Benzinga | Nov 30, 2021 04:44PM EST

Alpine 4 Acquires EV Battery Maker ElecJet

* Alpine 4 Holdings Inc (NASDAQ:ALPP) acquired ElecJet / Real Graphene (ElecJet), an industry pioneer in Lithium / Graphene battery manufacturing and design.

* The financial terms of the transaction remain undisclosed.

* The two companies, Real Graphene, and ElecJet merged earlier this year, leading to the combination of the graphene intellectual property of Real Graphene and the power system/charging hardware of ElecJet.

* ElecJet and Alpine 4 are also exploring plans with the State of Indiana to convert its South Bend, Indiana facility into a U.S. battery production facility and bring graphene battery production to the U.S.

* "We feel this is the game-changer for the EV market as well as other various commercial applications," Alpine 4 CEO Kent Wilson said.

* Price Action: ALPP shares traded lower by 0.40% $2.52 in the premarket session on the last check Tuesday.