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Overview of Heramba Electric plc
Heramba Electric plc is a global technology company committed to accelerating decarbonization with innovative electric mobility solutions in the transportation sector. With a focus on e-mobility, decarbonization, and electrical engineering, the company designs and integrates sophisticated electrical systems for a wide range of rail vehicles and electric buses. It serves public transport companies, fleet operators, and vehicle manufacturers, offering comprehensive, ecologically sustainable solutions.
Core Business Areas and Capabilities
Heramba Electric plc specializes in the development and integration of cutting-edge electrical systems for both rail and road vehicles. The company’s portfolio encompasses:
- Electrical systems for rail transport including trams, light rail vehicles, metros, regional trains, and locomotives.
- Innovative solutions for electric buses including both battery electric and in-motion charging trolley buses.
- Comprehensive system integration services that combine design, engineering, and implementation, ensuring seamless operation throughout the lifecycle of public transportation fleets.
Engineering Excellence and Global Expertise
At the heart of the company is a strong foundation in advanced electrical engineering. Drawing on decades of experience, Heramba Electric bridges the gap between traditional engineering principles and modern technological innovations. Its operations are enhanced by a robust network, which includes a historically renowned subsidiary with over a century of experience in delivering efficient electrical equipment for transit vehicles. This background supports the company’s commitment to high-quality German engineering principles and global competitiveness.
Innovative Products and System Integration
Heramba Electric has carved out a distinct niche by focusing on innovation in the realm of sustainable public transportation. Its product offerings are designed to address the complexities of modern electrification challenges. Notable aspects include:
- In Motion Charging (IMC): This technology enables electric buses to charge while in operation, thereby extending range and improving efficiency without the need for frequent stops.
- Smart Hybrid Traction Systems: These systems incorporate advanced battery drive technologies that enhance the performance, fuel efficiency, and operational availability of rail and road vehicles.
- System Integration Expertise: Heramba Electric serves as a strategic partner for public transit authorities, ensuring that the integration of its electrical systems leads to optimized performance, reduced maintenance costs, and improved reliability across various transit modalities.
Position within the Global Transportation Industry
Heramba Electric is strategically positioned within the rapidly evolving global transportation landscape. It addresses the challenges posed by urban congestion and environmental regulations by promoting a shift towards emission-free public transportation systems. By leveraging technological advancements in high-power charging systems and digital monitoring solutions, the company not only meets current market demands but also reinforces its technical credibility in an increasingly competitive industry. Its operations extend globally, ensuring that high-performance electrical systems benefit public transportation systems worldwide.
Commitment to Sustainable Mobility
The mission of Heramba Electric is rooted in sustainability. Its products and services are meticulously designed to reduce environmental impact while enhancing operational efficiency. The company’s work is a critical component in the broader movement towards sustainable urban transportation, offering solutions that contribute to a reduced carbon footprint and a more environmentally responsible approach to mobility. This commitment is reinforced by its continuous investment in research and development, ensuring that its technologies remain at the forefront of the decarbonization trend.
Comprehensive Service and Support
Understanding the importance of a complete product lifecycle, Heramba Electric provides extensive after-sales support and maintenance services. This ensures that its advanced electrical systems continue to operate efficiently over the long term. The company’s ability to offer on-site service support, system updates, and tailored maintenance programs further enhances its value proposition by reducing downtime and optimizing performance for transport operators.
Technical Innovation and Market Differentiation
Heramba Electric differentiates itself in the market through a balanced blend of traditional engineering excellence and modern technological innovation. Its portfolio of solutions includes state-of-the-art systems that cater to the evolving needs of urban mobility. In an industry that is driven by continuous advancements, the company’s focus on reliable, high-efficiency electrical systems positions it as an essential contributor to both current operations and the ongoing evolution of public transportation infrastructure.
Conclusion
In summary, Heramba Electric plc is a dedicated provider of advanced electrification solutions for the transportation sector. Its breadth of expertise encompasses the design, integration, and support of electrical systems for rail vehicles and electric buses, making it an invaluable player in the global movement towards decarbonized and efficient public transportation. Through strategic investments in technology and a commitment to engineering excellence, the company continues to set benchmarks in the sustainable mobility arena, ensuring reliable and efficient services for public transit operators around the world.
