From electreon.com
Israeli company ElectReon which develops electric roads, among other things, has announced its partnership with German electric mobility firm EnBW to construct the first wireless electric road (ERS) in Germany. EnBW will oversee the project and ElectReon will provide much of the technology, including an electric bus equipped with DWPT receivers and installation, operation, and maintenance services.
Possibly the biggest obstacle to the development of more electric vehicles and forms of public transportation is the lack of local electric infrastructure. ElectReon’s technology helps to expand such infrastructure.
The deal was revealed by the company in a letter to the Tel Aviv Stock Exchanged which was delivered on August 23. ElectReon expects to complete the first stage of this new project by the beginning of 2021. This project will be for shuttles. ElectReon has already begun projects in both Tel Aviv and Sweden. There is currently a test program of a one-kilometer stretch of road in Tel Aviv.
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So once again Israel has proven that it is at the forefront of green tech. Leave it up to the ingenuity of startup nation and Israel’s historic need to deal with shortages of just about everything to be the place to innovate in the area of energy. All Jerusalem and Tel Aviv residents will tell you about the continuous work on commuter light rail projects which have been ongoing in their respective cities for the last two decades.
And it is interesting that Israel’s ElectReon is making its first major move in Germany of all countries. Since the 1950s, when reparations payments over the Holocaust were first made, Israel and Germany have had very close ties in both the business sector and in defense. Just recently Israeli Air Force Pilots took part in a flyover in that country alongside German Air Force jets.
Electron CEO Oren Ezer told Calcalist, “We are very excited to see EnBW’s great commitment and support for advancing innovative technologies that can increase the penetration of electric mobility to Germany and globally. Germany is a global leader in prompting climate-related solutions and we believe that this project will be a great entry point for Electron’s solution to the German market.”
In June, ElectReon raised NIS 123 million (about $36 million) in an equity offering amounting to 12.4% of its share capital. This came after ElectReon’s share price more than doubled since the start of 2020. All this in spite of the global slowdown caused by the Coronavirus crisis.
Electreon is a publicly-traded, describing itself as a global leader in developing and implementing Wireless Electric Road Systems (ERS) – a shared, invisible platform that wirelessly charges commercial and passenger electric vehicles while driving by significantly decreasing battery size, cost and weight and improving operational efficiency, Electreon offers governments, cities and fleet operators the most sustainable and cost-effective solution on the way to 100% global electrification.
