Electric Era announces investment from Chevron Technology Ventures to Scale PowerNode EV charging stations

Electric Era Technologies, maker of PowerNode high-speed EV charging stations, has announced an investment from Chevron Technology Ventures. The investment is aimed at accelerating the deployment of Electric Era’s charging stations to gas stations and convenience stores throughout the US.

The new investment 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.

Developed by former SpaceX engineers, Electric Era’s patented PowerNode charging station technology and AI-driven software platform are designed to enable autonomous, real-time control of power consumption. PowerNode’s built-in battery automatically discharges to support charging demand, lowering the draw on the electrical grid.

Electric Era’s first deployments of its 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. An additional installation at the Seven Feathers Travel Plaza in Southwest Oregon, and more than 10 other installations across seven states, are planned to begin before the end of 2023.

“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,” said Quincy Lee, founder and CEO of Electric Era.

Source: Electric Era


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