• Caverion and German company ADS-TEC Energy are expanding their cooperation to include Denmark and Sweden just a few weeks after signing an agreement for Norway.
• ADS-TEC Energy supplies battery-buffered fast charging solutions that enable ultra-fast charging with up to 320 kW on the limited grid, whether in the city or in the countryside.
• Existing charging points with low capacity can be easily replaced with a solution from ADS-TEC Energy and upgraded to high charging capacity.
• Caverion is the market leader for public charging stations in Norway, installing one in three fast charging stations in the country in 2023

ADS-TEC Energy (ADSE) and Caverion have signed a partnership agreement for the supply of battery-buffered fast charging solutions that enable ultra-fast charging of electric vehicles with up to 320 kW – without complicated and expensive grid expansion.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240620169180/en/

ADS-TEC Energy extends partnership with Caverion in Nordics (Graphic: Business Wire)

Caverion is the market leader for public charging stations in Norway. Last year, the company installed one in three fast charging stations in the country and has service contracts for around half of all chargers in operation.

The company's e-mobility team sees great opportunities in ADS-TEC Energy's solution. "The limited capacity of the power grid is an obstacle to the use of fast-charging stations in many places. With this solution, it is possible to set up ultra-fast charging,” says Ove Kjelby, Head of Sales e-mobility at Caverion.

With its integrated batteries, ADS-TEC Energy ChargeBox and ChargePost deliver fast charging whenever it is required. By using the existing grid infrastructure, ADS-TEC Energy’s chargers offer many times the charging capacity of the grid’s power connection, making it possible to charge EVs in minutes. Furthermore, these solutions are a cost-effective way to upgrade older, low-power AC charging stations. They also offer the flexibility of being positioned up to 300 meters away from the grid connection.

ADS-TEC Energy and Caverion have been working together in Norway since February 2024 and, based on this positive experience, the partnership is now being extended further in the Nordic region.

"ADS-TEC Energy's products and its innovative solution for ultra-fast charging in limited grids have opened the eyes of our colleagues in Sweden and Denmark, and we have therefore decided to expand the partnership sooner rather than later," added Kjelby.

Managing Director of ADS-TEC Energy, Thomas Speidel, is looking forward to a long-term partnership: "We see great potential in the cooperation with Caverion to offer fast, practical and high-quality services for customers and owners of charging stations in the Nordic region. This experienced and reliable company is the perfect partner because Caverion covers the entire spectrum of high-quality maintenance and services in the world's leading electromobility market."

More than 20 percent of vehicles on Norwegian roads are now electric cars. According to an estimate from 2022, the country will need between 6,000 and 10,000 fast charging points for electric cars by 2030. Fast charging solutions, such as those from ADS-TEC Energy, make a decisive contribution to achieving this goal because they can be installed quickly and without upgrading the power grid.

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: www.ads-tec-energy.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240620169180/en/