Heramba Electric Signs $26 Million e-Mobility Contract With Seattle, Washington Area
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) ha annunciato che la sua filiale, Kiepe Electric, ha ottenuto un contratto di 26 milioni di dollari con King County Metro a Seattle per un programma di aggiornamento delle batterie. Questo accordo triennale migliorerà le capacità di In Motion Charging (IMC®) per i filobus elettrici, fornendo pacchi batteria aggiornati con una capacità tripla rispetto ai sistemi di stoccaggio energetico originali.
L'azienda ha firmato ordini per 75 milioni di dollari in Nord America dall'inizio dell'anno, inclusi un recente contratto con la Chicago Transit Authority. I pacchi batteria aggiornati permetteranno agli autobus elettrici di percorrere oltre sette miglia tra le connessioni aeree, migliorando l'efficienza e supportando l'impegno di King County Metro per un trasporto pubblico eco-compatibile.
Heramba Electric plc (NASDAQ: PITA) ha anunciado que su subsidiaria, Kiepe Electric, ha asegurado un contrato de 26 millones de dólares con King County Metro en Seattle para un programa de actualización de baterías. Este acuerdo de tres años mejorará las capacidades de In Motion Charging (IMC®) para los autobuses eléctricos, proporcionando paquetes de baterías actualizados con una capacidad triple de los sistemas de almacenamiento de energía originales.
La compañía ha firmado 75 millones de dólares en pedidos en América del Norte hasta la fecha, incluyendo un reciente contrato con la Autoridad de Tránsito de Chicago. Los paquetes de baterías actualizados permitirán que los autobuses eléctricos viajen más de siete millas entre las conexiones de cable aéreo, mejorando la eficiencia y apoyando el compromiso de King County Metro con el transporte público ecológico.
Heramba Electric plc (NASDAQ: PITA)는 자회사 Kiepe Electric가 시애틀의 King County Metro와 2천6백만 달러 계약을 체결했다고 발표했습니다. 이 3년 계약은 전기 트롤리 버스의 In Motion Charging (IMC®) 기능을 개선하며, 기존 에너지 저장 시스템의 3배 용량을 갖춘 업그레이드된 배터리 팩을 제공합니다.
회사는 현재까지 북미에서 7천5백만 달러의 주문을 체결했으며, 최근 시카고 교통청과의 계약도 포함됩니다. 업그레이드된 배터리 팩은 전기 버스가 공중 전선 연결 사이를 7마일 이상 주행할 수 있도록 하여 효율성을 높이고, King County Metro의 친환경 대중교통에 대한 헌신을 지원합니다.
Heramba Electric plc (NASDAQ: PITA) a annoncé que sa filiale, Kiepe Electric, a sécurisé un contrat de 26 millions de dollars avec King County Metro à Seattle pour un programme de mise à niveau des batteries. Ce contrat de trois ans améliorera les capacités de In Motion Charging (IMC®) pour les trolleybus électriques, en fournissant des packs de batterie améliorés avec une capacité trois fois supérieure à celle des systèmes de stockage d'énergie d'origine.
L'entreprise a signé 75 millions de dollars de commandes en Amérique du Nord depuis le début de l'année, y compris un contrat récent avec la Chicago Transit Authority. Les packs de batteries améliorés permettront aux bus électriques de parcourir plus de sept miles entre les connexions de câbles aériens, améliorant ainsi l'efficacité et soutenant l'engagement de King County Metro en faveur d'un transport public écologique.
Heramba Electric plc (NASDAQ: PITA) hat angekündigt, dass ihre Tochtergesellschaft Kiepe Electric einen Vertrag über 26 Millionen Dollar mit King County Metro in Seattle für ein Batterieupragrade-Programm gesichert hat. Diese dreijährige Vereinbarung wird die In Motion Charging (IMC®) Fähigkeiten für elektrische Trolleybusse verbessern, indem sie aktualisierte Batteriepacks mit dreifacher Kapazität der ursprünglichen Energiespeichersysteme bereitstellt.
