ZOOZ Power success of four ultra-fast EV charging sites that utilizes the ZOOZTER-100 product in Germany results in a new purchase order received by ZOOZ for a fifth site
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, un fornitore leader di soluzioni di gestione dell'energia basate su volani per la ricarica ultra-rapida di veicoli elettrici, sta vivendo una crescita significativa in Germania. Il prodotto ZOOZTER-100 è ora operativo in quattro siti, con un quinto sito confermato. Due siti a Herrenberg, gestiti da CPO Mer, stanno utilizzando con successo il ZOOZTER-100 da oltre un anno. Recentemente, due nuove installazioni a Reiskirchen e Weiterstadt, gestite da CPO Parkstrom, sono state attivate.
Il ZOOZTER-100 è un sistema di incremento energetico cinetico che consente una ricarica ultra-rapida continua senza costosi aggiornamenti alla rete elettrica. Immagazzina energia durante i periodi di inattività, la converte in energia cinetica e la restituisce alla rete quando necessario. Questa tecnologia ha aumentato la capacità energetica del 50-100% nei nuovi siti, migliorando l'utilizzo dell'infrastruttura di ricarica e creando nuove opportunità per gli Operatori di Punti di Ricarica di espandere le loro reti in modo conveniente.
ZOOZ Power, un proveedor líder de soluciones de gestión energética basadas en volantes para la carga ultra-rápida de vehículos eléctricos, está experimentando un crecimiento significativo en Alemania. El producto ZOOZTER-100 ya está operativo en cuatro sitios, con un quinto sitio confirmado. Dos sitios en Herrenberg, operados por CPO Mer, han estado utilizando con éxito el ZOOZTER-100 durante más de un año. Recientemente, se pusieron en marcha dos nuevas instalaciones en Reiskirchen y Weiterstadt, operadas por CPO Parkstrom.
El ZOOZTER-100 es un sistema potenciador de energía cinética que permite una carga ultra-rápida continua sin costosas actualizaciones de red. Almacena energía durante los períodos de inactividad, la convierte en energía cinética y la devuelve a la red cuando es necesario. Esta tecnología ha incrementado la capacidad de energía entre un 50 y un 100% en los nuevos sitios, mejorando la utilización de la infraestructura de carga y creando nuevas oportunidades para que los Operadores de Puntos de Carga expandan sus redes de manera rentable.
ZOOZ Power는 초고속 전기차 충전을 위한 플라이휠 기반의 전력 관리 솔루션을 제공하는 선도적인 기업으로 독일에서 상당한 성장을 경험하고 있습니다. ZOOZTER-100 제품은 현재 네 곳에서 운영 중이며, 다섯 번째 장소가 확인되었습니다. CPO Mer가 운영하는 Herrenberg의 두 곳은 ZOOZTER-100을 성공적으로 사용한 지 1년이 넘었습니다. 최근에는 CPO Parkstrom이 운영하는 Reiskirchen과 Weiterstadt에 있는 두 개의 새로운 설치가 가동되었습니다.
ZOOZTER-100은 비용이 많이 드는 그리드 업그레이드 없이도 지속적인 초고속 EV 충전을 가능하게 하는 운동 에너지 증강 시스템입니다. 이 시스템은 유휴 시간 동안 전력을 저장하고, 이를 운동 에너지로 변환한 다음 필요할 때 다시 그리드로 방출합니다. 이 기술은 새로운 사이트에서 전력 용량을 50-100% 증가시켜 충전 인프라 활용도를 높이고 충전소 운영자가 네트워크를 비용 효율적으로 확장할 수 있는 새로운 기회를 창출하고 있습니다.
ZOOZ Power, un fournisseur leader de solutions de gestion de l'énergie basées sur des volants d'inertie pour la recharge ultra-rapide des véhicules électriques, connaît une croissance significative en Allemagne. Le produit ZOOZTER-100 est désormais opérationnel sur quatre sites, avec un cinquième site confirmé. Deux sites à Herrenberg, gérés par CPO Mer, utilisent avec succès le ZOOZTER-100 depuis plus d'un an. Récemment, deux nouvelles installations à Reiskirchen et à Weiterstadt, gérées par CPO Parkstrom, ont été mises en service.
Le ZOOZTER-100 est un système de renforcement de puissance cinétique qui permet une recharge ultra-rapide continue sans coûteuses mises à jour du réseau. Il stocke l'énergie pendant les périodes d'inactivité, la convertit en énergie cinétique et la restitue au réseau lorsque cela est nécessaire. Cette technologie a augmenté la capacité énergétique de 50 à 100 % sur les nouveaux sites, améliorant l'utilisation de l'infrastructure de recharge et créant de nouvelles opportunités pour les opérateurs de points de recharge d'étendre leurs réseaux de manière rentable.
