Vydrotech, Inc. (VYDR)

[Jim Conway]

New Newspaper Article

MARBLE FALLS — Ronn Motor Co. is parting company with its financial adviser.

Ronn Motors hired KPN Advisors LLC to take control of its financial affairs several months ago.

The motor company is now redirected and ready for financial growth, according to a prepared statement released by Marketwire.

KPN is still available to assist with marketing, according to the statement.

Ronn Motors plans to design and market environmentally friendly sports cars powered by hydrogen fuel cells, as well as hydrogen systems for diesel and marine motors. Also, the company is traded on the over-the-counter stock exchange under the ticker symbol RNNM.

In Marble Falls, Ronn Motors occupies a 66,000-foot-square building at 1707 Colt Circle.

The company leases the building from the Marble Falls Economic Development Corp.

However, EDC and Ronn Motors are still discussing conditions of a performance agreement.

"It is still pending," EDC Executive Director Christian Fletcher said Nov. 17.

The company originally pledged to bring 100 jobs to Marble Falls more than two years, but has so far created only 16.

EDC officials plan to discuss the matter during future meetings, Fletcher added.

Basically, the performance agreement is an outline of goals and objectives for job growth at Ronn Motors, according to EDC attorney Monte Akers.

Previously, Ronn Motors was located in Cottonwood Shores