ACCESS Newswire
26 Mar 2020, 00:38 GMT+10
NORTH BRUNSWICK, NJ / ACCESSWIRE / March 25, 2020 / TGI SOLAR POWER GROUP INC. (OTC PINK:TSPG) ('TGI'), a diversified technology company, announced today that it has purchased an equity stake in Auxilium Energy a ReneSys Group company headquartered in Zug, Switzerland.
'We are continually looking to expand our operations in Europe. Auxilium, owns proprietary battery cell storage technology, is a great opportunity and addition to our portfolio, currently operating in the Czech Republic, to start immediate construction of a state-of-the-art battery cell manufacturing plant in the United Kingdom, with future contracts to expand into Italy, Ukraine and Germany' said Henry Val, CEO of TGI Group.
ReneSys Group is 'excited for this new venture and sees TGI Group as a strong strategic alliance for the expansion of its Auxilium Battery plants in Europe' and is 'great to see the continuous trend in the market's growth for adoption of renewable energy. Microgrids are being implemented as a flexible architecture for deploying distributed energy resources (DER's) in communities around the world and the evolvement of our company, its technologies and impact factors in the sustainable sector,' said Josue Altomonte, CEO of ReneSys Group.
As we stated previously, TGI's initial plan of Electric Vehicles assembly plant, will require financing Euro15-20MM combination of debt and equity. Financing is going to be done through wholly owned European subsidiary. Big Ben proposal calls for pre-IPO placement of €2.5MM ($2.9MM) and follow up financing in-order to prepare for becoming a publicly traded entity on the Nordic Growth Market NGM AB, MIC Code XNGM (NGM), a regulated Swedish Stock Exchange in Stockholm and subsidiary to Boerse Stuttgart (SWB) in Germany.
About Auxilium Energy: Auxilium Energy, which also operates under the name NEWCO Ion-Battery UK Ltd in the United Kingdom has its parent company headquartered in Zug, Switzerland. The organization primarily operates in the Li-ion electrode and battery cell assembly for the Energy Storage System business / industry within the Electronic & Other Electrical Equipment & Components sector. This division has been operating for 3 years. The organization will be engaged in the design and manufacturing activities at the above-mentioned facilities in Europe.
About Renesys Group: ReneSys Group is a renewable energy systems technology and asset management company employing an integrated approach to renewable energy development, grid/distribution modernization, and transactive energy management. This integrated approach is creating new and more efficient production technologies, network architectures, energy management systems and services, and community-based energy initiatives. Renesys Group and its sister companies, comprise of an end-to-end energy management software, development/production energy company and transactive energy utilizing Ai and Blockchain technologies for the optimization of energy production and consumption management system serving global markets in the renewable energy sector.
For more information, please see www.otcMarkets.com under ticker symbol 'TSPG', and visit our Facebook page https://www.facebook.com/TGIpower. To receive updates follow us on Twitter www.twitter.com/TgiPower.
About TGI Solar: TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire innovative and patented technologies, components, processes, designs and methods with commercial value that will give competitive market advantage and generate shareholder value.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission
For further info:
[email protected]
917-353-5099
SOURCE: TGI Solar Power Group, Inc.
Get a daily dose of Chicago Chronicle news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Chicago Chronicle.
More InformationLONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
(Photo credit: Kamil Krzaczynski-Imagn Images) Vladimir Guerrero Jr. had two hits and two RBIs, Davis Schneider homered and Chris...
(Photo credit: Brad Rempel-Imagn Images) Ryan Jeffers went 3-for-4 with a homer and three RBIs, and the Minnesota Twins used a six-run...
(Photo credit: Jerome Miron-Imagn Images) Earlier this month, Trackhouse Racing announced that Daniel Suarez and the organization...
(Photo credit: Michael Chow/The Republic / USA TODAY NETWORK via Imagn Images) Pondering her team's potential when it plays disciplined...
(Photo credit: Eric Bolte-Imagn Images) Inter Miami will look to continue to climb the Eastern Conference standings on Wednesday...
(Photo credit: Matt Blewett-Imagn Images) The best defensive team in the league will meet one of the hottest offenses when the Minnesota...