Newport Beach, CA, May 8, 2023 -- Bitech Technologies Corporation [OTCQB: BTTC] (the “Company” or “Bitech”), a global technology solution provider dedicated to providing a suite of green energy solutions with a focus on green data centers, commercial and residential utility, electric vehicle infrastructure and other renewable energy initiatives today announces it has received a Letter of Intent (LOI) from Nam Viet Green Energy JSC, (“Nam Viet Energy”), a Vietnam partner to provide up to $300 million in financing for selected projects related to solar and Battery Energy Storage System (BESS) projects.

The LOI confirms a formal relationship between the two companies, showing a keen investment commitment from the Asia Pacific region into one of the fastest growing renewable energy sectors in the United States today, thus positioning Bitech to accelerate its refocused business initiatives. We believe this new investment commitment validates Bitech's vision enabling the company to implement its business plan to power future growth. We believe the LOI signals a major collaborative step forward for the two companies.

Subject to Nam Viet Energy’s completion of due diligence for each renewable energy sector project and execution of definitive agreements with prospective target companies, this LOI formalizes Nam Viet Energy’s commitment to facilitate capital investment to invest or acquire several selected projects to be hand-picked by Bitech. The funding under any such investment from Nam Viet Energy and its reliable capital partners from Southeast Asia is expected to occur within fiscal year 2023 with extension to fiscal year 2024.

Nam Viet Energy’s commitment is in alignment with Bitech’s refocused business development growth plans to seek the newest renewable energy technologies through exclusive licensing or acquisitions of innovative green energy technologies and selective operations or acquisitions of good return-on-investment Battery Energy Storage System (BESS) power plant projects, followed by capital injection from industry-experienced global capital partners and then applying more efficient green energy technologies in newer power plants as a pioneering technology enabler in the green energy sector.

“This is an important partnership for Bitech as we look forward to working with Nam Viet Energy to expand its regional investment portfolio as an engineering, procurement and construction (EPC) company that seeks global expansion in the renewable energy sector while expanding the renewable technology market globally, starting with Vietnam and Southeast Asia, said Dr. Benjamin Tran, CEO of Bitech Technologies. “The synergy between our companies will provide us a greater benefit as we go full force into this sector with plans for new capital investment from Asia,” added Dr. Tran.

“Our expansion focus at Nam Viet Energy this year is fully anchored with Bitech Technologies which, we believe, can bring many commercially viable and advanced technologies and new battery supplies to the burgeoning Asia region to help reduce our EPC cost and enhance power efficiency here in our regional operations,” stated Mr. Nguyen Tan Hung, CEO of Nam Viet Energy. “Bitech’s focus in the United States renewable energy market and their commitment to expanding innovative green energy technologies and products, together with their U.S. local regulatory understanding in the BESS business at the ground level makes them the ideal operating partner to help us forward our mission toward global expansion.”

The global renewable energy market is expected to continue its upward growth over the next years. According to the Next Move Strategy Consulting Group, the market is expected to reach over two trillion U.S. dollars by 2030. Environmental concerns regarding fossil fuels, rapid urbanization, and economic growth in emerging regions are all major factors that are contributing to the projected market growth.⁽¹⁾

⁽¹⁾ See: https://www.statista.com/statistics/1094309/renewable-energy-market-size-global/

About Nam Viet Green Energy JSC

Among the pioneers of renewable project builders in Vietnam encompassing renewable project research, investment, and development for public and household consumption, Nam Viet Green Energy JSC is an EPC (Engineering, Procurement, and Construction) company dedicated to participating in exceptionally high ROI renewable energy opportunities to share with its worldwide investors via developments of renewable energy projects serving a huge demand for electricity in Vietnam. Nam Viet Energy invests and co-invests in mid-sized and large-scale renewable energy projects, particularly solar energy and wind energy including project design, technologically advanced equipment supply, and building state-of-the-art energy facilities with installations of high-end mechanical and electrical systems in civil and industrial projects. Nam Viet Energy acquires, operates, and maintains several major energy facilities in Vietnam. For more information, please visit https://namvietenergy.com/en

About Bitech Technologies Corporation

Bitech Technologies Corporation (OTCQB: BTTC), is an independent power provider with a core business in developing and operating Battery Energy Storage Systems (BESS) to enhance grid stability and produce consistent 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.

Company Contact:

Bitech Technologies Corporation
Tel: 1.855.777.0888
Email: info@bitech.tech

External Investor Relations:

Chris Tyson, Executive Vice President & Partner
MZ Group - MZ North America
949-491-8235
BTTC@mzgroup.us
www.mzgroup.us