Bitech Technologies acquires Emergen Energy to bolster green energy portfolio
Bitech Technologies Corporation [OTCQB: BTTC], a key player in green energy solutions, announced the completion of its acquisition of Emergen Energy LLC from Texas-based Bridgelink Development, LLC. This significant transaction, finalized on April 24, 2024, positions Bitech to control a substantial pipeline of about 5.8 GW (gigawatts) across several battery energy storage system (BESS) and solar projects. This move is expected to fortify Bitech’s standing in the renewable energy market and propel its growth toward sustainability.
The acquisition marks a pivotal step in Bitech’s strategic expansion, enhancing its capabilities in the burgeoning sectors of solar power and energy storage. “The acquisition of Emergen is expected to strengthen Bitech’s position as a new player in the green energy sector with projected sustainable operating assets,” stated Benjamin Tran, Chairman and CEO of Bitech Technologies. This development is part of Bitech’s broader strategy to scale operations and pursue a potential uplist to NASDAQ, aiming to increase its visibility and attract further investment.
Cole Johnson, former CEO of Bridgelink Development and new Board Member and President of Bitech Technologies, expressed enthusiasm about the merger: “We are thrilled to join forces with Bitech to advance our next phase of expansion together. Our mutual objective is to invest in and advance clean and adaptable renewable energy technologies, paving the way for a sustainable future.”
The integration of Emergen into Bitech’s operations significantly enhances the company’s market potential. With 1.965 GW of BESS and 3.8 GW of solar power capacity in its pipeline, Bitech is poised to capture significant shares of the U.S. BESS and solar markets, subject to securing necessary financing for these projects. The strategic merger is projected to deliver substantial benefits to shareholders, with potential valuations reaching up to approximately $325 million in net present values (NPV) by 2025.
The acquisition aligns with recent federal initiatives, including $7 billion in U.S. solar power grants announced on Earth Day, highlighting solar energy’s growing role in reducing reliance on fossil fuels and combating climate change. Bitech’s enhanced portfolio supports this national shift towards renewable energy, further positioning the company as a leader in sustainable energy solutions.
This acquisition by Bitech Technologies represents a transformative development in the renewable energy sector, setting the stage for accelerated growth and innovation. By acquiring Emergen Energy, Bitech not only diversifies its energy portfolio but also strengthens its market position in a competitive industry, paving the way for increased operational success and shareholder value.