ZOOZ Power Explores Strategic Opportunities as Leading Defense Company Commences POC for Flywheel-Based Power Booster

Core Insights - ZOOZ Power's board of directors has approved a plan to explore strategic alternatives to leverage its patented flywheel technology [2] - The company is conducting a proof of concept (POC) with a defense electronics company to develop a short-duration power booster for challenging environments, which could expand its market applications [3][5] - A company-wide cost reduction initiative aims to decrease operating costs by approximately 35%, enhancing business flexibility and focus on high-growth areas [4][5] Company Overview - ZOOZ Power specializes in flywheel-based power boosters and energy management systems, facilitating ultra-fast EV charging solutions [2][6] - The company's flywheel technology is designed to optimize power management at EV charging sites, providing reliable and cost-effective infrastructure [7] - ZOOZ Power's solutions are environmentally sustainable, promoting the deployment of fast-charging infrastructure and improving efficiency and profitability for its customers [8]