Damon Motors Approaches $100M in Orders and Expands Global Reach to Indonesia with Indika Energy

Damon Motors, the premier EV motorbike company, today announced it has formed a partnership with PT Indika Energy Tbk., Indonesia's leading diversified energy company. Indika has also made an undisclosed investment in Damon and will serve as the distributor for Damon's line of motorcycles in the Indonesian market.

"My journey with Damon started in Indonesia, so this partnership with Indika Energy brings me full circle, opening the door to one day transforming the industry at a global level," said Damon Co-Founder and CEO Jay Giraud. "Indonesia has set a goal to reach net-zero emissions by 2060. Damon is equally committed with Indika Energy to achieve this goal together."

The inspiration to build Damon came to Giraud during a trip to Jakarta, Indonesia in 2016, a country that holds the largest two-wheeled vehicle penetration in the world. Giraud believed he could rival existing gas-driven motorcycle options that ultimately offer no safety features. In 2017, Damon was born as Giraud teamed up with Co-Founder Dom Kwong to transform two-wheel transportation, with an aim to reduce motorcycle accidents on the road by the millions.

With Indika, Damon is developing a new global motorcycle platform specifically for the needs of commuters in geographies dominated by 2-wheel mobility. The new motorcycle platform shares key technology with Damon's other vehicles, making them cleaner, safer and more efficient than all options.

According to Azis Armand, vice president director and group CEO of Indika Energy, "Indonesia has a great opportunity to transform the riding experience for millions of people dependent on two wheels. Our vision for an electrified roadway mirrors Damon's. Through our subsidiary, PT Ilectra Motor Group (IMG), we are committed to developing EV motorcycles and its supporting ecosystem in Indonesia. We believe this partnership will open more opportunities for collaboration to accelerate our go-to-market strategy and meet the country's net-zero goal. This also aligns with Indika Energy's commitment to achieve net zero by 2050."

Damon's partnership with Indika Energy comes as the company nears a $100M milestone in orders for its renowned motorcycles. Damon unveiled the HyperSport at CES 2020 and the HyperFighter at CES 2022. Both models offer unparalleled safety, comfort, 5G connectivity, and performance with groundbreaking technology and zero tailpipe emissions. Proprietary features include its CoPilottm 360º advanced warning system, complete with a 7" LCD display that streams a rearview from the rear-facing camera; Shifttm, which transforms the riding position between sport and commuter modes while in motion; and HyperDrivetm, the world's first monocoque constructed, 100 percent electric, multi-variant powertrain platform, which enables Damon to share a common platform with sibling models.

Damon's state-of-the art innovations have received numerous awards including the CES 2020 and 2022 Innovation Award, the Edison Best New Product Award, the Big Sustainability Award, Fast Company's World Changing Idea, the GOOD DESIGN® Award, a Digital Trends Top Tech, a Red Herring Top 100, a North America finalist award for CleanTech, Popular Science's Best of What's New Award, and a Robb Report "Best of the Best" award for motorcycle innovation.

For more information on Damon Motors, visit www.damon.com and follow them on Instagram @damonmotorcycles and on Twitter @damonmotorcycle.

About Damon Motors
Damon Motors is a global technology leader disrupting urban mobility. With offices in San Rafael, California and headquarters and manufacturing in Vancouver, Canada, Damon is on a mission to cause a paradigm shift for safer, smarter motorcycling. The company is delivering on its promise with award-winning innovation and unprecedented technologies. Anchored by its proprietary electric powertrain, HyperDrivetm, Damon has captivated the motorcycling world by delivering earth-scorching speed, ferocious design, and epic new features, including CoPilottm and Shifttm, that are attracting an entirely new generation of riders. With rapid market adoption from eager buyers in the US and abroad, Damon is setting a new standard for motorcycle safety and sustainability worldwide. For more information on how Damon technology is defining the new industry standard, please visit damon.com.

About Indika Energy
Energy PT Indika Energy Tbk. (Indika Energy) is Indonesia's leading diversified investment company with key focus on developing new sustainable businesses through its strategic investments in the areas of Energy - coal production (PT Kideco Jaya Agung, PT Multi Tambangjaya Utama), coal trading (Indika Capital Investment Pte. Ltd.), EPC oil & gas (PT Tripatra Multi Energi, PT Tripatra Engineers & Constructors, PT Tripatra Engineering); Logistics and Infrastructure - ports & logistics (PT Sea Bridge Shipping, PT Cotrans Asia, PT Indika Logistic & Support Services, PT Kuala Pelabuhan Indonesia), fuel storage (PT Kariangau Gapura Terminal Energi), coal-fired power plant (PT Cirebon Electric Power and PT Prasarana Energi Cirebon); Minerals - gold production (Nusantara Resources Limited), nickel trading (PT Rockgeo Energi Nusantara); Green Businesses - nature-based solution (PT Indika Multi Properti), renewable energy (PT Empat Mitra Indika Tenaga Surya), electric vehicle (PT Ilectra Motor Group, PT Mitra Motor Group); Digital Ventures - IT enterprise (PT Xapiens Teknologi Indonesia): Others - healthcare (PT Indika Medika Nusantara). Please visit www.indikaenergy.co.id