Bitech Technologies Corporation announced a binding Letter of Agreement (LOA) for a business combination with Bridgelink Development, LLC, together with the successful pre-negotiated financing of a significant investment amount toward a total 5.8 GW pipeline of utility power, procurement of key resources, and the establishment of a joint venture with an undisclosed larger infrastructure group. These strategic initiatives between Bitech and Bridgelink underscore joint force commitment to advancing BLD's 3.840 gigawatts (GW) of solar projects and 1.965 GW of Battery Energy Storage Systems (BESS) projects in the United States including Texas, Arizona, and Louisiana. The pre-negotiated financing, procurement efforts, and joint venture partnership are pivotal steps in accelerating the development and deployment of sustainable energy solutions.

The company, Bitech and Bridgelink, together, plan to continue to progress development of the projects by utilizing a Share Subscription Agreement are finalizing for up to $250 Million, committed Letter of Intent for one of late-stage BESS projects near Houston, TX for up to $100 Million, as well as securing the sale of the Incentive Tax Credits (ITC). The Business Combination calls for a capital infusion of not less than a $50 Million into the newly combined entity upon closing this transaction. Upon consummation of the Business Combination, the Company shall consist of two divisions or operational units: (1) a division that will pursue, execute, and/or implement the Development Projects (the "BESS and Solar Division"); and (2) a division that will pursue the technology solutions and acquisition business (the "Technology Solutions and Acquisition Division").

The Business Combination is expected to create new opportunities for employees as the combined expertise of Bridgelink and Bitech to accelerate project development, ultimately leading to the Commercial Operation dates (COD) of the solar and BESS projects. The LOA is a mutual commitment for a business combination (the "Business Combination") between Bitech and Member (defined as BLD), where Member shall cause BLD to (i) transfer BLD's assets and development service agreements (collectively, "Development Projects") consisting of (a) the BESS Development Projects and (b) the Solar Development Projects, into a newly created entity ("New Entity" or "Target") at or prior to the closing date and (ii) the owner or owners of Target shall exchange one hundred% of the issued and outstanding units of Target, for an equity conversion of equivalent $50 Million in Bitech's Common Stock (the "Exchange Shares") such that Target will become a wholly owned subsidiary of Bitech upon the closing of the transaction. The number of Exchange Shares to be issued to Target represents approximately 31.8% of the issued and outstanding shares of Target represents approximately 31.8%.