Pacific Green targets 12GWh battery energy storage capacity across four global markets

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1. GlobeNewswire

• Company doubles down connected BESS arsenic a privilege attraction successful 2024, having expanded its world pipeline to 6GWh successful 2023.
• Australia and Italy are hotspots for important description of origination portfolio, alongside introduction into Polish market.
• Further description of UK portfolio, arsenic pioneering Richborough task enters first afloat twelvemonth of cognition and building is underway astatine immense Sheaf project.

DOVER, DE, Feb. 06, 2024 (GLOBE NEWSWIRE) —  Global power retention and biology exertion company, Pacific Green Technologies, Inc. (“Pacific Green”, OTCQB: PGTK) is targeting much than 12GWh of artillery power retention capacity crossed 4 world markets.

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Having achieved accelerated pipeline maturation to 6GWh successful 2023 – taking standard positions successful nan emerging Italian and Australian power retention markets, arsenic good arsenic moving its first task into cognition astatine Richborough, UK – nan institution is doubling down connected utility-scale artillery power retention systems (BESS) arsenic a privilege attraction for 2024 and beyond.

Australia and Italy stay hotspots for important further pipeline description , pinch nan institution besides seeking to recharge its origination portfolio successful nan maturing UK market, arsenic good arsenic taking its first steps into nan nascent Polish market.

Pacific Green is targeting a minimum of 1GWh capacity successful each marketplace it enters. Its targets for 2024 include:

UK – cognition / improvement / origination

Recent strategical milestones person included commissioning nan 99.8MWh Richborough Energy Park, achieving financial adjacent astatine neighbouring 373.5MWh Sheaf Energy Park – 1 of nan first and largest non-recourse indebtedness financed BESS sites successful nan world, and transferring ownership of some projects to power modulation money Sosteneo.

2024 priorities see progressing building of Sheaf Energy Park up of its July 2025 commissioning day and further expanding nan UK origination portfolio.

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Australia – improvement / origination

Having past twelvemonth secured onshore exclusivity agreements for 2 awesome BESS projects successful Southern Australia pinch 3GWh of retention capacity, Pacific Green intends to much than double its greenfield origination pipeline to 6GWh+.

Pacific Green’s Australian squad is targeting financial adjacent connected its first 500MWh of retention capacity this year, up of nan commencement of commercialized operations successful 2026.

Italy – improvement / origination

Having acquired a mostly shareholding successful 5 artillery power parks successful Italy from originator Sphera Energy successful 2023, totalling 2.8GWh capacity, Pacific Green’s squad successful Italy is targeting financial adjacent connected its first 1,500MWh of retention capacity this year, up of nan commencement of commercialized operations successful 2026.

The squad besides intends to further grow its origination portfolio to almost 5GWh successful total.

Poland – origination

Pacific Green intends to participate nan nascent Polish marketplace successful 2024, targeting an first origination pipeline of astir 400MWh retention capacity.

Scott Poulter, Pacific Green’s Chief Executive, said:

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“We’re focused connected rolling retired next-generation artillery power parks astatine standard and astatine velocity – drafting connected a unsocial operation of technology, task improvement and task finance expertise, alongside relationships cultivated pinch trusted partners passim nan BESS proviso chain.

“Our activity successful 2023 demonstrated nan velocity and ratio pinch which our squad tin bring guardant captious caller BESS assets and present important worth to our shareholders – and we intend to proceed building nan gait successful 2024 and beyond.

“The domiciled of artillery retention successful advancing nan power modulation is nary longer debatable – but to execute nan momentous maturation that’s needed successful operational capacity, nan marketplace needs to double down connected its efforts to originate workable projects and commercialise and deploy nan exertion efficiently.  We’re laser focused connected building nan pipeline, nan squad and nan world relationships needed to make a existent quality successful this sector.”

-ENDS-

About Pacific Green Technologies, Inc.:

Pacific Green is simply a world power retention and biology exertion company, connected a ngo to beforehand nan modulation to sustainable power solutions.

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The business is focused connected quickly building a world portfolio of utility-scale artillery power retention systems (BESS), pinch a existent full of 6GWh of power retention capacity successful development, building aliases operation.

Pacific Green’s squad brings together extended technology, task improvement and task finance expertise – having commercialised galore pioneering technologies, and steered awesome world power and infrastructure projects successfully done financing and development.

This in-house expertise is complemented by strategical relationships cultivated pinch trusted partners astatine each levels of nan world biology proviso concatenation – providing entree to nan very champion exertion and manufacturing capabilities connected offer, alongside internationally respected financial institutions and task partners.

For much information, visit: www.pacificgreen.com

Notice Regarding Forward-Looking Statements:

This news merchandise contains “forward-looking statements,” arsenic that word is defined successful Section 27A of nan United States Securities Act of 1933 and Section 21E of nan Securities Exchange Act of 1934. Statements successful this news merchandise which are not purely humanities are forward-looking statements and see immoderate statements regarding beliefs, plans, expectations aliases intentions regarding nan future. Such forward-looking statements include, among different things, nan continued improvement of nan Project, immoderate imaginable business developments and early liking successful Pacific Green’s battery, star and biology technologies.

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Actual results could disagree from those projected successful immoderate forward-looking statements owed to galore factors. Such factors include, among others, nan continuation of nan improvement of nan Project, wide economical and governmental conditions. These forward-looking statements are made arsenic of nan day of this news release, and Pacific Green assumes nary responsibility to update nan forward-looking statements, aliases to update nan reasons why existent results could disagree from those projected successful nan forward-looking statements. Although Pacific Green believes that nan beliefs, plans, expectations and intentions contained successful this news merchandise are reasonable, location tin beryllium nary assurance that specified beliefs, plans, expectations aliases intentions will beryllium to beryllium accurate. Investors should consult each nan accusation group distant herein and should besides mention to nan consequence factors disclosure outlined successful Pacific Green’s yearly study connected Form 10-K for nan astir caller fiscal year, Pacific Green’s quarterly reports connected Form 10-Q and different periodic reports revenge from time-to-time pinch nan Securities and Exchange Commission.

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