ELECTREON

ElectReon (TASE: ELWS.TA), the leading provider of wireless and in-road wireless electric vehicle (EV) charging technology, announced it has signed a 5-year agreement with Dan Bus Company, an Israeli bus company, to expand its wireless charging network to support public electric bus routes in Tel Aviv and the wider metropolitan area. The implementation, costing $9.4M USD, will supply 200 electric buses with active charging at operational city terminals (stations) for buses between bus trips and while passengers board and disembark.

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This charging strategy will allow for the reduction of electrical grid connection capacities at the bus facilities and reduce vehicle battery capacity, size and weight for Dan Bus Company’s electric buses—curtailing fleet vehicle down-time and enabling extended operational hours. ElectReon will provide a full charging service at multiple operating terminals in the Tel Aviv Metropolitan Area and in Israel’s Southern District, for which Dan will pay a monthly fee for the complete charging service stack for approximately 200 electric buses. Dan elected to choose ElectReon’s Charging as a Service (CaaS) model, in which ElectReon finances the charging infrastructure at the terminals and provides operation services and maintenance throughout the length of the 5-year project. Additionally, the partners will explore the possibility of installing ElectReon’s wireless charging system for the rest of Dan's electric fleet and in Dan’s highway project 'Netivei Ayalon’.

In the first phase of the project, ElectReon will install its wireless charging system in 100 buses and at the major public transport terminal, Reading, in North Tel Aviv. As part of the second phase of the project that will take place within two years, the charging infrastructure will be expanded to other major terminals in Tel Aviv and in the south region of Israel, so that the company will provide wireless charging for about 200 buses in total.

“Not only will this be ElectReon’s first large-scale commercial project, it will also be a world-class showcase of wireless EV charging for fleet vehicles,” said Oren Ezer, CEO of ElectReon. “This will continue to demonstrate the improved efficiency and cost savings that electric bus fleet operators can expect by implementing wireless charging infrastructure.”

"In order to turn Dan's public transportation network in the Tel Aviv metropolitan area into a fully electric network, the company is currently establishing a charging infrastructure system and support for one of the largest public transportation operators in the region. We have tested ElectReon's technology and it has proven to be suitable for top-up charging at operational terminals as part of our day-to-day operations and workflows,” said Ofir Karni, CEO of Dan Bus Company, “This advanced technology is expected to enable our electric fleet to achieve greater range and extended operational hours while flattening peak energy consumption loads from overnight depot charging and simultaneously, allow us to maintain our essential maneuvering space and operational flexibility at our terminals. What is interesting that is out of an average 19 operational hours a day, one of our buses stands for about two hours in total at one of our terminals while drivers rest, switch over or wait to pick up passengers; according to our estimations, by just utilizing this time alone to charge the buses, we’re able to provide around 30% of the vehicle’s daily energy requirements.”

This agreement expands on the initial September 2020 collaboration between ElectReon and Dan Bus Company to deploy wireless EV charging infrastructure to actively charge a bus from a half mile of electrified wireless roadway between Tel Aviv University and the nearby train station as well as wireless stationary charging stations installed at the bus terminal at the beginning of the bus route. The bus operator was able to reduce the vehicle battery capacity by 90% by enabling the bus to actively charge while driving as well as increase vehicle operational hours due to the fact that less downtime for charging was required.

“We are proud to be expanding the ElectReon network in Tel Aviv significantly just a year after the initial pilot and our collaboration with Dan began,” said Ezer. “This momentum signals the growing need today for EV charging solutions across the global transportation market beyond the traditional charging station that enables a more seamless transition to electrification.”

Adding to the efficiency of the wireless charging infrastructure, the expanded agreement also includes ElectReon providing Dan Bus Company with a Charging as a Service (CaaS) financing model which will demonstrate the feasibility of the innovative financial model for the company and its customers globally.

About ElectReon

ElectReon is the leading provider of wireless charging solutions for electric vehicles (EVs), providing end-to-end charging infrastructure and services to meet the needs and efficiency demands of shared, public and commercial fleet operators and consumers. The company’s proprietary inductive technology dynamically (while in motion) and statically (while stopped) charges EVs quickly and safely, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs—making it one of the most environmentally sustainable, scalable, and compelling charging solutions available today. ElectReon works with cities and fleet operators on a charging as a service (CaaS) platform that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation. For more information, visit electreon.com .

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