Latest news with #RonnInc
Associated Press
16-04-2025
- Automotive
- Associated Press
RONN Inc. Secures and Signs Joint Venture in the Kingdom of Saudi Arabia With Expected 90/10 Financial Terms as Phase 2 of Middle East Expansion
SCOTTSDALE, ARIZONA / ACCESS Newswire / April 16, 2025 / Ronn Inc. (OTC PINK:RONN), following its recently announced Phase One Strategic Agreement in the Kingdom of Saudi Arabia, today announced the execution of a Phase Two strategic investment joint venture agreement with prominent Saudi partners. Mr. Ronn Ford, CEO of RONN Inc., stated: 'This agreement outlines a 50/50 Joint Venture structure and a 90/10 financial commitment with a highly respected Saudi infrastructure group. This milestone represents a pivotal advancement in Ronn's strategic expansion into the Middle East and strengthens our positioning as a leader in global hydrogen innovation.' Key Structure of the Joint Venture: Ronn Inc. will contribute executive leadership, intellectual property, proprietary hydrogen technology, and strategic relationships with U.S. manufacturers such as Roush and Magna. ⸻ Mr. Ford continued: 'This JV and the financial commitment arrive at a time when Saudi Arabia is accelerating its multi-trillion-dollar economic transformation, including a publicly announced $1 trillion investment initiative targeting U.S. strategic industries. World-scale hydrogen projects like the $8.4 billion NEOM Green Hydrogen Plant-the largest of its kind-are transforming the global energy landscape. With hydrogen positioned as a cornerstone of Vision 2030, this joint venture is engineered to move at the speed of Saudi ambition.' 'Our partner's commitment to funding 90% of this venture, including boots-on-the-ground support from office setup to manufacturing infrastructure, represents the kind of visionary alignment we've been building toward. Vision 2030 is accelerating. This is the moment-and this is the region. This partnership will help fuel the next era of hydrogen transportation.' Engineer Fouad and his investment team bring decades of experience in infrastructure development, including leadership roles in Saudi Arabia's national high-speed rail systems, industrial city construction, and sovereign-backed innovation corridors. While the partner has requested discretion in public-facing media, their influence in the Kingdom's transformation is well-documented within institutional and government circles. For media inquiries contact: Ronn Ford [email protected] ABOUT RONN MOTOR GROUP Ronn Motor Group has spent over a decade developing a complete line of luxury, high-performance hydrogen-powered vehicles. Its portfolio includes the Q-Series MystSUV (delayed), a line of Class 3-5 Hydrogen Fuel Cell Electric Vehicles (HFCEV), and next-generation hydrogen Hypercars-expected to begin roll-out in 2026. Ronn Motor Group's headquarters are in Scottsdale, Arizona. Its Engineering and Innovation Center is scheduled to open in Detroit in late 2025. ⸻ Forward-Looking Statements: This release may contain forward-looking statements relating to future events or anticipated performance. Actual results may differ materially due to various risk factors, including but not limited to changes in market conditions, regulatory environments, final deal execution, manufacturing delays, and geopolitical events. Ronn Inc. undertakes no obligation to revise or update any forward-looking statements publicly. SOURCE: RONN Inc. press release
Associated Press
09-04-2025
- Automotive
- Associated Press
Ronn Inc. Executes And Launches Phase One Agreement in Saudi Arabia, Accelerating Hydrogen Technology and Strategic Investment
SCOTTSDALE, AZ / ACCESS Newswire / April 9, 2025 / Ronn Inc. (OTC PINK:RONN), A global innovator in hydrogen mobility and clean energy infrastructure, announced today that it has entered into a Strategic Commercial Market Access Agreement with a respected international intermediary group specializing in Saudia Arabia with early-stage relationship development between high-growth technology firms and sovereign infrastructure partners. This agreement represents Phase One of a broader framework intended to position Ronn Inc. for a long-term financial and technology partnership across both the United States and the Kingdom of Saudi Arabia. 'It will establish our manufacturing and production in Saudi Arabia as well as the US where the collaboration with Saudi Arabia is a powerful collaboration at this time,' said Ronn Ford, CEO of Ronn Inc. The discussions currently underway are aimed at forming a 50/50 regional joint venture, which would establish a significant operating presence for Ronn Inc. within the Kingdom. 'Our team is proud to be building what we believe will become a transformational long-term alliance,' said Ronn Ford, CEO of Ronn Inc. 'Saudi Arabia continues to demonstrate visionary leadership in innovation, infrastructure, and energy transformation. We are honored to be invited into this dialogue and to contribute to the country's dynamic Vision 2030 roadmap.' The proposed joint venture in The Kingdom Of Saudi Arabia is expected to focus on localized manufacturing and regional deployment of Ronn Inc.'s hydrogen technologies, including hydrogen-powered supercars, commercial mobility platforms, hydrogen trucks, and modular fueling infrastructure. These initiatives are fully aligned with the Kingdom's Vision 2030 strategy and its multi-sector commitment to hydrogen as a central pillar of its future energy landscape. The announcement follows recent news of Saudi Arabia's intent to commit over one trillion dollars in U.S. strategic investments, reinforcing the deepening collaboration between both nations in advanced technologies and industrial innovation. Phase 1: Current planning includes the establishment of a regional headquarters in the Kingdom, in collaboration with a group of strategic partners with proven success in rail technology, real estate, transportation, and public-private mega infrastructure. Further details on phase 2 and phase 3 in Saudi Arabia will be disclosed as the joint venture structure and operating scope are finalized. Forward-Looking Statements This press release contains forward-looking statements subject to inherent risks and uncertainties. Actual results may vary materially due to numerous factors beyond the company's control. RONN Inc. undertakes no obligation to revise or update these statements unless legally required publicly.
