TIER Mobility welcomes German Bundesrat calling for mandatory use of swappable scooter batteries and launches new system

DGAP-Media / 12.11.2019 / 09:55 TIER Mobility welcomes German Bundesrat calling for mandatory use of replaceable scooter batteries and launches new system - TIER Mobility launches scooters with swappable batteries in Hamburg and Frankfurt, Berlin and Hanover to follow soon - Germany-wide exchange of fleet before the end of this year - New scooter model offers more functions for the winter season such as a larger front wheel and rear wheel drive Berlin, 12 November 2019 - TIER Mobility, the leading European provider of micro-mobility solutions, has agreed to the German Bundesrat's demand last Friday to make swappable batteries mandatory for sustainability reasons. TIER is starting to introduce this technology in Germany with immediate effect. This makes TIER the first scooter sharing provider to completely convert its fleet to models with swappable batteries. This week, app. 1200 Scooter with swappable batteries will be set up in Hamburg and Frankfurt, Berlin and Hanover are to follow. In the coming weeks, the entire German TIER fleet will be converted to the new model. With the introduction of swappable batteries, daily back-and-forth trips necessary to recharge the scooters will become obsolete, as new scooters can be reached with cargo bikes to replace empty batteries on site. The use of vans is thus reduced to a minimum. For the upcoming winter season, the scooters have been additionally equipped with a larger front-wheel and rear wheel drive to improve slip resistance and further reduce braking distance. The existing scooter fleet, which has now been on German streets for around four months, will be refurbished and sold to German consumers via online sale at www.myTIER.app. Lawrence Leuschner, CEO and co-founder of TIER Mobility: "The German Bundesrat has put an important issue on the political agenda. Only with swappable batteries scooter providers can guarantee sustainable logistics. Now this technology is finally available and immediate action is required. By the end of this year, we want to convert TIER's entire fleet to this technology and then establish logistics with cargo bikes as soon as possible." About TIER Mobility TIER Mobility is Europe's leading company for shared micro-mobility services with a mission to change mobility for good. The company plays the leading force in the ongoing transformation of transportation, relieving cities from emissions and congestion, and putting responsible usage and safety at the centre of its business. TIER Mobility has joined forces with other zero-emission means of transport in order to reduce the use of cars, helping cities to shift their focus to alternative e-vehicles. The company started its operations in October 2018 and is now operating in 40+ cities across 12 markets worldwide. TIER Mobility is headquartered in Berlin and employs over 350 people. The company was founded by Lawrence Leuschner, Matthias Laug and Julian Blessin. The company's existing investors are Mubadala Capital, Goodwater Capital, AXA Germany, Evli Growth Partners, Point Nine, Speedinvest, White Star Capital, Northzone, Kibo, Indico, and Market One Capital. In addition, there are selected business angels and individual investors like Formula 1 World Champion Nico Rosberg. For more information about TIER Mobility, please visit: www.tier.app About the Management Team The management team is composed of some of the most experienced and execution-driven entrepreneurs in Europe: Lawrence Leuschner (CEO & co-founder), Matthias Laug (CTO & Co-founder) and Alex Gayer (CFO). Lawrence Leuschner was previously CEO and co-founder of reBuy, Europe's leading online used electronics and media retailer, a company dedicated to extending the life cycle of over 100 million products. He is a founding member of the "Leaders for climate action" initiative, which advocates stricter climate protection and commits itself to concrete measures in their companies. Matthias Laug brings tech and logistics experience to the team, having been co-founder and CTO at the food delivery startup Lieferando and later CTO at Takeaway.com, supporting one of Europe's most successful tech IPOs in recent years. Alex Gayer has previously worked at some of the fastest growing tech companies in Europe, most recently as CFO of Receipt Bank and prior to that SwiftKey, overseeing its sale to Microsoft. He brings a track record in financing and scaling companies. Press contact Bodo v. Braunmühl Director of Communications press@tier.app End of Media Release Issuer: Tier Mobility GmbH Key word(s): Enterprise 12.11.2019 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 910113  12.11.2019 

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