June 22, Barcelona, Spain, Wallbox N.V., (NYSE:WBX), a leading provider of electric vehicle (“EV”) charging and energy management solutions worldwide, performed live demonstrations of its first CCS bidirectional charger, Quasar 2, showcasing vehicle-to-home (“V2H”) and vehicle-to-grid (“V2G”) capabilities with a CUPRA BORN 77kWh, the first EV with confirmed compatibility with Quasar 2.
The demonstration occurred at Power2Drive this year at the Smarter E Europe event in Munich, Germany. Full Compatibility with other next-generation EVs is expected in the coming months.
Wallbox, the manufacturer of the world’s first DC bidirectional EV home charger, announced that the first projects for Quasar 2 will be launched in Q4 of this year in Europe.
“Bidirectional charging unlocks the largest battery available in a home system: an EV battery. As our energy needs increase, the potential impact of bidirectional charging to democratize energy becomes undeniable,” said Guillem Iváñez, Head of Bidirectional Charging at Wallbox. “As the first manufacturer to launch a bidirectional charger in the market, and the first to confirm compatibility with a CCS vehicle, Wallbox has proven product readiness and the ability to lead the way in the new energy paradigm.”
Wallbox also offered a demonstration of Quasar 2’s power recovery feature, designed specifically for the acute need for backup power. This feature illustrates that EV chargers can go beyond energy efficiency and grid services, providing a critical load to a home during power outages. Blackouts such as this have become increasingly common around the world, due to a rise in natural disasters and an aging electricty grid.
Quasar 2 enables EV owners to save on home energy costs through V2H and V2G functionalities. Studies show that by utilizing bidirectional charging, users can save up to 1,000€ annually, live more sustainably, and help balance mounting pressure on the grid.
Quasar 2 transforms an EV into a powerful energy device. On average, an EV can power a European home for over 3 days. Through the Wallbox app, users can automatically schedule charging sessions at times when energy rates are low or solar energy is available, and discharge their car to power their home when rates are high, during hours of peak energy usage.
Users who have solar panel installations can also store excess energy in their EV during low usage periods and then harness this energy at another time, including peak periods, to reduce their reliance on the grid while allowing users to be more energy autonomous and live more sustainably.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users’ relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 113 countries around the world. Founded in 2015 and headquartered in Barcelona, the company now employs more than 1,250 people in its offices in Europe, Asia, and the Americas. For additional information, please visit wallboxjordan.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the private placement. The words “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “”target,” will,” “would” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; as well as the other important factors discussed and incorporated by reference under the heading “Risk Factors” in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022, and as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallboxjordan.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Press Contact:
Elyce Behrsin, Head of Global Public Relations, [email protected]
Investor Relations Contact:
Matt Tractenberg, Vice President of Investor Relations, [email protected]
*Maximum savings assuming a user with access to a tariff Time of Use tariffs with a given delta between on and off peak periods prices. No grid or retailer fees, taxes or levies are considered. Parameters for the simulation: Electricity house consumption of 7880 kWh per year, no PV installation and EV is plugged in one weekday per week and the entire weekend. Wallbox does not guarantee the savings. Final savings depends on the country, electricity tariffs available, consumption profile, PV installation and EV usage profile.