Additional purchase exceeding $30 million signals major commitment to the benefits of ADS-TEC Energy’s battery-buffered approach to high-speed charging in helping U.S. cities accelerate the transformation to a more sustainable model
NÜRTINGEN, Germany, Feb. 16, 2022 /PRNewswire/ — ADS-TEC Energy (NASDAQ:ADSE), a global leader in battery-buffered, ultra-fast charging technology, today announced that Smart City Capital will be deploying more than 200 ADS-TEC Energy ultra-high-speed ChargeBox electric vehicle (EV) charging stations throughout Florida. This is the single largest order of ADS-TEC Energy ChargeBox units to date in the U.S., and an extension of Smart City Capital’s initial order announced in late 2021. The company also plans a third phase of deployment that is expected to involve more than 200 ADS-TEC Energy charging systems across 13 states in the U.S.
Smart City Capital’s most recent purchase of more than $30 million in ADS-TEC Energy systems signals a major commitment to the benefits of ultra-high-speed charging, helping energy-deprived cities and remote locations accelerate the transformation to a more sustainable model. Together, the two companies will be using the 2022 Florida deployments, expected to begin mid-year, as a framework for the future rollouts in other states. The deployments – enabling public and private applications for both individual vehicles and fleets – will show how cities can more quickly reach their sustainability and carbon reduction goals without further burdening existing power-grids with costly electrical infrastructure upgrades. Deployments of the additional more than 200 ADS-TEC Energy charging systems are to take place starting in late 2022.
Smart City Capital chose to work with ADS-TEC Energy because of the capabilities and quality of the ChargeBox product combined with the company’s decade of experience in battery-buffered charging technologies. In fact, Smart City Capital has built a new division of its business – UltraSmart Charge – around its partnership with ADS-TEC Energy. This division will be part of the Smart City Capital Market Place, a platform for municipalities to shop for charging systems infrastructure targeting 15,000 municipalities across the U.S., Canada and U.K.
“No other vendor can match what ADS-TEC Energy is doing. They are the right partner, at the right time, with the industry’s most highly disruptive charging solution,” said Oscar Bode, CEO of Smart City Capital. “We’re proud to be bringing this first-of-its-kind ultra-high-speed charging to cities at a time when they need it to accelerate transformation and support sustainable economic growth.”
ADS-TEC Energy’s battery-buffered technology enables widespread, ultra-fast charging (up to 320 kW) on existing power-limited grids without additional infrastructure power upgrades. This allows for the introduction of ultra-fast charging to previously unaddressed geographies and segments such as city centers, remote and rural areas, helping to ensure more inclusive access to EV charging. ADS-TEC Energy chargers can be used to quickly charge municipal vehicles – a city bus, for example – without impacting power needs of critical services such as 911 first responder networks or street lighting.
“Smart City Capital is aggressively breaking down the significant barriers to cities of all sizes becoming smart cities. We’re thrilled to be partnering with them to deploy our high-speed, battery-buffered charging stations all across the United States, without requiring a major overhaul to the power grid,” said Thomas Speidel, CEO and founder of ADS-TEC Energy. “Together, we’ll be accelerating the transition to an all-electric world.”