Energy Plug Technologies Corp. - Q2 2025 Corporate Update

Core Insights - Energy Plug Technologies Corp. is focusing on delivering Canadian-designed secure energy systems, targeting both domestic and export markets with components primarily sourced from Canada [1] - The company has made significant advancements in technology innovation, commercial expansion, and strategic partnerships, particularly in the defence, telecommunications, and cybersecurity sectors [2] Strategic Partnerships - A key partnership has been formed with SEETEL New Energy Co., Ltd. to develop battery storage solutions using a non-China supply chain, enhancing secure and geopolitically stable energy delivery systems [3] - The partnership with Malahat Battery Technologies has strengthened, allowing both companies to enter new sectors, including government and non-government markets [2] Market Readiness - The company is undergoing UL Certification for a 5MWh containerized battery storage solution, expected to be completed by September 2025, which is a significant milestone for commercial deployment in Canada and the U.S. [4] Executive Team Expansion - The company has appointed a new Chief Technology Officer, Chief Financial Officer, controller, and additional technical staff, enhancing its leadership and technical capabilities [5] Financial Progress - Energy Plug has transitioned from a negative working capital position in December 2024 to a positive financial position in 2025, with a notable reduction in accounts payable [6] Major Project Development - The company is involved in four proposed multimillion-dollar projects with 3GA Marine Ltd. and three projects with BC Hydro, focusing on electrifying the ports of Vancouver, Victoria, and Gibsons to support Vancouver Greenline Ferries [7] Government Engagement - Meetings have been held with provincial ministers in Ontario and British Columbia to explore expansion opportunities, including new manufacturing operations for Secure Energy Systems targeting utilities, residential, and defence sectors [8] Defence Industry Collaboration - Company representatives attended CanSec 2025 in Ottawa, initiating R&D engagements with an international defence contractor [9] Canadian Technology Partnerships - Agreements have been signed with several Canadian technology firms to co-develop Secure Energy Projects across various sectors [11] Advanced R&D Collaborations - Continued collaboration with Quantum eMotion Corp on quantum-based security IP solutions and new partnerships with Hillcrest Energy Technologies for innovative inverter technology [12]