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Niche Fusina and WaveTech Enter MOU to Power Electric Forklift Trucks with Crystal Control Technology
FUSINA, ITALY, March 28, 2023/EINPresswire.com/ -- WaveTech GmbH, a subsidiary of WaveTech Group, Inc., and Niche Fusina Rolled Products S.r.l. (Fusina) have entered into an agreement to test the application of WaveTech’s Crystal Control Technology (CCT) on their electric forklift trucks, to reduce operational and capital expenditures while reducing carbon emissions born by lead acid battery usage.
This agreement is a significant milestone for WaveTech, as it marks the company’s expansion into a new applicational segment within the motive power industry - specifically, electric forklift trucks. This is particularly important given that the aluminum production industry, a major player in the market, is heavily reliant on forklift trucks for their operations.
The MOU includes field trials to monitor the improvements of treating lead acid batteries with Crystal Control Technology on Fusina’s electric forklift trucks. The trials will take place at Fusina’s plant located in Marghera, in the Veneto region (Italy) considered one of the most industrialized areas of Europe. The company will also work with local institutions and introduce WaveTech to suppliers and local industries with successful results coming from the trial.
CEO of Fusina, Vincenzo Zinni, said “As part of our commitment to reducing the carbon footprint of our operations, we have entered into this MOU with WaveTech to optimize the usable life of the batteries in our forklift trucks. Upon a successful trial, we expect that Fusina can significantly reduce the carbon intensity by applying the novel and proven energy saving solution developed by WaveTech. Fusina is committed to contributing to the green economy”.
CEO of WaveTech Group, Inc., Dag Valand, said “We are pleased to partner with Fusina in this initiative which will show the positive impact our solution on battery consumption and energy storage for forklift trucks. Moreover, we thank Fusina for their trust and for allowing to demonstrate the commercial application of our crystal control technology to forklifts powered by batteries; this opens a new client segment for WaveTech, in addition to the telecom towers, data centers and UPS infrastructure segments. There are roughly 10 million forklift trucks in operation globally and about half of those are powered by electricity, representing a significant distribution potential for WaveTech’s Crystal Control Technology”.
About Fusina:
Fusina (a Dada holding) is one of the world’s leading producers of industrial rolled aluminum products and a major user of forklift trucks. Its plant caters to the commercial transportation, marine, and general engineering sectors. Their plant is composed of a cast house and rolling mill, to manufacture finished products such as “sheets”, “plates” and “shates”, with a production capacity of 75,000 metric tons. To learn more, visit https://www.fusinaproducts.com/
About WaveTech:
WaveTech is a technology company specializing in next-generation battery-enhancing technologies. WaveTech has a strong portfolio of technologies and a robust scientific foundation that allows the Company to substantially enhance all aspects of a battery’s life cycle; from production, use and maintenance, to its eventual recycling — improving overall performance, quality and costs. A perfect solution for energy storage applications. WaveTech is a Delaware corporation with operations in the U.S., Germany, Bulgaria and Turkey. To learn more, visit https://www.wavetech.com/.
On October 31, 2022, WaveTech Group and Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) (“WTMA”), a publicly-traded special purpose acquisition company, entered into a definitive merger agreement (the “Merger Agreement”) for a proposed business combination (the “Transaction”). As a result of the Transaction, the combined company is expected to be renamed WaveTech Group, Inc. and remain listed on the Nasdaq Stock Market under the proposed ticker symbol WAVT.
This agreement is a significant milestone for WaveTech, as it marks the company’s expansion into a new applicational segment within the motive power industry - specifically, electric forklift trucks. This is particularly important given that the aluminum production industry, a major player in the market, is heavily reliant on forklift trucks for their operations.
The MOU includes field trials to monitor the improvements of treating lead acid batteries with Crystal Control Technology on Fusina’s electric forklift trucks. The trials will take place at Fusina’s plant located in Marghera, in the Veneto region (Italy) considered one of the most industrialized areas of Europe. The company will also work with local institutions and introduce WaveTech to suppliers and local industries with successful results coming from the trial.
CEO of Fusina, Vincenzo Zinni, said “As part of our commitment to reducing the carbon footprint of our operations, we have entered into this MOU with WaveTech to optimize the usable life of the batteries in our forklift trucks. Upon a successful trial, we expect that Fusina can significantly reduce the carbon intensity by applying the novel and proven energy saving solution developed by WaveTech. Fusina is committed to contributing to the green economy”.
CEO of WaveTech Group, Inc., Dag Valand, said “We are pleased to partner with Fusina in this initiative which will show the positive impact our solution on battery consumption and energy storage for forklift trucks. Moreover, we thank Fusina for their trust and for allowing to demonstrate the commercial application of our crystal control technology to forklifts powered by batteries; this opens a new client segment for WaveTech, in addition to the telecom towers, data centers and UPS infrastructure segments. There are roughly 10 million forklift trucks in operation globally and about half of those are powered by electricity, representing a significant distribution potential for WaveTech’s Crystal Control Technology”.
About Fusina:
Fusina (a Dada holding) is one of the world’s leading producers of industrial rolled aluminum products and a major user of forklift trucks. Its plant caters to the commercial transportation, marine, and general engineering sectors. Their plant is composed of a cast house and rolling mill, to manufacture finished products such as “sheets”, “plates” and “shates”, with a production capacity of 75,000 metric tons. To learn more, visit https://www.fusinaproducts.com/
About WaveTech:
WaveTech is a technology company specializing in next-generation battery-enhancing technologies. WaveTech has a strong portfolio of technologies and a robust scientific foundation that allows the Company to substantially enhance all aspects of a battery’s life cycle; from production, use and maintenance, to its eventual recycling — improving overall performance, quality and costs. A perfect solution for energy storage applications. WaveTech is a Delaware corporation with operations in the U.S., Germany, Bulgaria and Turkey. To learn more, visit https://www.wavetech.com/.
On October 31, 2022, WaveTech Group and Welsbach Technology Metals Acquisition Corp. (NASDAQ: WTMA) (“WTMA”), a publicly-traded special purpose acquisition company, entered into a definitive merger agreement (the “Merger Agreement”) for a proposed business combination (the “Transaction”). As a result of the Transaction, the combined company is expected to be renamed WaveTech Group, Inc. and remain listed on the Nasdaq Stock Market under the proposed ticker symbol WAVT.
Daniel Byrne
Dada Holdings LLC
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