Wallbox DC Fast Charger, Supernova Passes Germany’s Eichrecht Certification

Rhea-AI Summary

Wallbox (NYSE: WBX) announced that its Supernova DC fast charger has received Germany's Eichrecht certification, marking a significant expansion into DC fast charging in one of Europe's largest EV markets. The certification is essential for selling chargers in Germany's public segment and opens opportunities across the DACH region. According to Rho Motion, Germany will have over 22,000 DC fast chargers by year-end, with projections of 150,000 additional units in the next decade - a 680% growth. Supernova becomes Wallbox's third product and first fast charger to achieve Eichrecht compliance, which ensures accuracy in energy measurement and billing for public charging infrastructure.

Positive

• Obtained important Eichrecht certification for German market entry
• Expands market access to DACH region (Germany, Austria, Switzerland)
• Enters market projected to add 150,000 DC fast chargers in next decade

Negative

• None.

Insights

Market Research Analyst

The Eichrecht certification for Supernova DC fast charger represents a significant market opportunity for Wallbox in the DACH region. With Germany projected to add 150,000 DC fast chargers in the next decade, representing a 680% growth, this certification positions Wallbox to capture a share of this expanding market. The certification's reputation for accuracy and reliability makes it a preferred standard even in regions where it's not mandatory, potentially expanding Wallbox's addressable market beyond Germany.

The timing is strategic as Germany currently leads Europe's EV charging market with 22,000 DC fast chargers expected by year-end. This certification removes a important barrier to entry in the German public charging segment and could accelerate Wallbox's revenue growth in the region. However, investors should note that while this certification enables market access, success will depend on competitive factors including pricing, distribution and market penetration strategy against established players.

BARCELONA, Spain--(BUSINESS WIRE)-- Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging solutions, today announced that its Supernova DC fast charger was successfully certified for conformity according to Germany's Eichrecht regulation. Receiving the Eichrecht certification marks a significant step towards Wallbox’s expansion into DC fast charging in one of Europe’s largest EV markets, and the launch of Wallbox’s highest Power-to-Footprint ratio charger yet.

Wallbox DC fast charger, Supernova Passes Germany’s Eichrecht Certification (Photo: Business Wire)

The Eichrecht certification is crucial for any company looking to sell chargers designed for the public segment in Germany. The certification opens other commercial opportunities to the company across the DACH region (Germany, Austria, and Switzerland) where customers often opt to invest in Eichrecht-certified chargers, even where they’re not strictly mandatory. This is due in part to the certification's reputation for ensuring accuracy and reliability and in part to future proof infrastructure.

According to Rho Motion, Germany, Europe’s largest market for EV charging in Europe, will have over 22,000 DC fast chargers on the market by the end of this year. Rho Motion projects that there will be 150,000 further DC fast chargers sold in the country within the next ten years - a growth of over 680%.

"With Germany's expansion of EV infrastructure, dependable fast-charging solutions such as Supernova will be crucial to support the rising demand for quick and efficient charging options," said Enric Asunción, CEO of Wallbox. "Supernova’s Eichrecht certification in Germany underscores the advanced technology and precision engineering behind our DC fast charger and will open doors for Wallbox in Germany and the broader DACH region.”

The Eichrecht certification is a multistage process for all public EV chargers in Germany that bill users for the energy dispensed. The certification ensures accuracy in energy measurement and billing, providing consumers with transparency and trust in public charging infrastructure. The certification of Supernova represents a significant milestone for Wallbox, as it becomes the third product in the portfolio to achieve Eichrecht compliance and the first fast charger to receive this certification.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241121186368/en/

Wallbox Media Contact:

Elyce Behrsin

Head of Public Relations

elyce.behrsin@wallbox.com

Source: Wallbox

FAQ

What certification did Wallbox (WBX) Supernova DC fast charger receive in 2024?

Wallbox's Supernova DC fast charger received Germany's Eichrecht certification, which is important for selling chargers in the public segment in Germany.

How many DC fast chargers will Germany have by the end of 2024?

According to Rho Motion, Germany will have over 22,000 DC fast chargers by the end of the year.

What is the projected growth of DC fast chargers in Germany for Wallbox (WBX)?

Rho Motion projects 150,000 additional DC fast chargers will be sold in Germany within the next ten years, representing a growth of over 680%.