ADS-TEC Energy Conquers the Nordic Countries – Caverion Group to Become a Strong and Strategic Long-term Partner

Rhea-AI Summary

ADS-TEC Energy partners with Caverion to expand fast-charging electric mobility infrastructure in Nordic countries, starting with Norway. The partnership aims to provide ultra-fast charging solutions without the need for grid expansion, catering to limited grid access and existing infrastructure. ADS-TEC products like ChargePost, ChargeBox, and C&I energy storage systems offer multi-stream revenue opportunities and efficient charging for electric vehicles.

Insights

Energy Sector Analyst

The partnership between ADS-TEC Energy and Caverion signifies a strategic move in the electric vehicle (EV) infrastructure market, particularly within the Nordic region, which is rapidly adopting EVs. The collaboration leverages Caverion's extensive network and technical expertise in building services to deploy ADS-TEC's fast-charging solutions. This alliance is poised to address the growing demand for EV charging stations without necessitating significant upgrades to the existing power grid, which is a common barrier to the expansion of EV infrastructure.

With Norway's high penetration of EVs, the demand for efficient charging solutions is critical. ADS-TEC's battery-buffered fast-charging technology enables rapid charging even in areas with limited grid capacity. This could potentially reduce the need for costly grid enhancements, offering a cost-effective solution for EV charging infrastructure expansion. Considering Norway's target of 6,000 to 10,000 fast-charging points by 2030, the partnership could play a pivotal role in achieving these numbers, thereby supporting the country's transition to sustainable transportation.

Financial Analyst

From a financial perspective, the partnership between ADS-TEC Energy and Caverion is likely to open up new revenue streams for both companies. ADS-TEC's innovative charging solutions, capable of ultra-fast charging on limited grids, present a unique selling proposition that can attract Charge Point Operators (CPOs) looking to upgrade their infrastructure. The multi-stream revenue opportunities mentioned could refer to various business models, such as pay-per-use charging, subscriptions, or providing ancillary services to the grid. These revenue models could improve the return on investment for CPOs and drive the adoption of ADS-TEC's technology.

For investors, the deployment of ADS-TEC's charging solutions in a leading EV market like Norway could signal the scalability of the technology and the potential for similar agreements in other regions. It is essential to monitor the execution of this partnership and the market's response to gauge the long-term financial impact on ADS-TEC Energy's performance and stock valuation.

Sustainability Expert

The collaboration between ADS-TEC Energy and Caverion aligns with global efforts to reduce carbon emissions by facilitating the transition to electric mobility. The ability of ADS-TEC's charging systems to operate on existing infrastructure without the need for grid expansion is particularly significant from a sustainability standpoint. It minimizes the environmental impact associated with constructing new grid infrastructure and accelerates the deployment of EV charging stations.

Furthermore, the technology's capability to manage peak demand through battery buffering helps mitigate stress on the power grid, promoting energy efficiency and grid stability. This is crucial for countries like Norway, which generate a significant portion of electricity from renewable sources. The partnership's success in Norway could serve as a model for other countries aiming to integrate EVs into their transportation systems sustainably.

• ADS-TEC Energy is expanding its presence in the Nordic countries, starting with Norway
• The company is partnering with Caverion – an experienced and well-known partner in the field of industrial and CPO services
• ADS-TEC Energy is kick-starting the partnership by supplying ChargePost, ChargeBox and C&I energy storage systems
• ADS-TEC products offer ultra-fast charging in limited grids and on existing infrastructure, combined with multi-stream revenue opportunities

NÜRTINGEN, Germany--(BUSINESS WIRE)--

ADS-TEC Energy (NASDAQ: ADSE) and the Caverion Group sign a historic partnership agreement for Norway, serving as the starting point for the Nordic countries. Together, they are driving forward the expansion of fast-charging electric mobility infrastructure in these countries. Caverion, an internationally active maintenance company, will be the system integrator, taking over the commissioning and maintenance of the company’s fast-charging products with immediate effect. This makes it the official service partner for ADS-TEC Energy in Norway.

Caverion – a strong partner in the Nordic countries

Caverion provides technical building services across all trades. It plans and installs technical building systems and offers service and maintenance over the entire life cycle of a building – regardless of whether this is an office complex, industrial site or infrastructure. Furthermore, it is a strong and trusted service provider for leading CPOs in their markets. The company has 14,500 employees at 216 locations in ten countries. Partnering with ADS-TEC Energy is the next logical step for its business.

