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EV Battery Tech targets disrupting one of the fastest growing segments in the EV industry
VANCOUVER, BC, March 16, 2021 /CNW/ - Extreme Vehicle Battery Technologies Corp. (the "Company" or "EV Battery Tech") (CSE: ACDC) is pleased to officially announce the launch of its previously unveiled IoniX Pro EV Smart Charger Series (the "EV Smart Charger").
One of the World's Fastest Growing Markets
The Electric Vehicle (EV) market is one of the fastest growing markets in the world. Projected to grow almost 5x over the next 6 years1, the Company wants to ensure it was not only part of this rapidly growing revolutionary change, but also wants to be a disruptive force in it.
In order for EV's to grow at such a rapid pace, it is necessary that infrastructure be built to allow for such growth. One of the most obvious necessities are EV charging stations. Similar to the absolute requirement of gas stations for gasoline and diesel fueled vehicles to operate, it is equally important to build EV charging stations for EV's to be able to operate.
Billions of EV Charging Infrastructure Spending
EV infrastructure has become a global priority as major governments and corporations have committed to spending billions of dollars (USD) towards building EV charging infrastructure.
Royal Dutch Shell (Shell), one of the world's largest oil and gas companies, has recently announced its plans to increase its number of charging stations to 500,000 by 20252.
President Joe Biden has recently proposed to build 550,000 EV charging stations in the next few years, as part of the $2 trillion USD plan to fight climate change3.
"Smart Charger": A disruptive force for the EV Charging Industry
While it is clear that a significant increase in EV charging station infrastructure is necessary, EV chargers are not a new technology. Most EV chargers derive their power from the grid and transfer electricity into the EV to charge the EV's batteries.
EV Battery Tech is introducing a revolutionary new element to the basic EV charger. The Company has combined its Energy Storage System (ESS), which includes its patented and state-of-the-art Battery Management System (BMS) with an EV Charger to launch the revolutionary "Smart Charger". The Company is confident that this game-changing combination will help expedite the installation of EV infrastructure and disrupt the EV charging industry.
Key Features of the EV Smart Charger
The Company's patented BMS technology is powered by Artificial Intelligence (AI), which not only bolsters superior battery monitoring, but also allows for remote maintenance and machine learning capabilities. This technology is intended to provide greater efficiency, greater reliability and increased safety.
Powered by Renewable Energy
Given the intermittent nature of renewable energies such as wind and solar power, they are not a reliable source of power for EV charging stations. However, the Company's new EV Smart Charger is expected to solve the intermittent issue by storing the power and then discharging the electricity into the EV Charger even when the sun is not shining or the wind is not blowing. The EV Smart Charger's AI capabilities is expected to be more efficient with each use as the machine learning will target the best times to be charging and discharging to maximize safety as well as the life of the battery.
Arbitrage – Peak Shaving
By having the ability to store power, customers of the EV Smart Charger are able to charge the battery during the "offpeak" hours and then discharge the electricity into the EVs during "peak" hours. This spread between peak and offpeak hours, can be very significant in major cities, with the prices more than doubling or tripling in peak periods.
No Extra Connection Costs
As many building owners have learned, the addition of charging stations usually requires a significant connection cost by the power utility company. This is due to the increased power required during peak hours. However, since the battery can be charged during offpeak hours, the building owners are able to potentially avoid this connection fee, by running EV Smart Chargers and only discharging electricity to the EV's from the stored battery electricity.
Variability allows for a wide range of uses
EV Battery Tech's lineup of EV Smart Chargers will include a single charging station, a standard commercial dual charging station and most impressively, our rapid charging station which is expected to power an EV in less than 25 minutes.
The size of the battery and the speed of the charger are variable, so smaller sized units are suited for residential and recreational charging, commercial dual charging stations are customizable for parking garages and office buildings and larger sized rapid-charging models are targeted for roadside super-fast charging.
The company officially started pre-sales of the EV Smart Charger on their website www.ionixpro.com this morning at 5:00 am EST.
"Our brilliant design and engineering teams have done it again!" stated Bryson Goodwin, President and CEO of EV Battery Tech. "The Company has once again taken one of the fastest growing products and introduced what we expect to be a version that is far superior to anything else on the market today. We believe the EV Smart Charger will be one of best-selling products and we are very excited for this launch."
"To say we have had a busy start to the new year would be a massive understatement. We have no plans in slowing down, in fact, we have just scratched the surface of what's to come in 2021."
On behalf of the Company,
Chief Executive Officer
About EV Battery Tech
Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.
About AlphaOne Media Group Inc.
AlphaOne Media Group Inc. ("AlphaOne") is a full-service Investor Relations and Marketing company that focusses on both private and public companies. AlphaOne offers communication services such as investor relations as well as marketing services over several mediums to provide effective, thorough market awareness programs that are specifically designed to maximize exposure and bring value to shareholders. AlphaOne's dedicated and experienced team strives to promote its clients to the public and educate potential investors on their developments.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties, including the specific factors disclosed here and elsewhere in EV Battery Tech's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "hope", "could", "plan", "estimate", "expect", "intend", "may", "potential", "believe", "should", "projected", "proposed", "rendering" and similar expressions, are forward-looking statements.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements respecting (i) the Company's ability to bring its products to market; (ii) increasing demand for electric vehicles, charging stations, and other battery products, including those of EV Battery Tech; (iii) the timing of the launch of the IoniX Pro Smart Charging Station; (iv) the predicted shortage of EV infrastructure; (v) the US government's intention to increase its use of electric vehicles; (vi) the price point of the Company's products, including the IoniX Pro Smart Charging Station; (vii) the Company's ability to satisfy the demand for its products; (ix) the Company's prospects for 2021. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
SOURCE EV Battery Tech
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