NÜRTINGEN, Germany, March 4, 2022 /PRNewswire/ — ADS-TEC Energy (NASDAQ: ADSE), a global leader in ultra-fast battery-buffered charging technology, today announced that GenZ EV Solutions (GenZ EV) has been appointed distributor of its vehicle electric (EV) charging solutions for the automotive market in North America and South America. GenZ EV, a new company founded by automotive industry veterans with deep expertise, will distribute ADS-TEC Energy charging technology to automotive OEMs, automotive dealerships and automotive fleet companies. There are over 18,000 car dealerships in the United States alone, representing a multi-billion dollar market opportunity.
“We are thrilled to partner with ADS-TEC Energy,” said José Valls, CEO of GenZ EV, who previously served as President of Nissan North America. “We evaluated many technology partner options and chose ADS-TEC Energy because of the company’s deep experience in battery technologies. Their industry-leading charging solution brings unique benefits to the automotive industry, such as ease of installation and the ability to draw power from existing low-power energy grids to provide constant, ultra-fast charging.”
ADS-TEC Energy’s buffer battery technology enables widespread ultra-fast charging (up to 320 kW) on existing power-limited networks without additional infrastructure power upgrades. This will allow automotive companies to quickly install EV chargers and bring the benefits of ultra-fast charging to their growing EV fleets and customers. It also enables the introduction of super-fast charging in places where it was previously unavailable, such as city centers and remote and rural areas.
“The GenZ EV team is the perfect distribution partner for our technology, bringing decades of automotive industry experience and established relationships,” said Gowton Achaibar, President and CEO of ADS-TEC Energy. . “Together, we will make it easier for customers to deploy ultra-fast on-premises charging, which will be a critical asset to their business, both in terms of cost and convenience, as EV inventories grow.”
GenZ EV, which officially launched as a company in late February, will offer ADS-TEC Energy’s charging systems along with a suite of premium services for automotive companies transitioning to eMobility.
About ADS-TEC Energy
ADS-TEC Energy Inc. is a US subsidiary of ADS-TEC Energy GmbH. ADS-TEC Energy GmbH is a subsidiary of ADS-TEC Energy, a listed company in Ireland and on the NASDAQ. ADS-TEC Energy draws on more than ten years of experience in lithium-ion technologies, storage solutions and fast charging systems, including the corresponding energy management systems. Its battery-based fast charging technology allows electric vehicles to charge very quickly even on low-power grids and features a very compact design. The high quality and functionality of the battery systems are due to a particularly high development depth and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for automotive, OEMs, utility companies and load operators.
More information at www.adstec-energy.com
About GenZ EV Solutions
GenZ EV Solutions, a private company based in Miami, was founded by a team of entrepreneurs at the crossroads of sustainable development, technology and finance. Inspired by Gen Z, the generation that sparked the inflection point in mass adoption of electric vehicles, its mandate is to provide Smart fast charging solutions to power the future of eMobility.
The company is focused on integrating the world’s best technologies, services and investment solutions to help businesses navigate the transition to the electrification era. ADS-TEC Energy’s world-class hardware is paired with a full suite of premium custom services, including up to 100% financing through Mitsubishi Capital. We have also partnered with Charge Enterprises to offer a full service platform spanning engineering, installation and aftermarket revenue generating solutions across all industries.
Like its namesake generation, the team behind GenZ are deeply committed to technology and the environment. Three percent of profits will be invested in reforestation efforts in the United States to be announced in late 2022.
GenZ EV Solutions is a GenZ Holdings company, which also owns Keyfetch, the technology and insurance company. To learn more about GenZ EV Solutions, visit genz.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including, but not limited to, statements regarding the business and business model proposed by ADS-TEC Energy PLC, the markets and industry in which ADS-TEC Energy PLC and its subsidiaries (collectively, the “ADSE Group”) intend to operate, the expected timing of commercialization and commencement of the Group’s activities ADSE and ADS-TEC Energy PLC board and management appointments.
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