ADS-TEC Energy, a German provider of battery-based fast charging technology has announced a joint venture with Swedish company Polar Structure. Polar will become the preferred strategic distribution partner for ADS-TEC Energy’s technology platforms in Northern Europe.
The two partners are offering a model of ‘infrastructure-as-a-service’. According to ADS-TEC Energy, this business model is based on the expansion of various services for sustainable development applicable for both municipalities and commercial retail. This includes charging infrastructure for electric vehicles and battery storage systems. The two companies have not yet revealed how much they plan to invest in the joint venture or by when it will be established.
Polar Structure, says that under the agreement, it will also commission a fast-charging system and a commercial battery system from ADS-TEC Energy for the first time. “Polar is on the forefront of ensuring our infrastructure is positioned for the ongoing transition to an all-electric economy,” said Thomas Speidel, CEO and founder of ADS-TEC Energy. “The Nordics are leaders in building sustainable communities for the future, and as such, Polar represents an ideal partner that shares our vision and will help bring our industry-leading battery-buffered technology to the Nordic region, starting in Sweden,” he revealed.
ADS-TEC Energy announced its US IPO in summer this year via a merger with a SPAC. A US subsidiary was established in early October.
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