Romeo Power Technology inaugurates the west coast’s first dedicated electric vehicle battery pack manufacturing facility

200+ Jobs Created; Automated Factory to Produce 4 Gigawatt Hours of Energy​by 2018

VERNON, CA – November 15, 2017 – Romeo Power Technology, the energy storage technology company founded by top engineers and designers from SpaceX, Tesla, Amazon and Samsung, today announced the completion of its fully-automated 113,000 square-foot lithium-ion battery pack manufacturing facility near downtown Los Angeles. The inauguration of the West Coast’s first dedicated battery pack manufacturing facility was marked with a celebration and ribbon cutting ceremony by Romeo’s executive team for employees, local public officials and community guests.

“Romeo’s state-of-the-art factory is both proof and promise of our place in the new energy economy,” said Romeo co-founder and CEO Michael Patterson. “Contrary to what many fear, automation is creating jobs – in this case, over 200 good jobs. Competitive, in-demand jobs with living wages.”

Romeo Power Technology’s new factory is slated to produce 1-gigawatt hour by end of year and will quadruple capacity by 2018 to 4-gigawatt hours. Spearheaded by Romeo’s Chief Production Officer Mark Schwager who previously oversaw Tesla’s gigafactory development and design, the new facility now manufactures the most powerful and energy-dense battery packs in the world.

All Romeo lithium-ion battery packs for EVs and stationary applications are designed, engineered, tested and produced on site, and the facility features the only research and development and testing lab on the West Coast. The battery packs are designed and optimized based on specific power and energy density needs, ranging in size from 1 kWh to 1 MWh.

“Our people aren’t assemblers, they’re problem-solvers, forging the way to a sustainable future,” said Schwager. “Our mission to advance energy technology has never been more critical.”

The company currently has contracts and design agreements in place that span U.S. and European automakers, manufacturers of motorcycles and forklifts, industrial players such as Power Designers, robotics companies, among others. Romeo is now ramping production of its lithium-ion battery pack and stationary storage technologies and is fulfilling orders at full capacity.

The breakthrough battery packs Romeo makes are the most energy dense on the market. They charge faster and go farther than the current packs in some of the most popular electric vehicles on the road, and will change the market forever by dramatically extending the range people expect from an electric vehicle, and help hasten the transition to all-electric transportation.

Romeo is also helping businesses slash their utility bills with state-of-the-art stationary energy storage solutions that change the way energy is consumed. By harvesting electricity at night when it’s cheaper, businesses can save money and reduce demand at peak times, helping the grid remain stable. And, while Romeo continues to focus on its mission to advance energy technology, it will never lose sight of why the company came together in the first place – to end energy poverty around the world by 2023.

Today, there are more than 1 billion people on the planet who lack access to safe and affordable electricity. When the sun goes down they live in darkness. And when they cook they’re forced to use fuels that pollute the air they breathe in their homes.

“The success of the products we make right here in Vernon will help fund our efforts to provide more affordable and sustainable products to the people in developing nations,” said Patterson. “There’s a lot of work ahead, and 2023 is not that far off. But today we prove that hard work, passion, and vision pay off. Today we celebrate the hard work that got us here, and the people behind it.”

About Romeo Power Technology
Romeo was founded in 2015 by a group of engineers from SpaceX, Tesla, and Samsung on a mission to advance energy technology so they could help end energy poverty. They build “tighter and lighter” battery packs for electric vehicles and stationary energy storage that perform better and last longer thanks to industry-leading energy density and battery management. Learn more at romeopower.com.

Statements in this press release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management’s current outlook, expectations, estimates and projections. Words such as “anticipates,” “believes,” “continues,” “could,” “designed,” “effect,” “estimates,” “evaluates,” “expects,” “forecasts,” “goal,” “initiative,” “intends,” “outlook,” “plans,” “potential,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “would,” variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond our control, that could cause actual results to differ materially from those expressed, projected or implied in or by the forward-looking statements. These risks and uncertainties, among others, include: our dependence on automotive and truck production, both of which are highly cyclical; our reliance on major OEM customers; commodities availability and pricing; supply disruptions; fluctuations in interest rates and foreign currency exchange rates; availability of credit; our dependence on key management; our dependence on information systems; the uncertainty of the global economic environment; the outcome of existing or any future legal proceedings, including litigation with respect to various claims; and future changes in laws and regulations, including by way of example, tariffs, in the countries in which we operate, as well as other risks noted in reports that we file with the Securities and Exchange Commission, including the Risk Factors identified in our most recently filed Annual Report on Form 10-K/A. We do not undertake any obligation to update or announce publicly any updates to or revision to any of the forward-looking statements.

ROMEO POWER NORTH AMERICA
4380 Ayers Ave.
Vernon, CA 90058
+1.844.257.8557
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