GEM agrees to increase investment commitment in Mobius.energy from $50 million to $100 million

Mobius.energy Corporation (Mobius) secures an increase to $100 million in its investment commitment from GEM Global Yield LLC SCS ("GEM"), the $3.4 billion, Luxembourg-based private alternative investment group. This amended agreement doubles the previously announced $50 million investment commitment from GEM signed only four months ago. Mobius will use the funds to scale up battery module production to support electric aircraft customers through a subscription model including maintenance and salvage services.

GEM will provide Mobius with a Share Subscription Facility of up to $100 million for a 36-month term following a public listing, which will allow Mobius to draw down funds by issuing shares of common stock to GEM. Mobius will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation. Mobius has issued warrants to GEM, exercisable upon public listing, to purchase up to 3% of the common stock of the company. With the certainty of the increased investment upon listing at an amount commensurate with market forces, Mobius achieved another milestone toward becoming a public company via SPAC merger or a traditional IPO process.

"GEM has graciously increased the investment amount in response to requests from blank check companies currently discussing a merger with Mobius. With this increase, Mobius is one step closer to achieving our mission; accelerate the transition to renewable energy by building a circular economy of battery," stated Mr. Eugene Choi, Mobius' Founder and Chief Executive Officer.

Mobius has finalised the product design of its Husky 2P45, the company's first commercial offering for the electric aviation market. Testing by an independent lab will start in March 2022. This year, Mobius is pursuing aerospace certification, "FAA TSO-C179b Rechargeable Lithium Batteries and Battery Systems," and plans to scale up production in 2023.