Xylo Technologies: Revoltz to Launch an Innovative Three-Wheel Electric Cargo Bike for European and UK Markets
14 August 2024 - 11:22PM
Xylo Technologies Ltd. (Nasdaq: XYLO) (“Xylo” or the “Company”), a
technology-based company engaged in advanced innovative
technologies, announced today that Revoltz Ltd (“Revoltz”), which
is 19.9% held by Charging Robotics, Inc. (OTC: CHEV) (“Charging
Robotics”), a Delaware corporation quoted on the OTC Market (67%
owned by Xylo), has developed a new, three-wheel, electric cargo
bike tailored for the European and UK markets. Building on the
success of Revoltz’s PORTO micro-EV, this new bike is designed to
offer enhanced stability, increased payload capacity, and
high-caliber safety features, making it fit for urban
transportation and commercial applications.
Revoltz has integrated its advanced full-tilting
suspension system, also implemented in the PORTO, into this new
three-wheel electric cargo bike, ensuring a smooth and balanced
ride, even with bulky loads. This product meets European and UK
regulatory standards and aims to address various urban
transportation challenges in the respective urban areas.
The three-wheel design enhances stability and
maneuverability, particularly when carrying heavy loads. Equipped
with pedals and an electric motor, the electric cargo bike combines
manual and assisted pedaling for an efficient and eco-friendly
ride. Its larger cargo area and higher payload capacity make it
ideal for transporting goods, groceries, parcels, and larger items.
The added stability makes the bike accessible for novice riders or
those less confident in cycling, while the improved safety
features, such as a lower center of gravity, enhance safety both in
traffic and on uneven terrain. The bike's versatile configurations,
including front-loaders, rear-loaders, and side-loaders, allow
customization by individual riders for different transportation
needs. As an eco-friendly alternative to motor vehicles, the bike
aims to help reduce emissions and promote sustainable
transportation, making it a fit for urban delivery service industry
workers.
Revoltz expects the first prototype to be ready
within the next three months, with commercialization anticipated
for early 2025.
About XyloBased in Israel,
Xylo Technologies Ltd. (Nasdaq: XYLO) is a technologies company
that is focused on innovative growth partnerships, mainly in
advanced medical solutions, digital commerce, and electric vehicle
markets. Xylo’ affiliations in the medical solutions arena include
the ownership in Polyrizon Ltd. The Company’s affiliates in digital
commerce include Gix Internet Ltd., and Eventer Technologies Ltd.
In the electric vehicle market, Charging Robotics, Inc. and Revoltz
Ltd. are also part of the Company’s portfolio of technology
solution providers. Other affiliations of the Company include
Parazero Technologies Ltd. and Zig Miami 54 LLC.
Xylo is traded on The Nasdaq Capital Market. To
learn more about Xylo’s advanced technologies, please visit
https://ir.xylotech.ai/.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. Because such statements deal with
future events and are based on Xylo’ current expectations, they are
subject to various risks and uncertainties, and actual results,
performance or achievements of Xylo could differ materially from
those described in or implied by the statements in this press
release. For example, Xylo uses forward looking statement when
describing the fit of Revoltz’s new design for urban transportation
and commercial applications, the availability of a prototype within
three months and the commercialization of the bike by 2025.
The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed in any filings with the
SEC. Except as otherwise required by law, Xylo undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Xylo is not
responsible for the contents on third-party websites.
Company Contact:Tali DinarChief Financial
Officerir@xylotech.ai
Investor Relations Contact:Michal
EfratyInvestor Relations,michal@efraty.com
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