Vancouver, British Columbia--(Newsfile Corp. - June 27, 2023) - Tevano Systems Holdings Inc. (CSE: TEVO) (FSE: 7RBA) (OTC Pink: TEVNF) ("Tevano" or the "Company"), a technology company specializing in sustainable energy solutions, has made a strategic move to establish its presence in the United States following the signing of a Letter of Intent (LOI) with Source Energy Global. The decision comes as a response to the significant incentives and subsidies offered by the U.S. government, attracting Canadian clean tech companies and talent to relocate south of the border.
The recent CBC article titled "Giant U.S. subsidies begin luring Canadian clean tech companies and talent to move south" https://www.cbc.ca/news/canada/calgary/bakx-clean-tech-ira-ccs-1.6879129 highlights the favorable climate for clean energy investment created by the U.S. government's Inflation Reduction Act (IRA). Tevano Systems recognizes the potential growth opportunities in the U.S. market and has chosen to capitalize on the subsidies and increased activity in the clean energy sector.
"We believe that expanding to the United States is the logical step forward for Tevano Systems," said Eugene Hodgson, CFO of Tevano Systems Holdings Inc. "The U.S. government's significant incentives under the IRA have turbocharged the economics of clean energy projects, making it a highly attractive environment for our company to grow and thrive."
The partnership between Tevano Systems and Source Energy Global through the LOI demonstrates their shared commitment to driving the adoption of clean energy solutions and reducing greenhouse gas emissions. Tevano Systems' expertise in developing innovative clean tech solutions, combined with Source Energy's industry knowledge, creates a powerful synergy that will accelerate the deployment of our Direct Lithium Extraction (DLE) technologies.
Dr. Oliver Jones, Chairman and Founder of Source Energy Global, emphasized the importance of the partnership, stating, "Collaborating with Tevano Systems enables us to harness their cutting-edge clean tech solutions and drive the advancement of sustainable energy practices. Together, we will make a significant impact in reducing emissions and shaping a more sustainable future."
By relocating and partnering with Source Energy, Tevano Systems aims to leverage the vast opportunities available in the United States and contribute to the global efforts in combatting climate change. The company's move is driven by the desire to maximize its potential for growth and create a positive environmental impact in line with its national and international climate goals.
About Tevano Systems Holdings Inc.: Tevano Systems Holdings Inc. is a leading technology company specializing in renewable energy systems. With a focus on innovative solutions, Tevano Systems is dedicated to developing and commercializing cutting-edge technologies that drive sustainability and create a greener future.
About Source Energy Global: Source Energy Global is a prominent player in the energy industry, dedicated to driving innovation and sustainability. With a wealth of industry knowledge and expertise, Source Energy Global is committed to developing and deploying advanced energy solutions that meet the evolving needs of the global market and contribute to a more resilient world economy. Source Energy Global is also working with US policymakers and leaders at both the federal and state levels to develop America's Lithium Energy Security Act (LESA), in order to bring the United States towards greater resilience in energy and reduced reliance on foreign mineral supply-chains.
For more information, please visit: www.tevanosystems.com
https://sourceenergyglobal.com/
On behalf of the Board of:
TEVANO SYSTEMS HOLDING INC.
Eugene Hodgson, Chief Financial Officer
Eugeneh@tevanosystems.com
604-805-6600
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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