RCS - Y2 Solution - Y2 Solution EV Fast-Charging Infrastructure in NA
20/12/2022 08:15
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221220:nRST2393Ka&default-theme=true RNS Number : 2393K Y2 Solution 20 December 2022 Y2 Solution - PRESS RELEASE Dec-20-2022 Y2 Solution Announces Plans for EV Fast-Charging Infrastructure Expansion in North America Seoul, Korea & Chicago, USA: Y2 Solution (Listed KOSPI : 011690), today announced ambitious plans for the North American EV DC Fast-Charging market with the pre-release of its innovative 30kW DC Fast-Charging Power Module. Leveraging over 40 years of experience as a premium power solutions company, Y2 Solution is taking the bold next steps to bring its expertise to the expanding North American market. With the recently announced US federal funding to develop a nationwide EV charging network along public highways, it is estimated that over 500,000 new EV Charging Stations will be installed across the country. To rapidly develop this infrastructure will require power modules with high capacity, efficiency and reliability, where Y2 excels. More critically, the strategic supply chain required to meet this demand further reinforces Y2 Solution's value with flexible manufacturing sources in Korea and Vietnam, and an objective of establishing a North American manufacturing base within the next 2 years. "Y2 Solution is not new to the Power Module market. Our mission is to bring the highest quality solution to the expanding North American market during this exciting time in EV infrastructure development", said Harry Kang, Y2 Solution's CEO. "With our 40 years of advanced R&D, innovation, world class manufacturing and quality assurance we are confident that we will have a major impact in the Electric Vehicle Charging industry." Y2's high capacity 30kW power module for DC fast chargers significantly reduces the charging time for electric vehicles. With up to 96% efficiency, a universal voltage input range from 304V AC to 528V AC, and voltage output of 150V to 1000V, these modules offer flexibility and scalability for EV charger manufacturers in North America. A 50kW power module solution is also in development. "Y2 Solution manages the entire process, from R&D to mass production, and maintains a rigorous quality management system based on globally recognized standards and certifications. We deliver the highest reliability and quality possible in this industry." Stated DY Huh, PhD, Y2 Solution's R&D President. The demand for reliability and performance in the North American market has created the ideal conditions for the next phase of Y2 Solution's growth. Y2 Solution will be hosting a private show at the Trump International Hotel in Las Vegas (Jan. 5-7, 2023). Please visit our website https://www.y2solution.com/ (https://www.y2solution.com/) or contact PatrickKang@y2solution.com (mailto:PatrickKang@y2solution.com) for more information. About Y2 Solution For over 40 years, Y2 Solution has proven its' technology leadership in advanced power supply design, engineering and manufacturing across industries from defence, telecom, consumer electronics, LED lighting and now, EV charging. Y2 Solution developed the world's first ultra-slim power module, and their premium power supplies are used in UHD and OLED TVs for a major global TV brand for over 30 years. Y2 Solution in based in Korea, with factories in Vietnam, China, and offices in the US. Y2 Solution is publicly listed on the KOSPI (011690) since 1995. Forward-looking Statements This press release contains "forward-looking statements" that involve risks, uncertainties, and assumptions that, if they never materialize or prove incorrect, could cause the results of Y2 Solution to differ materially from those expressed or implied by such statements. Media Contacts: Eric J. Oh Sr. VP of Global Business Operations Y2 Solution Co. Ltd. +82 10 7711 1277 eoh911@y2solution.com (http://gw.y2solution.com/DeskPlusEIP/Portlet/Package/UserSearch/AccountInfo.aspx?p=dXNlck5hbWU9JXVDNjI0JXVDODg1JXVCQkZDJmRlcHRJRD0mZ3VidW49MCZkZXB0TmFtZT0=) Hailey You Manager of Business Planning Y2 Solution Co. Ltd. +82 10 2237 6326 hailey.you@y2solution.com (http://gw.y2solution.com/DeskPlusEIP/Portlet/Package/UserSearch/AccountInfo.aspx?p=dXNlck5hbWU9JXVDNjI0JXVDODg1JXVCQkZDJmRlcHRJRD0mZ3VidW49MCZkZXB0TmFtZT0%3d) Lawrence Madanda Director Strategic Marketing NA Y2 Solution Co. 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