- The first commercial deployment of this technology in the
world, the companies have deployed nearly 1,300 GoStations for
Virtual Power Plant (VPP) participation this month, and plan to
activate more than 1,200 additional GoStations by
mid-2023.
- Gogoro's participation in Enel X's Taiwan VPP includes the
dynamic pausing of Gogoro Network energy grid usage as well as
sending energy to the grid as needed.
TAIPEI,
Taiwan, April 18, 2023 /PRNewswire/ -- Gogoro
Inc. (Nasdaq: GGR), a global technology leader in battery
swapping ecosystems that enable sustainable mobility solutions for
cities, and Enel X, a global leader in innovative energy services,
such as Virtual Power Plants (VPP), today announced the commercial
deployment of 2,500 Gogoro battery swapping stations across 1,000
locations in Enel X's Virtual Power Plant (VPP) to support
Taiwan's renewable energy
transition. The rollout follows the completion of a successful
pilot program in 2022 and is the first commercial deployment of
this technology in the world.
"We are entering a new era of smart energy infrastructure, and
by integrating the Gogoro Network with the Enel X Virtual Power
Plant (VPP) in Taiwan we are
providing a new energy resource. It is the first time this
technology has been deployed this way in the world, and it creates
a new Gogoro revenue stream beyond mobility," said Horace Luke, founder, and CEO of Gogoro. "We
have always believed that time-shifting energy was key to enabling
the sustainable transformation of energy and transportation, and
Gogoro continues to be a key part of these advancements. Together,
the Gogoro community is contributing to Taiwan's net-zero targets by helping to
integrate more variable power generation resources onto the grid.
Today, when the energy grid begins to max out, we can dynamically
pause our energy usage or provide energy back to the grid while
continuing to operate our battery swapping service independently as
needed."
In 2022, Gogoro and Enel X's VPP pilot in Taiwan demonstrated that the Gogoro Network
could safely pause charging if there was a grid imbalance or
provide energy back to the grid as demand required. Once the demand
subsided, Enel X's VPP sent a signal to the Gogoro Network to
safely restore grid consumption. The Gogoro Network performed these
services without causing any interruptions to Gogoro Network
battery swapping customers, demonstrating that the network is an
ideal resource to support Taiwan's
energy transition. Integrating Gogoro Network battery swapping
energy into the Enel X VPP in Taiwan has the same effect as bringing new
energy generation online to meet energy demand.
The companies have deployed nearly 1,300 GoStations across more
than 500 locations this month and plan to deploy more than 2,500
GoStations in total across 1,000 locations by mid-2023 to support
grid efficiency and stability.
"The commercial expansion of the Gogoro and Enel X pilot program
to more than 1,000 battery swapping locations highlights a
significant step in our ancillary service to increase energy use
efficiency. It is also an essential element in the development of
large uptakes of renewable energy in the global electricity
industry and a positive demonstration of how businesses like Gogoro
can proactively participate in Taiwan's energy market at scale," said
president of Taiwan Power Company (TPC), Yao-Ting Wang." "Enel X's VPP aggregates
Gogoro's battery swapping energy load to contribute to TPC's Energy
Trading Platform for ancillary service. Our Energy Trading Platform
allows organizations like Gogoro to be active contributors of
energy in Taiwan and we encourage
more businesses to participate through professional aggregators
like Enel X, to work together towards Taiwan's renewable energy future."
"Our work with Gogoro showcases the vital role that VPPs will
play in the transition to renewable energy. As new
distributed resources are built to electrify and decarbonize our
energy use, VPPs will unlock greater sustainability impacts and
improved financial returns by connecting these assets to the
broader energy system. Our platform does this by aggregating
thousands of these 'new energy' assets into a resource that can
help balance the intermittency of large-scale renewable power
stations. We believe our work with Gogoro is a world-leading
demonstration of what VPPs can do, and we are honored and excited
to continue growing our collaboration with them", said
Jeff Renaud, Head of Enel X Asia
and Oceania.
Taiwan Power Corporation has forecast that the future business
opportunity in the electricity-sharing economy in Taiwan is predicted to be tens of billions of
New Taiwan Dollars[1]. Enel X Taiwan has the largest VPP in
Taiwan's energy market today[2],
managing the largest volume of distributed energy resources in
TPC's Energy Trading Platform.
