Gogoro Announces Traffic signal battery backup system with Far EasTone

New Traffic Signal Backup System Utilizes Swappable Gogoro Batteries To Prevent Traffic Signal Power Outages

New System Demonstrates Success By Maintaining Traffic Flow During The Recent Power Outage in Taiwan.

TAIPEI, Taiwan, March 22, 2022 /PRNewswire/ -- Gogoro^® Inc., a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced a Smart Traffic Signal Uninterruptible Power System (UPS) that was developed in cooperation with Far EasTone.

Designed to eliminate traffic signal interruptions during power outages and maintain traffic safety, the Smart Traffic Signal UPS has been in testing and already demonstrated success during Taiwan's recent power outages in early March 2022 by enabling traffic signals to remain operational for two hours until the power returned.

"Gogoro is best known for our industry leading urban battery swapping ecosystem for two-wheel vehicles, but we are really beginning to see the broad potential that portable, swappable power has in urban environments like traffic signal backup, parking meters and streetlights," said Horace Luke, founder, chairman, and chief executive officer of Gogoro. "The Gogoro-powered Smart Traffic Signal UPS we developed with Far EasTone is another practical example of how portable power is enabling a new phase of urban management for cities to become smarter and more connected."

The Smart Traffic Signal UPS is equipped with two swappable Gogoro smart batteries that can maintain traffic signals for up to 3.5 hours, and are connected to Far EasTone's UPS monitoring platform to perform real-time monitoring and power outage alerts. If there is an outage, the maintenance team can detect it and deal with it as soon as possible and even if the outage lasts longer, the maintenance team can swap out depleted batteries for charged ones to extend the service time of the traffic signal.

Gogoro and Far EasTone are actively working with the Taipei City Government to commercially deploy the Smart Traffic Signal UPS and are in discussions with other city and county governments in Taiwan to introduce the solution.

At the heart of Gogoro's ecosystem is the Gogoro Network, an open and interoperable battery swapping platform that was recognized in 2021 by Guidehouse Insights as the leading battery swapping company for lightweight urban vehicles in the world. Gogoro Network is a new generation of swappable battery refueling that is smart, scalable, and continually optimizing itself to be dynamic and versatile for people, communities, and businesses. With more than 450,000 riders and over 10,000 battery swapping GoStations at over 2,300 locations, Gogoro Network is hosting 340,000 daily battery swaps with more than 270 million total battery swaps to date. Gogoro Battery Swapping has become the de facto battery swapping standard for two-wheel vehicles in Taiwan, powering 95% of all electric two-wheelers. 

Founded in 2011 to rethink urban energy and inspire the world to move through cities in smarter and more sustainable ways, Gogoro leverages the power of innovation to change the way urban energy is distributed and consumed. Gogoro's battery swapping and vehicle platforms offer a smart, proven and sustainable long-term ecosystem for delivering a new approach to urban mobility. Gogoro has quickly become an innovation leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery availability and safety. The challenge is massive, but the opportunity to disrupt the status quo, establish new standards, and achieve new levels of sustainable transportation growth in densely populated cities is even greater. For more information, visit www.gogoro.com/news and follow Gogoro on Twitter: @wearegogoro.

This communication contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended ("Exchange Act") that are based on beliefs and assumptions and on information currently available to Gogoro Inc. ("Gogoro"). In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, timing, projections or other characterizations of future events or circumstances, including expectations related to any projections of market opportunity including for portable, swappable power, the ability of Gogoro's business model to be successful in the future, future products, the timing of launch of any future products, the capability of Gogoro's technology including its Smart Traffic Signal Uninterruptible Power System, Gogoro's ability to continue to develop its technology or develop new technology, Gogoro's business plans including its deployment plan for Smart Traffic Signal UPS, any benefits of Gogoro's relationship with Far EasTone and statements by Gogoro's chief executive officer are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although Gogoro believes that it has a reasonable basis for each forward-looking statement contained in this communication, Gogoro cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the definitive proxy statement/final prospectus filed and any amendments and supplements thereto, by Gogoro and Poema Global Holdings Corp. ("Poema Global") with the relating to the proposed transaction and other documents filed, or to be filed, by Gogoro or Poema Global from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Gogoro cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that Gogoro does not presently know or currently believes are immaterial that could also cause actual results to differ from those contained in the forward looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Gogoro and its directors, officers or employees or any other person that Gogoro will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this communication represent the views of Gogoro as of the date of this communication. Subsequent events and developments may cause those views to change. However, while Gogoro may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of Gogoro as of any date subsequent to the date of this communication.

SOURCE Gogoro