Exro Announces Merger with SEA Electric to Create Leading e-Mobility Technology Company and Concurrent C$42 Million Capital Raise Transactions
• Complementary technologies driving significant synergy potential which provides a full scope solution with enhanced performance and reduced cost of ownership
• Multi-year commitments from Mack (Volvo) and Hino (Toyota)
• Targeting delivery of more than 1,000 propulsion technology systems to OEMs in 2024
• Concurrent C$42 Million capital raise to fund capital expenditures, working capital, and general business requirements
CALGARY, AB, Jan. 30, 2024 /CNW/ – Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the “Company” or “Exro”) and SEA Electric Inc. (“SEA” or “SEA Electric”) announced today that they have entered into an agreement (the “Merger Agreement”) providing for the acquisition of SEA by Exro (the “Transaction”). This business combination is expected to strengthen Exro’s technology offerings while accelerating revenue growth and Exro’s path to profitability. Following completion of the Transaction, the combined company (the “Combined Company”) will continue to operate under the name Exro Technologies Inc. and trade on the Toronto Stock Exchange (the “TSX”) under the ticker symbol “EXRO”.
“We are pleased to announce the merger between Exro and SEA Electric, which unites our complementary EV technology platforms and unlocks substantial opportunities for growth and path to profitability. Our merger with SEA not only creates significant revenue and cost synergies, but positions Exro to amplify its growth with new partners while continuing to develop our existing relationships. Having come to know SEA and its management team from doing business with them over the past several years, I have great confidence that this acquisition will bolster our competitive positioning in the EV technology space while providing significant value potential for our shareholders”, commented Sue Ozdemir, Chief Executive Officer of Exro.
Compelling Strategic Rationale
The Combined Company aims to accelerate and modernize electrification with a patented, blue chip validated technology platform. SEA Electric produces the SEA-Drive propulsion technology that controls all the components that electrify a vehicle. When integrated with the Exro Coil Driver™, the complementary technologies provide an end-to-end solution with enhanced performance and improved total cost of ownership for commercial vehicles. SEA’s technology has been validated by large blue chip OEM customers with multi-year commitments from Mack (Volvo) and Hino (Toyota). Together, Exro and SEA target delivery of more than 1,000 propulsion technology systems to these OEMs in 2024, with aggregate revenues forecasted to be more than C$200 million for the calendar year 2024. Combined with an asset-light business model focused on technology, these targets provide for a defined path to profitability within 12 months of completing the Transaction.
The Combined Company will bring Exro’s next generation technology to the full spectrum of e-mobility platforms including passenger vehicles to large commercial trucks and beyond. Together, Exro and SEA will aim to secure the short-term with a strong order book while maintaining a continued focus on disruptive innovation with next generation electric motor and battery control technologies backed by more than 60 patents and patent applications.
Upon completion of the Transaction, Sue Ozdemir will remain as Chief Executive Officer, Tony Fairweather will join Exro as the Chief Product Officer, and Darrell Bishop will become Chief Financial Officer. The board of directors of the Combined Company will consist of up to nine members with Rod Copes serving as Chair and the remaining directors comprised of representatives from both Exro’s and SEA’s current boards of directors.
Rod Copes, Chairman of Exro’s Board of Directors, added “Today marks the beginning of a significant new chapter in Exro’s journey as we proactively and strategically lead the consolidation of the e-mobility sector. The Transaction secures first-mover advantage and the path to revenue is robust, backed by a strong leadership team committed to delivering to shareholders on the market opportunity.”
SEA is a global e-mobility technology company founded in Australia in 2012 and now headquartered in the USA. After a multi-year, rigorous validation, the SEA-Drive propulsion technology was awarded a five-year contract from Mack for up to 5,000 propulsion systems, securing the contract based on superior performance and cost versus more than fifteen legacy and new competing technologies. Similarly, SEA secured a three-year agreement with Hino for up 3,500 systems.
Tony Fairweather, Founder and Chief Executive Officer of SEA said “With OEM contracts in-hand and industrialization underway, SEA Electric will benefit greatly from this business combination. Exro provides the resources, capabilities and automotive systems that will ensure the successful execution of these important contracts, as well as offering complementary and differentiating technology in the form of its Coil Driver and Cell Driver. I am very excited about our combined future”.
