Wallbox Introduces Home Energy Management Solutions for EV Drivers in the U.S.

Wallbox (NYSE:WBX), a leader in electric vehicle charging and energy management solutions worldwide, today announced the launch of Eco-Smart and Power Boost, the company’s first home energy management features available for EV drivers in the U.S. Eco-Smart and Power Boost come standard with Pulsar Plus, the smallest available smart home EV charger in North America, capable of 48Amp (11.5kW) charging. With these new features, Wallbox continues to extend its market leadership in energy management and provide its users with intelligent charging solutions for sustainable home energy use.

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Eco-Smart allows Wallbox users to charge their electric vehicle with solar energy at home. (Graphic: Business Wire)

“These latest features represent a leap forward in how EV owners can charge their vehicles at home,” said Douglas Alfaro, General Manager of Wallbox North America. “With the release of Eco-Smart and Power Boost, we have reimagined the way in which energy is monitored, used, accessed and optimized for EV owners throughout the home. As energy costs and demand are expected to continue to rise, intelligently managed EV chargers will become not only a cost-savings measure, but a way to facilitate the transition to clean energy in the future.”

Maximize clean energy consumption

Eco-Smart uses a power meter to measure the energy from a home’s rooftop solar system to charge an EV in an efficient and sustainable way. This feature lets homeowners determine the source and mix of power to be delivered to the EV and is available in two modes:

• Full-Green Mode detects when there is enough surplus green energy available from the home solar PV system to charge an EV, so that the EV is charged with renewable energy.
• Eco Mode blends grid energy with surplus green energy from home solar panels, maximizing charging speed while taking advantage of the available power from the home solar PV system.

Eco-Smart can be controlled through the myWallbox app on a mobile device if the user prefers to switch to all-grid power.

Enable more powerful EV charging at home

Power Boost is designed to allow installation of a more powerful charger where the home's electrical capacity might otherwise require limiting the power available for EV charging.

Power Boost is able to measure the real-time energy usage of a household and dynamically adjust EV charging power. This permits users to install a more powerful EV charger in their homes. When electrical consumption of the household is increased, for example, when air conditioning is in use, EV charging power can be dynamically reduced to avoid overloading the electrical system. As household electrical consumption decreases, EV charging power is increased so that users can charge at maximum speed.

The heart of the energy management system

Both Power Boost and Eco-Smart features are embedded within Pulsar Plus and are easily activated through the myWallbox app and with the professional installation of a power meter kit (available at wallbox.com or via a Wallbox-certified reseller).

Pulsar Plus, Wallbox’s best selling home charger worldwide, is compatible with all EVs, including Teslas, using the Tesla-provided J1772 adapter. Features include flexible amperage setting, Bluetooth and Wi-Fi connectivity, charge scheduling, power sharing, the myWallbox app, and voice control via Amazon Alexa and Google Home.

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 80 countries.

Founded in 2015 and headquartered in Barcelona, the company now employs over 700 people in its offices in Europe, Asia, and the Americas.

For additional information, please visit www.wallbox.com.

Wallbox Forward Looking Statements

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the expected cost savings expected from the use of Eco-Smart and Power Boost and the ability for Eco-Smart and Power Boost to reduce electrical consumption. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "may," "can," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "predict," "potential," "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.

These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electronic vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; and other important factors discussed under the caption "Risk Factors" in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on September 20, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com.

These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

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