Under the merger, RI will retain 93% of the now publicly traded entity, Renewable Innovations, Inc. H2 View understands, the company intends to leverage its fuel cell technology to bring grid independent, clean, renewable solutions for power generation and sustainability to the market.
The Utah, US-based company earlier this year (2022) announced it had kicked off a partnership with General Motors to develop a Mobile Power Generator (MPG) to deliver fast charging to electric vehicles, and an EMPOWER rapid charger for retail refuelling stations.
Read more: General Motors expands fuel cell business with new applications
RI has said its technology is able to deliver EV charging in just 20 minutes using hydrogen, offering grid independent, clean power, and will initially focus on expanding into retail power distribution, especially along the US highway system.
Robert Mount, CEO of Renewable Innovations, commented, “With the global focus and increased investments on sustainable and clean energy solutions, this is the perfect time to bring our proprietary technology to the public markets.”
Alex Aliksanyan, CEO of Nestbuilder, added, “We are excited to be partnering with Renewable Innovations, a first in class, hydrogen-based, electric power product manufacturer. We see a limitless future for the company.”
The company will continue to be traded on the OTCQB marketplace, maintained by OTC Markets Group, under the symbol NBLD, until FINRA approves the name and symbol change.
Additionally, RI has said it intends to file for listing on NASDAQ as soon as it is eligible.
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