Romeo Power Supplies Batteries to Leader in Powertrain Performance Products

Rhea-AI Summary

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.

Positive

• Expansion into aftermarket solutions supports vehicle electrification strategy.
• Supply agreement with established powertrain performance provider enhances growth opportunities.
• Batteries noted for superior energy density, appealing to performance vehicle enhancements.

Negative

• None.

Romeo Power announces commercial expansion into aftermarket solutions in alignment with Company’s strategy to support all stages of commercial vehicle electrification

LOS ANGELES--(BUSINESS WIRE)-- Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced that the Company is supplying batteries to a leader in powertrain performance products.

“We are pleased to supply Romeo batteries to an established provider of aftermarket solutions, marking another encouraging step that supports our growth trajectory,” said Romeo Power’s Chief Executive Officer Susan Brennan. “The superior energy density of our battery packs is a natural fit for anyone interested in optimizing the performance of an electric powertrain. Selling into aftermarket solutions fits into our commercial strategy to support vehicle electrification at all stages of a vehicle’s lifecycle and serves as a solid indicator of our efforts to expand the application of our leading technology into the growing spectrum of vehicle electrification opportunities.”

“Our customer’s diverse portfolio of premium products to enhance commercial and performance vehicles is an exciting opportunity to showcase the superiority of Romeo’s technology. Our batteries offer the power and energy needed, while staying light and compact to complement our customer’s innovative product line,” Brennan added.

About Romeo Power, Inc.

Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo Power, follow the Company on social media, @romeopowerinc or visit RomeoPower.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, express or implied statements concerning Romeo Power’s ability to develop or sell new products, or to pursue customers in new product or geographic markets, Romeo Power’s expectations regarding its future financial performance, the demand for safe, effective, affordable and sustainable EV products, Romeo Power’s ability to produce and deliver such products on a commercial scale, and Romeo Power’s expectations that its customers will adhere to contracted purchase commitments on the currently expected timeframe are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s ability to increase the scale and capacity of its manufacturing processes; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; Romeo Power’s potential need for and ability to secure additional capital; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; demand for battery cells and supply shortages; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Romeo Power Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220526005764/en/

For Investors:

Joe Caminiti or Ashley Gruenberg

Alpha IR Group

RMO@alpha-ir.com

312-445-2870

Source: Romeo Power Inc.

FAQ

What is Romeo Power's recent expansion announcement?

Romeo Power announced a commercial expansion into aftermarket solutions, supplying batteries to a leader in powertrain performance products.

How does the expansion impact Romeo Power's growth?

The expansion is seen as an encouraging step that supports Romeo Power's growth trajectory in the vehicle electrification market.

What are the key features of Romeo Power's batteries?

Romeo Power's batteries are known for their superior energy density, making them a fit for electric powertrain optimization.

What is the significance of aftermarket solutions for Romeo Power?

The move into aftermarket solutions aligns with Romeo Power's strategy to support vehicle electrification at all stages.

Who is Romeo Power's CEO?

The CEO of Romeo Power is Susan Brennan.