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Romeo Power (RMO) Stock News, Jan 4-28, 2021

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Rhea-AI Summary

Romeo Power (NYSE: RMO) has formed a Strategic Alliance with Republic Services (NYSE: RSG) to enhance the development of advanced battery technology for electric garbage trucks. This partnership will involve a steering committee to oversee the project and a retrofit test program, removing diesel engines from select vehicles to install electric motors and Romeo Power battery packs, targeting completion by the end of 2021. The initiative aims to promote sustainable transportation and improve fleet electrification for Republic Services.

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Rhea-AI Summary

Heritage Environmental Services and Romeo Power have launched a new fleet electrification program aimed at integrating Battery Electric Vehicles (BEVs) into HES's operations. The initiative plans to select commercial partners for producing BEVs, with the objective of purchasing 500 vehicles by 2025 and electrifying up to 2,000 trucks in the future. US Ecology will also observe the program as it considers its own electrification options for its fleet of 1,100 trucks. This collaboration underscores a commitment to sustainability and innovation in the transportation sector.

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FAQ

What is the market cap of Romeo Power (RMO)?

The market cap of Romeo Power (RMO) is approximately $65.1M.