Tag: Pacific Green Technologies Inc

Pacific Green Makes Key Appointment as it Enters the Commercial Marine Wind Propulsion Technology Sector

Pacific Green Marine Technologies Inc. a fully owned subsidiary of Pacific Green Technologies Inc. (“PGTK”) has appointed wind propulsion technology expert George Thompson as a lead consultant to assist the group entering the rapidly expanding wind propulsion market in the marine sector.

George Thompson joins Pacific Green from BAR Technologies, the technical spinoff of the UK based America’s Cup team where he worked on the company’s aerofoil system developing technology and modelling foil performance using artificial intelligence and machine learning techniques.

George said “It is great to join Pacific Green and work with such a dynamic and forward-thinking group of people with a vast amount of real-world commercial shipping technology experience” he stated. “The wind propulsion market is gaining momentum fast and I was surprised how progressed Pacific Green’s work was on wind propulsion technology upon joining the group. We are perfectly placed now to accelerate the current work to deliver this technology to Pacific Green’s clients.”

Pacific Green’s Chief Technology Officer, Don Stephen, said: “We have been researching several forms of hybrid power over the past twenty-four months and now have a clear strategy to develop a platform of industry leading technologies to assist ship owners achieve real fuel savings and help the shipping industry meet the carbon dioxide reductions required by the International Maritime Organization. Entering the wind propulsion sector is the first step.”

Pacific Green is already one of the world’s leading exhaust gas scrubber suppliers, with a client network already benefitting significantly in the reduction of marine emissions. The division’s focus has now turned its attention to fuel efficiency and the reduction of carbon emissions with its entry into commercial wind propulsion as its first step.

Pacific Green CEO Scott Poulter said: “Entering the commercial wind propulsion sector is the next platform for Pacific Green to develop this division to become the world’s leading Marine Environmental Technologies companies. If we could repeat the rapid growth we experienced in the Exhaust Gas Scrubbing sector then we will dominate in the wind propulsion sector within a very short time.”

Scott added: “Entering this sector allows us to really leverage our marine division’s existing client relations who have over 500 ships, our technical capabilities along with being unique in scaling capacity with our manufacturing partnership with PowerChina and extensive shipyard relationships. We will be ultra-competitive in delivering in the wind propulsion sector and want to make some big steps very quickly to establish ourselves.”

Don added: “I am sure Pacific Green will be making numerous announcements on its wind propulsion technology development in the months to come.”

The United Nations International Maritime Organization Agency (IMO) has set an industry goal of reducing every ship’s carbon intensity – the emissions by weight per distance travelled – by at least 40% by 2030, compared to 2008 levels.

In June 2021, it introduced new rules for compliance with specific measures of efficiency and carbon intensity that ships will need to meet by 2023. The IMO has also set a goal of cutting total greenhouse gas emissions from the shipping industry by 50% by 2050.

These targets could soon get even more stringent since the emissions rules are due for revision in 2023. Roel Hoenders, head of the IMO’s air pollution and energy efficiency section, has said the revision will “very likely contain more ambitious and more far-reaching goals.”

About Pacific Green Technologies, Inc.

Pacific Green Technologies Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company offers Battery Energy Storage System (BESS), CSP and PV energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit PGTK’s website: www.pacificgreen-group.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, entering into the commercial wind propulsion sector, the timing of the development of such sector, Pacific Green being able to dominate in the wind propulsion sector, and its ability to be competitive in the wind propulsion sector.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Pacific Green Confirms Its Intent to Acquire Tupa Energy Limited Owned Sheaf Energy Limited, a 249 MW Battery Energy Storage Development in the UK

Pacific Green Energy Storage (UK) Limited (PGES(UK)), a wholly-owned subsidiary of Pacific Green Technologies, Inc. (the Company or PGTK, (OTCQB:PGTK)), announces that under the terms of its framework agreement (the Agreement) with Tupa Energy Limited (Tupa), it has confirmed its intent to acquire Sheaf Energy Limited (“SEL”), a Kent, England-based 249 MW battery energy storage system (“BESS”) development wholly-owned by Tupa.

