PITA Heramba Electric PLC

Heramba Electric plc (NASDAQ: PITA) (“Heramba Electric” or the “Company”), a global technology company focused on decarbonizing public and commercial transportation, announced that its wholly owned subsidiary, Kiepe Electric (“KIEPE”) has received a framework order from Vossloh Rolling Stock to equip eleven class DE 18 diesel-electric shunting locomotives with KIEPE's SmartHybrid battery drive instead of an additional diesel tank. The low-emission and low-noise operation of KIEPE's SmartHybrid battery drive brings operators various benefits, such as higher availability, decarbonization, and energy efficiency. KIEPE will present the SmartHybrid solution at Booth 430, Hall 9 at InnoTrans in Berlin from September 24-27, 2024.

Ulrich Lauel, Director of Global Sales Rail Systems at KIEPE: “Rail vehicles are designed for very long lifecycles. It is therefore important to keep an eye on the latest technologies. KIEPE wants to work with its customers to exploit all possibilities to implement the low-emission and efficient vehicles required today. We are fortunate to have added a successful chapter to our long-standing business partnership with Vossloh Rolling Stock with this locomotive project.”

KIEPE's System Integration is Convincing

KIEPE has already equipped over 130 DE 18 locomotives from Vossloh Rolling Stock, mainly used in heavy shunting and mainline service, with traction converters (TU 900). Eleven locomotives of this type have already been equipped with a SmartHybrid battery drive and control system.

The power converter with an integrated battery is mounted under the locomotive in place of the additional fuel tank and is connected to the locomotive's fire protection system. KIEPE equips the SmartHybrid battery drive with the batteries in an assembly facility specially set up for this purpose in Düsseldorf. Two battery packs are placed in the housing of the UGC 301 (underfloor equipment container 301) and integrated into the locomotive's drive system and its controls. The batteries can be charged via the diesel engine or an external power supply (3AC 400V). KIEPE contributes with system integration know-how to optimize the interaction between the battery and the traction container.

Economical Operation Despite Frequent Start and Stop Operation

The class DE 18 SmartHybrid locomotive can be used more flexibly in operation because it meets new environmental guidelines or local emission limits with regard to pollutants and noise emissions. The vehicles can drive in “zero-emission” areas, such as tunnels, inside factory buildings or train stations. In addition, depending on the load profile, a locomotive can carry out up to one hour of shunting operations without emitting emissions, even at night, thanks to the low noise levels. The frequent starting and stopping of the locomotives is more economical because the extended start-stop function of the diesel engine reduces pollutant emissions. This can reduce fuel costs by as much as 25% and also reduce maintenance costs. Battery operation scores points for its increased efficiency, especially when power requirements are low (less than 400 kW). Auxiliary units can be supplied with energy for up to three hours when the diesel engine is switched off.

The SmartHybrid battery drive from KIEPE makes the DE 18 locomotive more flexible and sustainable in its use. | © Vossloh Rolling Stock

Michele Molinari, CEO of Heramba Electric, said: “Heramba Electric and our Kiepe Electric subsidiary are committed to driving the transition to cleaner, more sustainable transportation solutions. Economical and low-emission rail vehicles are in demand, which also applies to cargo locomotives. The partnership with Vossloh Rolling Stock highlights our shared vision for reducing emissions and enhancing operational efficiency in rail systems. The SmartHybrid battery drive is a significant step forward, offering operators the flexibility, environmental benefits, and cost savings needed to meet modern challenges. We are proud to be at the forefront of this innovation, providing solutions that support a greener future for public and commercial transportation.”

About Heramba Electric

Heramba Electric is a special-focused company dedicated to accelerating decarbonized commercial transportation. Focused on innovation and impactful developments, our vision is to help the world seamlessly shift towards green mobility. Our investments in sustainable, clean energy providers support Heramba Electric’s mission to abate this transportation sector’s contribution to global greenhouse gas emissions (GHGs). Heramba Electric is the parent company of Kiepe Group, an international pioneer in electric mobility for rail vehicles and buses. For more information on Heramba Electric plc, visit our website at www.herambaelectric.com.

KIEPE, headquartered in Düsseldorf with subsidiaries in Austria, Canada, Italy, Switzerland and the USA, is known worldwide for its efficient and ecologically sustainable electrical equipment. The company has been offering solutions for light rail, subways, regional trains, locomotives, and electric buses with In Motion Charging (IMC) and High-Power Charging (HPC) since 1906. In addition, KIEPE provides charging systems for various applications. Kiepe Electric GmbH is a company of Heramba Electric plc. For more information on Kiepe Electric, visit our website at https://kiepe-group.com/en.

Cautionary Statement Regarding Forward-Looking Statements 

Certain statements included in this communication that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or events that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the plans and objectives of management for future operations, business strategy, anticipated growth and market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Heramba Electric management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Heramba Electric. These forward-looking statements are subject to a number of risks and uncertainties, including (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) the ability to continue to meet stock exchange listing standards following the consummation of the Business Combination; (iii) failure to realize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (iv) changes in applicable law or regulations; (v) the outcome of any legal proceedings that may be instituted against Heramba Electric, PERAC or Heramba; (vi) the effects of competition on Heramba Electric's future business; (vii) the ability of Heramba Electric to finance future operations; (viii) the enforceability of Heramba Electric's intellectual property rights, including its copyrights, patents, trademarks and trade secrets, and the potential infringement on the intellectual property rights of others; and (ix) those factors discussed under the heading "Risk Factors" in the definitive proxy statement/prospectus filed on March 19, 2024 by Heramba Electric and other documents filed, or to be filed, by Heramba Electric with the U.S. Securities and Exchange Commission. If any of these risks materialize or the assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Heramba Electric does not presently know or that Heramba Electric currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

In addition, forward-looking statements reflect Heramba Electric's plans or forecasts of future events and views as of the date of this communication. Heramba Electric anticipates that subsequent events and developments may cause Heramba Electric's assessments to change. However, while Heramba Electric may elect to update these forward-looking statements at some point in the future, Heramba Electric specifically disclaims any obligation to do so. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Accordingly, undue reliance should not be placed upon the forward-looking statements.

For further information and inquiries, please contact:

MediaParagon PRSimon Hylson-Smithheramba@paragonpr.com

InvestorsHayden IR James Carbonara (646)-755-7412james@haydenir.com

Atlanta Capital Partners, LLCDavid L. Kugelman(866) 692-6847 Toll Free - U.S. & Canada(404) 281-8556 Mobile and WhatsAppdk@atlcp.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/673292c5-de43-4fc1-9a53-9a0cfb198a53