Innovative EV Charger Technology - This company files two patents: Here's how it will benefit fleet services, vehicles
Earlier, the company had filed two patents intending to facilitate grid service optimisation through a battery energy storage system and to effectively channel renewable energy into BESS for maximum value, enabling the transition to sustainable energy.
Innovative EV Charger Technology: Electrical Equipment company Servotech Power Systems Limited is set to revolutionise EV charging infrastructure with its two patents related to EV charging technology.
According to the company, which is into manufacturing EV chargers and solar solutions, these patents will transform the EV charging infrastructure.
"These patents enable users to fast charge any GB/T Bharat DC 001 vehicle based on 72v/96VDC through a CCS2 connector using a small additional gadget. These two patents will transform the EV charging infrastructure using two different methodologies, contributing to a robust, interoperable, and cost-effective EV charging ecosystem," the company said in a regulatory filing.
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The company said that the innovation will also eliminate the need for dual infrastructure expenses and will benefit fleet services and vehicles like small trucks or lorries adhering to the GB/T Bharat DC 001 protocol by enabling charging via widespread CCS2 chargers.
Earlier, the company had filed two patents intending to facilitate grid service optimisation through a battery energy storage system and to effectively channel renewable energy into BESS (Battery Energy Storage System) for maximum value, enabling the transition to sustainable energy.
Meanwhile, the company has reported a more than three-fold increase in net profit in the second quarter at Rs 3.12 crore. The Delhi-based company has reported a net profit of Rs 78 lakh during the same quarter period of the preceding 2022-23 fiscal.
The profit in the quarter was aided by higher revenues, the company said in a regulatory filing.
Servotech is a leading manufacturer of solar, electric vehicle (EV) chargers, power-backup and other smart power solutions. The company recently signed an agreement with the Uttar Pradesh government to set up an EV charger manufacturing plant in the state at an investment of Rs 300 crore.