Alta Equipment Group Announces Innovate 21 Event

Rhea-AI Summary

Alta Equipment Group Inc. (NYSE: ALTG) will host the Innovate 21 conference at Gillette Stadium, Foxboro, MA, on October 14, 2021. This event showcases advancements in robotics, automation, and electrification, featuring the Nikola Tre, a Class 8 Battery-Electric Vehicle (BEV). As Nikola's exclusive dealer for Class 8 BEV/FCEV trucks in several states, Alta plans to start large-scale production of the Tre BEV by Q1 2022, which boasts a 753kWh battery pack, enabling a range of 350 miles and a charging time of around 120 minutes.

Positive

• Showcasing the Nikola Tre BEV demonstrates Alta's commitment to electric vehicle technology.
• Large-scale production of the Tre BEV scheduled to begin at the end of Q1 2022 enhances future revenue potential.

Negative

• Integration and management of new electric vehicle technology may pose operational challenges.
• Dependence on the success of the Nikola Tre BEV for future growth could be risky.

• Showcasing innovations in robotics, automation, electrification and energy solutions
• Featuring the new Nikola Tre, Class 8, Battery-Electric Vehicle (BEV)

LIVONIA, Mich.--(BUSINESS WIRE)-- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta”) has announced its upcoming Innovate 21 conference at Gillette Stadium in Foxboro, MA on October 14, 2021. Innovate 21 is an industry conference organized by Alta Material Handling, designed to showcase the latest innovations in robotics, automation, electrification and energy solutions coming out of the company’s material handling business. The event will feature the Nikola Tre BEV, the first product offering of the Alta Commercial Electric Vehicle segment.

Alta is Nikola’s exclusive authorized dealer for Class 8 BEV/FCEV trucks in the NY, NJ, eastern PA and New England markets. The Tre BEV, Nikola’s first battery-electric vehicle is scheduled to begin large scale production at the end of Q1 2022. The unit will house a 753kwh battery pack and will travel up to 350 miles per charge and has a charge time of approximately 120-minutes.

“Our theme for Innovate is Delivering Tomorrow’s Promise, Today.” said Alan Hammersley, President, Alta Material Handling, “The innovative technology of the Nikola Tre BEV is a great example of how our key partners are helping us demonstrate just that at the event.”

“We are excited to have Nikola participate at Innovate 21 and that the Nikola Tre BEV will also be on display at our event.” said, Ryan Greenawalt, Chief Executive Officer of Alta, “This will allow customers to get a firsthand look at the first of several Nikola electric vehicles that will eventually become a part of Alta’s equipment portfolio.”

About Alta Equipment Group Inc.

Alta owns and operates one of the largest integrated equipment dealership platforms in the U.S. Through its branch network, the Company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other industrial and construction equipment. Alta has operated as an equipment dealership for 37 years and has developed a branch network that includes over 55 total locations across Michigan, Illinois, Indiana, New England, New York, Virginia and Florida. Alta offers its customers a one-stop-shop for most of their equipment needs by providing sales, parts, service, and rental functions under one roof. More information can be found at www.altg.com.

Forward Looking Statements

This presentation includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about: our future financial performance; our plans for expansion and acquisitions; and changes in our strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management. These forward-looking statements are based on information available as of the date of this presentation, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties’ views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the outcome of any legal proceedings that may be instituted against us relating to the business combination and related transactions; (2) the ability to maintain our listing of shares of common stock on the New York Stock Exchange; (3) the risk that integrating our acquisitions disrupts our current plans and operations; (4) the ability to recognize the anticipated benefits of our business combination and acquisitions, which may be affected by, among other things, competition, our ability to grow and manage growth profitably, our ability to maintain relationships with customers and suppliers and retain our management and key employees; (5) changes in applicable laws or regulations; (6) the possibility that we may be adversely affected by other economic, business, and/or competitive factors; (7) disruptions in the political, regulatory, economic and social conditions domestically or internationally; (8) major public health issues, such as an outbreak of a pandemic or epidemic (such as the novel coronavirus COVID-19), which could cause disruptions in our operations, supply chain, or workforce; and (9) and other risks and uncertainties identified in this presentation or indicated from time to time in the section entitled “Risk Factors” in our annual report on Form 10-K and other filings with the U.S. Securities and Exchange Commission (the “SEC”). The company cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005342/en/

Investors:

Bob Jones / Taylor Krafchik

Ellipsis

IR@altaequipment.com

(646) 776-0886

Media:

Glenn Moore

Alta Equipment

glenn.moore@altaequipment.com

(248) 305-2134

Source: Alta Equipment Group Inc.

FAQ

What is Innovate 21 conference hosted by Alta Equipment Group?

Innovate 21 is an industry conference at Gillette Stadium on October 14, 2021, showcasing innovations in robotics and automation.

What is the Nikola Tre BEV's range and battery capacity?

The Nikola Tre BEV has a 753kWh battery pack and can travel up to 350 miles per charge.

When will large-scale production of the Nikola Tre BEV begin?

Large-scale production of the Nikola Tre BEV is scheduled to start at the end of Q1 2022.

What markets does Alta Equipment serve for the Nikola Tre BEV?

Alta is the exclusive dealer for Nikola's Class 8 trucks in NY, NJ, eastern PA, and New England.