Electric Motorcycle Developer Damon Motors Selects Molicel To Power it's 20 kWh, 500 Volt Exoskeleton SuperbikeFriday, January 19, 2024
First Molicel-equipped HyperSport motorcycles deliver strong acceleration speed and performance results during latest testing at Thunderhill Raceway Park
Vancouver, BC, January 19, 2024--(T-Net)--Damon Motors Inc. today announced a strategic partnership to build its award-winning motorcycles using E-One Moli Energy Corp. ("Molicel") batteries.
Molicel's battery cell technology provides a unique balance of both high capacity and high power. Combined with Damon's patented exoskeleton design, Damon motorcycles are expected to deliver more range, higher power, and shorter charge times than industry competitors.
E-One Moli Energy company headquarters are located in Taipei, and the company has its North American R&D and Distribution Centre - North America Office (E-One Moli Energy (Canada) Ltd) in Maple Ridge, BC.
Damon and Molicel engineers will work in close collaboration on current and future applications, enabling Damon to deploy the latest technology and developments into its motorcycles.
Derek Dorresteyn, CTO, Damon Motors Inc.
"Molicel's innovative and superior battery technology will further position Damon at the leading edge of EV tech," said Derek Dorresteyn, CTO, Damon. "Additionally, Molicel's recently announced British Columbia manufacturing plant will shorten supply chains for battery cells and improve the responsiveness of our North American motorcycle manufacturing activities."
"Teaming up with Damon is a great fit as Molicel's battery technology is tailor-made to meet the unique requirements of high-performance motorcycles," said Casey Shiue, President, Molicel. "Additionally, we share a common synergy with Damon to be leaders in our respective industries. This partnership will further our missions to accomplish that."
During one of its recent test events, Damon put its new Molicel-equipped HyperSport motorcycle to the test against a state-of-the-art 2023 model 1000cc superbike with promising results.
Held on a private, closed-course track at Thunderhill Raceway in California, the HyperSport had the disadvantage of no rider aids yet enabled, while the competitor motorcycle had them all enabled, including lean angle traction control, wheelie control, and cornering ABS.
Despite the HyperSport's disadvantage, the company says early results hint towards a compelling story for the evolution of motorcycling:
With 40 patents in its technology stack, Damon's all-electric HyperDrive powertrain significantly reduces these legacy issues that have plagued combustion engine technology for more than a century, resulting in unparalleled performance and a next-generation riding experience. And with its embedded Shift active ergonomics, 4G connectivity and proprietary AI-enabled cloud, Damon's software-defined motorcycles will be able to continually adapt to a rapidly changing world, setting a new standard in performance, safety and rider experience.
The Company has raised more than $70M in funding to date and secured over $85M in deposit-backed reservations for its superbikes representing more than 3400 units. It recently announced plans to complete a merger transaction, which would result in a listing on the NASDAQ of the combined merger company, under the ticker symbol DMN.
About Damon Motors
Damon Motors is a global technology leader disrupting urban mobility, led by entrepreneurs and executives from world-class automotive and technology companies. With its offices in San Rafael, California and headquartered in Vancouver, Canada, Damon is on a mission to cause a paradigm shift for safer, smarter motorcycling. The Company is delivering on its promise with award-winning innovation and groundbreaking technologies.
Anchored by its proprietary electric powertrain, HyperDrive, Damon has captured the attention of the motorcycling world by delivering top speeds of 200 mph, innovative design, and new features, including CoPilot and Shift, that are attracting an entirely new generation of riders. With strong consumer interest in the US and abroad, Damon aims to set a new standard for motorcycle safety and sustainability worldwide.
This press release contains "forward-looking statements" that reflect Damon's current expectations and projections about its future development. When used in this press release, forward-looking statements can be identified by the use of words such as "may," or by such words as "will," "intend," "believe," "estimate," "consider," "expect," "anticipate," and "objective" and similar expressions or variations of such words. Forward-looking statements are, by their nature, not guarantees of Damon's future operational or financial performance and are subject to risks and uncertainties and other factors that could cause Damon's actual results, performance, prospects, or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. No representation or warranty is intended with respect to anticipated future results, or that estimates, or projections will be sustained. [ MORE ]
This press release contains "forward-looking statements" that reflect Damon's current expectations and projections about its future development. When used in this press release, forward-looking statements can be identified by the use of words such as "may," or by such words as "will," "intend," "believe," "estimate," "consider," "expect," "anticipate," and "objective" and similar expressions or variations of such words. Forward-looking statements are, by their nature, not guarantees of Damon's future operational or financial performance and are subject to risks and uncertainties and other factors that could cause Damon's actual results, performance, prospects, or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. No representation or warranty is intended with respect to anticipated future results, or that estimates, or projections will be sustained.
Forward-looking statements in this press release include, but are not limited to, statements relating to the completion of the Business Combination, the shareholder approval of the Business Combination by securityholders of Damon, the issuance of a final order by the Supreme Court of British Columbia in respect of the Plan of Arrangement to effect the Business Combination, approval by Nasdaq to list the shares of the combined company, the global reservations amount for the pre-production of Damon motorcycles, the proposed markets for the sale of Damon motorcycles, the expected performance level of Damon motorcycles, the estimated demand of Damon motorcycles, the potential safety ratings of Damon motorcycles and other forward looking information in respect of the proposed Business Combination.
In developing the forward-looking statements in this press release, we have applied several material assumptions, including the general business and economic conditions of the industries and countries in which Damon operates, the general market conditions and that Damon shareholders will view the Business Combination favorably and vote in favor of the transaction.
Many risks, uncertainties, and other factors could cause the actual results of the Damon to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the following:
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of the press release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, events may differ materially from current expectations. Damon disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required pursuant to applicable securities law.All forward-looking statements contained in the press release are expressly qualified in their entirety by this cautionary statement.
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