GENESIS ELECTRONICS GRP - GEGI STOCK NEWS

Genesis Electronics Group, Inc. (GEGI) has secured $190,000 in funding from Strategic Investor, 40 Brightwater, LLC, closing out the current Reg A offering. The investment will support the growth plans of GEGI and its autonomous road-to-rail shipping technology, Glīd. Taylor Transport has also signed a purchase order for the first units produced by GEGI, and the company has announced a strategic partnership with the Portland Vancouver Junction Railroad.

Genesis Electronics Group (GEGI) has entered a partnership with the Portland Vancouver Junction Railroad (PVJR) to test its Glīd technology—an autonomous road-to-rail shipping solution. The agreement allows Glīd units to operate on PVJR’s rail lines, marking the first such access for autonomous vehicles in the U.S. The partnership is situated on a 33-mile stretch of rail that connects to key ports, enhancing freight transportation efficiency. Glīd's testing will occur on Taylor Transport’s property, which has a direct connection to PVJR, facilitating further evaluations and modifications. The partnership aims to meet national rail safety standards and promote eco-friendly transportation solutions. GEGI also plans to expand its operations in the region, potentially creating jobs and securing grants.

Genesis Electronics Group (GEGI) has secured its first binding purchase order from Taylor Transport for two units of its innovative shipping technology, Glīd. This partnership signifies a pivotal development in GEGI's mission to advance autonomous road-to-rail transport solutions. Taylor Transport's facility in Vancouver, WA will serve as a testing ground for Glīd's autonomous vehicles, enhancing their freight operations.

CEO Kevin Damoa expressed optimism about the commitment shown by Taylor Transport towards decarbonization efforts and highlighted the potential market demand for Glīd technology. The partnership is anticipated to accelerate Glīd's commercialization process, with Mr. Leboki of Taylor Transport endorsing the product and the leadership team.

Genesis Electronics Group (GEGI) has appointed Tony Petraborg as Lead Mechatronics, Battery, and Integration Engineer for its Glīd vehicle production. With over 26 years of experience in designing and launching battery systems across aviation and automotive sectors, Petraborg's expertise is expected to significantly contribute to Glīd’s business plan.

Petraborg's previous roles include Principal Engineer positions at Romeo Power and Faraday Future, emphasizing his strong background in battery systems. CEO Kevin Damoa highlighted the importance of decarbonizing intermodal transportation, positioning Glīd’s technology as a solution to global challenges. This hiring aligns with GEGI’s growth strategy announced earlier for 2023 and 2024.

Genesis Electronics Group (GEGI) announced a strategic partnership with Taylor Transport, marking its first customer for the innovative Glīd technology. The letter of intent allows Taylor Transport to utilize Glīd’s autonomous road-to-rail shipping system, enhancing freight movement efficiency. This partnership leverages Taylor's extensive fleet and rail access, providing a dedicated testing ground for Glīd’s beta units. Taylor Transport's commitment to sustainability aligns with Glīd's mission to reduce carbon footprints in logistics. The collaboration is expected to expedite the commercialization of Glīd technology, promising significant advancements in the shipping industry.