MERGER DEAL BETWEEN ABEE GROUP AND AUTOMOBILI ESTREMA TO FORM ESTREMA‐ABEE TECHNOLOGIES
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.
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.
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.
“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.”
CEO of Automobili Estrema