ENERGY PLUG TECHNOLOGIES ORD Stock Price, News & Analysis

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has entered into a Memorandum of Understanding (MOU) with Power Touch Corp., a Taiwan-based company specializing in Asus' AI and Internet Data Centre (IDC) hardware. The MOU aims to provide battery energy storage for Power Touch's IDCs in Canada, focusing on AI, heavy compute, and crypto mining operations.

Key points:

• Energy Plug will allocate or sell power from its battery storage programs to Power Touch's IDCs.
• The collaboration addresses the growing electricity demand from data centers, expected to consume 13% of global electricity by 2030.
• The partnership aims to enable sustainable data centre infrastructure solutions and explore opportunities in the USA, Latin America, India, and the Middle East.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has provided a corporate update highlighting key activities and near-term objectives. The company has:

1. Signed its first battery storage deal with Ximen Mining Corp.
2. Formed a partnership with Malahat Nation for a Gigafactory
3. Signed an MOU with Siemens Canada
4. Entered into MOUs with Power Touch Corp., Anasis Tech , METAENERGY TECHNOLOGY CO , and Enwind Power Co
5. Focused on targeting utilities, commercial and industrial companies, data centers, and AI applications
6. Submitted grant applications with Malahat Nation
7. Addressed regulatory concerns with BCSC
8. Strengthened its team with notable additions

The company aims to complete its first BESS installation by September 2024 and begin Gigafactory construction in Q4 2024.

Energy Plug Technologies Corp. (CSE: PLUG, OTCQB: PLGGF, FSE: 6GQ) announced the resignation of Jan Urata as Corporate Secretary, effective June 26, 2024. The company expressed gratitude for Urata's contributions. Connie Hang, the current CFO, will assume the role of Corporate Secretary in addition to her responsibilities as CFO.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) has released an amended and restated Management's Discussion and Analysis (MD&A) for the three months ending September 30, 2023. This updated MD&A clarifies the company's business overview and details the acquisition of True North Battery Storage Corp. It also provides anticipated production figures and projections for a proposed joint venture with the Malahat First Nation. The amendment comes after a review by the British Columbia Securities Commission, aimed to enhance disclosure and transparency in the company's reporting.

Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) has signed its first battery contract with Ximen Mining Corp. (TSXV: XIM) to install a 20kWh Battery Energy Storage System (BESS) at the Kenville Gold Mine in Nelson, BC. This contract is part of a larger two-phase clean electricity generation program, which aims to leverage renewable energy sources such as solar and hydropower. Phase one involves the installation of the 20kWh BESS, helping Ximen reduce diesel consumption and improve energy reliability. Phase two will see the installation of a 100kWh BESS. The project aims to support Ximen's net-zero targets, generate $25,000 per 20kWh unit for Energy Plug, and enhance the mine's energy efficiency and infrastructure.

Energy Plug Technologies announced the successful conclusion of its early warrant exercise program, initially launched on May 7, 2024. The program targeted 15,900,000 share purchase warrants issued during a private placement on May 16, 2023. Holders of these warrants received one-half of an additional common share purchase warrant for each exercised warrant. With a total of 2,900,000 warrants exercised, the company raised $217,500 in gross proceeds and issued 2,900,000 common shares and 1,450,000 new purchase warrants. These new warrants allow holders to buy shares at $0.075 each until May 16, 2025. Proceeds will be used for working capital. Additionally, the new warrants are subject to a four-month hold period under Canadian law.

Energy Plug Technologies appoints Jonathon Redbird to its Board of Directors, effective May 16, 2024. Redbird, with over 20 years of experience in finance and economic development, will advise on Indigenous relations and support strategic partnerships and R&D opportunities in Indigenous communities. He is a member of the Saugeen First Nation and has held leadership roles at Pontiac Group and CORE Advisor. Additionally, Energy Plug has retained Renmark Financial Communications for investor relations services from June 1, 2024, until December 31, 2024, with a monthly fee of CAD $9,000. Renmark will assist in investor communications and market research.

Energy Plug Technologies Corp. (CSE: PLUG) has signed a Memorandum of Understanding with Enwind Power Co , a Taiwanese engineering firm, to collaborate on research and development of microgrid and Battery Energy Storage System (BESS) products. The parties aim to localize products for Canadian, North American, and Latin American markets. Energy Plug is focusing on meeting the increasing demand for microgrid and battery storage units, with plans to develop 20kWh and 100kWh systems.

Energy Plug Technologies Corp. announces an early warrant exercise program for 14.7 million unlisted common share purchase warrants with an exercise price of $0.075 per share and an expiry date of May 16, 2024. Warrant holders who exercise will receive one-half common share purchase warrant for each exercised warrant. The company plans to use the proceeds for working capital.