RIYADH, SAUDI ARABIA AND SCOTTSDALE, AZ / ACCESS Newswire / May 1, 2025 / RONN Inc. (OTC PINK:RONN), a U.S.-based hydrogen technology innovator, announced today that it will meet with its Saudi Arabian joint venture partners this Saturday to finalize and approve the budget for the newly formed "RONN Saudi Arabia" venture.
This pivotal meeting represents the final step in aligning both parties on the near- and long-term capital deployment strategy for the joint venture, which is expected to be valued in the high eight to nine-figure range. CEO Ronn Ford confirmed that the RONN Inc. executive team will present a comprehensive draft budget during the session, with official approval and sign-off anticipated by the conclusion of the meeting.
The joint venture is structured with a 90/10 financing model, with Saudi partners providing the majority of funding. This strategic arrangement allows RONN Inc. to focus on hydrogen technology development, engineering, and rapid deployment, while Saudi leadership manages regional infrastructure and regulatory pathways.
"This meeting marks a critical milestone in moving from framework to execution," said Ford. "Both teams are aligned in vision-and this budget is the tool that will accelerate our shared mission into action."
RONN Inc. and its Saudi partners are working closely to ensure the joint venture reflects the Kingdom's Vision 2030 goals. With hydrogen playing a central role in Saudi Arabia's national energy transition, the joint venture is expected to contribute meaningfully to regional hydrogen mobility, infrastructure, and manufacturing initiatives.
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About RONN Inc.
RONN Inc. is a U.S.-based hydrogen technology company focused on developing zero-emission hydrogen fuel cell vehicles, modular infrastructure, and high-performance supercars. The company is committed to scalable innovation, sustainable energy solutions, and global partnerships that accelerate the hydrogen economy.
Forward-Looking Statements
This press release contains forward-looking statements, including projections and estimates, which are subject to risks and uncertainties. Actual results may differ materially due to various factors. RONN Inc. undertakes no obligation to update these statements except as required by law.
Contact:
Ronn Ford, CEO
Ronn.ford@ronnmotorgroup.com
Social Media: @ronnmotorgroup on X
Website: www.ronnmotorgroup.com
SOURCE: RONN
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/budget-approval-expected-saturday-for-ronn-inc.-saudi-arabia-hyd-1022134