Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 48

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 48
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 broader operating temperature range. Infintium’s HFC systems, manufactured and assembled in its South Carolina headquarters and factory facility, are designed to comply with relevant safety and performance standards. The company closely monitors the evolving regulatory landscape to ensure that its operations and offerings are aligned with industry requirements. Infintium has achieved a cumulative runtime of more than 1.5million hours in customer sites that typically demand fast turnaround times and high throughput across multiple shifts per day. Infintium’s current products for sale consist of fuel cell power systems for industrial vehicles. Infintium’s product lines under development include HFCs for trucks and buses and HFC fuel backup systems. For a more complete description of Infintium’s products, see “Information About Infintium — Products and Services” below. Competition Infintium considers the following to be its competitors: (i) Producers of battery modules which power electric lift trucks with lead -acidor lithium -ionbatteries. Leading companies that supply lithium -ionbatteries for the heavy transportation industry include LG Chem, Panasonic, Tesla, CATL, and Samsung SDI. Companies that supply lead -acidbatteries include Crown Battery, Johnson Controls, East Penn Manufacturing, Trojan Battery, Exide Technologies and EnerSys, etc. Infintium believes that with the faster refueling, less space demand and more environmental -friendlycharacteristics, coupled with strong government incentives and subsidies that help lower ownership costs, HFCs will continue to gain market share against lead -acidor lithium -ionbatteries. (2) Other HFC manufacturers. Infintium expects competition to intensify as the HFC market expands. Leading companies that provide HFCs for lift trucks include Plug Power, Ballard Power Systems, Doosan Fuel Cell, Toyota Motor Company, and Nuvera Fuel Cells, etc. In the U.S., where HFC penetration and growth are among the highest across the world, the market is currently led by Plug Power in terms of total units installed. Infintium aims to compete against its competitors with its innovative technology, proven track record, robust partnerships, and strong customer support, which it believes enable it to effectively address the rapidly expanding HFC market and growing concerns of large industrial and retail distribution customers about relying on a single fuel cell supplier such as Plug Power and win more businesses. 2 Infintium further believes that in addition to its product benefits, features such as advanced remote monitoring and diagnostics capabilities that allow its customers to track system performance in near real