Chakratec Wins Electric Vehicle Innovation & Excellence Award for Kinetic Energy Storage Solution

Chakratec is pleased to announce it won a special recognition in the Energy Storage EV Innovation category at this year’s Electric Vehicle Innovation and Excellence Awards (EVIEs). The Energy Storage EV Innovation category celebrates the introduction of new energy storage technologies, focusing on battery technology that’s used in conjunction with EV charging infrastructure and offers power procurement benefits or mitigation against the EV charging impact on the grid. Chakratec endured a rigorous judging process comprised of experts from across the global EV industry, who all deemed the startup worthy of a special commendation for its contribution to the reduction of CO2 emissions caused by transportation.

The EVIEs were created to highlight innovation and excellence in the emerging EV sector beyond the vehicle itself. The award categories include Chargepoint Manufacturer of the Year, Fleet Electrification Strategy of the Year and EV Start-Up of the Year, and recognize the role of the entire EV supply chain from automotive OEMs to technology companies and solution providers. The award ceremony took place virtually on 3 November 2020 from Bristol, UK, and hosted more than 250 attendees on the opening night of the EV World Congress, which is fitting because the co-located event’s mission is to inspire change and create the knowledge and networks to fast track the decarbonization of global road transportation.

Over sixty speakers presented at the EV World Congress, the world’s leading event series for driving collaboration, innovation and creating new partnerships in the EV space, and included the Director of Transport Innovation for the City of London, Michael Hurwitz, and the Director General of the Environment Centre for the City of Helsinki, Esa Nikunen. Sponsors for the EVIEs and EV World Congress included influencers in the industry such as Engie, NewMotion by Shell, ChargeMaster by BP, Grideserve, Siemens and more. Chakratec was recognized among the leading global public and private institutions driving change in the EV industry.

Chakratec received this award because its kinetic power technology provides a greener alternative to chemically-based EV batteries, and it enables customers (e.g. electric utilities, fuel retailers, charge point operators, automotive OEMs, fleet operators and property owners) to deploy sustainable EV charging stations at scale. Its kinetic battery offers an unprecedented 20-year lifespan, without depletion, because it allows unlimited high-power charge and discharge cycles, and costs one-tenth of charging traditional lithium-ion batteries. Its Kinetic Power Booster uses flywheel technology to provide customers with turnkey, high-powered EV charging stations that can be set up in a matter of days. This groundbreaking solution facilitates the deployment of fast and ultra-fast charging stations anywhere, including locations with limited grid infrastructure because the power booster allows charging stations to provide at least three times more power. This is especially beneficial for deployments in rural areas, and decreases operating costs by 70% because costly infrastructure upgrades are not needed. These turnkey charging stations also come with a managed service, meaning customers can set up their own micro-charging networks anytime.

Chakratec’s EVIEs win comes on the heels of the European Commission “Seal of Excellence” recognition in October 2020, further bolstering Chakratec’s standing in the European market. Chakratec’s highly innovative kinetic energy storage technology is a promising solution for advancing EV adoption across Europe by reducing range anxiety and breaking down the barriers for implementing widespread, fast, affordable EV charging stations. Chakratec will leverage these public recognitions to continue to bring accessible, sustainable and cost-effective EV charging to Europe

Energy Storage for EV Charging

In the Photo: Nir Zohar, Chakratec’s Co-founder & CCO accepting the award