NU E Power Makes Letter of Intent to Acquire Blu Dot Systems Binding

Company Overview - Nu E Power Corp. is focused on developing, constructing, and operating clean and renewable energy infrastructure across North America [14] - The company has a partnership with Low Carbon Canada Solar Limited to develop up to 2GW of renewable energy projects in Canada by 2030 [14] Acquisition Details - Nu E Power Corp. has made a binding Letter of Intent to acquire Blu Dot Systems Inc., with the term extended until March 31, 2025 [1][10] - The acquisition involves the issuance of 8,500,000 common shares at a deemed price of $0.54 per share to Blu Dot's existing shareholders [10][11] Industry Insights - Blu Dot operates in the electrical switchgear industry, which has an annual global market of$92.3 billion, growing at 6.7% per year and expected to reach $155.3 billion by 2031 [2] - The growth in this market is largely driven by expansion in data centers, renewable energy infrastructure, and electrification growth [2] Leadership Changes - Todd Michaels will join Blu Dot as President to lead its U.S. expansion efforts, bringing over 25 years of experience in the energy industry [4][5] - Michaels has a proven track record in product innovation, supply chain optimization, and business development, having previously served as Founder and CEO of Correlate and held leadership roles at SunEdison and NRG [6][7][8]