RONN Inc. has announced a significant joint venture agreement with a Saudi Arabian infrastructure group, setting the stage for its Phase Two expansion in the Middle East. The agreement entails a 50/50 equity ownership structure with the Saudi partner committing to providing 90% of the funding for the joint venture. This financial support is crucial for infrastructure development, including the setup of offices and manufacturing facilities in the U.S. and Saudi Arabia. The joint venture's key focus areas will encompass the development of Class 3-6 hydrogen logistic truck prototypes in collaboration with Roush, as well as the advancement of Hypercar technology for both the U.S. and Saudi markets. Ronn Inc. will bring to the table executive leadership, proprietary hydrogen technology, and strategic relationships with leading manufacturers like Roush and Magna. This strategic partnership is in alignment with Saudi Arabia's Vision 2030 and its ambitious $1 trillion investment initiative, which places a strong emphasis on fostering strategic industries such as hydrogen energy. Initiatives like the NEOM Green Hydrogen Plant project, with investments reaching $8.4 billion, demonstrate the Kingdom's commitment to spearheading hydrogen innovation globally. Mr. Ronn Ford, CEO of RONN Inc., expressed the significance of this joint venture, highlighting its role in advancing Ronn's Middle East expansion plans and solidifying the company's position as a pioneer in global hydrogen innovation. He emphasized the Saudi partner's substantial commitment to funding, expected to drive the acceleration of hydrogen transportation technology in accordance with the Vision 2030 roadmap.