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Romeo Power (NYSE: RMO) is urging shareholders to vote on proxy proposals before the Annual Meeting of Stockholders, rescheduled from June 14 to June 30, 2022. A majority of votes favor all proposals, but Proposal 6 lacked sufficient individual votes despite an 84% approval rate. This proposal is crucial for securing capital to support ongoing operations and initiatives, such as relocating to a new facility to enhance manufacturing capacity. Shareholders' participation is vital to avoid costly adjournments and ensure their voices are heard.
Romeo Power, Inc. (NYSE: RMO) received a letter from the NYSE indicating non-compliance with continued listing standards due to its stock price averaging below $1.00 over 30 days. Although this does not result in immediate delisting, the company has six months to regain compliance by achieving a closing share price of at least $1.00. The company is required to notify the NYSE of its intent to cure within 10 business days and will continue trading on the NYSE during this period, maintaining compliance with other listing standards.
Romeo Power (NYSE: RMO) is expanding into aftermarket solutions, supplying batteries to a leader in powertrain performance products. CEO Susan Brennan emphasized this move aligns with their strategy to support all stages of commercial vehicle electrification. The company's batteries, noted for their superior energy density, are expected to enhance the performance of electric powertrains. This development enhances Romeo Power's growth trajectory, reflecting their commitment to innovation in the vehicle electrification market.
Romeo Power, Inc. (NYSE: RMO) has appointed Leon Kaunitz as the new Senior Vice President of Product Engineering. Kaunitz will oversee mechanical design, thermal validation, and engineering processes, contributing to the development of advanced electrification products for commercial vehicles. His extensive experience in electric vehicle (EV) applications and successful production implementations will enhance Romeo Power's capabilities. This leadership change aims to strengthen the company’s commitment to emission-free transportation, addressing customer needs for safety and efficiency.
Romeo Power (NYSE: RMO) reported fiscal Q1 2022 revenues of
Romeo Power, Inc. (NYSE: RMO) has been selected as the exclusive supplier of lithium-ion batteries for a U.S. manufacturer of Low-Speed Electric Vehicles (LSEVs). This partnership enhances Romeo's reputation and validates its technology for commercial battery solutions tailored to the evolving electric vehicle market. The LSEVs will be equipped with Romeo's high-quality batteries, designed for affordability and functionality, catering to fleet managers' needs for performance and cost reduction. This agreement is viewed positively by both Romeo and its customer, indicating a strong business relationship ahead.
Romeo Power, Inc. (NYSE: RMO) will participate as a featured panelist and sponsor at ACT Expo from May 9-11, 2022 in Long Beach, California. The event focuses on advanced technology and clean fleet solutions, allowing Romeo to showcase its innovative electrification products for commercial vehicles. CEO Susan Brennan emphasized the importance of the expo for connecting with customers and promoting decarbonization. Romeo Power will display its Banyan Module and Menara Pack Series at Booth 1361, featuring advanced battery systems designed for various commercial vehicle applications.
Romeo Power (NYSE: RMO) has announced it will report its fiscal first quarter results for the period ending March 31, 2022, on May 9, 2022. A conference call is scheduled for the same day at 2:00 PM Pacific Time. The live presentation will be available via webcast on the Company's website, with a replay to follow. Romeo Power focuses on advanced electrification solutions for commercial vehicles and operates a state-of-the-art manufacturing facility to support its product development and production needs.
Romeo Power (NYSE: RMO) has completed the first phase of its move to a new 191,000 sq. ft. headquarters and manufacturing facility in Cypress, California. This facility is still under construction, but departments like sales and finance have begun operations. The company expects to create hundreds of jobs in Orange County and plans to commence production in late 2022. While the transition occurs, Romeo continues operations in its current facility in Vernon, California.
Romeo Power (NYSE: RMO) has commenced shipping production pedigree packs to a key customer in the electric heavy-duty vehicle sector. This milestone follows the successful development of 80 kWh battery packs utilizing the company's proprietary modules and battery management system. Manufactured in Romeo's Vernon, California facility, these batteries enable vehicles to travel up to 350 miles on a single charge. The company is set to expand production capacity at its new Cypress factory, with the transition from the Vernon site expected by Q3 2022.
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