ADS-TEC Energy GmbH (“ADS-TEC Energy” or “the Company”), a global leader in battery-buffered ultrafast charging technology, announced that Smart City Capital (“SCC”), a leading provider of technology turnkey solutions, master integration, and financing for the creation of smart and sustainable cities, has placed an initial order, effective November 19, 2021, for 20 ultrafast charging units to accelerate the transition of Miami Dade and overall Tri-County area into a renewable energy leader.
A Letter of Intent has also been signed for an additional 180 charging stations to be delivered in 2022.
The order is part of the partnership between ADS-TEC Energy and SCC that was announced on October 20, 2021. ADS-TEC Energy’s battery-buffered charging platforms, notably ChargeBox, enable higher charging speeds even on low-powered grids and in areas where it would not otherwise be practicable.
ADS-TEC Energy’s proprietary battery-buffer enables quick charge within minutes at speeds of up to 320 kW on existing, lower power grids, eliminating the need for expensive and time intensive power grid expansion.
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As evidenced at COP26, the world is calling for a rapid scale up of EV technologies. Together, ADS-TEC Energy and SCC are focused on delivering that to cities, which typically bear the brunt of climate commitments.
The delivery and installation of ADS-TEC charging technology platforms will help accomplish near-term EV mobility goals and provide drivers in the Tri-County area access to ultrafast charging at convenient locations, including downtown Miami, Miami Gardens, Wynwood and Coral Gables.
Thomas Speidel, CEO and Founder of ADS-TEC Energy.
Our battery-buffered technology brings ultrafast charging speeds to urban areas, and we are pleased to be a leading provider of EV charging infrastructure for SCC.
“This partnership showcases the attraction of our charging systems and the increased efficiency, operating costs, and customer satisfaction that smart cities can deliver. We look forward to deploying ADS-TEC Energy charging units across Southeast Florida as we continue to expand our reach in the US and help cities and municipalities transition to a renewable economy.”
Oscar Bode, CEO of Smart City Capital.
SCC is pleased to solidify its business relationship with ADS-TEC Energy with this initial order of charging units that will bring ultrafast charging speeds across the Tri-County area.
“The ADS-TEC Energy chargers will enable public and private applications at the individual and fleet level use cases, and we look forward to expanding this approach and solution beyond South Florida, and believe it will be effectively replicable across North America.”
As outlined in the October 20 announcement, SCC and ADS-TEC Energy have partnered to create one of the most comprehensive smart cities in the U.S. in the tri-county area (Dade, Broward and Palm Beach).
The partnership approach includes unique financing elements that tap into federal, state and local subsidies and the benefits of bundling multiple services, such as EV charging together with broadband services, with the aim of reducing operating costs such as fuel and maintenance, combined with more efficient infrastructure upgrades and new revenue opportunities with EV charging.
The initiative aims to create a comprehensive and affordable solution that will provide a framework for future rollouts and is attractive for cities to more quickly reach their sustainability and carbon reduction goals, and accelerate climate action, while reducing financing burdens.
This initial order accelerates the execution and expansion of ADS-TEC Energy’s operations and deployment in the US.
Accordingly, while there can be no assurances, the Company expects the partnership with SCC to have a material, positive impact on the Company’s 2022 performance, as it was not initially accounted for in the business plan presented in June of this year.
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ADS-TEC Energy GmbH, a Leading Battery-Buffered Charging Company, Announces Initial Order from Smart City Capital for Ultra-fast Charging Units in Miami Dade County, NĂśRTINGEN, Germany and FORT LAUDERDALE, Fla., November 10, 2021