Transaction Terms
The Transaction values SEA Electric at approximately US$300 million (C$402 million). Exro will issue, based on Exro’s weighted average common share price over the 10 trading days ending January 26, 2024 of US$0.7680 per share (approximately C$1.03 per share) (the “Reference VWAP”), a combination of common shares (the “Exro Common Shares”) and non-voting convertible preferred shares (the “Exro Convertible Shares”) to SEA stockholders.
Pursuant to the Merger Agreement, SEA stockholders will receive approximately 153.8 million Exro Common Shares and 168.7 million Exro Convertible Shares, on a non-diluted basis and excluding existing SEA shares held by Exro, resulting in total implied consideration issued to SEA stockholders of approximately US$248 million (C$332 million) (the “Consideration”) in aggregate, based on the Reference VWAP. In addition, Exro will assume approximately US$46 million (C$62 million) in SEA net debt as part of the Transaction. The Exro Convertible Shares will be convertible into Exro Common Shares on a one-for-one basis without payment of any additional consideration and upon the satisfaction of certain conditions.
Under the terms of the Merger Agreement, immediately following the closing of the Transaction, Exro shareholders will own an approximate 34.5% economic stake in the Combined Company and SEA shareholders will own an approximate 65.5% economic stake in the Combined Company, on a fully diluted basis and prior to any impacts of the Offering (as defined below). Immediately following the closing of the Transaction, and prior to any conversion of Exro Convertible Shares into Exro Common Shares, current Exro shareholders will hold approximately 52.5% of the voting shares in the Combined Company and current SEA shareholders will hold approximately 47.5% of the voting shares in the Combined Company, on a fully diluted basis and prior to any impacts of the Offering.
The Merger Agreement also contains customary representations, warranties and covenants, including non-solicitation covenants applicable to Exro and SEA.
The Merger Agreement may be terminated in certain specified circumstances, including: (i) if the Transaction is not consummated on or before June 30, 2024, (ii) the approval of the Exro shareholders is not obtained or (iii) if Exro’s board of directors makes a change in recommendation or enters into an agreement in respect of a superior proposal. A termination fee of approximately US$11.4 million (C$15.3 million) is payable by Exro to SEA if the Merger Agreement is terminated in certain circumstances, including if Exro enters into a superior proposal, and Exro is entitled to a reverse termination fee of approximately US$11.4 million (C$15.3 million) from SEA if the Merger Agreement is terminated in certain circumstances.
The foregoing summary is qualified in its entirety by the provisions of the Merger Agreement, a copy of which will be filed under Exro’s profile on SEDAR+ at www.sedarplus.com.
Transaction Closing, Required Approvals and Lock-up Provisions
The Transaction is expected to close by the end of Q1 2024, subject to the of approval of Exro shareholders at a special meeting (the “Special Meeting”) and other customary closing conditions. Details regarding the Special Meeting, including date and time and full details regarding the background to the Transaction and voting recommendations for Exro shareholders will be issued in due course. The Transaction must be approved by a majority of the votes cast by Exro shareholders at the Special Meeting.
In conjunction with the signing of the Merger Agreement, directors and officers of Exro have entered into customary voting support agreements pursuant to which they have agreed to vote their Exro Common Shares in favour of the Transaction. The Transaction has received the requisite approvals from SEA stockholders.
Pursuant to a lock-up provision contained in the SEA stockholders’ agreement, all current holders of SEA common stock and SEA preferred stock are subject to certain restrictions on the sale or transfer of Exro Common Shares received pursuant to the Transaction, or through the conversion of Exro Convertible Shares into Exro Common Shares, for a period of six months following closing of the Transaction.
Concurrent Capital Raise Transactions
Concurrent with the Transaction, Exro will be raising an aggregate amount of approximately C$30 million (US$22 million) through the issuance of subscription receipts of Exro (the “Subscription Receipts”), prior to any exercise of the Underwriters’ Option (as defined below). In connection with the Transaction and contemporaneous with the issuance of Subscription Receipts, SEA has also entered into arrangements to receive an aggregate of US$9 million (C$12 million) of debt financing (the “Debt Financing”) from a Canadian pension fund manager (the “Debt Investor”).
