Damon Motors Achieves Major Milestone towards the Production of the HyperSport Premium Electric Motorcycle

• Kicks off production preparations with Aluwag and Fukuta Elec. & Mach. Co. Ltd

VANCOUVER, BC, March 12, 2024 /PRNewswire/ - Damon Motors Inc. ("Damon" or the "Company"), the disruptor in high-performance two-wheel mobility, is thrilled to announce notable advancements in the commercialization and production preparations of its flagship motorcycle, the Damon HyperSport. In a strategic move to bolster the Company's production capabilities, Damon has partnered with Swiss die casting company, Aluwag AG, to produce the motorcycle's innovative die-cast aluminum battery case. Furthermore, Damon is collaborating with Taiwan-based manufacturer, Fukuta Elec. & Mach. Co. Ltd, to bring its revolutionary high-speed electric motor-gearbox into production.

"We're blown away by our HyperDrive battery and powertrain performance," says Damon's CTO Derek Dorresteyn. "It's a game-changer, propelling us closer to production goals."

Damon is set to revolutionize motorcycling with a growing book of USD$88 million in reservation orders from over 3400 people. It is the only motorcycle company to feature patented transforming rider ergonomics Shift™, and offers a unique high-voltage 200hp powerplant. By developing its patented CoPilot™ AI-enhanced collision warning system, Damon is also providing new levels of safety to the industry. With more than twice the range of a typical combustion sportbike at 200 miles on a single charge and rapid-charging built in, riders can finally have it all. 

The collaboration with Aluwag AG marks a pivotal step in motorcycle engineering and design. The Swiss company, known for its expertise in die casting, has received the final tool designs from Damon to produce its large, 20kWh patented assembly battery case that not only acts as a watertight enclosure for the HyperSport's 500-volt liquid-cooled pack, but also doubles as the motorcycle's chassis. Damon's novel approach to integrating its pack with the chassis into a single unit significantly reduces mass, parts count, complexity and cost, setting a new standard for electric motorcycle design.

"We are honored to work with Damon, a company that shares our commitment to innovation and quality," said René Wagner, CEO of Aluwag AG. "This partnership is a testament to the power of collaboration in advancing the future of electric mobility. Our die casting expertise, combined with Damon's visionary design, will produce a motorcycle battery case that is not only functional but integral to the HyperSport's structural integrity."

In addition to the collaboration with Aluwag AG, Damon is excited to announce its partnership with Fukuta Elec. & Mach. Co. Ltd, a leader in the electric vehicle ("EV") motor space known for its automated winding equipment, precision stamping, and assembly of motors. Fukuta Elec. & Mach. Co. Ltd has received the final tool designs to produce Damon's patented high-speed electric motor-gearbox, a compact powerhouse weighing just 30kg, but capable of delivering 500Nm of torque at the output shaft and over 150kW of power. This collaboration underscores Damon's dedication to integrating cutting-edge technology and manufacturing excellence into its products with Fukuta Elec. & Mach. Co. Ltd, who is ready for scale.

"We are excited about the opportunity to produce Damon's compact motor-gearbox," said Gordon Chang, CEO of Fukuta Elec. & Mach. Co. Ltd. "Our collaboration with Damon showcases our capabilities and commitment to innovation in the EV space, pushing the boundaries of what's possible in motorcycle performance."

Damon CEO Jay Giraud adds, "Aluwag AG and Fukuta Elec. & Mach. Co. Ltd are vital partners in our mission. Together, we're reshaping motorcycling's future, where the performance-to-weight ratio can start to exceed that of combustion motorcycles."

The Damon HyperSport, set to redefine motorcycles, offers riders unparalleled performance, range, and safety features. These strategic partnerships with Aluwag AG and Fukuta Elec. & Mach. Co. Ltd are crucial steps in Damon's journey towards bringing safer, sustainable, high-performance motorcycles to riders around the globe.

Damon Motors is a global technology leader disrupting urban mobility, led by entrepreneurs and executives from world-class automotive and technology companies. With its offices in San Rafael, California and headquartered in Vancouver, Canada, Damon is on a mission to cause a paradigm shift for safer, smarter motorcycling. The Company is delivering on its promise with award-winning innovation and groundbreaking technologies. Anchored by its proprietary electric powertrain, HyperDrive, Damon has captured the attention of the motorcycling world by delivering top speeds of 200 mph, innovative design, and new features, including CoPilot and Shift, that are attracting an entirely new generation of riders. With strong consumer interest in the US and abroad, Damon aims to set a new standard for motorcycle safety and sustainability worldwide. For more information on how Damon technology is defining the new industry standard, please visit damon.com and follow the Company on LinkedIn, Instagram, Facebook and Twitter.

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"), which reflect Damon's current expectations and projections about its future development. When used in this press release, forward-looking statements can be identified by the use of words such as "may," or by such words as "will," "intend," "believe," "estimate," "consider," "expect," "anticipate," and "objective" and similar expressions or variations of such words. Forward-looking statements are, by their nature, not guarantees of Damon's future operational or financial performance and are subject to risks and uncertainties and other factors that could cause Damon's actual results, performance, prospects, or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. No representation or warranty is intended with respect to anticipated future results, or that estimates, or projections will be sustained.

Forward-looking statements in this press release include, but are not limited to, statements relating to the global reservations amount for the pre-production of Damon motorcycles, the expected performance level and safety of Damon motorcycles, the potential benefits from partnership agreements, and the integration of the battery case and motor-gearbox into the current production capabilities of Damon.

In developing the forward-looking statements in this press release, we have applied several material assumptions, including the general business and economic conditions of the industries and countries in which Damon operates and the general market conditions.

Many risks, uncertainties, and other factors could cause the actual results of the Damon to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the following:

• the risk that Damon's non-binding reservations are canceled, modified, delayed or not placed and that Damon must return the refundable deposits and such reservations are not converted into sales;
• the risks relating to Damon's ability to satisfy the conditions and deliver on the orders and reservations, its ability to maintain quality control of its motorcycles, and Damon's dependence on third parties for supplying components and manufacturing the motorcycles;
• the risk that other motorcycle manufacturers develop competitive electric motorcycles or other competitive motorcycles that adversely affect Damon's market position;
• the risk that Damon's patent applications may not be approved or may take longer than expected, and Damon may incur substantial costs in enforcing and protecting its intellectual property;
• any adverse changes in U.S. or Canadian general economic, business, market, financial, political or legal conditions, including as a consequence of the ongoing uncertainties relating to inflation and interest rates;
• any adverse effects of current military conflict between Russia and Ukraine or the Israeli-Hamas War, which continues to affect economic and global financial markets and exacerbate ongoing economic challenges;
• any unfavorable fluctuations and volatility in the availability or price of raw materials included in components used to manufacture Damon's products;
• the reliance on key management and any inability to attract and/or retain key personnel; and
• any inability to raise additional funds to meet its capital requirements and pursue its growth strategy when and in the amounts needed.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of the press release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, events may differ materially from current expectations. Damon disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required pursuant to applicable securities law. All forward-looking statements contained in the press release are expressly qualified in their entirety by this cautionary statement.

SOURCE Damon Motorcycles