LONDON & BEIJING--(BUSINESS WIRE)--Giga Carbon Neutrality Inc (�GCN�), the intelligent commercial mobility and clean energy technology company, today announced that it has signed a Memorandum of Understanding to acquire a majority stake in Admiral Corporation of America Inc (�Admiral�) and subsidiary companies. Admiral, first established as Transformer Corporation of America in 1924, then re-established and re-branded in 1934 by founder Ross Siragusa, in its nearly 100-year history has been a global leader in home appliances and electronics. As it joins the GCN group of companies, Admiral is diversifying into the fast-growing sustainability business providing solutions in e-mobility, charging and energy storage.

Upon completion of the acquisition, GCN will integrate its new energy mobility solutions � both battery and hydrogen powered logistics vehicles, specialist vehicles and buses � and mobile and stationary energy storage capabilities with Admiral subsidiary Admiral America Energy Inc (�AAE�).

Richard Martin, CEO at Giga Carbon Neutrality, commented:

This agreement brings the historic and well-loved Admiral brand into the GCN family. We are excited to avail ourselves of the opportunity of associating the trusted Admiral name with GCN�s worldwide mission of reducing carbon emissions through its full range of new energy vehicles.

About Giga Carbon Neutrality (www.gigacarbonneutrality.com)

Giga Carbon Neutrality is a clean energy trucking and technology company that makes running clean, reliable vehicle fleets easy for industrial and commercial transportation companies. GCN'S portfolio includes battery-electric and hydrogen fuel cell vehicles and marine vessels and clean energy storage, charging and refueling infrastructure support.

About Admiral (www.admiral-america.com), (www.admiral.energy)

Admirals foray into Electrical Appliances commenced in 1934. Admiral received �Excellence� award from the U.S. government for its production efforts during the second world war in April 1944. The tagline for the brand was �Admiral first�. Admiral America Energy Inc envisions a new journey with Battery Electric Vehicle (BEV) and Fuel Cell Electric Vehicle (FCEV) to provide multiple clean energy solutions in electric, hydrogen fuel cell & methanol for a comprehensive ecosystem in clean energy commercial transportation.

Contacts

For more information:
Giga Carbon Neutrality

[email protected]

Admiral

Abby Thomas, +1 425 559 1602

[email protected]