Chakratec Awarded the Winner of eMove360o Award 2017 for Electric Mobility & Autonomous Driving 2017, Energy Storage category

LOD, Israel, Oct. 26, 2017 /PRNewswire/ -- Chakratec, the pioneer in Energy Storage solutions based on a kinetic battery device won the eMove360^o Award 2017 for Electric Mobility & Autonomous Driving 2017, Energy Storage category, held at the eMove360° Europe 2017 international trade fair for Mobility in Munich last week.

"It is a great honor for us to win this award amongst the big players. It indicates the industry believes in our technology" said Nir Zohar, co-founder and VP Business Development and Sales of Chakratec. "The recognition is a major validation of our concept and technology which will be rolled out in 2018 in 3 projects with European utilities for assisting fast EV charging."

This significant achievement occurred following two other achievements in October. In the first instance, Chakratec reached the Top 10 finalists of the SHELL New Energy Challenge 2017 event out of 246 candidates. The second was where Chakratec was chosen by the Global Incubator Network to participate in the goAustria workshop to be exposed to the Austrian Industry.

Electrical vehicles are moving more center stage. As part of this penetration, networks of Ultra-Fast DC EV Charging stations are being set up. These charging stations need to provide a lot of power to charge the EV in a short time. During charging the facility's electrical infrastructure experiences a high current surge and an electrical demand spike which create a grid stability challenge. To stabilize the grid, storage is added to the charging stations.

Chakratec manufactures a patented Kinetic Energy Storage System that matches the needs of Fast EV Charging Stations (EVCS) to enable charging everywhere and to provide high quality and reliable service.

About Chakratec
Chakratec, established in 2013, brings to the energy market patented kinetic battery energy storage solution based on an innovative flywheel concept. Chakratec's solution enables energy storage with unlimited charge cycles as needed with ultra-fast EV charging. Unlimited number of deep charge and discharge cycles over the full life time of 20 years makes this technology an optimal solution for additional multiple cycle applications like grid stability, grid flexibility. Chakratec is accelerating its sales activities and is looking for partners and pilot projects in Europe.

For further information please visit: www.chakratec.com, contact: [email protected]

SOURCE Chakratec