Hypercharge Networks Corp.
Hypercharge Networks Corp, a smart electric vehicle (EV) charging solutions provider, is pleased to provide the following corporate update in conjunction with the Company’s listing on the NEO Exchange this morning.
Since Hypercharge launched its EV charging solutions in April of this year, it’s already sold over 600 new charging ports at 102 sites across North America and built a pipeline of projects worth north of $9 million in potential opportunities. Hypercharge’s next steps are to continue to expand its foothold across Canada while working closely with partners to continue its expansion into the U.S. market.
“There is a clear and growing trend towards the broad adoption of EVs in both the consumer and commercial auto markets,” says David Bibby, CEO, and Co-Founder of Hypercharge. “Developing the infrastructure to support this growth is crucial for the success of widespread EV adoption. We are delivering this and taking it one step further, by offering smart EV technology that can support the success of a range of customers including multi-unit residential, commercial retail, and fleet operators.”
Hypercharge offers a unique turnkey combination of industry-leading hardware, software, and services, sold directly and through a growing partner channel of installers and service providers. Hypercharge provides its customers with simple, reliable EV charging solutions that grow their revenue and accelerate the shift toward a carbon-neutral economy.
“Today’s listing on the NEO Exchange is an exciting milestone for the Company,” adds Bibby. “We are the first Canadian-founded EV charging company to go public, and we are excited to invite investors to participate in the growth of Hypercharge and the growth of the carbon-neutral economy in Canada, the U.S., and beyond.”
A 2022 Bloomberg NEF report estimates that EV adoption is forecasted to reach 52% in the U.S by 2030, and Natural Resources Canada estimated in a 2022 report that EV adoption is expected to reach 60% in Canada that same year, up from 8% where it currently sits. This is being driven by a variety of factors, including increased government funding and evolving consumer tastes. Fortune Business Insights projects that the global electric vehicle charging stations market size is expected to grow from US$17.59 billion in 2021 to US$111.90 billion by 2028.
Hypercharge is also pleased to announce that it has entered into an agreement with Oil and Gas Investments Bulletin (OGIB) (Corporate Bulletin dated Nov 16, 2022), for the provision of various corporate communications services for a 12-month term. Pursuant to the agreement, the Company will pay the service provider $175,000 in cash over the term. The Company and the service provider act at arm's length. The service provider is a Canadian editor and publisher that produces informational content targeted to retail investors, which is published on two websites.