Nestbuilder.com Corp (OTCMKTS: NBLD) is up big after the Company announced a reverse merger with Renewable Innovations, Inc. (RI). The stock started trading at $0.05 on Thursday after the reverse merger was announced and ran to highs of $0.93 before closing at $0.80 up 2,200% on about $1.5 million in dollar volume on the day.
According to the press release Renewable Innovations shareholders will retain ninety-three percent (93%) of the publicly traded entity, which has been renamed Renewable Innovations, Inc. The Company intends to leverage its breakthrough hydrogen fuel cell technology, bringing grid independent, clean, renewable solutions for power generation and sustainability to the market.
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Renewable Innovations, Inc. (RI) (OTCMKTS: NBLD is accelerating the growth and opportunities within the renewable economy. Their team of industry leaders brings extensive experience and invaluable connections across the Renewable, Hydrogen, and Alternative Energy sectors. Along with their partners, investors, and clients, they are making major technological advancements with products and solutions to lead the world into a new and exciting carbon-free future. Learn more at Renewable-Innovations.com.
According to the press release:
Renewable Innovations and Nestbuilder (OTC:NBLD) Merge with Goals to Accelerate Clean Energy Adoption
Press Release | 12/01/2022
Renewable Innovations, Inc. brings industry leading, grid independent tech to market
New York, NY, Dec. 01, 2022 (GLOBE NEWSWIRE) — Renewable Innovations, Inc. (RI), a leader in clean, hydrogen fuel cell energy systems, today announces its merger with Nestbuilder.com Corp. (OTC:NBLD). With a focus on commercial applications for hydrogen-powered systems, RI designs and manufactures primary and backup power generation systems for rapid EV charging, office parks, data centers and retail facilities as well as infrastructure solutions and systems.
Renewable Innovations shareholders will retain ninety-three percent (93%) of the publicly traded entity, which has been renamed Renewable Innovations, Inc. The Company intends to leverage its breakthrough hydrogen fuel cell technology, bringing grid independent, clean, renewable solutions for power generation and sustainability to the market. Plans include expansion into retail power distribution, especially along the US highway system through organic growth and acquisitions. Currently, the company is in production on orders for government and private company projects. Renewable Innovation’s integration technology allows for rapid charging of a vehicle in under 20 minutes, offering a significant time savings over current EV charging portals. Since the hydrogen-fueled systems require no grid infrastructure, they can be provisioned anywhere that rapid, carbon-free power is needed.
“With the global focus and increased investments on sustainable and clean energy solutions, this is the perfect time to bring our proprietary technology to the public markets,” noted industry veteran Robert Mount, CEO of Renewable Innovations. Alex Aliksanyan, CEO of Nestbuilder added “We are excited to be partnering with Renewable Innovations, a first in class, hydrogen based, electric power product manufacturer. We see a limitless future for the company.”
Renewable Innovations, Inc. will continue to trade on the OTCQB marketplace maintained by OTC Markets Group, Inc. under the symbol “NBLD” until such time as FINRA approves the name and symbol change. The Company intends to file for a listing on NASDAQ as soon as it is eligible.
The Company also filed an 8k that stated:
Immediately prior to the Merger, there were 6,090,580 shares of our Common Stock issued and outstanding and warrants outstanding to acquire up to an aggregate of 10,135,000 shares of our Common Stock. As a result of the Merger, we issued to the shareholders of Renewable Innovations an aggregate of 2,155,684 shares of our Series A Convertible Preferred Stock, par value $0.0001 per share, each share of which is convertible into 100 shares of our Common Stock, which represents a 93% ownership interest based on our fully-diluted capitalization immediately following the Merger. As a result of the foregoing transactions, we underwent a change of control on December 1, 2022.
Renewable Innovations, Inc. recenty announced a deal with GM
GM Plans to Broaden Electrification, Expanding Fuel Cells Beyond Vehicles
GM’s HYDROTEC-based mobile and fixed power systems can charge EVs, power worksites, data centers, support the military and even emergency power
DETROIT – GM continues to accelerate its growth as a platform innovator and announced today new commercial applications of its HYDROTEC fuel cell technology. HYDROTEC projects, which are currently in development, from heavy-duty trucks to aerospace and locomotives, will now be used beyond vehicles for power generation.
