Wallbox Expands Fast-Charging in the UK Through Strategic Partnership with Believ

Partnership Set to Accelerate UK’s EV Charging Infrastructure with Advanced DC Fast Charging Technology

BARCELONA, Spain, February 18, 2025 – Wallbox (NYSE: WBX), a global leader in electric vehicle charging and energy management solutions, and Electric Vehicle (EV) charge point operator (CPO), Believ, announced today a strategic partnership to roll out Wallbox’s rapid and ultra-rapid charge point solutions across the United Kingdom.

The partnership will introduce Wallbox’s comprehensive DC fast charging portfolio, including the company’s 60kW, 120kW, 150kW, and 220kW Supernova models, significantly expanding the availability of high-power charging options throughout the UK. These cutting-edge chargers are designed to meet the growing demand for rapid charging at strategic locations where drivers typically spend less time, such as along major travel routes and at popular retail destinations.

“Partnering with Believ allows us to bring our high-performance charging technology to more drivers across the UK, ensuring they have access to fast, reliable charging where they need it most,” said Douglas Alfaro, Chief Fast Charging Officer at Wallbox. “With our scalable solutions, we’re not only addressing today’s charging needs but also supporting the UK’s transition to an electrified future.”

Wallbox’s DC fast charging technology offers a future-proof solution that can be scaled to meet increasing demand, allowing charge point operators to efficiently expand their networks as EV adoption grows. The partnership has already achieved its first milestone with an initial installation in Scotland, marking the beginning of a nationwide rollout.

“Our goal is to deliver the robust infrastructure that not only serves existing EV drivers but also encourages more to make the transition away from petrol and diesel vehicles,” said Guy Bartlett, Chief Executive Officer at Believ. “Drivers need to see charging technology working well at convenient locations that serve regular journeys, as well as their favorite restaurants, coffee shops, and supermarket destinations. Crucial to this is that CPOs deliver the full range of charging speeds depending on site needs and driver dwell times.”

Believ, backed by Liberty Global and Zouk Capital, which manages the HM Treasury-backed Charging Infrastructure Investment Fund (CIIF), will leverage Wallbox’s technology to enhance the UK’s charging infrastructure. This collaboration represents a significant step in Wallbox’s expansion in the UK market and reinforces the company’s position as a leading provider of EV charging solutions globally.

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 115 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com

About Believ          

Believ, the trading name of Liberty Charge Limited, is an electric vehicle (EV) charge point operator (CPO) on a mission to deliver cleaner air for all. It installs, operates and maintains all speeds of publicly accessible charge points at zero cost to both public and business sectors. Believ uses 100% renewable energy as part of its overarching passion and commitment to minimising the effects of climate change.     

Believ is funded by Liberty Global Ventures and Zouk Capital, the manager of the HM Treasury-backed Charging Infrastructure Investment Fund (CIIF). Believ partners with sister company Virgin Media O2 in the deployment of charging infrastructure, enabling the installation of charge points at scale and pace throughout the UK.      

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the private placement. The words “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; losses or disruptions in Wallbox’s supply or manufacturing partners; impacts resulting from the conflict between Russia and Ukraine; risks related to macro-economic conditions and inflation; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; as well as the other important factors discussed and incorporated by reference under the heading “Risk Factors” in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023, and as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.