Heramba Electric plc
PITA
NASDAQ Capital Market0.23
USD
-0.01
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Heramba Electric plc
PITA
(NASDAQ Capital Market)
Recent
price
0.23
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Heramba Electric plc (Nasdaq: PITA) provides systems and components for the electrification of rail vehicles and buses through its primary subsidiary Kiepe Electric GmbH; core offerings include electric traction converters, auxiliary power supplies, power electronics, electric drives, vehicle controls hardware and software, intelligent fleet management software, onboard in-motion charging solutions for trolleybuses and hybrid buses, offboard high-power charging infrastructure up to 800 kW with battery storage systems, SmartHybrid battery drives, air conditioning and heating equipment, modernization and refurbishment services for traction systems, TCMS, APS, and vehicle life extensions, as well as after-sales support encompassing repairs, spare parts, training, testing, and lifecycle management. The company targets public transport operators, fleet owners, transit authorities, and freight rail customers in urban and commercial transportation sectors, with operations centered in Europe including Germany and extending globally through partnerships. Founded in 2023 and headquartered in Düsseldorf, Germany, Heramba Electric resulted from the acquisition of an 85% stake in Kiepe Electric from Knorr-Bremse in February 2024, followed by a reverse merger with Project Energy Reimagined Acquisition Corp completed in July 2024 that enabled its Nasdaq listing under ticker PITA. Recent developments include Kiepe Electric securing a framework order from Vossloh Rolling Stock in September 2024 to equip eleven DE 18 shunting locomotives with SmartHybrid battery drives; however, the company faced significant challenges in 2025, including subsidiary Heramba GmbH filing for insolvency proceedings in Düsseldorf on January 30 amid a EUR 24.9 million dispute with KB GmbH over the Kiepe acquisition, Nasdaq delisting with trading suspension on April 29 for failing bid price, market value, and fee requirements, and ongoing creditor proceedings with a meeting scheduled for June 26, 2025.
Heramba Electric plc Announces Appointment of German Insolvency Administrator
Heramba Electric plc Announces Receipt of Notice from Nasdaq Regarding Delisting
Heramba Electric plc Announces Receipt of Notice from Nasdaq Regarding the Minimum Market Value Requirement
Heramba Electric plc Announces Receipt of Notice from Nasdaq Regarding the Minimum Bid Price Requirement
Heramba Electric's Kiepe Electric Subsidiary Receives Order for SmartHybrid Battery Drive for Center-Cab Locomotive DE 18 from Vossloh Rolling Stock
Heramba Electric Signs $26 Million e-Mobility Contract With Seattle, Washington Area
Heramba Electric Reports 2023 Financial Results