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Nomadic Power Receives EU Grant of EUR 2 Million

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Range extension and fast charging options for all electric cars as well as an intelligent storage of PV-energy - all these functions are incorporated in "Nomads" - the mobile batteries from Nomadic Power GmbH

PALO ALTO, CA and BRUSSELS -- June 17, 2015:

Nomadic Power receives a grant of EUR 2 Million from the European Commission for their "MobileBattery" project. Under the auspices of the EU Horizon 2020 SME Instrument, Nomadic Power has been selected from 785 strong competitors from all over Europe.

"Nomadic Power has developed a simple and efficient solution to extend the range of battery-powered electric vehicles", says Dr. Manfred Baumgaertner, the CEO of Nomadic Power. "We see a strong future in electricity-powered mobility and an increasing use of renewable energy, photovoltaic power in particular. Our mobile batteries have great potential in these markets that recently got a significant shot in the arm by Tesla's announcements."

Range extension, fast charging options and functions for intelligent energy management of PV systems are incorporated in "Nomads" - the mobile batteries from Nomadic Power. Nomad capacities range from 40 up to 85 kWhs. Nomads can collect the solar energy of the photovoltaic system during the week, and on the weekend the owner of an electric car, through the connected Nomad, has an extended range of over 500 kilometers.

"We are very happy and grateful for the support of the European Commission. For us, this is an additional great motivator and a milestone on our way to bringing a high-quality product to our environmentally-minded customers", says Yuliya Rogachevska, Nomadic Power's director of PR and investor relations.

Nomadic Power is a high-tech company from Darmstadt, Germany, with a development center in Stuttgart and a marketing team in Palo Alto, California. Nomadic Power develops and markets mobile energy systems for decentralized storage and mobile use of electric energy.

The "MobileBattery" project has received funding from the EU Horizon 2020 research and innovation programme under grant agreement No 666278, which has been signed by BVB INNOVATE GmbH, Nomadic Power's sister company. This article reflects only the author's view and the EU Executive Agency for Small and Medium-sized Enterprises (EASME) is not responsible for any use that may be made of the information it contains.