- ZeroNox launches its IndiCon platform to bolster industrial and
construction sector partnerships, distribution, growth, and
support
- The IndiCon platform kicks off with new partnership agreement
with one of the largest full-service equipment dealers in the
Western U.S., Papé Material Handling
Zero Nox Inc. (“ZeroNox” or the “Company”), a leading provider
of sustainable, off-highway vehicle electrification, today
announced a major milestone towards its expansion strategy into the
industrial and construction markets with the launch of its IndiCon
platform. Focused to support large and specialized dealer and
distributor partners in the industrial and construction markets,
IndiCon is a new platform created by ZeroNox to expand its product
distribution footprint in these strategic growth markets while
increasing its service partnerships and potential sales.
ZeroNox launched the IndiCon platform by signing a new
partnership agreement with Papé Material Handling, which is one of
the largest full-service material equipment dealers in the Western
U.S. with 92-full service dealerships across 62 cities, dedicated
to promoting products and operations that support sustainability.
Initially launching in the states of California and Oregon, this
partnership will bring ZeroNox’s products to 16 of Papé Material
Handling’s dealership locations. ZeroNox currently offers its
all-electric Tuatara Utility Vehicles to IndiCon partners, and
plans to offer more products powered by ZeroNox later this
year.
Vonn Christenson, Co-founder and Chief Executive officer, said,
“We are excited to announce today our expansion into the industrial
and construction end-markets through the signing of our first
IndiCon partnership agreement with Papé Material Handling. With the
launch of our IndiCon platform and this new partnership, we’re
excited to start delivering on our growth strategy and bringing our
sustainable solutions to strategic and adjacent markets. We expect
that this partnership with Papé Material Handling will contribute
to our sales meaningfully as we expand to additional locations and
diversify our product portfolio in the quarters ahead.”
As previously announced, ZeroNox signed a definitive business
combination agreement with The Growth for Good Acquisition
Corporation (Nasdaq: GFGD) (“Growth for Good”), a publicly traded
special purpose acquisition company, that is expected to result in
ZeroNox becoming publicly listed. Completion of the transaction is
subject to approval by Growth for Good’s shareholders and other
customary closing conditions.
About ZeroNox
ZeroNox is leading the electrification of off-highway commercial
and industrial vehicles, with best-in- class LFP batteries and an
electric powertrain platform (“ZEPP”) that is cleaner, high
performing, and cost effective. As a first mover in the advanced
off-highway electric vehicle (OHEV) powertrain market, ZeroNox is
proudly designed and engineered in America, with offices in
Porterville, California.
For more information, visit: https://www.zeronox.com and
https://www.linkedin.com/company/zeronox/
The information contained on, or accessible through, ZeroNox’s
website is not incorporated by reference into this press release,
and you should not consider it a part of this press release.
About Growth for Good
Growth for Good, led by CEO Yana Watson Kakar, Chairperson of
the Board of Directors, Vikram Gandhi, CFO Rahul Kakar and board
member Dana Barsky, focuses on sustainable, socially responsible
companies with strong business fundamentals, high growth potential
and a readiness to scale in the public markets. Our team of highly
reputable sustainability investors and seasoned business operators
seek to add strategic and operational as well as financial value to
our merger partner. Growth for Good believes the market opportunity
for sustainable companies has never been stronger and looks forward
to supporting a company that will contribute to the decarbonization
of the global economy.
