Has signed $75
million in year-to-date North American orders, following
recent contract win announcement with Chicago Transit
Authority
DÜSSELDORF, Germany and ATLANTA, Aug. 27,
2024 /PRNewswire/ -- Heramba Electric plc (NASDAQ:
PITA) ("Heramba Electric" or the "Company"), a global technology
company focused on decarbonization of public and commercial
transportation, announced that its wholly-owned subsidiary Kiepe
Electric ("KIEPE") has been awarded a $26
million battery upgrade program by King County Metro in Seattle, Washington for enhanced In Motion
Charging (IMC®) on its electric trolley buses.
The three-year agreement will ensure enhanced in-motion charging
capability for electric trolley buses and provide King County with upgraded battery packs that
will deliver approximately three times the capacity of the original
energy storage system (ESS). As a result, following deliveries in
late-2024, the county will operate a more efficient e-mobility
network, reducing carbon emissions and improving public
transportation for the region.
KIEPE will also provide on-site service support for up to five
years, starting in 2024.
KIEPE's recent program win in Chicago with Chicago Transit Authority (CTA)
and this latest agreement in Seattle with King
County Metro further underline the strong market position of
the business in North America.
Combined these two projects alone represent new US order intake of
more than $75 million for 2024
year-to-date.
"These recent transactions reflect our continued focus to
deliver made in USA products, leveraging high-quality German
engineering expertise, to address a significant opportunity to
decarbonize urban America," said Michele
Molinari, Chief Executive Officer at Heramba Electric. "We
are in the early stages of executing against our growth plan in the
region but are well-positioned to benefit from the strong
commercial opportunities for high power charging stations and other
state-of-the-art systems in our product portfolio."
"Seattle and King County are considered to be one of the
eco-friendlier regions in United
States and we are proud to contribute to this quality of
life with our IMC® technology as part of our long-standing
partnership with New Flyer and King
County Metro. The extensive battery upgrade is in line with
KIEPE's goal of reducing emissions as part of long-term lifecycle
management and improving public transportation with
state-of-the-art technology," said Alexander Ketterl, CEO of KIEPE Group.
KIEPE has developed an upgraded battery pack for 174 electric
trolley buses delivered to King
County Metro between 2014 and 2017 (KCM XT40 and XT60). The
IMC® technology allows these electric buses to travel over seven
miles between overhead wire connections, relying on space-saving
batteries that charge during short sections of overhead line
operation. This extended range and efficiency will support
King County Metro's commitment to
provide eco-friendly public transportation and the city's broader
environmental goals. By closely collaborating with King County Metro on this innovative project,
KIEPE is enhancing the energy efficiency and performance of the
county's electric trolley buses while reducing infrastructure
maintenance and service expansion costs.
As electrification becomes more complex, Kiepe Electric is being
globally recognized for providing comprehensive support throughout
the entire product lifecycle, delivering smart solutions, including
for older vehicles.
About Heramba Electric plc
Heramba Electric plc is a growth-oriented, global technology
company, dedicated to accelerating the decarbonization of public
and commercial transportation. We are committed to driving organic
and inorganic growth strategies, supported by the significant
public company experience of our Board of Directors and more than
500 employees globally. For more information on Heramba Electric
plc, visit www.herambaelectric.com.
Our principal subsidiary, Kiepe Electric, was formed in 1906. It
is known worldwide for its efficient and ecologically sustainable
electric equipment and solutions for streetcars, subway trains,
regional trains and electric buses with In Motion Charging (IMC)
and High-Power Charging (HPC). Recent innovations include the new,
modular HPC platform for 12-, 18- and 24-meter e-buses and
high-power charging infrastructure solutions for e-buses up to
800kW inclusive battery storage systems. To learn more, visit
www.kiepe.knorr-bremse.com/en/de/.
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SOURCE Heramba Electric