Motomova Inc. Subsidiary MEA Testing Systems Announces a New Agreement with ELGi Equipments Limited

The partnership foresees MEA providing testing equipment and solutions

to global giant ELGi for its air compressor systems

New York, NY & Coimbatore, India — June 28, 2023— MEA Testing Systems Ltd. (“MEA”), a leading developer, manufacturer, and supplier of testing solutions for electric motors, a subsidiary of the Delaware-based Motomova Inc., announced a new agreement with ELGi, a global leader in manufacturing of air compressors with two million installations across 120 countries. Headquartered in Coimbatore, India, ELGi boasts substantial presence in North America and Europe in addition to India, Australia, Middle East and South Asia.

With the new agreement between the two Companies, ELGi will be using MEA’s testing solutions to test and validate its electric motors of air compressors, used in a variety of industry applications.

“We are very pleased about our new partnership with ELGi, a world-leading company well-known to everyone in the industry. We trust that our agile, disruptive testing solutions will provide ELGi with the rigorous and targeted testing requirements they have,” said Menachem Shalom, CEO at MEA. “We believe that through this agreement we will be strengthening both companies' competitive advantages, reputation, and total customer offering.”

“We are truly looking forward to deploying MEA testing systems and solutions at our R&D facility,” said Salim Ramachandran, Vice President, Special Projects. “We trust in the quality and performance of their solutions and processes. This partnership will allow us to further cement our position at the forefront of the industry.”

MEA provides a wide array of classic dynamometer solutions, portable dynamometers, and patented software-only dynamometers, as well as an extensive array of testing solutions, instruments and simulations tailored to each customer in order to their unique, rigorous testing requirements. As the climate crisis reaches the “code red” level, MEA is enabling companies to switch to and leverage electric motors, helping put an end to the gasoline and oil motors era. ESG is a core element in MEA’s business, value chain, and future success.

The Company’s solutions are used extensively in the automotive industry, manufacturing and industrial applications, home appliance, robotics, official standards institutes, research and development labs, quality assurance (QA) labs, production end-of-line testing and predictive maintenance, among others – bringing ESG goals and practices into each industry and use case.

MEA’s prestigious client roster includes Mitsubishi Electric, Rolls-Royce, Siemens, Kawasaki, Thyssenkrupp, GE and Tata Motors, among many other world-renowned names.

About MEA Testing Systems

Founded in 1998, MEA is a leader in the development of testing solutions, instruments, and simulations for electric vehicles (EV) and automotive, aerospace, railways, micro, servo, gear and energy. MEA’s offerings combine science, engineering, and industry experience, in order to meet the needs of over a thousand customers across the world.

MEA’s patented solutions integrate unique dynamic and static capabilities with traditional dynamometer methods, creating a custom approach to meeting the needs of each customer. Its comprehensive range of services includes project consulting, specialist deployment, system integration, in-house testing, custom solutions, and contracted measurements. For more information, please visit the MEA website.

About ELGi

Elgi Equipments Limited is a global air compressor manufacturer with a broad line of innovative and technologically superior compressed air systems. ELGi has consistently worked towards ensuring that its customers achieve their productivity goals while keeping the cost of ownership low. ELGi offers a complete range of compressed air solutions from oil lubricated and oil free rotary screw compressors, oil lubricated and oil free reciprocating compressors and centrifugal compressors, to dryers, filters and downstream accessories. The company’s portfolio of over 400 products has found wide application across industries. For further information on the organization and its products, please visit http://www.elgi.com

Forward-Looking Statements

The foregoing material contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements, including the consummation of the share exchange with MEA, are based on information currently available and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Company Contact

Motomova Inc

New York, New York

646.257.4214

m@motomova.com

ELGi Company Contact

Anya Geraldine D’Souza

Vice President, Global Marketing

anya@elgi.com

www.elgi.com