Ronn Inc. Partners with Saudi Arabia for Hydrogen Technology Expansion
Key Ideas
  • Ronn Inc. has initiated a Strategic Commercial Market Access Agreement with an intermediary group in Saudi Arabia, forming a joint venture to manufacture and deploy hydrogen technologies locally.
  • The partnership involves the production of hydrogen-powered supercars, commercial mobility platforms, hydrogen trucks, and modular fueling infrastructure, aligning with Saudi Arabia's Vision 2030 strategy.
  • The agreement signifies a significant investment by Saudi Arabia, with plans to establish a regional headquarters and collaborate with partners experienced in rail technology, real estate, transportation, and public-private mega infrastructure.
  • Details on subsequent phases of the partnership will be disclosed as the joint venture structure progresses.
Ronn Inc., a company listed under OTC PINK:RONN, has recently announced a Strategic Commercial Market Access Agreement with an international intermediary group in Saudi Arabia. This agreement marks the initiation of Phase One in a larger partnership framework, aiming to create a 50/50 regional joint venture focused on manufacturing and deploying Ronn's hydrogen technologies in Saudi Arabia and the United States. The joint venture will involve the production of hydrogen-powered supercars, commercial mobility platforms, hydrogen trucks, and modular fueling infrastructure. These efforts are in line with Saudi Arabia's Vision 2030 strategy, showcasing a commitment to investing over one trillion dollars in U.S. strategic investments. Phase One of the agreement includes setting up a regional headquarters in Saudi Arabia and collaborating with strategic partners experienced in rail technology, real estate, transportation, and public-private mega infrastructure projects. As the joint venture structure evolves, further details about the subsequent phases, namely Phase 2 and Phase 3, will be revealed. This collaboration represents a significant step towards advancing hydrogen technology and strategic investments between Ronn Inc. and Saudi Arabia.
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