ZeroNox celebrated the launch of its partnership with the Jospong Group of Companies (JGC), one of Ghana’s most diversified holding companies, by celebrating the launch of its partnership with the Jospong Group of Companies (JGC).
The formal signing of the Joint Venture agreement to advance clean technology solutions in Africa has taken place in the first week of May 2023 at the headquarters of Zero Nox Inc. (“ZeroNox”), a leading provider of sustainable, off-highway vehicle electrification.
In celebration of this significant step towards a cleaner future for all, ZeroNox Co-Founder and CEO Vonn Christenson, Co-Founder and President Robert Cruess, COO Jason Eggett, and CTO Jacob Gotberg were joined by leaders from the United States Congress and the government of Ghana.
This step was made possible by the innovative technology developed by ZeroNox, which is disrupting the industry.
Significant steps forward have been taken by both ZeroNox and the Jospong Group with the recent announcement of the world’s largest fleet retrofit electrification project and the signing of a joint venture agreement between the two companies.
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The Impact of the partnership between ZeroNox and JGC
These developments position Ghana as the gateway to the distribution of electric vehicles and related technology throughout Africa. The ZeroNox Electric Powertrain Platform (abbreviated as “ZEPP”) will be utilised in the process of converting one thousand garbage trucks owned by the Zoomlion subsidiary of the Jospong Group from gas to electric power as part of this arrangement.
During the ceremony, a prototype of an all-electric garbage truck, which is the first of its kind and a notable achievement in the Refuse Truck Electrification Project, made its world premiere.
It is anticipated that the electrification of the 1,000-vehicle fleet of trash trucks owned by Jospong Group by ZeroNox will reduce the quantity of carbon dioxide (CO2) in the atmosphere by 400,000 metric tonnes over the course of five years.
This is the same as planting 18 million mature trees. The Jospong Group anticipates that they will earn a return on their investment in fewer than three years as a consequence of the estimated savings of $323 million over a period of five years.
“We are excited to partner with a global leader like the Jospong Group in executing the world’s largest fleet retrofit electrification project,” stated Christenson.
“This partnership emerged out of an alignment in the missions of our two organizations – a desire to deliver a better and more sustainable future and one where we can reduce carbon emissions without diminishing vehicle performance. We look forward to fostering similar, high-impact strategic partnerships in the future.”
During the course of the event, the Ghanaian Government honoured ZeroNox and Jospong Group with an award in recognition of their efforts to the reduction of global carbon emissions and the teaching of Ghana’s young about the solutions that may be found in green technology.
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Remark from Associate
“I am delighted about this partnership, which holds great prospect for the sustainability agenda of Ghana and Africa as a whole,” remarked Dr. Joseph Siaw Agyepong, Founder and Executive Chairman of the Jospong Group and Zoomlion Ghana Limited.
“I am very pleased to see that the Jospong Group is leading the transition to green energy by powering our fleet with ZeroNox’s highly differentiated technology. We believe this is a game-changing collaboration, which will result in the mutual benefit of our people.”
The signing of a definitive business combination agreement between ZeroNox and The Growth for Good Acquisition Corp. (Nasdaq: GFGD) (“Growth for Good”), a publicly traded special purpose acquisition company, was previously disclosed.
This arrangement is likely to result in ZeroNox becoming publicly listed. The completion of the transaction is contingent on Growth for Good’s shareholders giving their consent, in addition to meeting any other usual closing conditions.