IHAI - Company Enters LOI With EV Battery Management Firm
2023-12-11 10:40:22 ET
The market for EVs continues to surge, and this company just entered an LOI with a firm innovating in %EV battery management. %InnovativeHoldingsAlliance (OTC: IHAI) announced in a press release that it had executed a non-binding Letter of Intent with Premergy, Inc., a Georgia corporation. Premergy, Inc. is a U.S. technology development company focused on global battery power management and energy optimization. Premergy's patent-protected electric vehicle battery management design and control systems address two key issues in the electric vehicle marketplace: vehicle range and battery thermal stress.
Under the terms of the Letter of Intent, the Company will purchase all of the assets of Premergy, including its patents, in exchange for shares of the Company's Common Stock, and the assumption of certain liabilities of Premergy.
"I am very excited to announce that we have entered into a Letter of Intent to acquire 100% of the assets of Premergy, Inc. Premergy's patented technology is on the leading edge in the EV battery management and control industry,” stated Chris Winter, President of Innovative Holdings Alliance, Inc.
Shares () closed Friday trade at $0.45.