Following the 99.8 MW Richborough Energy Park Limited BESS development that PGES(UK) acquired earlier this year, the 249 MW SEL BESS development is the next phase of the 1,100 MW BESS Agreement that PGES(UK) entered into with Tupa in March 2021. PGES(UK) and Tupa continue to build on the success of the initial developments, with the balance of the 750 MW expected to be operational in 2025.

PGES(UK) will continue to combine the comprehensive knowledge of the UK energy storage market and technical expertise of wholly-owned BESS design and integration specialist, Pacific Green Innoergy Technologies Limited, along with Shanghai Electric Gotion New Energy Technology Co., Limited’s (“SEG”) state-of-the-art 10 GWh per annum battery production capacity, to deliver high-quality developments at an industry-leading scale.

About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company offers Battery Energy Storage System (BESS), CSP and PV energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

About SEG
SEG is a joint-venture between Shanghai Electric Group Co., Ltd. (“Shanghai Electric”) and Guoxuan High-tech Co., Ltd., and operates among the largest and most advanced production and supply-chain management centers in the world. Shanghai Electric (SHA: 601727), which has 70,000 employees and over US$20billion in operating revenue, provides a strong industrial backing and decades of experience in power equipment manufacturing and integration.

Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green’s emission control system, potential business developments in the UK and future interest in our solar and desalination technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the framework agreement with SEG, delivering the projects with Tupa and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Pacific Green Signs Offer for Debt Finance for Its First Battery Energy Storage Development at Richborough Energy Park

Pacific Green Technologies, Inc. (the Company or PGTK, (OTCQB: PGTK)) announces that it has signed an offer letter from Close Leasing Limited (CLL), wherein CLL will provide debt financing of GBP23 million (US$31.6 million) for the construction of a 99.8 MW battery energy storage system (“BESS”) the Company is developing in Kent, England.

The BESS development, which is located at Richborough Energy Park, will be developed through the Company’s wholly-owned subsidiary, Pacific Green Energy Storage (UK) Limited. The financing, which is subject to final due diligence, is expected to reach Financial Close in Q4 2021. Energization of the energy storage park is on schedule for 2022.

Scott Poulter, PGTK’s Chief Executive commented: “We are very proud to be working with Close Brothers, following numerous offers from very competitive financiers, our decision was based upon the combination of Close Brothers’ flexibility along with their previous experience financing renewable energy projects of a similar size. We are excited to work with Close Brothers on the first project in our pipeline of 1.1GW and look forward to progressing this initial project into the construction phase and operation.”

James Sutcliffe, Managing Director of Close Brothers Leasing’s Energy team, commented: “The battery storage sector is experiencing significant growth and is playing an important part in our strategy of expanding our renewable energy portfolio. We are delighted to be involved in this project and are really looking forward to working with Pacific Green through the various phases to completion.”

CLL is a market leader in providing specialist, structured finance solutions ranging in value from GBP250,000 to GBP50 million, particularly working with select, strategic partners to offer finance solutions in the renewable energy sector. CLL is part of Close Brothers Group plc.(“CBG”).

About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company offers Battery Energy Storage System (BESS), CSP and PV energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

About CBG
CBG is a leading UK merchant banking group, providing lending, deposit taking, wealth management services and securities trading. CBG employs over 3,700 people, principally in the UK. CBG is listed on the London Stock Exchange (LON: CBG) and is a member of the FTSE 250.

Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green’s emission control system, potential business developments in the UK and future interest in our solar and desalination technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the financing offer from CLL, and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Pacific Green Appoints Peter Rossbach as Independent Director

Pacific Green Technologies, Inc. (OTCQB:PGTK)) announces the appointment of Peter Rossbach as Non-Executive and Independent Director, effective February 1st, 2021.

