- Oops!Something went wrong.Please try again later.
ST. PETERSBURG, Fla., Dec. 15, 2021 (GLOBE NEWSWIRE) -- Global Technologies, Ltd (OTC Pink: GTLL) (the “Company”), a holding corporation, which, through its subsidiaries, has operations engaged in the online sales of CBD and hemp-related products, the acquisition of intellectual property in the safety and security space, and as a portal for entrepreneurs to provide immediate access to live shopping, e-commerce, distribution and logistics, is pleased to provide shareholders an update on Tersus Power’s multiple revenue channels.
Tersus Power will receive revenue through multiple channels in the hydrogen industry: engineering consulting, sale of the proprietary Modular Hydrogen Fueling Station, sale of standalone components inherit within the Hydrogen Fueling Station and servicing of the Hydrogen Fueling Stations.
In the company’s first year of business, Tersus Power has generated $1,775,000 from engineering consulting contracts. The company has some of the most talented and sought-after hydrogen engineers in the industry. These engineers are in high demand and Tersus Power will continue to provide hydrogen engineering services to the industry.
Tersus Power anticipates receiving most of its revenue through the sale and maintenance of the newly designed proprietary steam methane reformer (SMR) also known as the Modular Hydrogen Fueling Station. The Company estimates that the sale price for the Hydrogen Fueling Station will be $6.5 million per unit. At present, there are 48 hydrogen refueling stations in California. The California Fuel Cell Partnership says the goal is 200 hydrogen stations by 2025 and 1,000 stations in the state are “envisioned” by 2030. Hydrogen demand had been steadily creeping toward 80 million tons/year, has grown more than threefold since 1975 and continues to rise as global demand increases.
Tersus Power will receive additional revenue by selling different components of the Modular Hydrogen Fueling Station to the hydrogen industry. For example, selling Tersus Power’s proprietary hydrogen storage system as a standalone product. Hydrogen needs to be compressed and stored in tanks for practical handling purposes, and then used as needed. Fuel-cell powered cars run on compressed hydrogen stored in highly pressurized large containers. Processing and storing hydrogen require technology that few companies have direct access to. Tersus Power has developed a hydrogen storage system that is sold with the Hydrogen Fueling Station. With the growing demand for hydrogen fuel, Tersus Power anticipates strong interest in its new storage system.
Michael Rosen, Chief Executive Officer of Tersus Power, stated “There are multiple revenue sources for Tersus Power, of course our main focus will be selling the company’s flagship product the Modular Hydrogen Fueling Station. However, there is a rapidly developing global marketplace for hydrogen. Nineteen governments around the world have “hydrogen strategies” and those countries will be in need for hydrogen storage systems and other components unique to our industry that we can provide.”
Jimmy Wayne Anderson, President of Global Technologies, Ltd, stated “We are pleased to see the progress that Tersus Power is showing in the engineering and development of its Hydrogen Fueling Station.” Mr. Anderson continued, “We anticipate updating shareholders on the final terms of the transaction in the coming weeks as both companies hit certain milestones. This is an exciting time for the Global shareholders.”
About Global Technologies, Ltd:
Global Technologies, Ltd, based in St. Petersburg, Florida, is a holding corporation, which, through its subsidiaries, has operations engaged in the online sales of CBD and hemp-related products, the acquisition of intellectual property in the safety and security space, and as a portal for entrepreneurs to provide immediate access to live shopping, e-commerce, product placement in brick-and-mortar retail outlets and logistics. For further information, please visit the Company’s website at www.globaltechnologiesltd.info.
About Tersus Power, Inc.:
Tersus Power Inc. was founded in 2021 as a contract manufacturer that will build and deliver Modular Hydrogen Fueling stations across the U.S and Canada. Tersus Power is located in Nevada and is in the process of commissioning a facility to manufacture the initial prototypes at an existing facility in the Pittsburgh, Pennsylvania metroplex and then ramp-up capacity to manufacture 10 modular fueling stations per month.
Tersus Power's Next Generation Modular Hydrogen Fueling Station is based on the functionality of a newly designed steam methane reformer (SMR), with unique components and a high-capacity daily hydrogen output. Tersus Power’s next generation Modular Hydrogen Fueling Station will generate up to 1,250 kilograms of pure hydrogen daily. For further information, please visit the Company’s website at www.tersuspower.com.
Forward-Looking Statements and Disclaimer
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company's future revenues or results of operations.
Global Technologies, Ltd