Shares of Servotech Power Systems Limited traded almost 3 percent higher to Rs 78 in early trade on December 7 after the company announced it has filed two patents related to EV charging technology.
"These patents enable users to fast charge any vehicle based on 72-volt or a 96-volt direct current source through a combine charging system (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 an exchange filing on December 6.
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The company also said this breakthrough will eliminate the need for dual infrastructure expenses by enabling users to charge vehicles through widely available CCS2 chargers in the country. The new patent also unlocks new markets for GB/T Bharat, a fast-charging standard for EVs in India. "This significantly eases travel for EV owners between India and Europe", the exchange filing further added.
Previously, the company had filed two patents to streamline grid service optimization through a battery energy storage system and efficiently channel renewable energy. These innovations revolutionized energy management and enhanced overall efficiency. Both of these cutting-edge technologies have applications across a wide range of fields, including solar and electric vehicle charging systems.
"These patents absolutely act as act as major contributors in developing India’s EV charging infrastructure, fueling a future where accessibility and innovation converge", Arun Handa, CTO of the company said.
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