Press Release Mar 01-2021

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.
About ABEE:
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.”
Gianfranco Pizzuto CEO of Automobili Estrema