BREA, Calif., Sept. 01, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces a signed partnership with Watergen Inc. to develop and equip Mullen’s portfolio of electric vehicles with technology that will produce fresh drinking water from the air for in-vehicle consumer and commercial applications.
Watergen is a pioneering Israel-based company and a global leader in the atmospheric drinking water devices (AWG) market, building technology and equipment that create drinking water from the air. The company’s solutions are the most effective and economical way to solve the pressing issue of drinking water scarcity in any location, at any time, and to enable the elimination of carbon-intensive supply chains and environmentally harmful plastic waste.
Watergen’s technology of “air to clean drinking water” for vehicles can generate a fresh supply of hot and cold drinking water for vehicle occupants. This technology is envisioned for Mullen’s fleet of EV cargo vans and can be utilized in both commercial and recreational vehicle settings. The air-to-water systems will provide up to 5 liters of drinking water daily, directly from the air, while the vehicle is moving and can be used as a fresh water source for the vehicle occupants.
The agreement between the companies has been forged over recent months, with Mullen serving as one of Watergen’s design partners for in-vehicle air-to-water technology, with the goal of Mullen initiating vehicle testing of the new service in the first quarter of 2023.
Steve Elbaz, VP Mobility, Watergen, commented, “The cooperation with Mullen takes us another step towards a cleaner environment and a unique and uncompromising vehicle experience. We are working and will continue to work for a clean future – not just for us but for every person in this world.”
“Our partnership with Watergen has been months in the making and is a very exciting opportunity for both our companies,” said David Michery, CEO and chairman of Mullen Automotive. “Mullen will be the first automotive company to co-develop this technology with Watergen for our entire portfolio of electric vehicles. The opportunities for air-to-water vehicle applications are endless, and Mullen is proud to partner with Watergen on this game-changing technology.”
Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, the Mullen ONE EV Fleet Vans and the DragonFLY Sports Car. Mullen recently announced the “Strikingly Different” U.S. test drive tour and will offer “Front Row” FIVE reservation holders the first chance to test drive and experience the Mullen FIVE in person. Mullen asks interested individuals who have not already done so to book their FIVE reservations here in order to secure a spot on the upcoming national tour. Further details and upcoming progress will be shared on Mullen’s social media platforms and with individuals who opt to stay connected here.
Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership.
Watergen Inc. is an innovative Israeli company (incorporated in Israel in 2009) that has developed a unique, cutting-edge, patented technology through which clean drinking water is generated from the air we breathe using cost-effective energy consumption. Watergen’s impact is creating both an additional clean drinking water source and accomplishing it in the most economically efficient manner, making its unique technology available to all. Watergen’s revolutionary technology has presented a much-needed challenge to save human lives by improving the quality of life for billions of people around the world who suffer from contaminated water sources and the lack of or shortage of a continuous supply of clean drinking water. Generating the water directly from the air enables Watergen’s solutions to be completely independent and autonomous, requiring no infrastructure whatsoever but electricity, making it literally a plug-and-drink solution aimed for everyone.
Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to whether the Company will achieve its objectives for finishing its engineering development within anticipated timelines; and whether the Company’s collaborations with Watergen will be successful or yield anticipated results. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen’s ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen’s ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen’s ability to successfully expand in existing markets and enter new markets; (iv) Mullen’s ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen’s business; (viii) changes in government licensing and regulation that may adversely affect Mullen’s business; (ix) the risk that changes in consumer behavior could adversely affect Mullen’s business; (x) Mullen’s ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date.
Mullen Automotive, Inc.
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