Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced the introduction of Quasar 2, the latest generation of its bidirectional home charger designed specifically for the North American market. As well as enabling EV owners to charge and discharge their electric vehicle to power their home or the grid, Wallbox’s latest innovation is designed to give EV drivers the ability to isolate their home from the grid and use their EV for backup power during a blackout.
“Bidirectional charging opens up numerous opportunities for smarter energy management in the home,” said Enric Asunción, co-founder and CEO of Wallbox. “Quasar 2 represents a breakthrough in the evolution of home energy management. Not only does it allow us to rethink the way we produce, store and use energy on a day-to-day basis, but has the potential to give users the added power and comfort of being able to power their homes for over three days during a power outage.”
Mitigating the impact of energy disruptions
Quasar 2 retains the advanced features and functionality of its predecessor, Quasar, while offering blackout mode, a first-of-its-kind feature that allows EV owners to use their car as an emergency generator in instances of power outages.
With Blackout Mode, users are able to use their EV battery to power their home in the event of a power outage, even those caused by natural disasters. Quasar 2 seamlessly transitions a home to vehicle energy when the power goes out. Depending on the car and energy usage Quasar 2 is expected to be able to power a home for more than three days during a blackout based on an average household's critical consumption.
“The average American experienced more than eight hours of power interruption in 2020,” said Douglas Alfaro, General Manager of Wallbox North America. “Whether it’s caused by an earthquake, hurricane, wildfire or simply related to an overload on the power grid, a power outage can have a detrimental impact on homeowners that can last for hours or even days. With blackout mode, we are able to offer EV owners some relief by helping mitigate the impact of a major energy disruption in the home.”
Significant cost savings
Quasar 2 allows EV owners to save on home energy costs through vehicle-to-home (V2H) functionality. In states where power rates are related to demand, users can schedule charging sessions at times when rates are low and discharge their car to power their home when rates are high. Users who have solar panel installations can also store excess energy in their EV during low usage periods and then harness this energy at another time, including peak periods, to reduce their reliance on the grid.
Next-level performance and ease-of-use
Quasar 2 has been designed to be compatible with existing infrastructure in the U.S. to promote optimal efficiency. Providing up to 11.5kW/48Amp of power for charging and discharging, it is even more powerful than its predecessor. Quasar 2 offers CCS compatibility and connects to the myWallbox app through Wifi, Bluetooth, Ethernet, or 4G.
Through the use of an accessory, users can unlock Quasar 2’s additional functionality that allows users to isolate their homes from the grid and power a critical load to their home with energy from their EV. On average, an EV can power a critical load for a home in the U.S. for at least three days.
Wallbox’s advanced EV charging and energy management systems
Wallbox will also showcase its extensive line of hardware and software solutions for the home, business and public sectors at CES 2022, including:
Home charging solutions:
Public Charging Solutions:
Business Solutions:
CES 2022: Where to find Wallbox
Wallbox will demo Quasar 2 at CES Unveiled (Table #507) and during the Expo in the West Hall 6627 of the Las Vegas Convention Center.
The company has planned to ramp up its digital presence at the event to ensure that even those unable to attend in person will have visibility of the show. You will be able to see Wallbox’s product unveilings, a guided tour of their booth and more through their official Youtube channel, Linkedin, Twitter, Instagram, and their CES2022 landing page.
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 users' relationship to the grid. Wallbox goes beyond electric vehicle charging 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 80 countries.
Founded in 2015 and headquartered in Barcelona, the company now employs over 700 people in its offices in Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
Wallbox Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the features, expected production and effectiveness of Wallbox's products. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "may," "can," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "predict," "potential," "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’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, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electronic 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; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; and other important factors discussed under the caption "Risk Factors" in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at www.investors.wallbox.com.
These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in 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.
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