Ronn Delivers Exciting New Developments to Shareholders as It Collaborates With Tobique First Nations on a Vision for a Virtual Hydrogen Highway

Rhea-AI Summary

RONN Inc. (OTC PINK:RONN) has announced an expanded meeting with Tobique First Nations leaders to discuss plans for establishing up to 10 hydrogen hubs across Canada. This initiative aims to create a virtual hydrogen highway on First Nations land, enabling travel with NetZero hydrogen vehicles. The project, estimated to require up to $1 billion investment over the next decade, includes Class 8 hydrogen-electric trucks for freight and future retail passenger vehicles.

The partnership with Tobique is part of a larger strategy involving three wind farms and hydrogen pilot programs for local utilities and airport heating. Financing options include government grants, potential bonds, and green hydrogen sales. A revenue-sharing model for hydrogen sales is included, with plans to export hydrogen to Europe through the local port. RONN is also finalizing a separate joint venture with several hydrogen contracts.

Positive

• Planned establishment of up to 10 hydrogen hubs across Canada
• Potential $1 billion investment over the next decade
• Partnership with Tobique First Nations for virtual hydrogen highway
• Development of three wind farms and hydrogen pilot programs
• Revenue-sharing model for hydrogen sales with export potential to Europe
• Finalizing a separate joint venture with multiple hydrogen contracts

Negative

• Large capital investment required ($1 billion over 10 years)
• Dependence on securing government grants and potential bonds for financing
• Project success relies on future market evolution for retail passenger vehicles

SCOTTSDALE, AZ / ACCESSWIRE / October 8, 2024 / RONN Inc. (OTC PINK:RONN) is thrilled to announce, since its S-1 submission, an expanded new requested meeting with the visionary leaders of Tobique First Nations, including the Tribal Chief, Tribal EDC executives, and key governmental representatives. This pivotal gathering focused on the ambitious plan to establish up to 10 hydrogen hubs across Canada, utilizing First Nations land to create an innovative virtual hydrogen highway. This infrastructure corridor will enable seamless travel across Canada, powered by NetZero hydrogen vehicles, starting with Class 8 hydrogen-electric trucks for freight transport and paving the way for retail passenger vehicles as the market evolves.

CEO Ronn Ford expressed enthusiasm for the project's vast potential, estimating an investment needed of up to $1 billion over the next decade. "We have engaged with numerous Tribal leaders from coast to coast and have garnered incredible support for this initiative," he stated. The partnership with Tobique is just one facet of a larger strategy that currently includes three wind farms and promising hydrogen pilot programs aimed at energizing the local utility and providing heating solutions for the airport. "Tobique officials are pioneering thinkers, employing a diverse array of strategies to achieve NetZero status."

Ford highlighted the importance of robust financing options, including government grants, potential bonds, and the sale of green hydrogen generated from the affordable electricity produced by Tobique's wind farms. The agreement includes a revenue-sharing model for hydrogen sales, bolstered by the local port's capabilities, which will facilitate the export of hydrogen to Europe and beyond. RONN is also in the final stages of securing a separate joint venture that encompasses several exciting hydrogen contracts.

This collaboration marks a significant step towards a sustainable future, showcasing the power of partnership in driving innovation and environmental stewardship. Stay tuned for more updates as RONN and Tobique First Nations lead the charge towards a cleaner, greener Canada!

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Factors that could cause or contribute to such differences include, but are not limited to, the success of RONN, Inc. initiatives in the hydrogen tax credit market. RONN, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information

John Morgan
IR
jmorgan@ronnmotorgroup.com

SOURCE: Ronn Inc

View the original press release on accesswire.com

FAQ

What is RONN Inc.'s plan for hydrogen hubs in Canada?

RONN Inc. (RONN) plans to establish up to 10 hydrogen hubs across Canada, creating a virtual hydrogen highway on First Nations land for NetZero hydrogen vehicles, starting with Class 8 hydrogen-electric trucks for freight transport.

How much investment is required for RONN's hydrogen hub project?

RONN Inc. (RONN) estimates an investment of up to $1 billion over the next decade for the hydrogen hub project in Canada.

What is the partnership between RONN Inc. and Tobique First Nations?

RONN Inc. (RONN) is partnering with Tobique First Nations to develop hydrogen hubs, wind farms, and hydrogen pilot programs for local utilities and airport heating, with a revenue-sharing model for hydrogen sales.

What are the financing options for RONN's hydrogen project?

Financing options for RONN Inc.'s (RONN) hydrogen project include government grants, potential bonds, and the sale of green hydrogen generated from Tobique's wind farms.