SCOTTSDALE, AZ / ACCESSWIRE / October 15, 2024 / RONN, Inc (OTC PINK:RONN) is excited to announce that CEO Ronn Ford will meet with executives from Hydrogen Energy Systems (HES) this week to finalize the transition from a Letter of Intent to a formal joint venture agreement. Since the inception of the LOI, both companies have significantly expanded their operations.
Mr. Ford emphasized that RONN Inc. has recently collaborated with Indigenous First Nations in Canada to establish hydrogen hubs that utilize wind turbines for green hydrogen production, aimed at reducing energy costs. While the hydrogen generated will primarily support First Nations projects, any surplus is expected to be stored in our proprietary storage systems for potential sale to other businesses and nations.
The HES/Ronn joint venture will integrate the Hydrogenin Horizons PEM electrolyzer with the Hydra-Pak system. This innovative setup will be deployed on wind turbines, producing and storing hydrogen in Hydra-Pak's low-pressure storage containers. Mr. Ford noted that Hydrogen Energy Systems will contribute numerous hydrogen sales contracts to the joint venture, which will enhance the effectiveness of our First Nations hydrogen hubs. Additionally, RONN's hydrogen-electric logistic vehicles will be utilized across all projects within the joint venture.
**Port of St. John - New Brunswick:** We look forward to incorporating the Port of St. John into this agreement following its formalization, facilitating the export of hydrogen produced in Canada. This joint venture will significantly advance the commercialization of the hydrogen economy for both parties.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Factors that could cause or contribute to such differences include, but are not limited to, the success of RONN, Inc. initiatives in the hydrogen tax credit market. RONN, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact Information
John Morgan
IR
[email protected]
SOURCE: RONN, Inc