Electreon Wireless: Develops wireless energy transfer technology that powers vehicles on the move and meets transportation electrification challenges facing countries and cities. We begin coverage with a target price of 25.0 NIS.
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Summary of Highlights
- Electreon Wireless (previously named ElectRoad) is a technology startup with the vision of becoming a leading enabler of shared infrastructure for "all-electric city transport", by providing a cost effective solution for the electrification of roads and vehicles.
- Electreon's technology removes the energy source from the vehicle, and in its place, powers the vehicle via minimal infrastructure located under the driving lane.
- The commercial solution includes: planning, designing, under-road implantation equipment, wireless charging stripe, on-the-move power management equipment (on vehicle), remote monitoring and management tools, and billing.
- Electreon's technology is classified as an Electric Road System (ERS) infrastructure, a domain Frost & Sullivan estimates to be worth more than $35 billion. At least 17 companies are at various testing and development stages of ERS solutions.
- During Q4 2018, the Company performed a full scale demo and presented an EV driving on a 22 meter route while simultaneously charging its battery.
- We view the investment in Electreon as a unique opportunity to invest in a potentially game-changing start up firm. We evaluate the company's equity value at $53.3 million / NIS 200.7 million. This valuation only includes projects identified in cities, i.e. we assume additional economic potential.
About the Company - Electreon Wireless LTD. (hereinafter Electreon or the Company) is an Israeli technology company that was established in 2013. In 2017 the Company performed a reverse merger and its shares are currently traded on the Tel Aviv Stock Exchange. The Company is developing an Electric Road System (ERS) aimed at supporting countries and cities in their transition to all-electric transportation. The technology makes use of Dynamic Wireless Power Transfer (DWPT) via electromagnetic fields produced under the roadbed. The Company's shareholders include Dan (a major Israeli bus operator).
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SOURCE Frost & Sullivan