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Aquarius has signed a memorandum of understanding with EnviroCharge to conduct a pilot in the U.S. for one of the largest car rental companies in the world, in exchange for $150,000

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Aquarius has signed a memorandum of understanding with EnviroCharge to conduct a pilot program with one of the world's largest car rental companies. The pilot, scheduled for 2025, will integrate Aquarius's innovative power systems into electric vehicle charging infrastructure, with $150,000 compensation for the pilot. The agreement presents potential for extensive orders during 2026-2027. Aquarius's systems generate clean electricity for ultra-fast EV charging, offering smaller and more efficient solutions compared to existing market options, independent of the electrical grid. This marks Aquarius's fourth pilot in the United States, with the memorandum valid for 18 months or until a final agreement is signed.

Aquarius ha firmato un memorandum d'intesa con EnviroCharge per condurre un programma pilota con una delle più grandi compagnie di noleggio auto del mondo. Il pilota, previsto per il 2025, integrerà i sistemi di alimentazione innovativi di Aquarius nell'infrastruttura di ricarica per veicoli elettrici, con un compenso di 150.000 $ per il pilota. L'accordo presenta potenziali ordini estesi durante il 2026-2027. I sistemi di Aquarius generano elettricità pulita per la ricarica ultra-rapida di veicoli elettrici, offrendo soluzioni più piccole ed efficienti rispetto alle opzioni attualmente disponibili sul mercato, indipendentemente dalla rete elettrica. Questo segna il quarto pilota di Aquarius negli Stati Uniti, con il memorandum valido per 18 mesi o fino alla firma di un accordo definitivo.

Aquarius ha firmado un memorando de entendimiento con EnviroCharge para llevar a cabo un programa piloto con una de las compañías de alquiler de automóviles más grandes del mundo. El piloto, programado para 2025, integrará los sistemas de energía innovadores de Aquarius en la infraestructura de carga de vehículos eléctricos, con una compensación de $150,000 para el piloto. El acuerdo presenta un potencial para pedidos extensos durante 2026-2027. Los sistemas de Aquarius generan electricidad limpia para la carga ultra-rápida de vehículos eléctricos, ofreciendo soluciones más pequeñas y eficientes en comparación con las opciones disponibles en el mercado, de manera independiente de la red eléctrica. Este es el cuarto piloto de Aquarius en los Estados Unidos, con el memorando vigente por 18 meses o hasta que se firme un acuerdo final.

아쿠아리우스엔비로차지와 협력해 세계 최대 자동차 렌탈 회사 중 하나와 파일럿 프로그램을 진행하는 양해각서(MOU)를 체결했습니다. 2025년에 예정된 이 파일럿은 아쿠아리우스의 혁신적인 전력 시스템을 전기차 충전 인프라에 통합하며, 파일럿에 대한 보상금으로 150,000달러가 지급됩니다. 이 계약은 2026-2027년에 걸쳐 광범위한 주문 가능성을 제시합니다. 아쿠아리우스의 시스템은 전기망에 의존하지 않고 초고속 전기차 충전을 위한 청정 전기를 생성하여, 기존 시장 옵션에 비해 더 작고 효율적인 솔루션을 제공합니다. 이번이 아쿠아리우스의 미국 내 네 번째 파일럿으로, 양해각서는 18개월간 유효하며 최종 계약이 체결될 때까지 유효합니다.

Aquarius a signé un protocole d'accord avec EnviroCharge pour mener un programme pilote avec l'une des plus grandes sociétés de location de voitures au monde. Le pilote, prévu pour 2025, intégrera les systèmes énergétiques innovants d'Aquarius dans l'infrastructure de recharge des véhicules électriques, avec une compensation de 150 000 $ pour le pilote. L'accord présente un potentiel de commandes étendues durant 2026-2027. Les systèmes d'Aquarius génèrent de l'électricité propre pour la recharge ultra-rapide des véhicules électriques, offrant des solutions plus petites et plus efficaces par rapport aux options existantes sur le marché, indépendamment du réseau électrique. Cela marque le quatrième pilote d'Aquarius aux États-Unis, le protocole d'accord étant valide pendant 18 mois ou jusqu'à la signature d'un accord final.

Aquarius hat ein Memorandum of Understanding mit EnviroCharge unterzeichnet, um ein Pilotprojekt mit einem der weltweit größten Autovermieter durchzuführen. Der Pilot, der für 2025 geplant ist, wird die innovativen Energiesysteme von Aquarius in die Ladeinfrastruktur von Elektrofahrzeugen integrieren, mit einer Entschädigung von 150.000 $ für das Pilotprojekt. Die Vereinbarung bietet Potenzial für umfangreiche Bestellungen in den Jahren 2026-2027. Die Systeme von Aquarius erzeugen saubere Energie für ultraschnelles Laden von Elektrofahrzeugen und bieten im Vergleich zu vorhandenen Marktoptionen kleinere und effizientere Lösungen, unabhängig vom Stromnetz. Dies ist das vierte Pilotprojekt von Aquarius in den Vereinigten Staaten, wobei das Memorandum 18 Monate lang gültig ist oder bis ein endgültiger Vertrag unterzeichnet wird.

