Separately, Reenova has been undergoing multiple rounds of fundraising to help pay for the fees involved in the RTO.
Japanese battery developer 3DOM Inc, whose subsidiary is in the midst of a reverse takeover (RTO) deal with Singapore-listed Reenova Investments, has announced plans to create the world’s first carbon- neutral commercial fleet service with leading Chinese automaker Geely.
Under a memorandum of understanding, 3DOM’s subsidiary, 3DOM Singapore, will supply batteries to Geely’s subsidiary Jiangxi Geely New Energy Commercial Vehicle (GCV). Back in November last year, Reenova announced that it is acquiring 3DOM Singapore in an RTO deal potentially worth some US$1 billion ($1.35 billion).
