Medigus: Charging Robotics Targets the $1.8 Billion Automated Parking Market for EV Wireless Charging Solution
December 26 2023 - 6:11AM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions, innovative internet technologies, and
electric vehicle and charging solutions, announced the launch of a
unique pilot of a wireless charging solution to meet the growing
demand for electric vehicle (EV) charging in automated parking
systems.
This project was led by Charging Robotics Ltd.,
an innovator in wireless charging solutions and a subsidiary of
Fuel Doctor Holdings, Inc., (“FDOC”) a Delaware corporation listed
on the OTC Market and owned by Medigus (67.15%).
Charging Robotics specializes in developing
cutting-edge wireless charging solutions designed to seamlessly
integrate into the evolving landscape of electric vehicle (EV)
infrastructure. Charging Robotics is at the forefront of
innovation, focusing on the creation of wireless charging systems
that can be deployed in various settings, including automated
parking systems.
In August 2023, the company announced that it
started a pilot project with an automatic car park provider in
Israel to evaluate Charging Robotics' wireless charging system for
electric vehicles. For that purpose, in November 2023, the company
secured funding from the Israel Innovation Authority to fund the
pilot project. The total approved budget for this project is
approximately NIS 1.2 million (approximately USD 445,000), of which
the Israel Innovation Authority will finance 50%.
According to Market.us1, the global Automated
Parking System market was valued at USD 1.8 billion in 2022 and is
expected to grow to USD 5.2 billion by 2032. Between 2023 and 2032,
this market is estimated to register a CAGR of 11.4%. Alongside the
expected growth in the EV market, the combination of EVs and
automated parking creates potential for a more sustainable and
efficient future for transportation.
The wireless charging system is set to answer
the unmet need of charging EVs in automatic car parks. Automatic
car parks are gaining popularity as they offer an ultra-efficient
solution to park cars, while also reducing expensive real estate
costs. However, since these are automated facilities, currently
there is no way for the driver to connect a charging cable to the
vehicle. This is a major concern and a market restrain for
automated parking manufacturers and EV manufacturers, particularly
in areas where electric vehicles are growing rapidly- this is the
con Charging Robotics aiming to address.
Besides enabling EV charging in automatic car parks, the
wireless charging system has numerous advantages, including:
Seamless Integration: the
wireless charging system will be seamlessly integrated into the
automatic car park infrastructure, requiring minimal modifications
to the existing layout. This ensures a minimum installation process
while maximizing parking capacity
Convenient Charging Experience:
drivers will start the system using a dedicated smart phone
application, which will also notify the driver about the charging
process
Scalability and Adaptability:
the system’s modular design enables easy scalability, allowing the
parking lot operator to increase the number of chargers in the
facility based on the number of electric vehicles. The system will
be able to charge all electric vehicles at efficiencies of >93%
which is outstanding for wireless charging systems.
About Charging Robotics
Charging Robotics is developing various
automatic wireless charging solutions such as robotic and
stationary charging systems for electric vehicles. Robotic
solutions are intended to offer the driver the ability to initiate
charging by use of a simple smartphone app so that an autonomous
robot will navigate under the vehicle and charge it. Stationary
systems offer various solutions for example in automatic car parks
allowing to charge EVs in places where drivers can’t connect plugs
to sockets. For further information,
visit: https://www.chargingrobotics.com/
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is
a technology company focused on innovative growth partnerships,
mainly in advanced medical solutions, digital commerce and electric
vehicle markets. Medigus' affiliations in the medical solutions
arena include ownership in Polyrizon Ltd. and ownership in industry
4.0 company, ScoutCam Inc. The Company’s affiliates in digital
commerce include Gix Internet Ltd., Jeffs' Brands Ltd. and Eventer
Technologies Ltd. In the electric vehicle market, Charging Robotics
Ltd. and Revoltz Ltd. are also part of the Company’s portfolio of
technology solution providers. To learn more about Medigus’
advanced technologies, please
visit http://www.medigus.com/.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. Because such statements deal with
future events and are based on Medigus’ current expectations, they
are subject to various risks and uncertainties, and actual results,
performance or achievements could differ materially from those
described in or implied by the statements in this press release.
For example, Medigus uses forward looking statement when describing
the potential of the automated parking market and the wireless
charging system’s ability to satisfy market needs.
The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed in any filings with the
SEC. Except as otherwise required by law, Medigus undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Medigus is not
responsible for the contents of third-party websites.
Company Contact: Tali DinarChief Financial
Officer+972-8-6466-880ir@medigus.com
Investor Relations Contact:Michal
EfratyInvestor Relations,
Israel+972-(0)52-3044404michal@efraty.com
_______________________
1
https://www.globenewswire.com/en/news-release/2023/04/11/2644888/0/en/Automated-Parking-System-Market-projected-to-achieve-a-valuation-of-US-5-2-billion-by-2032-with-Europe-leading-the-market-share-at-42.html
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