PITA Heramba Electric PLC

Heramba Electric plc (NASDAQ: PITA), a global technology company focused on decarbonizing public and commercial transportation, announced that its wholly owned subsidiary, Kiepe Electric, is contributing to a new regional public transit initiative. The project, known as DRAISY, is a very light, powerful railbus developed by French railway operator SNCF and transport system manufacturer LOHR. Kiepe Electric will supply the highly efficient, energy-saving traction system, which includes the Kiepe Traction Inverter (KTI) and electric motors.

Ulrich Lauel, Global Head Rail Systems at KIEPE, said, "The DRAISY project fits in with KIEPE's mission, because we want to create an emission-free future with innovative, reliable and environmentally friendly mobility solutions. I welcome the diversity in regional public transit, as embodied by the DRAISY light train. Especially in rural areas, it is not just about faster, stronger, further - what is needed are economical and reliable solutions for sustainable passenger transport. Our team is enthusiastically working on this in this very innovative light train project."

Economical rail transport in rural areas

The DRAISY project consists of a very light, 14-meter-long passenger train. This rail vehicle is intended to give new impulse to shorter railway lines in rural areas. In France, it is estimated that there are almost 9,000 kilometers of such local routes in rural communities. Given this potential, it is hardly surprising that the project won in the "Digitization and decarbonization of rail transport" category as part of the fourth edition of the French government's Future Investment Program. In addition to SNCF and LOHR, the winning project team includes partners GCK Battery, Stations-e and IRT Railenium.

100% battery-powered electric light train

The DRAISY railbus is a battery-powered electric passenger train with a range of 150 kilometers that can be quickly charged in stations along the route without affecting passenger service. The train, with a top speed of 100 km/h, has space for up to 80 passengers. The vehicle weight of 20 tons is only about two thirds of a conventional regional railcar. The DRAISY concept assumes significantly lower operating and maintenance costs compared to current regional trains. The vehicle includes a large number of components and systems that are already available on the market, such as the KIEPE traction package with traction inverter. DRAISY is expected to be in operation in Alsace from 2026.

Kiepe Traction Inverter (KTI) from KIEPE

The compact Kiepe Traction Inverter (KTI) achieves a high-power density through efficient semiconductor technology and can be used universally. The intelligent control system benefits from the new Kiepe Traction Control (KTC), a motor control system to increase the performance of the drive train. The KTI, like the entire new generation of Kiepe Electric traction devices for electrically powered vehicles, can be integrated into Kiepe Fleet Management (KFM). The KFM digital solution supports the planning of predictive services and repairs with collected and evaluated vehicle data.

The compact Kiepe Traction Inverter (KTI) is designed for rail vehicles and reliably drives the electric motors of the DRAISY train. | © LOHR-HAIKU DESIGN

"The DRAISY project is a groundbreaking step toward sustainable and efficient public transit," said Michele Molinari, CEO of Heramba Electric. "By leveraging Kiepe Electric's innovative traction technology, SNCF and LOHR are decarbonizing transportation and bringing a cost-effective, battery-powered solution to rural railway lines. This project exemplifies our commitment to driving the future of clean mobility with reliable, forward-thinking technologies."

About Heramba Electric

Heramba Electric is a special-focused company dedicated to accelerating decarbonized commercial transportation. Focused on innovation and impactful developments, our vision is to help the world seamlessly shift towards green mobility. Our investments in sustainable, clean energy providers support Heramba Electric’s mission to abate this transportation sector’s contribution to global greenhouse gas emissions (GHGs). Heramba Electric is the parent company of Kiepe Group, an international pioneer in electric mobility for rail vehicles and buses. For more information on Heramba Electric plc visit our website at www.herambaelectric.com.

KIEPE, with headquarter in Düsseldorf and subsidiaries in Austria, Canada, Italy, Switzerland and the USA, is known worldwide for its efficient and ecologically sustainable electrical equipment. The company has been offering solutions for light rail, subways, regional trains, locomotives and electric buses with In Motion Charging (IMC) and High-Power Charging (HPC) since 1906. In addition, KIEPE provides charging systems for various applications. Kiepe Electric GmbH is a company of Heramba Electric plc. For more information on Kiepe Electric visit our website at https://kiepe.knorr-bremse.com/en/de/.

Cautionary Statement Regarding Forward-Looking Statements 

Certain statements included in this communication that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or events that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the plans and objectives of management for future operations, business strategy, anticipated growth and market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Heramba Electric management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Heramba Electric. These forward-looking statements are subject to a number of risks and uncertainties, including (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) the ability to continue to meet stock exchange listing standards following the consummation of the Business Combination; (iii) failure to realize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (iv) changes in applicable law or regulations; (v) the outcome of any legal proceedings that may be instituted against Heramba Electric, PERAC or Heramba; (vi) the effects of competition on Heramba Electric's future business; (vii) the ability of Heramba Electric to finance future operations; (viii) the enforceability of Heramba Electric's intellectual property rights, including its copyrights, patents, trademarks and trade secrets, and the potential infringement on the intellectual property rights of others; and (ix) those factors discussed under the heading "Risk Factors" in the definitive proxy statement/prospectus filed on March 19, 2024 by Heramba Electric and other documents filed, or to be filed, by Heramba Electric with the U.S. Securities and Exchange Commission. If any of these risks materialize or the assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Heramba Electric does not presently know or that Heramba Electric currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

In addition, forward-looking statements reflect Heramba Electric's plans or forecasts of future events and views as of the date of this communication. Heramba Electric anticipates that subsequent events and developments may cause Heramba Electric's assessments to change. However, while Heramba Electric may elect to update these forward-looking statements at some point in the future, Heramba Electric specifically disclaims any obligation to do so. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Accordingly, undue reliance should not be placed upon the forward-looking statements.

For further information and inquiries, please contact:

MediaParagon PRSimon Hylson-Smithheramba@paragonpr.com

InvestorsHayden IR James Carbonara (646)-755-7412james@haydenir.com

Atlanta Capital Partners, LLCDavid L. Kugelman(866) 692-6847 Toll Free - U.S. & Canada(404) 281-8556 Mobile and WhatsAppdk@atlcp.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f8e550a-988f-453a-9acf-7074dd99a12b