Electreon, InductEV sign MoU to create combined company for wireless charging solutions

Electreon, developer of dynamic wireless electric vehicle (EV) charging, has signed an MoU to purchase the assets of U.S.-based InductEV Inc., provider of ultra-fast, high-power static wireless charging systems for heavy-duty electric transit and freight fleets in North America.

Once a definitive agreement is signed, the combined company will bring together Electreon's dynamic wireless charging and stationary high power technology, with InductEV's ultra-fast static systems and charging platform, creating a full range of wireless charging solutions for every EV use case, from passenger vehicles to vans to buses, heavy-duty trucks and autonomous vehicles. This unified portfolio simplifies and accelerates fleet electrification.

Combining the two companies' wide portfolio of high-impact projects and partnerships, along with nearly 400 granted and pending patents, will significantly strengthen their leadership in North America and globally.

Both companies already work closely with key vehicle OEMs – an advantage that accelerates integration and market adoption. Electreon also brings deep operational experience and highly cost-efficient manufacturing capabilities, adding significant value to InductEV's technology, and creating a competitive and scalable platform for wireless charging worldwide.

"Together with InductEV, we are working to create a truly global powerhouse for wireless EV charging – a company unlike anything else in the market, offering wireless solutions for every charging scenario and for every type of customer and vehicle," says Oren Ezer, CEO of Electreon. "We see this step as a defining moment for Electreon and for the global wireless charging industry. InductEV is the U.S. market leader in ultra-fast stationary wireless charging, and Electreon is the world leader in dynamic wireless charging with a proven, reliable product. This transaction will generate powerful synergies across our technologies, manufacturing capabilities, strategic partners, and customer bases – and the decision by InductEV's shareholders to invest in Electreon is a tremendous vote of confidence in our shared vision."

"I've long believed that wireless charging will redefine how fleets operate. Electreon shares that vision and brings the global reach and dynamic technology to make it a reality," says John F. Rizzo, CEO of InductEV. "Together, we're combining world-class innovation with real-world experience to deliver even greater value to our North American and European customers and accelerate the shift to wireless power for sustainable commercial transportation."

Completion of the transaction remains subject to due diligence, final agreements, and regulatory approvals.