Boston, MA – Tue May 5, 2026 – Today, Electra Vehicles becomes ELECTRA AI.
It is the same company. The same team. The same technology — inspired by space-grade research, advanced through NVIDIA’s Inception program, and backed by Stellantis, BlackBerry, and the Ferrari Family Investments — built around a conviction the rest of the market is only now waking up to:
The battery is no longer the constraint. The intelligence around the battery is.
We did not rename a company. We told the truth about what it had already become.
When this company was founded, the world saw batteries as one thing: a power source for cars. We saw something different. We saw the central nervous system of a coming century — a century in which energy would be stored, moved, balanced, and intelligently dispatched at every layer of human civilization.
That vision is now reality.
Batteries no longer sit only under the hood. They stabilize the grid. They keep the lights on for the hyperscale data centers, training the next generation of artificial intelligence. They give wind and solar their reliability. They power the autonomous robots reshaping logistics, the humanoids walking onto factory floors, the drones surveying our infrastructure, and the spacecraft carrying human ambition beyond Earth.
Batteries became infrastructure. Then they became muscle. Now, they need a brain.
That brain is ELECTRA AI.
One brain. Multiple verticals. Every battery on Earth — and beyond.
ELECTRA AI is hardware-agnostic and chemistry-agnostic. It does not care who built the cell, what shape the pack takes, or whether it is heading to a grid-scale BESS site, a humanoid robot, an electric truck, or a Mars-bound rover. The platform sits across three verticals that together define the energy future:
Energy Infrastructure — Battery Energy Storage Systems for the grid, renewables, and the data centers powering the AI economy.
Autonomous Systems — robotics, humanoids, drones, and space assets, where uptime is non-negotiable, and the cost of a failed battery is measured in missions, not warranties.
E-Mobility — passenger vehicles, commercial fleets, marine, and aviation, where every kilowatt-hour of usable life translates directly into business model viability.
In every one of these, the same truth holds. The hardware is converging. The chemistries are commoditizing. What separates a battery that lasts ten years from one that fails in three is no longer the cell. It is the intelligence layered on top of it.
That intelligence is what we build. That intelligence is the ELECTRA AI BRAIN.
The proof is already in the field. ELECTRA AI with its AI Brain for Batteries™ monitors every battery it touches, detects faults before they cascade, optimizes how it runs, and controls how it responds — with a level of precision the industry has not seen before. With state estimation within less than 1% error, across chemistries and form factors. That precision is what extends battery life, cuts warranty exposure, lifts residual value, and unlocks entirely new monetization layers — from second-life resale to grid services revenue. In an industry where every percentage point of error compounds into millions of dollars of risk, sub-1% is not a benchmark. It is a different asset category.
A defining moment. In public.
This rebrand arrives at the most consequential inflection in our company’s history. Following the previously announced Business Combination Agreement with Iron Horse Acquisition II Corp. (Nasdaq: IRHO), ELECTRA AI is on track to become the world’s first publicly traded pure-play AI Battery Intelligence company upon Nasdaq listing in the second half of 2026.
We arrive there having spent years building the operating system for the energy transition. We arrive there with customers on three continents who already trust our software to extract every joule, every cycle, every minute of life from the most expensive component in their products. And we arrive there with a name that, finally, says what we actually do.
Quotes
Fabrizio Martini, CEO and Co-Founder, ELECTRA AI:
“When I founded this company, batteries were dumb. Most batteries deployed in the world today are still dumb. That ends now. Renaming Electra Vehicles to ELECTRA AI accurately reflects what we have built: we are the AI brain that makes every battery, in every vertical, on every continent, smarter. Wherever there is a battery, there is the ELECTRA AI BRAIN. That is our promise, and that is the operating system of the energy transition.”
Giovanni Rossi, Head of Marketing and Communications, ELECTRA AI:
“The history of technology is the history of intelligence migrating into objects we once thought of as inert. Engines became smart. Phones became smart. Cities are becoming smart. Now batteries — the most physical, most chemical, most stubbornly mechanical of all our machines — are becoming smart too. ELECTRA AI is the name of that transition. We are entering an era in which the line between energy and intelligence simply disappears. We are proud to give that era a name.”
Welcome to ELECTRA AI.
The era of dumb batteries is over.
Wherever there is a battery — under your hood, in your basement, behind your data center, inside your robot, above your atmosphere — there is the ELECTRA BRAIN.
Visit our new digital home at electrabrain.ai. Existing properties will redirect.
About ELECTRA AI
ELECTRA AI is the leading AI-driven cleantech and B2B software company, accelerating the world’s transition to electrification by unlocking the full potential of battery technology. ELECTRA AI builds the AI Brain for Batteries™ — a unified intelligence layer that enables battery systems to be monitored, optimized, and controlled across their full lifecycle. By combining Agentic AI, Physical AI, Physics-informed Battery Modeling with Large Quantitative Models (LQMs), ELECTRA AI transforms batteries from passive hardware into intelligent, adaptive, and increasingly autonomous assets.
ELECTRA AI powers battery intelligence across every major battery-powered sector, including Energy Infrastructure (BESS for grid, renewables, and data centers), autonomous systems (robotics, humanoid, space assets), and e-mobility, helping make electrification safer, more resilient, and more economically productive. ELECTRA AI was co-founded in 2015 by Fabrizio Martini, inspired by work conducted as a Principal Investigator on NASA projects.
Media Contact
Giovanni Rossi
Head of Marketing and Communications, ELECTRA AI
grossi@electrabrain.ai
Forward-Looking Statements
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iron Horse’s or Electra’s future financial or operating performance. For example, statements regarding the anticipated timing of closing, expectations regarding the combined company’s business, and potential benefits of the transaction are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential,” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Iron Horse and Electra and their respective management teams, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the occurrence of any event, change, or other circumstances that could give rise to the termination of the BCA; (ii) the outcome of any legal proceedings that may be instituted against Iron Horse, Electra, the combined company, or others following the announcement of the transaction; (iii) the inability to complete the transaction due to the failure to obtain approval of the stockholders of Iron Horse or to satisfy other conditions to closing; (iv) changes to the proposed structure of the transaction that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the transaction; (v) the ability to meet Nasdaq’s continued listing standards following the consummation of the transaction; (vi) the risk that the transaction disrupts current plans and operations of Electra as a result of the announcement and consummation of the transaction; (vii) the ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (viii) costs related to the transaction; (ix) changes in applicable laws or regulations; and (x) the possibility that Electra or the combined company may be adversely affected by other economic, business, and/or competitive factors. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Iron Horse nor Electra undertakes any duty to update these forward-looking statements, except as required by law.
No Offer or Solicitation
This press release does not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed transaction, and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Additional Information about the Business Combination and Where to Find It
In connection with the proposed business combination, Iron Horse and Electra intend to file a registration statement on Form S-4 (the “Registration Statement”) with the SEC, which will include a proxy statement/prospectus, and certain other related documents, to be used at the meeting of stockholders to approve the proposed business combination. INVESTORS AND SECURITY HOLDERS OF IRON HORSE ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS, ANY AMENDMENTS THERETO, AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ELECTRA, IRON HORSE, AND THE BUSINESS COMBINATION. The definitive proxy statement will be mailed to shareholders of Iron Horse as of a record date to be established for voting on the proposed business combination and other proposals. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s website at www.sec.gov, or by directing a request to: Loeb & Loeb LLP.>/small>