BARCELONA,
Spain and WESTBURY, N.Y. , July 16, 2021 /PRNewswire/ -- Wallbox, a leading
provider of electric vehicle (EV) charging solutions, announced
today that Enric Asunción, the company's Co-Founder and Chief
Executive Officer, has been invited to accompany the President of
the Government of Spain, Pedro
Sánchez Pérez-Castejón, on a trade mission to the United States.
The trip is intended to drive commercial collaboration between
the U.S. and Spain, and will
include visits with government officials, prominent corporate
leaders, investors, and the media. Mr. Asunción joins four other
Spanish entrepreneurs on the multi-day trip, which will include
meetings in and around New York,
Los Angeles and San Francisco, and will take place from
July 21 to July 23, 2021.
"It is an honor and a privilege to have been selected by the
cabinet of the President to participate in this momentous trip,"
commented Mr. Asunción. "I am proud to join President Sánchez and
the other Spanish entrepreneurs as we seek to raise awareness of
the immense talent and enterprising spirit that exists in
Spain, and to raise our country's
profile as a leader in innovation and business."
Founded in 2015, Wallbox is a vertically integrated provider of
smart charging and energy management solutions for residential,
semi-public and public use. The company has sold more than 100,000
units to-date and offers the only DC bidirectional charging unit
for residential applications in the market. It has nine offices
across three continents and sales across 67 countries, which
includes its entry into the U.S. with the opening of its U.S.
office earlier in 2021.
In June, Wallbox and Kensington Capital Acquisition Corp. II
("Kensington") (NYSE:KCAC)
announced a business combination that is expected to result in
Wallbox becoming a publicly traded company on the NYSE under the
ticker symbol "WBX" (see here for more information).
"The U.S. market provides significant opportunities for Wallbox
to grow its business," continued Mr. Asunción. "Wallbox has seen
very strong traction in the early months of offering our products
in the U.S. Automotive electrification is on the cusp of inflection
in the U.S., aided by President Biden's American Jobs Plan and its
push to promote electric vehicles, particularly through charging
infrastructure, and the push from OEMs to electrify their vehicle
portfolio. In the coming months, we look forward to finalizing our
plans for our first North American facility in the U.S., which as
we've noted in the past, is expected to open in the third quarter
of 2022.
I very much look forward to this trip, and would like to thank
President Sánchez for giving me the opportunity to join him and my
esteemed colleagues on this visit to the U.S."
About Wallbox
Wallbox is a global company, dedicated
to changing the way the world uses energy in the electric vehicle
industry. Wallbox creates smart charging systems that combine
innovative technology with outstanding design and manage the
communication between vehicle, grid, building and charger.
Wallbox offers a complete portfolio of charging and
energy management solutions for residential, semi-public and public
use in more than 60 countries.
Founded in 2015, with headquarters in Barcelona, Wallbox's mission is to facilitate
the adoption of electric vehicles today to make more
sustainable use of energy tomorrow. The company employs
over 500 people in Europe,
Asia, and the Americas.
Wallbox and Kensington
announced a business combination in June
2021 that is expected to result in Wallbox becoming a
publicly traded company on the NYSE under the ticker symbol
"WBX".
For additional information, please visit www.wallbox.com.
About Kensington
Kensington Capital Acquisition Corp. II (NYSE: KCAC) is a special
purpose acquisition company formed for the purpose of effecting a
merger, stock purchase or similar business combination with a
business in the automotive and automotive-related sector. The
company is sponsored by Kensington Capital Partners ("KCP") and the
management team of Justin Mirro,
Bob Remenar, Simon Boag and Dan
Huber. The company is also supported by a board of
independent directors including Tom
LaSorda, Nicole Nason,
Anders Pettersson, Mitch Quain, Don
Runkle and Matt
Simoncini. The Kensington team has completed over 70
automotive transactions and has over 300 years of combined
experience leading some of the largest automotive companies in the
world.
For additional information, please visit
www.autospac.com.
Additional Information
This communication is being
made in respect of the proposed transaction involving Wallbox
Chargers, S.L. ("Wallbox"), Wallbox B.V. and Kensington
Capital Acquisition Corp. II ("Kensington"). This communication does not
constitute an offer to sell or the solicitation of an offer to buy
any securities or a solicitation of any vote or approval, nor shall
there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such jurisdiction. In
connection with the proposed transaction, Wallbox B.V. will file
with the Securities and Exchange Commission ("SEC") a registration
statement on Form F-4 that will include a proxy statement of
Kensington in connection with Kensington's solicitation of proxies for the
vote by Kensington's shareholders
with respect to the proposed transaction and other matters as may
be described in the registration statement. Wallbox and
Kensington also plan to file other
documents with the SEC regarding the proposed transaction and a
proxy statement/prospectus will be mailed to holders of shares of
Kensington's Class A ordinary shares. BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE FORM F-4 AND
THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION
AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY IN THEIR ENTIRETY WHEN
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy
statement/prospectus, as well as other filings containing
information about Wallbox and Kensington will be available without charge at
the SEC's Internet site (http://www.sec.gov). Copies of the proxy
statement/prospectus can also be obtained, when available, without
charge, from Wallbox's website at www.wallbox.com.
