ELECTREON WIRELESS LTD - ELWSF STOCK NEWS

Electreon (ELWS) has been selected by SAE International's Wireless Power Transfer & Alignment Taskforce for the global SAE J2954 standard, establishing their Differential Inductive Positioning System (DIPS) as the industry's wireless charging alignment methodology. This standardized inductive charging technology promises a seamless, automated charging experience to greatly accelerate mass EV adoption. The new standard, scheduled to be published in 2024, will include specifications for fine alignment, pairing/authentication, and alignment checks between the in-road coil and receiver. Operational projects in Germany, Italy, Sweden, Israel, and the U.S. have demonstrated multiple vehicles charging both dynamically as they drive over the electrified road, and while parked. The decision of SAE in favor of Electreon's technology confirms their technical expertise at the highest global standard and will enable them to drive full-steam ahead with their automotive partnership integration strategies.

Electreon (TASE: ELWS) announces entry into Chinese market through partnership with Shandong Innovation and Entrepreneurship Community for International Science and Technology Cooperation (SITEC). Phase one includes debut of wireless charging technologies at Jinan Shandong Hi-Speed industrial park and integration with Zhongtong Bus vehicles. Subsequent phases involve deployment of dynamic charging system, stationary charging stations, and technology integration with Sinotruk vehicles. Collaboration aims to expand electric fleet operator clients and meet growing market demand. Entry into China enables ramping up of mass manufacturing and production capacities. Shandong province offers strategic market entry point with robust economy. Partnership with SITEC, supported by SDHS, a Fortune 500 state-owned company, provides essential support. Collaboration aims to revolutionize EV charging infrastructure in China.

Electreon (TASE: ELWS) Reports Growing Support for Wireless EV Charging Technology in the U.S., Introducing New Federal Grant Program. The company is at the forefront of the transformative technology that addresses obstacles hindering EV adoption, aiming to revolutionize how EVs charge and enable widespread adoption of EVs. The new law introduced by Representative Haley Stevens (D-MI) would create a dedicated grant program in the U.S. Department of Transportation, providing funding for Wireless EV Charging projects, including $250 million in grants for initiatives such as roads, parking lots, bus routes, airports, and ports.

Electreon (TASE: ELWS) has announced the successful operation of an electric bus charged via its wireless electric road system in Tel Aviv. This pilot, conducted in partnership with local authorities and funded by the Israel Innovation Authority, demonstrates the company's innovative technology, which allows for charging while driving and reduces battery size requirements.

The project involves a 700-meter electrified road section and aims to eventually support the entire Tel Aviv bus fleet, promoting environmental sustainability and cost-effective electrification.

ElectReon (TASE: ELWS) has been selected to provide its Wireless Electric Road Systems technology for the eCharge project, funded by the German Federal Government with €1.9 million. This collaboration includes major partners like Volkswagen and Eurovia, aiming to develop efficient inductive charging solutions for electric vehicles while driving. ElectReon will also establish a subsidiary in Germany, led by Dr. Andreas Wendt, to enhance its presence in the growing German market for wireless charging technology.