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ADS-TEC Energy Announces Strategic Partnership with GP JOULE CONNECT for Immediate Expansion of Ultra-Fast EV Charging Infrastructure in Europe
Rhea-AI Impact
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Rhea-AI Sentiment
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Tags
partnership
Rhea-AI Summary
ADS-TEC Energy (NASDAQ: ADSE) has partnered with GP JOULE CONNECT to deploy 30 ChargePost and 10 ChargeBox ultra-fast charging systems in 2023. This collaboration aims to enhance e-vehicle charging infrastructure without requiring extensive power grid expansion. The battery storage-based systems will be installed in Germany and across Europe, facilitating the transformation of energy systems. GP JOULE CONNECT specializes in sustainable mobility solutions, further supporting the initiative to promote climate-friendly mobility through advanced charging technologies.
Positive
Strategic partnership with GP JOULE CONNECT to deploy 30 ChargePost and 10 ChargeBox systems.
Facilitates ultra-fast charging infrastructure expansion without major grid upgrades.
Strengthens ADS-TEC's position in the growing e-mobility market.
Negative
None.
GP JOULE CONNECT orders 30 ChargePost and 10 ChargeBox ultra-fast charging systems from ADS-TEC Energy.
The battery storage-based charging stations will enable ultra-fast, convenient charging of e-vehicles without expanding existing power grids.
The partnership enables coupling of sustainable energy production, development and operation of e-charging parks, and other energy services.
NÜRTINGEN, Germany--(BUSINESS WIRE)--
ADS-TEC Energy (NASDAQ ADSE), a leading manufacturer of battery storage-based ultra-fast charging solutions, today announced a strategic partnership with sustainable mobility solutions company GP JOULE CONNECT, a leading systems provider for new mobility. As part of the collaboration, GP JOULE CONNECT will be deploying 30 ADS-TEC Energy ChargePost and 10 ChargeBox systems in 2023. Both companies aim to actively drive the expansion of charging infrastructure as well as the transformation of energy systems and jointly plan to build numerous battery storage-based, ultra-fast charging stations in Germany and elsewhere in Europe.
ADS-TEC Energy, a leading manufacturer of battery storage-based ultra-fast charging solutions, today announced a strategic partnership with sustainable mobility solutions company GP JOULE CONNECT, a leading systems provider for new mobility. As part of the collaboration, GP JOULE CONNECT will be deploying 30 ADS-TEC Energy ChargePost and 10 ChargeBox systems in 2023. Both companies aim to actively drive the expansion of charging infrastructure as well as the transformation of energy systems and jointly plan to build numerous battery storage-based, ultra-fast charging stations in Germany and elsewhere in Europe. (Photo: Business Wire)
Customized energy concepts
GP JOULE CONNECT projects, plans, installs and operates e-charging parks as well as charging and energy management services for the real estate industry, charging parks, service stations, truck and bus depots and energy suppliers as well as infrastructure companies, with a focus on Germany, Austria and Switzerland. Working with MOBILIZE POWER SOLUTIONS, a joint venture of GP JOULE CONNECT with RENAULT GROUP for the three countries, it is also heavily involved in infrastructure solutions for fleets and the automotive sector. GP JOULE CONNECT also acts as a mobility service provider with an extensive charging network, enabling the sharing and pooling of e-vehicles including a modern booking and marketing platform.
The battery-buffered approach provided by the ADS-TEC Energy ultra-fast charging systems will enable expansion in both inner cities and rural areas, where the expansion of the network infrastructure is very expensive and complex, or in some cases even impossible.
Manuel Reich, managing director of GP JOULE CONNECT said, "In ADS-TEC Energy, we have found a strong, innovative partner, with products such as ChargeBox and ChargePost that combine high-performance, reliable technology with optimal, long-term total cost of ownership (TCO). We share similar values and visions, especially the desire to expand the charging infrastructure for climate-friendly mobility. I'm looking forward to working together, developing ideas together and realizing the first projects."
ChargePost and ChargeBox: Easy, fast installation and highest performance
The ultra-fast, battery-buffered ChargeBox system can be used both outdoors and indoors with its two separate charging columns. Completely ground-level installation is possible, with minimal construction required, saving time and costs. The system charges continuously from the available distribution grid at any given time, storing and boosting charging power up to 320 kilowatts (kW) for ultra-fast and whisper-quiet operation.
ChargePost is ADS-TEC Energy's recently-introduced ultra-fast charging station, which integrates two charging columns, complete with power electronics, battery storage and air conditioning in an extremely powerful, compact and quiet "all-in-one" system. Two charging points can be installed on a footprint of less than two square meters (21 square feet), for ultra-fast charging of more than 100 kilometers (over 60 miles) of range in just a few minutes. ChargePost delivers up to 300 kW DC power for one vehicle and 150 kW for two charging points used simultaneously, and offers between 144 and 201 kWh battery capacity, as well as one to two optional 75-inch advertising displays on the exterior surfaces.
Due to the uniquely powerful performance even in power-limited grids and the compact size of the charging technology, ADS-TEC Energy 2022 was nominated for the German Future Prize of the Federal President and elevated to his "Circle of Excellence."
Innovative network services and advertising space offer additional revenue streams for operators
ChargePost provides “plug-and-play” operation, connecting directly to the existing, power-limited grid. It also enables additional services: When used in conjunction with a photo-voltaic system, ChargePost allows electricity to be stored and then used to charge e-vehicles or used for grid services. The ability to also return stored energy bidirectionally to the grid is expected to be possible in the first half of 2023, opening up entirely new business models for operators.
ADS-TEC-Energy founder and CEO Thomas Speidel said, "We are delighted to collaborate with GP JOULE CONNECT, an experienced, high-performance partner with a holistic focus on the entire renewable energy value chain, whose offerings are supported in many ways by our storage and charging systems. We intend to aggressively advance the expansion of charging infrastructure together. We are already planning further exciting projects and look forward with great anticipation to a successful expansion of this partnership."
About GP JOULE
Founded in 2009 based on the belief that a 100% renewable energy supply is feasible, GP JOULE is now a system provider for integrated energy solutions from solar, wind and biomass power as well as being a partner at the supply level for electricity, heat, hydrogen and electric mobility. GP JOULE is thus a pioneering company in sector cross-linkage. Around 600 people work for the medium-sized group of companies in Germany, Europe and North America. GP JOULE is the winner of the Schleswig-Holstein Business Environment Award 2019 and the German Renewables Award 2020.
About GP JOULE CONNECT
GP JOULE CONNECT, a member of the GP JOULE Group, combines power generation from renewable energy sources with sustainable use in the form of e-mobility. CONNECT plans and implements projects around the core products of consulting, charging infrastructure, sharing/pooling and charging and energy management for the housing industry, vehicle fleets, energy suppliers, automotive and infrastructure operators.
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.
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 expectations with respect to future performance and the anticipated timing of certain commercial activities, such as the Company’s ability to secure critical materials for production and anticipated timing for recognition of revenue from new orders. 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/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.
