Vancouver, British Columbia--(Newsfile Corp. - June 21, 2023) - Tevano Systems Holdings Inc. (CSE: TEVO) (FSE: 7RBA) (OTC Pink: TEVNF) ("Tevano" or the "Company") a technology company specializing in sustainable energy solutions, are pleased to announce the signing of a Letter of Intent (LOI) to explore a collaborative partnership with Source Energy Global, a prominent player in the energy industry, aimed at combining their joint expertise and resources to drive innovation and address the global need for a cleaner, sustainable and effective Direct Lithium Extraction (DLE) system.
The LOI signifies the commitment of both organizations to engage in joint research and development initiatives. Tevano Systems and Source Energy Global will collaborate on various projects focused on advancing renewable energy systems by leveraging their respective strengths. The companies aim to accelerate the development and commercialization of cutting-edge DLE technologies.
Through this collaboration, Tevano Systems and Source Energy Global will also foster knowledge exchange, sharing technical expertise, and best practices in the field of energy systems. This exchange will enable both organizations to enhance their capabilities, drive innovation, and address the evolving energy needs of the market.
"We are thrilled to enter into this partnership with Source Energy Global," said David Bajwa, CEO of Tevano Systems. "By joining forces, we can pool our resources and expertise to create sustainable energy solutions that have a significant impact on the Lithium industry. This collaboration marks a significant milestone in our shared vision of creating a greener and more sustainable future."
Dr. Oliver Jones, Chairman and Founder of Source Energy Global, expressed equal enthusiasm, stating, "We believe that partnerships are crucial in driving innovation and achieving sustainable energy goals. Tevano Systems is an ideal partner with their proven track record and expertise in renewable energy technologies. Together, we can develop ground-breaking solutions that will help shape the future of the energy industry as we transition from fossil fuels to clean renewable energy."
The LOI sets the stage for Tevano Systems and Source Energy Global to negotiate a formal Joint Venture agreement, outlining the terms and conditions of their collaboration. Both companies are committed to finalizing the agreement in a timely manner to kick-start their joint initiatives and begin making significant contributions to the energy sector.
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.
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On behalf of the Board of:
TEVANO SYSTEMS HOLDING INC.
Eugene Hodgson, Chief Financial Officer
Eugeneh@tevanosystems.com
604-805-6600
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