- ADS-TEC Energy is announcing an order entry of more than EUR
100 million with new and existing partners
- PowerGo has placed an order for its first 20 ChargeBox systems
– predominantly for public charging stations, but also for fleet
operators from the transport and logistics sectors
- PowerGo plans to place further orders for fast charging systems
from ADS-TEC Energy, with order volumes in the tens of
millions
ADS-TEC Energy (NASDAQ: ADSE), a global leader in
battery-buffered, ultra-fast charging technology, announced that it
has already successfully secured over 100 million euros in new
orders for fast-charging systems. These orders will be promptly
fulfilled in 2023 and 2024. The agreements primarily encompass
additional orders from existing successful partners of ADS-TEC
Energy, but also significant new customer business.
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the full release here:
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ADS-TEC Energy reports triple-digit
increase in orders (Photo: Business Wire)
One example is a new strategic partnership with Dutch
full-service charging point operator PowerGo which initially plans
to install 20 ChargeBox systems across Spain and the Netherlands.
It also plans to implement a significantly larger number of
additional ultra-fast charging systems in other European countries,
including Germany and Denmark. More details in PowerGo’s press
release on October 19, 2023.
“My team and I are thrilled to see such a huge increase in
orders for our strong, storage-based platforms. We see this
customer confidence as an endorsement of our strategic direction
for the company. The basis for this is a clear vision, leading
customers and partners, as well as a strong team that is determined
to succeed. We have exactly that, as well as stable investors with
a long-term commitment,” says Thomas Speidel, CEO of ADS-TEC
Energy.
PowerGo plans to install ChargeBox systems in the Netherlands
and Spain
PowerGo is a subsidiary of PowerField, which has established
itself as a sustainable energy provider with the generation and
storage of energy from solar parks in the Netherlands. PowerGo
attaches particular importance to sustainability and aims to roll
out and operate environmentally friendly charging solutions with
the best service across the globe. The company has set itself the
goal of becoming one of the largest charging station operators in
Europe.
The first step in the collaboration with ADS-TEC Energy is the
rapid installation of the first order of ChargeBox fast-charging
systems in Spain and the Netherlands. They will be installed
primarily in public spaces, for example in downtown areas, and will
also be used by fleet operators in the transport and logistics
sectors. All types of vehicles can be charged at each of the
ChargeBox’s two high-performance charging columns, from cars and
vans to trucks and buses. ADS-TEC Energy’s powerful and flexible
charging solutions will benefit last-mile logistics in particular,
largely because low power connections of less than 110 kVA at a
charging location are sufficient to enable ultra-fast charging of
up to 320 kW. This allows charging to a range of 100 km in just a
few minutes almost anywhere, even with multi-shift operation of
delivery vehicles.
The perfect solution to customer requirements
The Netherlands is one of the most advanced markets for electric
vehicles in Europe and the existing power grid has already reached
its maximum capacity in many areas. This means reliable battery
storage-based solutions such as ChargeBox are in high demand as
they can provide up to 320 kW of charging power when connected to
the existing power-limited grid, without the need for costly grid
expansion.
Great potential for strengthening the PowerGo
partnership
Jean-Louis Bertholet, CEO of PowerGo, says of the partnership:
“ADS-TEC Energy’s ultra-fast charging systems deliver impressive
flexibility and speed in terms of their design, quality, and
performance. This is exactly the kind of system we need to meet the
ambitious demands of the market and the strong growth in e-mobility
in countries with power-limited grids. This is why we are
particularly pleased to be partnering with ADS-TEC Energy and look
forward to a rapidly expanding, future-oriented collaboration.”
Thomas Speidel, CEO of ADS-TEC Energy, agrees: “A strategic
partnership with an international company like PowerGo once again
confirms how electric infrastructure can scale beyond known
limitations. It demonstrates the urgent need to offer reliable,
storage-based fast charging systems like ChargeBox and ChargePost.
This is the only way the energy and mobility transition can be
successful.”
Both partners see great potential for expanding the partnership
in other European countries, such as Germany and Denmark.
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: https://www.ads-tec-energy.com/
About PowerGo
PowerGo is a subsidiary of PowerField, a Dutch company working
toward a sustainable future through solar energy.
PowerGo facilitates electromobility through fast and sustainable
charging. The fast-charging stations are powered by certified
sustainable solar energy. In this way, PowerGo is not only making
an important contribution to the European energy transition, but
also to the development of a European fast charging network.
PowerGo’s goal is to become one of the leading charge point
operators (CPOs) in Europe.
www.powergo.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
financial outlook for 2023, 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 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231031290290/en/
Media: For ADS-TEC Energy
Europe: Dennis Müller SVP Product Marketing &
Communication press@ads-tec-energy.com
For ADS-TEC Energy United States:
Stephannie Depa Breakaway Communications sdepa@breakawaycom.com +1
530-864-0136
For PowerGo: Selina Groenveld Team
Lead Marketing and Communications press@powergo.energy
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