Copies of the proxy statement/prospectus can be obtained, when
available, without charge, from Kensington's website at www.autospac.com.
Participants in the Solicitations
Wallbox, Wallbox
B.V., Kensington and certain of
their respective directors, executive officers and other members of
management and employees may, under SEC rules, be deemed to be
participants in the solicitation of proxies from Kensington's shareholders in connection with
the proposed transaction. You can find more information about
Kensington's directors and
executive officers in Kensington's
final prospectus dated February 25,
2021 and filed with the SEC on February 26, 2021. Additional information
regarding the participants in the proxy solicitation and a
description of their direct and indirect interests will be included
in the proxy statement/prospectus when it becomes available.
Shareholders, potential investors and other interested persons
should read the proxy statement/prospectus carefully when it
becomes available before making any voting or investment decisions.
You may obtain free copies of these documents from the sources
indicated above.
No Offer or Solicitation
This communication does not
constitute an offer to sell or the solicitation of an offer to buy
any securities, or a solicitation of any vote or approval, nor
shall there be any sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made except by
means of a prospectus meeting the requirements of section 10 of the
Securities Act, or an exemption therefrom.
Caution About Forward-Looking Statements
The
information in this press release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of present or historical fact
included in this press release, regarding Kensington's proposed business combination
with Wallbox, Kensington's ability to consummate the
transaction, the development and performance of Wallbox's products
(including the timeframe for development of such products), the
benefits of the transaction and the combined company's future
financial performance, as well as the combined company's strategy,
future operations, estimated financial position, estimated revenues
and losses, projected costs, prospects, plans and objectives of
management are forward-looking statements. When used in this press
release, the words "are designed to," "could," "should," "will,"
"may," "believe," "anticipate," "intend," "estimate," "expect,"
"project," the negative of such terms and other similar expressions
are intended to identify forward-looking statements, although not
all forward-looking statements contain such identifying words.
These forward-looking statements are based on management's current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law,
Wallbox disclaims any duty to update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
hereof. Wallbox cautions you that these forward-looking statements
are subject to numerous risks and uncertainties, most of which are
difficult to predict and many of which are beyond the control of
either Kensington or Wallbox. In
addition, Wallbox cautions you that the forward-looking statements
contained herein are subject to the following uncertainties and
risk factors that could affect Wallbox's and Kensington's future performance and cause
results to differ from the forward-looking statements herein:
Wallbox's ability to realize the anticipated benefits of the
business combination, which may be affected by, among other things,
competition and the ability of Wallbox to grow and manage growth
profitably following the business combination; risks relating to
the outcome and timing of the Company's development of its charging
and energy management technology and related manufacturing
processes; intense competition in the electric vehicle charging
space; risks related to health pandemics, including the COVID-19
pandemic; the possibility that Wallbox may be adversely affected by
other economic, business, and/or competitive factors; the
possibility that the expected timeframe for, and other expectations
regarding the development and performance of, Wallbox products will
differ from current assumptions; the occurrence of any event,
change or other circumstances that could give rise to the
termination of the business combination; the outcome of any legal
proceedings that may be instituted against Kensington or Wallbox, the combined company or
others following the announcement of the business combination; the
inability to complete the business combination due to the failure
to obtain approval of the shareholders of Kensington or to satisfy other conditions to
closing; changes to the proposed structure of the business
combination that may be required or appropriate as a result of
applicable laws or regulations; the ability to meet stock exchange
listing standards following the consummation of the business
combination; the risk that the business combination disrupts
current plans and operations of Kensington or Wallbox as a result of the
announcement and consummation of the business combination; costs
related to the business combination; changes in applicable laws or
regulations; and underlying assumptions with respect to shareholder
redemptions. Should one or more of the risks or uncertainties
described in this press release, or should underlying assumptions
prove incorrect, actual results and plans could different
materially from those expressed in any forward-looking statements.
Additional information concerning these and other factors that may
impact the operations and projections discussed herein can be found
in Kensington's periodic filings
with the SEC, and the proxy statement/prospectus of Wallbox B.V. in
the registration statement on Form F-4 filed with the SEC.
Kensington's and Wallbox B.V.'s
SEC filings are available publicly on the SEC's website at
www.sec.gov.
Contacts:
For Wallbox
Investors
ICR,
Inc.
investors@wallbox.com
Media
ICR, Inc.
WallboxPR@icrinc.com
For Kensington
Dan
Huber
dan@kensington-cap.com
703-674-6514
Related Links:
www.wallbox.com
www.autospac.com
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SOURCE Kensington Capital Acquisition Corp. II