Mr. Brian Stecyk reports
STINA RESOURCES LTD. ANNOUNCES STRATEGIC INVESTMENT IN BRAGGAWATT USA FOR DISTRIBUTED ENERGY SOLUTIONS TO EMPOWER EFFICIENT CELLCUBE ADOPTION FOR ITS CUSTOMERS
Stina Resources Ltd. has made a $1.95-million (U.S.) investment in Braggawatt Energy Inc. Braggawatt provides financing through an on-line platform that allows corporations and not-for-profit organizations to effectively adopt cost-saving on-site energy solutions.
This investment will allow Stina and its wholly owned subsidiary, Enerox GmbH, to capitalize on quickly expanding market opportunities for enabling enterprise customers' effective adoption of cost-saving on-site energy solutions.
Enerox is one of the world's first and largest researchers, developers, manufacturers and distributors of vanadium flow batteries. As an industry leader in the energy storage sector, it has installed CellCube vanadium flow batteries at over 100 sites around the world.
As energy storage deployments continue to rapidly increase globally, Stina is committed to making strategic investments to further its commercial advantages as a global, integrated energy storage company for both customer-sided and utility-scale energy storage applications.
"The CellCube is globally recognized as a commercially superior energy storage solution and we are excited to be working closely with the team at Stina/Enerox to help remove many of the perceived project risks through custom financing products. Our on-line process and growing network of installation partners will also help remove transactional soft costs, which are often key factors in preventing distributed energy storage projects from moving forward," said Oleg Popovsky, Braggawatt's chief customer officer.
"We are transforming how distributed energy projects are originated, underwritten, financed and implemented by empowering systems integrators, end-customers and asset investors as well as now product manufacturers to collaborate via our on-line platform," added Trey Ramsey, Braggawatt's chief executive officer.
"Our investment in Braggawatt as an innovative fintech company for distributed energy solutions complements our vision for Stina to be a fully integrated energy storage company. With our end-to-end business approach, we are bringing about the next evolution in the way energy storage will be integrated in demand-side and distributed generation power infrastructure alike," says Brian Stecyk, president and chief executive officer of Stina.
"Stina is very pleased to invest in Braggawatt. Both companies will work together to develop unique finance products for our CellCube energy storage solutions. Our working relationship will help accelerate the adoption of high-quality energy storage systems across many markets where enterprise and independent power generation customers can benefit from demand response, microgrid and grid ancillary/capacity applications to secure energy cost savings and pursue new revenue opportunities," commented Stefan Schauss, president and chief executive officer of Enerox.
About Stina Resources Inc.
Stina's acquisition of the assets of Gildemeister Energy Storage GmbH has transformed Stina and its wholly owned subsidiary, Enerox, into a leading integrated resource and energy storage company. The investment into Braggawatt Energy will bring innovative financing products as well as an expanding partner base to enhance Enerox's go-to-market efficiency when serving enterprise customers for both stand-alone energy storage projects as well as projects where energy storage enhances the value proposition from renewable energy generation.
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