Miami, Florida, November 6, 2019 – Global PoleTrusion Group Corp. (OTC PINK: GPGC)
and their partner, TransPacific Energy (TPE), are currently in negotiations with NuCloud International Energy Development Inc. (NuCloud) to set up a Power Service Agreement (PSA) for their 30MW renewable energy project in China.
Under the terms of the PSA, the energy will be sold to the Nantong Data Centre in China, with whom NuCloud has an exclusive agreement, at a rate of $0.14/kWh over 20 years. This project, which will have a $30 million USD infrastructure, will provide excellent returns for shareholders.
GPGC, TPE and NuCloud will build the 30MW heat-to-power gas and steam turbine power plant in Nantong, China. The plant will utilize TPE’s proprietary modular Organic Rankin Cycle (ORC) system to efficiently transform waste heat from energy production and industrial processes to electrical energy. The project has a potential for future expansion up to 900MW.
“This is an enormous opportunity for us to enter the Chinese market and provide good long-term returns for our shareholders,” stated Ramiro Guerrero, President and CEO of GPGC.
A final agreement is expected to be signed in December 2019.
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.
PoleTrusion Canada provides engineering services for GPGC. They create the latest state-of-the-art composite structures, custom-designed based on the needs of their clients. The company is part of the NSERC Industrial Research Chair in Innovative Fibre Reinforced Polymer (FRP) Composite Materials for Infrastructure. The chairholder, Dr. Benmokrane, is on the technical advisory board at GPGC.
To learn more about GPGC, visit www.globalpoletrusiongroup.com.
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.