Electric Era Technologies – a leader in revolutionizing the world’s EV fast charging infrastructure with its proprietary PowerNode EV high-speed charging stations – recently announced an investment from Chevron Technology Ventures. The funding round aims to accelerate the deployment of Electric Era’s reliable, premium charging stations to gas stations and convenience stores throughout the US, advancing the future of car refill to locations historically forming the backbone of America’s transportation ecosystem.
Created by former SpaceX engineers, Electric Era’s PowerNode patented charging station technology and AI-driven software platform are designed to enable autonomous and real-time control of electrical grid power consumption and industry-leading reliability. And PowerNode’s built-in battery automatically discharges to support increased charging on-demand, lowering the draw on the electrical grid and enabling more charging sessions per day for a lower cost.
This leap in EV charging technology has the potential to unlock new revenue streams for store owners and brings reliable EV charging infrastructure into new communities – reducing a key friction point for electric vehicle adoption.
Electric Era’s first deployments of PowerNode EV fast charging stations at quick service retailers are set to go online in the coming weeks in the Portland metro area at a Plaid Pantry store and a Space Age Fuels outlet. And an additional installation at the Seven Feathers Travel Plaza in Southwest Oregon, and over 10 other installations across seven states are planned to begin before the end of 2023, aimed at bringing safe, well lit, affordable EV fast charging to drivers across the country.
This investment from Chevron Technology Ventures’ Future Energy fund is part of Electric Era’s series A financing led by HSBC Asset Management with participation from SQM Lithium Ventures, Blackhorn Ventures, and Proeza Ventures. Electric Era has received $20.5 million in funding to date.
KEY QUOTES:
“This investment will not only quickly expand our capacity to bring reliable, profitable EV charging stations to our valued convenience store and gas station partners across the country, but also exemplifies the power of industry partnerships to enable a more sustainable future for transportation.”
- Quincy Lee, founder and CEO of Electric Era
“Electric Era’s technology has the potential to enable delivery of an easier-to-deploy, fast charging solution at scale. This is the latest investment from our $300 million Future Energy Fund II, which focuses on industrial decarbonization, emerging mobility, energy decentralization, and the growing circular economy. We welcome Electric Era to the portfolio.”
- Jim Gable, Vice President, Innovation and President of Technology Ventures at Chevron
