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JOLT and ADS-TEC Energy celebrate the success of their strategic partnership with the opening of an ultra-fast charging station at ESSO in Stuttgart
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JOLT and ADS-TEC Energy expand strategic collaboration with the introduction of battery-buffered fast charging stations in city areas
JOLT is planning 5,000 ultra-fast ADS-TEC Energy charging stations in Europe and the USA by 2027
Installation at gas stations in Germany has already begun: first JOLT station is successfully in operation in Hamburg at an ESSO station
JOLT plans to install 120 ultra-fast charging points from ADS-TEC Energy at 60 ESSO locations in key German cities in the next 6 - 8 months
Inauguration of a further ultra-fast charging station at ESSO in Stuttgart on July 26, 2022
Ultra-fast charging of electric cars will soon be possible everywhere in inner cities: ADS-TEC Energy, a leader in battery-buffered ultra-fast charging technology and Munich-based JOLT Energy announcing the opening of a new site at an ESSO filling station in Stuttgart as part of its strategic partnership. The first installations at service stations in the Netherlands and Germany has already begun. Distribution in the USA is in preparation.
NUERTINGEN, Germany & MUNICH--(BUSINESS WIRE)--
JOLT Energy and ADS-TEC Energy (Nasdaq: ADSE), as part of their strategic partnership, announce that the introduction of ultra-fast charging stations in major European cities and the United States is gaining momentum. Latest example is the opening of an ultra-fast battery-buffered charging station, a so-called ChargeBox, on 26 July at an ESSO filling station in Stuttgart.
Inauguration of a new ultra-fast charging station at ESSO in Stuttgart: Maurice Neligan, CEO of JOLT Energy Group (left) and Thomas Speidel, CEO, ADS-TEC Energy. (Photo: Business Wire)
ADS-TEC Energy develops and manufactures ultra-fast, battery-buffered charging stations that charge modern electric cars as well at power-limited grids in minutes instead of hours. The Munich-based charging network operator JOLT buys, and operates ADS-TEC Energy's battery and charging technology. In addition, both companies are cooperating on the development of advanced mobile, ultra-fast charging stations.
JOLT has already started to deploy the battery-buffered ADS-TEC Energy ultra-fast charging stations: They will be installed at the EG Group's ESSO service stations in Munich, Berlin, Hamburg, Frankfurt, Stuttgart, Dresden, Duesseldorf and Nuremberg as well as at TAMOIL stations in the Netherlands. JOLT is also cooperating with ADS-TEC Energy, the consultant Pataki-Cahill and engineering giant AECOM on the expansion in the United States. JOLT aims to install and operate up to 5,000 ultra-fast charging stations over the next 5 years.
Maurice Neligan, CEO of JOLT Energy Group: "This partnership allows JOLT to accelerate the deployment of its charging network in cities and urban areas. For us, speed of deployment and the flexibility to provide high quality ultra-fast charging in large population centers is key. ADS-TEC Energy’s intelligent charging and battery technology is best in class, in terms of power, quietness and charging time, as well as being supported by a highly competent team of engineers and specialists. This is a great example of two companies complimenting each other to leverage growth opportunities in an emerging and dynamic market.”
Thomas Speidel, CEO, ADS-TEC Energy: "We are looking forward to enabling broad acceptance of e-mobility in Europe and the USA through ultra-fast charging options in almost all places together with JOLT. JOLT's management team has outstanding know-how, and the sales and operating concept is flexible and innovative. The fact that JOLT was able to win TAMOIL and one of the world’s leading independent convenience retailers, EG Group for our solution speaks for itself."
About Jolt
JOLT Energy is a Dublin, Munich & Boston based technology business, focused on owning and operating ultra-fast charging solutions in urban areas. Its business model is to provide vehicle high-powered charging combined with grid-services and digital advertising. With an experienced management team coming from large companies like Siemens, Continental, General Electric, Mitsubishi and Volkswagen group, JOLT takes an innovative and agile approach to deploying high-tech, future oriented charging solutions.
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 anticipated timing for the installation of ultra-fast charging stations in Europe and the USA. 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/investor-relations-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.
