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Limited grid capacity is no longer an obstacle to fast charging
Fast charging innovation makes ultra-fast charging of electric cars ubiquitous
HERO, The Netherlands and Nürtingen, Germany, December 15, 2021 /PRNewswire/ - ADS-TEC Energy GmbH ("ADS-TEC Energy" or "Company") is a global leader in battery buffered ultrafast charging technology GP Groot, a Dutch wholesaler of fuel, gas and lubricants, gas station operator and gas card service provider, has signed a distributor contract with the Netherlands for the ADS-TEC Energy ultra-fast charging solution. The ultra-fast charger is equipped with a boost battery, which can achieve ultra-fast charging up to 320 kW even when connected to a power grid with limited power. The introduction of ultra-fast charging is expected to solve the increasingly serious problem of limited grid capacity. ADS-TEC Energy is currently undergoing a business merger with a publicly listed European sustainable growth acquisition company (NASDAQ: EUSG), which is expected to end in the fourth quarter of 2021, when the combined company is expected to be in Nasda Gram (Nasdaq: ADSE) for trading.
The number of electric passenger vehicles is expected to increase substantially in the next few years. In order for the electric vehicle revolution to succeed, this growth requires a corresponding increase in the number of available charging points. According to data from the Dutch Enterprise Agency (RVO.nl), the Netherlands currently has approximately 202,000 private charging points for electric vehicles and 83,000 public charging points, of which 1,250 are more than 100 kilowatts. Nine years later, according to the government's plan, this should be increased to 1.7 million. Although electricity demand will increase substantially in the next few years, the Dutch power grid has reached its maximum capacity in many places. This is becoming a growing limit for expanding the scale of electric vehicle charging. Even if the input power is limited, the ADS-TEC Energy ultra-fast charging system can achieve ultra-fast charging of 320 kW or 2 x 160 kW. This can provide a range of 200 kilometers in 10 minutes.
“In view of the increasing electrification of the fleet, we will provide our own gas station network with fast chargers,” said Pieter Talsma, director of GP Grootbrandstoffen en oliehandel, of which NXT Mobility is a part. "The first inventory shows that in many places the grid capacity is too limited to install fast chargers. The grid shortage will only increase in the next few years. We even received letters from grid operators saying that it is not possible to upgrade in the next few years. Existing power connections. This prevents the much-needed rapid charging capacity expansion and slows energy conversion. We looked for a solution and found its vitality in ADS-TEC’s innovative ultra-fast charging system."
GP Groot has been designated by ADS-TEC Energy as the Dutch distributor of its ultra-fast charging system. GP Groot's goal is to sell and deploy at least 50 ADS-TEC Energy ChargeBoxes in the Netherlands in the first year of cooperation.
Thomas Speidel, CEO and founder of ADS-TEC Energy, said: “The Netherlands is one of the most densely populated countries in Europe and a country with rapid development of electric vehicles. This has led to a corresponding demand for fast charging solutions across the country, not just It is in the central fast charging hub. Our technology ensures ultra-high charging speeds where the grid capacity is insufficient, so it is very suitable for the situation in the Netherlands, which is also typical in many countries and cities."
GP Groot provides the ADS-TEC Energy ultra-fast charging system through its subsidiary NXT Mobility, which focuses on achieving sustainable mobility. NXT Mobility will focus on selling ADS-TEC Energy ultra-fast charging systems to gas stations, transportation and taxi companies, fast charging network operators, and utility companies.
Erik Metselaar, Business Manager of NXT Mobility: "We believe that with the ADS-TEC Energy ultra-fast charging system, we can begin to solve the increasingly serious problem of limited grid capacity. Advanced battery technology enables the system to generate five times the grid power. It is like The mobile power supply is charged at low power, and then the stored energy is transmitted to the electric car ultra-fast, up to 320 kilowatts. The system is very compact and has enough capacity to provide ultra-fast charging throughout the day, even in the busiest places. In addition, these systems are competitive with traditional fast chargers in terms of total life cycle cost, and operating costs can even be greatly reduced. "
The first Dutch ADS-TEC Energy ultra-fast charging system will soon be put into use at one of the NXT Mobility gas stations.
On August 11, 2021, ADS-TEC Energy and European Sustainable Growth Acquisition Corporation (NASDAQ: EUSG) ("EUSG") is a publicly traded special purpose acquisition company that focuses on identifying, High-growth, technology-supported companies use green technology to reach a final agreement on business combination, which will result in ADS-TEC Energy becoming a listed company after the transaction is completed. ADS-TEC Energy also announced its intention to list on the Nasdaq Capital Market ("NASDAQ") after the business combination is completed. The combined company will be named ADS-TEC Energy plc, and its common stock and warrants are expected to be listed on the Nasdaq respectively under the stock codes "ADSE" and "ADSEW". In terms of business combination, EUSG obtained a fully subscribed private equity investment ("PIPE") commitment of US$156 million at a price of US$10 per share, which is expected to be completed one working day before the business combination.
