Trading of eLong Power Holding Limited shares is set to commence on the Nasdaq Stock Market under the ticker symbol “ELPW” on November 22, 2024.

Ganzhou, China, Nov. 21, 2024 — eLong Power Holding Limited (“eLong Power” or the “Company”) (Nasdaq: ELPW), a supplier of high-power battery technologies for commercial and specialized alternative energy vehicles and energy storage systems, today announced the successful completion of its merger with TMT Acquisition Corp (“TMTC”) (Nasdaq: TMTCU, TMTC, and TMTCR), a publicly traded special purpose acquisition company. The combined company will begin trading on the Nasdaq Stock Market under the symbol “ELPW” on November 22, 2024.

This merger is anticipated to grant eLong Power access to U.S. public equity markets, thereby accelerating its growth and creating opportunities for further expansion and value creation.

Ms. Xiaodan Liu, eLong Power’s Chairwoman and CEO, stated: “We are delighted to finalize our merger with TMTC, marking a significant achievement for eLong Power. This strategic move is expected to fuel our growth and enable us to meet the increasing demand for innovative solutions in the EV and energy storage sectors. Our Nasdaq listing is vital to our growth and expansion strategy, aiming to establish eLong Power as a global leader. We look forward to using this opportunity to drive innovation and growth, ultimately delivering long-term value to our shareholders.”

Advisors

The Crone Law Group, P.C. served as U.S. legal counsel to TMTC, and Ogier Global acted as Cayman Islands legal counsel to TMTC. Graubard Miller acted as U.S. legal counsel to eLong Power, Harneys served as Cayman Islands legal counsel to eLong Power, and Han Kun Law Offices acted as China legal counsel to eLong Power.

About eLong Power

eLong Power Holding Limited, a Cayman Islands exempted company, is dedicated to the research, development, manufacturing, sales, and service of high-power lithium-ion batteries for electric vehicles and construction equipment, as well as large-capacity, long-cycle lithium-ion batteries for energy storage systems. eLong Power is headed by Ms. Xiaodan Liu, Chairwoman and CEO.

eLong Power possesses a comprehensive product and technology system encompassing battery cells, modules, system integration, and battery management system development, based on high-power lithium-ion batteries and battery system products for long-cycle energy storage devices. eLong Power provides advanced energy applications and comprehensive lifecycle services. Its product range includes products using lithium manganese oxide and lithium iron phosphate, among others, to cater to the needs of high-power and energy storage applications across various sectors.

Forward-looking Statements

This press release may include “forward-looking statements” as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to the transaction’s benefits, anticipated timing, eLong Power’s offerings and markets, and projected future results. Such statements are often identified by words like “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. Forward-looking statements are predictions and projections about future events based on current expectations and assumptions, and are therefore subject to risks and uncertainties. Many factors could cause actual results to differ significantly from these forward-looking statements, including: the transaction’s impact on eLong Power’s relationships, performance, and business; risks of disruption to eLong Power’s plans or operations; outcomes of legal proceedings; ability to maintain Nasdaq listing; volatility of eLong Power’s securities; changes in competitive and regulatory landscapes; competitor performance variations; changes in laws and regulations; changes in capital structure; ability to execute business plans, meet forecasts, and identify opportunities; need for additional funding; dependence on third-party suppliers; risks related to research and development, market conditions, and other factors; ability to attract and retain key personnel; risks related to growth strategy; intellectual property risks; and ability to secure and maintain financing and strategic agreements. Consequently, these forward-looking statements do not guarantee future performance, and undue reliance should not be placed upon them. Risks related to eLong Power’s business are detailed in its SEC filings available on the SEC website at , including the Form F-4 registration statement (File No. 333-280512) and subsequent filings. These forward-looking statements are current only as of today’s date, and eLong Power disclaims any obligation to update them, except as legally required.

eLong Power Investor Contact:
Shilin Xun
Email: 

TMTC Contact:
TMT Acquisition Corp
Email: 

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: 

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