ZOOZ

ZOOZ Power's Deployment: ZOOZ Power has successfully launched its ZOOZTER™-100 kinetic power booster at a New York Power Authority site, marking its first deployment in the U.S. utility market to enhance ultra-fast EV charging capabilities while addressing grid constraints.

Impact on EV Charging Infrastructure: The system improves power efficiency and charging speed for electric vehicles, showcasing ZOOZ Power's commitment to sustainable energy solutions and the potential for broader implementation across additional locations in North America.

ZOOZ Power's New Offerings: ZOOZ Power has introduced an Energy Storage System (ESS) and enhanced Energy Management System (EMS) to improve EV charging performance and cost efficiency, allowing operators to store energy during off-peak times for use during peak demand.

Sales Team Expansion: The company is expanding its global sales team, appointing Ilan Tevet as Vice President of Global Sales, and adding new sales managers in key markets like the UK, Germany, and France to support its growth in the electric vehicle sector.

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Financial Performance: ZOOZ Power reported a revenue increase of 36% in 2024, reaching $1.04 million, while also doubling the number of systems sold compared to 2023. The company experienced a net loss of approximately $10.99 million for the full year, slightly improved from the previous year's loss.

Operational Expansion: The company is focusing on global expansion, particularly in Germany and France, and has successfully deployed its flywheel-based power boosting technology at multiple sites, including partnerships with charge point operators and the New York Power Authority.

ZOOZ Power's Expansion into China: ZOOZ Power Ltd. has shipped its first flywheel-based power-boosting system, the ZOOZTER-100, to China, aiming to penetrate the rapidly growing electric vehicle (EV) market and enhance charging infrastructure through partnerships with local companies like Yixiaoju Technology Co., Ltd.

Significance of the Chinese EV Market: With nearly 50% of total car sales in China being electric vehicles in 2024, ZOOZ Power's technology is positioned to meet the increasing demand for efficient charging solutions while supporting China's electrification goals and reducing strain on local electricity grids.

ZOOZ Power's Investor Conference Participation: ZOOZ Power Ltd. announced that CEO Erez Zimerman will participate in Benchmark's 13th Annual Discovery One-on-One Investor Conference on December 11, 2024, in NYC, where he will be available for one-on-one meetings with investors.

Innovative Charging Solutions: ZOOZ Power specializes in Flywheel-based power boosting and management solutions aimed at enhancing ultra-fast EV charging infrastructure, addressing the challenges posed by limited grid capacity as the demand for electric vehicle charging continues to rise.

ZOOZ Power's Financing Agreement: ZOOZ Power Ltd. has entered into a Standby Equity Purchase Agreement (SEPA) with Yorkville Advisors, allowing the company to sell up to $12 million in ordinary shares over two years to support its growth and capital needs.

Strategic Use of Funds: The SEPA provides ZOOZ with flexible financing options, enabling the company to control the timing and volume of equity sales while enhancing its ability to deploy ultra-fast EV charging infrastructure.

ZOOZ Power Presentation Announcement: ZOOZ Power Ltd will present at the LD Micro Main Event XVII in Los Angeles on October 30, 2024, with CEO Erez Zimerman leading the presentation and management available for one-on-one meetings.

Company Overview: ZOOZ Power specializes in Flywheel-based power boosting solutions for ultra-fast EV charging, aiming to enhance charging infrastructure efficiency while addressing grid limitations.

New CEO Appointment: ZOOZ Power Ltd has appointed Erez Zimerman as its new Chief Executive Officer, effective September 17, 2024. Zimerman brings extensive experience in hardware, software, and chemistry, having previously led a successful turnaround at Massivit 3D.

Company Overview: ZOOZ Power specializes in Flywheel-based power boosting solutions for ultra-fast electric vehicle charging, aiming to enhance efficiency and sustainability in charging infrastructure while addressing grid limitations.

Financial Performance: ZOOZ Power reported a revenue of approximately $543 thousand for the first half of 2024, with a net loss of about $5.2 million, while cash reserves increased to around $11.2 million compared to the previous year.

Operational Developments: The company successfully completed a business combination, enhanced its sales and marketing efforts, entered the UK market, and deployed its Flywheel-based power solutions at key charging sites in Israel, aiming to improve operational efficiency and expand its market presence.

ZOOZ Power's Expansion in Germany: ZOOZ Power has successfully deployed its flywheel-based ZOOZTER-100 power management solution at four sites in Germany, with a fifth site confirmed to open soon, enhancing ultra-fast EV charging capabilities without the need for costly grid upgrades.

Impact on Charge Point Operators: The implementation of ZOOZTER-100 units is improving charging infrastructure utilization and revenue opportunities for Charge Point Operators (CPOs), while supporting the growing demand for electric vehicles in Europe's largest market.

Upcoming Conference Call: ZOOZ Power Ltd. will hold a Zoom conference call on August 1st, 2024, at 8:30 AM ET to provide updates, featuring Chairman and Interim CEO Avi Cohen.

Company Overview: ZOOZ specializes in flywheel-based power management solutions for ultra-fast EV charging, aiming to enhance charging infrastructure efficiency while addressing grid limitations.