Charging Robotics to Install its Wireless EV Charging System with a Leading Automatic Carpark Provider

Rhea-AI Summary

Fuel Doctor Inc. (OTC: FDOC) to Enter Definitive Agreement for Purchase of Wireless EV Charging Systems - Charging Robotics Ltd. Receives Letter of Intent from Israeli Car Park Provider

Positive

• Innovative wireless charging solution for electric vehicles in automatic car parks
• Seamless integration into existing infrastructure with minimal modifications
• Ultimate convenience for EV drivers with dedicated smart phone application for charging

Negative

• None.

Upon successful completion of this evaluation, the parties will enter into a definitive agreement for purchase of Wireless EV Charging Systems 

Tel Aviv, Israel, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Fuel Doctor Inc. (OTC: FDOC), a Delaware corporation, announced today that its wholly owned subsidiary, Charging Robotics Ltd., an innovator in wireless charging solutions, received a Letter of Intent from an automatic car park provider in Israel to evaluate Charging Robotic’s wireless charging system for electric vehicles in one of the car park provider’s automatic car parks.

The proposed wireless charging system is set to answer the unmet need of charging electric vehicles in automatic car parks. Automatic car parks are gaining popularity as they offer an ultra-compact way to park cars, thus fighting the rising costs of land. However, since these are “lights out facilities” with no human access, there is no way for the driver to connect a charging cable to the vehicle. This is a big problem in areas where electric vehicles are common and automatic car park providers are constantly looking for solutions to answer this need for their customers.

Besides enabling EV charging in automatic car parks, the system has numerous advantages, including: (i) Seamless Integration: The wireless charging system will be seamlessly integrated into the automatic car park infrastructure, requiring minimal modifications to the existing layout. This ensures a hassle-free installation process while maximizing parking capacity; (ii) Convenient Charging Experience: EV drivers will experience the ultimate convenience by initiating the system using a dedicated smart phone application, which will also be used for reporting about the charging process; and (iii) Scalability and Adaptability: The system’s modular design enables easy scalability, allowing the parking lot operator to increase the number of chargers in the facility based on the growing number of electric vehicles. The system will be able to charge all electric vehicles at efficiencies of >93% which is revolutionary for wireless charging systems.

"It is an exciting milestone for us in our path to commercialization. This collaboration is a testament to the confidence in our technology as well as a significant step towards making electric vehicle charging more accessible and efficient," said Hovav Gilan, CEO of Charging Robotics.

About Charging Robotics

Charging Robotics is developing various automatic wireless charging solutions such as robotic and stationary charging systems for electric vehicles. Once parked, the driver will initiate charging by use of a simple smartphone app and an autonomous robot will navigate under the vehicle and automatically charge it. Other systems offer solutions for automatic car parks allowing to charge with ease

For further information, visit: https://www.chargingrobotics.com/

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Fuel and its subsidiary Charging Robotics’ current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Fuel and its subsidiary Charging Robotics could differ materially from those described in or implied by the statements in this press release. For example, Fuel and its subsidiary, Charging Robotics, uses forward looking statements when describing the expected improvement in the Robotic Chargers.

The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed in any filings with the SEC. Except as otherwise required by law, Fuel and its subsidiary, Charging Robotics, undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Fuel and its subsidiary, Charging Robotics, is not responsible for the contents of third-party websites.

Investor Relations Contact:

Michal Efraty
Investor Relations, Israel
+972-(0)52-3044404
michal@efraty.com 

FAQ

What is Fuel Doctor Inc. (OTC: FDOC) announcing?

Fuel Doctor Inc. (OTC: FDOC) announced that its subsidiary, Charging Robotics Ltd., received a Letter of Intent from an automatic car park provider in Israel to evaluate its wireless charging system for electric vehicles in one of the car park provider's automatic car parks.

What are the advantages of the proposed wireless charging system?

The advantages include seamless integration into the automatic car park infrastructure with minimal modifications, maximizing parking capacity, and a convenient charging experience for EV drivers using a dedicated smart phone application.

Why is there a need for wireless charging systems in automatic car parks?

Automatic car parks are 'lights out facilities' with no human access, making it impossible for drivers to connect a charging cable to their electric vehicles. The proposed wireless charging system aims to address this unmet need for EV charging in automatic car parks.

How will the wireless charging system benefit automatic car park providers and EV drivers?

The system will enable automatic car park providers to offer EV charging solutions to their customers, addressing the rising demand for electric vehicle infrastructure. EV drivers will experience the ultimate convenience with seamless wireless charging initiated through a dedicated smart phone application.