Electreon has signed a memorandum of understanding for the sale of its wireless EV charging services to CTG. CTG currently operates a fleet of over 2,800 limousines and taxis, which it plans to transition to EVs in the near future in order to reduce emissions and operating costs. This is Electreon's first sale and wireless EV charging deployment in the New York and Las Vegas areas, and expands on its other recent U.S. projects in Michigan and Utah.

After reviewing the existing charging solutions in the market, CTG chose Electreon's wireless EV charging services in order to reduce its upfront costs, save space in the urban operating areas, avoid the visual and safety hazards of conductive charging stations, and ensure the simple and continuous operation of its electric limousine fleets. Electreon's Charging as a Service business model ensures the payment for the charging services will be per vehicle and includes full set up of the wireless chargers, maintenance, support and software services. As part of the MOU, CTG will also connect Electreon to its EV manufacturers to support the integration of Electreon's vehicle systems and receivers that enable the EVs to charge wirelessly.

The commercial terms of the sale of charging services will be determined in the full agreement and announced separately. In the first phase, CTG will purchase Electreon's static charging services for its operating areas in Las Vegas, and later it will purchase and install Electreon's semi-dynamic wireless charging stations near airports and hotels to be selected at a later date. The combination of both static and semi-dynamic wireless charging at strategic locations will allow CTG's EV fleet to continuously charge, reducing battery size and vehicle downtime.

CTG will reduce costs and maintain optimal fleet operation because Electreon eliminates the need to allocate people to plug in vehicles, or halt operations for charging. Electreon plans to simultaneously sell its charging services to CTG's electric fleet in New York. The parties will also consider the option of installing solar panel roofing in CTG's operating areas to further lower costs and increase the environmental benefit of the system.

Electreon's receivers in the fleet vehicles will also enable them to charge dynamically in any future electric roads in the city centers, creating a future-proof system.