SPX and Aker Wade Collaborate to Fast Charge Electric Vehicles
Advanced Charger Technology Development Addresses EV Range Anxiety for Global Markets
WARREN, MI and CHARLOTTESVILLE, VA, February 3, 2012 – SPX Service Solutions, a business unit of SPX Corporation (NYSE: SPW), and Aker Wade Power Technologies, LLC, announced today the signing of a letter of intent to jointly develop a family of practical EV fast chargers for the global vehicle market.
These new charge stations will utilize an all-in-one connector from SAE that provides Level 1, 2, and DC Fast Charging for any EV, with a power level that permits fast charging. A typical 100-mile range EV with a 25kWhr battery pack can add an additional 50 miles in less than 20 minutes, and deliver a full charge of 100 miles in approximately 40 minutes. The first product, a 30kW dealership-based unit, will be available in North America and Europe and meet SAE and IEC standards.
“DC fast charge infrastructure will reduce range anxiety, which will encourage the more widespread adoption of EVs,” said Tanvir Arfi, president of SPX Service Solutions. “With SPX’s global presence and Aker Wade’s expertise in fast charging, we can offer a solution that will allow dealer networks to play an active role in EV sales and customer service.”
“Aker Wade and SPX have been actively contributing to the development of a common global standard for DC fast charging,” said Duncan Brown, chief executive officer of Aker Wade. “Implementing this standard will allow dealers to invest in DC fast charging infrastructure with confidence.”
The new charge station is designed to be a low-cost, wall-mounted indoor unit aimed initially at vehicle dealerships. It features an ergonomically designed connector handle for easy and safe operation and utilizes high frequency power conversion technology for efficient power delivery. Future products leveraging the same technology will be launched to accommodate outdoor applications such as retail and public locations and other global charging standards/protocols.
The letter of intent signed by SPX Service Solutions and Aker Wade outlines parameters for a partnership that is expected to be formally established in Q2 2012. Details will be released at that time, along with details of the fast charger expected to be available by early 2013.
About SPX Service Solutions
SPX Service Solutions is a leading global developer and manufacturer of advanced diagnostic systems and service solutions for automotive original equipment manufacturers (OEMs), their dealer networks, and retail and aftermarket channels. The business also provides consulting, strategy and technical information for vehicle servicing and maintenance, as well as for charging and the servicing of electric vehicles. For more information visit www.servicesolutions.spx.com.
About Aker Wade Power Technologies LLC
Aker Wade designs and manufactures advanced fast charging systems for electric vehicles and industrial forklifts. Founded in 2000, Aker Wade is the leading provider of fast charging technology for Fortune 1000 companies, servicing markets in the U.S., Europe and Asia. Aker Wade is collaborating with vehicle manufacturers to deliver advanced DC fast charging solutions for the future generation of EVs. Aker Wade is proud to engineer and manufacture its products in the U.S. www.akerwade.com.
Contacts:
SPX
Jennifer H. Epstein (Media)
704-752-7403 / 704-804-3717
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Ryan Taylor (Investors)
704-752-4486
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Aker Wade
Renee McClelland
810-922-5821
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