ADS-TEC Energy Announces Significant Increase in Order Volume for EV-Charging and Industrial Storage Systems
August 25 2022 - 8:30AM
Business Wire
- In the first months of 2022, ADS-TEC Energy secured orders
exceeding more than EUR 60 million.
- ADS-TEC Energy has increased the total order volume to more
than EUR 175 million year to date.
- Battery-buffered, ultra-fast charging stations of ADS-TEC
Energy and stationary storage systems for commercial and industrial
applications are the focus of order intake
ADS-TEC Energy (NASDAQ: ADSE) today announced that the company
has significantly increased the order volume for its products in
fiscal year 2022 since the publication of the first financial
forecast on April 28, 2022. The orders primarily involve the
company’s battery-buffered, ultra-fast EV charging systems, but
also include stationary storage systems for commercial and
industrial applications. For contractual reasons, specific
customers and projects cannot be publicly announced at this
time.
The current problems in the supply chain and the very long
delivery times for products already ordered will mean that sales in
2022, as already announced and planned, will be recorded during the
last months of the year. The previous sales forecasts for 2022 will
not be affected by the increased order backlog, as sales from the
new orders are planned for 2023.
"My team and I are very pleased with the massive increase in
orders, especially in these extremely uncertain times. We see this
customer trust as confirmation of our strategy and hard work," said
Thomas Speidel, CEO, ADS-TEC Energy. " Our production is already
prepared for the additional volume. Together with our strong
suppliers and partners, we are confident that we will be able to
ensure the availability of important materials for production.
Here, ADS-TEC Energy's ability to master all stages of development
is a real differentiator. Nevertheless, inflation, scarcity of
resources and materials will continue to occupy us and the entire
industry; normality is not in sight."
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 on 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
ability to secure critical materials for production and anticipated
timing for recognition of revenue from new orders. 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/investor-relations-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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220825005206/en/
Media – Europe – D. Müller press@ads-tec-energy.de
ADS-TEC Energy Investor Relations – Cary Segall ADS-TEC
Energy c.segall@ads-tec-energy.com +1 845-224-8180 Financial
Media – United States: Scott Gamm Strategy Voice Associates
scott@strategyvoiceassociates.com +1 917-626-9515
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