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Smart City Capital picks ADS-Tec for EV charging
- October 25, 2021
- Steve Rogerson
Florida-based smart city accelerator Smart City Capital has selected German firm ADS-Tec Energy as its main electric-vehicle (EV) charging supplier.
ADS-Tec Energy specialises in battery-buffered fast charging technology. Smart City Capital provides financing for the creation of smart and sustainable cities. The agreement sees ADS-Tec Energy become a leading provider of EV charging technology in future smart city developments.
Initially, they are partnering to create a smart city in one of south Florida’s largest counties. The partnership approach includes financing elements that tap into federal, state and local subsidies and the benefits of bundling multiple services, such as EV charging with broadband services, with the aim of reducing operating costs such as fuel and maintenance, combined with more efficient infrastructure upgrades and revenue opportunities with EV charging.
The initiative aims to create a comprehensive and affordable framework for future rollouts and is attractive for cities to reach their sustainability and carbon reduction goals more quickly, and accelerate climate action, while reducing financing burdens.
“Smart City Capital is a master integration partner in the smart cities space, and we are thrilled to partner with them as their primary provider of ultra-fast charging technology,” said Thomas Speidel, CEO of ADS-Tec Energy. “Specifically, they bring a proven ability to create public private partnerships with local municipalities, state and federal governments and major corporations to bring the funding, engineering and installation resources and support for sustainability initiatives and the migration to a net-zero world. We look forward to working with them to help accelerate the transition to an all-electric world.”
Oscar Bode, CEO of Smart City Capital, added: “ADS-Tec Energy shares our goal of accelerating the shift to a carbon neutral economy, and are the ideal charging technology provider for our smart cities moving forward. Their decentralised, battery-buffered platforms are critical in the evolution and development of urban energy infrastructure and will bring ultrafast charging into our future smart cities, incentivising EV adoption by providing faster charging times and more accessibility to charging stations.”
In August, ADS-Tec Energy and European Sustainable Growth Acquisition, a publicly traded special purpose acquisition company focused on identifying Europe-based, high growth, technology-enabled businesses that use green technologies, entered an agreement on a business combination that would result in ADS-Tec Energy becoming a public company. ADS-Tec Energy also announced its intention to list on the Nasdaq Capital Market.
ADS-Tec Energy is part-owned by Bosch Thermotechnik. The company is headquartered in Nürtingen near Stuttgart, with a production site near Dresden.