Canaccord Genuity Keeps Buy Rating on Wallbox, Reduces Price Target to $5

New CFO Appointment: Wallbox has announced that Isabel López Trujillo will become the new Chief Financial Officer starting January 7, 2026, succeeding Luis Boada, who will assist during the transition.

Isabel's Experience: With over 20 years in financial leadership, Isabel previously served as Wallbox’s Vice President of Finance and is expected to enhance the company's financial strategy and support its growth.

CEO's Statement: Enric Asunción, CEO of Wallbox, expressed confidence in Isabel's leadership and her understanding of the company's culture and financial discipline as they aim for sustainable growth.

Acknowledgment of Outgoing CFO: Luis Boada, the outgoing CFO, was recognized for his contributions to Wallbox's financial foundations and new capital structure, and he expressed confidence in Isabel's ability to lead the company forward.

Partnership Expansion: Wallbox has expanded its partnership with Codale Electric Supply to enhance AC and DC fast charging infrastructure across Utah, Idaho, Wyoming, and Nevada, focusing on the deployment of Supernova DC fast chargers and Pulsar AC chargers.

Deployment Initiatives: Codale is actively coordinating the replacement of legacy charging systems and new installations at public, commercial, and multifamily sites, with early projects already underway in collaboration with charge point operators.

Infrastructure Growth: The partnership aims to streamline installation processes and improve network reliability, contributing to the growth of EV charging infrastructure in the Mountain West region.

Long-term Vision: Wallbox and Codale are committed to establishing a scalable model for EV infrastructure development, emphasizing the delivery of complete, future-proof charging solutions rather than just hardware distribution.

Launch of Supernova PowerRing: Wallbox has introduced the Supernova PowerRing, a modular fast-charging system capable of delivering up to 400 kW per outlet and a total capacity of 720 kW, designed for destination and semi-public charging sites.

Intelligent Power Distribution: The PowerRing system intelligently shares energy among multiple chargers, optimizing performance based on real-time demand, which enhances uptime and reduces infrastructure costs.

Scalable and Compact Design: The system can connect up to three Supernova units and six outlets, allowing for scalable configurations of 240, 480, or 720 kW, making it suitable for various environments like urban retail centers and commercial parking sites.

Future Rollout Plans: The Supernova PowerRing is set to begin phased rollout in Q1 2026, starting in Southern Europe, Benelux, and the UK/Ireland, with plans to expand into additional markets, including the United States.

Real-time Intelligence: Benzinga Pro offers fast and accurate stock market intelligence to help traders succeed.

Exclusive Stories: The platform provides exclusive news stories generated by Benzinga reporters for its users.

Community of Traders: Over 10,000 serious traders are part of the Benzinga Pro community, benefiting from the service.

Trade Alerts: Users can receive the fastest news alerts to stay updated on market movements and opportunities.

Leadership Appointments: Wallbox has appointed Ignasi Alastuey as Chief Business Officer and Luis Pereda as Chief Operations Officer to enhance its business and operational structure.

Experience and Expertise: Alastuey brings 14 years of international leadership experience from Mettler-Toledo, while Pereda has over 20 years in industrial operations, having worked with companies like GCR Group and Ecolab.

Growth Strategy: The new appointments aim to strengthen Wallbox's commercial capabilities and improve efficiency in industrial operations, supporting the company's growth objectives.

Company Overview: Wallbox is a global technology company focused on electric vehicle charging and energy management solutions, operating in over 100 countries since its founding in 2015.

Program Launch: North America's first multi-state bidirectional charging program has been launched, supporting 180 households in California and Connecticut, specifically for Kia EV9 owners using Wallbox's Quasar 2 charger and Bidirectional Energy's Virtual Power Plant platform.

Incentives and Benefits: Participants can receive up to $10,800 in incentives, along with potential annual savings and earnings from grid services, making it financially attractive for homeowners to adopt this technology.

Technology and Functionality: The Quasar 2 charger allows EV owners to power their homes or send energy back to the grid, providing backup power during outages and enabling greater control over energy usage.

Eligibility and Enrollment: To participate, homeowners must own a Kia EV9, reside in eligible homes, and agree to share charging data, with a focus on equitable access for priority populations in both states.