SAN DIEGO, CA, June 07, 2024 (GLOBE NEWSWIRE) -- Astra Energy Inc. (OTCQB: ASRE) (“Astra” or the “Company”) announces that through its subsidiary, A-HES Power Co., has entered into a Joint Venture Agreement with a large multinational corporation (the "Client") to venture into power generation and sales for the digital coin mining, cryptocurrency, and data center marketplace.
In consideration of the Agreement:
Initial Deposit: The Company has received a $1,000,000 deposit from the Client towards the manufacture and installation of a one-megawatt Holcomb Energy Systems Inline Power Generator as a pilot unit, potentially leading to further business.
License Fees: The Client will pay a license fee of $50,000 per megawatt for each project, up to a maximum of $500,000 per project, due upon delivery.
Royalty Agreement: A 5% royalty on the cost of goods installed will be paid upon delivery.
Non-Exclusive Resale Rights: The Client retains the non-exclusive right to resell further products and services within the sector.
Revenue Model: Consistent with Astra’s business model, the joint venture partners will own and operate the equipment as independent power producers, generating recurring revenue from power savings and/or power magnification. The gross revenue derived from these activities will be split confidentially between the partners.
Previous Release: Astra Energy Inc. and Powertron Global LLC Close Joint Venture to Build Power Company in the Waste-to-Energy Sector. Read More
Astra Energy Inc. is an integrated solutions provider investing in and developing renewable and clean energy projects in high-demand markets. The Company focuses on securing new technologies, identifying viable market opportunities, and executing first-in-class projects that benefit communities, local economies, the environment, and the Company’s investors.
Astra aims to create a secure and sustainable power sector that supports its mission to transform economic, environmental, and social landscapes for future generations.
For more information on $ASRE, visit Astra Energy Inc.. www.astraenergyinc.com
Cautionary Statement Concerning Forward-Looking Statements:
This document contains forward-looking statements. Factors including the Company’s ability to adapt to changing market needs and technological advancements, as well as the competitive environment, may cause actual results to differ materially from those projected in forward-looking statements.
Corporate Communications:
IR@astraenergyinc.com
(800) 705-2919
