Enhanced Quality Control, Safety and Reliability across Romeo Power’s Battery Value Chain

Romeo Power, Inc. (“Romeo Power”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, and Dynexus Technology, a leader in battery sensing solutions and data-driven battery intelligence, today announced a collaboration to integrate Dynexus Technology’s actionable battery performance and health sensors into Romeo Power’s battery ecosystem.

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The technology developed by Dynexus will initially be utilized for incoming cell quality control and end-of-line verification, as well as module and pack diagnostics and prognostics, enabling multiple opportunities to reduce total cost of ownership for Romeo Power’s customers.

“As part of our holistic approach, we’re committed to being first movers in progressing battery safety and performance technology and features,” said AK Srouji, CTO of Romeo Power. “Dynexus generates critical data that can accelerate the qualification process of cells and batteries, including cell screening and matching, further improving quality control, safety and reliability of our battery systems. We look forward to collaborating with Dynexus to advance the electrification of commercial vehicles.”

Dynexus’s award winning and patented Inline Rapid Impedance Spectroscopy (iRIS®) sensors generate near real-time, rich, frequency-based battery data that provide information about the state of the battery physico-chemistry. Traditional measurement methods treat the battery as a blackbox. The Dynexus sensor “looks” inside the battery and generates a “fingerprint” or signature that uniquely describes a battery’s health, degradation, and therefore safety.

Romeo Power will integrate iRIS into its proven battery systems, providing a new class of battery data that, until now, was only available for research purposes and was not practical as a commercial sensor or tool. This cutting-edge technology enables measurements that typically take 30 minutes, to be reduced to 10 seconds or less. As a result, this game changing technology provides significant commercial application opportunities for Romeo Power’s advanced electrification solutions.

Dynexus Technology’s iRIS system has been validated in Romeo Power’s in-house testing lab and demonstrates superior accuracy and repeatability. The iRIS system also has high voltage capability and enables measurements under dynamic battery conditions. In addition to screening and quality control applications, Romeo Power intends to implement iRIS inside its next-generation battery systems and is expected to start road testing in 2022. This integration is also additive to Romeo Power's sustainability efforts as it may enhance reuse and battery second life assessment.

“We are excited to work with an energy technology leader like Romeo Power as we enable advanced diagnostics and prognostics for lithium-ion batteries,” said David Sorum, CEO of Dynexus Technology. “Integrating our in-line and on-board battery sensing solutions will not only reduce diagnostic times, but will also maximize performance, safety and the overall lifetime value for end users.”

About Romeo Power

Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The company’s suite of advanced hardware, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. Romeo Power's 113,000 square-foot manufacturing facility brings its flexible design and development process inhouse to pack the most energy dense modules on the market. To keep up with everything Romeo Power, please follow the company on social media @romeopowerinc or visit romeopower.com.

About Dynexus Technology

Founded in 2015 and headquartered in Loveland, Colorado, Dynexus Technology is a leader in data-driven battery intelligence sensors. With the goal of creating a safer and smarter electrified world, Dynexus Technology is on a mission to provide efficient and accurate in-line battery data for advanced diagnostic and prognostic solutions. Our vision is to optimize the value of electrified platforms, and ensure they perform safely and predictably throughout their lifecycles. For more information, please visit www.dynexustech.com.

Notice Regarding Forward Looking Statements

Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Romeo Power in general, see the risk disclosures in Romeo Power’s Annual Report on Form 10-K for the year ended December 31, 2020 and in other filings made with the SEC by Romeo Power. Forward-looking statements speak only as of the date they are made and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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