For more information, visit: https://www.g4ginvestment.com and
https://www.linkedin.com/company/growth-for-good-acquisition-corp/
The information contained on, or accessible through, Growth for
Good’s website is not incorporated by reference into this press
release, and you should not consider it a part of this press
release.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the proposed transaction between Growth for Good and ZeroNox. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release, including but not
limited to: (i) actual market adoption and growth rates of
electrification technologies for commercial and industrial
vehicles; (ii) ZeroNox’s ability to convert trial deployments with
truck fleets into sales orders; (iii) delays in design,
manufacturing and wide-spread deployment of ZeroNox’s products and
technologies; (iv) failure of ZeroNox’s products to perform as
expected or any product recalls; (v) ZeroNox’s ability to expand
its relationships with OEMs and fleet owners, and its distribution
network; (vi) ZeroNox’s ability to develop vehicles of sufficient
quality and appeal on schedule and on large scale; (vii) ZeroNox’s
ability to raise capital as needed; (viii) management’s ability to
manage growth; (ix) the macroeconomic conditions and challenges in
the markets in which ZeroNox operates; (x) the effects of increased
competition in the electrification technology business; (xi)
ZeroNox’s ability to defend against any intellectual property
infringement or misappropriation claims; (xii) the risk that the
transaction may not be completed in a timely manner or at all,
which may adversely affect the price of Growth for Good ’s
securities, (xiii) the risk that the transaction may not be
completed by Growth for Good ’s business combination deadline and
the potential failure to obtain an extension of the business
combination deadline if sought by Growth for Good, (xiv) the
failure to satisfy the conditions to the consummation of the
transaction, including the adoption of the Merger Agreement by the
shareholders of Growth for Good and the receipt of certain
governmental and regulatory approvals, (xv) the occurrence of any
event, change or other circumstance that could give rise to the
termination of the Merger Agreement, (xvi) the effect of the
announcement or pendency of the transaction on ZeroNox’s business
relationships, operating results and business generally, (xvii)
risks that the proposed transaction disrupts current plans and
operations of ZeroNox and potential difficulties in ZeroNox
employee retention as a result of the transaction, (xviii) the
outcome of any legal proceedings that may be instituted against
ZeroNox or against Growth for Good related to the Merger Agreement
or the proposed transaction, (xix) the ability to maintain the
listing of Growth for Good’s securities on a national securities
exchange, (xx) the price of Growth for Good’s securities may be
volatile due to a variety of factors, including changes in the
competitive industries in which Growth for Good plans to operate or
ZeroNox operates, variations in operating performance across
competitors, changes in laws and regulations affecting Growth for
Good’s or ZeroNox’s business and changes in the combined capital
structure, (xxi) the ability to implement business plans,
forecasts, and other expectations after the completion of the
proposed transaction, and identify and realize additional
opportunities, and (xxii) the risk of economic downturns and a
changing regulatory landscape. The foregoing list of factors is not
exhaustive. You should carefully consider the foregoing factors and
the other risks and uncertainties described in the “Risk Factors”
section of Growth for Good’s registration on Form S-1 (File No.
333- 261369), the Registration Statement on Form S-4 discussed
above and other documents filed by Growth for Good from time to
time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Growth for Good
and ZeroNox assume no obligation and do not intend to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise. Neither Growth for Good
nor ZeroNox gives any assurance that either Growth for Good or
ZeroNox or the combined company will achieve its expectations.
Additional Information and Where to Find It
In connection with the proposed transaction, Growth for Good
filed the Registration Statement on Form S-4 with the U.S.
Securities and Exchange Commission (“SEC”) on April 7, 2023, which
includes a document that serves as a prospectus and a proxy
statement of Growth for Good, referred to as a “proxy
statement/prospectus.” The definitive proxy statement/prospectus
was filed on August 2, 2023 and mailed to all Growth for Good
stockholders as of July 10, 2023 on or about August 3, 2023. Growth
for Good may also file other relevant documents regarding the
proposed transaction with the SEC. BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF GROWTH FOR
GOOD ARE URGED TO READ THE REGISTRATION STATEMENT, THE DEFINITIVE
PROXY STATEMENT/PROSPECTUS INCLUDED THEREIN AND ALL OTHER RELEVANT
DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC, INCLUDING ANY
AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN
THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION
ABOUT THE PROPOSED TRANSACTION.
Investors and security holders may obtain free copies of the
registration statement and the proxy statement/prospectus and all
other relevant documents that are filed or that will be filed with
the SEC by Growth for Good through the website maintained by the
SEC at www.sec.gov. The documents filed by Growth for Good with the
SEC also may be obtained by contacting Growth for Good at 12 E 49th
Street, 11th Floor, New York, NY 10017, or by calling (646)
450-1265.
Participants in Solicitation
Growth for Good and ZeroNox and certain of their respective
directors, executive officers and other members of management and
employees may, under SEC rules, be deemed to be participants in the
solicitation of proxies from Growth for Good’s shareholders in
connection with the proposed transaction. Additional information
regarding the interests of those persons and other persons who may
be deemed participants in the proposed transaction may be obtained
by reading the proxy statement/prospectus regarding the proposed
transactions. You may obtain a free copy of these documents as
described in the preceding paragraph.
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version on businesswire.com: https://www.businesswire.com/news/home/20230823398176/en/
ZeroNox For Media: ZeroNoxPR@icrinc.com For Investors:
ZeroNoxIR@icrinc.com
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