RENEWABLE INNOVATIONS INC - REII STOCK NEWS

Renewable Innovations, Inc. (OTC: REII) has entered a joint venture with MENA Holdings, LLC to create an assembly facility for hydrogen fuel cell products in Saudi Arabia. This venture aims to capitalize on the growing interest in hydrogen within the Middle East and North Africa (MENA) regions, aided by substantial funding opportunities. The agreement leverages MENA’s extensive experience in the area and will see former Utah Governor Gary Herbert act as an advisor to Renewable Innovations. The partnership is poised to strengthen Renewable Innovations' market presence and facilitate access to key players in the region's hydrogen market.

Renewable Innovations, Inc. (OTC: REII), a frontrunner in the alternative fuel industry, announced the validation of its proprietary renewable energy technology. The company has developed sophisticated software and hardware components enabling complex renewable energy systems, with systems currently being deployed and new orders being received.

RI has around a dozen revenue-generating projects with Fortune 500 companies and plans to finalize various systems soon, with initial deployments expected this year. With global investments in green energy surpassing $1.1 trillion in 2022, the demand for renewable power is rapidly accelerating.

CEO Robert Mount emphasized the efficiency of their H2 solutions, asserting a strong market position and commitment to investor transparency. Continuous updates on system deliveries will be provided as the company progresses.

Renewable Innovations (OTC: REII) reported significant growth in its FY 2022 financial results, ending November 30, 2022. Revenue surged to $3.47 million, marking an 837% increase from $370,341 in 2021, primarily due to contracts with two Fortune 50 companies. Gross profits rose to $890,219, with a gross margin improvement from 8.3% to 25.7%. Operating expenses decreased by 32% to $956,907. Total assets grew by 54% to $9.49 million, and cash position improved to $1.26 million. Net loss narrowed from $1.18 million to $994,938.

Renewable Innovations Inc. is collaborating with AECOM and other partners in New Zealand to develop hydrogen fuel cell-powered emergency power supplies. These systems can produce up to 80 kW of power and operate for up to seven days on green hydrogen. The EmPower^™ 50 system is designed as a renewable alternative to diesel generators, producing only pure water as waste. The company plans to install these systems across New Zealand, aiming to support the country's net-zero targets. They are also exploring a manufacturing plant in New Zealand to meet growing demand.

Renewable Innovations (OTC: REII) is expanding its operations into Europe, led by Dr. Cristiano Uva, who brings over 25 years of legal, financial, and entrepreneurial experience. Dr. Uva's leadership is expected to enhance the company's growth trajectory in the European market, particularly in hydrogen fuel solutions. Renewable Innovations aims to deploy a proprietary network of hydrogen-powered EV fast charging stations in response to Europe's increasing demand for sustainable energy. CEO Robert Mount emphasized the significant potential in Europe, anticipating this new office to substantially contribute to the company’s growth.

Renewable Innovations (OTC: REII) showcased its high-power mobile fuel cell power system, the Mobile Energy Command – Hydrogen (MEC-H), at the Fuel Cell and Hydrogen Energy Association (FCHEA) show on February 7-8, 2023. This first-to-market system can generate sufficient power for up to 75 homes from hydrogen, enabling grid-free energy solutions in remote locations, recently utilized in the Rebelle Rally. The MEC-H’s benefits include a minimal carbon footprint and suitability for diverse applications, from community events to military use. Industry leaders praised Renewable Innovations for its expertise and commitment to advancing hydrogen technology.

Renewable Innovations (OTC: REII) was highlighted in a MotorTrend article on January 20, 2023, featuring its solar-powered EV charging station, the Mobile Energy Command (MEC-S), which powered six electric vehicles at the 2023 Performance Vehicle of the Year event. This 53-foot unit can be quickly deployed to provide electricity in various temporary locations, backed by a 220-kWh battery for energy storage. The company also offers the MEC-H2EV, integrating hydrogen fuel cells and lithium-ion batteries for enhanced charging capabilities. Renewable Innovations aims to address the growing global demand for sustainable energy solutions.

Renewable Innovations (OTC: REII) announced the receipt of three purchase orders exceeding $1 million from Fortune 50 companies to develop green hydrogen products and carbon capture technology. This follows an additional $6 million in orders for hydrogen-powered EV charging units received in 2022. Further discussions for significant orders in hydrogen-fueled power generation products are underway, potentially leading to tens of millions in additional business. The EmPower Unit, capable of rapidly charging vehicles, is also in focus.