ADS-TEC Energy and Caverion Extend Their Partnership to Denmark and Sweden

Rhea-AI Summary

ADS-TEC Energy (ADSE) and Caverion are expanding their partnership to Denmark and Sweden, following an agreement for Norway. ADS-TEC Energy provides battery-buffered fast charging solutions for electric vehicles, capable of up to 320 kW charging on grids. These solutions enable the replacement of low-capacity charging points with high-capacity ones without costly grid expansions. Caverion, a leader in public charging stations in Norway, installed one-third of the country's fast charging stations in 2023. The partnership aims to leverage ADS-TEC's technology to address grid limitations and promote ultra-fast charging across the Nordics. This collaboration is based on the successful partnership in Norway and aims to meet the growing demand for fast charging infrastructure in the region.

Positive

• Expansion to Denmark and Sweden enhances market reach.
• Partnership with Caverion leverages ADS-TEC's fast charging technology.
• Battery-buffered solutions allow 320 kW charging without costly grid expansions.
• Caverion installed one-third of Norway's fast charging stations in 2023.

Negative

• None.

Insights

Market Research Analyst

The expansion of the partnership between ADS-TEC Energy and Caverion to Denmark and Sweden signals a strategic move to capitalize on growing e-mobility markets in the Nordic region. This region, particularly Norway, has already demonstrated high electric vehicle (EV) adoption rates, suggesting favorable market conditions for such advanced charging solutions.

ADS-TEC Energy’s battery-buffered fast charging solutions address a important pain point in the EV market: the limited capacity of existing power grids. By offering ultra-fast charging without the need for extensive grid upgrades, they provide a practical and cost-effective solution for expanding EV infrastructure. This could potentially accelerate EV adoption by making charging more convenient and accessible.

From a market perspective, entering Denmark and Sweden could significantly enlarge ADS-TEC Energy's customer base, driving revenue growth. Partnering with Caverion, known for its strong presence in Norway, likely offers a competitive advantage in these new markets due to established trust and operational expertise.

However, the success of this expansion will depend on several factors. The ability to scale operations, secure local regulatory approvals and compete with existing charging infrastructure providers will be key determinants. Additionally, market demand must be robust enough to justify the investment in new installations and services.

Tech Expert

ADS-TEC Energy’s technology stands out for its ability to deliver ultra-fast charging of up to 320 kW using battery-buffered solutions. This innovation is significant because it mitigates the need for costly and time-consuming grid expansions, which are often bottlenecks in setting up new charging stations.

The technology integrates batteries to store energy and then releases it quickly when needed, thus offering a high charging capacity even in areas with limited grid power. This makes it particularly suited for both urban and rural settings, increasing its application versatility. Furthermore, the ability to position these chargers up to 300 meters away from grid connections adds a layer of flexibility that can be important in densely populated or geographically challenging areas.

From a technical standpoint, this solution addresses the scalability issue of EV infrastructure. It provides a blueprint for other regions and countries looking to expand their EV charging networks without overhauling existing grid systems. However, it’s important to consider the life cycle and efficiency of the integrated batteries, as well as the overall system's reliability and maintenance needs over time.

• Caverion and German company ADS-TEC Energy are expanding their cooperation to include Denmark and Sweden just a few weeks after signing an agreement for Norway.
• ADS-TEC Energy supplies battery-buffered fast charging solutions that enable ultra-fast charging with up to 320 kW on the limited grid, whether in the city or in the countryside.
• Existing charging points with low capacity can be easily replaced with a solution from ADS-TEC Energy and upgraded to high charging capacity.
• Caverion is the market leader for public charging stations in Norway, installing one in three fast charging stations in the country in 2023

NÜRTINGEN, Germany--(BUSINESS WIRE)-- ADS-TEC Energy (ADSE) and Caverion have signed a partnership agreement for the supply of battery-buffered fast charging solutions that enable ultra-fast charging of electric vehicles with up to 320 kW – without complicated and expensive grid expansion.

ADS-TEC Energy extends partnership with Caverion in Nordics (Graphic: Business Wire)

Caverion is the market leader for public charging stations in Norway. Last year, the company installed one in three fast charging stations in the country and has service contracts for around half of all chargers in operation.

The company's e-mobility team sees great opportunities in ADS-TEC Energy's solution. "The limited capacity of the power grid is an obstacle to the use of fast-charging stations in many places. With this solution, it is possible to set up ultra-fast charging,” says Ove Kjelby, Head of Sales e-mobility at Caverion.

With its integrated batteries, ADS-TEC Energy ChargeBox and ChargePost deliver fast charging whenever it is required. By using the existing grid infrastructure, ADS-TEC Energy’s chargers offer many times the charging capacity of the grid’s power connection, making it possible to charge EVs in minutes. Furthermore, these solutions are a cost-effective way to upgrade older, low-power AC charging stations. They also offer the flexibility of being positioned up to 300 meters away from the grid connection.

ADS-TEC Energy and Caverion have been working together in Norway since February 2024 and, based on this positive experience, the partnership is now being extended further in the Nordic region.

"ADS-TEC Energy's products and its innovative solution for ultra-fast charging in limited grids have opened the eyes of our colleagues in Sweden and Denmark, and we have therefore decided to expand the partnership sooner rather than later," added Kjelby.

Managing Director of ADS-TEC Energy, Thomas Speidel, is looking forward to a long-term partnership: "We see great potential in the cooperation with Caverion to offer fast, practical and high-quality services for customers and owners of charging stations in the Nordic region. This experienced and reliable company is the perfect partner because Caverion covers the entire spectrum of high-quality maintenance and services in the world's leading electromobility market."

More than 20 percent of vehicles on Norwegian roads are now electric cars. According to an estimate from 2022, the country will need between 6,000 and 10,000 fast charging points for electric cars by 2030. Fast charging solutions, such as those from ADS-TEC Energy, make a decisive contribution to achieving this goal because they can be installed quickly and without upgrading the power grid.

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: www.ads-tec-energy.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240620169180/en/

Media:

For ADS-TEC Energy –International

Juliane Kunz

Senior Press Officer

press@ads-tec-energy.com



For ADS-TEC Energy – US

Stephannie Depa

Breakaway Communications

+1 530-864-0136

sdepa@breakawaycom.com

Source: ADS-TEC Energy

FAQ

What is the recent partnership between ADS-TEC Energy (ADSE) and Caverion?

ADS-TEC Energy and Caverion have extended their partnership to include Denmark and Sweden, following a recent agreement for Norway.

What technology does ADS-TEC Energy (ADSE) provide in its partnership with Caverion?

ADS-TEC Energy provides battery-buffered fast charging solutions for electric vehicles, enabling up to 320 kW charging on grids.

How does the ADS-TEC Energy (ADSE) and Caverion partnership benefit charging infrastructure?

The partnership allows the installation of ultra-fast charging stations without costly grid expansions, addressing grid limitations and enhancing charging capacity.

What is the significance of ADS-TEC Energy’s (ADSE) fast charging solutions?

ADS-TEC Energy’s fast charging solutions offer high charging capacity using existing grid infrastructure, making it possible to charge EVs in minutes.

How successful was Caverion in Norway before extending its partnership with ADS-TEC Energy (ADSE)?

Caverion installed one-third of Norway's fast charging stations in 2023 and has service contracts for around half of all chargers in operation.