Miami, Florida, June 16, 2021 – Global PoleTrusion Group Corp. (OTC PINK: GPGC) is pleased to announce its association with Progen (www.progen1.com) for the purpose of building a 30 MW thermal power plant in Los Santos, Panama. With over 35 years of experience in the industry, Progen is at the leading edge of innovative, rapid solutions for designing, packaging and constructing power plants worldwide. The plant will operate under the name “Los Santos Thermal Energy Corp.”.
GPGC will oversee the civil engineering and the transportation of produced energy using their composite poles, towers and structures.
GPGC’s Panamanian subsidiary, Los Santos Energy Corp. (LSEC), has obtained a Power Purchase Agreement (PPA) with Generacion Solar, a Panamanian solar energy provider licensed by the Panamanian government to generate and sell electricity until 2057. This new thermal energy power plant will provide them with a secondary source of energy for uninterrupted delivery when sunlight is unavailable.
“Our association with Progen will bring us new opportunities in the Thermal Energy industry. We will use this opportunity to back up our renewable energy projects which require a secondary source of energy to ensure uninterrupted service for customers,” said Ramiro Guerrero, President and CEO of GPGC.
“Progen Industries recognizes the importance of working towards the integration of renewable energy moving forward and we are very excited to be partnering with GPGC. Our companies can now combine our decades of experience in the thermal energy industry with the knowledge and experience of solar development of GPGC in the Panama market and beyond throughout Latin America,” said Robert Cusmano, Senior V.P. of Progen Industries.
About Global PoleTrusion Group Corp.
GPGC is an engineering firm that fulfills the needs of telecommunications and utility companies, providing composite poles, towers and renewable energy solutions. Their composite structures outperform their steel, wood and concrete counterparts as they are stronger, lighter, easier to install and environmentally safe. With its advanced engineering and manufacturing capabilities, GPGC is at the forefront of providing creative and effective solutions to address the needs of utility companies around the world
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 press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.