NÜRTINGEN, Germany - ADS-TEC Energy (NASDAQ:ADSE) has announced a partnership with French company Paragon Mobility to deploy ultra-fast, battery-buffered EV charging stations across France. This move comes as France sees a surge in electric vehicle (EV) registrations, with over 206,000 new EVs registered since the beginning of 2024.
Paragon Mobility, based in the technology park of Sophia Antipolis, France, has been developing its own line of battery-buffered modular containerized fast charging solutions, known as Pods, since 2021. The company's expansion includes the integration of ADS-TEC Energy's ChargePost chargers, which can deliver up to 300 kW of power even over weak grid connections.
The ChargePost system supports the charging of two vehicles simultaneously and includes the option for digital advertising through two large 75-inch LED displays, creating additional revenue streams. With a 201 kWh battery storage unit, the system can also feed energy back into the grid and boost or stabilize weak grid connections. The networking capability of ChargePost systems allows them to form a virtual power plant, optimizing energy usage.
Paragon Mobility aims to transform the EV charging infrastructure by providing efficient and flexible charging services, which have already attracted top-tier clients and industrial partners. The company has been recognized as one of the most promising climate tech companies, featuring on the SET100 list by the German Energy Agency DENA and World Energy Council in 2023. Its CEO, Jean Lemaire, was named Best Charging and Energy Distribution Infrastructure CEO (Europe) by EU Business News Magazine.
Henrik Langwald, Senior Vice President Head of Sales at ADS-TEC Energy, expressed enthusiasm about the partnership, stating that Paragon Mobility will implement inspiring projects with their products in France. Jean Lemaire, CEO of Paragon Mobility, highlighted the significance of combining super charging with battery storage in sites with low grid connection and intensive applications.
This collaboration is set to contribute to the scaling of the energy transition in the French mobility sector. The information disclosed is based on a press release statement from ADS-TEC Energy.
InvestingPro Insights
As ADS-TEC Energy (NASDAQ:ADSE) forges ahead with its partnership to expand ultra-fast EV charging stations in France, investors may find additional context from InvestingPro's real-time data and tips particularly insightful.
According to InvestingPro data, ADS-TEC Energy has shown impressive revenue growth, with a 168.42% increase in the last twelve months as of Q2 2024. This aligns well with the company's strategic move to expand its presence in the French EV charging market, which is experiencing rapid growth in electric vehicle registrations.
An InvestingPro Tip indicates that analysts anticipate sales growth for ADS-TEC Energy in the current year, which could be partly driven by initiatives like the Paragon Mobility partnership. This expectation of continued growth suggests that the company's expansion strategy may be gaining traction in the market.
However, investors should note that despite the strong revenue growth, ADS-TEC Energy currently operates with a gross profit margin of 8.98%, which InvestingPro categorizes as weak. This may reflect the challenges of scaling up in a competitive and capital-intensive industry like EV charging infrastructure.
For those interested in a deeper analysis, InvestingPro offers 11 additional tips for ADS-TEC Energy, providing a more comprehensive view of the company's financial health and market position.
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