Ads-Tec Energy Public Ltd Co 6-K, filed Apr 29, 2024
Ads-Tec Energy Public Ltd Co (ADSE)
About this 6-K
Ads-Tec Energy Public Ltd Co filed this 6-K on April 29, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO SECTION 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2024
Commission file number: 001-41188
ADS-TEC Energy Public Limited Company
(Translation of registrant’s name into English)
10 Earlsfort Terrace
Dublin 2, D02 T380, Ireland
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
CONTENTS
Appointment of Alwin Epple
On April 29, 2024, the board of directors (the “Board”) of ads-tec Energy PLC (the “Company”) appointed Mr. Alwin Epple as a new Class I member of the Board, effective immediately. Mr. Epple will also serve as a member of the Audit Committee and Compensation Committee of the Board beginning in early May.
Mr. Epple has served as Chairman of the Advisory Board for AMANN & Söhne GmbH & Co.KG, a worldwide operating manufacturer of industrial sewing threads and embroidery yarns, and as a member of the Board of Management of Hanns A. Pielenz-Stiftung, a non-profit foundation, since 2016. Additionally, from 2016 through 2023, Mr. Epple served as the Chief Audit Executive of Mercedes-Benz Group AG (Daimler AG) Stuttgart/Germany, Detroit/USA, and Beijing/China. Mr. Epple studied economics at Eberhard-Karls-University Tübingen and has participated in multiple executive management training sessions at Harvard University and the Wharton School of the University of Pennsylvania.
There are no arrangements or understandings between Mr. Epple and any other person pursuant to which Mr. Epple was appointed as a director of the Company. In addition, there is no family relationship between Mr. Epple and any director or executive officer of the Company. The Board deems Mr. Epple an “independent director” as defined by Nasdaq Rule 5605(a)(2).
Additionally, the Company issued a press release announcing Mr. Epple’s appointment to the Board. A copy of that press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
Incorporation by Reference
The information furnished in this Report on Form 6-K is hereby incorporated by reference into the Company’s registration statements on Form F-3 (File No. 333-262281) and Form S-8 (File No. 333-263153).
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This Form 6-K includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “hope,” “predict,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include the Company’s expectations with respect to future performance and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include but are not limited to risks and uncertainties incorporated by reference under “Risk Factors” in the Company’s Form 20-F (SEC File No. 001-41188) filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 11, 2023 and in the Company’s other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press Release dated April 29, 2024 |
1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Date: April 29, 2024 | ADS-TEC ENERGY PLC | ||
| By: | /s/ Wolfgang Breme | ||
| Name: | Wolfgang Breme | ||
| Title: | Chief Financial Officer | ||
2
Exhibit 99.1
ADS-TEC Energy Appoints Automotive and Mobility Expert, Alwin Epple as Newest Board Member
NÜRTINGEN, Germany – April 29, 2024 – ADS-TEC Energy plc (“ADS-TEC Energy”, “Company”, “we”, “our” or “us”) (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, is pleased to announce the appointment of Alwin Epple to its Board of Directors. With an illustrious career in the automotive industry spanning over three decades, Mr. Epple brings a wealth of experience and expertise to the company’s leadership team.
Mr. Epple has held prominent positions at Daimler AG and Mercedes Benz Group for the past 20 years. Most recently, he served as Chief Audit Executive at Mercedes-Benz Group. Prior to this, he served as the Head of Project Management for Daimler AG in Stuttgart, where he spearheaded the restructuring of passenger car sales in 18 countries. Mr. Epple’s extensive international experience also includes terms as President and CEO of Mercedes-Benz Italia, Executive Board Member of Daimler Financial Services AG, and Managing Director of Mercedes-Benz Financial Services UK LTD.
“We are delighted to welcome Alwin Epple to our Board of Directors. Mr. Epple’s career trajectory showcases his ability to navigate complex international markets and deliver tangible results across diverse sectors within the automotive industry”, states Prof. Dr. Kurt Lauk, Chairman of ADS-TEC Energy’s Board of Directors. “His appointment to the board of ADS-TEC Energy underscores the company’s commitment to driving innovation and sustainable growth in today’s dynamic business landscape.”
Mr. Epple has served as Chairman of the Advisory Board for AMANN & Söhne GmbH & Co. KG, a worldwide operating manufacturer of industrial sewing threads and embroidery yarns, and as a member of the Board of Management of Hanns A. Pielenz-Stiftung, a non-profit foundation, since 2016.
Mr. Epple holds an economics degree from Eberhard-Karls University Tubingen and has completed executive management training programs at both The Wharton School of the University of Pennsylvania and Harvard University in Cambridge.
“To join the board of ADS-TEC Energy PLC is an honor and very exciting,” said Alwin Epple. “The opportunity to contribute to the transformation of automotive mobility through ultrafast charging and battery storage solutions is motivating.”
About ADS-TEC Energy
ADS-TEC Energy plc, a public limited company incorporated in Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as a holding company for ads-tec Energy GmbH, our operating company incorporated in Germany (“ADSE GM”) and ads-tec Energy Inc., a US subsidiary of ads-tec Energy GmbH (“ADSE US” and together with ADS-TEC Energy and ADSE GM, “ADSE”). Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and manufactures battery storage solutions and fast charging systems including their energy management systems. Its battery-based, fast charging technology enables electric vehicles to ultrafast charge even on low powered grids and features a very compact design. It was most recently nominated by the President of the Federal Republic of Germany for the German Future Prize and elevated to the “Circle of Excellence” in 2022. The high quality and functionality of the battery systems are due to a particularly high depth of development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for automotive, OEMs, utility companies and charge-operators.
More information: www.ads-tec-energy.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. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding our financial outlook for 2024, our expectations with respect to future performance and the anticipated timing of certain commercial activities. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: the geopolitical events including the Russian invasion of Ukraine; macroeconomic trends including changes in inflation or interest rates, or other events beyond our control on the overall economy; our business and those of our customers and suppliers, including due to supply chain disruptions and expense increases; our limited operating history as a public company; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales to a limited number of customers for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions and expense increases; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe and the U.S.; the effects of competition; changes to battery energy storage standards; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under “Item 3. Key Information – 3.D. Risk Factors” in our annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on May 11, 2023, which is available on our website at https://www.ads-tec-energy.com/en/company/invest and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
Media Contact:
For ADS-TEC Energy –International
Juliane Kunz
Senior Press Officer
press@ads-tec-energy.com
For ADS-TEC Energy – US
Stephannie Depa
Breakaway Communications
+1 530-864-0136
sdepa@breakawaycom.com