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ADS-TEC Energy's ChargePost fast-charging station has won the German Innovation Award 2024 in the category Excellence in Business to Business: E-Mobility Technologies. The award, established by the German Bundestag and sponsored by German industry, acknowledges ChargePost's unique combination of features, including its integrated battery system that enables ultra-fast EV charging even on power grids. The station, designed and produced in Germany, can charge up to 300 kW and has already been deployed in hundreds of locations across Europe. It offers off-grid charging, reducing the need for extensive network expansion, and presents new revenue opportunities for infrastructure operators.
ADS-TEC Energy (NASDAQ: ADSE) reported its first quarter 2024 trading update with several key highlights. Revenue reached approximately EUR 37 million, and adjusted EBITDA was around EUR 1 million. This marks the second consecutive profitable quarter. Cash reserves stood at EUR 23 million. The company expects full-year 2024 revenues to exceed EUR 200 million with positive EBITDA, supported by a strong order backlog. Operationally, ADS-TEC expanded its client base, secured strategic partnerships, and introduced ultra-fast EV charging stations in the US and Europe. Key appointments to the Board of Directors were also made to enhance leadership capabilities.
ADS-TEC Energy's ChargePost wins the Green Product Award 2024 in the mobility category for its battery-buffered rapid charging station, enabling off-grid charging within minutes. The product's features include energy storage, fast charging at up to 300 kW, and sustainability benefits.
ADS-TEC Energy (ADSE) reported record revenue in FY 2023, with EUR 107.4 million, compared to EUR 26.4 million in FY 2022. The company achieved its first profitable quarter with a fourth-quarter revenue of approximately EUR 50.3 million and an Adjusted EBITDA of EUR 4.6 million. Operational highlights include the installation of over 1,500 DCFC charging points and the formation of key partnerships. ADS-TEC anticipates revenues exceeding EUR 200 million in 2024 and expects to be EBITDA positive. The company's systems boast over 97% uptime, positioning them for continued growth and success.
ADS-TEC Energy plc (NASDAQ: ADSE) has appointed Alwin Epple, a prominent figure in the automotive industry, to its Board of Directors. With over 30 years of experience at Daimler AG and Mercedes Benz Group, Mr. Epple brings a wealth of expertise to the company. His international career trajectory showcases his ability to navigate complex markets and deliver tangible results. ADS-TEC Energy's appointment of Mr. Epple highlights the company's commitment to driving innovation and sustainable growth.
ADS-TEC Energy (ADSE) will host a business update call on April 30th, 2024, following the release of full-year 2023 results. The call will be led by CEO Thomas Speidel and CFO Wolfgang Breme. Participants can join via phone or webcast. Replay options will be available for two weeks.
