Renewable Innovations to Support Major Electric Vehicle Taxi Company with Hydrogen Clean Power

Rhea-AI Summary

Renewable Innovations (OTC: NBLD) announced a lease agreement to provide its hydrogen-powered Mobile Energy Command Trailer to an electric vehicle taxi company backed by a major auto manufacturer. The system is designed to recharge electric taxis independent of the US electrical grid, with deployment expected early next year. The company reported exceeding $7 million in purchase orders for 2022 from Fortune 50 companies, indicating significant growth potential. Renewable Innovations is also in discussions for strategic placements of its systems across U.S. Interstate Corridors.

Positive

• Exceeding $7 million in purchase orders for 2022, signaling strong demand.
• Lease agreement with an EV taxi company, enhancing revenue streams.
• Successful past deployment of technology at the Rebelle Rally.

Negative

• None.

Lindon, Utah, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Renewable Innovations (RI) (OTC: NBLD) will be providing its hydrogen-powered Mobile Energy Command Trailer under a lease agreement to an electric vehicle taxi company majority owned by a major auto manufacturer.

“Our system will rapidly recharge the company’s electric taxi and delivery vehicles independent of the US electrical grid,” states Robert Mount, Renewable Innovations CEO. The launch is anticipated to be early next year.

This same hydrogen product successfully supported the Rebelle Rally (www.rebellerally.com) in October of this year by charging EV’s participating in the race as well as the daily base camps with over 250 people in attendance. This event took place in the deserts of Nevada and California.

Renewable Innovations (RI) also has a purchase order to provide additional portable hydrogen powered units (Mobile Power Generators) to this company to support its growth and provide the ability to charge quickly at any location where a rapid charge is needed.

Mount continued “Unlike many of Renewable Innovation’s competitors, the company is a revenue generating company with a diverse customer base. We have a proven technology and continue to deliver on a sizeable backlog with the expectation for strong growth in 2023 and beyond. There are also potential opportunities available for accretive acquisitions, joint ventures and additional customers that would accelerate future growth.”

RI purchase orders exceeded $2 million in the first nine months of company operations. For 2022, purchase orders exceed $7 million, with all orders coming from Fortune 50 companies. MPG Units currently in production will also be delivered to other private and government customers to fill existing orders.

Company plans include placement of our grid independent, rapid charging systems at strategic fueling locations along the U.S. Interstate Corridors. Current discussions are in process with a key multi-location fueling station company. The U.S. Electrical Grid does not have the capacity to meet the demand of the coming Electric Vehicle Revolution. Renewable Innovations expects to be a solution to this problem.

The company is in discussions with multiple other customers and expects to see good future growth as hydrogen becomes the fuel of the future. The Company is accelerating the growth and opportunities in the renewable economy.

The Company also wants to address its capitalization. Fifteen long-standing shareholders of Nestbuilder.com Corp, who own or have the right to acquire an aggregate of over 14 million shares of common stock, are parties to a Leakout Agreement that limits their ability to sell shares over the 6-month period following the acquisition of Renewable Innovations, Inc. Further, the 93% of the company that is beneficially held by RI legacy shareholders is under 6-month resale restrictions typical in a private issuance. Thus, the approximately 1.55 million shares in the float are going to stay relatively consistent during this timeframe.

Please visit www.renewable-innovations.com for further information on products, partners, clients, and press releases.

About Renewable Innovations

Renewable Innovations is accelerating the growth and opportunities within the renewable economy. Their team of industry leaders brings extensive experience and invaluable connections across the Renewable, Hydrogen, and Alternative Energy sectors. Along with their partners, investors, and clients, they are making major technological advancements with products and solutions to lead the world into a new and exciting carbon-free future. Learn more at Renewable-Innovations.com.

Brokers and Analysts
Chesapeake Group
410-825-3930
info@chesapeakegp.com

Lynn Barney
Chief Financial Officer
investor@renewable-innovations.com

FAQ

What recent agreement did Renewable Innovations (NBLD) announce?

Renewable Innovations announced a lease agreement to provide its hydrogen-powered Mobile Energy Command Trailer to an electric vehicle taxi company.

How much did Renewable Innovations (NBLD) generate in purchase orders for 2022?

The company exceeded $7 million in purchase orders for 2022.

When is the Mobile Energy Command Trailer expected to launch?

The launch of the Mobile Energy Command Trailer is anticipated early next year.

What previous event did Renewable Innovations (NBLD) support using its technology?

The company's hydrogen product supported the Rebelle Rally by charging EVs participating in the race.

What strategic plans does Renewable Innovations (NBLD) have for its charging systems?

Renewable Innovations plans to place its rapid charging systems at strategic fueling locations along U.S. Interstate Corridors.