XCharge and OUC partner for grid stability study

KYLE, Texas - XCharge North America, a provider of electric vehicle (EV) charging solutions with a market capitalization of $68.37 million and impressive gross profit margins of 48%, has partnered with the Orlando Utilities Commission (OUC) to install and study the effectiveness of its Net Zero Series (NZS) charger. According to InvestingPro analysis, the company maintains a healthy balance sheet with more cash than debt, positioning it well for infrastructure expansion. The project, housed within OUC’s Grid Integration Laboratory, aims to investigate how resilient charging solutions can enhance the electrical grid’s stability and reduce operational costs.

The installation of the NZS charger comes as Florida experiences a surge in energy demands, paralleled by a growing number of EVs. The one-year research agreement, with an option to extend, will allow OUC to evaluate the NZS’s battery-integrated system and its ability to handle a demanding operational environment. With annual revenue of $39.07 million, XCharge is actively expanding its market presence. Discover more insights about XCharge’s financial performance and growth potential with InvestingPro, which offers 13 additional exclusive ProTips for informed investment decisions.

Traditional direct current fast charging (DCFC) setups often necessitate costly infrastructure upgrades. However, the NZS charger is designed to minimize the amount of power drawn from the grid, with a maximum output of 194 kW. The unit at OUC operates on a 60-amp breaker and can output up to 189 kW, enabling it to recharge an EV like the Ford (NYSE:F) F-150 Lightning from 20% to 80% in approximately 20 minutes, while significantly reducing the demand impact on the grid.

Paul Brooker, OUC’s Manager of Emerging Technologies, expressed optimism about the charger’s demand response features, which could help manage electricity during peak periods and alleviate stress on the grid. The charger’s capabilities also open possibilities for microgrid applications that can provide critical backup power during emergencies.

Alex Urist, Vice President of XCharge NA, highlighted the significance of the partnership in advancing grid reliability through battery-integrated technology. He noted the potential of the NZS’s bidirectional functionality to enhance grid performance, especially in extreme weather conditions, and its role in supporting the expansion of microgrids in the Orlando area.

The NZS charger is adaptable to various configurations and future grid requirements, with a 233-kWh battery pack that can deliver 189 kW of DC fast charging. Its dual capability is seen as a vital asset in electrifying America’s transportation sector and supporting the transition to a cleaner, more resilient energy infrastructure.

This collaboration places OUC at the forefront of addressing EV charging challenges and utility operations. The study’s findings may provide valuable insights into sustainable energy solutions for long-term grid reliability. With a strong current ratio of 1.77, XCharge demonstrates financial stability to support its innovative initiatives. InvestingPro subscribers can access detailed financial health scores and comprehensive analysis to evaluate the company’s long-term potential in the growing EV infrastructure market. The information in this article is based on a press release statement.

In other recent news, XCHG Limited’s GridLink system, an integrated EV charging solution, has earned crucial UL safety certifications in the United States. These certifications, including UL 1973 and UL 9540A, are recognized for safety, efficiency, and grid compliance within the energy storage market. GridLink’s advanced safety features include built-in fire suppression, IP65-rated sealing for environmental protection, and compliance with UL 1741 for U.S. grid interconnection standards.

The system also offers a DC high-voltage air conditioning system, providing 2% more efficiency than conventional AC systems. This development supports the increasing demand for sustainable and efficient energy solutions. GridLink’s safety monitoring and dual electrical protection ensure quick disconnection of the main circuit under critical conditions, protecting users and infrastructure.

In addition to these developments, XCHG Limited addressed the recent unusual trading activity of its American Depositary Shares (ADSs). The company stated it is unaware of any material developments that could be driving the volatility and emphasized that its operations and financial health remain robust. XCHG Limited continues to maintain transparent communication with its shareholders amid these recent developments.

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