Energy Plug Technologies (TSE:PLUG) has released an update.
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Energy Plug Technologies and the Malahat Nation have initiated the construction of Canada’s first Indigenous-led gigafactory, set to produce energy storage systems for a wide range of markets in North America. The facility represents a $75 million collaboration among various stakeholders, aiming to enhance grid stability and resilience with a production target of 1 gigawatt-hour per year. The gigafactory is expected to complete by the end of 2025, marking a significant milestone in Indigenous partnerships and energy innovation.
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