NYPA Announces Successful Deployment of ZOOZ Power Boosting Technology

NYPA Announces Successful Deployment of ZOOZ Power Boosting Technology

For Immediate Release:10/23/24

Contact: Media Inquiries | [email protected]| (518) 860-9935

NYPA Announces Successful Deployment of ZOOZ Power Boosting Technology

Winner of New York-Israel Smart Energy Innovation Challenge, ZOOZ Power,

Develops Innovative Technology Enabling Ultra-Fast Electric Vehicle

Charging in Grid-Constrained Locations

NYPA-ZOOZ Project to Accelerate Direct Current Electric Vehicle

Fast Charger Expansion in New York State

Photosand Videoof Power Boosting System Available

Marcy, N.Y.-The New York Power Authority (NYPA) has successfully deployed a power boosting and management product that will enable ultra-fast electric vehicle (EV) charging in grid-constrained locations. ZOOZ Power, the winner of the Governor's 2022 New York-Israel Smart Energy Innovation Challenge, collaborated with NYPA to develop the innovative charging product that incorporates energy storage and management technology to help advance the State's ambitious clean energy agenda. ZOOZ leaders celebrated the energization of the project during Climate Week NYC in September when visiting the U.S. as part of an Israel delegation participating in clean energy discussions.

New York Power Authority President and CEO Justin E. Driscoll said,"Innovation is a priority for the Power Authority, and partnerships like the one with ZOOZ are integral to our work to decarbonize our economy and support transportation electrification in New York State. The new power booster developed through our partnership is a breakthrough that will lead to the installation of reliable, high speed electric vehicle chargers in locations that were previously unsuitable due to power grid constraints."

ZOOZ's kinetic power booster provides supplemental power to EV fast chargers to enable ultra-fast charging in locations where the grid is power-constrained. By storing electricity in the form of kinetic energy and utilizing special energy management capabilities, the firm's groundbreaking flywheel technology provides a sustainable and safe power boosting solution. The ZOOZ power booster and accompanying ultra-fast EV charger was installed at one of the Power Authority's fleet charging stations in Marcy in Oneida County. The demonstration will inform further buildout of the technology.

ZOOZ Power CEO Erez Zimermansaid, "It is a great honor for ZOOZ and a tremendous opportunity to collaborate with NYPA and showcase the advantages of the ZOOZTER-100, leveraging our unique flywheel technology. The ZOOZTER-100, with its Energy Management System or EMS, is a reliable, eco-friendly power booster that enables the rapid deployment of ultra-fast, multi-ports charging stations, even in areas with limited power grid capacity, enabling customers to significantly boost their sales and profitability. Our collaboration with NYPA, the U.S.'s largest state public power organization, will grant us access to advanced power technologies and enable us to inform additional NYPA and other potential customers and partners about this innovative technology."

Israel Economic Minister to North America Anat Katzsaid, "New York's partnership with Israeli innovators highlights the powerful synergy between our two regions in advancing clean energy technology. Collaborations like this one with ZOOZ Power are a testament to the strength of the New York-Israel economic and technological relationship. Together, we are shaping a more sustainable future and creating solutions that can address critical energy challenges not only in New York, but across the globe."

The 2022 New York-Israel Smart Energy Innovation Challenge was jointly organized by the Israel Smart Energy Association (ISEA) and NYPA. It called on new energy innovators based in Israel to develop a product that could help advance New York's climate and clean energy goals. ZOOZ was awarded $1 millionand granted the opportunity to work with NYPA on a product that would successfully integrate an EV fast charger-enhanced by the firm's power booster-with a local power grid.

New York-Israel Energy Innovations

In early 2020, the Power Authority and ISEA issued the first NYPA-Israel Smart Energy Challenge to solicit start-up technologies from companies headquartered in Israel that support New York's clean energy transition. The competition sought proposals from Israeli companies with expertise in energy efficiency and clean energy generation that wanted to work with New York's public utility to scale up their technology in pilot demonstration projects to meet the specific needs of power utilities operations. Prisma Photonics, based in Tel-Aviv, won that competition and is currently working with NYPA on a real-time transmission line issue detection system that will help improve grid safety, security, and reliability.

In other partnerships, NYPA is collaborating with other Israeli firms mPrest, Brenmiller Energy, and SIGA OT in a wide variety of areas with an emphasis on physical and cyber security. mPrest, a leading provider of monitoring and control systems, assisted NYPA in developing a first-of-its-kind monitoring system to identify system issues before they occur at NYPA's statewide network of power projects and transmission assets. Brenmiller Energy is coordinating with NYPA to test the use of thermal energy storage with combined heat and power systems to increase system energy efficiency on a State University of New York campus. SIGA OT provides sensors and analytics to improve confidence and enhance the reliability, safety and cybersecurity of the grid.

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New York State's Nation-Leading Climate Plan

New York State's climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors and ensures that at least 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation's most aggressive climate and clean energy initiatives, New York is advancing a suite of efforts - including the New York Cap-and-Invest program (NYCI) and other complementary policies - to reduce greenhouse gas emissions 40 percent by 2030 and 85 percent by 2050 from 1990 levels. New York is also on a path to achieving a zero-emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economy-wide carbon neutrality by mid-century. A cornerstone of this transition is New York's unprecedented clean energy investments, including more than $28 billion in 61 large-scale renewable and transmission projects across the State, $6.8 billion to reduce building emissions, $3.3 billion to scale up solar, nearly $3 billion for clean transportation initiatives and 130 certified Climate Smart Communities, over 500 Clean Energy Communities, and the State's largest community air monitoring initiative in 10 disadvantaged communities across the State to help target air pollution and combat climate change.

About NYPA

NYPA is the largest state public power organization in the nation, operating 17 generating facilities and more than 1,550 circuit-miles of transmission lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. NYPA finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit www.nypa.govand follow us on Twitter, Facebook, Instagram, Tumblrand LinkedIn.

About ZOOZ Power

ZOOZ is the leading provider of Flywheel-based Power Boosting solutions enabling widespread deployment of ultra-fast charging infrastructure for electric vehicles (EV), while overcoming existing grid limitations.

ZOOZ pioneers its unique flywheel-based power boosting technology, enabling efficient utilization and power management of a power-limited grid at an EV charging site. Its Flywheel technology allows high-performance, reliable, and cost-effective ultra-fast charging infrastructure.

ZOOZ Power's sustainable, power-boosting solutions are built with longevity and the environment in mind, helping its customers and partners accelerate the deployment of fast-charging infrastructure, thus facilitating improved utilization rates, better efficiency, greater flexibility, and faster revenues and profitability growth. ZOOZ is publicly traded on NASDAQ and TASE under the ticker ZOOZ.

For more information, please visit: www.zoozpower.com/

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