EVCS Secures Credit Facility with Macquarie Group (Newswire)

< Back
April 15, 2021
June 30, 2023
9:30 pm
2:35 pm
Press
Electric Car Charging

EVCS Secures Credit Facility with Macquarie Group (Newswire)

We recently employed PR firm Firecracker to help us get the word out about all of the wonderful things EVCS is doing to make an all-electric future a reality. One major step toward this goal was our securing a credit facility that would allow for accelerated expansion of EV infrastructure, giving us confidence that the financial support required would be available when we needed it. Our PR team then went to work, drafting the following press release that outlines the particulars of this momentous achievement:

ARCADIA, Calif., April 15, 2021 (Newswire.com)

EVCS, one of the largest electric vehicle (EV) fast-charging network operators on the U.S. West Coast, today announced that it has closed a credit facility with the Commodity and Global Markets group of Macquarie Group. The credit facility will enable EVCS to deliver on the installation of a significant pipeline of Direct Current Fast-Charging (DCFC) stations, adding to its existing large-scale DCFC network.

Since its founding in 2018, EVCS has built one of the largest EV charging station networks in the state of California. EVCS offers no-cost, turnkey charging station solutions to a diverse set of customers ranging from healthcare and hospitality to local governments and multifamily real estate owners. By partnering with EVCS, commercial site partners benefit from the company’s revenue-sharing program and experience increased foot traffic by providing a convenient amenity to a fast-growing market segment while receiving improved visibility through the EVCS mobile app.

“We are thrilled to partner with Macquarie in this next phase of EVCS’s growth and expansion,” said Ian Vishnevsky, co-founder of EVCS. “We have an aggressive growth strategy and sought to engage a global leader in infrastructure financing to enable us to deploy one of the largest fast-charging networks in the U.S. We are proud of the growth that EVCS has experienced and, with the additional financing, we will expand our commercial sites on the West Coast and, eventually, throughout the U.S.”

Vanessa Lenthall, Executive Director in Macquarie’s Commodities and Global Markets group, said, “We are excited to support EVCS in their mission of building a leading EV charging station network across the U.S. The support provided through this credit facility is consistent with our long‑standing commitment to, and expertise in, both the energy infrastructure and clean energy sectors.”

The credit facility will enable EVCS to install its fast-charging stations at more than 500 commercial sites throughout California, Oregon and Washington. EVCS expanded into Oregon and Washington in Q2 2020 with the acquisition of the West Coast Electric Highway Network and plans to upgrade the network in 2021.

Given significant, additional growth opportunities, EVCS is also considering potential equity financing opportunities. Investors and interested parties can contact the Investment Banking Division of Jett Capital Advisors below.

Commercial sites interested in exploring the opportunity to have fast-charging stations installed at no cost should visit EVCS turnkey solutions to learn more.

Jett Capital Advisors served as financial advisor to EVCS in the transaction.

About EVCS

EVCS was founded in 2018 by e-mobility entrepreneur and Green Commuter founder Gustavo Occhiuzzo and Ian Vishnevsky to provide California businesses with charging station solutions. EVCS disrupted the charging station sector by employing a complete turnkey approach that utilizes both public and private grants, rebates, and other financial incentives to encourage businesses to install fast-charging stations. EVCS has secured over $50 million in public funding and engaged over 500 partner sites which will host over 1,000 fast-charging stations. Visit EVCS for more information here: www.evcs.com.

About Macquarie

Macquarie Group (Macquarie) is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 16,356 people and has assets under management of more than $398.4 billion (as of Sept. 30, 2020). Macquarie’s Commodities and Global Markets group was recently awarded a number of prestigious awards at the Energy Risk Awards, including 2020 Environmental Products Bank of the Year, 2020 Oil & Products and Derivatives House of the Year and the 2019 Natural Gas/LNG House of the Year. Macquarie is active in carbon markets globally and continues to innovate in the delivery of environmental commodities products and markets. For more information, visit www.macquarie.com.

Media Contact:

Jennifer Rodriguez

Firecracker PR

jennifer@firecrackerpr.com

(888) 317-4687 ext. 702

EVCS Financing Inquiries:

Jett Capital Advisors – Investment Banking Division

(212) 616-0430

ib@jettcapital.com

Back
18
May
/
21
30
June
/
23
Electric Car Charging

Installation of the Month (May 2021): LADOT Lot 656

The Los Angeles Department of Transportation (LADOT) notes on its website that ICE vehicles are one of the city’s top contributors to air pollution, accounting for 19% of all greenhouse gas emissions, before proclaiming, “We can do better… We’re investing in public transit, testing new technology, and adopting mobility innovations for a cleaner environment and brighter future.” At first, it might just sound like flowery rhetoric, but we can personally attest to that commitment. Starting in 2019, LADOT partnered with us to install DCFCs at 57 city-owned lots, with almost 30% of those installations now completed. This alliance has been integral in promoting our goal of zero-emission mobility in the City of Angels by facilitating greater access to infrastructure.

READ MORE
16
May
/
21
30
June
/
23
Electric Car Charging

Addressing Pain Points in Creating EV Infrastructure

A recent GovTech.com article titled “How Biden Plans to Build 500 EV Charging Stations” discusses the President’s goals for creating a nationwide network of 500,000 such installations by 2030. While it does a smart job laying out many of the pain points we face in facilitating EV adoption, the mention of solutions was far less prevalent, and ones that were mentioned seemed speculative or tenuous. However, over the last three years, EVCS has already taken the lead in addressing many of these challenge areas, allowing us to dominate the installation market across the West Coast.

READ MORE
13
May
/
21
30
June
/
23
News
Electric Car Charging

Spectrum News: SoCal Company Looks to Meet Growing Need for EV Charging Stations

Recently, our CEO and co-founder, Gustavo Occhiuzzo, was featured in a Spectrum News 1 segment titled “Inside the Issues” with Alex Cohen. He was able to not only convey the challenges we face as we work toward a more electric future, but also the strides EVCS has already made in addressing those challenges as well as some of our most significant achievements. Examples include our deal with LADOT to install DC fast chargers at 57 city-owned lots, our doubling of non-Tesla chargers in LA since last year alone, and the fact that EVCS has become one of the largest and fastest growing installers of EV charging stations on the West Coast in less than three years. See the interview clip and accompanying article below to learn more.

READ MORE
3
May
/
21
30
June
/
23
Electric Car Charging

Recap of “Today, Explained” Podcast: It’s Electric!

Recently, we listened to Vox’s Umair Irfan discuss on his Today, Explained podcast how Norway has been trailblazing in the world of electric mobility and what strides the US can make to follow suit. We not only found the episode a fascinating exploration of how our Scandinavian friends serve as both innovators and motivators, but it elucidated ways in which EVCS can and has been working toward similar goals within the US. Below are some of the key takeaways from the podcast as well as how it relates to what we’re doing here and now.

READ MORE
29
Apr
/
21
30
June
/
23
Press
Electric Car Charging

EVCS Fast Charging Network to Use 100% Renewable Energy (Newsire)

One of the most common criticisms foisted on the electric mobility industry is that EVs are not technically carbon neutral since the electricity needed to power them is generated through fossil fuels, including coal and natural gas. This argument is not without merit and presents those of us in the EV infrastructure sector with yet another lofty goal – true carbon neutrality through electrical grids powered by renewable energy sources like wind and solar. And our most recent press release discusses how we at EVCS are doing just that.

READ MORE