Das Unternehmen hat bisher 75 Millionen Dollar an Bestellungen in Nordamerika erhalten, einschließlich eines aktuellen Vertrags mit der Chicago Transit Authority. Die aktualisierten Batteriepacks ermöglichen es elektrischen Bussen, über sieben Meilen zwischen den Oberleitungsverbindungen zu fahren, was die Effizienz verbessert und King County Metros Engagement für umweltfreundlichen öffentlichen Nahverkehr unterstützt.
- Secured a $26 million contract with King County Metro in Seattle
- Signed $75 million in North American orders year-to-date
- Upgraded battery packs will triple the capacity of original energy storage systems
- Enhanced In Motion Charging (IMC®) technology allows buses to travel over 7 miles between overhead wire connections
- Provides on-site service support for up to five years, starting in 2024
- None.
Insights
Heramba Electric's recent
The additional five-year service support agreement provides a steady revenue stream and strengthens customer relationships. With the U.S. pushing for greener public transport, Heramba is well-positioned to capitalize on this trend. However, investors should monitor the company's ability to deliver on these contracts profitably and on time, as execution will be key to maintaining momentum and securing future deals.
Heramba's In Motion Charging (IMC®) technology represents a clever solution to the range limitations of electric buses. By allowing buses to charge while connected to overhead wires, it extends their off-wire range to over seven miles. This hybrid approach offers flexibility in route planning and reduces infrastructure costs compared to full electrification.
The battery upgrade from KIEPE is particularly noteworthy, tripling the energy storage capacity of existing buses. This not only improves performance but also extends the lifespan of the current fleet, offering a cost-effective path to better e-mobility. The focus on lifecycle management and upgrading older vehicles shows foresight in product development, potentially opening up a valuable market for retrofitting existing electric bus fleets worldwide.
The e-mobility market in North America is showing strong growth potential, as evidenced by Heramba Electric's recent contract wins. The
Heramba's strategy of combining German engineering with U.S. manufacturing ("made in USA products") could be a significant competitive advantage, appealing to both quality-conscious buyers and those prioritizing domestic production. The company's focus on upgrading existing fleets also taps into a potentially large market segment, as many cities look to improve their current electric bus systems rather than completely replace them. This approach could lead to faster adoption and market penetration for Heramba's technologies.
Has signed
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The three-year agreement will ensure enhanced in-motion charging capability for electric trolley buses and provide
KIEPE will also provide on-site service support for up to five years, starting in 2024.
KIEPE's recent program win in
"These recent transactions reflect our continued focus to deliver made in USA products, leveraging high-quality German engineering expertise, to address a significant opportunity to decarbonize urban America," said Michele Molinari, Chief Executive Officer at Heramba Electric. "We are in the early stages of executing against our growth plan in the region but are well-positioned to benefit from the strong commercial opportunities for high power charging stations and other state-of-the-art systems in our product portfolio."
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KIEPE has developed an upgraded battery pack for 174 electric trolley buses delivered to
As electrification becomes more complex, Kiepe Electric is being globally recognized for providing comprehensive support throughout the entire product lifecycle, delivering smart solutions, including for older vehicles.
About Heramba Electric plc
Heramba Electric plc is a growth-oriented, global technology company, dedicated to accelerating the decarbonization of public and commercial transportation. We are committed to driving organic and inorganic growth strategies, supported by the significant public company experience of our Board of Directors and more than 500 employees globally. For more information on Heramba Electric plc, visit www.herambaelectric.com.
Our principal subsidiary, Kiepe Electric, was formed in 1906. It is known worldwide for its efficient and ecologically sustainable electric equipment and solutions for streetcars, subway trains, regional trains and electric buses with In Motion Charging (IMC) and High-Power Charging (HPC). Recent innovations include the new, modular HPC platform for 12-, 18- and 24-meter e-buses and high-power charging infrastructure solutions for e-buses up to 800kW inclusive battery storage systems. To learn more, visit www.kiepe.knorr-bremse.com/en/de/.
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SOURCE Heramba Electric
FAQ
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