How will Malahat Nation and Energy Plug split ownership in the JV?

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Malahat Nation and Energy Plug to Hold Majority and Minority Ownership Stakes in Joint Venture

Malahat Nation will hold a majority ownership stake of 51% in the joint venture, while Energy Plug Technologies Corp. will maintain a 49% ownership interest. Both entities will collaboratively manage the joint venture, which is focused on localizing battery pack assembly and the battery supply chain in Canada.
Malahat Nation's Majority Stake

Malahat Nation is set to hold the controlling interest in the newly formed joint venture, with a 51% ownership share. This majority stake underscores the Nation's significant role in the partnership. The joint venture aims to establish a 100,000 sq ft facility powered by British Columbia's clean energy supply.
Energy Plug's Minority Interest

Energy Plug Technologies Corp. will retain a 49% ownership interest in the joint venture. The company will contribute its expertise in lithium-iron-phosphate battery storage technologies, leadership, sales capabilities, and strategic partnerships to the collaboration. The facility's initial production target is 100 MW of battery packs in its first year.
Collaborative Management Approach

The ownership structure reflects a collaborative management approach between Malahat Nation and Energy Plug. Together, they will oversee the joint venture's operations, with an initial focus on assembling lithium-iron-phosphate (LFP) battery technologies. By the fifth year, the facility aims to scale up manufacturing to 1000 MW of battery output, targeting a total output of 10 GWh by year ten.

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How will Malahat Nation and Energy Plug split ownership in the JV?

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