Renewable Innovations Inc. Continues to Receive Multi-Million Dollar Orders For Alternative Energy Products

Rhea-AI Summary

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.

Positive

• Received over $1 million in purchase orders from Fortune 50 companies for green hydrogen and carbon capture.
• An additional $6 million in purchase orders for hydrogen-powered EV charging units already secured.
• Potential for tens of millions in orders from ongoing discussions for hydrogen power generation products.

Negative

• None.

Lindon, Utah, Jan. 06, 2023 (GLOBE NEWSWIRE) -- Renewable Innovations (RI) (OTC: REII), a leader in the zero-carbon, green solutions alternative fuel industry, announced today the company has received the third of three purchase orders totaling over $1 million from Fortune 50 companies to develop products that will support the use of green hydrogen as well as the development of technology to capture carbon in air handling systems.

This order compliments an additional $6 million in purchase orders already received by Renewable Innovation during 2022 from another Fortune 50 company to develop various EV charging units that are powered by hydrogen driven fuel cells. These units are currently in production.

Other projects are under discussion and close to completion with major companies for the delivery of the company’s power generation products fueled by hydrogen. Upon successful completion, orders totaling tens of millions of dollars are possible for EV powering stations in diverse localities. Additional announcements will be made as final agreements are completed.

Included in these discussions is the EmPower Unit which can rapidly charge a vehicle in about 15 minutes. This product is referenced in the General Motors Press Release dated January 19, 2022.

https://www.gmhydrotec.com/product/public/us/en/hydrotec/Home.detail.html/content/Pages/news/us/en/2022/jan/0119-hydrotec.html

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.

Forward Looking Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Forward-looking statements may be identified by the use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates” or other words of similar meaning. Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized, and involve risks and uncertainties, many of which are beyond Renewable Innovations control, including but not limited to regulatory approvals and market conditions. A discussion of factors that may affect future results is included in Renewable Innovation’s filings with the Securities and Exchange Commission. Renewable Innovations disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law.

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

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

FAQ

What recent orders has Renewable Innovations (REII) received?

Renewable Innovations has received three purchase orders totaling over $1 million from Fortune 50 companies for green hydrogen products and carbon capture technology.

How much in purchase orders did Renewable Innovations receive in 2022?

In 2022, Renewable Innovations secured an additional $6 million in purchase orders for hydrogen-powered EV charging units.

What is the EmPower Unit mentioned in the Renewable Innovations press release?

The EmPower Unit is a product that can rapidly charge a vehicle in about 15 minutes and is included in discussions for future projects.

What are the future prospects for Renewable Innovations (REII)?

Renewable Innovations is discussing additional projects with major companies that could lead to tens of millions in orders for hydrogen-fueled power generation products.