Damon Completes First Major Milestone in HyperSport Race Program with Engines Engineering

Rhea-AI Summary

Damon Inc. (OTC: DMNIF) has achieved a significant milestone in its HyperSport Race (HS Race) development program, completing the Concept Definition Phase in partnership with Italian firm Engines Engineering. The phase delivered a full 3D digital model, finalized technical specifications, preliminary Bill of Materials, system architecture, and dashboard integration. The company outlined an 11-phase development roadmap through Q2 2026, including critical stages like 3D Design Engineering, Electric Motor development, and Battery Production. Damon is leveraging its modular technology platform and Damon I/O technology to keep development costs below industry standards. Beyond motorcycles, the company is expanding into four core verticals: Data Intelligence, Personal Mobility, Licensing & Engineering Services, and Special Projects. The initial product remains on schedule for 2026 launch.

Positive

• Partnership with renowned Italian firm Engines Engineering to accelerate innovation and enhance efficiency
• Development costs expected to be well below traditional industry benchmarks through modular technology
• Successful completion of Concept Definition Phase on schedule
• Diversification into multiple revenue streams through four core business verticals
• Project timeline remains on track for 2026 product launch

Negative

• Product launch not expected until 2026, indicating a lengthy development timeline
• Multiple complex development phases still pending completion
• Trading on OTC Pink market rather than major exchange

Insights

Electric Mobility Development Engineer

Damon's HyperSport Race milestone shows solid development progress, but remains in early conceptual phase with actual product still a year away.

Damon has reached a significant technical milestone by completing the Concept Definition Phase of its HyperSport Race electric motorcycle program. This initial phase establishes the foundational elements necessary for development, including the full 3D digital model, technical specifications, preliminary bill of materials, system architecture, and dashboard integration.

From a technical perspective, this milestone represents completion of the planning and conceptual stage rather than a physical prototype achievement. The completed work provides the blueprint for the motorcycle's development but doesn't yet demonstrate functional capabilities or validate performance claims. Their partnership with Engines Engineering, an established Italian firm with racing expertise, should help accelerate development while potentially reducing capital requirements compared to building in-house capabilities from scratch.

Looking at their projected timeline, Damon has outlined 11 remaining phases extending through Q2 2026 when engineering vehicle tests are scheduled. Key technical development work on electric motor, motor control unit, and architecture and electronics is targeted for completion in 2H 2025. Physical components including prototype parts, vehicle control unit, and battery production are scheduled for Q1 2026.

What's particularly notable is Damon's explicit shift to position itself beyond just motorcycles, targeting broader personal mobility and technology markets with its Damon I/O platform. This suggests they're developing their electric motorcycle technology as a proving ground for a more expansive business strategy spanning Data Intelligence, Personal Mobility, Licensing & Engineering Services, and Special Projects.

From a development standpoint, while the milestone is meaningful, the company remains in early stages with significant engineering work ahead before a functional prototype exists. The real validation milestones will come with battery validation and engineering vehicle tests projected for Q2 2026.

• Successfully completes HyperSport Race Concept Definition Phase on schedule
• Provides Upcoming Milestones and Timelines
• Strategic partnership with Engines Engineering intended to accelerate innovation and capital efficiency
• Technical groundwork set for anticipated rapid execution of engineering and prototyping phases
• Broadening business model beyond motorcycles, targeting multiple personal mobility and technology markets

VANCOUVER, BC, May 28, 2025 /PRNewswire/ - Damon Inc. (OTC PINK: DMNIF) ("Damon" or the "Company"), a designer and developer of electric motorcycles and other personal mobility products that seek to empower the personal mobility sector through innovation, today announced a major milestone in its accelerated HyperSport Race ("HS Race") development program. In collaboration with renowned Italian engineering firm Engines Engineering, Damon has successfully completed the foundational Concept Definition Phase of the HS Race project, establishing a basis for rapid, capital-efficient innovation and technology validation. Initial product is expected to remain on schedule for 2026.

Concept Definition Phase reaching 100% complete included:

• Full 3D digital model of the HS Race, defining geometry, dimensions, and key structural components.
• Finalized technical specifications, establishing performance benchmarks for power, speed, battery, and safety.
• Preliminary Bill of Materials (BOM) created for efficient sourcing and production planning.
• Motorcycle system architecture mapped out, integrating power, electronics, and controls.
• Dashboard system selected and integrated, designed to deliver an intuitive rider experience.

This foundational work is expected to provide a robust platform for all subsequent engineering and manufacturing activities.

"We believe the HyperSport Race program provides an optimal platform for rapid validation of our HyperSport technology stack," said Dom Kwong, Interim CEO of Damon. "Our partnership with Engines Engineering, whose racing expertise is helping us push the boundaries of electric powertrain performance, is intended to accelerate our execution and enhance efficiency.  Completing the Concept Definition Phase marks a significant milestone, laying the groundwork for accelerated engineering and prototyping of the HyperSport Race."

Upcoming Milestones and Timeline

The key upcoming phases and expected timeline of the HS Race program are as follows:

Phase	Expected Completion: Quarters based on a 12/31 Calendar
3D Design Engineering	2H 2025
Electric Motor & Motor Control Unit	2H 2025
Architecture and Electronics	2H 2025
Computational Fluid Dynamics (CFD)	Q4 2025
Prototype Part Production	Q1 2026
Vehicle Control Unit (VCU)	Q1 2026
Battery Production	Q1 2026
Charger Integration	Q1 2026
Styling & Bodywork	Q2 2026
Battery Validation	Q2 2026
Engineering Vehicle Tests	Q2 2026

Damon plans to provide updates as each milestone is reached, reflecting its commitment to transparency and accountability as the Company progresses through its 12-phase development roadmap. With phase 1 complete, initial product is expected to remain on schedule for 2026.

