Budget Approval Expected Saturday for RONN Inc.-Saudi Arabia Hydrogen Joint Venture

Rhea-AI Summary

RONN Inc. (OTC PINK:RONN), a U.S.-based hydrogen technology company, is set to meet with its Saudi Arabian joint venture partners on Saturday to finalize the budget for "RONN Saudi Arabia". The venture's budget is expected to be valued between high eight to nine figures, with a 90/10 financing structure where Saudi partners will provide the majority of funding.

The joint venture aligns with Saudi Arabia's Vision 2030 goals, focusing on hydrogen mobility, infrastructure, and manufacturing initiatives. RONN Inc. will concentrate on hydrogen technology development and engineering, while Saudi leadership will manage regional infrastructure and regulatory aspects.

Positive

• Significant funding potential in high eight to nine-figure range
• 90/10 financing structure minimizes capital requirements for RONN Inc.
• Strategic alignment with Saudi Arabia's Vision 2030 goals
• Access to Saudi Arabian market and infrastructure

Negative

• Heavy dependence on Saudi partners for funding (90% of capital)
• Budget not yet approved, indicating execution uncertainty
• Limited control with minority stake in the venture

RIYADH, SAUDI ARABIA AND SCOTTSDALE, AZ / ACCESS Newswire / May 1, 2025 / RONN Inc. (OTC PINK:RONN), a U.S.-based hydrogen technology innovator, announced today that it will meet with its Saudi Arabian joint venture partners this Saturday to finalize and approve the budget for the newly formed "RONN Saudi Arabia" venture.

This pivotal meeting represents the final step in aligning both parties on the near- and long-term capital deployment strategy for the joint venture, which is expected to be valued in the high eight to nine-figure range. CEO Ronn Ford confirmed that the RONN Inc. executive team will present a comprehensive draft budget during the session, with official approval and sign-off anticipated by the conclusion of the meeting.

The joint venture is structured with a 90/10 financing model, with Saudi partners providing the majority of funding. This strategic arrangement allows RONN Inc. to focus on hydrogen technology development, engineering, and rapid deployment, while Saudi leadership manages regional infrastructure and regulatory pathways.

"This meeting marks a critical milestone in moving from framework to execution," said Ford. "Both teams are aligned in vision-and this budget is the tool that will accelerate our shared mission into action."

RONN Inc. and its Saudi partners are working closely to ensure the joint venture reflects the Kingdom's Vision 2030 goals. With hydrogen playing a central role in Saudi Arabia's national energy transition, the joint venture is expected to contribute meaningfully to regional hydrogen mobility, infrastructure, and manufacturing initiatives.

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About RONN Inc.
RONN Inc. is a U.S.-based hydrogen technology company focused on developing zero-emission hydrogen fuel cell vehicles, modular infrastructure, and high-performance supercars. The company is committed to scalable innovation, sustainable energy solutions, and global partnerships that accelerate the hydrogen economy.

Forward-Looking Statements
This press release contains forward-looking statements, including projections and estimates, which are subject to risks and uncertainties. Actual results may differ materially due to various factors. RONN Inc. undertakes no obligation to update these statements except as required by law.

Contact:
Ronn Ford, CEO
Ronn.ford@ronnmotorgroup.com
Social Media: @ronnmotorgroup on X
Website: www.ronnmotorgroup.com

SOURCE: RONN

View the original press release on ACCESS Newswire

FAQ

What is the expected budget size for RONN Inc.'s Saudi Arabia joint venture?

The joint venture's budget is expected to be valued in the high eight to nine-figure range.

How is the RONN Saudi Arabia joint venture financing structured?

The joint venture follows a 90/10 financing model, with Saudi partners providing 90% of the funding while RONN Inc. contributes 10%.

What is RONN Inc.'s role in the Saudi Arabian joint venture?

RONN Inc. will focus on hydrogen technology development, engineering, and rapid deployment, while Saudi partners manage regional infrastructure and regulatory pathways.

How does the RONN Saudi Arabia venture align with Saudi Vision 2030?

The venture aligns with Vision 2030 by contributing to Saudi Arabia's hydrogen mobility, infrastructure, and manufacturing initiatives as part of the kingdom's energy transition.

When will RONN Inc. finalize the Saudi Arabia joint venture budget?

The budget is expected to be approved and finalized during a meeting with Saudi partners on Saturday, May 4, 2025.