About NXT Mobility NXT Mobility is part of the GP Groot Group. Climate change and concerns about air quality have become increasingly clear that we need to change the way we live and do business. NXT Mobility is a full-service, one-stop concept for sustainable mobility. NXT provides charging solutions for electric vehicles, reduces fuel that is harmful to the environment and climate, and operates the NXT Energy Center, the gas station of the future.
About GP Grootbrandstoffen en oliehandel GP Grootbrandstoffen en oliehandel is a wholesaler of fuel, gas and lubricants, operating gas stations and providing gas card services. With the brand concepts of Argos, Total Energies and NXT, it supplies and operates more than 60 manned and unmanned gas stations. In addition to GP Groot inzameling, GP Groot recycling and GP Groot basic projects, GP Grootbrandstoffen 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 the GP Groot Group seem to be very diverse, but they all have a common goal: to work together to achieve a future of recycling, energy neutrality and climate protection.
About ADS-TEC Energy ADS-TEC Energy is a company of the ADS-TEC Group, partly owned by Bosch Thermotechnik GmbH ("Bosch"). The company is headquartered in Nürtingen near Stuttgart (Germany) and has a production base near Dresden (Germany). ADS-TEC Energy has more than ten years of experience in lithium-ion technology, storage solutions and fast charging systems (including corresponding energy management systems). Its battery-based fast charging technology enables electric vehicles to be ultra-fast charging even on low-power grids, and has a very compact design. The high quality and high functionality of the battery system is attributed to the extremely high development and in-house production depth. With its advanced system platform, ADS-TEC Energy is an important partner for automobiles, original equipment manufacturers, utility companies and charging operators.
About the European Sustainable Growth Acquisition Company EUSG is a blank cheque company established for the purpose of mergers with one or more companies, capital stock exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations. EUSG intends to concentrate on identifying European, high-growth, technology-supported companies that use green technologies, consistent with ESG principles and the United Nations Sustainable Development Goals, and address consumer preferences for sustainability-driven lifestyles. The company is sponsored by a team led by Chairman Lars Thunell, co-CEO Pieter Taselaar and Matheus (Thijs) Hovers, President Karan Trehan, board members Wilco Jiskoot and Elaine Grunewald, and a management team led by consultant Marc Rothfeldt, Bazmi Husain, Fredrik Ljungström , Jonathan Copplestone and Aaron Greenberg are chief strategy officers.
Forward-Looking Statements The information contained in this article and any oral statements related thereto include the "forward-looking statements" referred to in Section 27A of the Securities Act and Section 21E of the Exchange Act. In addition to the current or historical facts contained in this article, regarding the proposed merger of the European Sustainable Growth Acquisition Corporation (an exempt limited liability company incorporated in the Cayman Islands with company number 367833 ("EUSG")) and EUSG II Corporation All the statements made by, an exempted limited liability company incorporated in the Cayman Islands with company number 379118 ("EUSG II"), and intends to acquire shares of ads-tec Energy GmbH located in Nürtingen and registered in the Commercial Registry of the Stuttgart District Court According to HRB 762810 ("ADS-TEC Energy"), ads-tec Energy plc is an Irish public limited company officially incorporated under the laws of Ireland. It is a wholly-owned subsidiary of EUSG ("Irish Holding Company"), an Irish holding company and EUSG is able to complete the transaction, the expected deadline of the transaction, the income of the transaction and the future financial performance of the Irish holding company after the transaction, as well as the strategy, future operations, financial situation, estimated income and loss, estimated cost, and prospects of our company and EUSG , Plans and management objectives are forward-looking statements. When used in this article, including any oral statements related to this article, the words "expect", "believe", "anticipate", "potential", "continue", "may", "will", "should", " "Maybe", "seeking", "approximately", "forecasting", "intending", "planning", "estimating", "expecting", the denial of these terms and other similar expressions is intended to identify forward-looking statements, although not all forward-looking Statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events, and are based on currently available information about the outcome and timing of future events. Unless otherwise required by applicable law, the Irish holding company and EUSG assumes no responsibility to update any forward-looking statements, all of which are clearly defined by the statements in this section to reflect events or circumstances after the date of this agreement. The Irish Holding Company and EUSG remind you that these forward-looking statements are subject to risks and non-compliance. Deterministic effects, most of which are difficult to predict, many of which are beyond the control of the Irish holding company and EUSG. These risks include, but are not limited to: (1) the inability to complete the proposed transaction for the proposed