ADS-TEC Energy conquers the Nordic countries – Caverion Group to become a strong and strategic long-term partner

• ADS-TEC Energy is expanding its presence in the Nordic countries, starting with Norway
• The company is partnering with Caverion – an experienced and well-known partner in the field of industrial and CPO services
• ADS-TEC Energy is kick-starting the partnership by supplying ChargePost, ChargeBox and C&I energy storage systems
• ADS-TEC products offer ultra-fast charging in limited grids and on existing infrastructure, combined with multi-stream revenue opportunities

Nürtingen, February 29, 2024 – ADS-TEC Energy (NASDAQ: ADSE) and the Caverion Group sign a historic partnership agreement for Norway, serving as the starting point for the Nordic countries. Together, they are driving forward the expansion of fast-charging electric mobility infrastructure in these countries. Caverion, an internationally active maintenance company, will be the system integrator, taking over the commissioning and maintenance of the company’s fast-charging products with immediate effect. This makes it the official service partner for ADS-TEC Energy in Norway.

Caverion – a strong partner in the Nordic countries
Caverion provides technical building services across all trades. It plans and installs technical building systems and offers service and maintenance over the entire life cycle of a building – regardless of whether this is an office complex, industrial site or infrastructure. Furthermore, it is a strong and trusted service provider for leading CPOs in their markets. The company has 14,500 employees at 216 locations in ten countries. Partnering with ADS-TEC Energy is the next logical step for its business. “ADS-TEC products are innovative and a good solution for our customers and partners who often have limited grid access,” says Ove Kjelby, Head of Sales E-Mobility at Caverion. “Since they enable ultra-fast charging from limited networks, they can utilize existing infrastructure without expanding the grid. Furthermore, ADS-TEC products are a good fit for CPOs that need to renew their older chargers in a cost-efficient way, while still capitalizing on the existing infrastructure.” He also points out the ability to level off peaks due to the products’ technical finesse: “Since ChargeBox and ChargePost can provide multi-stream revenues for our clients, we are happy to include this offer in our range of products and services.”

ADS-TEC Energy’s CEO Thomas Speidel is looking forward to a long-term partnership: “For us, Caverion represents a partner in Norway and the Nordic countries that offers quick, hands-on quality services to customers and CPOs. This experienced and trusted company is the perfect partner for bringing the full range of high-quality maintenance and services to the world’s leading e-mobility market.”

Fast charging without grid expansion
Fast-charging solutions from ADS-TEC Energy are an industry benchmark: the battery-buffered platform solutions offer ultra-fast charging with up to 320 kW and a small footprint – without the need for complex, costly grid expansion. This means that electric vehicles (EVs) can be charged within minutes, even if the grid power is too low for fast charging. ADS-TEC Energy is supplying the fast-charging solutions ChargePost, ChargeBox and C&I energy storage systems. The ChargeBox is the most compact and efficient solution in its class. Thanks to the various placement options for the system components, the grid connection can be up to 300 meters away from the charging point. The ChargePost also enables High Power Charging (HPC) within minutes on a power-limited grid – and takes ultra-fast charging to a new level with best-in-class technologies. With a local presence, ADS-TEC Energy and Caverion ensure fast and reliable service in Norway.

Norway is a global pioneer in e-mobility. More than 20 percent of vehicles on Norwegian roads are now EVs. According to an estimate from 2022, the country will need between 6,000 and 10,000 fast-charging points for EVs by 2030. Fast-charging solutions, such as those from ADS-TEC Energy, will help the country to achieve this goal without extensive structural changes.

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. It was most recently nominated by the President of the Federal Republic of Germany for the German Future Prize and elevated to the "Circle of Excellence" in 2022. 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: www.ads-tec-energy.com

About the Caverion Group

Caverion stands for technical building equipment in all trades. They plan and construct technical building systems and provide service and maintenance. Caverion covers the entire life cycle of a building – whether office complex, industrial plant, airport, hospital or congress center. Caverion OY, based in Helsinki, employs more than 14,000 people in ten countries in Northern, Eastern and Central Europe.

More information: www.caverion.com

Media Contacts:

ADS-TEC Energy Europe:

Juliane Kunz

Head of PR Europe

press@ads-tec-energy.com

ADS-TEC Energy United States:

Stephannie Depa

Breakaway Communications

sdepa@breakawaycom.com

+1 530-864-0136