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January 12, 2024


Newport Beach, CA, January 12, 2024 – Bitech Technologies Corporation [OTCQB: BTTC], (“the Company” or “Bitech”) a global technology solution provider dedicated to green energy solutions, is pleased to announce a binding Letter of Agreement (LOA) for a business combination with Bridgelink Development, LLC ("Bridgelink" or “BLD”), a leading solar and energy storage development company based in Fort Worth, Texas, together with the successful pre-negotiated financing of a significant investment amount toward a total 5.8 GW pipeline of utility power, procurement of key resources, and the establishment of a joint venture with an undisclosed larger infrastructure group.

These strategic initiatives between Bitech and Bridgelink underscore our joint force commitment to advancing BLD’s 3.840 gigawatts (GW) of solar projects and 1.965 GW of Battery Energy Storage Systems (BESS) projects in the United States including Texas, Arizona, and Louisiana. The pre- negotiated financing, procurement efforts, and joint venture partnership are pivotal steps in accelerating the development and deployment of sustainable energy solutions. We, Bitech and Bridgelink, together, plan to continue to progress development of the projects by utilizing a Share Subscription Agreement we are finalizing for up to $250 Million, committed Letter of Intent for one of our late-stage BESS projects near Houston, TX for up to $100 Million, as well as securing the sale of the Incentive Tax Credits (ITC).

The Business Combination calls for a capital infusion of not less than a $50 Million into the newly combined entity upon closing this transaction. The capital infusion shall be used for the business operations of a new Bitech including, but not limited to, the pursuit, execution, and/or implementation of the Development Projects, as well as the ongoing technology innovations, identification, pursuit, and/or acquisition of emerging technologies and/or companies owning or operating such technologies involving BESS, Solar, EMS, EV charging storage, micro grids, and/or other such “clean technologies”. Upon consummation of the Business Combination, the Company shall consist of two divisions or operational units: (1) a division that will pursue, execute, and/or implement the Development Projects (the “BESS and Solar Division”); and (2) a division that will pursue the technology solutions and acquisition business (the “Technology Solutions and Acquisition Division”). The Business Combination is expected to create new opportunities for employees as the combined expertise of Bridgelink and Bitech to accelerate project development, ultimately leading to the Commercial Operation Dates (COD) of the solar and BESS projects.

The LOA is a mutual commitment for a business combination (the “Business Combination”) between Bitech and Member (defined as BLD), where Member shall cause BLD to (i) transfer BLD’s assets and development service agreements (collectively, “Development Projects”) consisting of (a) the BESS Development Projects and (b) the Solar Development Projects, into a newly created entity (“New Entity” or “Target”) at or prior to the closing date and (ii) the owner or owners of Target shall exchange one hundred percent (100%) of the issued and outstanding units of Target, for an equity conversion of equivalent $50 Million in Bitech’s Common Stock (the “Exchange Shares”) such that Target will become a wholly owned subsidiary of Bitech upon the closing of the transaction. The number of Exchange Shares to be issued to Target represents approximately 31.8% of the issued and outstanding shares of Bitech’s capital stock on a proforma basis after giving effect to the issuance of the Exchange Shares (the “Exchange Share Price”).

"The successful pre-negotiated financing, procurement, and joint venture with a larger infrastructure group represent significant milestones for Bridgelink as we contribute to this business combination with Bitech to continue to drive innovation and sustainability in the energy sector. These strategic initiatives position us for continued success as we work diligently to bring our solar and energy storage projects to fruition. We are excited about the opportunities with Bitech that lie ahead and remain dedicated to our mission of advancing clean, renewable energy solutions, ” stated Cole W. Johnson, Chairman & CEO of Bridgelink.

This strategic partnership with a well-planned business combination marks a significant milestone for both Bitech and Bridgelink as both parties align with their foreseeable visions of advancing sustainable energy solutions together. The collaboration with Bitech, a technology-driven energy solutions company, will leverage the strengths of both organizations to expedite the development and deployment of solar and BESS projects in the U.S in a cost-effective manner.

Bitech is delighted to announce our partnership with Bridgelink, a leading company in the solar and energy storage industry. This collaboration is a perfect match for Bitech's dedication to providing cutting- edge and sustainable energy solutions. By joining forces, we aim to advance Bridgelink's impressive pipeline of solar and energy storage projects while navigating the complexities of project development together. Our collective strengths and expertise will allow us to bring these projects to completion efficiently, delivering tangible benefits to our stakeholders and the communities we serve. As two companies committed to the clean energy transition, we are excited about the potential impact this partnership can have on accelerating the shift towards a more sustainable future, ” commented Benjamin Tran, Chairman and CEO of Bitech Technologies, sharing his enthusiasm for this partnership.

The planned Business Combination between Bitech and Bridgelink is a strategic alliance that represents a vital step towards promoting sustainable practices and creating a greener future. With both companies joining forces, our focus on renewable energy will bring new projects to life, greatly impacting the clean energy landscape. By leveraging our expertise and resources, this collaborative effort has the potential to make a significant difference for our employees, stakeholders, and the environment. This partnership is a testament to our commitment to driving positive change and creating a more sustainable world for generations to come. By harnessing the power of renewable energy, we are paving the way for a cleaner world with reduced carbon emissions and increased energy efficiency.

For more information, please review our 8-K here.

About Bridgelink Development LLC

Bridgelink Development, LLC is a leading solar and energy storage development company headquartered in Fort Worth, Texas. With a commitment to advancing sustainable energy solutions, Bridgelink focuses on the development of utility-size solar and BESS projects throughout the U.S.

Contact:

Bridgelink Development, LLC
Investor Relations
Tel: 682-308-7941
Email: info@bridgelinkinvestments.com

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