MERGER DEAL BETWEEN
ABEE GROUP AND AUTOMOBILI ESTREMA TO FORM ESTREMA­‐ABEE TECHNOLOGIES

Press Release

 

Brussels-­Belgium, Modena-­Italy: 01st March 2021
—————————————————————-

ABEE  (Avesta  Battery  Energy  Engineering)  and  Automobili  Estrema  have  entered  into  a  Merger  Agreement in support of a global battery and high-­‐performance electric vehicle project. The newly formed holding company is named Estrema-­‐ABEE Technologies.
Estrema-­ABEE  Technologies will focus  on delivering industry-­‐first  innovations  with  Automobili  Estrema designing and manufacturing low-­‐volume high-­‐performance electric vehicles and with ABEE providing proprietary technology regarding next generation battery technology and battery packs.
The  developed  hybrid  battery  pack,  with  cell  to  pack  technology,  will  soon  equip  Automobili  Estrema’s first vehicle prototype model called “Fulminea”. This breakthrough battery technology will utilise ABEE’s Li-­‐ion solid-­‐state cells reaching an unprecedented energy density of 450 Wh/kg (1.200 Wh/l). Fulminea is set to be delivered to its first customers in Q3 2023.

About Estrema-­‐ABEE Technologies

Estrema-­‐ABEE  Technologies  is  a  holding  company  which  has  full  ownership  over  ABEE and  Automobili Estrema. Estrema-­‐ABEE Technologies will allow the two merged companies to better compete in the green technology sector with focus on next generation battery technology and zero emission mobility. The newly designed logo, derived from the one adopted by Automobili Estrema, has a green shield which represents environmentally friendly technologies with a blue lighting bolt representing clean electric power.

About ABEE

ABEE,  founded  in  2019  by  Prof.  Noshin  Omar,  is  a  dynamic  engineering  company  specializing in  energy technologies for automotive and stationary applications. ABEE’s expertise includes battery system design, validation & feasibility analysis related to advanced Li-­‐ion and next generation solid-­‐state battery technologies manufacturing.
www.abeegroup.com

About Automobili Estrema:

Automobili Estrema is a boutique manufacturer of electric high-­‐end vehicles. It was founded in 2020 by  electric  car  entrepreneur  Gianfranco  Pizzuto.  Their  first  hypercar  model  “Fulminea”  will  be  the  first street legal electric vehicle to use a hybrid battery pack (the world’s first), which combines super capacitors with ABEE’s Li-­‐ion solid state cells.
www.automobiliestrema.com

Statements

 

“Our joint efforts will focus on cutting edge technologies by sharing already existing IP and further enhanced  innovations  including  hybrid  solutions  for  automotive  battery  packs.  The  creation  of  Estrema-­‐ABEE Technologies and this merger will strengthen the position of our companies in a hugely competitive and rapidly expanding market.”

Prof. Noshin Omar,

CEO of ABEE

“Automobili Estrema is proud to be part of this merger with ABEE and the creation of Estrema-­‐ABEE Technologies.  It  brings  together  two  likeminded  CEOs in  this  fast-­‐paced industry, which is moving  towards a zero-­‐emission mobility future. The “Fulminea” will not just be a stunning high-­‐performance electric vehicle, it will also incorporate the best electric powertrain and energy storage technology that the automotive industry has to offer.”

Gianfranco Pizzuto,

CEO of Automobili Estrema

For media related enquires please contact:  media@estremaabee.com  
For investor related enquires please contact:  investors@estremaabee.com 

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