Successful Pilot Project: Elicom Continues to Implement PowerBooster Battery Storage Solution From ADS-TEC Energy

NÜRTINGEN, Germany--(BUSINESS WIRE)--Mar 24, 2025--

ADS-TEC Energy (NASDAQ: ADSE), a global leader in battery-based energy storage and fast-charging systems, today announced that Elicom is further deploying the PowerBooster battery storage solution from ADS-TEC Energy following a successful pilot project. Elicom is one of Sweden's leading partners for electrification and automation for industry, water and wastewater as well as public services.

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Battery Storage Systems by ADS-TEC Energy for Elicom

Elicom operates a series of vacation homes and has already successfully installed 12 of the planned 25 StorageRackSystems at these locations. Now, the energy infrastructure will be expanded with eight additional PowerBoosters, to be installed at an additional facility. The goal is to optimize self-consumption in combination with rooftop photovoltaic systems in order to maximize the efficiency of renewable energy use. The delivery and installation of the PowerBoosters is planned for May 2025 to ensure a timely commissioning of the system.

Successful pilot project paves the way for further collaboration

As part of an initial pilot project, Elicom and Polar Capacity delivered a test system to Stockholm Exergi and successfully put it into operation. This system marks the start of a more comprehensive collaboration. Elicom was responsible for the entire implementation - from installation to commissioning. At the center of the pilot project was the PowerBooster by ADS-TEC Energy. A high-performance battery storage system with around 130 kWh and 75 kW, that ensures a reliable and efficient energy supply. At a hotel in Lundsbrunn in the southern part of Sweden, five additional PowerBooster systems have been installed. The customer uses these solutions for peak shaving, frequency regulation (FCR-D), and local flexibility services for the regional grid operator. This once again demonstrates how versatile and cost-effective battery storage systems can be in a variety of applications. The successful implementation confirmed the advantages of this technology and laid the foundation for the now following projects.

Battery storage systems as the key to the energy transition

The increasing integration of renewable energies places high demands on a stable energy supply. Battery storage system solutions such as the PowerBooster from ADS-TEC Energy are essential for balancing out fluctuations and using surplus energy efficiently. They make it possible to provide solar and wind power exactly when it is needed and at the same time reduce dependence on fossil fuels. The StorageRackSystem is an indoor battery storage system, while the PowerBooster is a high-performance outdoor battery storage system that can store and flexibly supply large amounts of energy. Based on its high efficiency, it contributes to a sustainable energy supply. This technology facilitates the integration of renewable energies and creates the basis for a reliable, future-proof electricity infrastructure.

Thomas Speidel, CEO and founder of ADS-TEC Energy, notes: "The successful implementation of the first pilot project with Elicom and the continuation of the cooperation with eight additional PowerBoosters show how important high-performance battery storage systems are for a sustainable energy supply. In combination with photovoltaic systems, we enable our customers to make optimum use of renewable energies and achieve greater independence from the electricity grid. We look forward to actively driving forward the energy transition together with our partners."

About ADS-TEC Energy

Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and produces battery storage solutions and fast charging systems including their energy management systems. Its battery-based fast-charging technology enables electric vehicles to charge ultra-fast even with weak power grids and is characterized by a very compact design. The company, based in Nürtingen, Baden-Württemberg, was nominated for the German Future Prize by the Federal President and was included in the "Circle of Excellence" in 2022. The high quality and functionality of the battery systems is due to a particularly high level of in-depth development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for car manufacturers, energy supply companies and charging station operators.

More information at: www.ads-tec-energy.com

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 the delivery and installation of the PowerBoosters, 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 April 30, 2024, which is available on our website at https://www.ads-tec-energy.com 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.

Elicom deploys ADS-TEC Energy's PowerBooster battery storage solution in Sweden

TALLAHASSEE, Fla. (AP) — Once floated as the heir to Donald Trump’s GOP, Florida Gov. Ron DeSantis is used to getting his way in Tallahassee. He has wielded power like no other governor in the state’s recent history and enjoys a Republican supermajority in both chambers.

But as the governor approaches the end of his second term, that same supermajority is testing his power and checking his control over state spending and executive agencies, in a way DeSantis hasn't seen since he was elected in 2018.

For six years, DeSantis has kept lawmakers in line with his veto pen, bringing the statehouse’s then-leaders on stage in 2022 to stand behind him as he slashed $3 billion in the Legislature’s prized projects and smiled for the cameras.

“They may not be clapping about that,” DeSantis joked at the time, “but that’s just the way it goes.”

But when DeSantis returned to the Capitol for this year's session, he found an emboldened coequal branch of government willing to check and balance his power.

In recent weeks, Republicans and Democrats alike have grilled DeSantis administration officials on their spending, pushed legislation that would require agency heads live in the county where their department is headquartered, and advanced a proposal that would ban the use of state funds to advocate for or against a proposed constitutional amendment. That measure comes after DeSantis marshaled multiple state agencies to oppose two measures on the ballot in 2024 that would have legalized recreational marijuana and expanded abortion access.

Addressing his colleagues on the House floor Wednesday, Speaker Daniel Perez said “state government has a spending problem.”

“In the past, this House has justifiably called out local governments for misspending and mismanagement,” Perez said. “But we have been reluctant to turn our gaze on ourselves and hold state government to those same standards.”

Then, in another rebuke of DeSantis, the Florida House voted Wednesday to override the governor's vetoes of four items from last year's budget, totaling more than $5 million to help fund local water projects, a payroll system for state prisons and a program for veterans in crisis.

The veto overrides, which require a supermajority vote in both chambers, underscore lawmakers' willingness to push back against the popular Republican governor — and fiercely defend their own constitutional duty to craft the state's budget.

“This session, we have focused on restoring the institutional role of the Florida House of Representatives,” Perez said.

It is the second time that lawmakers have voted to override DeSantis' budget vetoes. The first came in January, when DeSantis called legislators back to the Capitol for a special session on immigration. In a bold act of defiance, lawmakers quickly tossed out the governor's proposals and laid out their own vision — and then voted to override his veto of $57 million for legislative support services, the first time in 15 years the Legislature had taken the move.

Republican state Rep. Michelle Salzman, who chaired one of the work groups overseeing the review of the governor's vetoes, called the process a “great opportunity."

“Many legislatures throughout America do this on a regular basis. So while it's something that we haven't done in a very, very, very long time, it's not something unique,” Salzman said. “It is the checks and balances of the government.”

Also on Wednesday, Perez announced a proposal for the state to permanently lower its sales tax from 6% to 5.25%, at a time when DeSantis has been pushing to roll back the state's property taxes.

Speaking to reporters, Perez voiced support for cutting property taxes. But he raised questions about how the governor's proposal could impact local services like fire departments and police forces.

“If the governor were to give us a proposal, we can have that conversation,” Perez said.

Democrats, who have long criticized the governor but are far outnumbered in the state Capitol, have cheered their Republican colleagues' willingness to exercise their independent authority in overriding the governor's vetoes.

“It’s great to see that the Legislature is flexing its coequal branch of government muscle,” Democratic state Rep. Kelly Skidmore told reporters.

The votes send a message to the governor, she said, “that you’re not in charge as much as you thought you were.”

FILE - Gov. Ron DeSantis speaks during a meeting with the state cabinet, at the Florida capitol in Tallahassee, Fla., Wednesday, March 5, 2025. (AP Photo/Rebecca Blackwell, File)