Tersus Power to go public via reverse merger transaction

ST. PETERSBURG, Fla., Nov. 17, 2021 (GLOBE NEWSWIRE) — via InvestorWire — 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 inform shareholders the Company has entered into a Letter of Intent to acquire Tersus Power, Inc.

Tersus Power’s sole objective is to design a safe, adaptable and affordable hydrogen fueling station that allows for rapid development and deployment of hydrogen fueling infrastructure while minimizing the risk to investors. The Company’s modular prefabricated fueling stations could be produced on a very large scale and available immediately for delivery to participating sites in order to meet the growing demand for hydrogen fuel. The success of these stations will build increased confidence in the hydrogen vehicle market for both consumers and investors.

The station production equipment will be housed in a modular steel-hardened exoskeleton platform similar to a 40-foot shipping container, depending on the production requirements for a given site. The platform would contain a fully operational hydrogen production system. Each fueling station will be preassembled and rigorously tested in Tersus Power’s manufacturing facility to ensure minimum configuration at time of delivery. The design enhanced side panels that cover the structure will give it a permanent look and feel while providing further stability to the structure as a whole. The panels will be removable to provide access to production equipment for the purposes of maintenance and repair.

The modular fueling station will be placed on site at existing fueling stations on a prepared concrete pad that could support a more permanent installation. This approach allows for a narrowly focused permitting process which is necessary to connect the modular fueling stations to on-site utilities supporting the production of hydrogen. This approach eliminates the costly need to transport hydrogen from large-scale “refineries” to fueling stations.

Tersus Power generated over $2 million in revenue during 2021 by providing engineering services contracts in the hydrogen industry. Tersus Power is a debt-free Company with audited financials provided by a Public Company Accounting Oversight Board (PCAOB) accounting firm.

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.”

The United States alone is slated to invest $9.5 billion in the hydrogen industry under the newly signed, bipartisan infrastructure bill, signed into law by President Biden on November 15, 2021.

Further details of the transaction will be disseminated upon execution of the definitive documents. The transaction is anticipated to close during Q1 2022.

“This is an exciting time for the Global Technologies shareholders,” said Jimmy Wayne Anderson, president of Global Technologies, Ltd. “Tersus brings with it a management team with acute leadership skills and a world class engineering lineup.”

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Global Technologies, Ltd Enters Letter of Intent to Acquire Tersus Power