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- Access on: 2024-10-07 10:24:21 (New York)
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May 2, 2022
Costa Mesa, CA, May 2, 2022 – Bitech Technologies Corporation (formerly, Spine Injury Solutions, Inc) [OTCQB: SPIN] (the “Company”), a global technology solution provider dedicated to providing a suite of green energy solutions with a focus in cryptocurrency mining and data centers today announces the change of its corporate name to Bitech Technologies Corporation. This name change is part of the Company’s planned expansion of its business to focus on the introduction of Tesdison technology, a patented self-charging technology to provide a green energy solution to the cryptocurrency mining sector.
Tesdison, with its name inspired by the combination of Tesla and Edison, is a U.S. patented technology (U.S. patent no.: 10,547,179 B2). This disruptive technology is referred to as a High Efficiency Electric Power Generation and Charging System. This system is expected to result in a power-savings solution with up to a 99% energy efficiency to replace costly application specific integrated circuits (ASICs) used to mine cryptocurrencies and significantly reduce exorbitant electricity bills.
The Company’s long-term business vision is to globalize the commercialization of this Tesdison technology in the cryptocurrency mining sector as our core business model. We also plan to seek technology partnerships with energy providers, envisioning the technological impact of the current market landscape today. The Tesdison technology has international protections in many countries of the world including the U.S., Canada, European Union, Japan, South Korea, China, Australia, and all ASEAN countries except Brunei and Myanmar. This technology is expected to offer the following advantages:
We are planning to deploy the Tesdison technology to existing battery storage facilities regardless of the type of batteries being used. While we expect new revenue to be created with a limited increase in overhead costs for infrastructure development, we also expect to rapidly deploy our battery power technology to the grid when needed which is expected to result in more power being generated using less resources. The Tesdison technology is infinitely scalable to meet varying demands of our clients. This technology was validated by National Technical Systems (“NTS”) in September 2019. Established in 1961, NTS is a global provider of testing, inspection and certification services.
There are several expected green benefits of the Tesdison technology that include:
The Company plans to take a strategic expansion approach by collaborating with major cryptocurrency miners to accelerate revenue generation, aiming to quickly obtain a sizable market share where there is a win-win revenue sharing model which could be substantial to the Company in the long run. We have created a market penetration model that accommodates our “green tech” brand recognition with global expansion and balances our planned revenue lines between top players in the cryptocurrency mining sector, upcoming cryptocurrency miners, data center operators, and renewable power plants where Tesdison technology can be applied with scalability.
“Today we are poised to bring this disruptive technology to the cryptocurrency mining sector where digital assets have become a new way of life. We seek global partnerships with capable business partners to capture what we believe is a very big and growing market to greatly benefit all parties involved,” stated Dr. Benjamin Tran, CEO of Bitech Technologies.
The Company brings out a breakthrough renewable energy solution that it believes offers a solution to one of the world’s largest problems - global warming and radical climate change – by quickly reducing the dependence and burning of harmful fossil fuels. Based on our studies, the Tesdison technology solution can result in a return on investment (ROI) of up to an average of 2.5 times faster than that of any solar power solutions. Using Tesdison technology, the Company is also exploring an additional revenue model via carbon credit strategy with feasible financing options on a worldwide basis.
The Company’s name change was approved by its board of directors on April 28, 2022 and it plans to file a notice regarding the name change and a request for a symbol change with The Financial Industry Regulatory Authority, Inc. (“FINRA”). An updated Form 8-K will be filed by the Company upon FINRA’s acceptance and approval of the name change and issuance of a new trading symbol.
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