Heramba Electric, through its operating subsidiary Kiepe Electric, provides electric drive and power systems for rail vehicles and buses. Kiepe Electric is based in Düsseldorf, Germany, and operates through two entities: Kiepe Electric GmbH in Germany and Kiepe Electric LLC in the U.S. The core product offering covers electrification systems for public transit — electric traction systems, power electronics, and related technology that power electric trains and buses. Customers are primarily public transit operators and vehicle manufacturers. Kiepe Electric's business model is project-based, with revenue tied to delivery of systems for specific rail or bus programs, typically structured as large, multi-year contracts. Heramba Electric is incorporated in Ireland and lists on Nasdaq, having gone public through a SPAC combination with PERAC in 2024, while all operations continue to run through the Kiepe Electric subsidiaries.