Bitech Technologies Signs Letter of Intent with Value Added


Costa Mesa, CA, June 22, 2022 (GLOBE NEWSWIRE) – Bitech Technologies Corporation (formerly Spine Injury Solutions, Inc.) [OTCQB: SPIN] (the “Company”), a global technology solutions provider dedicated to delivering a suite of green energy solutions focused on cryptocurrency mining, data centers and other renewable energy initiatives, announces today that the Company has signed a Letter of Intent to conclude a bilateral agreement. non-exclusive sales distribution partnership with Paladin Power, Inc. (“Paladin Power”).

The Letter of Intent outlines our plans to establish a business partnership to bring Tesdison technology to market for residential and commercial use while exploring the potential application of Paladin Power’s Stackbatt ™ battery product line in conjunction with Tesdison technology. and any of the company’s close ones. -generation technologies and / or products.

In addition, the Letter of Intent may give rise to the possible creation of a future value-added reseller (VAR) contractual relationship between Paladin Power and the Company. The main components of this sales collaboration are expected to include the following:

  • Explore the market opportunity to have a rechargeable battery system for non-solar customers using the company’s patented, licensed Tesdison technology.
  • It is working on the joint development of new opportunities in the commercial and residential utility markets where the Company’s solutions can be used in a fast growing residential market captured by Paladin Power.
  • Test using Paladin Power’s Stackbatt battery and inverter technology with the company’s Tesdison engineering system.

We believe that the Letter of Intent marks the beginning of a sales relationship between the two technology companies that plan to join forces to maximize the potential use of technologies and mutual solutions in various industries, including cryptocurrency mining and utility applications. commercial and residential. .

Paladin Power plans to explore the application of Tesdison technology under the direction of Bitech Technologies in order to introduce this technologically advanced solution to ours existing customer base. We believe Bitech offers a unique business proposal that we are looking for now win-win relationshipSaid Ted Thomas, CEO of Paladin Power.

According to the Precedence Research report issued on April 20, 20221, the size of the global renewable energy market is expected to be worth around $ 1.998 trillion by 2030 and grow at a CAGR of 8.6% from 2022 to 2030. Increased government and corporate investment in the adoption and deployment of energy sources renewable in the industrial and industrial sector. The commercial sectors are driving the growth of the renewable energy market. With increasing investment in industrialization and urbanization, the demand for sustainable energy is growing significantly worldwide.

An Allied Market Research study published in January 2021 indicated that the size of the global smart energy market was valued at $ 124 billion in 2019, and is projected to reach $ 253.1 billion in 2027, growing to a CAGR of 9, 6% between 2020 and 2027. Smart energy is a cost-effective, sustainable and secure energy system that focuses on sustainable energy production while reducing the cost of production.2.

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1 See: https://www.globenewswire.com/en/news-release/2022/04/20/2425276/0/en/Renewable-Energy-Market-Size-to-Worth-Around-US-1-998- 03-Bn-by-2030.html

2 See: https://www.alliedmarketresearch.com/smart-energy-market-A09434

We are excited to work with Paladin Power to explore the opportunity to bring Tesdison technology to the realm of residential utilities as we work with Paladin’s technical team to consider innovating a new solution to maximize off-grid power. markets using Stackbatt e Tesdison combined technology solution, pointing to provide improved power efficiency for every home in America “said Dr. Benjamin Tran, CEO of Bitech Technologies.

About Bitech Technologies Corporationn

Bitech Technologies Corporation (OTCQB: SPIN), formerly known as Spine Injury Solutions, Inc., is a global technology solutions provider dedicated to providing a suite of green energy solutions focused on cryptocurrency mining, data centers, service delivery commercial and residential, electricity. vehicles and other renewable energy initiatives. Bitech seeks to offer its integrated Evirontek platform to address the exorbitant cost of electricity in the cryptographic mining and related industries. Its main technology is Tesdison, a revolutionary U.S. patented dual battery charging system technology that provides greater energy generation efficiency. Bitech seeks business partnerships with renewable energy suppliers for various applications and collaborates with value-added resellers to facilitate and implement our modular and scalable system solution. For more information, visit www.bitech.tech.

About Paladin Power, Inc.

Paladin Power, Inc. is a technology company that has developed a new all-in-one energy storage solution that includes a stackable, scalable battery and an inverter without a stackable transformer that can power your entire home. The new Stackbatt Bus systems eliminate heavy, expensive, and dangerous wires with an innovative new way to connect batteries by placing them and clicking in their place to add more power capacity. This solution allows the battery compartment to get three to four times more power in the same footprint, while greatly improving the round-trip efficiency of the battery to and from the inverter. Equally advanced and novel are the scalable and stackable inverters that simply slide, taking only seconds to install up to 21 KW of inverter power, which used to take three people, several days to install an inverter of similar capacity using older traditional inverters. which are still in widespread use today. Paladin Power is based in California and would like to manufacture this new technology, including battery in California for the domestic and global markets. For more information on Paladin Power, visit their website at www.paladinpower.com.

Warning note on forward-looking statements

This press release contains statements that imply expectations, plans or intentions (such as those relating to future financial or business results) and other factors that are discussed from time to time in the documents of the company’s Stock Exchange and Securities Commission. These statements are forward-looking and subject to risks and uncertainties, so actual results may vary substantially. You can identify these forward-looking statements with words such as “may”, “should”, “expect”, “anticipate”, “believe”, “estimate”, “pretend”, “plan” and other similar expressions. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors beyond the Company’s control. The Company warns readers not to unduly trust such forward-looking statements, which only speak from the date made. The Company disclaims any subsequent obligation to review forward-looking statements to reflect events or circumstances subsequent to the date of such statements or to reflect the occurrence of anticipated or unforeseen events.

Contact:
Bitech Technologies Corporation
Investor relations
Phone: 1,855,777,0888
Email: info@bitech.tech



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