In respect of the Subscription Receipts, Exro has entered into an agreement (the “Engagement Agreement”) with Canaccord Genuity Corp. and Eight Capital (collectively, the “Co-Lead Underwriters”), for and on behalf of a syndicate of underwriters (collectively, with the Co-Lead Underwriters, the “Underwriters”), for the issuance, on a bought deal basis of 31,600,000 Subscription Receipts at a price of C$0.95 (US$0.7082) per Subscription Receipt for aggregate gross proceeds to the Company of approximately C$30 million (US$22 million) (the “Offering”), prior to any exercise of the Underwriters’ Option (as defined below).
The Underwriters have been granted an option on the Offering (the “Underwriters’ Option”), exercisable in whole or in part on the same terms as the Offering, no later than two business days before the Closing Date (as defined below), to issue up to an additional 21,100,000 Subscription Receipts for additional gross proceeds of up to approximately C$20 million (US$15 million).
Upon closing of the Transaction, each Subscription Receipt will entitle the holder thereof to receive, without payment of additional consideration and without further action, an Exro Common Share, plus an amount per Exro Common Share, if any, equal to the amount per Exro Common Share of any cash dividends declared by the board of directors of the Company on the Exro Common Shares to holders of record on a date during the period from, and including, the Closing Date (as defined below) to, but excluding, the date of the closing of the Transaction, net of any applicable withholding taxes. If the Transaction does not close by June 30, 2024, the proceeds from the sale of the Subscription Receipts will be returned to the holders of such Subscription Receipts. The Subscription Receipts will be governed by the terms of a subscription receipt indenture (or equivalent document) (the “Subscription Receipt Agreement”) containing customary anti-dilution provisions for a transaction of the nature of the Offering.
The Offering is expected to close on February 15, 2024 (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX.
The net proceeds from the Offering and from the sale of any additional Subscription Receipts pursuant to the exercise of the Underwriters’ Option, if applicable, will be held in escrow pursuant to the terms of the Subscription Receipt Agreement and are intended to be used by Exro to support the business plan of the Combined Company, including but not limited to production, capital expenditures, working capital requirements, and normal course corporate and operating needs.
All securities issued in connection with the Offering are subject to a four-month and one day hold period in Canada, during which time the securities may not be traded.
The Subscription Receipts issued pursuant to the Offering and the additional Subscription Receipts, if any, issued pursuant to the Underwriters’ Option will be offered by way of private placement in all provinces of Canada to investors who qualify as “accredited investors” under Canadian securities legislation or who are otherwise exempt from prospectus delivery requirements. Subscription Receipts issued pursuant to the Offering and the additional Subscription Receipts, if any, issued pursuant to the Underwriters’ Option, if applicable, may also be sold in the United States to, or for the account or benefit of, U.S. Persons (as such terms are defined in Rule 902 of Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)) on a private placement basis pursuant to exemptions from the registration requirements under Rule 144A and/or Regulation D of the U.S. Securities Act, in a manner that does not require any of the securities sold pursuant to the Offering to be registered under the U.S. Securities Act or any applicable securities laws of any state of the United States. The Subscription Receipts issued pursuant to the Offering may also be sold in such other international jurisdictions in accordance with applicable law as the Company and the Underwriters may agree.
The terms of the Offering shall be subject to the provisions of a definitive underwriting agreement in respective of the Offering (the “Underwriting Agreement”) to be entered into between the Company and the Underwriters, which Underwriting Agreement shall include, without limitation, the provisions set forth in the Engagement Letter as well as such representations, warranties, covenants, conditions, indemnities and termination provisions including standard disaster, material adverse change, material adverse legislation and material breach termination provisions that are usual for transactions such as the Offering.
The Subscription Receipts issued pursuant to the Offering and the additional Subscription Receipts, if any, issued pursuant to the exercise of the Underwriters’ Option have not been and will not be registered under the U.S. Securities Act or any applicable securities laws of any state of the United States and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. Persons absent such registration or applicable exemption from such registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein.