Peter Rossbach has worked in the renewable power sector since 1985 starting with Standard & Poor rating renewable projects bonds in California.

Peter moved to Catalyst Energy, a developer of hydro and cogeneration projects before becoming VP of Project Finance for Mitsui Bank, specializing in structured debt for US based wind and cogeneration projects.

Peter has made dozens of investments in hydro, wind and solar projects in over twelve countries creating a portfolio of in excess of 1GW. Currently Peter serves as Senior Advisor and sits on the investment committee for a number of Impax’s private equity funds and is an Independent Director of UGE International Ltd, a TSX-listed PV solar company.

Peter has a degree in Government from Harvard College and a Masters’ degree in Public Policy from Harvard’s Kennedy School of Government.

Scott Poulter, PGTK’s Chief Executive commented: “Peter’s vast international experience and knowledge of the industry, along with his investment background, brings great strength to our business. His input will be hugely significant as we develop Pacific Green, into an industry leading renewable technology group globally.”

About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company offers BESS and Concentrated Solar Power (CSP) energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green’s technologies, potential business developments around the world and future interest in our green technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Pacific Green Signs Battery Energy Storage System Strategic Manufacturing Framework Memorandum of Understanding with Shanghai Electric Gotion New Energy Technology CO., LTD.

Pacific Green Technologies, Inc. (the “Company” or “PGTK,” (OTCQB:PGTK)) announces the signing of a Battery Energy Storage System Strategic Manufacturing Framework Agreement Memorandum of Understanding (the “Framework Agreement”) with Shanghai Electric Gotion New Energy Technology Co., Ltd. (“SEG”).

Under the terms of the Framework Agreement, the parties will work together towards the development of various lithium-ion Battery Energy Storage System (BESS) projects around the world. PGTK, through its wholly-owned subsidiary, Pacific Green Energy Storage Technologies, Inc., will manage each project’s overall execution, including system design, integration, and commercial optimization, while SEG will produce the battery technology as the equipment manufacturer.

Scott Poulter, PGTK’s Chief Executive, commented: “The BESS sector around the world is developing at an exponential rate and with the signing of this Framework Agreement, we have now combined PGTK’s existing capabilities following the acquisition of UK BESS technology company Innoergy Limited with SEG’s capacity, technology, and expertise, to ensure we can meet the demand in this rapidly expanding sector.”

James Gratton, Pacific Green Energy Storage Technologies, Inc.’s Technical Director, noted: “SEG has established itself as one of the largest and most reputable BESS technology integrators in the world, and with multiple certified production centers, we are confident that they have the capacity necessary to meet the needs of our project pipeline.”

Gareth Dauley, Vice President of Pacific Green Energy Storage Technologies, Inc., commented: “Lithium-ion batteries, which we have identified as best suited for our projects due to their high-energy density, safety track-record, and long service life, are the cornerstone of state-of-the-art BESS developments. This Framework Agreement will combine our existing experience and industry-knowledge with SEG’s long track-record of lithium-ion battery production to ensure commercially optimized and technologically bankable projects.”

SEG, which is a joint-venture between Shanghai Electric Group Co., Ltd. (“Shanghai Electric”) and Guoxuan High-tech Co., Ltd., operates among the largest and most advanced production and supply-chain management centers in the world. Shanghai Electric (SHA: 601727), which has 70,000 employees and over US$20b in operating revenue, provides a strong industrial backing and decades of experience in power equipment manufacturing and integration.

About Pacific Green Technologies, Inc.
Pacific Green Technologies, Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company offers BESS and Concentrated Solar Power (CSP) energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

About Shanghai Electric Gotion New Energy Technology Co., Ltd.
Shanghai Electric Gotion New Energy Technology Co., Ltd. is a joint-venture between Shanghai Electric Group Co., Ltd. and Guoxuan High-tech Co., Ltd. With multiple production facilities and a long-established history in technology manufacturing and supply-chain management, SEG is well-positioned to provide lithium-ion BESS technology around the world.

Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding PGTK’s technologies, potential business developments around the world, and future interest in our green technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the Framework Agreement with SEG, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

CONTACT:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Pacific Green Builds Out Senior Management Team Appointing Xavier Lara As Senior Vice President, Concentrated Solar Power

Pacific Green Technologies, Inc. (the “Company” or “PGTK”, (OTCQB:PGTK)) announces the appointment of Xavier Lara as Senior Vice President, Concentrated Solar Power, effective October 26, 2020.

Xavier is one of the pre-eminent experts in the Concentrated Solar Power (CSP) sector, with over twenty-five years’ experience, including various senior-level roles for AELIUS Engineers and Consultants, Empresarios Agrupados, ACWA Power and NextEra Energy. Xavier joins Pacific Green having recently served as Project Director on billion dollar Cleantech developments around the world.

Scott Poulter, PGTK’s Chief Executive commented: “As we continue to build on our existing CSP capabilities, we believe Xavier’s unparalleled sales and operations expertise will allow the company to take another step in becoming an industry-leader in this flourishing sector. Xavier brings an exceptional skill set and decades of on-the-ground experience leading flagship CSP projects. Xavier will oversee our rapidly growing CSP business stream and we enthusiastically welcome him to our team.”

Xavier Lara, Senior Vice President, Concentrated Solar Power, commented: “Following the acquisition of ENGIN, Pacific Green has positioned itself for success in the CSP space and I look forward to being part of the team to help Pacific Green continue its path to become a world leader in the design and manufacture of CSP systems.”

Scott added: “Pacific Green and PowerChina have combined to form an engineering and manufacturing powerhouse, but we believe Xavier’s addition to our existing design resources in ENGIN will be instrumental in helping us achieve our goal to be a world leader in this important new sector.”

Xavier holds an MEng in Industrial Engineering (Mechanical), an MSc in HSE (Occupational Risk Prevention) and a BSc Hons in Astronomy (Solar Astrophysics).

About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company’s strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting-edge technologies designed to meet increasingly stringent environmental standards. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

About POWERCHINA SPEM Co. Ltd
POWERCHINA SPEM is a subsidiary of POWERCHINA, the largest power equipment manufacturer in the PRC. With abundant resources, expertise, strong manufacturing capacity, domestic sales channels and rich experience, POWERCHINA SPEM is in a strong position to deploy PGTK technology throughout the PRC.

Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green’s technologies, potential business developments around the world and future interest in our green technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the JV with POWERCHINA SPEM, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Pacific Green Acquires Battery Energy Storage System Design Company Innoergy Limited

Pacific Green Technologies, Inc. (the “Company” or “PGTK”, (OTCQB:PGTK)) announces that it has acquired Innoergy Limited, a designer of battery energy storage systems whose clients include Osaka Gas Co. Ltd, in Japan, and Limejump Limited (“Limejump”), a subsidiary of Royal Dutch Shell plc. The acquisition marks PGTK’s entry into the battery energy storage system market in conjunction with PGTK’s joint venture partner, PowerChina SPEM.

Innoergy was founded in April 2019 by James Gratton and Gareth Dauley with supplemental seed capital provided by Ning Zhang, a co-founder of Limejump, the world’s first developer of virtual power platforms optimizing energy generation and storage. James Gratton was formerly Head of Engineering at Limejump and Gareth served as a Director of Limejump for two years having formerly worked at Honeywell on its battery energy storage systems and virtual power platforms in the UK. Innoergy is currently in negotiations to design and develop over 450MW of battery energy storage systems in Europe.

