Connect with us:

January 5, 2024


Newport Beach, CA, January 5, 2024 - Bitech Technologies Corporation [OTCQB: BTTC], (“the Company” or “Bitech”) a global technology solution provider dedicated to green energy solutions, is pleased to announce the launch of its previously announced initiative to enter into the Building Energy Management System (BEMS) business. In a strategic advancement to further enhance its technology offerings, the Company has developed innovative technology solutions specifically designed for MDU (Multi Dwelling Unit) buildings. The Company has received an initial purchase order constituting a BEMS master contract of Virtual Power Plant (VPP) Program designed to save electricity for approximately 4,000 MDU units from a strategic customer who is working with PJM, a Regional Transmission Organization (RTO) that coordinates the movement of wholesale electricity in the District of Columbia in the U.S. and all or parts of 13 states including Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia.

According to Statista, the number of U.S. housing units is growing year-over-year, and in 2022 there were approximately 144 million homes.[1] From young families just starting out to empty nesters looking to downsize, multifamily homes are an increasingly popular option for U.S. households. These spaces include apartment buildings, condominiums, townhouses, and mixed-use developments. In 2018, there were 56.15 million multifamily homes in the United States, and this number was set to reach 155.25 million in 2023.[2] Parks Associates' new research, Smart Home Opportunities in Multifamily Properties, finds 27% of multi-dwelling unit (MDU) residents have a smart device provided by their landlord or property owners.[3]

The Company recognizes that opportunities with RTOs and owners of MDUs are the key to achieving the fastest growth for our energy-saving integrated solutions. With the rising demand for sustainable and cost- effective energy solutions, we see immense potential in partnering with them to implement our innovative ADR[4] (Automated Demand Response) technology. This will not only benefit the MDU owners and residents by providing them with significant energy savings but also contributes towards a greener future for all. Bitech Technologies is committed to continuously improving and expanding our services to cater to the increasing demand for energy efficiency in the MDU market, making it one of the newest focus areas for our forward-looking revenue growth strategy.

After months of research and development, the Company is proud to unveil its latest technology solution specifically designed for MDU buildings. This new development marks a significant milestone for Bitech Technologies, as it not only strengthens its position in the market but also opens a new revenue stream. The Company's dedication to pioneering cutting-edge solutions has proven to be fruitful with an initial purchase order for this initiative, where its management believes this high margin business lays the foundation for an expectedly profitable 2024 fiscal year.

Our leadership team is convinced that our state-of-the-art solution will not only enhance the efficiency of BEMS but also provide a much-needed convenience to residents of MDU buildings. With our cutting- edge technology solution, building managers can now remotely monitor and control energy usage in individual units, resulting in significant cost savings for both the building owner and tenants. The initial response from our customer to our energy saving BEMS solution for buildings has been overwhelmingly positive, as our unique selling point of this solution lies in its ability to integrate seamlessly into existing systems, making adoption hassle-free for MDU building owners.

Bitech Technologies' latest offering doesn't just benefit building owners who get paid by RTOs for energy saving bonuses, which is in alignment with federal reward programs initiated by the U.S. Department of Energy. Tenants living in these multi-dweller units may also see a noticeable improvement in their living experience with our solutions. With real-time data on their energy consumption and personalized temperature control options, they can now have more control over their utility bills and comfort levels via our technologically advanced ADR solution.

Our Virtual Power Plant Program offers a comprehensive set of integrated ADR solutions that ensure the smooth and efficient installation of various components, including Smart Thermostat (ST), Heavy Duty Smart Switches (HDSS), Gateways, and Repeaters in Apartment/MDU buildings. The installation process includes the deployment of ST and HDSS units in each apartment unit, with coordination and supervision from the apartment building managers. This ensures all units are equipped with the necessary devices to support advanced demand response functions. The Gateway is typically installed in the apartment equipment room while the Repeater is placed in public areas for optimal coverage. Our configuration services aim to maximize efficiency by pre-pairing devices and only requiring minimal verification during the installation process, which can also be done through a user-friendly mobile app. Our technical team also conducts a thorough study of the apartment infrastructure to determine the best networking options for installing Gateways, such as wired LAN cables from floor-to-floor or using wireless broadband customer premises equipment. With our cost-effective VPP program, we strive to provide a seamless experience for both apartment residents and managers while ensuring maximum functionality and efficiency for advanced demand response systems.

Not only does this new technology solution offer added convenience and cost savings, but it also promotes sustainable practices by reducing overall building energy consumption. This aligns perfectly with Bitech Technologies' core values of innovation and environmental responsibility.

In light of this exciting milestone, Bitech Chairman and CEO Benjamin Tran said, "We are thrilled to introduce our latest technology solution in the BEMS arena, which not only has the potential to attract new clients but also supports our commitment towards creating a greener future. We are confident that our plans to partner with large MDU building owners and power transmission organizations will bring about positive change in the energy industry and contribute to a more sustainable tomorrow."

Our leadership team believes Bitech’s new technology solution for MDU buildings with potentially profitable revenue projection that we expect will have a compelling positive impact across the BEMS industry due to its potential to digitally transform building operations, reduce costs, and promote sustainability. The Company’s vision for energy smarter and greener future is expected to take a significant leap forward with this innovative initiative, as Bitech continues to seek to establish itself as a leader in cutting-edge, energy-saving technology solutions.

According to Research and Markets, the global market for Building Energy Management Systems (BEMS) was estimated at $4.3 billion in 2022 and is projected to reach $12.3 billion by 2030, growing at a CAGR of 14.2% over the analysis period 2022-2030.[5]

[1] See: Number of U.S. housing units and annual increase by Statista Research

[2] See: Number of Multifamily Homes in the US

[3] See: Park Associates: Smart Home Opportunity in Multifamily Properties

[4] See: What is ADR in the Power Industry?

[5] See: Building Energy Management Systems (BEMS) - Global Strategic Report

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