- GM is planning multiple HYDROTEC-based power generators, all powered by GM’s Generation 2 HYDROTEC fuel cell power cubes, including:
- A Mobile Power Generator (MPG) to fast-charge EVs without installing permanent charge points
- The EMPOWER rapid charger to help retail fuel stations add affordable DC fast charging without expanding the grid
- A palletized MPG to quietly and efficiently power military camps and installations
These fuel cell generators could ultimately replace gas- and diesel-burning generators with fewer emissions at worksites, buildings, movie sets, data centers, outdoor concerts and festivals. They could also back up or temporarily replace grid-sourced electricity for residential and small commercial enterprises at times of power disruption.
Each of these HYDROTEC-based power generators feature zero emissions’ electric power generation output ranging from 60 kilowatts to 600 kilowatts, along with low noise(1) and heat signatures(2).
“Our vision of an all-electric future is broader than just passenger vehicles or even transportation,” said Charlie Freese, GM executive director of the global HYDROTEC business. “Our energy platform expertise with Ultium vehicle architectures and propulsion components and HYDROTEC fuel cells can expand access to energy across many different industries and users, while helping to reduce emissions often associated with power generation.”
Mobile Power Generator
GM is supplying HYDROTEC fuel cell power cubes to Renewable Innovations of Lindon, Utah to build the Mobile Power Generator. GM will combine its fuel cell hardware and software with Renewable Innovations’ power integration and management systems to create a generator that can provide fast-charging capability for EVs without having to expand the grid or install permanent charging assets in places where there’s only a temporary need for power.
Multiple development projects involving the MPG are already in process, including a demonstration of the technology as a mobile charging station for EVs funded in part by the Michigan Economic Development Corporation and the U.S. Army Combat Capabilities Development Command Ground Vehicle Systems Center. This version of the MPG is expected to first be demonstrated in mid-2022.
“As pioneers and innovators in the hydrogen power space, Renewable Innovations sees exciting opportunities across consumer, business, government and industrial markets,” said Robert Mount, CEO and co-founder of Renewable Innovations. “We’ve seen that there’s a need for EV charging in places where there’s no charging equipment, and now we’re committed to bringing the best technology and game-changing applications to market with GM to accelerate the company’s vision of a zero emissions future.”
The California Energy Commission is funding a separate demonstration program of four additional MPGs through its Mobile Renewable Backup Generation systems program to show how hydrogen-based mobile power can help offset the loss of energy during the planned power shutoffs used to mitigate wildfires throughout the state.
This demonstration is being led by the Electric Power Research Institute, the preeminent independent, non-profit energy research and development organization, collaborating with stakeholders like GM and Renewable Innovations to ensure the public has safe, reliable, affordable and equitable access to hydrogen-generated electricity.
Retail EV charging stations
In addition to mobile EV charging, GM and Renewable Innovations have collaborated on the EMPOWER rapid charger. Intended to help retail fuel stations add more affordable DC fast charging capability, the EMPOWER rapid charger will help deploy necessary fast charging without significant investment in nonrecoverable electrical infrastructure upgrades, like larger feed wires, transformers and potentially new substations.
EMPOWER rapid chargers can be installed at existing fuel stations or along corridors frequented by travelers only part of the year, such as national parks or vacation destinations.
The EMPOWER rapid charger, powered by eight GM HYDROTEC power cubes, consumes hydrogen from internal tanks and can DC fast charge as many as four vehicles simultaneously starting at 150 kW with a target full charge time of 20 minutes. More than 100 EVs can be charged by the EMPOWER rapid charger before the unit needs to be resupplied with hydrogen.
Renewable Innovations plans to deploy 500 EMPOWER rapid chargers across the country by the end of 2025.
Palletized Mobile Power Generator System
GM designed a separate, palletized version of the MPG which is now being evaluated by U.S. Army Combat Capabilities Development Command Ground Vehicle Systems Center (GVSC). GVSC is also exploring how this version of the MPG can power heavy-duty military equipment and camps. This prototype is equivalent in size to a 60-kW generator and produces nearly 70 percent more power than traditional diesel generators. This MPG variant also contains features not typically found on diesel generators, like battery backup and output regulation.
Powered by a HYDROTEC power cube, this MPG prototype converts offboard, bulk-stored hydrogen to electricity generated with no emissions in operation. It generates less noise than a conventional diesel engine at full load and emits water which can be captured and repurposed in the field.
GM will produce HYDROTEC power cubes at its Fuel Cell Systems Manufacturing joint venture with Honda in Brownstown, Michigan. Renewable Innovations will produce the trailer-based MPG and the larger, modular EMPOWER rapid charger at their facilities in the Salt Lake City metro area.