Dallas, TX, March 21, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Zenergy Brands, Inc. (OTCPK:ZNGY), the nation's next-generation utility, is pleased to announce today, that it has completed the installation obligations for two Zero Cost Customer Agreements with U.S.-based cryptocurrency mining operation, known as BitPlus, LTD. Zenergy first announced execution of its first Zero Cost Agreement with BitPlus on July 12, 2018 -news release can be accessed here.
BitPlus and Zenergy entered into two additional Zero Cost Agreements in November of 2018. Today, Zenergy is pleased to announce that two of three contracts are now installed and operational; the Company is making plans for installation of the third facility in the second quarter of this year. Each of the Zero Cost Agreements is responsible for producing a steady 10 Million annual kilowatt-hours in support of each of BitPlus's mobile mining units. Each of these Zero Cost Agreements represents a contracted revenue stream over a 48-month period; paid in monthly service payments.
"We are thrilled to see these facilities up and operational. Moreover, we are looking forward to Zenergy to provide new and innovative energy solutions for us in the near and long-term future," said Tom Blasen, CEO and Co-Founder of BitPlus.
BitPlus is utilizing an innovative energy sourcing strategy encompassing a micro-grid approach, giving them a unique competitive advantage in the cryptocurrency mining industry, when sourcing the cheapest price of electricity.
"Ever since I first learned of BitPlus's unique mobile-mining approach, I have been fascinated with this project. We are excited and thankful for being named as their energy solutions provider," said Alex Rodriguez, CEO of Zenergy.
Prospective clients wanting to learn more about the Zero Cost Program™ can do so by visiting Zenergy online at www.whatiszenergy.com.
ABOUT ZENERGY BRANDS, INC.
Zenergy Brands, Inc. (OTCQB: ZNGY), is a next-generation energy and technology company operating in the emerging smart energy/utility industry. The Company provides energy conservation, smart controls, and efficiency-based products and services as a fully integrated energy company. Zenergy is a public company, fully reporting to the SEC and currently trading on the OTCQB, a venture market designed for early-stage and developing U.S. and international companies. To learn more, visit www.whatiszenergy.com. and connect with the Company on its social media accounts:
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to some risks, uncertainties, and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the critical factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks detailed in the Company's filings, which are on file at www.OTCmarkets.com.
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Source: Zenergy Brand, Inc.