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EVCS Raises $68.8 Million to Accelerate Expansion of West Coast EV Fast Charging Network
LOS ANGELES – July 6, 2022 — EVCS, one of the largest electric vehicle (EV) fast-charging network operators on the West Coast, today announced the completion of a $68.8 million funding raise, comprised of a $50 million debt facility from Spring Lane Capital, and a Series A equity investment of $18.8 million co-led by Abdo Partners, Spring Lane Capital and the Copulos Group, an Australian Private Global Investor. Jett Capital Advisors also provided investment banking advisory services in support of the equity capital raise. The capital raised will support EVCS’ rapid expansion into 35+ new cities across California and Washington as well as increase charger density in its existing communities. EVCS plans to more than double its network footprint to nearly 1,500 chargers by 2023.
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EVCS, ODOT and Gov. Kate Brown Celebrate The Completion of First Phase Upgrades to West Coast Electric Highway
LOS ANGELES – May 24, 2022 -- EV Charging Solutions (EVCS), one of the largest electric vehicle (EV) fast-charging network operators on the West Coast, today celebrated the highly anticipated completion of first phase upgrades to Oregon’s portion of the West Coast Electric Highway (WCEH)....
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Installation of the Month (May 2022): Cannon Beach
We have decided to name one of our most celebrated new installations – what has become a crown jewel in our revamped West Coast Electric Highway (WCEH) – the featured site for May 2022: Cannon Beach RV Resort in beautiful Cannon Beach, Oregon....
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What New $1.4B CEC Funding Means to California
If you’re a Californian, this Thanksgiving season brought a lot to be thankful for, notwithstanding both the Rams and Chargers getting shellacked on the road nor the average 24% price increase of frozen turkeys. No, rather we’re referring to the three-year $1.4 billion funding initiative that was quietly approved by the California Energy Commission the week before the feast-filled holiday kicked off. The goal? Close the Golden State’s 2025 infrastructure funding gap and speed up the push toward Governor Newsom’s plan for a zero-emission “autopia.”
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New EV Tax Incentives Will Drive Infrastructure Growth
Rarely has the progress of a fledgling new industry been so predicated upon passage of legislation as was the clean energy transportation sector with the $1.2 trillion once-in-a-lifetime infrastructure bill that Joe Biden signed into law on Monday. In addition to money for roads, bridges, ports, public transit – you know, all the usual stuff – the Build Back Better bill provides bold new incentives for drivers to go electric, including a $7,500 tax credit for EV buyers through 2026. Cars costing $50,000 or less and trucks, vans and SUVs costing $80,000 or less will qualify.
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