Shareholder-Approved Merger with Verde Bioresins, Inc. Progressing Towards Close

MESA, Ariz., April 08, 2025 (GLOBE NEWSWIRE) -- Nxu, Inc., (NASDAQ:NXU) (“Nxu”, “the Company”), a domestic technology company focused on energy storage and charging solutions for the infrastructure we need to power our electrified future, today announced it is progressing towards closing its merger with Verde Bioresins, Inc. (“Verde”). On February 11, 2025, approximately 99% of the votes cast by Nxu’s shareholders approved the issuance of shares of Nxu common stock in connection with and change of control resulting from the contemplated merger, and both Nxu and Verde have been through remaining closing items. Completion of the merger is subject to satisfaction of conditions, including Nasdaq approval.