ZOOZ Power Ltd. Ordinary Shares - ZOOZ STOCK NEWS

ZOOZ Power has entered into a Standby Equity Purchase Agreement (SEPA) with Yorkville Advisors Global's investment fund. The agreement allows ZOOZ to sell up to $12 million in ordinary shares over a two-year period at 97% of the Market Price. The company maintains discretionary control over the timing and volume of share issuances, with restrictions including a 4.99% ownership cap for Yorkville and a 19.99% limit on total shares issued within any 12-month period. The implementation requires SEC registration statement approval. This financing mechanism aims to support ZOOZ's growth strategy in the EV charging solutions market.

ZOOZ Power (NASDAQ and TASE: ZOOZ), a leader in Flywheel-based power boosting solutions for ultra-fast multi-port EV charging, has announced its participation in the LD Micro Main Event XVII in Los Angeles. CEO Erez Zimerman will present on Wednesday, October 30, 2024, at 8:30am PT / 11:30am ET.

The company's management will be available for one-on-one meetings during the event. Interested parties can schedule meetings through LD Micro or by contacting Miri Segal at msegal@ms-ir.com. The presentation will be streamed live and available for replay approximately 24 hours after its conclusion at https://me24.sequireevents.com/.

ZOOZ Power (NASDAQ and TASE: ZOOZ), a leader in Flywheel-based power boosting solutions for ultra-fast multi-port EV charging, has appointed Erez Zimerman as its new CEO, effective September 17th, 2024. Zimerman brings extensive experience in hardware, software, and chemistry, with a proven track record in company turnarounds, IPOs, and global sales scaling.

Previously, as CEO of Massivit 3D, Zimerman led a successful IPO, raising $52 million, and drove significant growth through product expansion and revenue increases. His career includes executive roles at major companies like HP and Stratasys, demonstrating versatility in leadership and strong execution skills.

ZOOZ Power (NASDAQ and TASE: ZOOZ), a provider of Flywheel-based power boosting solutions for ultra-fast EV charging, reported financial results for the six months ended June 30, 2024. Key highlights include:

- Successful completion of business combination and NASDAQ listing on April 4, 2024
- Enhanced sales and marketing efforts with a dedicated team for key markets
- Implemented a new version of ZOOZTER™-100 focusing on cost reduction
- Deployed solutions at two 'ON' charging sites in Israel
- Entered the UK market through collaboration with Osprey Charging
- Revenue of $543,000 for H1 2024
- Net loss of $5,237,000 or $0.59 per share
- Cash position of $11,228,000 as of June 30, 2024

ZOOZ expects to need additional funding in 2025 for continuing operations.

ZOOZ Power, a leading provider of flywheel-based power management solutions for ultra-fast EV charging, is experiencing significant growth in Germany. The company's ZOOZTER-100 product is now operational at four sites, with a fifth site confirmed. Two sites in Herrenberg, operated by CPO Mer, have been successfully using ZOOZTER-100 for over a year. Recently, two new installations in Reiskirchen and Weiterstadt, operated by CPO Parkstrom, went live.

The ZOOZTER-100 is a kinetic power booster system that enables continuous ultra-fast EV charging without expensive grid upgrades. It stores power during idle times, converts it to kinetic energy, and releases it back to the grid when needed. This technology has increased power capacity by 50-100% at the new sites, enhancing charging infrastructure utilization and creating new opportunities for Charge Point Operators to expand their networks cost-effectively.

ZOOZ Power (TASE and Nasdaq: ZOOZ), a leading provider of advanced Flywheel technology-based power management solutions for ultra-fast multi-port EV charging, has announced an investor update conference call. The ZOOM conference is scheduled for Thursday, August 1st, 2024, at 8:30 am ET (15:30 Israel time).

Avi Cohen, ZOOZ Chairman and Interim CEO, will participate in the call. The presentation slides used during the meeting will be filed with both the TASE and Nasdaq. Interested participants are required to register using the provided sign-up link, after which they will receive connection details for the conference.

ZOOZ Power has installed its flywheel-based power boosting and management solution at a second site on Route 6, the Cross-Israel Highway, in collaboration with Dor-Alon and AfconEV. This follows the first installation in May 2024. The two sites now offer more than double the ultrafast charging capacity without upgrading the grid. The new installations enable 4x 150kW chargers with a 300kW grid connection at one site and 3x 150kW with a 200kW grid at the other. This signifies the world's first use of flywheel technology in such settings, enhancing revenue opportunities for site owners and meeting increasing demand for ultra-fast EV charging.

Avi Cohen, Executive Chairman of ZOOZ Power, highlighted the importance of these advancements in providing ultra-fast charging services without massive grid investments, improving the driving experience for EV users along Israel's busiest routes.

ZOOZ Power announced a partnership with Dor-Alon and “ON” to enhance ultra-fast EV charging along Israel’s Route 6. The collaboration upgraded an existing charging site to accommodate four 150kW ultra-fast chargers, enabled by ZOOZ’s ZOOZTER™-100 Power Booster and proprietary Energy Management System. This development follows a successful pilot project and aims to improve EV driver experiences and support EV adoption. Another site on Route 6 is slated for upgrade in Q2 2024.

ZOOZ Power announced a significant leadership transition, effective June 1, 2024. Avi Cohen, the Executive Chairman, will assume the role of Interim CEO, succeeding Boaz Weizer. ZOOZ is actively seeking a permanent CEO to lead the company’s future growth. In the interim, Eyal Bloom, Chief Revenue Officer, will take on the role of Chief Business Officer overseeing sales, marketing, and customer service. Ruth Smadja, Chief Financial Officer, will also act as Chief Operating Officer, managing finance, operations, and R&D. Avi Cohen is a seasoned business leader with extensive executive experience in various sectors. He expressed his commitment to maintaining the company's innovation and growth in the EV charging market.