Advisors and Fairness Opinion
National Bank Financial Inc. is acting as exclusive financial advisor to Exro. Stikeman Elliott LLP and Dorsey and Whitney LLP are acting as legal advisors to Exro.
Canaccord Genuity Corp. and Eight Capital are acting as financial advisors to SEA. Gibson, Dunn and Crutcher LLP and Blake, Cassels and Graydon LLP are acting as legal advisors to SEA.
In connection with the review and Consideration of the Transaction, Exro engaged National Bank Financial Inc. as its exclusive financial advisor. National Bank Financial Inc. has provided an opinion to the board of directors of Exro and a special committee of independent members of the board of directors Exro formed to consider the Transaction that, as of the date hereof and based upon and subject to the assumptions, limitations and qualifications set out in its opinion, the Consideration is fair, from a financial point of view, to the Exro shareholders other than Vestcor Inc.
Shareholder Webcast
Exro will host a shareholder livestream webcast to discuss the Transaction on January 30, 2024 at 10:00 AM (Mountain Time). To participate in the event please register here.
About Exro Technologies
Exro Technologies Inc. is a leading clean technology company that has developed new generation power control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility (Coil Driver™) and stationary energy storage (Cell Driver™), and act to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.
For more information visit our website at www.exro.com.
To view our Investor Presentation visit us at www.exro.com/investors.
Visit us on social media @Exrotech.
About SEA Electric
SEA is a leading automotive and e-mobility technology company that provides 100% electric drivetrain system technology. SEA has a worldwide presence, deploying products in the USA, Canada, Australia, New Zealand, Thailand, Indonesia, India, and South Africa, collectively achieving more than three million miles of service via independent OEM-testing and real-world operation.
Visit us on social media @SEAelectricEV
Cautionary Statement Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Canadian securities laws. These statements relate to future events or future performance and reflect management’s expectations regarding the Company’s growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, “target” or the negative of these terms or other comparable terminology.
Forward-looking statements are necessarily based on estimates and assumptions made by management in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as factors management believe are appropriate. Forward-looking statements may include but are not limited to statements respecting: the completion of the Transaction or the realization of the benefits thereof by the Combined Company; the terms and conditions of the Offering and the closing of the Offering; the receipt of all required regulatory and shareholder approvals of the Transaction and the Offering, including but not limited to the approval of the Transaction by the shareholders of Exro at the Special Meeting and the approval of the TSX; the timing and occurrence of the Closing Date; the ability of Exro and the Underwriters to enter into the Underwriting Agreement, on satisfactory terms or at all; all information regarding the Debt Financing, and the Company’s (and following the Transaction, the Combined Company’s) ability to commercialize its technology.
This news release also includes future-oriented financial information about future forecasted revenue of the Combined Company for calendar year 2024 that is not presented in the format of a historical balance sheet, income statement or cash flow statement, and which is based on assumptions about the closing of the Transaction, future economic conditions, courses of action and additional assumptions listed below (the “FOFI”). Actual results may differ from the FOFI in the news release. The FOFI is as of the date of this news release and has been included in this news release to assist readers in understanding the potential benefit of the Transaction in the Combined Company, and readers should be cautioned that the FOFI in this news release may not be appropriate for other purposes. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such FOFI necessarily involves known and unknown risks and uncertainties which may be outside of the Company’s control, and which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result ex-pressed or implied by such FOFI. These risks and uncertainties include but are not limited to risks associated with the Combined Company realizing on the perceived benefit of the completion of the Transaction, general economic conditions, adverse industry events, loss of markets, access to capital, and other factors listed below and in Company’s most recent annual information form and MD&A.
These forward-looking statements and FOFI are based on the beliefs of the management of Exro and on assumptions which such management believes to be reasonable, based on information available at the time such statements were made. However, there can be no assurance that forward-looking statements and FOFI will prove to be accurate. Such assumptions and factors include, among other things: demand for the technology of the Company (and following the Transaction, the Combined Company); the Company’s (and following the Transaction, the Combined Company’s) ability to maintain existing partners and attract new partners; the impact of competition; the Company’s (and following the Transaction, the Combined Company’s) ability to obtain and maintain existing financing on acceptable terms; the Company’s (and following the Transaction, the Combined Company’s) ability to retain skilled management and staff; currency, exchange and interest rates; the availability of financing opportunities, risks associated with economic conditions, dependence on management; volatility of stock price and market conditions; technology risks and risks associated with the commercialization of Company’s (and following the Transaction, the Combined Company’s) technology; regulatory risks; the Company’s reliance on key personnel; the Company’s limited operating history; market uncertainties; the protection of patents and intellectual property; conflicts of interest; market competition; and operating in an environment subject to regulation.
