Energy Plug Technologies Corp. - Q2 2025 Corporate Update
Rhea-AI Summary
Energy Plug Technologies Corp. (OTCQB: PLGGF) provided a comprehensive Q2 2025 corporate update highlighting significant operational progress. The company, in partnership with Malahat Battery Technologies, is focusing on Canadian-designed secure energy systems. Key developments include a strategic partnership with SEETEL New Energy for non-China supply chain solutions, pending UL certification for a 5MWh containerized battery storage solution expected in September 2025, and executive team expansion with new CTO and CFO appointments.
The company is involved in multiple multimillion-dollar projects with 3GA Marine Ltd. and BC Hydro for port electrification. Energy Plug has also strengthened its position through Canadian technology partnerships, advanced R&D collaborations with Quantum eMotion Corp and Hillcrest Energy Technologies, and improved its financial position from negative to positive working capital since December 2024.
Positive
- Strategic partnership with SEETEL New Energy for non-China supply chain solutions
- UL Certification for 5MWh battery storage solution expected in September 2025
- Transition from negative to positive working capital position
- Participation in multiple multimillion-dollar port electrification projects
- Executive team strengthening with new CTO, CFO appointments
- International expansion through agreement with GG Ventures of the Carolinas
Negative
- Termination of Enwind Power Co Ltd. agreement
- Revenue inflection point still pending for second half of the year
- UL Certification still pending, potentially affecting commercial deployment timeline
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2025) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug", "PLUG", or the "Company"), in partnership with Indigenous-owned Malahat Battery Technologies, continues its focus on delivering Canadian-designed, secure energy systems. With 2025 marking a pivotal year, the Company is targeting domestic and export markets with systems primarily built from Canadian components.
Management Commentary:
"In Q1 2025, we made significant progress across technology innovation, commercial expansion, and strategic partnerships," said Paul Dickson, CEO of Energy Plug. "Our expansion into defence, telco sector, and cybersecurity-related energy infrastructure has energized our momentum. Our partnership with Malahat Nation has developed into a stronger venture that has allowed both companies to enter new sectors, government and nongovernment. The reaction from customers and partners reinforces our conviction that PLUG is on the cusp of a meaningful revenue inflection in the second half of the year."
Notable Business Highlights:
- Strategic International Partnership:
Formed a key partnership with SEETEL New Energy Co., Ltd. (TW: 7740) to develop battery storage solutions using a non-China supply chain reinforcing secure and geopolitically stable energy delivery systems.
- Market Readiness:
UL Certification is underway for 5MWh containerised battery storage solution for both the Canadian and U.S. markets and is expected in September 2025, marking a significant milestone toward commercial deployment.
- Executive Team Expansion:
Appointed a new CTO, CFO, controller, and technical staff, strengthening the Company's leadership and technical capabilities.
- Financial Progress:
Transitioned from a negative working capital in December 2024 to a positive financial position in 2025, with a notable reduction in Accounts Payable.
- Major Project Development:
Participating in four proposed multimillion-dollar projects with 3GA Marine Ltd. and three with BC Hydro, focused on power barges for electrifying the ports of Vancouver, Victoria, and Gibsons to Vancouver Greenline Ferries.
The Enwind Power Co Ltd. agreement has been terminated as client demand is for a secure Canadian-based solution, which Energy Plug has pivoted to with its technology partner companies through Malahat Battery Technologies.
Government Engagement:
The Company has held meetings with provincial ministers in Ontario in May 2025 and British Columbia in June 2025 to explore expansion opportunities, including new manufacturing operations for Secure Energy Systems targeting utilities, residential, and defence sectors.
- International expansion with agreement with GG Ventures of the Carolinas, LLC in the USA as released on July 10, 2025.
- Defence Industry Collaboration:
Company representatives attended CanSec 2025 in Ottawa, a Canadian defence, security and emerging technology event, initiating R&D engagements with an international defence contractor.
- Canadian Technology Partnerships:
Signed agreements with several Canadian technology firms to co-develop Secure Energy Projects across diverse sectors.
- Advanced R&D Collaborations:
Continued work with Quantum eMotion Corp ("QNC.V") on proprietary quantum-based security IP solutions, and new partnerships with Hillcrest Energy Technologies Ltd. ("HEAT.C"), (innovative inverter technology) to provide inverter solutions utilizing its proprietary Zero Voltage Switching ("ZVS") technology in aerospace and military applications for customers identified and secured by Energy Plug and Northwest Mettech Corp. (advanced thermal spray coatings) to develop lighter, more resilient coatings suitable for Arctic, marine, utility, and defence applications.
Energy Plug continues to advance its mission of delivering secure, sovereign energy systems built in Canada, for Canada and the world.
About Energy Plug Technologies Corp.
Energy Plug Technologies Corp. is a leader in secure and resilient energy storage solutions, advancing next-generation battery technologies for residential, commercial, and utility applications. The Company is committed to enhancing grid stability, cybersecurity, and sustainable energy adoption, working in collaboration with leading technology firms, government agencies, and Indigenous communities.
For more information, visit https://energyplug.com.
Contact:
Energy Plug Technologies Corp.
Paul Dickson CEO, Director
info@energyplug.com
(604) 283-1262
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Energy Plug Technologies Corp.'s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258803
FAQ
What are the major developments in Energy Plug Technologies (PLGGF) Q2 2025 update?
When does Energy Plug Technologies (PLGGF) expect to receive UL Certification for its battery storage solution?
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What is Energy Plug Technologies' (PLGGF) focus in the defense sector?
