Mr. Eugene Hodgson reports

TEVANO SYSTEMS HOLDINGS INC. EXPANDS TO THE US, PARTNERING WITH SOURCE ENERGY GLOBAL IN RESPONSE TO GIANT U.S. SUBSIDIES

Tevano Systems Holdings Inc. has made a strategic move to establish its presence in the United States following the signing of a letter of intent (LOI) with Source Energy Global. The decision comes as a response to the significant incentives and subsidies offered by the U.S. government, attracting Canadian clean tech companies and talent to relocate south of the border.

The recent CBC article titled "Giant U.S. subsidies begin luring Canadian clean tech companies and talent to move south" highlights the favourable climate for clean energy investment created by the U.S. government's Inflation Reduction Act (IRA). Tevano Systems recognizes the potential growth opportunities in the U.S. market and has chosen to capitalize on the subsidies and increased activity in the clean energy sector.

"We believe that expanding to the United States is the logical step forward for Tevano Systems," said Eugene Hodgson, chief financial officer of Tevano Systems Holdings. "The U.S. government's significant incentives under the IRA have turbocharged the economics of clean energy projects, making it a highly attractive environment for our company to grow and thrive."

The partnership between Tevano Systems and Source Energy Global through the LOI demonstrates their shared commitment to driving the adoption of clean energy solutions and reducing greenhouse gas emissions. Tevano Systems' expertise in developing innovative clean tech solutions, combined with Source Energy's industry knowledge, creates a powerful synergy that will accelerate the deployment of Tevano's direct lithium extraction (DLE) technologies.

Dr. Oliver Jones, chairman and founder of Source Energy Global, emphasized the importance of the partnership, stating: "Collaborating with Tevano Systems enables us to harness their cutting-edge clean tech solutions and drive the advancement of sustainable energy practices. Together, we will make a significant impact in reducing emissions and shaping a more sustainable future."

By relocating and partnering with Source Energy, Tevano Systems aims to leverage the vast opportunities available in the United States and contribute to the global efforts in combatting climate change. The company's move is driven by the desire to maximize its potential for growth and create a positive environmental impact in line with its national and international climate goals.

About Tevano Systems Holdings Inc.

Tevano Systems Holdings is a leading technology company specializing in renewable energy systems. With a focus on innovative solutions, Tevano Systems is dedicated to developing and commercializing cutting-edge technologies that drive sustainability and create a greener future.