ZOOZ Power Signs MOU with Unnamed Rental Company to Build Ultra-Fast EV Chargers By Investing.com

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ZOOZ Power Signs MOU with Unnamed Rental Company to Build Ultra-Fast EV Chargers

Stock Markets Nov 03, 2022 02:19PM ET

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ZOOZ Power Signs MOU with Unnamed Rental Company to Build Ultra-Fast EV Chargers

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By Michael Elkins

ZOOZ Power (formerly Chakratec), a leading supplier of Flywheel-based Power Boosting solutions, has signed a binding memorandum of understanding with an unnamed global car rental service to collaborate on, build, and operate a joint pilot of EV ultra-fast charging infrastructure. The unnamed company operaties thousands of car rental sites in over 100 countries. ZOOZ hopes the partnership will demonstrate ZOOZ Power’s solution based on the ZOOZTER-100 and its ability to enable and support ultra-fast charging of electric vehicles in sites where the electric grid is power-constrained.

“The electric vehicles’ revolution introduces dramatic changes to how car rental sites operate and the infrastructures they utilize. Car rental service providers are in need of ultra-fast charging infrastructure in their sites, but the build of such infrastructure is challenged and /or delayed due to power-constrained grid, and that is precisely the gap that we address and provide with a solution. We are excited to collaborate with one of the global giants of the car rental industry, to prove the uniqueness and significant added value that our solution provides this use case. This is a fourth significant pilot we are part of in the U.S., following the planned pilots with Blink Charging and ARKO convenience store chain, and only two months after we have announced another Pilot with the New York Power Authority. We are collaborating with reputable large-scale companies, throughout the U.S., which understand the need for ultra-fast charging of electric vehicles, further serving as the industry’s global trailblazer. These four pilots will be operational within a few months, and I believe they will accelerate our penetration into the U.S. market and further feed ZOOZ’s growth.” — Boaz Weizer, ZOOZ Power’s CEO

According to the agreement, ZOOZ’s proprietary system is to be installed at LaGuardia Airport in New York City. The partnership’s goal is to have the pilot site operational during the second quarter of 2023, and to have it operate for one year. During that time, ZOOZ will optimize its products to support the CRP’s specific use cases, and the CRP will determine whether it makes sense to deploy ZOOZ Power systems in other sites under its control.

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ZOOZ Power Signs MOU with Unnamed Rental Company to Build Ultra-Fast EV Chargers

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