Bitech Technologies Signs Term Sheet for $80 Million Investment Tax Credit for Its Flagship BESS Project Page 1

Progress of 100 MW battery energy storage system project towards commercialization in Q2 2025

Newport Beach, CA, September 5, 2024 (GLOBE NEWSWIRE) — Bitech Technologies Corporation (OTCQB: BTTC), (the “Company” or “Bitech”), an independent energy provider developing large-scale battery energy storage initiatives and innovative renewable solutions, today announced that its operating subsidiary Emergen Energy, LLC has signed a non-binding term sheet for a tax credit transfer agreement with a leading renewable energy investment company for Project Redbird, Bitech’s flagship 100 Megawatt (MW) Battery Energy Storage System (“BESS”) project in Fort Bend County, Texas.

The investment firm offers innovative tax credit equity investments for affordable housing, historic renovations, renewable energy, film and other qualified projects. The firm maintains long-term relationships with institutional and individual investors, developers and lenders who participate in these federal and state programs.