Romeo Power Announces Shipment of First Production Pedigree Packs to Key Customer
30 March 2022 - 7:15AM
Business Wire
Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO),
an energy technology leader delivering advanced electrification
solutions for complex commercial vehicle applications, today
announced that it has begun shipping the first production pedigree
packs to a key customer that manufactures fully electric heavy-duty
commercial vehicles.
This successful production launch is the culmination of a custom
pack development program using Romeo’s off-the-shelf modules and
battery management system. The 80 kWh packs were prototyped and
manufactured in Romeo’s 112,000 square foot factory in Vernon,
California.
“Romeo has just achieved a major milestone, not only for
ourselves, but for zero-emissions commercial transportation as a
whole. Our energy-dense batteries now power fully electric
heavy-duty vehicles that are expected to travel up to 350 miles on
a single charge,” said Susan Brennan, Romeo’s Chief Executive
Officer. “It’s thrilling to see our battery technology enable this
important step in electrification.”
Romeo will continue to expand production capacity for this and
other customers in its new Cypress factory. Production is scheduled
to commence in the new factory later this year with the transition
from Vernon to Cypress expected to be completed during the third
quarter of 2022.
About Romeo Power, Inc.
Founded in 2016 and headquartered in Los Angeles, California,
Romeo Power (NYSE: RMO) is an energy technology leader delivering
advanced electrification solutions for complex commercial vehicle
applications. The Company’s suite of advanced battery electric
products, combined with its innovative battery management system,
delivers the safety, performance, reliability and configurability
its customers need to succeed. To keep up with everything Romeo
Power, please follow the Company on social media @romeopowerinc or
visit www.romeopower.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward
looking statements” within the meaning of the “safe harbor”
provisions of the United States Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
“estimates,” “projected,” “expects,” “anticipates,” “forecasts,”
“plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,”
“future,” “propose” and variations of these words or similar
expressions (or the negative versions of such words or expressions)
are intended to identify forward-looking statements. These
forward-looking statements, including, without limitation, express
or implied statements concerning Romeo Power’s ability to develop
or sell new products, or to pursue customers in new product or
geographic markets, Romeo Power’s expectations regarding its future
financial performance, the demand for safe, effective, affordable
and sustainable EV products, Romeo Power’s ability to produce and
deliver such products on a commercial scale, and Romeo Power’s
expectations that its customers will adhere to contracted purchase
commitments on the currently expected timeframe are not guarantees
of future performance, conditions or results, and involve a number
of known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside Romeo Power’s
management’s control, that could cause actual results or outcomes
to differ materially from those discussed in the forward-looking
statements. Important factors, among others, that may affect actual
results or outcomes include: Romeo Power’s ability to execute on
its plans to develop and market new products and the timing of
these development programs; Romeo Power’s ability to increase the
scale and capacity of its manufacturing processes; Romeo Power’s
estimates of the size of the markets for its products; the rate and
degree of market acceptance of Romeo Power’s products; the success
of other competing technologies that may become available; Romeo
Power’s ability to identify and integrate acquisitions; Romeo
Power’s potential need for and ability to secure additional
capital; the performance of Romeo Power’s products and customers;
potential litigation involving Romeo Power; demand for battery
cells and supply shortages; the potential effects of COVID-19; and
general economic and market conditions impacting demand for Romeo
Power’s products. You should carefully consider the foregoing
factors and the other risks and uncertainties described in the
Company’s filings with the SEC. If any of these risks materialize
or our assumptions prove incorrect, actual results could differ
materially from those implied by our forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Romeo Power undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220329005797/en/
For Investors: Joe Caminiti or Ashley Gruenberg Alpha IR
Group RMO@alpha-ir.com 312-445-2870
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