ADS-TEC Energy Names GenZ EV Solutions as Automotive Industry Distributor for its Battery-Buffered, Ultra-Fast Electric Vehicle Charging Solutions in the Americas
ADS-TEC Energy (NASDAQ: ADSE) announced a partnership with GenZ EV Solutions as its distributor for electric vehicle (EV) charging solutions in North and South America. GenZ EV, founded by automotive experts, will distribute ADS-TEC's cutting-edge battery-buffered charging technology, which allows ultra-fast charging (up to 320 kW) on existing low-power grids. This collaboration aims to facilitate the deployment of EV chargers across a multi-billion dollar automotive market with 18,000 U.S. automotive dealers. GenZ EV will also provide premium services to support businesses transitioning to eMobility.
- Partnership with GenZ EV Solutions enhances distribution capabilities in the Americas.
- ADS-TEC Energy's ultra-fast charging technology can operate on existing low-power grids, minimizing infrastructure costs.
- Potential access to a multi-billion dollar market with over 18,000 automotive dealers in the U.S.
- None.
NÜRTINGEN, Germany, March 4, 2022 /PRNewswire/ -- ADS-TEC Energy (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, today announced that GenZ EV Solutions (GenZ EV) has been designated distributor of its electric vehicle (EV) charging solutions to the automotive market in North America and South America. GenZ EV, a new company founded by automotive industry veterans with deep expertise, will be distributing ADS-TEC Energy charging technology to automotive OEMs, automotive dealerships and automotive fleet companies. There are over 18,000 automotive dealers in the U.S. alone, representing a multi-billion dollar market opportunity.
"We are excited to collaborate with ADS-TEC Energy," said José Valls, CEO, GenZ EV, who was previously chairman of Nissan North America. "We evaluated many options for technology partners and chose ADS-TEC Energy because of the company's deep experience in battery technologies. Their cutting-edge charging solution brings unique benefits to the automotive industry, such as ease of install and the ability to draw energy from existing, low-power energy grids to deliver a consistent, ultra-fast charge."
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 will make it easier for automotive businesses to quickly install EV chargers and bring the benefits of ultra-fast charging to their expanding fleets of EVs and customers. It also allows for the introduction of ultra-fast charging to locations where it was previously unavailable such as city centers, and remote and rural areas.
"The GenZ EV team is the ideal distribution partner for our technology, bringing decades of automotive industry experience and established relationships," said Gowton Achaibar, president and CEO, ADS-TEC Energy. "Together, we'll be making it easier for customers to deploy ultra-fast charging on site, which will be a critical asset to their businesses, both in terms of costs and convenience, as inventories of EVs increase."
GenZ EV, which officially launched as a company in late February, will be offering ADS-TEC Energy's charging systems along with a suite of premium services for automotive businesses transitioning into eMobility.
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
About GenZ EV Solutions
GenZ EV Solutions, a private firm based in Miami, was founded by a team of entrepreneurs at the crossroads of sustainability, technology and finance. Inspired by Gen Z, the generation that triggered the inflection point for mass-adoption of EVs, its mandate is to deliver Intelligent Fast-charging Solutions to Power the Future of eMobility.
The company is focused on integrating the world's best technologies, services and investment solutions to help businesses navigate the transition into the era of electrification. World-class hardware by ADS-TEC Energy is coupled with a full suite of premium, custom services, including up to 100 percent financing via Mitsubishi Capital. We also ally with Charge Enterprises to offer a complete platform of services spanning engineering, installation and after sales revenue-driving solutions across industries.
Like its namesake generation, the team behind GenZ is deeply committed to technology and the environment. Three percent of profits will be invested into reforestation efforts in the U.S. to be announced late 2022.
GenZ EV Solutions is a GenZ Holdings Company, also owner of Keyfetch, the technology and insurance company. To learn more about GenZ EV Solutions go to, genz.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
scott@strategyvoiceassociates.com
+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
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