- ADS-TEC Energy’s ChargeBox Dispensers can now be used as part of an ultra-fast, battery-buffered EV charging solution for indoor areas, such as parking garages, showrooms or halls
- The ChargeBox Booster outdoor battery system can now be completely installed at ground level, saving time and installation costs
- No need for costly expansion of the existing grid infrastructure
NÜRTINGEN, Germany–(BUSINESS WIRE)–ADS-TEC Energy (NASDAQ: ADSE) today announced two new installation options for its ultra-fast, battery-buffered ChargeBox system, increasing its flexibility for charge-point operators, who can now more easily install the electric vehicle (EV) charging system either indoors or outdoors.
As part of this update, the ChargeBox Dispenser can now be installed indoors. In addition, the associated ChargeBox Booster outdoor battery—which was previously installed partly underground—can now be completely installed at ground level. This minimizes the installation effort significantly, as digging or boring are not required, saving time and reducing costs. The ChargeBox Booster can be installed up to 200 meters (656 feet) from the grid connection point and up to 100 meters (328 feet) from the ChargeBox Dispensers, and the install requires only about 1.5 square meters (16 square feet) of floor or ground space. The system continuously charges up from even low-power electrical grids, storing and boosting the charging power up to 320 kilowatts for ultra-fast charging of vehicles within minutes.
Indoor capability for more applications
The ChargeBox Dispenser for indoor installation is a leading solution for use in locations with limited power supply. Customers and operators of ultra-fast charging stations can thus open completely new areas of use and expand their business models: The dispenser can be installed in parking lots and underground garages, as well as in showrooms and halls. Particularly in urban areas, many customers rely on underground garages and have limited outdoor space. Car dealerships can also benefit and respond even more flexibly to the growing demand for EVs and test drives. “We have had a number of inquiries from large customers expressing the need for ultra-fast charging of e-vehicles inside buildings in order to run their electric vehicle business even more effectively. We are pleased to be able to serve this need,” said John Neville, chief sales officer, ADS-TEC Energy.
Thomas Lächner, head of department sales representative EU, said: “This is a tremendous added value that further increases the attractiveness of our ultra-fast chargers and fills an important gap in the expansion of charging infrastructure in the available distribution grids. Our ultra-fast charging systems, which are not dependent on large grid connections like conventional systems, far outperform in many use cases – and total cost of ownership.”
The ultra-fast, battery-buffered ADS-TEC Energy ChargeBox system often has proven to be more sensible and lucrative than conventional charging systems not only in existing buildings—where a grid extension for ultra-fast charging is usually too expensive, too time consuming or impossible to implement—but also in new parking garages and showrooms. Calculations at customers’ sites have shown that, in the long term, considerable savings potential can be achieved compared to a charging solution with corresponding new expansion of the existing grid infrastructure.
The new installation options are available now in Germany and are planned for other European countries and the US.
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. 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 on: www.adstec-energy.com
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 2022, 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 April 28, 2022, which is available on our website at https://adstec-energy.com/investor-relations-corporate-governance/ 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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