Chakratec announced the approval of the Israel-U.S. Binational Industrial Research and Development (BIRD) Energy Program's match-funding for the Blink and Chakratec project for affordable, sustainable everyday DC fast-charging solutions.
The BIRD Energy Program is funded by the U.S. Department of Energy and Israel's Ministry of Energy together with the Israel Innovation Authority. Chakratec is partnering with US Blink Charging, to bring a robust DC fast charging solution to the United States which can be deployed practically anywhere, regardless of the location's existing power grid capabilities.
Today, DC Fast Chargers (50kW, 175kW, 350kW, and higher) provide the fastest electric vehicle (EV) charging speeds, making these high-power charging solutions only attainable in locations with sufficient grid power. Upgrading grid infrastructure is extremely costly. Even for cities that can afford the upgrade, the process can be sluggish, with an arduous approval processes, with various regulatory and bureaucratic procedures. Accordingly, most roads in the United States are unable to take advantage of DC fast charging technology, which is escalating the EV drivers' range anxiety for long-distance travel.
The project is expected to introduce cutting-edge DC fast charging technology to the United States based on Chakratec's kinetic energy storage technology which will be adopted to American UL standards from already deployed and proven systems in Europe. This will enable high-power charging, serving many EVs daily without straining the grid, and avoiding increased "high demand" charges from utility companies. The proprietary technology is chemical-free, environmentally friendly, fast reaction and able to provide an unlimited number of charging cycles (more than 200,000).
The project facilitates the deployment of DC Fast Chargers nationwide, regardless of the location's current grid status, without the need for costly upgrades. All of the DC Chargers will be connected to the Blink Network, which provides a comprehensive and easy-to-use service experience for drivers. The technology will enable Blink to offer a practical, inexpensive DC fast charging solution to the US market, making fast EV charging available anywhere and anytime. The build-out of this fast DC charging solution will further encourage the widespread adoption of electric vehicles.
Since its inception in 2013, Chakratec is introducing innovative and sustainable energy storage technology to the EV charging industry. The company has active deployment in Europe, and is looking to expand its operations to the US.
Chakratec will be exhibiting at this year's CES, together with the Israeli Pavilion powered by the Israeli export institute and ministry of economy and industry at the Eureka park.
"We are excited to begin the Blink-Chakratec project. The Chakratec technology has the unique capability of absorbing and storing peak loads in the power grid and utilizing the kinetically stored energy to enable DC Fast Charging anytime, anywhere. Additionally, this technology has the benefit of being entirely mechanical, not requiring the use of batteries, giving the charger a much longer life and ensuring it has minimal to no impact on our environment; we expect this project to make DC fast charging on the Blink Network a fast, economical, and easy way to charge wherever the road may take you," shared Michael D. Farkas, Chairman and CEO of Blink Charging.
"We are proud to collaborate with Blink Charging. This is another step in Chakratec's journey to introduce our unique kinetic energy storage system which enables ultra-fast EV charging. After successful deployments in Europe, this joint project with Blink will be our first in the North American market. We are positive that this project will benefit our companies and the EV industry, greatly. We hope to create a fast charging solution that will end US drivers' range anxiety once and for all," added Ilan Ben David, Chakratec's CEO.
The BIRD Energy Program began in 2009 as a result of the Energy Independence and Security Act of 2007. Since then and including the projects announced this past week, BIRD Energy has funded forty-nine projects with a total government investment of approximately $38 million, in addition to the $49 million in matching funds coming from the private sector. Each project is conducted by a U.S. and an Israeli partner. Selected projects address energy challenges and opportunities that are of interest to both countries and focus on commercializing clean energy technologies that improve economic competitiveness, create jobs and support innovative companies.
Date: Jan 7, 2020