Wallbox’s Supernova 180 Receives North America Product Certification

Rhea-AI Summary

Wallbox (WBX) announced that its Supernova 180 has passed the UL 2202 certification for the American market, marking its readiness for North America. The DC fast charger is designed to support the needs of the North American market, offering up to 180 kW of charging power and the ability to charge two EVs concurrently. Wallbox has already sold almost 2,000 Supernovas worldwide and completed over 150,000 charging sessions since its launch last year. The company expects to begin the first deliveries of the product later this quarter.

Insights

Market Research Analyst

The certification of Wallbox's Supernova 180 for the North American market is a significant development for the company and the EV charging sector. The UL 2202 certification is a critical benchmark that assures customers and stakeholders of the safety and reliability of DC EV chargers. This certification could potentially lead to increased adoption rates of Wallbox chargers, as safety certifications are a vital consideration for consumers and businesses when selecting infrastructure for electric vehicles.

Additionally, the company's claim of selling almost 2,000 units and completing over 150,000 charging sessions globally indicates a strong track record, which could instill confidence in potential customers. The stated ability of the Supernova 180 to deliver 100 miles of range in under 10 minutes addresses a key consumer pain point—charging times—thus positioning the product competitively in the market. The modular design, which promises ease of installation and maintenance, could also lower the total cost of ownership and be a strong selling point.

From a market perspective, the backlog of orders from strategic partners is a positive indicator of demand and could reflect positively on Wallbox's revenue forecasts and stock performance in the short-term. Long-term implications include strengthening Wallbox's market position and brand reputation in the growing North American EV infrastructure space.

Financial Analyst

The announcement by Wallbox could have a notable impact on its financial positioning. The readiness of Supernova 180 for the North American market may lead to a significant expansion in Wallbox's addressable market, potentially increasing the company's revenue streams. The ability to charge two EVs concurrently and compatibility with all vehicle makes and charging standards could give Wallbox a competitive edge and may result in a higher market share.

Investors should note the potential for increased operational expenses associated with the launch and scaling of the Supernova 180 in North America. However, the innovative modular approach could mitigate some of these costs through improved reliability and reduced maintenance costs. The impact on the stock market will depend on Wallbox's ability to capitalize on this certification and convert the robust backlog into sustained sales growth.

It is also essential to consider the competitive landscape, as other players in the EV charging space may respond to Wallbox's advancements. The company's performance relative to its competitors could be a determining factor in the long-term value generation for shareholders.

Energy Sector Analyst

The UL 2202 certification of Wallbox's Supernova 180 highlights the company's commitment to safety and efficiency in the rapidly evolving EV charging industry. The energy sector is increasingly focused on the transition to renewable energy sources and electric mobility, making such certifications essential for consumer confidence and regulatory compliance.

The modular approach to the design of the Supernova 180 aligns with industry trends towards scalability and flexibility in energy solutions. This could facilitate the integration of EV charging stations in varied environments, which is crucial as the infrastructure for electric vehicles continues to expand. The ability to offer fast charging in locations with limited space and power supply could enable Wallbox to tap into previously inaccessible markets, broadening the scope of EV adoption.

Moreover, the interoperability with various vehicle models and charging standards is a strategic advantage in an industry where standardization is still evolving. Wallbox's approach could streamline the charging experience for consumers, potentially accelerating the transition to electric vehicles and boosting the company's long-term prospects in the energy sector.

BARCELONA, Spain--(BUSINESS WIRE)-- Wallbox, (NYSE:WBX) a global leader in electric Vehicle (“EV”) charging and energy management solutions, today announced that Supernova 180 has passed the UL 2202 product certification for the American market, with SGS North America Inc. marking the product’s readiness for the North American market. UL 2202 is the North America’s principal standard for safety of DC EV chargers and ensures the safe and efficient use of the device.

“We’re thrilled to have reached this milestone for Supernova 180 in just nine months, which is a testament to our in-house engineering expertise and our capacity for rapid innovation,” said Till Wilmschen, Wallbox’s Director of Fast Charging. “Passing the product portion of the UL 2202 certification process illustrates our commitment to meeting and exceeding industry standards and contributes to the overall evolution of EV charging technology in the industry. We have now sold almost 2,000 Supernovas worldwide and completed more than 150,000 charging sessions since launching last year. We are excited to bring this comprehensive international experience to North America with the Supernova 180 in the coming months”.

Supernova 180 has been tailored specifically to support the needs of the North American market. The DC fast charger was designed with an innovative modular approach to ensure optimal reliability and improve the cost and ease of installation and maintenance. Supernova will support up to 180 kW of charging power, meaning it can add 100 miles of range in under 10 minutes. Its reduced footprint opens up more sites to fast charging opportunities even in places with limited space and power such as gas stations, high-power charge hubs, car dealerships, and shopping malls. Supernova has the ability to charge two EVs concurrently with split-charge configurations, is interoperable with all vehicle makes, models, and charging standards including CCS and NACS, and offers limitless customizable branding options.

Wallbox has already constructed a robust backlog of orders for the new Supernova 180 from existing strategic partners and expects to begin the first deliveries of the product later this quarter.

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/20240117708069/en/

Wallbox PR Contact:

Elyce Behrsin

Global Head of Public Relations

elyce.behrsin@wallbox.com



Wallbox Investor Contact:

Matt Tractenberg

VP, Investor Relations

Matt.Tractenberg@wallbox.com

+1 404-574-1504

Source: Wallbox

FAQ

What certification did Supernova 180 pass for the American market?

Supernova 180 passed the UL 2202 certification for the American market, ensuring its readiness for North America.

How much charging power does Supernova 180 support?

Supernova 180 supports up to 180 kW of charging power, allowing it to add 100 miles of range in under 10 minutes.

How many Supernovas has Wallbox sold worldwide?

Wallbox has sold almost 2,000 Supernovas worldwide and completed over 150,000 charging sessions since its launch last year.

When does Wallbox expect to begin the first deliveries of Supernova 180?

Wallbox expects to begin the first deliveries of Supernova 180 later this quarter.