SOURCE: Ronn Motor Company

Ronn Motor Company

April 22, 2010 09:00 ET

Angeltouch Reconfirms Long Term Strategic Funding Commitment to Ronn Motor Company

MARBLE FALLS, TX--(Marketwire - April 22, 2010) -  The board of directors for Ronn Motor Company (PINKSHEETS: RNNM) announced today that they have received a reconfirmation of the commitment for long term strategic funding of up to $6 million dollars from the consortium led by Angeltouch Petroleum & Refining, Inc. and Real Business Loans, LLC.

"With Ronn Motors' new manufacturing and headquarters facility nearing completion, we wanted to renew and reconfirm our commitment to provide the necessary funding to jumpstart the H2GO™ and Scorpion HX™ production," says Dr. Brian A. Dupree, CEO of Angeltouch Petroleum. "It is an exciting time for us to be able to participate with a dynamic, innovative company like Ronn Motors who is on the leading edge of these environmentally friendly products and markets."

"Everything we need is now in place. Production planning for H2GO™ and the Scorpion HX™ has been completed," stated Ronn Maxwell, President and CEO of the Company. "The recommitment of capital was the ultimate important step in the process as we finalized our ramp up plans. Once our new facility is available to us, we will be ready to begin moving forward with manufacturing to deliver eco-friendly, sustainable, alternative energy, fuel efficient products."

About Ronn Motors: Headquartered in Marble Falls, Texas, Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and "green," eco-responsible technology. These technology systems include Hydrogen Fuel, Fuel Cells, and Plug-in Electrics and will be incorporated into our automobiles to be made available for aftermarket applications. Our products, coupled with RMC's core values of a strong sense of ethics, environmental sensitivity and premium quality, position the company as one of the new leaders in an automotive industry transitioning toward fuel efficiency. For more information, please visit www.ronnmotors.com

About Angeltouch: Angeltouch Petroleum & Refining, Inc., based in Stockbridge, Georgia, is a private crude and refined petroleum product reseller and a leader in the charge for financing and developing alternative energy products and projects. The company's private capital unit researches alternative energy projects and structures investments therein by using its own private capital and coordinating the application of other project financing resources. Angeltouch is an aggressive energy company that is dedicated to promoting and making investments in alternative energy projects.

Contact Information

  • For information contact:
    Ronn Motor Company
    512-879-6293