Our teams in Canada, Panama and Africa have been working diligently throughout the pandemic to ensure that GPGC is ready for the recovery and in a position to hit the ground running. The following is a brief overview of where we are today.
We have organized both our advisory and audit committees, appointing individuals who will bring valuable experience and diverse points of view to the company. They will work in concert with the existing management team to grow the company and improve profitability.
Energy Generation: We have acquired solar energy power purchase agreements in Panama and Colombia. We are also working on acquiring more solar energy projects in Senegal and Kenya. The biomass energy project in Panama that was previously announced will not be continued due to the lack of availability of a reliable fuel source.
Composite Utility Poles: We have updated our homologation with the Kenya Bureau of Standards (KEBS), which allows us to sell our composite utility poles throughout the countries of the East African Economic Community. We are currently in the process of finalizing the agreements with our clients and preparing for the deployment of a plant to fabricate our poles. We have also started the approval process for homologation in West Africa and have begun discussions with utility companies in Senegal for new projects to come in the future.
We have signed agreements for investments in our solar projects in Panama and Colombia, and our operations financing has been approved. More information on the investments will be made public in the coming months.
Starting in September 2022, The GPGC team will target its business development efforts in South America and Central America, with a special focus on Colombia and Brazil. We plan to build a plant in Panama to fabricate our composite utility poles in order to serve this market. In the last quarter of 2023, we will develop the market in the Eastern United States and three Canadian provinces (Quebec, Ontario and British Columbia). The GPGC team is currently in the process of finalizing their move to be listed OTCQB® Venture Market
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.