ADS-TEC Energy continues to advance in the Netherlands: joint venture as part of NXT Mobility / GP Groot wins tender for the northwest of the country

• NXT 50five, the joint venture between 50five and NXT Mobility as part of the GP Groot initiative, has won the MRA-Electric tender to install and operate public rapid charging stations supplied by ADS-TEC Energy
• The tender covers the installation, management and operation of rapid charging points at up to 600 locations
• Most of the MRA-E area faces network congestion, making it ideal for battery-buffered rapid charging solutions from ADS-TEC Energy
• NXT 50five is already preparing the installation for the first nine of up to 200 rapid charging stations

Rapid charging stations from ADS-TEC Energy (NASDAQ: ADSE) will soon be more widely available in the Dutch provinces of Noord-Holland, Utrecht and Flevoland as NXT 50five wins a tender from the Metropolitan Region of Amsterdam – Electric (MRA-E).

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ADS-TEC Energy rapid charging stations will soon be more widely available in northwest Dutch provinces as NXT 50five wins a tender from the Metropolitan Region of Amsterdam – Electric (Photo: Business Wire)

This is the first time that municipalities in the Netherlands have come together to launch a joint tender for rapid charging stations. More than three-quarters of the 74 communities in the northwest region are involved in this new milestone in the implementation of a nationwide rapid charging network for electric vehicles.

NXT 50five’s success demonstrates the benefits of battery-buffered rapid charging solutions from ADS-TEC Energy, as unlike conventional rapid charging stations, they are suitable for many more locations and can be connected anywhere with minimal effort.

Intelligent solution for areas with network congestion

The majority of the MRA-E area faces network congestion. Given the increasing demand for electric vehicles and the charging infrastructure these require, NXT 50five can meet the challenges of limited networks using ADS-TEC Energy products. The ultra-fast platform solutions from ADS-TEC Energy are battery-buffered and enable rapid charging speeds even on limited grids.

Erik Metselaar, Director of NXT Mobility, says: “This technology enables us to lead the transition to sustainable mobility, even in areas where the electricity grid does not allow it. It is a game changer for the rollout of our network and for the future of electric driving in the Netherlands.”

NXT 50five is one of the three companies awarded the concession, along with Shell and TotalEnergies. Over a period of four years, the joint venture will equip up to 200 locations. Implementation has already started, with NXT 50five currently preparing the installation of the first nine stations.

Thomas Speidel, CEO of ADS-TEC Energy: “Winning this tender highlights the appeal of our products. Our technology allows rapid charging infrastructure to be rolled out much faster. We’re delighted with the positive synergies resulting from this joint venture. Together, we’re accelerating our vision and commitment to a sustainable mobility transition.”

About ADS-TEC Energy

ADS-TEC Energy plc, a public limited company incorporated in Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as a holding company for ads-tec Energy GmbH, our operating company incorporated in Germany (“ADSE GM”) and ads-tec Energy Inc., a US subsidiary of ads-tec Energy GmbH (“ADSE US” and together with ADS-TEC Energy and ADSE GM, “ADSE”). Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and manufactures battery storage solutions and fast charging systems including their energy management systems. Its battery-based, fast charging technology enables electric vehicles to ultrafast charge even on low powered grids and features a very compact design. It was most recently nominated by the President of the Federal Republic of Germany for the German Future Prize and elevated to the "Circle of Excellence" in 2022. The high quality and functionality of the battery systems are due to a particularly high depth of development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for automotive, OEMs, utility companies and charge-operators.

More information: ads-tec-energy.com

About NXT 50five

NXT 50five is a partnership between NXT Mobility and 50five aimed at developing a public rapid charging network for electric vehicles. NXT 50five aims to accelerate the transition to electric driving in the Netherlands by focusing on setting up rapid charging stations in areas with network congestion and providing charging services for cars and trucks. 50five is one of the largest providers of electric vehicle (EV) charging infrastructure in Belgium, Germany, the Netherlands, Luxembourg and the United Kingdom. NXT Mobility offers charging solutions for electric vehicles as well as environmentally and climate-friendly fuels, and operates NXT Energy Hubs, the filling stations of the future. NXT Mobility is part of the GP Groot Group.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding our expectations with respect to future performance and the anticipated timing of certain commercial activities. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: the impact of the COVID-19 pandemic, geopolitical events including the Russian invasion of Ukraine, macroeconomic trends including changes in inflation or interest rates, or other events beyond our control on the overall economy, our business and those of our customers and suppliers, including due to supply chain disruptions and expense increases; our limited operating history as a public company; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales to a limited number of customers for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions and expense increases; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe and the U.S.; the effects of competition; changes to battery energy storage standards; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under “Item 3. Key Information – 3.D. Risk Factors” in our annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on May 11, 2023, which is available on our website at https://www.ads-tec-energy.com/en/company/invest and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

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