This is an English translation of a Hebrew immediate report that was published on June 14, 2022 (reference no: 2022-01-073528) (hereinafter: the "Hebrew Version"). This English version is only for convenience purposes. This is not an official translation and has no binding force. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.
Electreon Wireless Ltd. )the "Company"(
June 27, 2022
To To Israel Securities Authority Tel Aviv Stock Exchange Reported Via Magna Reported Via Magna
Dear Sir and Madam,
Re: Performance of the Company's System in the "Arena of the Future" Project
Further to that set forth in Section 15.3(5) of the Company's 2021 periodic report,1 the Company hereby to announce that at the launch event for the "Arena of the Future" project, a Fiat 500 private vehicle was charged by the system developed by the Company, while in motion, with an average power output of approximately 16KW and with an average utilization of approximately 85%. It should be noted that the vehicle travelled at an average speed of approximately 84 km/h - the maximum possible speed at the facility hosting the pilot. The vehicle consumed less energy while in motion than the rate at which it charged (in this context it should be noted that the vehicle started the exhibition day with a 22% charge and concluded that afternoon with a 48% charge).
Similarly, during the launch event the charging output of the electric bus manufactured by IVECO increased from its average charging output of 60KW in previous trials to an average output of 75KW
1 As Published on March 31, 2022 (reference no: 2022-01-040885).
(from three receivers). Charging of the electric bus was tested while driving at a speed of up to 60 km/h.
The launch event was held on Friday, June 10, 2022, and a number of Italian ministers and senior government and transportation and infrastructure industry officials were in attendance. It should be noted that as part of the event, the Chairman of the Bergamo International Airport and the President of Brebemi, the Company leading the pilot, declared their intentions to advance the immediate deployment of a dynamic charging segment at the facility which hosted the pilot, which will mimic conditions at the airport - as an initial step for a commercial project for charging service vehicles and shuttles at the airport.
In addition to that stated above, the Company hereby announces that the carmaker Maserati joined the "Arena of the Future" project as an additional partner. As part of the launch event, Maserati exhibited an electric vehicle which is anticipated to be used for testing the Company's wireless charging technology.
The declarations made about the continuation of the "Arena of the Future" pilot and the commercial implementation of the Company's technology in Italy, including the Company's assessments and estimations regarding the deployment of a dynamic charging segment which will mimic the conditions at the Bergamo international airport, commercialization of the Company's technology and deployment of the Company's technology on toll roads and integrating the Company's technology with Maserati vehicles, are "forward-looking information", as defined in the Israel Securities Law, 1968, based on many factors and variables existing in the Company as of the date of the report and which are beyond the Company's control. These assessments and estimates may not materialize in whole or in part, or may materialize in a materially different manner than expected by the Company. The main factors which may affect these estimates and assessments include the materialization of any of the risk factors detailed in the chapter describing the corporation's state of affairs in the Company's 2021 periodic report which was published on March 31, 2022 (reference no: 2022-01-040885).
Respectfully,
ElectReon Wireless Ltd.
Executed on the date of the report, by:
Oren Ezer, Chairman of the board of directors and CEO
Barak Duani, CFO