Ronn Inc. Signs Hydrogen Development Partnership Agreement with Tobique First Nations

Rhea-AI Summary

RONN Inc (OTC PINK:RONN) has announced a strategic partnership with the Tobique First Nation to develop hydrogen production and infrastructure. The agreement includes an initial $1 million investment from the First Nation and is expected to grow into a multi-million-dollar partnership. The collaboration aims to provide hydrogen infrastructure sales, operational income, FCEV truck sales, and future hydrogen sales revenues.

The partnership plans to leverage Tobique First Nation's new wind farm for potential hydrogen production, similar to a recent $430 million Canada-Germany hydrogen deal. Julian Moulton, representing Tobique Nation, emphasized the opportunity to capitalize on the growing clean energy market and Net Zero initiatives, promising economic benefits and environmental stewardship.

Positive

• Strategic partnership with Tobique First Nation for hydrogen development
• Initial $1 million investment from Tobique First Nation
• Potential for multi-million-dollar partnership expansion
• Multiple revenue streams: infrastructure sales, operational income, FCEV truck sales, and hydrogen sales
• Opportunity to utilize Tobique First Nation's wind farm for hydrogen production

Negative

• None.

SCOTTSDALE, ARIZ. / ACCESSWIRE / August 15, 2024 / RONN Inc (OTC PINK:RONN) announced that the Company has officially forged a strategic partnership with the Tobique First Nation to develop hydrogen production and infrastructure, with an initial investment of $1 million from the First Nation. Mr. Ford added that this Agreement is expected to evolve into a multi-million-dollar partnership, providing both hydrogen infrastructure sales, ongoing operational income, FCEV truck sales, and future revenues from hydrogen sales.

Mr. Ford continued by stating that the Tobique First Nations plans to maximize the potential use of their new wind farm by working with RONN Inc. to evaluate and potentially produce power for hydrogen production, mirroring a recent significant 430 million dollar partnership between Canada and Germany https://www.cbc.ca/news/canada/newfoundland-labrador/canada-germany-hydrogen-deal-1.7146700.

Julian Moulton stated, "Partnering with RONN INC. to develop hydrogen hubs within New Brunswick, the Tobique Nation, and surrounding areas presents a unique opportunity to capitalize on the growing clean energy market and the Net Zero clean emissions initiative. This initiative promises economic benefits, environmental stewardship, and technological leadership, making it a compelling investment for sustainable future growth."

Mr. Moulton highlighted the importance of hydrogen technologies in achieving a Net Zero environment, and the importance of the execution of this contract following productive discussions with local leaders and industry CEOs. This collaboration is set to involve various stakeholders, including Tobique First Nation taking the lead, local city officials, and private commercial industries to ensure the sustainable growth of the region.

For media inquiries, please contact:

For more information, go to www.ronnmotorgroup.com or contact John Morgan at jmorgan@ronnmotorgroup.com

About RONN, Inc

RONN, Inc. is a forward-thinking company dedicated to making a positive impact on the environmental credit market. With a commitment to innovation and sustainability in the commercialization of Hydrogen in both mobile and stationary sectors, RONN, Inc. strives to create value for both its shareholders and the planet.

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 the partnership between RONN Inc and Tobique First Nation for?

RONN Inc and Tobique First Nation have partnered to develop hydrogen production and infrastructure, with an initial $1 million investment from Tobique First Nation.

How much is the initial investment in the RONN Inc and Tobique First Nation partnership?

The initial investment from Tobique First Nation in the partnership with RONN Inc is $1 million.

What are the potential revenue streams for RONN Inc from this partnership?

RONN Inc expects revenue from hydrogen infrastructure sales, ongoing operational income, FCEV truck sales, and future hydrogen sales.

How does the RONN Inc partnership relate to the Canada-Germany hydrogen deal?

The RONN Inc partnership with Tobique First Nation aims to mirror the recent $430 million Canada-Germany hydrogen deal by potentially producing hydrogen power using Tobique's wind farm.