Alkido Pharma Inc. (NASDAQ: AIKI) has announced that it has acquired an equity interest in electric truck producer Tevva Motors Ltd.
Tevva creates modular electric systems
Tevva Motors is a prominent developer of modular electrification solutions for medium-duty heavy trucks based in the United Kingdom. Using a system engineering approach, the company has created world-class electric vehicle tech that meets the most stringent safety, reliability, and sustainability standards. Tevva’s fundamental unique tech includes a battery pack and management system, software, control system, and an optional range extender. The tech is are adaptable to nearly any current 7.5t – 14t truck and are sold as a package to OEMs for connection with their vehicles.
Alkido CEO Anthony Hayes said, “From a commercial standpoint, delivery trucks are a $100 billion global market and demand for a cost effective, zero emission solution is growing by the day. With strategic partners and early customers including, Ryder, Hitachi and UPS, and with Tevva vehicles already being used in their delivery services, Tevva is well positioned to take advantage of this rapidly growing sector.”
Tevva pursuing a public listing
Hayes continued, “This unique and high growth opportunity represents an opportunity to partake in a rapidly expanding field, with the possibility of an exit in early 2022 as Tevva pursues a public listing. As we continue to focus on our core business, which is drug development. However, in our search for opportunities in our space, this unique growth opportunities with strong likelihood for monetization events, was presented to us. We are always looking to create shareholder value while limiting exposure in exciting and growing industries. We hope this short-term opportunity becomes an asset for our shareholders, like DatChat.”
Alikdo has a diverse portfolio of anti-cancer treatments comprising of patented tech from leading researchers and universities. Currently, the company is developing a proprietary therapeutic platform through a partnership with the University of Maryland Baltimore and The University of Texas.