The preceding list is not exhaustive of all possible factors. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, any investors or users of this document should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors.
Please refer to the Company’s annual information form and other public continuous disclosure documents filed with the Canadian securities regulators under its profile on SEDAR+ at www.sedarplus.com for additional disclosure respecting the risks affecting the Company and its business.
Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. The Company does not undertake to update any forward-looking information, except as, and to the extent required by applicable securities laws.
Neither the TSX nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release
- Published in Articles, E-Range, Media Release, Networking, News, SEA-Drive, Technology
SEA Electric’s Double Alsco Delivery
SEA Electric, the Australian innovator in the all-electric commercial vehicle space, has delivered a pair of trucks to Alsco Australia, in the next step for the leader in uniform rental services to achieve its 2030 sustainability goals.
The SEA Electric SEA 85e model trucks are destined for Sydney and Melbourne, with the pair fitted with a high specification SEA-Drive® 120a power-system with maximum power and torque of 125kW and 1,500Nm, with the 138kWh battery capable of an unladen range of up to 300km.
Importantly, the trucks are equipped with an all-electric powered tailgate, which operates on energy supplied entirely by the onboard high-voltage batteries.
“We applaud Alsco for supporting Australian manufacturing and taking the next step on their EV journey with SEA Electric,” said Daniel Castro, President – Asia Pacific, SEA Electric.
“Alsco have these trucks destined for some significant routes within their business, with our SEA-Drive® power-system proven to be up to the task.
While the trucks are new to Alsco in Australia, Alsco in New Zealand were early adopters of SEA Electric’s pioneering commercial vehicle technology, with multiple deployments including that country’s first inter-city pure-electric heavy vehicle.
“We are proud to continue our relationship with Alsco with the delivery of this pair of SEA Electric SEA 85es, proof of their commitment to make a true difference in their environmental credentials,” said Tony Fairweather, CEO and founder, SEA Electric.
“From peerless green credentials to financial savings achieved through the elimination of diesel expense, and improved workplace health and safety for drivers and those on delivery routes, our products have been extensively proven in the field since they were first commercially deployed in 2017.
Leading Sydney truck dealership group Adtrans, managed and delivered the order, as a continuation of the company’s long-term relationship with Alsco, which spans decades.
“We congratulate Alsco on this important milestone,” said Mark Reynolds, Adtrans Dealer Principal.
“This delivery is the culmination of a long-term project by our whole team, to see these trucks delivered to Alsco, as they show a true commitment to lower their environmental footprint across Australia.
“Beyond the sale of the SEA Electric trucks, we are proud that we can continue to work with Alsco in supporting their EV adoption, with ongoing assistance and support that will see the vehicles integrate seamlessly into their operations.”
For Alsco, the acquisition of the SEA Electric trucks coincides with a company-wide push for sustainability, which to date has included the installation of solar panels across various sites.
“In around 2017, we noticed that conversations were changing in the marketplace, and customers were demanding more of us in terms of a better future and our ongoing legacy,” said Mark Roberts, Group Chief Executive, Alsco Australia.
“We’ve listened to our customers, and we are driving our business differently, which includes reassessing our environmental impact and how we interact with our local communities.
“Our SEA Electric partnership has been ongoing for a number of years now, stretching back to New Zealand, and we have built on that with the delivery of these two vehicles in Australia.
“It’s our first foray into EVs locally, and we intend to do a lot more in the space.
“The really exciting thing is that this Melbourne truck will be powered entirely by renewables, with our recent facility extension including the installation of rooftop solar.”
The new vehicle was presented to the Alsco team, by SEA Electric, Sales Director, Marco Quaranta.
