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ADS-TEC Energy merges with EUSG

ADS-TEC Energy joins forces with European Sustainable Growth Acquisition, enabling it to be listed on Nasdaq. |ADS-TEC Energy groups with European Sustainable Growth Acquisition, enabling it to be listed on Nasdaq.
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ADS-TEC Energy groups with European Sustainable Growth Acquisition, enabling it to be listed on Nasdaq.

ADS-TEC Energy floats on Nasdaq

ADS-TEC Energy and European Sustainable Growth Acquisition Corp (EUSG) announce that they have entered into a definitive business combination agreement.
Upon closing of the transaction, the combined entity will be named ADS-TEC Energy and will be listed on the Nasdaq Capital Market.
The pro forma market capitalization of the combined company is approximately $580 million.
EUSG has also secured commitments of $156 million fully subscribed through a private placement of shares (PIPE) at $10 per share.
Part of the proceeds of the PIPE will be used to finance the cash consideration required to complete the business combination.
A significant portion of the transaction proceeds will be used to accelerate the expansion of ADS-TEC’s storage solutions, charging platforms and energy management solutions in the United States and Europe.
It will also enable further development and enhancement of the company’s existing technology platforms.
To facilitate this expansion, ADS-TEC intends to increase its presence and operations in the United States.

Committed to transition

“Our vision is to provide platforms accompanied by long-term services that will accelerate the intelligent transition to an all-electric world […] by offering charging speeds and capacities that would not be possible on existing networks. We will also strive to make electric vehicle charging accessible to all […]”, says http://energynews.pro/wp-content/uploads/2022/07/RENTEL-POWERPLUG-KLOET-061dd11042019-7.jpeg Speidel, CEO and founder of ADS-TEC Energy.

With hundreds of battery-buffered Charge Box platforms already delivered and certifications in the US and European markets, ADS-TE is well positioned for rapid global expansion.
This is because the need for ultra-fast charging capabilities is growing with the transition to an all-electric economy.
ADS-TEC Energy’s management team, led by http://energynews.pro/wp-content/uploads/2022/07/RENTEL-POWERPLUG-KLOET-061dd11042019-7.jpeg Speidel, will continue to manage ADS-TEC after the transaction.

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