October 27, 2020

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Hercules Electric Vehicles and Prieto Battery, Inc. Establish Strategic Partnership for Battery Technology in 2025 Hercules Trucks

DETROIT & FORT COLLINS, Colo.–(BUSINESS WIRE)–Hercules Electric Vehicles and Prieto Battery, Inc. today announced they have signed a Letter of Intent to form a strategic partnership for the development and commercialization of Prieto’s 3D Lithium-ion solid-state batteries for use in Hercules electric pickups, SUVs and other future vehicles starting in 2025.

The 3D battery architecture that Prieto developed and patented provides higher power output and energy density, faster recharging, excellent operation at low and high temperatures and is safer than today’s Lithium-ion batteries.

“We are excited to partner with Prieto to tailor their batteries to our future vehicle applications and performance requirements and to scale up the manufacturing process for anticipated commercial launch in 2025 in our pickup trucks,” said James Breyer, CEO and president of Hercules.

“We are thrilled to be working with such an innovative electric vehicle manufacturer as Hercules,” said Mike Rosenberg, Prieto CEO. “Hercules’ unique approach to the market will create a distinctive luxury pickup truck with exceptional power and performance, and our batteries will help distinguish it even further with faster charging, higher power output and longer ranges.”

With the addition of Prieto as a strategic partner regarding battery technology, Hercules is building upon their modular design and assembly approach to create and manufacture eco-utility vehicles. Hercules will begin to produce its initial vehicle, the Alpha pickup truck, in 2022 and will soon announce additional partnerships for the design, manufacture and enhanced range extension for their vehicles.

About Hercules Electric Vehicles

Founded in 2018 by auto veteran James Breyer, Hercules Electric Vehicles is a Detroit Mich.-based electric vehicle manufacturer that plans to bring to market customizable, luxury, high-performance electric pickups and SUVs starting with its 1000-HPAlpha pick up in mid-2022. Hercules’ vehicles will offer integrated solar charging, long-range batteries and optional fuel-cell range extender options. Find out more at: www.HerculesEV.com

About Prieto Battery

Prieto Battery is an advanced technology company focused on the development and commercialization of advanced 3D, solid-state, lithium-ion, rechargeable batteries. The company was founded by Dr. Amy Prieto to commercialize patented 3-dimensional advanced battery technology at its lab and headquarters are in Fort Collins, CO. Prieto is an industry leader in the development of advanced technology batteries with its unique 3D battery architecture that enables both high-power and high-energy density. Alongside the technology, Prieto has also patented a unique low-cost electroplating manufacturing process for its battery that uses non-toxic materials. Please visit www.prietobattery.com for additional information.

Contacts

Prieto Battery

Michael Rosenberg

970-545-4085

inquiries@prietobattery.com

Hercules Electric Vehicles

Daniel Henry

800-397-8267

PR@hercules-EV.com

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