2024-01-30 13:33:00
Electreon Electreon +6.49% Base: 7,700 Opening: 8,160 High: 8,775 Low: 7,938 Value: 16,057,164 Page Quote News Graphs Company Profile Recommendations Additional articles on the subject: which deals with the development of electric road technology for electric vehicles, and provides end-to-end wireless charging infrastructure and services announces that it has signed on an agreement to integrate its technology in Toyota vehicles and in the spare parts of the Japanese company Denso. The agreement will be valid for about two years, and includes the joint development of a wireless charging kit intended for simple installation on existing vehicles as well as a wireless charging system that will be integrated integrally, built-in, in new vehicles.
The partnership will be joint owners of the intellectual property that will be created as a result of the development of the new system. Also, the parties agreed to share in the royalties arising from the use of said intellectual property. The partnership even committed to act together in standardization committees around the world, in order to design global standards.
In addition, the three partners plan to enter into another agreement regarding the future use of the new technology, which will regulate the aspects concerning the granting of a license to use Elektreon’s previous intellectual property, and in which they will establish mechanisms for sharing and obtaining a license to use new intellectual property that will be created independently by each of the companies. In addition, the three companies agreed to test and present the capabilities of the new system in two demonstrations, which will be held throughout Europe, the United States, Israel or Japan. These demonstrations will be an important step in the development process of the new system.
“We are proud of the cooperation with the world’s leading car giants, Toyota and Denso,” said Oren Ezer, CEO of Electreon. “Choosing Electreon’s wireless charging technology is a huge expression of confidence in the importance and advantage of our technology. Electreon’s vision is to make sure that the transition to electric transportation is done in the most optimal way that will lead to carbon neutrality. With such partnerships – the sky is the limit.”
Electreon reported in the third quarter revenues of NIS 6 million compared to NIS 2 million in the corresponding quarter, a 3-fold jump. Gross profit amounted to NIS 1 million (17.3% of revenues) compared to NIS 300,000 (14.5% of revenues) in the corresponding quarter, a 3.5-fold increase. The operating loss amounted to NIS 22 million compared to NIS 20.5 million in the corresponding quarter, an increase of 7%. The net loss amounted to NIS 20.5 million compared to NIS 21.5 million in the corresponding quarter, a decrease of 5%.
Two months ago last month, the company announced that it had completed the project in front of Afikim in Rosh Ha’Ein. The project includes a wireless charging dock at a public bus terminal. The company claimed that “to the best of their knowledge, this is the first terminal of its kind in the world, which allows wireless charging of electric buses throughout the hours of the day and night”, and which is expected to serve the general public as part of regular public transportation services. As part of the project, the company will recognize income in the amount of approximately 5.8 million shekels in 2023, while the balance of the payment to which the company is entitled for the project, approximately 700 thousand shekels, will be paid throughout the period of providing the software, operation and maintenance services.
Elektreon’s stock jumped 164% in the last 12 months and is traded at a value of NIS 930 million.
Electreon stock in the last 12 months
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