- ADS-TEC Energy to invest $8 million dollars in sales,
warehousing, service and assembly facility, creating approximately
180 jobs
- Alabama Governor Kay Ivey supports ADS-TEC Energy and
facilitates grants
- ADS-TEC Energy will produce battery-backed ultra-fast
charging solutions for e-vehicles in the U.S. market
ADS-TEC Energy (NASDAQ: ADSE), a leader in battery-buffered,
ultra-fast-charging solutions, today announced it is establishing
its first dedicated facility in North America in Auburn, Ala.,
bringing together sales, warehousing, service and assembly in the
new location. The company expects its new site in the United States
to be fully functional by 2024, expanding ADS-TEC Energy’s
manufacturing to include both Germany and the U.S. ADS-TEC Energy
plans invest $8 million and create approximately 180 jobs in the
coming years associated with the new site, which will facilitate
the expansion of e-vehicle charging infrastructure in the U.S.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20221220005517/en/
ADS-TEC Energy, a leader in
battery-buffered, ultra-fast-charging solutions, today announced it
is establishing its first dedicated facility in North America in
Auburn, Ala., bringing together sales, warehousing, service and
assembly in the new location. (Photo: Business Wire)
“We’re excited to welcome yet another high-tech German company
to Alabama,” Governor Kay Ivey said. “The partnership between
German engineering and Alabama manufacturing has brought many
innovative products to the North American market. We’re excited to
add ADS-TEC Energy’s battery-buffered fast charging stations to
that list, serving the quickly growing electric vehicle
market.”
“The City of Auburn is grateful for the trust that Thomas
Speidel and his team have in our community, and we will do
everything we can to support ADS-TEC Energy in establishing a
successful operation in Auburn,” Mayor Ron Anders said. “The
assembling and servicing of innovative equipment for the emerging
electric charging infrastructure market right here in Auburn will
create well-paying and clean high-tech jobs for Auburn
residents.”
Auburn, Ala.– important business location in the U.S.
Auburn, Ala. is an important business location in the U.S. Among
others, companies from the aerospace sector are located there,
including Airbus and NASA. Automotive leader Mercedes-Benz has been
based in Auburn since 1993, followed by Honda, Hyundai and Toyota.
It is also home to many small- and mid-sized, technology-based,
value-added manufacturing companies in the automotive, distribution
and technology-based industries. Auburn University is a training
ground for talented professionals. The crew for NASA's current
Artemis I lunar mission includes numerous Auburn University alumni.
ADS-TEC intends to develop a cooperative program with Auburn
University, providing students and new graduates with positions in
production and management. It will also cooperate with
Alabama-based companies, wherever possible.
ADS-TEC Energy ultra-fast charging systems - powerful,
reliable and optimum TCO
With its ChargeBox and ChargePost systems, ADS-TEC has developed
powerful, reliable technologies with an optimal long-term total
cost of ownership (TCO). Both systems can be installed quickly and
easily—connected to the existing, limited-power electrical grid,
without requiring any expansion of the network—and offer the
industry’s highest rates of ultra-fast charging. The company's
latest ultra-fast charging solution, ChargePost, integrates two
charging dispensers that combine power electronics, battery storage
and air conditioning with up to two 75-inch displays in an
extremely powerful, compact and quiet "all-in-one" system.
ChargePost is available currently in Europe and will soon be
available in the U.S.
ADS-TEC Energy Founder and CEO Thomas Speidel said, "We are very
pleased to announce significant progress in the U.S. Having been
listed on NASDAQ for less than a year, we already have a successful
market presence in the Americas, and now are establishing a new
location for sales, warehousing, service and assembly of our
fast-charging systems in Auburn, supported by a strong economic
environment driven by innovation and growth. We are very grateful
for the intensive support of the local economic development agency
and the State of Alabama, especially Governor Kay Ivey, and the
open doors of the local decision-makers, who have given us
constructive support. ADS-TEC is 'Engineered in Germany,' and we
are proud to extend our quality products to the U.S.,” he
added.
ADS-TEC Energy's charging technology was nominated for the
German Future Prize in 2022 by the President of the Federal
Republic of Germany and elevated to the "circle of excellence.”
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. 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.adstec-energy.com
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
expectations with respect to future performance and the anticipated
timing of certain commercial activities, such as the Company’s
plans to invest $8 million and create about 180 jobs over the next
two years, the Company’s timeline for the Auburn technology site to
reach full capacity, the Company’s plans to make charging stations
available in each state in the U.S. and the availability of the
ChargePost in the U.S. in the future. 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 April 28, 2022, which is available on our website at
https://adstec-energy.com/corporate-governance/ 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221220005517/en/
Media:
For ADS-TEC Energy – Germany Dennis
Müller SVP Product Marketing & Communication
press@ads-tec-energy.com
For ADS-TEC Energy – US Barbara
Hagin Breakaway Communications +1 408-832-7626
bhagin@breakawaycom.com
Scott Gamm Strategy Voice Associates +1 917-626-9515
scott@strategyvoiceassociates.com
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