ElectraMeccanica Vehicles Corp (NASDAQ:SOLO) ended its 4Q 2020 with a healthy $129.5 million in the bank to power its SOLO US rollout in 2021, according to its financial results released after the bell on Tuesday. The electric vehicle manufacturer expanded its SOLO retail footprint to six new locations during the quarter, eventually adding more to hit 10 additional high-end shopping centers by March 2021. “2020 was a transformative year for ElectraMeccanica, one that began with the launch of our first retail locations and ended with the arrival of the first production SOLO EVs onto US soil,” CEO Paul Rivera said in a statement accompanying the results.
Marrone Bio Innovations Inc (NASDAQ:MBII) reported a 31% year-over-year surge in its Fiscal 2020 revenue to $38.4 million, driven largely by the company’s expanded product line and international footprint. Marrone also said its net loss and Adjusted EBITDA for the year improved by 46% and 31%, respectively, achieving gross margins of 59.6% as a result of an improved product mix.
Predictmedix Inc (CSE:PMED) (OTCQB:PMEDF) revealed Tuesday that it has entered into a letter of intent (LOI) to acquire Symp2Pass Inc, an AI-powered IoT product suite of technologies, in a $5 million cash and stock deal. Symp2Pass, developed by SmartCone Technologies Inc, is one of the first end-to-end advanced touchless health and wellness testing solutions that provides coronavirus (COVID-19) symptom screening from multiple independent sensors with geolocation mapping, the company noted. Symp2Pass’s thermal scanning capabilities allow scans to be completed with an accuracy of ± 0.54° Farenheit and can scan up to 30 people at a distance of more than nine feet, it added. With Predictmedix’s infectious disease screening algorithms, the company said it will be able to develop non-invasive screening at scale.