Electreon Aligns with Jacobs to Grow U.S. Wireless EV Charging Infrastructure

Rhea-AI Summary

Electreon and Jacobs have announced a strategic collaboration to advance wireless charging solutions for electric vehicles (EVs) in the U.S. The partnership aims to implement wireless EV charging projects across various locations, enhancing Electreon’s presence in the U.S. market. Both companies are committed to innovative technology; Jacobs has recently acquired mobility analytics and edge computing firms to support this initiative. This partnership builds on prior successful projects, including a wireless charging pilot in Detroit, supported by multiple industry players.

Positive

• Strategic collaboration between Electreon and Jacobs enhances market presence in the U.S.
• Focus on advanced wireless charging technologies supports growth in EV infrastructure.
• Previous successful projects, including a dynamic wireless charging pilot in Detroit.

Negative

• None.

Electreon and Jacobs will collaborate to bring the future of EV charging to the U.S. and beyond.

BEIT YANAI, Israel & DALLAS--(BUSINESS WIRE)-- Electreon (TASE: ELWS.TA), the leading provider of wireless and in-road wireless electric vehicle (EV) charging technology, today announced a strategic collaboration with global technical professional services firm Jacobs (NYSE:J). The companies will join forces on select wireless EV charging projects across the United States, for industry leading fleet operators including city and state authorities, as Electreon aims to bring its cutting-edge charging solutions to roads and facilities around the world.

“This collaboration with Jacobs marks the beginning of an exciting new chapter as Electreon increases our presence across the United States,” said Oren Ezer, co-founder and CEO, Electreon. “Aligning ourselves with Jacobs allows Electreon to continuously realize opportunities for growth and expansion. We are looking forward to continued collaboration with the Jacobs team in Michigan and beyond!”

Jacobs has demonstrated its commitment to investing in leading-edge technologies. Most recently, Jacobs completed acquisitions of mobility analytics pioneer StreetLight Data Inc. and edge computing analytics provider BlackLynx, and entered into a strategic relationship with Microgrid Labs Inc, a software and consulting company specializing in planning commercial fleet electrification and microgrids.

“Continuing to collaborate with Electreon is exciting and directly supports Jacobs’ focus on instilling and sustaining innovation in our company culture and the solutions we provide,” said Jacobs Vice President and Global Transportation Market Director Patrick King. “Jacobs is committed to providing our transportation clients with access to innovative, technology-enabled solutions for the specific challenges they face – from congestion mitigation to carbon emission reduction, to full fleet electrification.”

This news is a continuation of a successful collaboration between Electreon and Jacobs in securing a project implementing the first public electric road system for wireless EV charging in the U.S. In February, Electreon announced it was awarded a Michigan Department of Transportation (MDOT) contract for a dynamic wireless charging pilot program in downtown Detroit—a project supported by Jacobs among many others such as Ford Motor Co., NextEnergy, and the City of Detroit. In keeping with

Jacobs’ commitment to support innovation aligned to its Beyond If accelerators, the company intends to invest in Electreon to demonstrate its commitment to the EV ecosystem.

To date, Electreon’s patented technology has been integrated with a wide range of vehicles, as part of its ongoing collaborations with auto manufacturers including Renault, Stellantis, Iveco, and Volkswagen. In November, Electreon’s wireless charging technology was named one of TIME’s 100 Best Inventions of 2021.

About Electreon

Electreon is the leading 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 and consumers. The company’s proprietary inductive technology dynamically (while in motion) and statically (while stopped) charges EVs quickly and safely, 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 today. Electreon works with cities and fleet operators on a charging as a service (CaaS) platform that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation. For more information, visit electreon.com.

About Jacobs

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery, and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $14 billion in revenue and a talent force of approximately 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," or "anticipates" or similar expressions which concern our strategy, expectations, plans, projections or intentions. Examples of forward-looking statements include, but are not limited to, statements regarding the expected benefits of the collaboration with Electreon. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, our ability to fully implement our strategy, competition from existing and future competitors in the our target markets, technological challenges relating to the development and manufacture of wireless charging solutions, the impact of the COVID-19 pandemic, including the emergence and spread of variants of COVID-19, and general economic conditions, including inflation and changes in interest rates. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, ,and Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q,, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220303005770/en/

Media:

Janine Ward

On behalf of Electreon

electreon@antennagroup.com

313-536-7806

Kerrie Sparks

Jacobs

214-583-8433

Source: Electreon

FAQ

What is the collaboration between Electreon and Jacobs about?

Electreon and Jacobs are collaborating to implement wireless electric vehicle (EV) charging projects across the U.S.

When was the collaboration between Electreon and Jacobs announced?

The strategic collaboration was announced in the press release dated March 3, 2022.

How does the partnership support EV infrastructure?

The partnership aims to leverage advanced wireless charging technologies to enhance EV infrastructure and support fleet operators.

What previous projects have Electreon and Jacobs worked on together?

They previously collaborated on securing a project for the first public electric road system for wireless EV charging in the U.S.

What recent acquisitions has Jacobs made to support this initiative?

Jacobs has recently acquired mobility analytics company StreetLight Data Inc. and edge computing provider BlackLynx.