ZOOZ Power, ein führender Anbieter von schwebenden Energiemanagementlösungen für ultraschnelles Laden von Elektrofahrzeugen, verzeichnet ein erhebliches Wachstum in Deutschland. Das Produkt ZOOZTER-100 ist nun an vier Standorten im Einsatz, wobei ein fünfter Standort bestätigt wurde. Zwei Standorte in Herrenberg, die von CPO Mer betrieben werden, nutzen den ZOOZTER-100 seit über einem Jahr erfolgreich. Kürzlich wurden zwei neue Installationen in Reiskirchen und Weiterstadt, die von CPO Parkstrom betrieben werden, in Betrieb genommen.
Der ZOOZTER-100 ist ein kinetisches Energiesystem, das kontinuierliches ultraschnelles Laden von Elektrofahrzeugen ohne kostspielige Netzausbauarbeiten ermöglicht. Es speichert Energie während Leerlaufzeiten, wandelt sie in kinetische Energie um und gibt sie bei Bedarf zurück ins Netz. Diese Technologie hat die Leistungskapazität an den neuen Standorten um 50-100% erhöht, die Nutzung der Ladeinfrastruktur verbessert und neue Möglichkeiten für Ladepunktbetreiber geschaffen, ihre Netze kosteneffektiv zu erweitern.
- Successful operation of ZOOZTER-100 at four sites in Germany
- New purchase order received for a fifth site
- Increased power capacity by 50-100% at new installations
- Enables ultra-fast EV charging without costly grid upgrades
- Growing adoption in Europe's largest EV market
- None.
ZOOZ Power's success in Germany marks a significant milestone in the EV charging infrastructure landscape. The company's innovative ZOOZTER-100 flywheel-based power booster is proving to be a game-changer, addressing a critical bottleneck in the rapid expansion of ultra-fast EV charging networks.
The technology's ability to supplement grid power without costly upgrades is particularly noteworthy. By increasing charging capacity by
The strategic locations of the new installations along major highways and industrial areas demonstrate a savvy approach to market penetration. These high-traffic areas are likely to see increased utilization, potentially leading to faster ROI for CPOs and creating a virtuous cycle of adoption.
However, investors should note that while the German market shows promise, it's still early days. The true test will be in scaling this solution across diverse markets with varying grid infrastructures and regulatory environments. The company's ability to maintain performance and reliability as it scales will be important for long-term success.
From a financial perspective, ZOOZ Power's expansion in Germany is a positive indicator, but caution is warranted. While the company doesn't disclose specific financial figures in this announcement, the repeated orders and expansion to a fifth site suggest growing market traction.
Key financial considerations include:
- Revenue Growth Potential: The expansion from 4 to 5 sites indicates a
25% increase in deployed units in Germany. If this growth rate continues, it could translate into significant revenue expansion. - Market Validation: Repeat orders from existing customers (CPOs like Mer and Parkstrom) validate the product's value proposition and could lead to larger future contracts.
- Cost Efficiency: ZOOZ's solution allows CPOs to increase charging capacity without expensive grid upgrades, potentially improving their ROI and making ZOOZ an attractive partner for rapid expansion.
However, investors should be mindful of potential challenges:
- Capital Intensity: Manufacturing and deploying hardware solutions can be capital-intensive. ZOOZ's ability to scale production efficiently will be important for profitability.
- Competition: As the EV charging market grows, competition from both traditional and innovative solutions may intensify, potentially pressuring margins.
- Regulatory Risks: Changes in EV charging regulations or grid management policies could impact the adoption of ZOOZ's technology.
While the news is positive, a clearer picture of ZOOZ's financial health and growth trajectory will require more detailed financial disclosures in future reports.
- ZOOZ Power’s innovative flywheel based kinetic booster power management solution that enables ultra-fast multi-ports EV charging are now live at four sites in Germany, with a fifth coming soon.
- Using stored kinetic energy from its flywheels and its energy management software, ZOOZ Power supplements the grid power, maximizing charging infrastructure utilization.
- The ZOOZTER-100 products have been successfully operational at 2 sites in Herrenberg, operated by Charge Point Operator Mer for over a year.
- Two new installations in Reiskirchen and Weiterstadt, operated by CPO Parkstrom recently went live as well.
- Based on the success of the 4 existing sites, an order for a fifth ZOOZTER-100 was received by ZOOZ.
- These deployments highlight ZOOZ Power's capability to enable ultra-fast, multi-port EV charging and enhance site revenue for Charge Point Operators (CPOs), all without the need for costly grid upgrades.
Tel Aviv, July 30, 2024 (GLOBE NEWSWIRE) -- ZOOZ POWER Ltd. (NASDAQ and TASE: ZOOZ), the leading provider of flywheel-based boosters power management solution that enables ultra-fast multi-ports EV charging, is experiencing significant growth in Germany, due to the popularity of its ZOOZTER-100s at four sites, with a fifth one confirmed to open soon.
Two EV charging sites at Herrenberg, run by CPO Mer have each been operating successfully with a ZOOZTER-100 for over a year. This week installations at Reiskirchen and Weiterstadt both operated by CPO Parkstrom, also went live. ZOOZ’s fifth ZOOZTER-100 will soon be live, further expanding the company's footprint in the German market.
