XCHG LTD - XCH STOCK NEWS

XCharge North America (XCH) has received the prestigious Top Product of the Year award from Environment+Energy Leader for its GridLink bidirectional battery-integrated charger. The innovative solution was recognized in the Business + Infrastructure category.

Launched in October 2024, GridLink addresses key challenges in EV adoption by offering dual functionality: rapid EV charging and grid support through bidirectional charging capabilities. The system can store energy and feed it back to the grid during peak demand, enhancing grid resilience and creating new revenue opportunities for businesses.

Since its establishment in 2022, XCharge NA has focused on developing solutions for the North American market's unique infrastructure needs. The GridLink system builds upon their Net Zero Series technology, specifically designed to strengthen the North American electrical grid while reducing infrastructure barriers and operational costs.

XCharge (NASDAQ: XCH) has announced that its GridLink system has received UL 1973 and UL 9540A certifications in the United States, marking significant safety and efficiency achievements. The system features advanced fire safety measures, including built-in fire suppression water tanks and IP65-rated sealing.

Key innovations include a DC high-voltage air conditioning system that delivers 2% greater efficiency than traditional AC systems, and a four-dimensional safety monitoring system detecting electricity, infrared light, heat, and gases. GridLink's bidirectional converter complies with UL 1741 for U.S. grid integration.

The system's modular design enables individual battery pack replacement, reducing maintenance costs while extending lifecycle. These certifications position GridLink as a leading solution in the U.S. energy storage market, emphasizing safety, efficiency, and grid compliance.

XCharge North America has announced a strategic partnership with Hypercharge Networks Corp. to deploy GridLink EV chargers across Canada, specifically in British Columbia and Ontario. The partnership aims to enhance EV charging infrastructure and energy management in these regions.

Under the agreement, XCharge NA will supply GridLinks to Hypercharge, who will handle distribution to automotive dealerships and other customers. Hypercharge will manage software and customer support, while XCharge NA will oversee hardware maintenance under warranty.

The GridLink system features:

• 215 kilowatt-hours base capacity, expandable to 430 kilowatt-hours
• Bidirectional charging technology enabling power flow back to the grid
• Direct integration with photovoltaics
• Demand charge elimination
• Ability to avoid costly grid upgrades

XCharge North America has launched its first Virtual Point of Sale (VPOS) solution for EV charging systems, following their recent GridLink launch. The integrated payment system comes pre-installed with new XCharge systems and is available to existing customers via remote update.

The VPOS solution features:

• Payment processing through Stripe platform
• Support for Apple Pay, Google Wallet, and standard cards
• Dynamic on-screen QR code for enhanced security
• Optional pin code to secure charging sessions
• Real-time charging metrics and transaction logging
• Remote monitoring and diagnostics capabilities

The system requires no app installation and is designed to streamline the EV charging experience while preventing fraud through its dynamic QR code system. The solution will be demonstrated at the EV Charging Summit & Expo in Las Vegas on March 25-27.

XCharge North America (XCharge NA) has partnered with Orlando Utilities Commission (OUC) to install its Net Zero Series (NZS) charger at OUC's Grid Integration Laboratory. The one-year research collaboration aims to study how battery-integrated charging solutions can enhance grid stability while reducing costs.

The NZS charger, operating on a 60-amp breaker, can deliver up to 189 kW max power while limiting grid power draw. It features a 233-kWh battery pack and can recharge a Ford F-150 Lightning from 20% to 80% in approximately 20 minutes, reducing grid demand impact by 75%. The system's bidirectional functionality allows surplus energy to be returned to the grid during peak demand periods.

This partnership addresses Florida's growing energy demands from increasing EV adoption while exploring cost-effective solutions for utility operations without requiring extensive infrastructure upgrades.

XCharge (NASDAQ: XCH) has announced a strategic collaboration with a major rental car company to enhance EV charging infrastructure at US airport rental facilities. The company has completed charging station installations at several major East Coast airports and secured additional projects along the eastern seaboard.

The collaboration addresses unique challenges faced by airport rental locations, including footprint and utility grid constraints. XCharge's Level-3 charging stations offer significant advantages over commonly used Level-2 solutions, with their initial airport project demonstrating more than tenfold improvement in charging speed through simultaneous charging technology.

According to Aatish Patel, President of XCharge, the company aims to provide comprehensive solutions beyond hardware, focusing on site design, operational efficiency, and EV charging education. The initiative aligns with XCharge's strategy to expand its presence in high-traffic locations, addressing charging anxiety among EV drivers while broadening its customer base.

XCharge (NASDAQ: XCH) announced that its GridLink system has received UL 1973 and UL 9540A certifications in the United States, marking significant safety and efficiency achievements. The system features advanced fire safety measures, including built-in fire suppression water tanks and IP65-rated sealing. GridLink incorporates a DC high-voltage air conditioning system that achieves 2% greater efficiency than conventional AC systems.

The system's four-dimensional safety monitoring detects risks through electricity, infrared light, heat, and gas sensors. Its modular design allows for individual battery pack replacement, while UL-certified battery cells ensure enhanced safety. The bidirectional converter complies with UL 1741 for U.S. grid interconnection standards.

XCHG (NASDAQ: XCH), a global leader in integrated EV charging solutions, has issued a statement addressing recent unusual trading activity in its American Depositary Shares (ADSs). The company confirms it is unaware of any material news or events that could explain the trading patterns.

The company emphasizes that its operations continue normally and its financial condition remains strong. XCHG reaffirms its commitment to sound corporate governance and transparent shareholder communication, advising investors to rely on factual information and seek financial advice for investment decisions.

XCHG (NASDAQ: XCH) reported Q2 2024 financial results showing mixed performance. Revenue decreased 26.3% to $9.0 million compared to Q2 2023, primarily due to reduced deliveries to a major European customer. The company delivered 438 DC fast chargers, down 31.8% year-over-year, while total EV charger deliveries reached 619, a 5.4% decrease. Despite lower revenues, gross margin improved to 46.1% from 44.7% due to enhanced cost control measures.

The company reported an operating loss of $0.9 million compared to a $2.1 million profit in Q2 2023. Cash position strengthened to $24.3 million as of June 30, 2024. The company completed its IPO in September, raising net proceeds of $19.1 million through the offering of 3,462,223 ADSs at $6.20 per ADS.