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.
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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.
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SOURCE: TGI Solar Power Group, Inc.