GAUSSIN NA, a fully owned subsidiary of GAUSSIN (EURONEXT GROWTH: ALGAU – FR0013495298), a pioneer of clean and smart freight transport, announces an order for 329 GAUSSIN ATM® 38T “FULL ELEC” yard tractors from Amazon, which is inclusive of the GAUSSIN ATM® 38T “FULL ELEC” yard tractors order referenced in Gaussin’s financial results release from October 31, 2022. The electric yard tractors will be used at Amazon’s U.S. sites.
“This important electric yard tractor order by Amazon represents a significant milestone for GAUSSIN’s revenue growth and global expansion. Amazon’s choice of GAUSSIN is a recognition of the maturity of our turn-key zero-emission solutions, and of our technical, functional, and design differentiators,” said Christophe Gaussin, CEO and President of GAUSSIN Group. “We look forward to working with Amazon to help achieve their decarbonization goals.”
The agreement with Amazon commits to delivering the electric yard tractors to Amazon sites in the United States beginning in 2023. They will be manufactured at GAUSSIN’s facility in France, which currently has the capacity to produce 2,400 electric yard tractors per year. The order is subject to terms and conditions, including that it is cancellable without penalty for a specified period in advance of each tractor’s scheduled delivery date. GAUSSIN NA is also planning to open a manufacturing facility in the U.S. in 2023 to begin transitioning to local fulfillment.
A clean and flexible technology
GAUSSIN vehicles are distinguished by their performance and modularity. The ATM® tractors are capable of towing loads of up to 38 tons, some of which will feature drive-by-wire capabilities.
A step forward in the U.S. for GAUSSIN
These orders represent a step towards expanding GAUSSIN’s commercial and production footprint in North America. They follow previous orders from Plug Power and a series of strategic partnerships and commercial agreements in recent months with other North American companies, the first step in a largescale deployment across the Atlantic.
GAUSSIN NA has capitalized on recent U.S. federal and state government initiatives to provide financial incentives for electric trucks in the form of subsidies and tax breaks, the tightening of emission regulations, and falling battery prices. These developments provide growth opportunities for companies like GAUSSIN, by making the capital investment required to purchase electric trucks more attractive than their diesel counterparts.
Warrants to subscribe for GAUSSIN shares
Amazon will receive warrants without payment for up to 20% of GAUSSIN’s fully diluted shares on a postissuance basis as of the date of signing of the warrant issuance agreement, subject to shareholder approval at an Extraordinary General Meeting of Shareholders to be convened in 2023. Each warrant will entitle its holder to subscribe to one GAUSSIN share, subject to anti-dilution adjustments.
The warrants, which do not represent a direct investment or acquisition of GAUSSIN shares by Amazon, will have a 10-year term from the date of their issuance after shareholder approval and will vest in three successive tranches based on payments by Amazon to GAUSSIN in connection with the orders during such term, with full vesting either if payments reach $500 million, or upon a change of control of GAUSSIN.
The exercise price for the initial 15% of warrant coverage will be €4.04 (i.e., the volume-weighted average price (VWAP) for the 30 trading days preceding this press release), and the exercise price for the remaining 5% will be determined on the date on which payments made by AMAZON in connection with the orders result in the full vesting and exercisability of the initial 15% and will be equal to ninety percent (90%) of the 30-day VWAP preceding such date.
The theoretical dilution on the shareholding of a shareholder holding 1% of the share capital of GAUSSIN prior to the exercise of all the warrants (calculated on the basis of the number of shares representing the share capital of GAUSSIN as of that date) would be as follows: 0.80% (and 0.75% on a diluted basis).
About GAUSSIN
GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding fields: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports, and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group
present in all segments of intelligent and clean vehicles.
In October 2021, GAUSSIN won the Dubai World Challenge for Self-Driving Transport.
In January 2022, GAUSSIN successfully completed the 2022 Dakar Rally with its H2 Racing Truck, the first hydrogen-powered vehicle to enter the race and generate zero CO2 emissions.
In March 2022, Christophe Gaussin was named “Hydrogen Personality of the year” at the Hydrogénies – Trophées de l’hydrogène ceremony held at the French National Assembly.
GAUSSIN has been listed on Euronext Growth in Paris since 2010.
More information on www.GAUSSIN.com