Alabama dealerships introduce ultra-fast EV charging

NÜRTINGEN, Germany - ADS-TEC Energy (NASDAQ: ADSE), a technology company with a market capitalization of $646 million and strong liquidity position, has announced the deployment of its ChargeBox ultra-fast EV charging platform at Long-Lewis Ford dealerships in Alabama. According to InvestingPro data, the company maintains more cash than debt on its balance sheet, positioning it well for expansion initiatives. This initiative by the Long-Lewis Auto Group, Alabama’s oldest and largest automotive retailer, introduces high-speed charging infrastructure to areas with previously limited EV support, offering public charging that significantly reduces charging time for electric vehicle owners.

The ChargeBox, known for its battery-buffered technology, enables charging speeds up to 320kW on existing power grids without the need for extensive electrical upgrades. This technology is particularly beneficial for rural or underserved locations where the electrical infrastructure may not support conventional DC fast chargers. With analysts projecting sales growth and profitability this year, according to InvestingPro analysis, ADS-TEC Energy appears positioned to capitalize on the growing EV infrastructure market. Get access to 6 more exclusive InvestingPro Tips to better understand the company’s potential.

Ryan Ware, General Manager of Long-Lewis Ford of the River Region, emphasized the importance of community and the necessity for fast, reliable charging solutions to support the growing number of EV drivers in Alabama. He expressed that the ChargeBox is the only charger capable of meeting their infrastructure needs without straining the grid.

The Long-Lewis Auto Group, which retails over 1,500 vehicles monthly, is enhancing the Ford Power Promise by ensuring customer support in electric vehicle ownership. Their dedication to customer and employee satisfaction extends to their commitment to community welfare.

Alabama has seen over $2 billion in EV-related investments, according to the Alabama Department of Commerce, indicating a significant shift towards electrification in the state’s automotive industry. While ADS-TEC Energy’s revenue grew by 2.45% in the last twelve months to $114 million, the company’s current market valuation suggests investors are pricing in significant future growth potential. Jason Powers, Vice President of North America for ADS-TEC Energy, expressed pride in partnering with Long-Lewis Auto Group to expand ultra-fast EV charging access in Alabama.

ADS-TEC Energy, with over ten years of lithium-ion technology experience, is recognized for its compact, high-quality battery storage solutions and fast-charging systems. The company has been acknowledged for innovation and excellence within the industry, including being nominated for the German Future Prize and inclusion in the "Circle of Excellence" in 2022.

The deployment of ADS-TEC Energy’s ChargeBox at Long-Lewis Ford dealerships marks a significant step in Alabama’s EV infrastructure development, aiming to support the state’s growing number of electric vehicles. This information is based on a press release statement from ADS-TEC Energy.

In other recent news, ADS-TEC Energy has secured up to $50 million in funding from institutional investors to support its growth initiatives in Europe and North America. This financing is structured as a senior secured convertible note due in 2028 and will be provided in two segments. The company plans to use the funds to expand its infrastructure and transition into a full-service provider, expecting significant recurring revenue from late 2025 into 2026. In addition, ADS-TEC Energy has partnered with HyperFast to deploy ChargePost charging stations across Belgium, enhancing the EV charging infrastructure without extensive grid upgrades. This collaboration is expected to quadruple HyperFast’s network by the end of the year. Furthermore, ADS-TEC Energy has announced a partnership with Q8 to supply ultra-fast charging systems in Belgium and the Netherlands, addressing grid capacity challenges with innovative technology. The ChargePost and ChargeBox systems will be deployed across Q8’s service stations, offering charging speeds of up to 320 kW. These developments reflect ADS-TEC Energy’s strategic efforts to support the growing e-mobility market and its commitment to expanding its technological footprint in the energy sector.

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