets 9.5 GW of renewable energy by 2030. The partnership leverages Amkest Group's extensive local market experience and relationships, focusing on solar power, desalination, and battery energy storage systems. Both companies anticipate significant growth in the region's demand for sustainable energy solutions.

Pacific Green Technologies (PGTK) announced the successful installation of its 100th ENVI-Marine exhaust gas cleaning system, marking a significant milestone for the company. The systems have been installed on over 40 ship types, primarily in China through its joint venture with PowerChina SPEM. Despite challenges in 2020 due to oil prices and COVID-19, there has been a notable increase in inquiries for their technology. The company is expanding its portfolio, including Concentrated Solar Power and Water Desalination, and is focused on sustainable energy solutions.