Welcome to our dedicated page for Romeo Power news (Ticker: RMO), a resource for investors and traders seeking the latest updates and insights on Romeo Power stock.
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Romeo Power (NYSE: RMO) has announced the redemption of all outstanding public warrants to purchase shares of its common stock, effective March 18, 2021. The redemption price is set at $0.01 per warrant. The company was eligible to redeem these warrants as the stock price exceeded $18.00 for twenty trading days in a thirty-day period. Holders can exercise the warrants at an exercise price of $11.50 until the redemption date. Unexercised warrants will be void post-redemption.
Heritage Group launched Heritage Battery Recycling (HBR) in late 2020 to address the rising need for sustainable lithium-ion battery solutions. In partnership with Romeo Power (NYSE: RMO), HBR will establish a recycling facility in the southwestern US. This initiative aims to provide safe end-of-life battery management for commercial vehicle manufacturers. Collaboration with Heritage-Crystal Clean (NASDAQ: HCCI) enhances HBR's logistics capabilities, giving access to over 100,000 customer locations. Shane Thompson has been appointed as HBR's President, highlighting the company's commitment to the recycling industry.
Romeo Power (NYSE: RMO) has formed a Strategic Alliance with Republic Services (NYSE: RSG) to enhance the development of advanced battery technology for electric garbage trucks. This partnership will involve a steering committee to oversee the project and a retrofit test program, removing diesel engines from select vehicles to install electric motors and Romeo Power battery packs, targeting completion by the end of 2021. The initiative aims to promote sustainable transportation and improve fleet electrification for Republic Services.
Heritage Environmental Services and Romeo Power have launched a new fleet electrification program aimed at integrating Battery Electric Vehicles (BEVs) into HES's operations. The initiative plans to select commercial partners for producing BEVs, with the objective of purchasing 500 vehicles by 2025 and electrifying up to 2,000 trucks in the future. US Ecology will also observe the program as it considers its own electrification options for its fleet of 1,100 trucks. This collaboration underscores a commitment to sustainability and innovation in the transportation sector.
