CEO, PRESIDENT, ROMEO POWER, CYPRESS
Battery maker for commercial electric vehicles that this year moved more than 250 employees and its headquarters from Los Angeles to a 215,000-square-foot spot in Cypress, in the latest sign of Orange County’s growing stature as an EV hub. The company’s products are designed to power commercial vehicles such as trucks, buses and delivery vans.
THEN: Romeo Power went public through a reverse merger with a special purpose acquisition company, or SPAC, and started trading on the New York Stock Exchange at the end of 2020. Brennan was named CEO last year, and the move to OC was among her first big acts.
NOW: The opportunity to “recruit and retain talent” was a key factor in the in-progress move to OC, according to Brennan. “R&D is core to Romeo’s success. When we identified the location in Cypress, it was perfect for all kinds of reasons,” including “the ability for us to grow and have enough space to expand our labs.” New space will support the company’s expansion of battery development and testing capabilities next to its production line.
FUTURE: Romeo Power says it will enable battery-operated vehicle owners “to eliminate negative emissions in a safe and cost-effective manner so they can meet the evolving environmental regulations in the U.S. and abroad.” In October completed sale to Nikola Corp., a $144M deal struck in August.
IN THEIR WORDS: Brennan, speaking of the emerging EV market, said that “the total cost of ownership, we’re confident, will continue to improve.” “The electric vehicle industry has reached a critical inflection point and the demand for affordable high-density battery solutions is at an all-time high,” the company added.
