ADS-TEC Energy GmbH (“ADS-TEC Energy”) (the “Company”), a leading company in battery-buffered ultra fast charging technology, announced its expansion into the United States with the establishment of a US subsidiary, and the appointment of a key executive for sales, including the hiring of an experienced US sales team.
The establishment of a US subsidiary accelerates the Company’s planned expansion into the US, due to positive market momentum around the EV ecosystem as well as significant potential customer interest. As part of ADS-TEC Energy’s expansion into the US, the Company announced that John Neville has joined as Chief Sales Officer and a member of the executive management team. Mr. Neville is a seasoned executive with a strong track record in building successful emerging market organizations for over 30+ years.
“We are thrilled about the significant customer interest we have received and pleased to be able to expand our business into the US ahead of schedule to take advantage of the substantial momentum we are seeing in our industry,” said Mr. Speidel. “Being able to add a successful and experienced executive like John to help us undertake that expansion provides testament to the institutional business we have built and to the future of ADS-TEC Energy. I am excited to work with John, and the rest of the ADS-TEC Energy team, as we continue to accelerate the intelligent transition to an all-electric world.”
“ADS-TEC Energy has developed truly differentiated technology platforms that help address a major bottleneck in the transition to e-mobility, and I am honored to have the opportunity to help further their expansion and growth around the world,” said Mr. Neville. “This opportunity is a natural fit given my experience, and I share the Company’s mission of creating more sustainable societies for the future.”
As announced on August 11, 2021, ADS-TEC Energy entered a business combination agreement with European Sustainable Growth Acquisition Corp. (NASDAQ: EUSG) (“EUSG”), a publicly traded special purpose acquisition company focused on identifying Europe-based, high growth, technology-enabled businesses that utilize green technologies. A substantial portion of the proceeds from the transaction will be used to accelerate the expansion of ADS-TEC Energy’s storage solutions, charging and energy management platforms in the U.S. and Europe and continue the development and enhancement of the company’s existing technology platforms.