RONN Inc. Initiates Plans For Riyadh Headquarters To Launch “RONN Saudi Arabia” Joint Venture, Advancing Vision 2039 Hydrogen Initiatives

Rhea-AI Summary

RONN Inc. (OTC PINK:RONN) has announced plans to establish a new corporate office in Riyadh, Saudi Arabia, formalizing the 'RONN Saudi Arabia' joint venture. The initiative aims to accelerate hydrogen-powered mobility solutions in alignment with Saudi Arabia's Vision 2030.

The joint venture follows a 90/10 financing model, with Saudi partners providing the majority of investment while RONN focuses on technological development. Initial manufacturing and prototypes will begin in the United States before expanding to Saudi Arabia, with plans to establish local manufacturing facilities before 2030.

The venture will complement Saudi Arabia's renewable energy projects, including the $8.4 billion NEOM Green Hydrogen Plant, which aims to produce 600 tons of green hydrogen daily by 2026. RONN Saudi Arabia will focus on developing hydrogen-powered supercars and commercial vehicles specifically designed for the region.

Positive

• Strategic expansion into Saudi Arabian market through joint venture
• 90/10 financing model minimizes RONN's capital requirements
• Access to Saudi Arabia's $8.4B NEOM Green Hydrogen infrastructure
• Planned local manufacturing facilities in Saudi Arabia

Negative

• Heavy reliance on Saudi partners for financing (90% of investment)
• Significant time gap before local manufacturing capabilities are established
• Dependency on foreign regulatory compliance in two jurisdictions

SCOTTSDALE, AZ / ACCESS Newswire / April 24, 2025 / RONN Inc. (OTC PINK:RONN), a U.S.-based hydrogen technology innovator, announces that it is establishing a new corporate office in Riyadh, Saudi Arabia. This strategic move marks the formal initiation of the signed "RONN Saudi Arabia," a joint venture to accelerate hydrogen-powered mobility solutions in alignment with the Kingdom's Vision 2030.

In collaboration with esteemed local partners, RONN Inc. is poised to integrate its advanced hydrogen fuel cell technologies into Saudi Arabia's ambitious sustainability framework. The joint venture underscores a shared commitment to pioneering zero-emission transportation and fostering economic diversification through cutting-edge energy solutions.

"Saudi Arabia's proactive stance on hydrogen energy, exemplified by projects like NEOM and Qiddiya City, presents an unparalleled opportunity for innovation," said Ronn Ford, CEO of RONN Inc. "Our collaboration is not just a business venture; it's a convergence of like visions ."

The joint venture is structured with a 90/10 financing model, wherein Saudi partners will lead most of the investment, allowing RONN Inc. to focus on technological development and rapid deployment. This approach ensures the venture benefits from local expertise in navigating regulatory landscapes and infrastructure development while leveraging RONN's proprietary hydrogen technologies.

Initial manufacturing efforts and prototypes will commence in the United States, using our long-time substantial engineering relationships to finalize prototypes and expedite time to market. Concurrently, plans are underway to identify suitable manufacturing sites within Saudi Arabia, aiming for operational readiness well before 2030.

Saudi Arabia's Vision 2030 outlines a transformative agenda, positioning the Kingdom as a global leader in renewable energy. Projects like the $8.4 billion NEOM Green Hydrogen Plant, set to produce 600 tons of green hydrogen daily by 2026, exemplify this commitment. RONN Saudi Arabia's initiatives will complement these efforts, focusing on developing hydrogen-powered supercars and commercial vehicles tailored for the region.

The planned Riyadh office will be the central hub for coordinating joint venture activities, facilitating seamless collaboration between U.S. and Saudi teams. Legal and operational frameworks are meticulously crafted to ensure compliance with American and Saudi regulations, setting a precedent for international cooperation in the hydrogen sector. "This venture is a testament to what can be achieved when innovation meets visionary leadership," added Ford. "We are not just building hydrogen vehicles; we are building the future of a sustainable hydrogen economy across several sectors.

About RONN Inc.

RONN Inc. is a pioneering hydrogen technology company specializing in zero-emission supercars, modular fueling systems, and commercial mobility platforms. Focusing on scalable innovation and sustainable infrastructure, RONN Inc. is committed to redefining the transportation landscape through advanced hydrogen solutions.

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Forward-Looking Statements

This press release contains forward-looking statements, including projections and estimates, 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 law requires.

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Contact: Ronn Ford
Ronn.ford@ronnmotorgroup.com
Website: www.ronnmotorgroup.com

SOURCE: RONN

View the original press release on ACCESS Newswire

FAQ

What is the ownership structure of the RONN Saudi Arabia joint venture?

The joint venture follows a 90/10 financing model, with Saudi partners leading most of the investment while RONN Inc. focuses on technological development and deployment.

Where will RONN (OTC:RONN) initially manufacture its hydrogen vehicles?

Initial manufacturing and prototypes will commence in the United States, with plans to establish manufacturing facilities in Saudi Arabia before 2030.

How does RONN's joint venture align with Saudi Arabia's Vision 2030?

The venture aligns with Vision 2030 by developing hydrogen-powered vehicles and supporting Saudi Arabia's goal to become a global leader in renewable energy.

What is the production capacity of the NEOM Green Hydrogen Plant that RONN will complement?

The $8.4 billion NEOM Green Hydrogen Plant is set to produce 600 tons of green hydrogen daily by 2026.