Ronn Inc. Executes And Launches Phase One Agreement in Saudi Arabia, Accelerating Hydrogen Technology and Strategic Investment
Rhea-AI Summary
Ronn Inc. (OTC PINK:RONN) has entered into a Strategic Commercial Market Access Agreement with an international intermediary group in Saudi Arabia, marking Phase One of a broader partnership framework. The agreement aims to establish a 50/50 regional joint venture, focusing on localized manufacturing and deployment of Ronn's hydrogen technologies in both Saudi Arabia and the US.
The venture will encompass hydrogen-powered supercars, commercial mobility platforms, hydrogen trucks, and modular fueling infrastructure. The initiative aligns with Saudi Arabia's Vision 2030 strategy and follows the kingdom's announcement to invest over one trillion dollars in U.S. strategic investments.
Phase 1 includes establishing a regional headquarters in Saudi Arabia, collaborating with strategic partners experienced in rail technology, real estate, transportation, and public-private mega infrastructure. Details on phases 2 and 3 will be disclosed as the joint venture structure is finalized.
Positive
- Strategic 50/50 joint venture agreement with Saudi Arabia expands market presence
- Access to Saudi Arabia's trillion-dollar U.S. strategic investment initiative
- Establishment of manufacturing facilities in both Saudi Arabia and US markets
- Alignment with Saudi Vision 2030 provides long-term growth opportunities
Negative
- Early-stage agreement with details of phases 2 and 3 still pending
- Execution risks in establishing manufacturing operations in new market
- Dependent on successful finalization of joint venture structure
News Market Reaction
On the day this news was published, RONN declined 50.00%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SCOTTSDALE, AZ / ACCESS Newswire / April 9, 2025 / Ronn Inc. (OTC PINK:RONN), A global innovator in hydrogen mobility and clean energy infrastructure, announced today that it has entered into a Strategic Commercial Market Access Agreement with a respected international intermediary group specializing in Saudia Arabia with early-stage relationship development between high-growth technology firms and sovereign infrastructure partners.
This agreement represents Phase One of a broader framework intended to position Ronn Inc. for a long-term financial and technology partnership across both the United States and the Kingdom of Saudi Arabia. "It will establish our manufacturing and production in Saudi Arabia as well as the US where the collaboration with Saudi Arabia is a powerful collaboration at this time," said Ronn Ford, CEO of Ronn Inc. The discussions currently underway are aimed at forming a 50/50 regional joint venture, which would establish a significant operating presence for Ronn Inc. within the Kingdom.
"Our team is proud to be building what we believe will become a transformational long-term alliance," said Ronn Ford, CEO of Ronn Inc. "Saudi Arabia continues to demonstrate visionary leadership in innovation, infrastructure, and energy transformation. We are honored to be invited into this dialogue and to contribute to the country's dynamic Vision 2030 roadmap."
The proposed joint venture in The Kingdom Of Saudi Arabia is expected to focus on localized manufacturing and regional deployment of Ronn Inc.'s hydrogen technologies, including hydrogen-powered supercars, commercial mobility platforms, hydrogen trucks, and modular fueling infrastructure. These initiatives are fully aligned with the Kingdom's Vision 2030 strategy and its multi-sector commitment to hydrogen as a central pillar of its future energy landscape.
The announcement follows recent news of Saudi Arabia's intent to commit over one trillion dollars in U.S. strategic investments, reinforcing the deepening collaboration between both nations in advanced technologies and industrial innovation.
Phase 1: Current planning includes the establishment of a regional headquarters in the Kingdom, in collaboration with a group of strategic partners with proven success in rail technology, real estate, transportation, and public-private mega infrastructure.
Further details on phase 2 and phase 3 in Saudi Arabia will be disclosed as the joint venture structure and operating scope are finalized.
Forward-Looking Statements
This press release contains forward-looking statements subject to inherent risks and uncertainties. Actual results may vary materially due to numerous factors beyond the company's control. RONN Inc. undertakes no obligation to revise or update these statements unless legally required publicly.
CONTACT:
Investor Relations:
Ronn Ford CEO
ronn.ford@ronnmotorgroup.com
Social Media: [@RONNMotorGroup on X]. (https://x.com/RONNMotorGroup)
Website: [www.ronnmotorgroup.com]. (http://www.ronnmotorgroup.com)
SOURCE: RONN
View the original press release on ACCESS Newswire
FAQ
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