Munich, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The solar technology company Sono Group N.V. (OTCQB: SEVCF) (hereafter referred to as “Sono” or the “Company”, parent company to Sono Motors GmbH or “Sono Motors”) is pleased to announce the commercial launch of its groundbreaking solar technology for trailers equipped with refrigeration units. Building on enthusiastic industry feedback at IAA Transportation 2024, this innovative technology underscores Sono’s commitment to transforming sustainable logistics and reducing emissions across the transport sector.

Sono’s advanced solar solution leverages semi-flexible photovoltaic (PV) modules and a proprietary intelligent high-voltage solar charge controller that optimizes each PV panel in real-time. This unique energy management approach provides refrigerated trailers with independent power for up to 3-4 hours daily, significantly lowering energy consumption. Engineered to meet rigorous industry standards as well as Sono’s internal benchmarks, the system offers reliability designed for the demands of potential customers worldwide.

Financial and Operational Returns for Forward-Looking Fleet Operators

Sono’s solar technology is projected to deliver solid returns on investment, with an expected payback period of approximately 3 years based on geographic location and hours in operation. The system enables operators to run trailers independently of external power, reducing dependence on charging infrastructure, minimizing downtime, and providing a direct hedge against volatile energy costs. With their own onboard solar energy source, Sono’s customers can achieve higher efficiency and position their fleets as industry leaders in sustainable, eco-friendly logistics.

The solution has already sparked significant interest from temperature-controlled unit (TRU) suppliers, fleet operators and trailer manufacturers, underscoring its potential to transform sustainable logistics.

Accelerating Industry Decarbonization Through Innovation and Collaboration

As part of a broader commitment to reduce CO2 emissions, Sono is participating in the evTrailer project, a research initiative aimed at measuring the positive impact of solar-powered trailers on energy use and emissions. The insights from this project could make solar-equipped trailers an industry-standard solution in the VECTO tool, a European Union system enabling logistics operators to track and report emissions. Sono aims to standardize solar technology in fleet emissions reduction, supporting fleet operators in achieving regulatory and sustainability goals while leading the next wave of innovation in transportation.

For more information about Sono Group N.V., Sono Motors, and their solar solutions, visit sonogroupnv.com and sonomotors.com.

ABOUT SONO GROUP N.V.

Sono Group N.V. (OTCQB: SEVCF) and its wholly-owned subsidiary Sono Motors GmbH are on a pioneering mission to accelerate the revolution of mobility by making every vehicle solar. Their disruptive solar technology has been developed to enable seamless integration into all types of vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility.

CONTACT

Press:

press@sonomotors.com | ir.sonomotors.com/news-events

Investors:

ir@sonomotors.com | ir.sonomotors.com

LinkedIn:

https://www.linkedin.com/company/sonogroupnv

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. The words "expect", "anticipate", "intend", "plan", "estimate", "aim", "forecast", "project", "target", “will” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the intentions, beliefs, or current expectations of the Company and Sono Motors GmbH (together, the “companies”). Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and could cause the companies’ actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and assumptions include, but are not limited to, risks, uncertainties and assumptions with respect to: our ability to access the unfunded portion of the investment from YA II PN, Ltd. (“Yorkville”), including our ability to successfully comply with the agreements related thereto and the absence of any termination event or any event of default; our ability to maintain relationships with creditors, suppliers, service providers, customers, employees and other third parties in light of the performance and credit risks associated with our constrained liquidity position and capital structure; our status as a foreign private issuer under the Securities Exchange Act of 1934; our ability to comply with OTCQB continuing standards, as well as our ability to have our shares admitted to trading on a stock exchange in the future; our ability to achieve our stated goals; our strategies, plan, objectives and goals, including, among others, the successful implementation and management of the pivot of our business to exclusively retrofitting and integrating our solar technology onto third party vehicles; our ability to raise the additional funding required beyond the investment from Yorkville to further develop and commercialize our solar technology and business as well as to continue as a going concern. For additional information concerning some of the risks, uncertainties and assumptions that could affect our forward-looking statements, please refer to our filings with the U.S. Securities and Exchange Commission (“SEC”), including our Annual Report on Form 20-F, which are accessible on the SEC’s website at www.sec.gov and on our website at ir.sonomotors.com. Many of these risks and uncertainties relate to factors that are beyond our ability to control or estimate precisely, such as the actions of courts, regulatory authorities and other factors. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.

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