Scott Poulter, PGTK’s Chief Executive commented: “We believe that the battery energy storage system market has tremendous potential for growth as renewable energy continues to gain momentum. The team at Innoergy provide us with the expertise to build our energy storage platform in conjunction with PowerChina, and together we have the manufacturing capacity to rival the global leaders in the market as designers and manufacturers.”

James Gratton, co-founder of Innoergy commented: “After my time as Head of Engineering at Limejump, we are excited to be part of a new chapter in the development of battery energy storage systems. With the support of Pacific Green and their relationship with PowerChina we believe that we are now in an excellent position to become market leaders in the design and manufacture of battery energy storage systems.”

Gareth Dauley, co-founder of Innoergy commented: “We are delighted to be joining Pacific Green. Having spent a decade working in the developmental years of this exciting new industry with Honeywell and Limejump, with our combined capabilities we expect to witness the rapid acceleration of Pacific Green’s entry into the market due to its unrivalled connections with China’s leading energy storage technology, software and hardware companies.”

PGTK has continued to expand its technologies through its acquisition of ENGIN in December 2019 so that its portfolio now includes Concentrated Solar Power, Flue Gas Emmission Control Systems, Water Desalination and Battery Energy Storage Systems. PGTK continues to actively seek complementary technologies to add to its Cleantech portfolio.

Scott added: “Pacific Green is now targeting specific industries and sectors where its technology enhances the growing industry of Cleantech solutions. As well as having the capability and resources to carry out whole large scale projects, Pacific Green will continue to develop and produce new cutting edge products as we expand into new sectors.”

PGTK’s joint venture with PowerChina SPEM, one of the world’s largest engineering, procurement and construction companies with annual revenues of around $50 billion, combines elite technical expertise with unrivalled production capabilities in China ensuring PGTK can scale efficiently in each industry sector.

PGTK will continue to adhere to a high-quality development strategy, implement improved processes in all disciplines, and provide state of the art professional and efficient products and services for its customers.

About Pacific Green Technologies, Inc.
Pacific Green Technologies Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company’s strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting edge technologies designed to meet increasingly stringent environmental standards. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

About POWERCHINA SPEM Co. Ltd
POWERCHINA SPEM is a subsidiary of POWERCHINA, the largest power equipment manufacturer in the PRC. With abundant resources, expertise, strong manufacturing capacity, domestic sales channels and rich experience, POWERCHINA SPEM is in a strong position to deploy PGTK technology throughout the PRC.

Notice Regarding Forward-Looking Statements:
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green’s technologies, potential business developments around the world and future interest in our green technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the JV with POWERCHINA SPEM, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Pacific Green Marine Technologies, Inc. Installs its 100th Envi-Marine(TM) Exhaust Gas Cleaning System

Pacific Green Technologies, Inc. (the “Company” or “PGTK”, (OTCQB:PGTK) announces that it has successfully installed its 100th ENVI-Marine(TM) exhaust gas cleaning system.

PGTK’s industry leading ENVI-Marine(TM) exhaust gas cleaning systems have now been installed on more than 40 different ship types, including containers, bulk carriers and oil tankers. The installations have been completed predominantly in China shipyards in conjunction with PGTK’s joint venture partner, PowerChina SPEM.

Scott Poulter, PGTK’s Chief Executive commented: “We are very proud to have reached this milestone in our marine division. Although the industry has been in turmoil so far in 2020 with oil price pressure and the consumer demand effects of Covid-19, we have started to see positive signs with a significant increase in enquiries over the past few months for our ENVI-Marine(TM) System.”

PGTK has continued to expand its technologies through its acquisition of ENGIN in December 2019 so that its portfolio now includes Concentrated Solar Power (CSP) and Water Desalination. PGTK continues to actively seek complementary technologies to add to its Cleantech portfolio.

Scott added: “Pacific Green is now targeting specific industries and sectors where its technology enhances the growing trend for Cleantech solutions. As well as having the capability and resources to carry out whole large scale projects, Pacific Green will continue to develop and produce new cutting edge products as we expand into new areas.”

