Wallbox Announces Six Month Milestones in The Acquisition of ABL, A German Leader in EV Charging

Published 7 months ago via Business Wire

Wallbox, a global leader in electric vehicle (EV) charging and energy management solutions, announced a number of key strategic milestones since their acquisition of ABL, an industry pioneer and German leader in EV charging. The integration of ABL into the Wallbox Group has already yielded encouraging results that will strengthen both companies' ability to support the EV transition.

"We are immensely proud of what we have achieved in the first six months following Wallbox’s acquisition of ABL," said Jaume Ferre, Co-CEO of ABL and CTO of Wallbox. "The synergies between our companies have allowed us to move forward quickly with product integrations. We only expect this cadence to continue and to strengthen our ability to set new standards for innovation, reliability, and customer experience."

Ferdinand Schlutius, Co-CEO of ABL, echoed this sentiment, stating, "The past six months have been a testament to the power of collaboration and having a shared vision. Together with Wallbox, we have already been able to reach important strategic milestones that not only strengthen our position in the market, but also give customers across Europe access to our state-of-the-art solutions."

Key Milestones:

  • The launch of the ABL Pulsar: The launch of the ABL Pulsar marks the first joint product from the acquisition. This innovative charging solution, which is based on Wallbox’s worldwide best-selling charger, Pulsar Plus, has been designed specifically to meet the unique needs of the German home-charging market. The charger is now available to customers throughout the DACH region.
  • Cross-selling to Wallbox customers: Wallbox launched the eM4 across Europe in March. The eM4, is a state-of-the-art EV charger designed by ABL, specifically for commercial and shared spaces such as fleets, public parking, workplaces and condominiums.
  • Joint participation in Light + Building Trade Show in Frankfurt, Germany: ABL made its presence felt at Light + Building, the first major trade show attended since its incorporation into the Wallbox Group. This trade show, which received over 151,000 visitors from around the world, provided an excellent opportunity to showcase the ABL Pulsar and the Group’s cross-selling strategy.
  • Co-development of a fast charging solution: ABL and Wallbox plan to launch a Supernova fast charger for public application in the German market. Given ABL’s extensive experience in German product compliance and Wallbox’s success developing reliable DC fast chargers, the Group expects to launch a DC fast charger in Germany later this year.
  • Integrated sales efforts: Wallbox and ABL have consolidated their DACH sales strategy. Led by ABL’s experienced team, the regional sales strategy leverages the Group’s strong combined portfolio, which covers the majority of the market's needs.

The integration of ABL into the Wallbox Group is another example of effective and continuous consolidations within the EV charging industry. ABL is the fourth company to join the Wallbox Group, and is complementary to previous acquisitions. Both Wallbox and ABL remain committed to driving forward the electrification of transportation and empowering individuals and businesses to embrace sustainable mobility solutions.

About Wallbox:

Wallbox is a global technology company, dedicated to changing how the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 100 countries around the world.

Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com

About ABL:

ABL has been producing charging stations for private, commercial and public use since 2011, making them one of the pioneers of electromobility. Today, ABL is one of the largest manufacturers of charging infrastructure in Europe. With its holistic eMobility product portfolio, ABL sets standards in the development of user-friendly charging infrastructure. ABL consistently pursues innovative approaches in product development and relies on high quality standards “Made in Germany” in production.

For more information, visit www.abl.de/en/

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the private placement. The words “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; as well as the other important factors discussed and incorporated by reference under the heading “Risk Factors” in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022, and as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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