Medigus: Charging Robotics Announces Positive Results in Transferring High Voltage Wireless Electricity Needed for EV Charging
Medigus Ltd. (Nasdaq: MDGS) announced that its subsidiary, Charging Robotics Ltd., has successfully completed an important milestone towards the installation of its wireless charging system in automatic car parks as part of its pilot program with an automatic car park provider in Israel. The successful experiment for transferring high voltage electricity wirelessly needed for EV charging will enable the pilot program to progress to the next step, which is the full charging of an EV using the wireless charging system developed by Charging Robotics at a higher voltage. 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, with an estimated CAGR of 11.4% between 2023 and 2032.
The advancement in wireless charging technology by Medigus' subsidiary, Charging Robotics, could signal a significant shift in the electric vehicle (EV) infrastructure landscape. With the global Automated Parking System market projected to grow from USD 1.8 billion in 2022 to USD 5.2 billion by 2032, the successful integration of such technology could position Medigus as a key player in this expanding market. The ability to charge EVs wirelessly in automated car parks would not only enhance user convenience but could also lead to increased adoption rates for EVs, as one of the current barriers to EV ownership is the perceived inconvenience of charging.
From an investment perspective, the potential market expansion for Charging Robotics is substantial. The projected compound annual growth rate (CAGR) of 11.4% for the Automated Parking System market suggests a robust growth trajectory that could benefit Medigus' financial performance over the next decade. Stakeholders should monitor subsequent phases of the pilot program closely, as the outcome will likely influence both the company's stock valuation and its strategic positioning within the EV charging infrastructure sector.
The technical details of the experiment conducted by Charging Robotics are crucial in understanding the potential impact on the EV charging industry. The successful wireless transfer of high voltage electricity through electromagnetic induction represents a noteworthy step forward in charging technology. The use of resonance coils and proprietary voltage and current control algorithms to maintain the transfer within required limits showcases an innovation that could address safety and efficiency concerns in high-power wireless EV charging.
The implications for the EV market are significant as this technology could alleviate range anxiety and improve the convenience of charging, potentially accelerating the transition to electric mobility. The upcoming trials at higher voltages and the subsequent installation in an automatic car park will be pivotal in determining the commercial viability of the system. If successful, Charging Robotics could set a new industry standard for EV charging solutions, influencing both consumer behavior and the future design of EVs and parking infrastructure.
The development of wireless EV charging systems by Charging Robotics aligns with global efforts to reduce carbon emissions through the promotion of electric vehicles. The integration of such technology within automated parking systems could enhance the sustainability of urban transportation by encouraging EV adoption and reducing the carbon footprint associated with traditional fuel-powered vehicles.
Moreover, the environmental benefits of widespread wireless charging could be substantial, as it would likely lead to more efficient land use by minimizing the need for extensive charging station networks. This, in turn, could contribute to a reduction in urban congestion and pollution. Policymakers might consider these developments when crafting regulations and incentives for EV infrastructure, potentially leading to supportive measures that could further stimulate market growth and environmental benefits.
12/27/2023 - 08:10 AM
Tel Aviv, Israel, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, today announced that Charging Robotics Ltd. ("Charging Robotics"), a subsidiary of Fuel Doctor Holdings, Inc., (“FDOC”) a Delaware corporation listed on the OTC Market (67.15% owned by Medigus), announced today it has successfully completed an important milestone towards the installation of its wireless charging system in automatic car parks as part of its pilot program with an automatic car park provider in Israel.
This milestone included a successful experiment for transferring high voltage (up to 450 V) electricity in a wireless manner needed for electric vehicle (“EV”) charging. The experiment was conducted in order to verify that the proprietary voltage and current control algorithms developed by Charging Robotics are capable of controlling the voltage and current within the required limits.
The experimental system included two resonance coils designed and manufactured by Charging Robotics. These coils were held at an air gap distance of 40mm. The electricity was transferred from one coil to the other by means of electromagnetic induction.
The source for the electricity was a direct current electricity (“DC”) power supply fed from 3 phase grid power sources. The DC power was converted to alternating current (“AC”) at resonance frequency using a power circuit designed by Charging Robotics that fed the transmitting coil. From the receiving coil, the induced power was converted from AC to DC using a similar power circuit. All algorithms needed for the control of the system were developed by Charging Robotics.
This successful experiment will enable the pilot program to progress to the next step, which is the full charging of an EV using the wireless charging system developed by Charging Robotics at a higher voltage. If the next trial is successful it will be followed by the installation of the system at the automatic car park to be used for wirelessly charging EVs.
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.
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: ir@medigus.com
Investor Relations Contact: michal@efraty.com
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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
What did Medigus Ltd. (Nasdaq: MDGS) announce regarding its subsidiary Charging Robotics Ltd.?
Medigus Ltd. (Nasdaq: MDGS) announced that its subsidiary, Charging Robotics Ltd., has successfully completed an important milestone towards the installation of its wireless charging system in automatic car parks as part of its pilot program with an automatic car park provider in Israel.
What is the value of the global Automated Parking System market and its expected growth?
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, with an estimated CAGR of 11.4% between 2023 and 2032.
What is the significance of the successful experiment for transferring high voltage electricity wirelessly by Charging Robotics?
The successful experiment for transferring high voltage electricity wirelessly needed for EV charging will enable the pilot program to progress to the next step, which is the full charging of an EV using the wireless charging system developed by Charging Robotics at a higher voltage.
