Charge Enterprises and GenZ Install First ADS-TEC Battery-Buffered ChargeBox at The Suburban Collection of Troy, Michigan
Charge Enterprises (NASDAQ:CRGE) collaborates with GenZ EV Solutions to launch its first ultra-fast ChargeBox (CBX) in Troy, Michigan. This technology harnesses 140kW/h of energy storage, enabling charging up to 320kW. It allows rapid charging with limited utility input, reducing both peak demand charges and infrastructure upgrades. The CBX can charge one EV at 320kW or two at 160kW simultaneously, providing a 100-mile range in less than ten minutes. This initiative aligns with sustainable practices in the EV sector, enhancing Charge's focus on innovative charging solutions.
- Installation of the first ultra-fast ChargeBox (CBX) enhances CRGE's technological offerings in the EV sector.
- The CBX can charge one vehicle at up to 320kW or two at up to 160kW, significantly improving charging efficiency.
- The technology reduces utility demand charges and avoids expensive upgrades, appealing to commercial properties.
- None.
NEW YORK, NY / ACCESSWIRE / December 1, 2022 / Charge Enterprises, Inc. (NASDAQ:CRGE) ("Charge" or the "Company"), a global business with the vision of connecting people everywhere with communications and electric vehicle ("EV") charging infrastructure, and GenZ EV Solutions, Inc. ("GenZ" ), announced today the installation of their first ultra-fast ChargeBox (CBX), powered by ADS-TEC Energy. The installation is at The Suburban Collection of Troy, Michigan ("Suburban Chrysler"), a Lithia Group Dealership.
This installation will provide The Suburban Collection with battery buffered, ultra-fast charging technology to support the growing demand for rapid EV charging solutions. The GenZ EV ChargeBox (CBX), powered by ADS-TEC, includes 140kW/h of integrated energy storage that supplies up to 320kW of energy from the existing infrastructure. For locations that have utility demand charges, the technology allows for ultra-fast charging with as little as 50kW of input power from the grid. This technology supports both the avoidance of expensive peak demand charges and the avoidance of expensive and time-consuming utility permitting and upgrades. The ChargeBox (CBX) charges one vehicle at up to 320kW, or two EVs at up to 160kW simultaneously, and supplies 100 miles charging range in less than ten minutes.
Distributed by GenZ, the ChargeBox (CBX) offers ultra-fast charging on existing, power-limited grids with minimal or no infrastructure or upgrades.
"We are excited to have Charge Enterprises as our preferred infrastructure provider for this dealer installation at The Suburban Collection. With Charge's dedicated engineering team and project management, we are confident in the delivery of exceptional service," said GenZ Solutions co-founder John Candillier "The ChargeBox (CBX) offers greater flexibility that can provide up to 100-mile range in less than ten minutes charge time and provides a sleek, compact, quiet charging solution for any commercial property."
Suburban chose the ChargeBox (CBX) because it delivers up to 320 kW charge to one EV or up to 160kW to two EV's simultaneously. This provides greater flexibility for the dealer to service and charge EV inventory with limited drain on dealer resources due to the fast-charging capabilities. In alignment with the GreenCars initiative, this installation supports dealer efforts to focus on sustainable vehicle education and reliable charging infrastructure.
"Charge is thrilled to be working on the frontlines with both GenZ and Suburban by installing technologically advanced EV charging solutions. While each has its competitive advantage, the ChargeBox (CBX) solution has exceptional integrated technology which couples well with level two charging portfolio products," said Mark LaNeve, President of Charge Enterprises. "It is Charge Enterprises' mission to work with innovative equipment providers that share the goal of supporting our dealer network and fleet operators as we enter into the next phase of this transformative EV revolution."
About Charge Enterprises, Inc.
Telecommunications
Our Telecommunications business ("Telecommunications") has provided routing of both voice, data and short message services ("SMS") to carriers and mobile network operators ("MNOs") globally for over two decades and is poised to selectively add products and services to this long-established business.
Infrastructure
Our Infrastructure business ("Infrastructure") has a primary focus on two fast growing sectors: broadband, including cell tower, small cell, and in-building applications, and electric vehicle ("EV") charging. Solutions for these two sectors include: design and engineering, equipment specification and sourcing, installation, data and software solutions, and service and maintenance.
To learn more about Charge, visit Charge Enterprises, Inc.
Notice Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect current expectations or beliefs regarding future events or Charge's future performance. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. All forward-looking statements, including those herein, are qualified by this cautionary statement.
Although Charge believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include the business plans and strategies of Charge, Charge's future business development, market acceptance of electric vehicles, Charge's ability to generate profits and positive cash flow, changes in government regulations and government incentives, subsidies, or other favorable government policies, and other risks discussed in Charge's filings with the U.S. Securities and Exchange Commission ("SEC"). Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release or as of the date or dates specified in such statements. For more information on us, investors are encouraged to review our public filings with the SEC which are available on the SEC's website at www.sec.gov. Charge disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Marketing:
Jeff Kuhlman (571) 246-3857
jkuhlman@charge.enterprises
Investor Relations:
Christine Cannella (954) 298-6518
Ccannella@charge.enterprises
Carolyn Capaccio, CFA (212) 838-3777
Ccapaccio@lhai.com
SOURCE: Charge Enterprises Inc.
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