By leveraging its modular technology platform, proprietary Damon I/O technology and partnership with Engines Engineering, Damon has streamlined expected development costs to be well below traditional industry benchmarks. Damon expects the HyperSport Race program to serve as a technology demonstrator for its advanced electric powertrain, AI-enabled safety systems, and the Damon I/O data intelligence platform, validating them in high-performance, real-world conditions.

Damon's operational focus extends well beyond motorcycles. The Company's mission is to power sustainability and safety through next-generation personal mobility products and intelligent data solutions. The Damon I/O technology enables real-time data collection and contextual analysis across its products, creating new opportunities for licensing, data-driven services, and expanded revenue streams.

Progress with our HS Race program supports Damon's execution of its diversified business plan, which is centered on four core verticals: Data Intelligence, Personal Mobility, Licensing & Engineering Services, and Special Projects. We believe Damon's focus on sustainable transportation solutions, proprietary safety technologies, and operational efficiency positions the company strongly for future growth and value creation.

About Damon

Damon Inc. is a designer and developer of personal mobility products and technology solutions that integrate AI-driven safety systems, smart electrification, and user-driven design to revolutionize sustainable transportation. Operating across four potential revenue verticals - Data Intelligence & Services, Engineering Services, Personal Mobility Products, and Special Projects – Damon believes it is positioned to capture a significant share of the $40B global electric two-wheeler market by 2030¹. The company distinguishes itself through its integrated ecosystem approach, combining advanced data analytics, engineering expertise, and strategic partnerships with OEMs and Tier 1 suppliers. Damon emphasizes accessible mobility solutions while leveraging its proprietary AI-driven safety systems and intelligent energy management technology to deliver superior performance and operational efficiency in the urban and business mobility space. For more information, please visit damon.com.

1 Source McKinsey Report on Micromobility (2022)

FORWARD LOOKING STATEMENTS

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements") that reflect current expectations and projections of Damon Inc. ("Damon") about its future development. When used in this press release, forward-looking statements can be identified by the use of words such as "may," or by such words as "will," "intend," "believe," "estimate," "consider," "expect," "anticipate," and "objective" and similar expressions or variations of such words. Forward-looking statements in this press release include, but are not limited to, statements relating to our strategic initiatives, the anticipated development timeline, expected benefits, and cost efficiencies of the HS Race program, revenue expansion plans, business model evolution, and expected efficiency improvements and growth. Forward-looking statements are, by their nature, not guarantees of Damon's future operational or financial performance and are subject to risks and uncertainties and other factors that could cause Damon's actual results, performance, prospects, or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. No representation or warranty is intended with respect to anticipated future results, or that estimates, or projections will be sustained.

In developing the forward-looking statements in this press release, we have applied several material assumptions, including the general business and economic conditions of the industries and countries in which Damon operates, and general market conditions. Many risks, uncertainties, and other factors could cause the actual results of Damon to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to, our history of losses, our ability to implement our growth strategy, generate revenue and achieve profitability, our limited operating history with recent acquisitions, our ability to obtain adequate financing as needed, our ability to continue as a going concern, our status as a foreign private issuer, impact of our recent delisting from Nasdaq, our ability to establish and sustain an active trading market on an over-the-counter market maintained by OTC Markets Group Inc., customer demand for or acceptance of our products and services, the impact of competitive or alternative products, technologies, and pricing, emerging competition and rapidly advancing technology that may outpace our own, our ability to manufacture or distribute products and secure strategic supply and manufacturing arrangements, our ability to protect our intellectual property, impact of any changes in existing or future regulatory and tax regimes applying to our business, our ability to successfully consummate strategic transactions and integrate companies or technologies we acquire, our ability to attract and retain management and employees with specialized knowledge and technical skills, our ability to develop and maintain effective internal controls, general economic conditions and events and the impact they may have on us and our customers, including but not limited to escalating tariff and non-tariff trade measures imposed by the United States and other countries, increases in inflation rates and rates of interest, supply chain challenges, increased costs for materials and labor, cybersecurity threats, and conflicts such as those in Russia/Ukraine and Israel/Hamas, our success at managing the risks involved in the foregoing items, and other risk factors discussed in our periodic and current reports and registration statements filed with the U.S. Securities and Exchange Commission and the British Columbia Securities Commission.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of the press release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, events may differ materially from current expectations. Damon disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required pursuant to applicable securities law. All forward-looking statements contained in the press release are expressly qualified in their entirety by this cautionary statement. 

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SOURCE DAMON Motors Inc.

FAQ

What is the expected launch date for Damon's HyperSport Race motorcycle (DMNIF)?

The HyperSport Race motorcycle is expected to launch in 2026, following completion of an 11-phase development roadmap.

What are the four core business verticals of Damon (DMNIF)?

Damon's four core business verticals are Data Intelligence, Personal Mobility, Licensing & Engineering Services, and Special Projects.

What has been completed in the Concept Definition Phase of Damon's HyperSport Race program?

The Concept Definition Phase included a full 3D digital model, finalized technical specifications, preliminary Bill of Materials, motorcycle system architecture mapping, and dashboard system integration.

Who is Damon's development partner for the HyperSport Race program?

Damon is partnering with Engines Engineering, a renowned Italian engineering firm, for the HyperSport Race development program.

What are the key development phases planned for Damon's HyperSport Race in 2025-2026?

Key phases include 3D Design Engineering, Electric Motor & Motor Control Unit development, Architecture and Electronics (2H 2025), followed by Battery Production, Charger Integration, and Engineering Vehicle Tests through Q2 2026.