business combination; (2) the inability to confirm the proposed business combination The expected income of ADS-TEC Energy may be affected by (among other things) competition and the profitability of combined business growth and management growth; (3) ADS-TEC Energy’s business and expansion strategy related risks; (4) Consumers are not Accept and adopt electric vehicles; (5) The overall demand for electric vehicle charging and the possibility of reduced demand if government tax rebates, tax credits and other financial incentives are reduced, modified or cancelled; (6) ADS-TEC Energy’s technology and There may be undiscovered defects or errors in the product; (7) the impact of competition on ADS-TEC Energy’s future business; (8) the proposed merger cannot successfully retain or recruit senior staff, key employees or directors; (9) right The liquidity of the public securities of the Irish holding company and the impact of transactions; (10) the market’s response to the proposed business combination; (11) the lack of a market for the Irish holding company’s securities; Financial performance; (13) costs associated with the proposed business combination; (14) changes in applicable laws or regulations; (15) the new coronavirus ("COVID-19") may prevent ADS-TEC Energy and EUSG from completing their business Ability to merge; (16) The possibility that COVID-19 may adversely affect the operating performance, financial condition and cash flow of ADS-TEC Energy, Irish Holdco or EUSG; (17) ADS-TEC Energy or EUSG may be affected by other economies Possibility of adverse effects of, business and/or competitive factors; (18) Other risks and uncertainties indicated from time to time in the documents submitted or to be submitted by EUSG to the SEC sex. If one or more of the risks or uncertainties described herein and any oral statements related thereto occur, or if the underlying assumptions prove to be incorrect, actual results and plans may differ from those expressed in any forward-looking statements There are major differences. For more information on these and other factors that may affect the expectations and forecasts of Irish holding companies and EUSG, please see EUSG’s initial public offering prospectus, which was filed with the U.S. Securities and Exchange Commission on January 22, 2021. In addition, EUSG's periodic reports and other SEC documents are publicly available on the SEC website http://www.sec.gov.
No offer or solicitation This newsletter is for reference only and does not constitute an offer or an offer to buy any securities in accordance with the proposed business combination or other means, nor may it sell any securities in any jurisdiction in the United States. Under the securities laws of any such jurisdiction, it is illegal to offer, solicit or sell before registration or qualification. Unless a prospectus meeting the requirements of Article 10 of the Securities Law is passed, no securities offer shall be made.
Other information about business combinations and their location. This communication does not constitute an offer to sell or buy any securities or any request for voting or approval.
The Irish holding company’s registration statement on Form F-4 (as amended from time to time, "Registration Statement") submitted to the US Securities and Exchange Commission provides a complete description of the terms of the proposed business combination, including a prospectus regarding the following related to the business combination Irish holding company securities and a power of attorney for voting on the business combination at the EUSG general meeting of shareholders. The US Securities and Exchange Commission announced that the registration statement became effective on December 7, 2021, and the final proxy statement/prospectus has been mailed to EUSG shareholders. Urges EUSG investors and security holders to read the proxy statement/prospectus and the documents incorporated by reference before making any voting or investment decisions on the proposed business combination, as they contain important information about the business combination and business parties Information combination. Investors and shareholders will be able to obtain free copies of the materials submitted by the Irish Holding Company and EUSG to the US Securities and Exchange Commission on the US Securities and Exchange Commission's website www.sec.gov.
Participants of Solicitation Irish Holdco, EUSG, Bosch, ADS-TEC Holding GmbH and their respective directors and executive officers may be regarded as participants of EUSG shareholders’ request for a proxy for the proposed transaction. You can find more information about EUSG directors and executive officers in EUSG's initial public offering prospectus filed with the SEC on January 22, 2021 and its 10-Q form filed with the SEC. Other information about the participants in the proxy solicitation and descriptions of their direct and indirect interests are contained in the proxy statement/prospectus filed by the SEC.
Shareholders, potential investors and other interested parties should carefully read the power of attorney/prospectus before making any voting or investment decisions. You can obtain free copies of these documents from the sources mentioned above.
Europe: Antonia Stranzinger ADS-TEC Energy [email protected] +49-7022-2522-2306
United States: Stephannie Depa Breakaway Communications [email protection] +1 530-864-0136
NXT Mobility Erik Metselaar [Email protection] +31 6 22007633
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