An Israeli company is developing a kinetic warehouse to boost the charging of electric vehicles.
Israeli electric vehicle charging company Chakratec it is believed to be planning to become the latest technology company to hold an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE). Market sources believe that Chakratec will try to collect several tens of millions of shekels, according to the company’s estimate of 350-400 million NIS, before the money, although it has a “continuous company” with its financial report.
Chakratec says it enhances e-mobility by enabling fast and ultra-fast EV charging through unique kinetic storage. The company was founded in 2013 by Chief Technical Officer Ilan Ben-David, Communications Director Nir Zohar and David Pincu, Vice President of Research and Development.
The company has yet to generate revenue and reported a net loss of 9 million NIS in the first half of 2020, after losing 24 million NIS in 2018 and 2019.
Posted by Globes, business news in Israel – en.globes.co.il – February 14, 2021
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Tel Aviv Stock Exchange photo: Eli Yizhar