NÜRTINGEN, Germany, Feb. 16, 2022 /PRNewswire/ -- ADS-TEC Energy (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, today announced that Smart City Capital will be deploying more than 200 ADS-TEC Energy ultra-high-speed ChargeBox electric vehicle (EV) charging stations throughout Florida. This is the single largest order of ADS-TEC Energy ChargeBox units to date in the U.S., and an extension of Smart City Capital's initial order announced in late 2021. The company also plans a third phase of deployment that is expected to involve more than 200 ADS-TEC Energy charging systems across 13 states in the U.S.
Smart City Capital's most recent purchase of more than $30 million in ADS-TEC Energy systems signals a major commitment to the benefits of ultra-high-speed charging, helping energy-deprived cities and remote locations accelerate the transformation to a more sustainable model. Together, the two companies will be using the 2022 Florida deployments, expected to begin mid-year, as a framework for the future rollouts in other states. The deployments – enabling public and private applications for both individual vehicles and fleets – will show how cities can more quickly reach their sustainability and carbon reduction goals without further burdening existing power-grids with costly electrical infrastructure upgrades. Deployments of the additional more than 200 ADS-TEC Energy charging systems are to take place starting in late 2022.
Smart City Capital chose to work with ADS-TEC Energy because of the capabilities and quality of the ChargeBox product combined with the company's decade of experience in battery-buffered charging technologies. In fact, Smart City Capital has built a new division of its business – UltraSmart Charge – around its partnership with ADS-TEC Energy. This division will be part of the Smart City Capital Market Place, a platform for municipalities to shop for charging systems infrastructure targeting 15,000 municipalities across the U.S., Canada and U.K.
"No other vendor can match what ADS-TEC Energy is doing. They are the right partner, at the right time, with the industry's most highly disruptive charging solution," said Oscar Bode, CEO of Smart City Capital. "We're proud to be bringing this first-of-its-kind ultra-high-speed charging to cities at a time when they need it to accelerate transformation and support sustainable economic growth."
ADS-TEC Energy's battery-buffered technology enables widespread, ultra-fast charging (up to 320 kW) on existing power-limited grids without additional infrastructure power upgrades. This allows for the introduction of ultra-fast charging to previously unaddressed geographies and segments such as city centers, remote and rural areas, helping to ensure more inclusive access to EV charging. ADS-TEC Energy chargers can be used to quickly charge municipal vehicles – a city bus, for example – without impacting power needs of critical services such as 911 first responder networks or street lighting.
"Smart City Capital is aggressively breaking down the significant barriers to cities of all sizes becoming smart cities. We're thrilled to be partnering with them to deploy our high-speed, battery-buffered charging stations all across the United States, without requiring a major overhaul to the power grid," said Thomas Speidel, CEO and founder of ADS-TEC Energy. "Together, we'll be accelerating the transition to an all-electric world."
About ADS-TEC Energy
ADS-TEC Energy Inc. is a US subsidiary of ADS-TEC Energy GmbH. ADS-TEC Energy GmbH is a subsidiary of ADS-TEC Energy, a publicly-listed company in Ireland and on NASDAQ. ADS-TEC Energy is drawing on more than ten years of experience with lithium-ion technologies, storage solutions and fast charging systems, including the corresponding 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
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including, but not limited to, statements regarding ADS-TEC Energy PLC's proposed business and business model, the markets and industry in which ADS-TEC Energy PLC and its subsidiaries (collectively, the "ADSE Group") intend to operate, the anticipated timing of the commercialization and launch of the ADSE Group's business and appointments to ADS-TEC Energy PLC's board and management.
When used herein, including any oral statements made in connection herewith, the words "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, ADS-TEC Energy PLC disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. ADS-TEC Energy PLC caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of ADS-TEC Energy PLC. These risks include, but are not limited to, (1) risks related to the rollout of ADS-TEC Energy PLC's business and expansion strategy; (2) consumer failure to accept and adopt electric vehicles; (3) overall demand for electric vehicle charging and the potential for reduced demand if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated; (4) the possibility that ADS-TEC Energy PLC's technology and products could have undetected defects or errors; (5) the effects of competition on ADS-TEC Energy PLC's future business; (6) the inability to successfully retain or recruit officers, key employees, or directors following the business combination; (7) changes in applicable laws or regulations; (8) the possibility that the novel coronavirus ("COVID-19") may adversely affect the results of operations, financial position and cash flows of ADS-TEC Energy PLC; (9) the possibility that ADS-TEC Energy PLC may be adversely affected by other economic, business, and/or competitive factors; and (10) other risks and uncertainties indicated from time to time in documents filed or to be filed with the SEC by ADS-TEC Energy PLC. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact ADS-TEC Energy PLC's expectations and projections can be found in ADS-TEC Energy PLC's periodic reports and other SEC filings that are available publicly on the SEC's website at http://www.sec.gov.
Contacts:
United States:
Barbara Hagin
Breakaway Communications
bhagin@breakawaycom.com
+1 408-832-7626
Scott Gamm
Strategy Voice Associates
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+1 917-626-9515
Europe:
Burkhard Leschke Brand Relations GmbH
Burkhard Leschke
b.leschke@blbr.de
+49 16093803331
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SOURCE ADS-TEC Energy
