- By combining battery storage with a charging station, ADS-TEC
Energy enables the rapid scale-up of charging infrastructure in
inner cities without grid expansion
- Charge point operator JOLT Energy (JOLT) relies on ADS-TEC
Energy's battery-buffered charging solutions
- EUR 150 M funding for JOLT from infrastructure investors to
build ultra-fast charging network in cities - deployment of over
1,000 charging points in the next 18 months announced
- For 2023, JOLT has already ordered a high double-digit number
of systems
ADS-TEC Energy (NASDAQ: ADSE), a leading international
manufacturer of battery storage-based platform solutions, and JOLT
Energy today announced an extension of their long-standing
collaboration to deploy ultra-fast charging stations in major
cities in Europe and the United States. JOLT has already ordered a
high double-digit number of systems for 2023, and more orders are
expected in support of JOLT’s roll-out plan. The collaboration
reflects the strong demand for a fast, convenient charging
experience, especially in inner-city areas.
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the full release here:
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ADS-TEC Energy, a leading international
manufacturer of battery storage-based platform solutions, and JOLT
Energy today announced an extension of their long-standing
collaboration to deploy ultra-fast charging stations in major
cities in Europe and the United States. JOLT has already ordered a
high double-digit number of systems for 2023, and more orders are
expected in support of JOLT’s roll-out plan. The collaboration
reflects the strong demand for a fast, convenient charging
experience, especially in inner-city areas. (Graphic: Business
Wire)
ADS-TEC Energy’s battery-buffered, ultra-fast charging solutions
provide charging power of up to 320 kW in power-limited,
low-voltage energy grids, without the need for grid expansion.
Waiting for grid expansion can take months, and in cities there is
typically no space for electrical substations. Charging stations
from ADS-TEC Energy, on the other hand, can be quickly integrated
into existing sites with a minimum footprint. In addition to
supporting the grid, the ADS-TEC Energy stations store excess
renewable energy so it is available for charging and other
purposes. As a result, the charging stations turn into energy
platforms that enable sustainable site energy management for
operators and fast charging for electric vehicle drivers.
In Germany, JOLT has been deploying ADS-TEC Energy ChargeBox
ultra-fast charging systems for over a year. Primarily installed in
metropolitan areas, the systems see frequent use by electric
vehicle drivers. At a high-use JOLT charging point, a weekly
average utilization of over 60% is typical, and is trending upward.
The company is now significantly accelerating the roll-out rate of
fast-charging stations to meet the high demand. “The entry of an
infrastructure investor into JOLT demonstrates that exponentially
growing fast-charging networks are recognized as a critical enabler
for the widespread electrification of urban transportation," said
Maurice Neligan, CEO of JOLT Energy.
Thomas Speidel, CEO, ADS-TEC Energy, said, “We are excited to
further deepen our strategic collaboration with JOLT to pursue our
common objective: Ultrafast charging at almost any location.
Especially in inner-city areas, there is usually a lack of the
required grid capacity and there is little available space. This is
precisely what our charging solutions are ideally suited for, as
they enable ultra-fast charging despite power-limited grid
connections, take up little space and are easy to install. With
their large battery storage capacity and multifunctionality, they
are a valuable platform for the energy transition.”
About ADS-TEC Energy
ADS-TEC Energy plc, a public limited company incorporated in
Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as
a holding company for ads-tec Energy GmbH, our operating company
incorporated in Germany (“ADSE GM”) and ads-tec Energy Inc., a US
subsidiary of ads-tec Energy GmbH (“ADSE US” and together with
ADS-TEC Energy and ADSE GM, “ADSE”). Based on more than ten years
of experience with lithium-ion technologies, ADS-TEC Energy
develops and manufactures battery storage solutions and fast
charging systems including their energy management systems. Its
battery-based, fast charging technology enables electric vehicles
to ultrafast charge even on low powered grids and features a very
compact design. It was most recently nominated by the President of
the Federal Republic of Germany for the German Future Prize and
elevated to the "Circle of Excellence" in 2022. The high quality
and functionality of the battery systems are due to a particularly
high depth of development and in-house production. With its
advanced system platforms, ADS-TEC Energy is a valuable partner for
automotive, OEMs, utility companies and charge-operators.
More information: ADS-TEC-energy.com
About JOLT Energy
JOLT Energy, a Munich-based Charge Point Operator (CPO)
established in 2018, offers ultra-fast charging to drivers in
Europe and North America's cities. JOLT's charging infrastructure
can charge vehicles up to 200 km in just 10 minutes, thanks to its
up to 320 kW output capacity. The company's core expertise lies in
developing, financing, and operating charging infrastructure at the
energy production and distribution interface. JOLT partners with
various businesses like gas stations or supermarkets to bring
ultra-fast charging downtown. Its charging stations feature
integrated battery storage, enabling them to connect to the
standard low voltage grid without the need for extensive grid
extensions. JOLT's charging network serves as an intelligent energy
storage system that can balance the supply and demand of
electricity from renewable sources in real-time, stabilizing the
grid and create additional revenue streams. The company´s approach
not only meets the demand for ultra-fast charging by its customers
and partners but also supports the global energy and mobility
transition towards a sustainable all-electric transportation
system.
More information: www.jolt.energy
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,”
“predicts,” “potential,” “continue,” and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements include statements regarding our
expectations with respect to future performance and the anticipated
timing of certain commercial activities. There are a significant
number of factors that could cause actual results to differ
materially from the statements made in this press release,
including: the impact of the COVID-19 pandemic, geopolitical events
including the Russian invasion of Ukraine, macroeconomic trends
including changes in inflation or interest rates, or other events
beyond our control on the overall economy, our business and those
of our customers and suppliers, including due to supply chain
disruptions and expense increases; our limited operating history as
a public company; our dependence on widespread acceptance and
adoption of EVs and increased installation of charging stations;
our current dependence on sales to a limited number of customers
for most of our revenues; overall demand for EV charging and the
potential for reduced demand for EVs if governmental rebates, tax
credits and other financial incentives are reduced, modified or
eliminated or governmental mandates to increase the use of EVs or
decrease the use of vehicles powered by fossil fuels, either
directly or indirectly through mandated limits on carbon emissions,
are reduced, modified or eliminated; supply chain interruptions and
expense increases; unexpected delays in new product introductions;
our ability to expand our operations and market share in Europe and
the U.S.; the effects of competition; changes to battery energy
storage standards; and the risk that our technology could have
undetected defects or errors. Additional risks and uncertainties
that could affect our financial results are included under “Item 3.
Key Information – 3.D. Risk Factors” in our annual report on Form
20-F filed with the Securities and Exchange Commission (the “SEC”)
on May 11, 2023, which is available on our website at
https://www.ads-tec-energy.com/en/company/invest and on the SEC’s
website at www.sec.gov. Additional information will also be set
forth in other filings that we make with the SEC from time to time.
All forward-looking statements in this press release are based on
information available to us as of the date hereof, and we do not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made, except as required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230517005162/en/
Media Contacts:
ADS-TEC Energy Europe: Dennis
Müller SVP Product Marketing & Communication
press@ads-tec-energy.com
ADS-TEC Energy United States:
Stephannie Depa Breakaway Communications sdepa@breakawaycom.com +1
530-864-0136
JOLT Energy: Martin Betzold
Head of Brand, Marketing & Communications
martin.betzold@jolt.energy +49 (0) 174-339-7244
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