Positive
  • Secured $150,000 payment for conducting the pilot program
  • Partnership with major car rental company indicates market validation
  • Potential for significant orders in 2026-2027
  • Fourth pilot program in the U.S. market showing expansion
Negative
  • Commercial revenue potential delayed until 2026-2027
  • Agreement is preliminary (MOU) and not a final binding contract
  • Fourth Pilot for Aquarius in the United States
  • The agreement was signed as part of Aquarius's collaboration with EnviroCharge, which installs and operates electric vehicle charging stations in the United States.
  • The success of the pilot is expected to yield significant orders for Aquarius for the years 2026-2027.
  • Aquarius's innovative systems generate and provide clean electricity and are designed to enable ultra-fast charging of electric vehicles in the growing electric vehicle market. Aquarius's systems are smaller and more efficient compared to existing market solutions and are not dependent on the electrical grid.

TEL AVIV, Israel, Dec. 13, 2024 /PRNewswire/ -- According to Gal Friedman, CEO of Aquarius: "We are proud to collaborate with one of the largest and leading car rental companies in the world on this groundbreaking project. This project will significantly increase the number of electric vehicles the rental company can charge at its sites, thereby allowing it to rent more vehicles to its customers as a direct result of using our innovative power systems at its locations. This agreement joins several other significant agreements we have recently signed in the American market. We continue to present our revolutionary system to more and more companies.

The dual achievement we are reporting today is both the payment we will receive for conducting the pilot and the type of companies we are collaborating with, companies that are planning to jointly examine and implement our system. This collaboration demonstrates our commitment to innovation and green energy, and we look forward to the success of the pilot and the broad commercial potential that will follow."

Aquarius Engines (TASE: AQUA) announced today that it entered into a memorandum of understanding with EnviroCharge, an American company that operates electric vehicle charging stations, to initiate a pilot with one of the largest car rental companies in the world. The pilot will start in 2025 and will integrate Aquarius's solution into the electric vehicle charging infrastructure for rental and fleet management companies. Additionally, the agreement presents potential for extensive orders for the years 2026-2027. The memorandum is valid for 18 months or until a final agreement is signed.

Contact: odedm@aquariusengines.com 

About Aquarius Engines

Aquarius Engines is an energy company specializing in developing and producing groundbreaking small generators for electricity production.

The company holds approximately 44 registered patents in the U.S. and other countries and around 43 additional patents currently in the registration process. Aquarius has been publicly traded on the Tel Aviv Stock Exchange since December 2020.

Aquarius's shareholders include major global players such as Tier-1 Japanese automotive companies, TPR (a leading piston manufacturer), MUSASHI (partially owned by Honda), and prominent institutional investors in Israel.

The Aquarius engine is a small, lightweight generator with only one moving part, offering exceptional power and efficiency. It stands as a highly competitive player with significant advantages in its field.

The company's initial target market is the telecommunications sector, where it collaborates with industry leaders such as Nokia to provide green backup power solutions for telecom towers. The core technology of Aquarius enables the use of a variety of fuels, including hydrogen, ethanol (E85), methanol, and LPG.

Aquarius plans to expand into additional markets, supplying its engines for truck power units, aviation, maritime, and defense propulsion solutions, as well as range extenders for the automotive industry.

Aquarius operates development and activity centers in Israel, Germany, and Poland.

 

Cision View original content:https://www.prnewswire.com/news-releases/aquarius-has-signed-a-memorandum-of-understanding-with-envirocharge-to-conduct-a-pilot-in-the-us-for-one-of-the-largest-car-rental-companies-in-the-world-in-exchange-for-150-000--302331388.html

SOURCE Aquarius Engines

FAQ

What is the value of Aquarius's pilot program with EnviroCharge?

The pilot program is valued at $150,000, which Aquarius will receive as payment for conducting the pilot.

When will AQUEF begin its pilot program with the car rental company?

The pilot program is scheduled to begin in 2025.

What is the duration of the memorandum of understanding for AQUEF's pilot program?

The memorandum of understanding is valid for 18 months or until a final agreement is signed.

What are the potential commercial opportunities for AQUEF following the pilot?

The agreement presents potential for extensive orders during the years 2026-2027, following successful pilot completion.

How many pilot programs has AQUEF conducted in the United States?

This marks Aquarius's fourth pilot program in the United States.

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