PETAH TIKVA, Israel, Nov. 15, 2021 /PRNewswire/ -- GenCell Energy, (TASE:GNCL), a leading Israel-based manufacturer of fuel cell energy solutions, today announces that it has signed an agreement with E.V. Motors Ltd., an Israeli importer of electric vehicles, chargers and energy storage systems for electric vehicles and the exclusive Israeli representative of several companies, among them Sun Surplus Energy and Co. Ltd., a leading developer of energy storage and advanced EV charging systems. The two companies have agreed to cooperate on the development of a joint project integrating GenCell's alkaline fuel cells together with E.V. Motors' electric vehicle charging technologies to enable autonomous off-grid hybrid electric vehicle charging stations that eliminate the need for fossil fuel backup generators. The project will provide demonstration sites that are expected to attract interest from e-mobility companies worldwide.
This collaboration will contribute to the worldwide delivery of the charging infrastructure required to meet the global EV charging market demand, which is expected to exceed US$207bn by 2030. * GenCell and EV Motors will create a new off-grid hybrid charging solution that will provide reliable local power supplies with zero emissions. The joint system is expected to be ready for initial deployment in Israel by the first half of 2022. Following the success of the initial project in Israel, the two companies will consider expanding the cooperation to similar projects in China and other territories via EV's existing partner network including Sun Surplus Energy and Co Ltd.
"E.V. Motors and its subsidiaries have been constantly researching and developing a solution to the challenges of the transition from fossil fueled vehicles to electrically driven ones. We are very glad to have connected with GenCell to provide sustainable and environmental fuel cells for our charging stations, thus offering the market a reliable, clean and effective solution," remarks Ohad Seligmann, Chairman, E.V. Motors. "Our engineers have been working closely with the GenCell team to integrate its technologies into our off-grid charging stations solution, and we are confident that the cooperation between the two companies is bringing a unique and state-of-the-art complete solution for autonomous, off-grid, hybrid EV charging that will disrupt the EV charging landscape, first in Israel and later around the globe. We trust that this cooperation will introduce an effective EV charging business model that will serve drivers and consumers, provide an innovative solution to a wide spectrum of clients, lay solid grounds for the continued expansion of the EV revolution and bring revenues to both companies."
Comments Rami Reshef, "GenCell is extremely excited about this agreement with E.V. Motors and the opportunity to demonstrate the significant value that alkaline fuel cells can contribute to maintaining zero-emission continuous power at autonomous off-grid hybrid EV charging stations. As the number of electric vehicles increases, the demand for a wide network of distributed EV charging stations will grow exponentially. On the one hand, forecasts indicate that grid power will not be sufficient to power the estimated quantity of EVs that will reach the roads, and on the other, many destinations to which EVs will need to travel will be beyond the power grid. In both of these scenarios, autonomous off-grid EV charging stations powered by hydrogen and ammonia will be a key solution."
Reshef continues, "As a fuel cell pioneer based in Israel, GenCell is proud to be able to resolve this important challenge for the Israeli market and will be even more excited to demonstrate the proven use case to e-mobility providers around the globe. As the world's eyes are focused on COP26 and climate issues, GenCell is proud to bring innovative clean energy technologies that can play an important role in accelerating the transition to renewable energy in Israel and around the world."
*Source: Guidehouse Insights, 13/10/2021 - https://guidehouseinsights.com/news-and-views/electric-vehicle-charging-infrastructure-market-is-expected-to-exceed-$207-billion-by-2030
About E.V. Motors
EV Motors is a direct importer specializing solely on public transportation and private electric vehicles. The company is owned by Mr. Eliyahu Gridish, Mr. Ohad Seligmann, Chairman of the Group, and Mr Edward Doron partner and owner. EV Motors imports electric vehicles of the highest quality to international standards from leading global manufacturers. Some of the brands we market are JAC, ANKAI and LEVC. The company imports charging systems from SSE and provides a full package to the customer including charging stations and full charging solutions, inertia solutions and off-grid energy storage. EV Motors aims to operate the next generation charging model in Israel.
About GenCell Energy
GenCell Energy (TASE: GNCL) develops total green power solutions based on reliable, zero-emission alkaline fuel cells and green ammonia-to-energy technology which deliver uninterrupted power to help the world #SayNoToDiesel and transition to clean energy. The ability to produce not only clean power from GenCell's fuel cells, but also the green fuel on which the fuel cells run, sets GenCell in a far superior position as a well-to-wheel total green energy solution provider. GenCell delivers resilient, robust and weather-resistant backup power for utilities, telecom and other mission-critical applications which have been deployed in 22 countries. Our hydrogen-on-demand solution provides primary power for off-grid and poor-grid sites, as well as for rural electrification. GenCell Energy numbers more than 110 employees, including veterans of space and submarine projects. The Company is headquartered in Israel with a worldwide distribution and support network and retains unique intellectual property that includes patents, trade secrets and know-how.
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SOURCE GenCell Energy and E.V. Motors