Heramba Electric plc (NASDAQ:PITA) has received a notification from Nasdaq indicating non-compliance with the minimum Market Value of Listed Securities (MVLS) requirement of $35 million. The company has been granted a 180-day compliance period until September 17, 2025 to regain compliance by maintaining an MVLS of $35 million or more for at least ten consecutive business days.
This notice follows earlier challenges, including a delinquency notification received on March 17, 2025, regarding non-compliance with the minimum bid price requirement of $1.00 per share. Additionally, the company's subsidiary Heramba filed for insolvency proceedings on January 30, 2025, following payment demands of approximately EUR 24,855,000 from KB GmbH related to a previous Share Purchase Agreement.
Heramba Electric plc (NASDAQ:PITA) has received a notice from Nasdaq on March 11, 2025, indicating non-compliance with the minimum bid price requirement. The company's shares have traded below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
The company has until September 8, 2025 to regain compliance by maintaining a closing bid price at or above $1.00 for a minimum of 10 consecutive business days. During this 180-day period, PITA shares will continue trading on Nasdaq uninterrupted.
This notification follows recent challenges, including an insolvency filing by subsidiary Heramba GmbH on January 30, 2025, after receiving demand letters from KB GmbH for approximately EUR 24,855,000 plus interest related to a previous Share Purchase Agreement.
Heramba Electric's subsidiary Kiepe Electric has received an order from Vossloh Rolling Stock to equip eleven DE 18 diesel-electric shunting locomotives with SmartHybrid battery drives. This innovative system replaces additional diesel tanks, offering low-emission and low-noise operation. Key benefits include:
1. Higher availability and energy efficiency
2. Up to 25% reduction in fuel costs
3. Reduced maintenance costs
4. Zero-emission operation in sensitive areas
5. Extended start-stop function for reduced emissions
The SmartHybrid system allows for up to one hour of emission-free shunting operations and three hours of auxiliary unit power supply when the diesel engine is off. This partnership demonstrates Heramba Electric's commitment to cleaner, sustainable transportation solutions in the rail industry.
Heramba Electric's subsidiary Kiepe Electric is set to supply traction inverters for the DRAISY project, a revolutionary very light train initiative by LOHR & SNCF. The 100% battery-powered DRAISY aims to revitalize rural railway lines in France, with an estimated 9,000 kilometers of potential routes. Kiepe Electric will provide the Kiepe Traction Inverter (KTI) and electric motors for this economical and sustainable passenger transport solution.
The 14-meter-long DRAISY train, weighing only 20 tons, can carry up to 80 passengers at speeds of 100 km/h with a 150-kilometer range. It promises lower operating and maintenance costs compared to conventional regional trains. The project is expected to launch in Alsace by 2026, marking a significant step towards decarbonizing public transportation in rural areas.
Heramba Electric plc (NASDAQ: PITA) has announced that its subsidiary, Kiepe Electric, has secured a $26 million contract with King County Metro in Seattle for a battery upgrade program. This three-year agreement will enhance In Motion Charging (IMC®) capabilities for electric trolley buses, providing upgraded battery packs with triple the capacity of the original energy storage systems.
The company has signed $75 million in North American orders year-to-date, including a recent contract with Chicago Transit Authority. The upgraded battery packs will allow electric buses to travel over seven miles between overhead wire connections, improving efficiency and supporting King County Metro's commitment to eco-friendly public transportation.
Heramba Electric plc (NASDAQ: PITA) reported strong financial results for 2023 through its subsidiary Kiepe Electric. Revenues increased by 27.6% to €152.8 million, with significant growth in North America (57.5%) and Europe (24.7%). The company achieved net income of €407k, a substantial improvement from a €21 million loss in 2022. Kiepe Electric ended 2023 with a record order backlog of €573.0 million and a strong cash position of €32.5 million with no debt. Heramba Electric, formed through the acquisition of Kiepe Electric and a business combination with PERAC, aims to become a global leader in sustainable urban transportation. The company will host an investor call on August 7, 2024, to discuss these results and provide a 2024 operational update.
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