Zap&Go Awarded Horizon 2020 Grant by European Commission

$1.6m Grant to Fund Integration of Fast-Charging Battery Technology
into Cordless Tools

OXFORD, England–(BUSINESS WIRE)–ZapGo Ltd (Zap&Go) has been awarded a grant worth €1,43m (US$1.6m) by
Horizon 2020, the European Union Framework Program for Research and
Innovation. Zap&Go will use the grant to perfect the prototype cordless
tools it has already developed, powered by its fast-charging cells. They
will then be commercialized by OEMs in the fast-growing cordless sector.

Stephen Voller, founder and CEO, said, “In contrast to Lithium-ion
batteries, our Carbon-Ion cells charge in five minutes or less and are
proven to be safe to handle with fire risk. It is an honor to be one of
the small percentage of organizations to have been selected for funding
by the Horizon 2020 program and we look forward to pursuing the
development program described in our grant proposal.”

In a self-funded feasibility study, Zap&Go established consumers’
interest in cordless tools employing its technology and has received
commitments from major OEMs in joint development agreements. In the
project being funded by Horizon 2020, Zap&Go intends to further develop
its power modules and electronics, integrating them with cordless tools
such as vacuum cleaners and power drills, then to build units to conduct
customer trials.

According to the European Commission, less than one in twenty Horizon
2020 grant proposals succeed in getting funded, which highlights the
program’s selectivity. The grant is, however, unaffected by the UK’s
proposed separation from the EU in the years ahead.

About Horizon 2020

Horizon 2020 is the biggest EU Research and Innovation program ever with
nearly €80 billion of funding available over seven years (2014 to 2020)
– in addition to the private investment that this money will attract. It
promises more breakthroughs, discoveries and world-firsts by taking
great ideas from the lab to the market. Horizon 2020 is the financial
instrument implementing the Innovation Union, a Europe 2020 flagship
initiative aimed at securing Europe’s global competitiveness. Seen as a
means to drive economic growth and create jobs, Horizon 2020 has the
political backing of Europe’s leaders and the Members of the European
Parliament. They agreed that research is an investment in our future and
so put it at the heart of the EU’s blueprint for smart, sustainable and
inclusive growth and jobs. By coupling research and innovation, Horizon
2020 is helping to achieve this with its emphasis on excellent science,
industrial leadership and tackling societal challenges. The goal is to
ensure Europe produces world-class science, removes barriers to
innovation and makes it easier for the public and private sectors to
work together in delivering innovation.

About Zap&Go

ZapGo Ltd is a technology company based at the Harwell Research Campus,
Oxford with its US office in Charlotte, NC. Using novel nano-carbon
materials as well as proprietary electrolytes they produce an
ultra-fast, safe and durable power module that charges up in less than
five minutes. For more information, please visit www.zapgo.com.

Contacts

ZapGo Ltd
Greg Osborn, 201-410-6699
greg.osborn@zapgo.com
or
Media:
DGI
Comm
Susan Forman, 212-825-3210
sforman@dgicomm.com