NEW PATENTED TECHNOLOGY FROM EO CHARGING SET TO TRANSFORM FLEET CHARGING

EO Charging (“EO”), a leading provider of technology-enabled turnkey solutions for electric vehicle (“EV”) fleets, has today announced the filing of a new technology patent that will transform the smart charging of EV fleets. EO’s new ISO 15118-compliant EV chargers and software will unlock the future integration of commercial EVs into the smart grid (“V2G”) and leverage AI and Machine Learning (“ML”) to provide both public and private fleets of cars, vans, trucks and buses with a more secure and cost-effective charging solution.

Since its introduction in 2014, functional implementations of the ISO 15118 standard have been predominantly used by DC charge point operators. Bringing learnings from operators already using Plug&Charge capable DC chargers across Europe, EO has harnessed the same communication technology but applied it in a fleet scenario where AC chargers are more widely utilised. EO can now perform smart AC charging on legacy fleet vehicles that are not compliant with the 15118 standard.

The new technology works by permitting a two-way exchange of information between EV and AC charging unit, removing the need for third-party telematics providers and reducing the hassle of large-scale fleet electrification. The EV charger automatically authenticates a vehicle’s ID, allowing the built-in software to assess state of charge (“SOC”) and regulate the charge session based on the vehicle’s operational requirements and the depot’s real time energy profile.

Charlie Jardine, CEO and Founder of EO Charging, said:

“Plug&Charge has had a hugely positive impact in the public charging space, creating a seamless and efficient charging experience for drivers. However, it was exclusive to DC charging stations and therefore financially prohibitive for many users.

“EO can now bring this technology to fleet operators, harnessing its benefits for our customers around the world and across multiple charging systems. We’re the first to introduce an integrated AC Plug&Charge charging solution for fleets, another step in our journey to becoming the global leader in powering electric car, van, truck and bus fleets.”

As more businesses and governments around the world invest in fleet electrification, pressure is growing on global electricity grids to meet charging demands. EO’s patented technology will help ease this pressure, using smart grid communication (V2G) to avoid peak grid consumption hours. In turn, this will also make fleet charging more cost effective for businesses by shifting charging patterns to when electricity is at its cheapest. A live trial of the new technology is scheduled with EO’s largest fleet customer in early 2022, for which EO has installed and manages more than 4,400 chargers in almost 70 depots, across 7 countries in Europe.

Richard Earl, R&D Director at EO Charging, said:

“Our patented technology not only brings significant benefits to fleet operators today, but also lays the groundwork for true V2G charging for the future across both AC and DC solutions. As we continue to expand into new markets like the U.S. and North America, our R&D team will continue to be heavily focused on V2G charging, as well as AI and ML based software technologies. We recognise these as a vital pillars of successful global fleet electrification,”

EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.

About EO

EO Charging is a leading technology solutions provider in the EV sector. EO deploys EV charging stations, hardware-agnostic cloud-based software, electrical installation, grid upgrades and ongoing service and maintenance for fleets. EO also provides this end-to-end solution for fleets that require mission critical infrastructure.

Founded in 2014, EO’s technology is used by a number of the world’s largest businesses and fleet operators and it now distributes to over 35 countries around the world. It aims to become the global leader in charging electric van, truck, bus and car fleets.

EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.

EO was ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies. To learn more, please visit www.EOcharging.com and follow us @EOCharging on Twitter and LinkedIn.