Redefining Green Transportation: New Federal Bill Boosts Wireless EV Charging Program

Rhea-AI Summary

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.

Positive

• Growing support for Wireless EV Charging technology in the U.S.
• Introduction of a new federal grant program for Wireless EV Charging projects
• Electreon pioneering transformative technology to address obstacles hindering EV adoption
• Potential to revolutionize how EVs charge and enable widespread adoption of EVs
• Plans for significant Electrified Roads in France, Germany, and Sweden by 2030-2035

Negative

• None.

LOS ANGELES, Aug. 7, 2023 /PRNewswire/ -- Electreon (TASE: ELWS), a pioneer in the field of Wireless EV Charging roads, is pleased to report that state and federal policymakers across the U.S. are increasingly pressing forward to fund wireless Electric Road Systems (ERS) and incorporate this innovative technology into electrification strategies. This groundbreaking technology addresses the obstacles hindering EV adoption, notably eliminating range anxiety and reducing EV battery size, making it a key enabler for widespread EV usage.

• In July. Representative Haley Stevens (D-MI) introduced the Wireless Electric Vehicle Charging Grant Program Act of 2023, to expand Wireless EV Charging Programs at the federal level.

The new law would create a dedicated grant program in the U.S. Department of Transportation (DOT), providing funding for Wireless EV Charging projects. This includes $250 million in grants for Wireless EV Charging initiatives such as roads, parking lots, bus routes, airports, as well as coastal and inland ports. The Wireless EV Charging bill is rooted in the Michigan Department of Transportation's (MDOT) 2021-2022 pilot program that enabled the first public wireless EV charging road in the U.S. -  a pioneering project deploying Electreon's proprietary wireless charging technology, a collaborative endeavor between multiple stakeholders including Electreon, MDOT, Ford Motor Co., DTE Energy Co. OFME, Next Energy, Jacobs, Michigan Central, and the city of Detroit, among others. 

Representative Stevens' bill follows Assembly woman Pilar Schiavo's Electrified Roads, EV & Infrastructure legislation in the California State Assembly, and a 5-year partnership with MDOT to increase road deployment and develop best practices for wireless Electric Road Systems in Detroit. Representative Stevens' bill has already gained strong support from Michigan's Governor Whitmer, ASPIRE, CALSTART, and the American Association of Port Authorities (AAPA), among others.

Wireless EV Charging, and particularly wireless Electric Road technologies that can charge any moving vehicle, could be invaluable for convenient, accessible, and hands-free charging, while also lowering costs - as Wireless Charging reduces the need for large, heavy, and more polluting batteries while enabling extended driving range.

Electric Road technology, especially when coupled with on-site renewable energy sources, such as solar, can also significantly reduce pressure on the overextended national electric grid by spreading transport energy demand over space and time. The need for innovative technological solutions and political backing to decarbonize the global economy has never been more critical, and the empirical data is overwhelming; July was officially the planet's hottest month in 120,000 years. Greenhouse gas (GHG) emissions from transportation account for almost 30 percent of total U.S. greenhouse gas emissions and continue to increase faster than any other sector, year-by-year.   

"Dynamic Wireless Charging has tremendous potential in revolutionizing how EVs charge and can enable widespread adoption of EVs by addressing some of the biggest challenges associated with electrification," said Congresswoman Stevens. "...Investing in new EV technologies is crucial to enhancing America's global competitiveness."

On the other side of the Atlantic, governments are promoting Electric Roads with ambitious goals. By 2035, France plans to build nearly 6,000 miles of Electrified Roads, while Germany and Sweden have plans for around 2,500 miles and 1,200 miles respectively, by 2030. On the road to decarbonizing mobility, Wireless Charging is emerging as a game-changer, and Electreon stands at the forefront of this transformative technology.

About Electreon
Electreon is the leading developer and provider of Wireless Charging solutions for electric vehicles (EVs), providing end-to-end charging infrastructure and services, to meet the needs and efficiency demands of shared, public, and commercial fleet operators. The company's proprietary inductive technology charges EVs quickly and safely both while driving and parked, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs, making it one of the most environmentally sustainable, scalable, and compelling charging solutions available in the market today. Electreon collaborates with cities and fleet operators on a "sale" business model and on a Charging as a Service (CaaS) business model that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation.

Electreon operates 16 projects across 7 countries, together with more than 100 partners. Electreon's Wireless in-road Charging technology was named one of the world's top 100 inventions for 2021 by Time Magazine. For more information, visit electreon.com.

Photo - https://mma.prnewswire.com/media/2170575/Electreon.jpg
Logo - https://mma.prnewswire.com/media/1997596/Electreon_Logo.jpg

Press Contact Keren Alleson Gerberg
keren.a@electreon.com 

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SOURCE Electreon Wireless Ltd

FAQ

What is the new law introduced by Representative Haley Stevens (D-MI) related to Wireless EV Charging?

The new law 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.

What are the potential benefits of Wireless EV Charging technology?

Wireless EV Charging technology aims to revolutionize how EVs charge and enable widespread adoption of EVs by addressing obstacles hindering EV adoption, notably eliminating range anxiety and reducing EV battery size.

What are the plans of France, Germany, and Sweden related to Electrified Roads?

By 2035, France plans to build nearly 6,000 miles of Electrified Roads, while Germany and Sweden have plans for around 2,500 miles and 1,200 miles respectively, by 2030.