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Home Commodities

Global Technologies, Ltd. (OTC Pink: GTLL) Enters Into LOI to Acquire Hydrogen Fueling Company, Tersus Power

by admin

November 17, 2021

in Commodities, Technology

Global Technologies OTC Pink GTLL LOI Tersus Power Hydrogen Fuel Spotlight Growth

Global Technologies, Ltd. (OTC Pink: GTLL) is engaged as a diversified holding company based out of Florida. The company’s primary operations involve online sales and marketing of CBD and hemp-related products, e-commerce & brick and mortar sales consulting and more. Shares of the diversified holding company are surging 79% through afternoon trading on Wednesday, November 17, 2021. Over the past thirty days, Global Technologies has seen average daily volume of 87.19 million shares. However, volume of 627.64 million shares or dollar volume of around $2.13 million, has already exchanged hands through afternoon trading Wednesday.

Shares of Global Technologies are soaring after the company announced that it has entered into a letter of intent to acquire Tersus Power, a company focused on the development and deployment of hydrogen fueling stations. Tersus Power’s modular prefabricated fueling stations are easy to produce on a large scale and can be quickly shipped to specific locations for refueling purposes. Each fueling station undergoes rigorous testing at the Tersus Power manufacturing facility to ensure each platform is properly assembled.

Tersus Power has generated revenues of over $2 million thus far into 2021, thanks to engineering service contracts within the hydrogen industry. The company is also debt-free and maintains audited financials from an approved PCAOB accounting firm.

With the passing of President Biden’s $1 trillion infrastructure bill, $9.5 billion has been earmarked for investment into hydrogen fueling and related infrastructure. Management says they will provide additional deals of the transaction upon execution of definitive agreements. Acquisition estimated to close sometime during the first quarter of 2022.

Michael Rosen, CEO and president of Tersus Power, stated, “We are pleased to be going public at this exciting time in the alternative energy sector. Green hydrogen is a major impact player in the world’s drive to combat climate change. Tersus Power is at the forefront of this multibillion-dollar movement with its modular hydrogen fueling station design and scaling ability to meet a global demand for green energy.”

Disclosure: Neither Spotlight Growth nor its officers have any position or relationship with any companies mentioned in this article. No payment was made to create this article. This article should not be taken as a solicitation or recommendation to buy or sell any securities. Please conduct your own research and consult your financial advisor to determine your risk tolerance and investment path. We are not licensed brokers or investment advisors.