BARCELONA,
Spain and WESTBURY, N.Y., Aug. 24,
2021 /PRNewswire/ -- Wallbox, a leading provider of
electric vehicle (EV) charging solutions, today announced the
appointment of energy and mobility veteran Diego Diaz and automotive industry expert Pol
Soler to the Wallbox Board of Directors upon completion of
Wallbox's business combination with Kensington Capital Acquisition
Corp. II ("Kensington") (NYSE: KCAC), which is expected in the
third quarter of 2021.
Diego Diaz is currently the
Global Head of Ventures & Technology at Iberdrola. In this
role, he leads the organization's venture capital program,
Iberdrola Ventures, which invests in smart energy solutions
worldwide. Diaz plays a significant role in managing the
relationship between Wallbox and Iberdrola -- including Iberdrola's
plan to purchase the first 1,000 Wallbox SuperNova chargers -- and
has served as an observer for Wallbox's Board of Directors since
2019, when Iberdrola made its first investment in Wallbox. Ahead of
Wallbox's plans to go public, Diaz will now transition to a member
of the Board of Directors.
"I am honored to up level my role within the company and serve
on its board of directors," said Diaz. "In the months ahead, we
hope to continue strengthening Wallbox's relationship with
Iberdrola and provide our industry knowledge to help the company
continue to innovate and expand."
Pol Soler is the CEO of Quadis, a leading car dealership network
in Southern Europe representing
over 30 OEMs. An investor in local and international startups in
the transportation space, Soler was an early investor in Wallbox
and has been a member of the board since 2016. He brings over
fifteen years of experience in the automotive and transportation
industries at Quadis, the most recent eight as the company's CEO.
With hands-on experience working with over 30 OEM brands and a
unique understanding of car dealerships -- one of the largest
distribution channels for residential EV chargers -- Soler's
expertise will help Wallbox deepen its presence in these markets
and continue its expansion worldwide.
Soler added, "The future of the automotive industry is electric
-- and Wallbox is leading the charge. As demand for residential EV
charging options continues to grow, I am grateful for the
opportunity to draw upon my experience in managing businesses and
dealerships within the automotive industry to help Wallbox drive
this adoption, enhance its global presence and bring about the next
wave of transportation worldwide."
Through these appointments, Wallbox's Board of Directors
following the business combination with Kensington now includes
Enric Asunción, Anders Pettersson,
Francisco Riberas, Diego Diaz and Pol Soler.
"The addition of these two industry veterans to our Board of
Directors speaks to Wallbox's commitment to our corporate mission
of uniting the automotive and clean energy sectors through our
technology," said Enric Asunción, Co-Founder and Chief Executive
Officer of Wallbox. "Both Diaz and Soler bring significant
experience in the key sectors in which we operate, as well as a
strong familiarity with our company -- and their expertise will
help Wallbox to remain at the forefront of innovation in the EV
charging industry."
Justin Mirro, Chairman and Chief
Executive Officer of Kensington, added, "Diaz and Soler each bring
unique work experiences and a deep expertise in the automotive and
energy sector to the table. Their familiarity with Wallbox,
its partners and investors ensures they are aligned with Wallbox's
mission and growth plans, and I look forward to their contributions
to the combined company's board."
Transaction with Kensington
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". For additional information, please visit
www.wallbox.com.
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.
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 (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