LOD, Israel, Jan. 7, 2020 /PRNewswire/ -- 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.

Please contact marketing@chakratec.com.

Come and meet Chakratec at CES (Israeli Pavilion, Sands Hall G).

ABOUT CHAKRATEC

Chakratec ltd was founded in 2013 and is privately owned and managed by its three co-founders, who gained significant experience in senior executive positions in public companies. Operating from its offices in Lod, Israel, the innovative company has a patent-protected technology for EV charging, with proof of concept achieved with operational units in Austria, Italy, and the Czech Republic, installed in leading energy and automotive companies.

ABOUT BLINK CHARGING

Blink Charging is a leading owner/operator of EV charging stations in the United States and a growing presence in Europe, Asia, Israel, the Caribbean, and South America. With a long history as a pioneer in the EV industry and a dedicated team with industry knowledge, Blink continues to be a preferred, trusted partner in EV charging station technology. As such, Blink is a driving force with more than 150,000 registered EV driver members and more than 15,000 EV charging stations deployed. For more information, please visit www.blinkcharging.com.

ABOUT BIRD FOUNDATION

The BIRD (Binational Industrial Research and Development) Foundation established in 1977 works to encourage and facilitate cooperation between U.S. and Israeli companies in a wide range of technology sectors and offers funding to selected projects. The BIRD Foundation supports projects without receiving any equity or intellectual property rights in the participating companies or in the projects, themselves. BIRD funding is repaid as royalties from sales of products that were commercialized as a result of BIRD support. The Foundation provides funding of up to 50% of a project's budget, beginning with R&D and ending with the initial stages of sales and marketing. The Foundation shares the risk and does not require repayment if the project fails to reach the sales stage. The cumulative sales of products developed through projects funded by the BIRD Foundation have exceeded $10 billion.

Further information:

Nir Zohar
Chief Customer Officer
Nir.zohar@chakratec.com
T: +972-544-232-082

Daniel Raanani
Marketing & MarCom
Daniel.raanani@chakratec.com
T: +972-547-797-703

SOURCE Chakratec