Connect with us:

June 22, 2022


Costa Mesa, CA, June 22, 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, data centers and other renewable energy initiatives today announces the Company has signed a Letter of Intent to enter into a bilateral non-exclusive sales distribution partnership with Paladin Power, Inc. (“Paladin Power”).

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

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

  • Explore market opportunity to have a rechargeable battery system for non-solar customers using the Company's licensed and patented Tesdison technology.

  • Work on co-developing new opportunities in 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 the Letter of Intent signifies the beginning of a sales relationship between the two technology companies who plan to join forces to maximize the potential usage of each other’s technologies and solutions in several industry sectors including cryptocurrency mining as well as the commercial and residential utility applications.

“Paladin Power is planning to explore the application of the Tesdison technology under the guidance of Bitech Technologies in order to introduce this technologically advanced solution to our existing customer base. We believe Bitech provides a unique business proposition we are looking for in a win-win relationship”, commented Ted Thomas, CEO of Paladin Power.

According to Precedence Research report issued on April 20, 20221, the global renewable energy market size is expected to worth around USD 1.998 trillion by 2030 and growing at a CAGR of 8.6% from 2022 to 2030. The rising government and corporate investments towards the adoption and deployment of the renewable energy sources in the industrial and commercial sectors is driving the growth of the renewable energy market. With the rising investments in the industrialization and urbanization, the demand for the sustainable energy is growing significantly across the globe.

A study from Allied Market Research published in January 2021 indicated that the global smart energy market size was valued at USD 124.0 billion in 2019, and is projected to reach USD 253.1 billion by 2027, growing at a CAGR of 9.6% from 2020 to 2027. Smart energy is a cost-effective, sustainable, and secure energy system, which focuses on sustainable energy production while reducing the production cost2.

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 residential utility arena while collaborating with Paladin’s technical team to consider innovating a new solution to maximize the off-grid energy markets using Stackbatt and Tesdison technology combined solution, aiming to provide enhanced power efficiency for every home in America”, stated Dr. Benjamin Tran, Bitech Technologies CEO.

About Bitech Technologies Corporation

Bitech Technologies Corporation (OTCQB: BTTC), is a global technology enabler serving as an independent power provider with a core business in Battery Energy Storage Systems (BESS) to enhance grid stability and produce sustainable 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.

Contact:

Bitech Technologies Corporation
Investor Relations
Tel: 1.855.777.0888
Email: info@bitech.tech