100,000,000 Euro Commitment Sends Shares Of This Microcap Hydrogen Automaker Soaring
Date
5/16/2024 3:36:20 PM
(MENAFN- Yolo Wire) As the world looks to sustainability, the %Hydrogen car market is projected to grow at a CAGR of over 28% by 2035-and this global zero-emission hydrogen fuel cell automaker just signed a memorandum of understanding (MOU) for a huge investment.
After several months of due diligence, RONN, Inc. (OTC: $RONN) announced in a press release today the signing of a MOU, providing 100,000,000 euro in total financial capital commitment. The funds are for a strategic investment advancing hydrogen commercialization globally, including HFCV vehicles and hydrogen hub development.
RONN's CEO, Ron Ford, 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 hydrogen truck development operations, and First Nations hub project. The second 50 million euros will target complementary hydrogen companies and hydrogen technologies for investment or acquisition.
RONN provides research and development on various applications of H2H-patented products and patented storage solutions that could extend the range of hydrogen logistic vehicles. Founded in 2013, the firm is a multinational zero-emission Hydrogen Fuel Cell Electric Automaker and sustainable hydrogen stationary company. The firm is currently designing and engineering a stellar roadmap of passenger and commercial vehicles. Shares were trading up 150 percent in afternoon trade at $0.0025.
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