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
23
Feb
/
23
30
June
/
23
Electric Car Charging
Electric Vehicles

Installation of the Month (February 2023): City of Los Angeles Lot 715

As our network continues to expand, we’ve consistently maintained three key focuses: 1) Accessibility; 2) Affordability; and 3) Sustainability. These attributes are the cornerstone of everything we do, and our newest installation near the heavily trafficked intersection of West Pico Boulevard and Overland Avenue in Rancho Park helps us accomplish all of them.

READ MORE
31
Jan
/
23
30
June
/
23
Electric Car Charging
Electric Vehicles

Electric vs Gas: An Apple to Apples Comparison

The first quarter of 2022 saw a 60% increase in American EV registrations, according to Car and Driver, thanks in large part to a boost in model offerings, expanded infrastructure and an aggressive push by industry stakeholders aimed at educating the public. Yet EVs make up less than 5% of the total vehicles on US roads, with many consumers still reticent to take the leap.‍ However, the fact that many states plan to ban the sale of new gasoline-powered, or internal combustion engine (ICE) vehicles in the next 10 to 20 years means these same consumers are having to take a long hard look at their electric biases to determine how EVs truly compare. In that vein, we decided to do our own comparison, laying out the pros and cons, and some of the findings may surprise naysayers.

READ MORE
24
Jan
/
23
11
September
/
23
Press
Electric Car Charging

EVCS Selected by Washington State Department of Transportation to Help Support The Adoption of Fast, Reliable Public EV Charging

LOS ANGELES – January 24, 2023 -- EV Charging Solutions (EVCS), one of the largest electric vehicle (EV) fast-charging network operators on the West Coast, today celebrates the award of $8.1M to build and retrofit 21 EV Fast Charging locations in Washington state. Awarded by the Washington State Department of Transportation's (WSDOT) Zero-Emission Vehicle Infrastructure Partnerships (ZEVIP) to Forth and Energy Northwest, these partnerships will support EVCS’s installation of 76 new and upgraded EV chargers along priority corridors in Washington.

READ MORE
6
Jan
/
23
30
June
/
23
Press

EVCS Partners with Hubject to Expand and Simplify Access to Public Charging for Electric Vehicle Drivers on the West Coast

LOS ANGELES January 6, 2023 - Hubject, provider of the world’s largest eRoaming network, and EVCS, one of the largest electric vehicle (EV) fast-charging network operators on the US West Coast, are pleased to announce the official signing of a Memorandum of Understanding, signaling their intention to enter into a new strategic partnership. EVCS plans to work with Hubject as a preferred, non-exclusive roaming partner, relying on Hubject’s Intercharge platform to offer roaming services. EVCS will be one of the first Charge Point Operators (CPOs) in the United States to open its network to a broad range of EV drivers using a variety of e-mobility service providers (eMSPs). EV drivers will have greater freedom to use web-based or mobile apps of their choice to discover, locate, charge, and pay on the EVCS network.

READ MORE
20
Dec
/
22
30
June
/
23
Electric Vehicles
Electric Car Charging

8 Reasons Charging Speeds May Differ

As one of the country’s premier installers of EV infrastructure, we’re often asked by clients why vehicle charging speeds tend to differ so dramatically. The answer is… there is no one answer. In fact, reasons can be diverse and complex. Below, we summarize several factors that may be affecting your charging speeds. The more you understand about these factors, the better prepared you’ll be to maximize your rate of charging while protecting your vehicle’s longevity.

READ MORE