Ronn Inc. Announces That They Have Signed a One-Hundred Million ($100,000,000) Euro MOU Commitment Targeting Our Hydrogen Vehicles and Hydrogen Hub Projects

Rhea-AI Summary

Ronn Inc. (OTC PINK:RONN), headquartered in Scottsdale, AZ, has announced a Memorandum of Understanding (MOU) securing a €100,000,000 investment for advancing hydrogen vehicle and hub projects. This commitment, facilitated by a Capital Management firm, aims to support Ronn's hydrogen fuel cell vehicle (HFCV) development and hydrogen hub projects globally.

The investment will be released in two tranches of €50 million each. The first tranche will directly fund Ronn's hydrogen truck development and First Nations hub project. The second tranche will target investments or acquisitions in complementary hydrogen companies and technologies.

Ronn CEO, Ronn Ford, emphasized the strategic importance of this investment amid global financial and political challenges, highlighting the potential for hydrogen to contribute to climate improvement and benefit shareholders and partners.

Positive

• €100,000,000 investment commitment for hydrogen projects.
• First tranche of €50 million directly funds hydrogen truck development and First Nations hub project.
• Second tranche of €50 million targets complementary hydrogen companies and technologies for investment or acquisition.
• Facilitated by a Capital Management firm ensuring comprehensive investment program execution.
• Potential for hydrogen commercialization to drive climate improvement and shareholder value.

Negative

• Investment details and timeline for release remain unspecified.
• Dependence on successful execution amid global financial and political turmoil.
• Potential risks associated with timely and successful completion of hydrogen projects.

SCOTTSDALE, AZ / ACCESSWIRE / May 16, 2024 / RONN, Inc. (OTC PINK:RONN) is delighted to announce that after several months of due diligence on both sides, discussions have led to the signing of a MOU, providing $100,000,000 euro in total financial capital commitment has been extended to RONN, Inc. for a strategic Investment advancing Hydrogen Commercialization globally, including our HFCV vehicles and hydrogen hub development,

Ronn Ford, the company CEO, said the Investment offer with all the salient terms will be released in the near future; the investment in its present form is expected to be two tranches of 50 million euros; the first tranche will go directly to RONN Inc. for our hydrogen truck development operations, and our First Nations hub project, with the second 50 million euros targeting complementary hydrogen companies and hydrogen technologies for investment or acquisition", a Capital Management firm has facilitated the investment program in its entirety for its client.

Mr. Ford added that while we all have expressed frustration with the current global financial and political turmoil, the potential for hydrogen and climate improvement continues to increase, and all parties are committed to successful and timely completion as soon as possible for the benefit of our shareholders and expected new partners.

About RONN

RONN is a Hydrogen company at the forefront of sustainable technology solutions. While working to manufacture high-performance, environmentally responsible hydrogen electric vehicles, the Company has now added hydrogen production hub development to contribute positively to the planet.

For more information, please visit www.ronnmotorgroup.com or contact John Morgan at jmorgan@ronnmotorgroup.com

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.

SOURCE: RONN Inc.

View the original press release on accesswire.com

FAQ

What is the latest investment announcement from Ronn Inc. (RONN)?

Ronn Inc. announced a €100,000,000 MOU for hydrogen vehicle and hub projects.

How will Ronn Inc. utilize the €100,000,000 investment?

The investment will be split into two €50 million tranches; the first funds hydrogen truck development and the First Nations hub project, and the second targets complementary hydrogen companies and technologies.

Who facilitated the €100,000,000 investment for Ronn Inc.?

A Capital Management firm facilitated the investment program for Ronn Inc.

What are the strategic goals of Ronn Inc.’s new investment?

The goals include advancing hydrogen vehicle development and global hydrogen hub projects to contribute to climate improvement.

When was the €100,000,000 MOU announced by Ronn Inc.?

The announcement was made on May 16, 2024.