About Enel X
Enel X Global Retail is the Enel Group's global
advanced energy services business line. As a global leader in the
development of innovative solutions to support the energy
transition, Enel X Global Retail provides consumers, businesses and
cities with a modular and integrated offer built around customer
needs, promoting electrification and digitalization as drivers for
creating new value. Enel X Global Retail manages demand response
services, with around 8.5 GW in total capacity, has installed
around 75 MW of behind-the-meter storage and more than 3 million
lights for public lighting around the world. In addition, it offers
energy services to around 67 million customers every day. Enel X
Global Retail's ecosystem of solutions includes assets for the
optimization and self-production of energy, premium solutions for
energy efficiency, and competitive and flexible energy offers, with
the end goal of helping customers develop their own energy
roadmaps.
For more information, visit https://www.enelx.com/tw and
follow Enel X on LinkedIn, Facebook, Twitter and
Instagram.
About Gogoro
Founded in 2011 to rethink urban energy and inspire the world to
move through cities in smarter and more sustainable ways, Gogoro
leverages the power of innovation to change the way urban energy is
distributed and consumed. Recognized and awarded by Frost &
Sullivan as the "2023 Global Company of the Year for battery
swapping for electric two-wheel vehicles", Gogoro's battery
swapping and vehicle platforms offer a smart, proven, and
sustainable long-term ecosystem for delivering a new approach to
urban mobility. Gogoro has quickly become an innovation leader in
vehicle design and electric propulsion, smart battery design,
battery swapping, and advanced cloud services that utilize
artificial intelligence to manage battery availability and safety.
The challenge is massive, but the opportunity to disrupt the status
quo, establish new standards, and achieve new levels of sustainable
transportation growth in densely populated cities is even greater.
For more information, visit https://www.gogoro.com/news and follow
Gogoro on Twitter: @wearegogoro.
Forward Looking Statements
This communication contains forward looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward looking statements generally relate to future
events or Gogoro's future financial or operating performance. In
some cases, you can identify forward looking statements because
they contain words such as "may," "will," "should," "expects,"
"plans," "anticipates," "going to," "could," "intends," "target,"
"projects," "contemplates," "believes," "estimates," "predicts,"
"potential" or "continue" or the negative of these words or other
similar terms or expressions that concern Gogoro's expectations,
strategy, priorities, plans or intentions. Forward-looking
statements in this communication include, but are not limited to,
the partnership between Gogoro and Enel X (the "partnership"),
including the ability of such partnership to achieve its goals and
projections of market opportunity, the potential timeline for the
launch of Gogoro's products and services in Taiwan, the potential growth in Taiwan, the capability of Gogoro's technology,
business plans and statements by Gogoro's founder and chief
executive officer, Enel X's Head of Asia
Pacific, and Taiwan Power Company's President. Gogoro's
expectations and beliefs regarding these matters may not
materialize, and actual results in future periods are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected, including risks related to the
impact of the COVID-19 pandemic, risks related to macroeconomic
factors including inflation and consumer or customer confidence,
risks related to political tensions, Gogoro's ability to
effectively manage its growth, Gogoro's ability to launch and ramp
up the production of its products and control its manufacturing
costs and manage its supply chain issues, Gogoro's risks related to
ability to expand its sales and marketing abilities, Gogoro's
ability to expand effectively into new markets, foreign exchange
fluctuations, Gogoro's ability to develop and maintain
relationships with its partners, risks associated with formalizing
the partnership, including reaching any definitive agreement, if
necessary, for the partnership, risks related to operating in
Taiwan, regulatory risks and
Gogoro's risks related to strategic collaborations, risks related
to the Taiwan market and other
international markets or alliances including Gogoro's ability to
enter into and execute its plans related to strategic
collaborations or alliances in order for such strategic
collaborations or alliances to be successful and generate revenue.
The forward looking statements contained in this communication are
also subject to other risks and uncertainties, including those more
fully described in Gogoro's filings with the Securities and
Exchange Commission ("SEC"), including in Gogoro's Form 20-F for
the year ended December 31, 2021,
which was filed on May 2, 2022 and in
its subsequent filings with the SEC, copies of which are available
on our website and on the SEC's website at www.sec.gov. The forward
looking statements in this communication are based on information
available to Gogoro as of the date hereof, and Gogoro disclaims any
obligation to update any forward looking statements, except as
required by law.
1Taiwan Power Company, Power transformation
milestone! Taipower's power trading platform is officially
operating today Bringing in private power to help supply
electricity, looking up to the $10
billion shared economy, November 11,
2021.
2Taiwan Power Company Energy Trading Platform
https://etp.taipower.com.tw/web/qse_info/qse_list
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