ZOOZ Power is a company that develops, manufactures, and markets revolutionary power boosters to enable and accelerate the widespread deployment of electric vehicle (EV) ultra-fast charging infrastructure.
Interview with Eyal Blum, Chief Bussines Officer at ZOOZ Power.
A brief description of the company and its activities.
Eyal Blum: We have been publicly traded in Israel since March 2021 following an IPO on the TASE, and we listed on the NASDAQ on April 5, 2024. With over 40 employees and 26 approved patents, ZOOZ Power is focused on providing solutions to the challenge of increasing demand for ultra-fast EV charging and the limitations of existing grid infrastructure to support these higher power requirements.
What are the main areas of activity of the company?
E.B: At ZOOZ Power, we provide innovative solutions to manage and optimize EV charging sites with limited grid capacity. Our technology, which combines advanced energy management systems (EMS) and the ZOOZTER power booster, bridges the gap between the grid’s limitations and the demand for ultra-fast charging. By deploying one or more ZOOZTER units, we enable charging sites to support 2 to 10 ultra-fast chargers, even when the grid capacity is insufficient. This approach eliminates the need for costly grid upgrades and ensures efficient, continuous charging performance
What’s the news about new products/services?
E.B: ZOOZTER™-100 is a kinetic power booster which boosts the grid with bursts of power, allowing smooth and continuous ultra-fast EV charging, thus circumventing the need for a grid upgrade. The ZOOZTER™-100 charges up with available power present in the grid, converts and stores it as kinetic energy, and discharges back to the grid upon demand a burst of power, on top of the grid’s power.
The resulting combined throughput is sufficient to charge the EV battery in minutes scale. The ZOOZTER™-100’s integrated Energy Management System (EMS) software expertly manages power distribution within the site’s micro-grid. It bridges the gap between available power and peak energy demand, effectively preventing over-consumption that could lead to power cuts from switchgear tripping. Unlike other EMS solutions, the ZOOZTER™-100 achieves this unique capability due to its strategic placement of switchgear, offering unparalleled protection against power interruptions in critical environments.
What is the state of the market where you are currently active?
E.B: The market for our solutions in Germany and Israel is growing rapidly, driven by the urgent need for ultra-fast EV charging in areas with limited grid capacity. In Germany, we’ve successfully deployed our ZOOZTER-100 at four sites, including two in Herrenberg operated by CPO Mer, and installations at Reiskirchen and Weiterstadt run by CPO Parkstrom. A fifth site is underway, showcasing our ability to significantly increase charging power without costly grid upgrades.
In Israel, we’ve made significant strides along the Cross-Israel Highway, installing our solution at two Dor-Alon stations in partnership with Afcon EV. We’ve achieved a world first by powering four 150kW ultra-fast chargers with just a 300kW grid connection. The demand for our solutions stems from limited grid capacity, accelerating EV adoption, and the need for cost-effective solutions for Charge Point Operators. Our success in these markets is just the beginning – will expect to announce projects in the UK and the US too soon and we’re excited to replicate this growth globally, accelerating the transition to electric mobility.
What can you tell us about market trends?
E.B: As EV adoption grows, the demand for ultra-fast charging continues to increase. However, the higher power levels required for ultra-fast charging are expected to exceed the capacity of today’s grid transmission and distribution systems in many areas. Upgrading the grid to handle these higher power demands involves complex, expensive and lengthy processes.
Currently, ultra-fast EV chargers can only be installed in areas with access to high-voltage lines and sufficient grid power. Upgrading the existing infrastructure in those areas might take several years even if the funding is available.
We are solving the bottleneck between growing ultra-fast charging needs and limited grid capabilities by providing our bridging solution that maximizes existing grid capacities until full grid enhancements can be implemented.
What are the most innovative products/services marketed?
E.B: Our most innovative product is the ZOOZTER-100, a flywheel-based power booster system that provides a cost-effective, sustainable, and flexible solution for enabling ultra-fast EV charging. The ZOOZTER-100 leverages advanced materials, such as a unique grade of high-strength steel, and innovative design features, including a vacuum-sealed housing and magnetic bearings, to optimize energy storage, efficiency, and safety.
By using a flywheel-based approach rather than chemical batteries, our technology avoids the need for critical minerals like lithium and cobalt, making it a more sustainable solution for the energy storage market. Additionally, the modular and re-deployable nature of the ZOOZTER-100 allows charging network operators to adapt the infrastructure to changing needs and leverage existing grid capacity more effectively.
What estimations do you have for 2024?
E.B: For the remainder of 2024 we will continue to strengthen our foothold in Israel and Germany, and progress projects in the US and the UK as well as explore new regions. Our strategy is to partner with leading Charge Point Operators (CPOs), fleets and energy companies in each region.
The easily relocatable nature of our power boosters is a key selling point in our international expansion. This feature maximizes value for our partners and accelerates charging infrastructure rollout, allowing us to quickly enter new markets and adapt to changing needs.
By focusing on these strengths, we aim to position ourselves as a global leader in enabling rapid, flexible deployment of ultra-fast charging infrastructure, supporting the worldwide transition to electric vehicles.
How do you see the future?
E.B: Looking ahead, we’ll continue to create new partnerships with CPOs, fleet depots and any customers creating EV charging sites that need to supplement the available grid power. We’re also focused on innovating and expanding our product range to help provide our clients with even greater flexibility and performance to meet their evolving energy needs.