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ADS-TEC Energy and Paragon Mobility have signed a partnership and deployed the first series of ultra-fast, battery-buffered EV charging stations in France
ADS-TEC Energy partners with Paragon Mobility for roll out of ultra-fast, battery-buffered EV charging stations in France (Photo: Business Wire)
With a focus on serving the market for high-quality optimized charging infrastructure, Paragon Mobility has developed a sustainable business model for a highly flexible, high-intensity, fast charging infrastructure in France
Paragon Mobility has acquired its first ChargePost EV chargers from ADS-TEC Energy, one of the global leaders in battery-buffered fast charging systems
ChargePost features charging up to 300 kW even over weak grid connections and delivers additional revenue opportunities with grid services, energy recovery, and digital advertising.
NüRTINGEN, Germany, October 22, 2024--(BUSINESS WIRE)--ADS-TEC Energy (NASDAQ: ADSE), a global leader in battery-buffered fast charging systems, today announced that it has signed a partnership with Paragon Mobility in France. More than 206,000 new EVs have been registered in France since the beginning of 2024, an important factor in the business growth of Paragon Mobility, making France one of the key markets for EVs in Europe.
Headquartered in the technology park of Sophia Antipolis, France, Paragon Mobility delivers a new class of energy optimization infrastructure with EV charging as a key service offering. In addition to designing, developing and deploying since 2021 its own line-up of battery-buffered modular containerized fast charging solutions named "Pods", the company is now expanding its offering with ADS-TEC Energy’s ChargePost.
Paragon Mobility is deploying ChargePost because of its industry-leading features. Up to two vehicles can be quickly charged at the same time. It supports up to 300 kW or 150 kW when charging two vehicles simultaneously. ChargePost can also include two large 75-inch LED displays for digital advertising to generate new revenue streams.
Paragon Mobility can use renewable or locally-generated electricity to charge the ChargePost battery. Its 201 kWh battery storage unit supports bidirectional use to feed energy back into the grid when required. It can also boost or stabilize weak grid connections. Several ChargePost systems can be networked to form a virtual power plant, scaling storage capacity and marketing options. With this approach, electricity is stored when it is cheap or abundant for use when it is scarce or expensive.
ADS-TEC Energy's solutions and services give Paragon the flexibility to support more than car charging. Paragon Mobility already uses ChargePost for charging electric buses. Other customers are using ChargeBox and ChargePost to charge trucks.
Paragon Mobility has the goal of transforming EV charging infrastructure to save its customers time and money while offering a highly flexible and available charging service. It also aims to foster customer enthusiasm and acceptance by delivering peace of mind and impressive charging times, in a young and sometimes skeptical market.
As it gears up to contribute to the scaling of the energy transition in the French mobility sector, Paragon Mobility has already garnered the attention of top-tier clients and industrial partners and won prestigious awards. It has been featured on the SET100 list of the German Energy Agency DENA and World Energy Council of the most promising climate tech companies in 2023; its CEO and Co-founder Jean Lemaire was named Best Charging and Energy Distribution Infrastructure CEO (Europe) by EU Business News Magazine. The company recently announced it is teaming up with ex-F1 driver and former Formula E World Champion Sebastien Buemi.
"With Paragon Mobility, we have a strong and competent partner at our side who will implement exciting and inspiring projects with our products in France and elsewhere," said Henrik Langwald, Senior Vice President Head of Sales at ADS-TEC Energy.
"Paragon Mobility defines itself by delivering highly optimized, flexible, high quality charging infrastructure even in the most constrained sites. With these first signature deployments with ADS -TEC Energy in France, combining super charging with battery storage in low grid connection sites and intensive applications, we have started to write down a remarkable page in energy transition," said Jean Lemaire, CEO of Paragon Mobility
About ADS-TEC Energy
Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and produces battery storage solutions and fast charging systems including their energy management systems. Its battery-based fast-charging technology enables electric vehicles to charge ultra-fast even with weak power grids and is characterized by a very compact design. The company, based in Nürtingen, Baden-Württemberg, was nominated for the German Future Prize by the Federal President and was included in the "Circle of Excellence" in 2022. The high quality and functionality of the battery systems is due to a particularly high level of in-depth development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for car manufacturers, energy supply companies and charging station operators.
Paragon Mobility ambitions to transform the energy, charging and grid infrastructure landscape. To this end we offer a modular, compact, mobile and highly flexible and effective energy management piece of infrastructure named the Energy Pod, which can fast charge multiple electric vehicles at the same time with a limited footprint on the grid.
The company was formed in 2019 and has been led by Jean Lemaire and a team combining 60+ years of experience in the deployment and financing at scale of energy transition infrastructure and is backed by private-equity investors. Today Paragon Mobility already delivers high quality energy management and electric vehicle charging services to large clients and in environments as diverse as industrial fleets, electric aviation, logistics, transports and motorsports and racetracks.
Paragon Mobility was selected in 2023 to feature on the SET100 list of the German Energy Agency DENA and World Energy Council, its solutions have been labelled by the Solar Impulse Foundation. Paragon Mobility is also part of the business acceleration program of Crédit Agricole.
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 financial outlook for 2023, our expectations with respect to future performance and the anticipated timing of certain commercial activities. 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 30, 2024, which is available on our website at https://www.ads-tec-energy.com 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.
