Wallbox Becomes Signatory to U.S. Department of Energy’s Vehicle to Everything Memorandum of Understanding, Joins Industry Push for V2X Technology Integration

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Wallbox (NYSE:WBX), a leading provider of electric vehicle (“EV”) charging and energy management solutions worldwide, today announced that it was selected to join the United States Department of Energy’s Vehicle-to-Everything (“V2X”) Memorandum of Understanding in its latest round of signatories.

Wallbox joins other industry leaders in signing the MOU, a first-of-its-kind collaborative in the United States that brings together cutting-edge resources from the DOE, DOE national labs, state and local governments, utilities and private entities to evaluate and accelerate technical and economic feasibility of vehicle-grid integration (VGI), including bidirectional charging, into energy infrastructure. The MOU will also advance cybersecurity as a core component of V2X charging infrastructure.

"As a global leader in bidirectional EV charging, Wallbox is proud to join the U.S. Department of Energy 's V2X collaborative alongside industry leaders to help accelerate development and deployment of the technology,” said Enric Asunción, CEO of Wallbox. “V2X charging has the potential to enable a new energy paradigm by offering cost savings for everyday customers, facilitating the adoption of electric vehicles, and helping build the infrastructure required for a climate resilient future.”

“Bidirectional EV charging will play an increasingly important role in supporting the electrical grid and improving the country’s energy security and resilience in coming years,” said Rima Oueid, DOE’s V2X MOU lead and senior commercialization executive at the Office of Technology Transitions (OTT). “We are excited to continue expansion of the collaborative with more participants that are committed to demonstrating the momentum and successfully scaling the deployment of V2X technologies to support our energy infrastructure.”

An early mover in the field of bidirectional charging, Wallbox will leverage its technical expertise and resources to actively address barriers and expedite the commercialization of technologies. Wallbox has a track record of leadership in V2X and bidirectional charging. Wallbox has been recognised for its innovations in the area by the likes of TIME Magazine, Fast Company, TechCrunch and Reuters. The company has also been selected for a number of current and upcoming V2X programs including the Octopus Energy Powerloop program, and a V2X research project funded by the Department for Energy Security and Net Zero (DESNZ) in the UK. Most recently the company offered live demonstrations of V2X using the latest generation of its bidirectional charger, Quasar 2, at the world’s largest clean energy event, The Smarter E Europe.

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 115 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the private placement. The words “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “”target,” will,” “would” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; as well as the other important factors discussed and incorporated by reference under the heading “Risk Factors” in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022, and as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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Wallbox PR:

Elyce Behrsin

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Source: Wallbox