Giga Carbon Neutrality (GCN) Signs Memorandum of Understanding to Acquire a Controlling Stake in Admiral Corporation of America Inc.

Upon completion of the acquisition, GCN will integrate its new energy mobility solutions – both battery and hydrogen powered logistics vehicles, specialist vehicles and buses

Giga Carbon Neutrality Inc (“GCN”), the intelligent commercial mobility and clean energy technology company, has signed a Memorandum of Understanding to acquire a majority stake in Admiral Corporation of America Inc (“Admiral”) and subsidiary companies. Admiral, first established as Transformer Corporation of America in 1924, then re-established and re-branded in 1934 by founder Ross Siragusa, in its nearly 100-year history has been a global leader in home appliances and electronics. As it joins the GCN group of companies, Admiral is diversifying into the fast-growing sustainability business providing solutions in e-mobility, charging and energy storage.

Upon completion of the acquisition, GCN will integrate its new energy mobility solutions – both battery and hydrogen powered logistics vehicles, specialist vehicles and buses – and mobile and stationary energy storage capabilities with Admiral subsidiary Admiral America Energy Inc (“AAE”).

Richard Martin, CEO at Giga Carbon Neutrality, commented:
This agreement brings the historic and well-loved Admiral brand into the GCN family. We are excited to avail ourselves of the opportunity of associating the trusted Admiral name with GCN’s worldwide mission of reducing carbon emissions through its full range of new energy vehicles.

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