The ZOOZTER-100 is a kinetic power booster system that enables smooth, continuous ultra-fast electric vehicle (EV) charging without expensive grid upgrades. It stores power at idle times, converts it to kinetic energy and then flashes the converted energy back to the grid. This circumvents the need for immediate grid upgrades and enables ultra-fast charging when required.
The recently opened Reiskirchen and Weiterstadt sites are strategically located along the A5 Autobahn near Frankfurt. Each site features two ultra-fast chargers with a 150-kW capacity, supplemented by power from one ZOOZTER-100 unit.
The Reiskirchen installation, positioned near the intersection of major highways, has doubled its available power to 200 kW with the ZOOZTER-100. In Weiterstadt, located in a bustling industrial area south of Frankfurt Airport, the site's power capacity has increased by
Avi Cohen, Executive Chairman of ZOOZ Power said:
"The growing adoption of our ZOOZTER-100 power boosters across Germany is a testament to its effectiveness and the increasing demand for innovative flywheel-based EV charging solutions. With four operational sites and a fifth on the way, we're witnessing substantial momentum in Europe's largest EV market. Our solution is not only enhancing the charging experience for drivers but also creating new opportunities for Charge Point Operators to expand their networks cost-effectively."
As ZOOZ Power continues to expand its footprint in Germany, the company is not only enhancing the charging experience for EV drivers but also creating profitable opportunities for CPOs. This growth trajectory underscores ZOOZ Power's pivotal role in supporting the widespread adoption of electric vehicles and the development of robust charging infrastructure.
About ZOOZ Power
ZOOZ is the leading provider of Flywheel-based Power Boosting solutions enabling widespread deployment of ultra-fast charging infrastructure for electric vehicles (EV), while overcoming existing grid limitations.
ZOOZ pioneers its unique flywheel-based power boosting technology, enabling efficient utilization and power management of a power-limited grid at an EV charging site. Its Flywheel technology allows high-performance, reliable, and cost-effective ultra-fast charging infrastructure.
ZOOZ Power’s sustainable, power-boosting solutions are built with longevity and the environment in mind, helping its customers and partners accelerate the deployment of fast-charging infrastructure, thus facilitating improved utilization rates, better efficiency, greater flexibility, and faster revenues and profitability growth. ZOOZ is publicly traded on NASDAQ and TASE under the ticker ZOOZ
For more information, please visit: www.zoozpower.com/
Investor Contact:
Miri Segal – CEO
MS-IR LLC
msegal@ms-ir.com
Media enquiries:
Media@zoozpower.com
Forward-Looking Statement
This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations, and assumptions of ZOOZ Power. All statements other than statements of historical facts contained in this press release, including statements regarding ZOOZ Power, and any of ZOOZ Power’s strategy, future operations and statements related to the collaboration between ZOOZ Power and "ON” charging network (including any plans to implement ZOOZ Power’s solution and upgrade an additional site of “ON” on Route 6) are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause ZOOZ Power’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and other risks and uncertainties are more fully discussed in the “Risk Factors” section of ZOOZ’s most recent Annual Report on Form 20-F as filed with the U.S. Securities and Exchange Commission (“SEC”) as well as other documents that may be subsequently filed by the Company from time to time with the SEC. The words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements relating to the limited operating history and evolving business model that make it difficult for investors to evaluate ZOOZ Power’s business and future prospects, material weaknesses identified in ZOOZ Power’s internal control over financial reporting and the potential results of ZOOZ Power being unable to remediate these material weaknesses, or identify additional material weaknesses in the future or otherwise failure to maintain an effective system of internal control over financial reporting, ZOOZ Power’s management’s determination that substantial doubt exists about the continued existence of ZOOZ Power as a “going concern”, changes to fuel economy standards or changes to governments’ regulations and policies in relation to environment or the success of alternative fuels which may negatively impact the EVs market and thus the demand for ZOOZ Power’s products, delays in deployment of public ultra-fast charging infrastructure which may limit the need and urgency for ZOOZ Power’s products, the potential outcome of ZOOZ Power’s collaborations with third parties for installation of its flywheel-based power boosting solution, and conditions in Israel and in the Middle East, including the effect of the evolving nature of the ongoing “Swords of Iron” war, may adversely affect ZOOZ Power’s operations. These forward-looking statements are only estimations, and ZOOZ Power may not actually achieve the plans, intentions or expectations disclosed in any forward-looking statements, so you should not place undue reliance on any forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements made in this Press Release. Management of ZOOZ Power has based these forward-looking statements largely on current expectations and projections about future events and trends that such persons believe may affect ZOOZ Power’s business, financial condition and operating results. Forward-looking statements contained in this Press Release are made as of the date hereof, and none of ZOOZ Power or any of its representatives or any other person undertakes any duty to update such information except as may be expressly required under applicable law.
FAQ
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