Romeo Power Delivers Batteries to an Industry-Leading Integrator in the Industrial/Off-Highway Market
July 07 2022 - 4:30PM
Business Wire
Development program marks Romeo Power’s
continued expansion into battery and electrification solutions for
Industrial and Heavy Duty Off-Highway vehicles
Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO),
an energy technology leader delivering advanced electrification
solutions for complex commercial vehicle applications, today
announced that the Company is delivering commercial batteries to a
leading integrator of Industrial/Off-Highway equipment and
vehicles.
“We are thrilled to deliver our innovative battery packs to an
established integrator of Industrial/Off-Highway products as it
develops a new addition to its already robust portfolio. Romeo has
been engaged with this customer from the earliest stages of their
product development, allowing both companies to incorporate
important learnings into future battery systems that will be
optimized for this emerging sector,” said Romeo’s Chief Executive
Officer Susan Brennan. “Our customer’s portfolio will provide an
exciting opportunity to showcase Romeo’s leading technology, which
offers the power and energy output, as well as the exceptional
safety and shock and vibration characteristics, necessary for the
electrification of Off-Highway equipment and vehicles used in these
environments.”
Brennan added, “Romeo Power is driving the transition to a clean
energy future by delivering advanced electrification solutions for
the world’s most complex commercial vehicle applications. Our
innovative battery products and solutions are a natural fit for the
electrification of equipment and vehicles across a number of
industries, including agriculture, construction, mining and
forestry. This delivery further demonstrates how Romeo Power EV
battery technology is driving value across a diverse array of heavy
equipment and vehicle types as new industries and OEMs pursue
electrification.”
Romeo first initiated work in the Industrial sector last year,
shipping testing packs in 2021 and 2022 to its first Off-Highway
customer, a global pioneer in innovative products for agriculture
and construction. “Our initial pilot project in this space was with
a prominent OEM. After compiling hundreds of hours of testing and
data-driven results, we have a clear understanding of the needs and
nuances of electrification for Off-Highway equipment and vehicles.
From tractors and excavators to earth movers and harvesters, Romeo
Power designs and builds highly configurable battery packs that
power the industry forward,” Brennan said.
About Romeo Power, Inc.
Founded in 2016 and headquartered in Los Angeles, California,
Romeo Power (NYSE: RMO) is an energy technology leader delivering
advanced electrification solutions for complex commercial vehicle
applications. The Company’s suite of advanced battery electric
products, combined with its innovative battery management system,
delivers the safety, performance, reliability and configurability
its customers need to succeed. To keep up with everything Romeo
Power, follow the Company on social media, @romeopowerinc or visit
RomeoPower.com.
Forward-Looking Statements
Certain statements in this press release may constitute “forward
looking statements” within the meaning of the “safe harbor”
provisions of the United States Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
“estimates,” “projected,” “expects,” “anticipates,” “forecasts,”
“plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,”
“future,” “propose” and variations of these words or similar
expressions (or the negative versions of such words or expressions)
are intended to identify forward-looking statements. These
forward-looking statements, including, without limitation, express
or implied statements concerning Romeo Power’s ability to develop
or sell new products, or to pursue customers in new product or
geographic markets, Romeo Power’s expectations regarding its future
financial performance, the demand for safe, effective, affordable
and sustainable EV products, Romeo Power’s ability to produce and
deliver such products on a commercial scale, and Romeo Power’s
expectations that its customers will adhere to contracted purchase
commitments on the currently expected timeframe are not guarantees
of future performance, conditions or results, and involve a number
of known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside Romeo Power’s
management’s control, that could cause actual results or outcomes
to differ materially from those discussed in the forward-looking
statements. Important factors, among others, that may affect actual
results or outcomes include: Romeo Power’s ability to execute on
its plans to develop and market new products and the timing of
these development programs; Romeo Power’s ability to increase the
scale and capacity of its manufacturing processes; Romeo Power’s
estimates of the size of the markets for its products; the rate and
degree of market acceptance of Romeo Power’s products; the success
of other competing technologies that may become available; Romeo
Power’s ability to identify and integrate acquisitions; Romeo
Power’s potential need for and ability to secure additional
capital; the performance of Romeo Power’s products and customers;
potential litigation involving Romeo Power; demand for battery
cells and supply shortages; the potential effects of COVID-19; and
general economic and market conditions impacting demand for Romeo
Power’s products. You should carefully consider the foregoing
factors and the other risks and uncertainties described in the
Company’s filings with the SEC. If any of these risks materialize
or our assumptions prove incorrect, actual results could differ
materially from those implied by our forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Romeo Power undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Source: Romeo Power Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20220707005739/en/
For Investors: Joe Caminiti or Ashley Gruenberg Alpha IR
Group RMO@alpha-ir.com 312-445-2870
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