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Romeo Power has partnered with Wrightspeed to enhance electrification in the medium and heavy-duty truck market. The collaboration aims to convert over one million existing diesel and gas buses and trucks to zero-emission vehicles using Wrightspeed's 'Powertrain in a Crate™' kits. This initiative promises job creation and technological advancements while providing a cost-effective alternative to new electric vehicles. Romeo’s battery technology will be manufactured in Cypress, California, with assembly occurring in Alameda, thereby promoting local installations and support for fleet operators.
Romeo Power, Inc. (NYSE: RMO) announced participation in two key conferences in March 2023. The 2nd Annual Cowen Mobility Disruption Conference will be held virtually on March 4, featuring a fireside chat at 9:50 a.m. US Eastern Time. The 34th Annual Roth Conference takes place on March 14 in Laguna Niguel, California. CEO Susan Brennan and CFO Kerry Shiba will hold meetings with investors at both events. Webcast links and materials for the Cowen Conference will be available on the company’s investor relations website.
Romeo Power, Inc. reported full-year 2021 revenues of
Romeo Power (NYSE: RMO) has secured the initial phase of a commercial program with Indigo Technologies, focusing on lightweight electric vehicles for rideshare and delivery. This partnership emphasizes advancing energy-efficient solutions amid the evolving last-mile delivery sector. Indigo plans to unveil its FLOW show car later this year at the Los Angeles Auto Show, showcasing enhanced electric vehicle features. The collaboration aims to leverage Romeo's advanced battery technology, crucial for various vehicle applications, enhancing both companies' positions in the commercial EV market.
Romeo Power (NYSE: RMO) announced a three-year extension of an existing supply agreement with a long-term customer, valued at approximately
The agreement underscores Romeo Power's commitment to delivering advanced electrification solutions for commercial vehicles. Chief Strategy Officer Lauren Webb highlighted the strategic importance of their proprietary battery technology and the continued strong relationships with customers.
Romeo Power (NYSE: RMO) announced it will report its fiscal fourth quarter and full-year results for the period ending December 31, 2021, on March 1, 2022. A conference call to discuss the results is also scheduled for the same day at 2:00 PM Pacific Time. Investors can access the live presentation via the company's website. Romeo Power specializes in advanced electrification solutions for commercial vehicles and has a 113,000 square-foot manufacturing facility focused on energy-dense modules.
Romeo Power (NYSE: RMO) has secured a $350 million common stock standby equity line purchase agreement with Yorkville Advisors to fuel its growth strategy and advance its EV battery technology. The agreement allows Romeo Power to sell up to $350 million in common equity at its discretion over two years, with shares issued at a 3-day VWAP discount of 96.25%. CEO Susan Brennan highlighted it as a significant step for commercialization and shareholder value, while CFO Kerry Shiba emphasized the financial flexibility it provides amidst potential short-term dilution.
Romeo Power (NYSE: RMO) has completed its acquisition of BorgWarner's interest in their joint venture for $28.6 million, using cash reserves. This move eliminates restrictive commercial limitations, allowing Romeo Power to expand its market beyond traditional heavy-duty vehicles and gain full decision-making control over its intellectual property. CEO Susan Brennan emphasized the company's enhanced operational autonomy and growth potential in the electrification market.
Romeo Power, Inc. (NYSE: RMO) has announced key appointments to its leadership team, naming Anne Devine as Chief Operating Officer and Rose Rogers as Chief People Officer. Devine will manage operations and production, succeeding Criswell Choi, who is leaving after a transitional period. Rogers will lead HR functions, focusing on talent management and organizational strategy. CEO Susan Brennan expressed confidence in their experience to enhance growth strategies and strengthen the company's operational efficiencies.
Romeo Power, Inc. (NYSE: RMO) reported third-quarter financial results for the period ending September 30, 2021. The company achieved revenue of $5.8 million, marking a 753% increase year-over-year due to product shipments to its largest customer. Romeo Power expanded its operational capacity with a new facility in Cypress, CA, and secured an ongoing collaboration with Dynexus Technology to enhance battery performance. The company reported strong liquidity with $181 million in cash and investments, reflecting a solid foundation for growth.
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