“This milestone not only symbolises our commitment to revolutionising the industry with eco-friendly solutions but also confirms our partnership with Alsco in shaping a sustainable future for logistics. Together, we are redefining the way businesses move forward with purpose and environmental responsibility,” said Mr Quaranta
SEA Electric’s range of all-electric trucks is available from a nationwide dealer network, covering models from 4.5t through to 22.5t, which are entirely adaptable to a massive array of final applications.
The trucks come complete with full factory warranties supported by an extensive service network, backed by a growing list of ecosystem partners, ensuring a simple switch for companies transferring to sustainable solutions.
- Published in Articles, E-Range, Media Release, News, SEA-Drive
SEA Electric: New Safety Specification and Support at Brisbane Truck Show 2023
Australian all-electric truck manufacturer SEA Electric is taking the next step in its commitment to the local market at the Brisbane Truck Show, launching an expanded safety suite across the entire vehicle range, and further additions to the company’s ecosystem of support partners.
Available nationwide, the SEA Electric offering of zero-emissions trucks are available in various specifications, from 4.5t car licence models through to 22.5t three-axle rigid configurations, as manufactured at the company’s Melbourne base.
Representing the world’s first true range of all-electric trucks, the SEA 45e, SEA 85e, and SEA 225e have been configured for a wide range of final applications in addition to general dry freight, with all ancillary functions fully battery-powered, including for deployment as refuse trucks, refrigerated freight, cherry pickers, tilt trays, tippers and more.
Recent innovations from SEA Electric have included the nation’s first electric aviation refueller and the country’s first electric roadworks sweeper, amongst a range of cutting-edge designs that bring sustainability to the Australian transport fleet.
Key to the upgraded 2023 vehicle specification to be launched at the show is a full suite of functions to enhance the safety of the trucks.
Known as SEA-DAS (SEA Driver Assistance System), the standard array of features includes Vehicle Stability Control, Automatic Emergency Braking, Pedestrian Detection, Lane Departure Warning, Traction Control, an Anti-lock Braking System (ABS), and dual airbags.
The event comes at a key time for SEA Electric, with several significant recent international announcements for the brand placing it at the forefront.
In March, the company was named as a Tier 1 supplier to Mack Trucks in the USA, while its relationship with Hino Trucks USA was expanded with confirmation that the proprietary SEA-Drive® power-system will be fitted to both the Hino Trucks’ M and L Series.
Meanwhile, in April, SEA Electric unveiled its next-generation SEA-Drive® 250 power-system, complete with an optional hydrogen range extender, aimed at the heavy-duty end of the market.
“At the 2021 Brisbane Truck Show, SEA Electric truly launched itself into the marketplace with the public unveiling of our Australian range, this year we cement our position through our upgraded safety suite and support offering,” said Tony Fairweather, SEA Electric Founder and CEO.
“We are very fortunate to have a significant head start on the competition with our all-electric SEA-Drive® power-system, which has advanced and evolved over the last decade.
“The product is now mature and proven in the field with over 3 million kilometres of real-world use registered to date across five continents.
“We are also proud to be unveiling our SEA-DAS package at the Show, which compliments the many built-in safety systems of our award-winning design, which includes inboard-mounted batteries, which lead the sector in terms of safety and improved driving dynamics.
“Following recent additions to our partner ecosystem, major international OEM announcements, and significant sales orders, it is an exciting time for the SEA Electric brand.”
Joining SEA Electric’s presence at the Brisbane Truck Show will be key ecosystem partners, who are currently working with customers to ease their transition to sustainable transport solutions.
Industry leaders, including NTI and Truck Assist, Ampol, Zurich Resilience Solutions, EnergyAustralia, Jet Charge and CarBon, have partnered with SEA Electric to guide fleets on their EV adoption path.
SEA Electric can be found at stand 57 at the Brisbane Truck Show, which runs from Thursday, May 18th, to Sunday, May 21st, at the Brisbane Convention & Exhibition Centre, with the company also represented at the Southbank Truck Festival, which kicks off at Little Stanley Street from Wednesday, May 17th.
- Published in Articles, E-Range, Media Release, News, SEA-Drive, Technology