EVWire brief: SparkCharge, the EV fleet Charging-as-a-Service (CaaS) company that is also the world's largest off-grid EV charging network, raised a $15.5M Series A-1 round led by Monteโs Fam and also secured a $15 million venture loan from Horizon Technology Finance Corporation. Sparkcharge has already delivered 4,200,000+ kWh in over 120,000 across the US, Canada and Mexico for its partners.
Context:
SparkCharge provides mobile EV charging solutions to various customers across industries spanning fleets, delivery services, events, auto OEMs, ports, transportation, autonomous vehicles, and rideshare.
If youโve been reading EVwire (formerly EV Universe) for longer, you might remember us covering SparkChargeโs early days as it started its CaaS journey by deploying mobile charging via the modules it developed. The offering has evolved quite a bit over the years:
Its Charging-as-a-Service (CaaS) programs are divided as:
Mobile Battery Charging: A flexible 80-300 kW battery-powered DC fast charging (DCFC) EV charging solution that can be instantly deployed to a fleet. This solution offers white glove, self-managed, or hybrid service, meaning you can tailor the level of service that your operations need.
Off-Grid Power Hub: A 180-500 kW grid-independent DCFC solution built to deliver large-scale EV charging and all-in-one energy management with a clean energy-powered microgrid, allowing for multiple EVs to be charged simultaneously.
Per the CEO, 95% of SparkChargeโs customers use its off-grid chargers.Permanent EV Infrastructure: A turnkey end-to-end EV charging solution that begins with mobile and off-grid solutions and transitions into permanent grid-connected infrastructure. This integrated approach covers everythingโfrom planning and permits to final construction and commissioning.
โBasically, we can come in, service all their vehicles, charge all their vehicles, and they donโt have to worry about grid delays, connection. They donโt have to worry about any of that trenching, digging, tunneling, the construction.
The CEO also said the costs depend on the customer and the size of the fleet, but typically run between $0.35/kWh to $0.60/kWh.
โIf a fleet uses 1,000 kilowatt-hours, then they only pay for that 1,000 kilowatt-hours. If they only use five kilowatt hours, they only pay for five kilowatt-hours. It allows the fleet to really be nimble and flexible with how theyโre charging their cars. If they see a big uptick, then thatโs fine, right? Theyโre covered. If they have a low season, thatโs fine. Theyโre covered.โ
Source: SparkCharge, TechCrunch
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