EVCS, which operates a community of DC quick chargers on the US West Coast, lately accomplished a $68- million funding increase, comprised of a $50 million debt facility from Spring Lane Capital and a Sequence A fairness funding of $18.8 million.
EVCS will use the brand new capital to increase into no less than 35 new cities throughout California and Washington, and to extend charger density in its current communities. EVCS plans to greater than double its community footprint to just about 1,500 chargers by 2023. The corporate may also use the funds to rent extra employees, enhance digital product experiences and improve consciousness of its subscription-based charging plan.
EVCS says it makes use of 100% renewable vitality to energy its community.
“With over 600 chargers in California, Oregon and Washington, we’ve grown to develop into one of many largest EV quick charging networks within the US,” mentioned Gustavo Occhiuzzo, CEO and co-founder of EVCS. “With this new spherical of funding, we’re thrilled to extend EV driver entry to our limitless charging subscription product by greater than doubling our charger footprint over the subsequent 18 months.”
“EVCS has been an innovator within the EV charging sector, simplifying advanced electrical energy pricing and saving the everyday EV driver 1000’s of {dollars} yearly with our limitless charging subscription plan,” mentioned Ian Vishnevsky, COO/CFO and co-founder of EVCS.
Supply: EVCS