“ADS-TEC products are innovative and a good solution for our customers and partners who often have limited grid access,” says Ove Kjelby, Head of Sales E-Mobility at Caverion. “Since they enable ultra-fast charging from limited networks, they can utilize existing infrastructure without expanding the grid. Furthermore, ADS-TEC products are a good fit for CPOs that need to renew their older chargers in a cost-efficient way, while still capitalizing on the existing infrastructure.” He also points out the ability to level off peaks due to the products’ technical finesse: “Since ChargeBox and ChargePost can provide multi-stream revenues for our clients, we are happy to include this offer in our range of products and services.”

ADS-TEC Energy’s CEO Thomas Speidel is looking forward to a long-term partnership: “For us, Caverion represents a partner in Norway and the Nordic countries that offers quick, hands-on quality services to customers and CPOs. This experienced and trusted company is the perfect partner for bringing the full range of high-quality maintenance and services to the world’s leading e-mobility market.”

Fast charging without grid expansion

Fast-charging solutions from ADS-TEC Energy are an industry benchmark: the battery-buffered platform solutions offer ultra-fast charging with up to 320 kW and a small footprint – without the need for complex, costly grid expansion. This means that electric vehicles (EVs) can be charged within minutes, even if the grid power is too low for fast charging. ADS-TEC Energy is supplying the fast-charging solutions ChargePost, ChargeBox and C&I energy storage systems. The ChargeBox is the most compact and efficient solution in its class. Thanks to the various placement options for the system components, the grid connection can be up to 300 meters away from the charging point. The ChargePost also enables High Power Charging (HPC) within minutes on a power-limited grid – and takes ultra-fast charging to a new level with best-in-class technologies. With a local presence, ADS-TEC Energy and Caverion ensure fast and reliable service in Norway.

Norway is a global pioneer in e-mobility. More than 20 percent of vehicles on Norwegian roads are now EVs. According to an estimate from 2022, the country will need between 6,000 and 10,000 fast-charging points for EVs by 2030. Fast-charging solutions, such as those from ADS-TEC Energy, will help the country to achieve this goal without extensive structural changes.

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: ads-tec-energy.com

About the Caverion Group

Caverion stands for technical building equipment in all trades. They plan and construct technical building systems and provide service and maintenance. Caverion covers the entire life cycle of a building – whether office complex, industrial plant, airport, hospital or congress center. Caverion OY, based in Helsinki, employs more than 14,000 people in ten countries in Northern, Eastern and Central Europe.

More information: caverion.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240229940835/en/

Media:

ADS-TEC Energy Europe:

Juliane Kunz

Head of PR Europe

press@ads-tec-energy.com

ADS-TEC Energy United States:

Stephannie Depa

Breakaway Communications

sdepa@breakawaycom.com

+1 530-864-0136

Source: ADS-TEC Energy plc

FAQ

What is the partnership agreement between ADS-TEC Energy and Caverion for Norway?

ADS-TEC Energy and the Caverion Group have signed a historic partnership agreement for Norway, marking the beginning of their collaboration to expand fast-charging electric mobility infrastructure in the Nordic countries.

What products does ADS-TEC Energy supply as part of the partnership?

ADS-TEC Energy is supplying ChargePost, ChargeBox, and C&I energy storage systems as part of the partnership with Caverion for fast-charging electric mobility infrastructure in Norway.

What are the benefits of ADS-TEC products for customers with limited grid access?

ADS-TEC products offer ultra-fast charging solutions without the need for complex grid expansion, making them ideal for customers with limited grid access. They enable efficient charging on existing infrastructure.

How does the partnership between ADS-TEC Energy and Caverion benefit CPOs?

The partnership benefits CPOs by providing innovative solutions for renewing older chargers in a cost-efficient way while maximizing existing infrastructure. ADS-TEC products offer multi-stream revenue opportunities for CPOs.

What is the significance of Norway in the e-mobility market?

Norway is a global pioneer in e-mobility, with over 20% of vehicles on its roads being EVs. The country aims to have between 6,000 and 10,000 fast-charging points for EVs by 2030, making fast-charging solutions crucial for achieving this goal.