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February 15, 2024


Newport Beach, CA, February 15, 2024 – Bitech Technologies Corporation [OTCQB: BTTC], (“the Company” or “Bitech”) a global technology solution provider dedicated to green energy solutions, is pleased to announce it has completed due diligence on the planned 23 Battery Energy Storage Systems (BESS) development projects (collectively, the “BESS Development Projects”) identified in the January 8, 2024 Letter of Agreement (the “LOA”) it entered into with Bridgelink Development LLC, a solar and energy storage development company based in Fort Worth, Texas (“Bridgelink” or “BLD”). The BESS Development Projects and the LOA are disclosed in a Form 8-K filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) on January 12, 2024 (the “Form 8-K”). As previously disclosed in the Company’s January 12, 2024 press release and the Form 8-K, the LOA provides for a business combination between the Company and Bridgelink, whereby the Company plans to complete development of a total 5.8 gigawatt (GW) pipeline of combined BESS and solar utility power and procurement of key resources.

Following completion of its core due diligence and its investigation and analysis of Bridgelink's BESS Development Projects, Bitech has developed a solid, basic understanding of the BESS Development Projects and Bridgelink's plans and strategies as to those projects, as well as how they are expected to affect the Company’s future prospects, following the completion of the proposed transactions.

Further, we continue to believe that the 1.965 gigawatt (GW) pipeline of BESS Development Projects hold significant potential value and that the Bridgelink management team driving them possess a solid understanding and experience in developing these types of projects. Furthermore, they have also engaged competent vendors and consultants who bring their expertise to assist in the pursuit and execution of these projects. Additionally, a closer examination reveals that these projects are being executed in a proficient manner, reflecting the team's capabilities and diligence. Overall, based on our findings and assessment, it can be concluded that these projects are progressing effectively under the guidance of experienced professionals.

Based on the information posted on the Electric Reliability Council of Texas (“ERCOT”) website, as of June 2023, there were approximately 3,300 megawatts (MW) of battery storage integrated into the ERCOT system. These batteries play a crucial role in providing backup power and maintaining grid stability during periods of high demand. However, with the increasing adoption of renewable energy sources such as solar and wind, it is estimated that by October 2024, the total capacity of batteries on the ERCOT system will reach 9,500 MW.

This significant growth in battery storage capabilities highlights the importance of incorporating these sustainable energy solutions into our power infrastructure to meet growing electricity demands while also reducing our carbon footprint. Bitech recognizes the advancements being made in battery technology and is committed to supporting this positive shift towards a greener and more reliable energy future for Texas and many other energy thriving states,” stated Benjamin Tran, CEO of Bitech Technologies.

In sum, the Company believes that the BESS Development Projects appear legitimate and viable, the Bridgelink management team appears competent and have been moving the projects forward and there appears to be a need for more battery energy storage capacity on the ERCOT grid and those of other regional Independent System Operators (ISOs).

Through its thorough evaluation and analysis, Bitech believes Bridgelink is able to identify potential risks and challenges associated with any greenfield project, allowing them to provide strategic solutions and mitigate any obstacles that may arise. Their high standards for due diligence project development serve as a testament to their reliability and proficiency in delivering successful outcomes for all parties involved. With this approach, Bitech’s management team believes that Bridgelink will continue to establish itself as a trusted partner for Bitech and organizations looking to embark on greenfield projects with confidence and expert guidance.

With all of these important factors considered, Bridgelink is well-equipped to move forward quickly with the business combination with Bitech and begin implementing our combo plans with confidence and commitment to success and sets a solid foundation for future growth and development in the renewable industry,” added Cole Johnson, CEO of Bridgelink Development.

Completion of the BESS Development Projects is subject to obtaining adequate financing, regulatory and environmental approvals, entering into definitive agreements to secure the sites where we plan to locate each project and entering into interconnection agreements, among other things. Further, completion of the Business Combination is subject to certain closing conditions disclosed in the Form 8-K that are customary for a transaction of this nature, including a commitment for no less than $50,000,000 in financing.

For more information on our binding Letter of Agreement, please review the Form 8-K at this link

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. For more information, please visit www.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