RMO - RMO STOCK NEWS

Romeo Power has announced the leasing of a 215,000 square foot headquarters in Cypress, California. This facility will enhance the company's battery development and testing capabilities, doubling its laboratory capacity and improving overall manufacturing throughput and quality. The move is a strategic response to increasing demand for Battery Electric Vehicles (BEVs). Expected transition completion is within 6-9 months. This expansion is crucial for meeting the needs of commercial BEV manufacturers and fleet managers.

Romeo Power (NYSE: RMO) announced a collaboration with Dynexus Technology to enhance battery quality control, safety, and reliability within its battery ecosystem. The integration of Dynexus's iRIS sensors will facilitate improved cell screening and diagnostics, streamlining processes that previously took 30 minutes down to under 10 seconds. This technology aims to reduce total ownership costs for customers and enhance sustainability by supporting battery reuse. Romeo Power's commitment to leveraging advanced battery performance technology aligns with its goal of electrifying commercial vehicles.

Romeo Power (NYSE: RMO) announced its Q2 2021 financial results, reporting revenues of $926,000. The company secured a long-term supply agreement with a Tier 1 battery cell manufacturer and surpassed 750,000 miles of testing for its battery modules. Significant management changes were made, including naming Susan Brennan as CEO and adding key leadership roles to enhance growth and capabilities. As of June 30, 2021, cash and equivalents amounted to $267.7 million, positioning Romeo Power to pursue opportunities in the EV market while expanding access to sustainable energy solutions.

Romeo Power has requested the removal of its press release dated August 12, 2021, regarding a long-term supply agreement with LG Energy Solution for lithium-ion battery cells, valid through 2028. This move indicates potential adjustments in Romeo Power's strategic partnerships or corporate focus. The company appears to be reevaluating its public communications and commitments in this sector, which may hint at changes in its operational plans or business direction.

Romeo Power (NYSE:RMO) has entered a long-term supply agreement with LG Energy Solution for lithium-ion battery cells, committing 8GWh of energy through 2028. The cells are intended for battery packs that will support approximately 29,000 electric vehicles. Romeo Power will also facilitate LG Energy's new assembly line in Ochang, Korea, through a pre-payment of $64.7 million. The agreement, approved by both companies' Boards, became effective on August 10, 2021. This partnership positions Romeo Power to meet growing battery demand in the e-mobility sector.

Romeo Power (NYSE: RMO) announced the appointment of Susan Brennan as President and CEO, effective August 16, 2021. With over 30 years in the automotive and energy sectors, Brennan previously served as COO at Bloom Energy, where she significantly increased manufacturing capacity. She succeeds Lionel Selwood, Jr., who will continue as a senior advisor. The company aims to enhance its position in the EV battery market, focusing on commercial and industrial vehicle electrification. Brennan's leadership is expected to drive growth and innovation, leveraging her experience in scaling companies.

Romeo Power (NYSE: RMO) will announce its Q2 2021 financial results after market close on August 16, 2021. A live conference call is scheduled for 2:00 p.m. PT (5:00 p.m. ET), accessible via a webcast on the company’s Investor Relations website. Romeo Power specializes in advanced electrification solutions for commercial vehicles, utilizing a sophisticated battery management system and a state-of-the-art manufacturing facility in Los Angeles. This release aims to provide insights into the company’s financial health and operational progress.

Romeo Power (NYSE: RMO) has appointed Matthew Sant as its new General Counsel. Sant brings a wealth of experience from his previous roles at Skyworks Solutions and Broadcom, where he handled various legal matters, including corporate governance and mergers. He holds a double major in Political Science and Economics/Business from Westmont College and a Juris Doctor from Harvard Law School. His extensive background in technology and legal issues is expected to enhance Romeo Power's legal capabilities, supporting its mission to deliver advanced electrification solutions for commercial vehicles.

Romeo Power (NYSE: RMO) has appointed Kerry A. Shiba as the new Chief Financial Officer, effective July 6, 2021. Shiba brings over 30 years of financial experience, having served in executive roles at several public companies. Lauren Webb, the current CFO, will transition to Chief Strategy and Commercial Officer. The leadership change aims to enhance financial performance and support Romeo Power's mission in the electrification of commercial vehicles. Additionally, Yun Han has been appointed as Chief Accounting Officer, further strengthening the executive team.