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ADS-TEC Energy reported significantly lower sales in the first half, reflecting delays in electric vehicle (EV) infrastructure build-out and the change in its business model towards ‘owner and operator’ of assets. Original equipment sales should accelerate as EV adoption picks up, supported by the new contract wins announced this year, along with the positive developments being seen in the Commercial & Industrial division markets. Equally important is the change in business model to ‘owner and operator’ of EV charging equipment and the development of large-scale battery energy storage systems (BESS), which will build significant longer-term income streams rather than one-off capital sales. The first large BESS project with capacity of 1GW and potential revenue of c€230m at current rates is expected to be completed and operational in 2029.

ADS-TEC Energy reported significantly lower sales in the first half, reflecting delays in electric vehicle (EV) infrastructure build-out and the change in its business model towards ‘owner and operator’ of assets. Original equipment sales should accelerate as EV adoption picks up, supported by the new contract wins announced this year, along with the positive developments being seen in the Commercial & Industrial division markets. Equally important is the change in business model to ‘owner and operator’ of EV charging equipment and the development of large-scale battery energy storage systems (BESS), which will build significant longer-term income streams rather than one-off capital sales. The first large BESS project with capacity of 1GW and potential revenue of c€230m at current rates is expected to be completed and operational in 2029.

ADS-TEC Energy — Medium-term development remains positive

ADS-TEC Energy has been building a strong position in battery-buffered fast charging systems. To date the company has largely operated through unit sales with some additional services. The $50m gross fund raise will enable a shift to providing a complete system and service delivery model, enabling ADS-TEC to participate in longer-term revenues than its charging infrastructure currently offers, while customers will benefit from an outsourced business model. This should generate a more stable and longer-term revenue stream for the company and shareholders.

ADS-TEC Energy has been building a strong position in battery-buffered fast charging systems. To date the company has largely operated through unit sales with some additional services. The $50m gross fund raise will enable a shift to providing a complete system and service delivery model, enabling ADS-TEC to participate in longer-term revenues than its charging infrastructure currently offers, while customers will benefit from an outsourced business model. This should generate a more stable and longer-term revenue stream for the company and shareholders.

ADS-TEC Energy — Financing a long-term revenue stream

ADS-TEC reported record revenue, albeit below previous guidance, despite 2024 being a more challenging period for EVs and associated infrastructure-related companies and some revenue deferrals into FY25. Strategic progress has laid the foundation for some potentially significant roll-out programmes. In addition, the company has announced plans to develop longer-term, more stable business revenues through value-added services, aimed at helping customers operate their infrastructure and maximise commercial potential. We will update our forecasts on publication of the detailed FY24 results.

ADS-TEC reported record revenue, albeit below previous guidance, despite 2024 being a more challenging period for EVs and associated infrastructure-related companies and some revenue deferrals into FY25. Strategic progress has laid the foundation for some potentially significant roll-out programmes. In addition, the company has announced plans to develop longer-term, more stable business revenues through value-added services, aimed at helping customers operate their infrastructure and maximise commercial potential. We will update our forecasts on publication of the detailed FY24 results.

ADS-TEC Energy — Positive progress in 2024

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Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<ul>
<li>The WTR Sustainable Index was up 0.3% W/W versus the S&amp;P 500 Index (down 0.2%), the Russell 2000 Index (up 0.4%), and the Nasdaq Index (flat).</li>
<li>Energy Technology (13.4% of th  index) was down 3.0%, while Industrial Climate and Ag Technology (47.7% of the index) was down 0.1%, ClimateTech Mining was down 0.3%, and Advanced Transportation Solutions (20.8% of the index) was up 0.5%.</li>
<li>
Top 10 Performers: TMC, FGPHF, INVZ, GCEH, NXH, MP, WWR, PSIX, OUST, ADSE</li>
</ul>


The WTR Sustainable Index was up 0.3% W/W versus the S&amp;P 500 Index (down 0.2%), the Russell 2000 Index (up 0.4%), and the Nasdaq Index (flat).
Energy Technology (13.4% of th  index) was down 3.0%, while Industrial Climate and Ag Technology (47.7% of the index) was down 0.1%, ClimateTech Mining was down 0.3%, and Advanced Transportation Solutions (20.8% of the index) was up 0.5%.

Top 10 Performers: TMC, FGPHF, INVZ, GCEH, NXH, MP, WWR, PSIX, OUST, ADSE


Sustainable Investing Surveyor Focus on T1 Energy (TE)

ADS-TEC supplies intelligent energy storage and management systems supporting the energy transition, including electric vehicle (EV) charging. While the EV rate of adoption has slowed, the H124 results (sales +107%) demonstrate the benefits of ADS-TEC’s broader end-market applications and corporate customer base. With a positive EBITDA in the period, the group appears to be approaching operational cash positive, which we see as marking the transition to a sustainable growth company.

ADS-TEC supplies intelligent energy storage and management systems supporting the energy transition, including electric vehicle (EV) charging. While the EV rate of adoption has slowed, the H124 results (sales +107%) demonstrate the benefits of ADS-TEC’s broader end-market applications and corporate customer base. With a positive EBITDA in the period, the group appears to be approaching operational cash positive, which we see as marking the transition to a sustainable growth company.

Ireland

ADS-Tec Energy Public Limited Company operates as a battery-buffered charging Company. The Company provides storage solutions and fast charging systems. Ads-Tec Energy serves customers worldwide.

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ADS-Tec Energy (ADSE US)

ADS-TEC Energy — Medium-term development remains positive

ADS-TEC Energy reported significantly lower sales in the first half, reflecting delays in electric vehicle (EV) infrastructure build-out and the...

Edison Investment Research

ADS-TEC Energy — Financing a long-term revenue stream

ADS-TEC Energy has been building a strong position in battery-buffered fast charging systems. To date the company has largely operated through unit...

Edison Investment Research

ADS-TEC Energy — Positive progress in 2024

ADS-TEC reported record revenue, albeit below previous guidance, despite 2024 being a more challenging period for EVs and associated...

Edison Investment Research

Sustainable Investing Surveyor Focus on T1 Energy (TE)

The WTR Sustainable Index was up 0.3% W/W versus the S&P 500 Index (down 0.2%), the Russell 2000 Index (up 0.4%), and the Nasdaq Index (flat).

Water Tower Research

ADS-TEC Energy - Progressing to plan

ADS-TEC supplies intelligent energy storage and management systems supporting the energy transition, including electric vehicle (EV) charging....

Edison Investment Research

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