Romeo Power : Heritage Environmental Services and Romeo Power Launch Commercial Fleet Electrification Program

LOS ANGELES, CA (January 4, 2021)
- Heritage Environmental Services, Inc. ('HES'), a leader in environmental and recycling services, and Romeo Power, Inc. ('Romeo Power') (NYSE: RMO), an energy technology leader delivering large-scale electrification solutions for complex commercial applications, announced today that they have launched a program to select fleet electrification partners to execute on HES's fleet electrification strategy. HES and Romeo Power intend to select leading edge commercial Battery Electric Vehicle (BEV) value chain participants such as Original Equipment Manufacturers (OEMs), integrators and ePowertrain providers, to participate in the program. The goal is to enter into long-term production partnerships with program participants that deliver the best solution for Heritage's requirements. All participants will be required to utilize Romeo Power's energy technology and battery management system in their vehicle offerings.

HES and its affiliates intend to purchase 500 BEVs for fleet implementation between 2022 and 2025, with the ultimate goal of electrifying up to 2,000 trucks over time. The program will commence with the selection of partners in Q1 2021 with the expectation that HES will begin to take vehicle deliveries during 2022.

In addition, US Ecology Inc. (NASDAQ-GS: ECOL), a leading provider of environmental services also agreed to participate as an observer to the Heritage - Romeo Power fleet electrification program. The program's key performance metrics will be shared with US Ecology as they consider electrification solutions for their fleet of 1,100 trucks.

'The launch of our fleet electrification program with Romeo Power marks an important step in our fleet electrification strategy as we seek to find the safest, most reliable, efficient and greenest solution,' commented Jeff Laborsky, President and CEO of HES.

'We are appreciative of HES's continued commitment to collaborate with Romeo Power in a variety of ways, and we look forward to leveraging our battery expertise to identify the optimal partners for all aspects of their electrification initiatives,' remarked Lionel Selwood, Jr., Chief Executive Officer of Romeo Power.

'We are honored to have been invited to participate in this innovative program. US Ecology operates a fleet of over 1,100 trucks, creating a significant opportunity to reduce our carbon footprint. We look forward to assessing this technology and analyzing the results of this exciting study as we evaluate how US Ecology can reduce greenhouse gas emissions and environmental impacts from our operations,' remarked Simon Bell, Executive Vice President and Chief Operating Officer of US Ecology.

Through its industry-leading technology and energy dense battery packs, Romeo Power enables large-scale sustainable transportation by delivering safer, longer lasting batteries with extended range and shorter charge times. The company has a 7 GWh-capable manufacturing facility in Los Angeles, California. Romeo Power's immediate mission is to electrify the entire industrial transportation sector. Its core product offering is focused on the battery electric vehicle medium-duty, short haul and heavy-duty, long haul trucking markets.