Time to ZOOZ: Chakratec changes its name to ZOOZ Power (TASE: ZOOZ)

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May 02, 2022, 08:43 ET

Following the global expansion and as part of a strategic rebranding process the company has officially changed its name.

TEL AVIV, Israel, May 2, 2022 /PRNewswire/ -- Chakratec is announcing a change of its name to ZOOZ Power Ltd (TASE: ZOOZ), as of May 1^st, 2022.

As part of its rapid growth and global expansion, the company has completed a strategic process, in which it has updated and sharpened its strategy and positioning, including a rebranding process, resulting in changing its name to ZOOZ Power and updating its look & feel accordingly.

Boaz Weizer, CEO of ZOOZ, said, "Our world is changing rapidly and the EV revolution is already here. But In order to truly embrace the transition to EVs, we need to accelerate vast roll out of an ultra-fast charging infrastructure, in spite electricity grid limitations, and without compromising on business growth or sustainability.

We, as a company, are also changing and growing at a fast pace and are currently launching a unique and groundbreaking product that will allow our customers & partners to overcome the power-limitations of the electricity grid infrastructure. Our solution enables them to roll-out an ultra-fast charging infrastructure, anywhere, in the simplest, and most economically efficient and sustainable way.

ZOOZ, our new catchy name, signals our brand's promise of effectiveness and dynamics (in Hebrew ZOOZ stands for "move it!"), and will allow us to stand out with corpo a crystal clear message – it's time to boost your business & your infrastructure, it's time to Boost for good, it's time to ZOOZ !

So, ZOOZ is more than a name; it's a mission - enabling our customers and partners to quickly adapt to the market's needs and offer cost-effective ultra-fast EV charging, anywhere, while meeting tomorrow's sustainability goals today."

About ZOOZ Power

ZOOZ enables ultra-green, ultra-fast electric vehicle charging anywhere. We are committed to eliminating range anxiety and accelerate the mass adoption of electric vehicles around the world, by enabling vast roll-out of cost-effective ultra-fast charging infrastructure, while sustainably overcoming existing grid limitations. ZOOZ pioneers unique flywheel-based power boosting technology, which enables unlimited high-power charge & discharge cycles with over 15 years lifespan, thus providing minimal total cost of ownership for the ultra-fast EV charging infrastructure. As our product is based on kinetic energy storage in Flywheels, it is nontoxic, nor based on rare-earth materials, which makes it intrinsically green.

Our sustainable, power boosting solutions are built with longevity and the environment in mind - to help our customers and partners create the world's most sustainable, reliable, long-lasting and cost-effective charging solutions.

Founded in 2013 and headquartered in Lod, Israel, ZOOZ is working globally with leading charge-point operation, energy, and real estate companies, to deploy first-of-their-kind kinetic-powered EV ultra-fast charging stations.

ZOOZ is a public company, traded on the Tel Aviv Stock Exchange (TASE: ZOOZ).

Contact Information:

[email protected]

Photo - https://mma.prnewswire.com/media/1808744/zooz_group.jpg

SOURCE ZOOZ Power