Pacific Green Announces Voluntary SEC deregistration

DOVER, DE / July 11, 2025 / Pacific Green Technologies, Inc. ("Pacific Green"), today announced that its Board of Directors (the “Board”) has determined to voluntarily delist its common shares from the OTC markets and to terminate its registration with the Securities and Exchange Commission.  

After careful consideration, extensive internal and external review of strategic, financial, and operational factors, and independent consultation with both advisors and legal counsel, the Board has determined that it is in the best interests of shareholders to voluntarily cease its reporting obligations with the Securities and Exchange Commission. 

Pacific Green has made the strategic decision to delist and deregister in order to streamline its corporate structure, lower regulatory and administrative burdens, and ensure its governance aligns more closely with the scale and requirements of its operations. As a growth-stage company focused on long-term infrastructure development, Pacific Green believes that reallocating resources toward executing its business strategy will enhance its ability to achieve sustained success. 

Pacific Green intends to file a Form 15 to deregister its securities and suspend its reporting obligations on or around 14 July 2025. The filing of the Form 15 will suspend Pacific Green’s reporting obligations under the United States Securities and Exchange Act of 1934.  As a result of the filing of the Form 15, Pacific Green’s obligation to file certain Exchange Act reports and forms with the SEC, including Forms 10-K, 10-Q, and 8-K, will immediately cease. 

The Board’s decision reflects a strategic realignment of resources to maximize shareholder value and ensure sustainable growth. The financial costs associated with maintaining a public company will be redirected toward accretive initiatives, including driving operational efficiency and advancing revenue-generating opportunities.  

"Our Directors unanimously supported the voluntary suspension of filings after careful consideration of our short and long term goals, and with a view to maximizing shareholder value,” said Pacific Green Chairman and CEO, Scott Poulter.  “We expect that the added flexibility and cost effectiveness associated with this step will accelerate our future development and expand our strategic options in terms of financing and growth.  We strongly believe that the benefits of de-registration clearly outweigh the benefits we received from maintaining our OTC quotation.”   

Pacific Green remains committed to its core business objectives and ongoing operations, specifically Pacific Green’s focus remains the ongoing development of 12GWh of battery energy storage projects across Europe and Australia. The Company will continue to pursue revenue generation, operational excellence, and strategic growth initiatives to drive long-term value for shareholders.