EV Battery Tech Partner Daymak Completes EV Prototype and Increases Ownership in EV Battery Tech
VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) — Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) (OTCQB: CRYBF) is excited to announce that its partner, Daymak Inc. (“Daymak”), has produced its first fully functional prototype of the Daymak Avvenire Spiritus (the “Spiritus”).
On March 23, 2021, Daymak launched a campaign for its Avvenire line up, which includes the Spiritus Electric Vehicle (the “Spiritus”), and have since seen orders surpass $1.1 billion. The Spiritus is a three-wheel two-seater EV, and equipped with Daymak’s Nebula technology, will be the first EV with cryptocurrency mining capabilities.
Pursuant to the partnership agreement with Daymak (the “Agreement”), the Company’s subsidiary, IONiX Pro Battery Technologies Corp. (“IONiX Pro”), has a right of first refusal to provide Daymak with battery systems for all of Daymak’s Light Electric Vehicles (LEVs) and EVs, inclusive of the Spiritus. Daymak expects that battery systems for the Spritus will make up 30% of the total production cost.
“It is truly a life-long dream come true to have completed the Spiritus prototype,” boasted Daymak CEO, Aldo Baiocchi. “We are proud of the final look, performance and even extra features such as crypto mining that make this not only one of the most exciting EVs ever made, but perhaps one of the only ones that makes you money.”
Pursuant to the Agreement, the Company previously issued Daymak warrants with an exercise price of $0.20 per share. On October 25, 2021, Daymak exercised 5,000,000 of their warrants for consideration of $1,000,000.
The Company, IONiX Pro and Daymak have been collaborating on battery systems for Daymak’s new LEVs, the Spiritus and of course, the IONiX Pro Trilogy Vision EV. The Company has ordered and paid for the first Trilogy Vision prototype, with expected performance of 0-60 mph in less than 2 seconds. The Company expects it will be complete in the first half of 2022.
“We congratulate Aldo and the entire Daymak team for completing the Spiritus prototype. Taking this EV from concept to prototype is monumental feat and it has truly been an honor serving on their Advisory Board,” commented IONiX Pro Chief Innovation Officer, Rob Abenante.
“With their order book surpassing $1.1B, we certainly have a lot of work ahead of us. I look forward to seeing this partnership go to the next level,” continued Mr. Abenante.
“It is truly phenomenal to see our partners achieve such a momentous milestone,” stated EV Battery Tech CEO, Bryson Goodwin.
“We expect to see our first Trilogy Vision next year, our SmartWall is now in production with pre-orders coming daily and we have an operational SmartWall functioning in a Vancouver showroom. I am proud that our team has hit these targets and I’m thrilled to continue with such high performing partners,” concluded Mr. Goodwin.
On behalf of the Company,
Chief Executive Officer
About Daymak Inc.
Daymak, a Toronto-based company incorporated in 2002, is a leading developer and distributor of personal light electric vehicles. Daymak’s goal is to make outstanding clean vehicles that make a positive impact on the environment for today and future generations. Daymak builds its vehicles to give freedom of movement and are a joy to ride.
Daymak’s current customers include Walmart, Costco, TSC, QVC, Best Buy, Hudson’s Bay plus a network of 150 dealers across Canada and the USA. Daymak also has showrooms in Los Angeles, California, Toronto, Ontario, and Rome, Italy with more expected in the future. Daymak was also the recipient of the “Clean Tech North Award”, and Profit Magazine’s Top 100, 200 fastest growing Canadian companies while also being named “One of Ontario’s Greenest Companies.”
About EV Battery Tech
Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.
Learn more at evbattery.tech
Contact Numbers and Emails
For further information about the Company, please visit https://www.evbattery.tech.
For further information about the Company’s Products please visit https://www.ionixpro.com.
For Investor Inquiries, please contact (236) 259-0279 or email [email protected].
For Product or Sales Inquiries, please contact (236) 266-5174 or email [email protected].
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The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties, including the specific factors disclosed here and elsewhere in EV Battery Tech’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will”, “hope”, “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “believe”, “should”, “projected”, “proposed”, “rendering” and similar expressions, are forward-looking statements.
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements respecting: (i) orders for the Avvenire line up; (ii) the Spiritus’s ability to mine cryptocurrency; (iii) IONiX Pro’s supply of battery systems for Daymak’s LEVs and EVs; (iv) the expected cost of Daymak’s battery systems; (v) the Spiritus’s ability to make its owner money; (vi) expected performance of the Trilogy Vision prototype; (vii) expected timing for completion of the Trilogy Vision prototype; (viii) work ahead for the Company, in light of Daymak’s order book; (ix) expectations respecting the Company’s and Daymak’s partnership going to the next level; and (x) the Company’s continuation with high performance partners. the SmartWall’s BMS system making the product one of the safest and most reliable home energy storage systems on the market. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.