JOLT Established to Solve the Charging Crisis in Cities

JOLT Established to Solve the Charging Crisis in Cities 0 0 JOLT Energy

MOST PEOPLE WON’T BE ABLE TO CHARGE THEIR E-CARS AT HOME OR AT WORK

DUBLIN IRELAND – February 1, 2019 – Mid-Atlantic Partners, a Munich & Dublin based promoter of E-Mobility and Autonomous Driving solutions today announced the establishment of JOLT ENERGY.

Headquartered in Dublin with operational headquarters in Munich & later San Francisco, JOLT will build, own and operate a network of rapid-charging stations for e-cars in 100 European and North American cities.

Founded by a group of former top managers from Siemens, Continental, General Electric and Volkswagen Group, JOLT has developed a new technology and business model which will completely change the way we think about electric vehicle charging in urban areas.

“The new charging concept will allow customers to charge their DC chargeable e-cars to 80% in 30-45 minutes or while having a snack, doing some shopping or collecting the kids from school” says Ingvar Ersson, former Mitsubishi Chemical Manager and Chief Operating Officer of JOLT.

Jolt has identified the initial 100 cities where it will deploy between 300 and 800 chargers over the next seven years. Each charger will be equipped with standard charging connectors, in order to be attractive to the greatest number of customers. The cities will be prioritized according to E-Car uptake and city planning, permitting regulations, as well as financial support.

“Jolts technical innovation reduces the deployment time of fast-chargers from around 34 months to 12 weeks, allowing us to get an almost immediate fast foothold in key markets” according to Maurice Neligan, CEO of Jolt “we will own the entire infrastructure, so that cities and site partners will not have the effort to build and maintain their own stations –  a win-win for everyone”.

While technical details of the charging concept have not yet been released publicly, the new chargers are being co-developed by JOLT and two leading automotive players.

The exact location of the chargers is not yet fixed; however, Jolt is working closely with a number of global property operators in the retail, restaurant and fuel distribution sectors.

Asked what to expect regarding the cost of fast-charging a car? Frank Beicken, Chief Financial Officer of Jolt and Siemens veteran said “for sure more than slow charging at home but less than filling-up a comparable car with gasoline – the main driver is the enormous investment in Equipment“.

JOLT plans to introduce the first commercial lighthouse projects in 2020, depending on the experience from our pilot project

Asked about the challenges setting-up an e-mobility charging business, Neligan responded “its pheromonally exciting, we have the technology, we have the team, everyone says it’s a great idea but the biggest challenge is clearly the early stage financing”.

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