PGTK’s joint venture with PowerChina SPEM, one of the world’s largest engineering, procurement and construction companies with annual revenues of around $50 billion, combines elite technical expertise with unrivalled production capabilities in China ensuring PGTK can scale efficiently in each industry sector.

PGTK will continue to adhere to a high-quality development strategy, implement improved processes in all disciplines, and provide state of the art professional and efficient products and services for its customers.

About Pacific Green Technologies, Inc.

Pacific Green Technologies Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company’s strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting edge technologies designed to meet increasingly stringent environmental standards. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

About POWERCHINA SPEM Co. Ltd

POWERCHINA SPEM is a subsidiary of POWERCHINA, the largest power equipment manufacturer in the PRC. With abundant resources, expertise, strong manufacturing capacity, domestic sales channels and rich experience, POWERCHINA SPEM is in a strong position to deploy PGTK technology throughout the PRC.

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green’s emission control system, potential business developments in India and future interest in our solar and desalination technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the JV with POWERCHINA SPEM, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.

Pacific Green Provides Business Activities Update

Pacific Green Technologies, Inc. (the “Company” or “PGTK”) (OTCQB:PGTK), developer of the ENVI-Marine(TM) emission control system (the “System”), today provides an update on the impact of the Pandemic on its business activities.

Since entering the marine sector, the Company has delivered 86 ENVI-Marine(TM) Systems to its customers, with another 56 ENVI-Marine(TM) Systems contracted to be delivered in 2020 and 2021. Travel restrictions resulting from the Pandemic have impeded the Company’s ability to enter and exit shipyards. The Company has postponed 32 ENVI-Marine(TM) System installations to 2021 to accommodate client and supplier needs but has received no ENVI-Marine System cancellations as a result of the Pandemic.

The Company can report the successful registration in China of its joint venture company with partner PowerChina SPEM. The joint venture, along with the ongoing integration of Shanghai Engin Digital Technology Co. Ltd., (“Engin”), which was acquired by PGTK in December 2019, has positioned the Company to take advantage of the rapidly growing renewables market around the world in concentrated solar power (CSP), desalination and waste-to-energy (WtE).

The Company is also pleased to announce that it has made significant progress in developing its business relationships in India. By 2022, an additional 175 GW of electrical capacity in India is forecasted to require Flue Gas Desulphurization (FGD) (source: Centre for Science and Environment, India), which PGTK’s efficient ENVI-Clean(TM) Systems are well suited to deliver.

The Company has continued its obligation to maintain shareholder value on behalf of its shareholders. The Company has embarked on an aggressive cost-cutting campaign and restructured its operations to maintain its strong financial position despite the global economic strain and uncertainty created by the Pandemic.

Scott Poulter, Chief Executive, said: “We have been working hard with our clients and suppliers to ease the collective strain that the Pandemic has imposed on our business and the business of our partners and stakeholders.

We are pleased to see increasing interest in our newly acquired solar and desalination technologies across a number of different regions. These opportunities will complement our highly-efficient emission control technologies, which have allowed us to target the massive FGD and WtE markets.

The Pandemic has had a devastating effect on lives and livelihoods. Hopefully, the world will take a new look at how we live and how we treat our environment as the two should go hand in hand.”

About Pacific Green Technologies, Inc.

Pacific Green Technologies, Inc. (OTCQB:PGTK) is focused on addressing the world’s need for cleaner and more sustainable energy. The company’s strategy is to build through organic development and acquisition, a portfolio of patented competitive cutting-edge technologies designed to meet the growing market for renewables and increasingly stringent environmental standards. For more information, visit PGTK’s website: www.pacificgreentechnologies.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Pacific Green’s emission control system, potential business developments in India and future interest in our solar and desalination technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the JV with POWERCHINA SPEM, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

CONTACT:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659

SOURCE: Pacific Green Technologies, Inc.