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ZapGo and AS Green Cube Innovation Have Formed a New Joint Venture Enabling Ultra-Fast Charging Units for Electric Vehicles in Norway

May 1, 2019

OXFORD, England & CHARLOTTE, N.C. & OSLO, Norway--(BUSINESS WIRE)--May 1, 2019--A joint venture between ZapGo Ltd and AS Green Cube Innovation of Norway will commercialize the world’s first operational storage units to enable ultra-fast chargers for battery electric vehicles (EVs), utilizing ZapGo’s Carbon-Ion™ (C-Ion ® ) technology.

The joint venture (JV) aims to significantly reduce the time needed to fully charge a car, truck, bus or ferry by enabling 350kW (kilowatt) to 1.2MW (megawatt) charging without the need for costly public infrastructure investments. Rollout of the two initial charging units at AS Green Cube Innovation’s existing charging stations in the greater Oslo, Norway area will begin mid-2020.

“Norway is the ideal initial market for ZapGo’s ultra-fast charging technology, due to the high concentration of electric vehicles in use,” said Stephen Voller, CEO of ZapGo. “According to the Norwegian Road Federation, about 60 percent of new car sales in March 2019 were EVs. Drivers who live in apartments or travel long distances will require much faster charging at service stations, because they will not want to wait for hours queuing at public chargers and won’t be able to plug in at home.”

“ZapGo’s C-Ion technology significantly reduces the time required to charge batteries for cars, trucks, buses and ferries, while also reducing the need for costly public infrastructure investments,” said Jon Erik Brøndmo, Chairman of AS Green Cube Innovation. “The use of ZapGo’s C-Ion technology at our fueling stations will cater to Norway’s EV owners by greatly shortening their charging time. It is a true win/win for Norwegian consumers, transportation companies, the public sector and the environment.”

The design goal of a 350kW charger is to transfer around 100kWh (kilowatt-hours) of energy in 15 minutes to a vehicle. 100kWh is required to drive an electric sports utility vehicle (SUV) 300 miles (or about 500km) at freeway or Autobahn speeds, with more than one passenger and with normal air conditioning or heating. To transfer 100kWh in five minutes would require a 1,200kW or 1.2MW charger.

ZapGo is a member of the EV international standards body CharIn, which is also developing standards for 1.2MW electric trucks with the design goal of transferring 1MWh of energy to an electric truck in one hour. 1MWh of energy is required to power a fully loaded 18-wheeler heavy truck for 300 miles (or about 500km) at freeway or Autobahn speeds.

The new chargers have intelligence that recognize the type of vehicle and adjust the maximum safe charge rate. As vehicles become available that can be charged at these very high rates, the chargers will automatically switch to the higher rate. For existing vehicles like the Nissan Leaf that can be charged at 50kW or the Tesla Model S at 120kW, the chargers step down accordingly.

The ZapGo and AS Green Cube Innovation JV will store the electric energy at night and off-peak to provide EV drivers with cost-effective electricity. Vehicles will then be charged from the stored energy, not directly from the grid. This will also enable AS Green Cube Innovation to provide capacity to charge multiple vehicles at the same time, without upgrading the electrical connections to their sites.

About ZapGo Ltd

ZapGo Ltd is a technology company based at the Harwell Research Campus, Oxford with a Charlotte, NC US Office. Using novel nano-carbon materials and ionic electrolytes they produce an ultra-fast, safe, recyclable charging power module that charges in minutes. ZapGo was selected as the winner of the IDTechEx award for “Electric Vehicles: Most Significant Innovation” at the 2019 IDTechEx Show! in Berlin, Germany in recognition of its grid storage solution for EVs involving C-Ion technology. For more information, please visit www.zapgo.com.

About AS Green Cube Innovation

AS Green Cube Innovation operates the Automat-1 and Eco-1 fueling station chains in the Norwegian market, pioneers in the use of green fuel. AS Green Cube Innovation is an innovative and modern energy company that has taken the role of the price squeezer in the fuel market. Automat-1 features automatic stations, that are clean, fast and affordable. For more information, please visit https://www.automat1.no/om-oss/.

Norwegian Road Federation Market Data (Source: https://www.autoblog.com/2019/04/01/electric-vehicles-are-now-the-majority-of-cars-sold-in-norway/ )

  • Almost 60 percent of all new cars sold in Norway in March 2019 were fully electric, a global record as the country seeks to end fossil-fueled vehicle sales by 2025.
  • Norway has exempted battery engines from the taxes imposed on diesel and petrol cars,
  • In 2018, Norway’s fully electric car sales rose to a record 31.2 percent market share from 20.8 percent in 2017, far ahead of any other nation.
  • The surge of electric cars to a 58.4 percent market share in March 2019 came as Tesla ramped up delivery of its Model 3 while Audi began deliveries of its E-Tron SUV.
  • Half of all cars sold in 2019 in Norway will probably be fully electric, according to the Norwegian Electric Vehicle Association.
  • Norway is the global leader in electric car sales per capita
  • Norway’s share of EVs (including plug-in hybrids) stood at 39 percent in 2017, ahead of second-place Iceland at 12 percent and Sweden at 6 percent.
  • In China, the market share was 2.2 percent in 2017, and in the United States just 1.2 percent.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190501005151/en/

CONTACT: AS Green Cube Innovation:

Jon Erik Brøndmo

jonerik@brostad.comUK:

Stephen Voller

stephen.voller@zapgo.comUS:

Charles Resnick

charles.resnick@zapgo.comMedia:

DGI Comm

(212) 825-3210

KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA NORWAY NORTH CAROLINA

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY TRANSPORT OTHER TRANSPORT MANUFACTURING AUTOMOTIVE MANUFACTURING ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE OTHER AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: ZapGo Ltd

Copyright Business Wire 2019.

PUB: 05/01/2019 03:30 AM/DISC: 05/01/2019 03:30 AM

http://www.businesswire.com/news/home/20190501005151/en