Sienna Resources

ADS-TEC Energy: Huge Triple-Digit Increase in Order Volume With Existing and New Partners – PowerGo Named as a New Strategic Partner for the Roll-Out of Fast-Charging Stations in Europe

31 October 2023
  • ADS-TEC Energy is announcing an order entry of more than EUR 100 million with new and existing partners
  • PowerGo has placed an order for its first 20 ChargeBox systems – predominantly for public charging stations, but also for fleet operators from the transport and logistics sectors
  • PowerGo plans to place further orders for fast charging systems from ADS-TEC Energy, with order volumes in the tens of millions

NÜRTINGEN, Germany / Oct 31, 2023 / Business Wire / ADS-TEC Energy (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, announced that it has already successfully secured over 100 million euros in new orders for fast-charging systems. These orders will be promptly fulfilled in 2023 and 2024. The agreements primarily encompass additional orders from existing successful partners of ADS-TEC Energy, but also significant new customer business.

One example is a new strategic partnership with Dutch full-service charging point operator PowerGo which initially plans to install 20 ChargeBox systems across Spain and the Netherlands. It also plans to implement a significantly larger number of additional ultra-fast charging systems in other European countries, including Germany and Denmark. More details in PowerGo’s press release on October 19, 2023.

“My team and I are thrilled to see such a huge increase in orders for our strong, storage-based platforms. We see this customer confidence as an endorsement of our strategic direction for the company. The basis for this is a clear vision, leading customers and partners, as well as a strong team that is determined to succeed. We have exactly that, as well as stable investors with a long-term commitment,” says Thomas Speidel, CEO of ADS-TEC Energy.

PowerGo plans to install ChargeBox systems in the Netherlands and Spain

PowerGo is a subsidiary of PowerField, which has established itself as a sustainable energy provider with the generation and storage of energy from solar parks in the Netherlands. PowerGo attaches particular importance to sustainability and aims to roll out and operate environmentally friendly charging solutions with the best service across the globe. The company has set itself the goal of becoming one of the largest charging station operators in Europe.

The first step in the collaboration with ADS-TEC Energy is the rapid installation of the first order of ChargeBox fast-charging systems in Spain and the Netherlands. They will be installed primarily in public spaces, for example in downtown areas, and will also be used by fleet operators in the transport and logistics sectors. All types of vehicles can be charged at each of the ChargeBox’s two high-performance charging columns, from cars and vans to trucks and buses. ADS-TEC Energy’s powerful and flexible charging solutions will benefit last-mile logistics in particular, largely because low power connections of less than 110 kVA at a charging location are sufficient to enable ultra-fast charging of up to 320 kW. This allows charging to a range of 100 km in just a few minutes almost anywhere, even with multi-shift operation of delivery vehicles.

The perfect solution to customer requirements

The Netherlands is one of the most advanced markets for electric vehicles in Europe and the existing power grid has already reached its maximum capacity in many areas. This means reliable battery storage-based solutions such as ChargeBox are in high demand as they can provide up to 320 kW of charging power when connected to the existing power-limited grid, without the need for costly grid expansion.

Great potential for strengthening the PowerGo partnership

Jean-Louis Bertholet, CEO of PowerGo, says of the partnership: “ADS-TEC Energy’s ultra-fast charging systems deliver impressive flexibility and speed in terms of their design, quality, and performance. This is exactly the kind of system we need to meet the ambitious demands of the market and the strong growth in e-mobility in countries with power-limited grids. This is why we are particularly pleased to be partnering with ADS-TEC Energy and look forward to a rapidly expanding, future-oriented collaboration.”

Thomas Speidel, CEO of ADS-TEC Energy, agrees: “A strategic partnership with an international company like PowerGo once again confirms how electric infrastructure can scale beyond known limitations. It demonstrates the urgent need to offer reliable, storage-based fast charging systems like ChargeBox and ChargePost. This is the only way the energy and mobility transition can be successful.”

Both partners see great potential for expanding the partnership in other European countries, such as Germany and Denmark.

About ADS-TEC Energy

ADS-TEC Energy plc, a public limited company incorporated in Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as a holding company for ads-tec Energy GmbH, our operating company incorporated in Germany (“ADSE GM”) and ads-tec Energy Inc., a US subsidiary of ads-tec Energy GmbH (“ADSE US” and together with ADS-TEC Energy and ADSE GM, “ADSE”). Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and manufactures battery storage solutions and fast charging systems including their energy management systems. Its battery-based, fast charging technology enables electric vehicles to ultrafast charge even on low powered grids and features a very compact design. It was most recently nominated by the President of the Federal Republic of Germany for the German Future Prize and elevated to the "Circle of Excellence" in 2022. The high quality and functionality of the battery systems are due to a particularly high depth of development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for automotive, OEMs, utility companies and charge-operators.

More information: https://www.ads-tec-energy.com/

About PowerGo

PowerGo is a subsidiary of PowerField, a Dutch company working toward a sustainable future through solar energy.

PowerGo facilitates electromobility through fast and sustainable charging. The fast-charging stations are powered by certified sustainable solar energy. In this way, PowerGo is not only making an important contribution to the European energy transition, but also to the development of a European fast charging network. PowerGo’s goal is to become one of the leading charge point operators (CPOs) in Europe.

www.powergo.energy

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding our financial outlook for 2023, our expectations with respect to future performance and the anticipated timing of certain commercial activities. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: the impact of the COVID-19 pandemic, geopolitical events including the Russian invasion of Ukraine, macroeconomic trends including changes in inflation or interest rates, or other events beyond our control on the overall economy, our business and those of our customers and suppliers, including due to supply chain disruptions and expense increases; our limited operating history as a public company; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales to a limited number of customers for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions and expense increases; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe and the U.S.; the effects of competition; changes to battery energy storage standards; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under “Item 3. Key Information – 3.D. Risk Factors” in our annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on May 11, 2023, which is available on our website at https://www.ads-tec-energy.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

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