Mullen forms joint venture MAEO for battery range tech; claims 60-75% range increase

BOLLINGER INNOVATIONS, INC.

Mullen forms MAEO (51% owned) with Global EV Technology to commercialize Energy Management Module (EMM) that extends EV range.
Mullen to pay $50K upfront, $5M at closing of definitive agreements, and fund up to $5M for MAEO operations.
Element Materials Technology test showed EMM increased a high-volume OEM EV range from 269 to 431 miles (+60%).
Mullen's own test on its Class 1 EV cargo van showed >75% range increase (calculated EPA ~186 miles from 42 kWh pack).
U.S. provisional patent application filed for EMM technology; plans to integrate into all Mullen commercial and consumer EVs.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BOLLINGER INNOVATIONS, INC. entered into Letter of Agreement with Lawrence Hardge, Global EV Technology, Inc., and EV Technology, LLC (effective 2023-04-17).

Action: entry
Agreement: collaboration
Counterparty: Lawrence Hardge, Global EV Technology, Inc., and EV Technology, LLC
Effective: 2023-04-17

Exact text from the filing

On April 17, 2023, Mullen Automotive Inc. (the “Company”) entered into a binding Letter of Agreement (the “LOA”) with Lawrence Hardge, Global EV Technology, Inc., and EV Technology, LLC (collectively, “EVT”), pursuant to which the parties will partner and joint venture on all aspects of a device (the “Technology”) previously known as a Battery Life Enhancing Technology along with Ever-Charge Technology and/or Energy Management Module that is designed to extend the effective battery life and can be added to many applications that require and use battery resources to be powered (the “Transaction”).

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23 material agreements filed in the last 30 days. Browse all material agreements →

BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-047726

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