- Signature of a Letter of Intent (LOI) with Atlas Special
Opportunities regarding Hopium
- Allocating up to $15 million in the form of a shareholder loan
for investment in Hopium, a European hydrogen fuel cell engineering
company, if definitive documents are signed.
- Potentially Controlling Stake in Hopium Through Convertible
Bond Purchase
Micromobility.com (NASDAQ: MCOM) a frontrunner in sustainable
urban transportation and micro-mobility solutions, is making
strides towards a greener future by signing a Letter of Intent
(LOI) with Atlas Special Opportunities regarding Hopium (ALHPI.PA).
Micromibility.com is negotiating with Atlas Special Opportunities a
deal whereby Micromobility could become an important and long-term
shareholder of Hopium. By the terms of this letter,
Micromobility.com’s investment will accelerate Hopium’s R&D and
growth.
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Hopium will gain access to the worldwide micromobility
market expected to grow at a CAGR of 16.5% between 2023 and 2028,
reaching a value of around USD 109.9 bn by 2028 from approximately
USD 43.8 bn in 2022.
micromobility.com is considering the purchase of Hopium
Convertible Bonds from Atlas Special Opportunities for an amount of
approximately USD 3m to become a long-term shareholder in
Hopium.
This LOI signifies micromobility.com's commitment and interest
in integrating cutting-edge technology into the micro-mobility
industry.
A Trailblazing Collaboration
micromobility.com's strategic partnership with Hopium would mark
a groundbreaking chapter in micro-mobility innovation. Hopium, a
vanguard in hydrogen fuel cell engineering, is renowned for its
expertise and innovative prowess. Leveraging the potential of
hydrogen fuel cells, Hopium stands at the forefront of sustainable
energy production, particularly in designing compact,
high-performance fuel cells tailored for the micro-mobility
sector.
Hydrogen's Role in Mobility
Hydrogen's role in mobility is no longer a future forecast; it's
today's headline. As a cornerstone of the energy metamorphosis,
hydrogen is heralded as a clean, adaptive energy substitute, rising
as a formidable contender to fossil fuels. Its compatibility with
renewable energy sources further amplifies its significance in a
green-driven economy. With soaring investments and recent
technological leaps, hydrogen is rapidly solidifying its position
in the mobility sector.
Hopium’s Vision: Hydrogen - The New Horizon
Under the visionary leadership of CEO Sylvain LAURENT, Hopium
has set its sights on a pioneering vision for hydrogen. The company
is committed to achieving TRL 6 certification by April 2024, a
pivotal step toward expediting the industrialization and sales of
its patented hydrogen technology.
Strategic Shift for Enhanced Efficiency
Since Sylvain LAURENT took over as CEO of Hopium in early 2023,
the company has strategically realigned its industrial focus. This
shift aims to prioritize development efforts on fuel cell
technology and has resulted in a governance restructuring designed
to optimize costs.
Hydrogen's Potential Unleashed in Micro-Mobility
The micro-mobility sector, spanning electric scooters, bikes,
and more, is experiencing rapid expansion. With the non-binding LOI
inked on October 11, 2023, micromobility.com has indicated that it
is seriously considering adopting hydrogen technology within
micro-mobility solutions. This strategic move aims to reduce carbon
footprints, foster innovation, and provide eco-friendly
micro-mobility alternatives to urban communities worldwide.
‘I believe hydrogen reduces everyone’s reliance on imported
fossil fuels, leading to reduced trade deficits for some countries
and enhanced energy independence. Also, Hydrogen fuel cells have a
far greater energy storage density than lithium. That’s why it
makes sense to invest in Hopium.’ (Salvatore Palella, CEO
Micromobility.com).
Elevating Sustainable Practices
This potential partnership underscores micromobility.com's
steadfast commitment to sustainability and curbing carbon
emissions. With a successful closing, the company hopes to utilize
the Hopium technology, which could fast track the development and
global adoption of sustainable transportation solutions.
Charting the Future of Micro-Mobility
This non-binding LOI could lead to a momentous leap forward in
defining the future of micro-mobility. Both entities are devoted to
fueling innovation, enhancing eco-conscious transportation choices,
and securing a brighter and more sustainable urban mobility
landscape.
Confidentiality and Forward Momentum
As negotiations advance, both parties are engaging in
constructive discussions. This commitment to mutual cooperation
sets the stage for a fruitful partnership.
micromobility.com's collaboration with Hopium holds the
potential to leave an indelible mark on the micro-mobility sector
by propelling hydrogen technology to the forefront of sustainable
transportation solutions.
For further details about micromobility.com and its pioneering
micro-mobility initiatives, please visit www.micromobility.com
About micromobility.com Inc
micromobility.com Inc is a pioneering force in the micromobility
industry, dedicated to creating sustainable and efficient solutions
for urban transportation. With a portfolio of innovative brands
such as Helbiz and Wheels, micromobility.com Inc empowers
individuals to navigate urban environments conveniently and
eco-consciously.
Forward-Looking Statements
Certain statements made in this press release are
"forward-looking statements'' within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words such as "anticipate", "believe", "expect", "estimate",
"plan", "outlook", and "project" and other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
reflect the current analysis of existing information and are
subject to various risks and uncertainties. As a result, caution
must be exercised in relying on forward looking statements. Due to
known and unknown risks, actual results may differ materially from
the Company’s expectations or projections. The following factors,
among others, could cause actual results to differ materially from
those described in these forward-looking statements: (i) the
failure to meet projected development and production targets; (ii)
changes in applicable laws or regulations; and (iii) other risks
and uncertainties described herein, as well as those risks and
uncertainties discussed from time to time in other reports and
other public filings with the Securities and Exchange Commission
(the "SEC") by the Company including its Annual Report on Form 10-K
for the fiscal year ended December 31, 2022. The Company’s SEC
filings are available publicly on the SEC’s website at www.sec.gov.
Any forward-looking statement made by us in this press release is
based only on information currently available to the Company and
speaks only as of the date on which it is made. The Company
undertakes no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise, except as required by law.
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