Ozop Energy OZSC Begins Rollout of NeoGrid Modular EV Charging Network with $600,000 Order for 10 Charging Stations in Brooklyn, NY

Rhea-AI Summary

Ozop Energy Solutions has announced a significant increase in their order for electric vehicle charging stations from Bical Auto Mall, expanding from four to ten units. This initial order, valued at $600,000, represents a response to a surge in demand. Additionally, there's a pending order for six rapid chargers that could add $409,000 to sales. The initiative aims to develop a regional NeoGrid Modular Network to modernize energy supply for EVs.

Positive

• Increased order for electric vehicle charging stations from 4 to 10 due to demand.
• Initial order value at $600,000, highlighting strong market interest.
• Pending order for 6 rapid chargers could add $409,000 to revenue.

Negative

• None.

Bical Auto Mall increased Initial February Order from Four Charging Stations to 10 After Noting Surge in Demand

WARWICK, NY, May 21, 2021 (GLOBE NEWSWIRE) -- Ozop Energy Solutions. (OZSC), (“Ozop” or the “Company”), today announced an order for 10 electric vehicle charging stations to be installed in Bical Auto Mall dealerships in Brooklyn, NY, marking the first step in developing a regional NeoGrid Modular Network (patent pending) that will spark a new generation of electrical supply, storage & distribution.

The initial $80,000 order Bical placed in February through wholly owned subsidiary Ozop Energy Systems, Inc. (OES) and INF Associates, a multi-state energy efficiency and EV support company, called for four (4) dual port Level II Enel X Juice Pedestal chargers to be delivered and installed at two Bical locations. After further surveying the property and accounting for growing demand over the past three months, the order was increased almost eight-fold, resulting in the current order for 10 units at a pre-incentive cost of $600,000.

An order for an additional six (6) Level III rapid chargers, which could increase the sale by another $409,000 before rebates are applied, is pending approval from Con Edison.

“This announcement is not just about an order for individual charging stations,” said Brian Conway, CEO of Ozop Energy Systems. “This puts in motion our plan to eliminate the municipal grid or keep it as a luxury supplier instead of a necessary supplier of energy for electric vehicles.”

“As these systems are deployed,” he added, “we are increasing our network which, modular by design, can be deployed in days not months or even years in many urban areas, and we plan to expand to other markets in the near future.”

For more information on OZSC please follow on the link, www.OzopEnergy.com

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About Ozop Energy Solutions.

Ozop Energy Solutions (http://ozopenergy.com/) invents, designs, develops, manufactures, and distributes ultra-high-power chargers, inverters, and power supplies for a wide variety of applications in the defense, heavy industrial, aircraft ground support, maritime and other sectors. Our strategy focuses on capturing a significant share of the rapidly growing renewable energy market as a provider of assets and infrastructure needed to store energy.

About Power Conversion Technologies, Inc.

Power Conversion Technologies, Inc. (www.pcti.com) invents, designs, develops, manufactures, and distributes standard and custom power electronic solutions. Founded in 1991 and located in East Butler, Pennsylvania, the Company’s mission is to be the global leader for high power electronics with a standard of continued innovation.

About Ozop Energy Systems, Inc.
Ozop Energy Systems is a leading Manufacturer and distributor of Renewable Energy products in the Energy Storage, Solar, Microgrids, and EV charging Station space. We are always among the first to receive the newest technology, products, and application techniques. We offer a broad portfolio of Renewable Energy products at competitive prices with a commitment to customer satisfaction from selection, to ordering, shipping, and delivery.

Safe Harbor Statement

“This press release contains or may contain, among other things, certain forward-looking statements. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the company’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the company’s control). The company undertakes no obligation to publicly update any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.”

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Media Relations Contact

Brian Hyland
Rubenstein Public Relations
212-805-3055
bhyland@rubensteinpr.com

Investor Relations Contact

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FAQ

What recent order did Ozop Energy Solutions announce regarding electric vehicle charging stations?

Ozop Energy Solutions announced an increased order from Bical Auto Mall for 10 electric vehicle charging stations, up from 4.

How much is Ozop's initial order for charging stations worth?

The initial order for the 10 charging stations is valued at $600,000.

What potential additional revenue could Ozop generate from the pending rapid charger order?

The pending order for 6 rapid chargers could generate an additional $409,000 in revenue.

What is the purpose of the NeoGrid Modular Network mentioned in the press release?

The NeoGrid Modular Network aims to modernize the electrical supply, storage, and distribution for electric vehicles.

When was the initial order for charging stations placed by Bical Auto Mall?

The initial order of four charging stations was placed in February.