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 (1.200Wh/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

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