Dutch GP Groot signs distributor contract with ADS-TEC Energy for ultra-fast battery charging solutions.
ADS-TEC Energy GmbH (“ADS-TEC Energy” or “the Company”), a global leader in battery-buffered ultrafast charging technology, and GP Groot, a Dutch wholesaler of fuels, gas and lubricants, operator of filling stations and provider of fuel card services sign a distributor contract for the Netherlands for the ultra-fast charging solutions of ADS-TEC Energy.
The ultra-fast chargers are equipped with a booster battery that allows up to 320 kW ultra-fast charging even when connected to a power limited grid. The roll-out of ultra-fast charging is expected to address the growing problem of limited grid capacity.
ADS-TEC Energy is currently in a business combination process with publicly listed European Sustainable Growth Acquisition Corp. (NASDAQ: EUSG), expected to close 4Q 2021, at which time the combined company is expected to trade on Nasdaq (NASDAQ: ADSE).
The number of electric passenger cars is expected to grow enormously in the coming years. For the EV revolution to be successful, this growth requires a corresponding increase in the number of available charging points.
According to the Netherlands Enterprise Agency (RVO.nl), there are now some 202,000 private and 83,000 public charging points for electric cars in the Netherlands of which 1,250 with more than 100 kW.
In nine years’ time, in line with governmental plans, this should be increased to 1.7 million. Despite the fact that the demand for electricity will grow considerably in the coming years, the Dutch electricity network has already reached maximum capacity in many places. This is becoming an increasing limitation for the scale up of EV charging.
The ADS-TEC Energy ultra-fast charging system enables ultra fast charging of 320 kW or 2 x 160 kW, even with a limited input power. This provides 200 kilometers of range within 10 minutes.
Pieter Talsma, Director of GP Groot brandstoffen en oliehandel, of which NXT Mobility is part.
With a view to the increasing electrification of the vehicle fleet, we are going to provide our own gas station network with fast chargers.
“The first inventory showed that in many locations the capacity of the electricity grid is too limited to install fast chargers. The shortage on the power grid will only increase in the coming years. We even receive letters from the grid operator stating that it is not possible to upgrade the existing power connections in the coming years.”
“This stops the much-needed expansion of fast charging capacity and slows down the energy transition. We looked for a solution and found it in the innovative ultra-fast charging systems from ADS-TEC Energy.”
GP Groot has been appointed by ADS-TEC Energy as the Dutch distributor of its ultra-fast charging systems. GP Groot is aiming to sell and deploy at least 50 of ADS-TEC Energy’s ChargeBoxes in the Netherlands during the first year of the cooperation.
Thomas Speidel, CEO and Founder of ADS-TEC Energy:
The Netherlands is one of the most densely populated countries in Europe and a country with rapidly growing electric mobility.
“This leads to a corresponding need for fast charging solutions throughout the country, not just at central fast charging hubs.Our technology ensures ultra-high charging speeds in places where there is insufficient grid capacity, so it fits perfectly with the Dutch situation, which is also typical in many countries and cities.”
GP Groot offers the ADS-TEC Energy ultra-fast charging systems through its subsidiary
NXT Mobility, which focuses on enabling sustainable mobility. NXT Mobility will focus on the sale of ADS-TEC Energy ultra-fast charging systems to, among others, gas stations, transport and taxi companies, operators of fast charging networks and utility companies.
Erik Metselaar, Business Manager of NXT Mobility:
We believe that with the ADS-TEC Energy ultra-fast charging systems we can start to address the growing problem of limited grid capacity.
“Advanced battery technology enables the system to generate five times more power than the grid supplies. It charges like a power bank at low power and then transfers the stored energy ultra-fast and up to 320 kW to electric vehicles.”
“The system is very compact and has enough capacity to provide ultra-fast charging throughout the day in even the busiest locations. In addition, the systems are competitive with conventional fast chargers in terms of total lifetime costs and can even be significantly cheaper to operate.”
The first Dutch ADS-TEC Energy ultra-fast charging system will soon be put into service at one of the NXT Mobility filling stations.
On August 11, 2021, ADS-TEC Energy and European Sustainable Growth Acquisition Corp. (NASDAQ: EUSG) (“EUSG”), a publicly traded special purpose acquisition company focused on identifying Europe-based, high growth, technology-enabled businesses that utilize green technologies, entered into a definitive agreement relating to a business combination that would result in ADS-TEC Energy becoming a public company upon the closing of the transaction.
ADS-TEC Energy also announced its intention to list on the Nasdaq Capital Market (“Nasdaq”) upon the closing of the business combination. The combined company will be called ADS-TEC Energy plc and its ordinary shares and warrants are expected to list on Nasdaq under the new ticker symbols “ADSE” and “ADSEW”, respectively.
In connection with the business combination, EUSG secured commitments of a fully subscribed $156 million Private Investment in Public Equity (“PIPE”) at $10 per share, that is anticipated to close one business day prior to the business combination.
About NXT Mobility
NXT Mobility is part of GP Groot group. Climate change and concerns about air quality make it increasingly clear that we need to change the way we live and do business. NXT Mobility is the full service, one-stop concept for sustainable mobility. NXT offers charging solutions for electric vehicles, less environmentally and climate-damaging fuels and operates NXT Energy Hubs, the filling stations of the future.
About GP Groot brandstoffen en oliehandel
GP Groot brandstoffen en oliehandel is a wholesaler of fuels, gas and lubricants, operates filling stations and provides fuel card services. With the brand concepts Argos, Total Energies and NXT, more than 60 manned and unmanned filling stations are supplied and operated.
In addition to GP Groot inzameling, GP Groot recycling and GP Groot infra en engineering, GP Groot brandstoffen en oliehandel is one of the business units of GP Groot group. Since 1917, the family business has grown into a company with more than 1,100 employees.
The activities within GP Groot group seem very diverse, but have one goal in common: working together towards a circular, energy-neutral and climate-proof future.
About ADS-TEC Energy
ADS-TEC Energy is a company of ADS-TEC group, and is part-owned by Bosch Thermotechnik GmbH (“Bosch”). The Company is headquartered in Nürtingen near Stuttgart (Germany), with a production site near Dresden (Germany).
ADS-TEC Energy is drawing on more than ten years of experience with lithium-ion technologies, storage solutions and fast charging systems, including the corresponding 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.
About European Sustainable Growth Acquisition Corp.
EUSG is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
EUSG intends to concentrate its efforts on identifying Europe-based, high growth, technology-enabled businesses that utilize green technologies, aligning with ESG principles and the UN Sustainable Development Goals, and addressing consumer preferences for lifestyles driven by sustainability.
The company is sponsored by a team led by its Chairman, Lars Thunell, and a management team led by Co-CEOs Pieter Taselaar and Matheus (Thijs) Hovers, President Karan Trehan and board members Wilco Jiskoot and Elaine Grunewald, and advisors Marc Rothfeldt, Bazmi Husain, Fredrik Ljungström, Jonathan Copplestone, and Aaron Greenberg is chief strategy officer.
Hihglights:
- Limited grid capacity no longer an obstacle to fast charging
- Fast charging innovation makes ultra-fast charging of electric cars possible everywhere
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Dutch GP Groot signs distributor contract with ADS-TEC Energy, HEILOO, The Netherlands and NÜRTINGEN, Germany, December 15, 2021
