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.

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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.

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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.

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Media Contact:

Jennifer Rodriguez

Firecracker PR

jennifer@firecrackerpr.com

(888) 317-4687 ext. 702

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EVCS Financing Inquiries:

Jett Capital Advisors – Investment Banking Division

(212) 616-0430

ib@jettcapital.com

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Navigating California’s New EV Mandate

California’s going all in on electric. On August 25th, Governor Gavin Newsom made a very important announcement concerning the future of transportation in the Golden State: “We can solve this climate crisis if we focus on the big, bold steps necessary to cut pollution. California now has a groundbreaking, world-leading plan to achieve 100 percent zero-emission vehicle sales by 2035.” Big and bold, indeed. And while highly encouraging, it brings up a number of questions moving forward.

How EVCS is Repairing Reliability Concerns

One of the biggest concerns among EV drivers today is the reliability of public chargers. One recent survey from the Department of Bioengineering at UC Berkeley claims as many as 23% of public chargers in the Bay Area alone are, as Wired sums up, “nonfunctioning at any given time, stymied by broken screens, shoddy credit card or payment systems, network connection failures, or damaged plugs.” And that’s in a locale prioritizing the conversion to electric. Testimony from motorists seems to corroborate these findings. A CEC survey of 1,290 EV drivers found that fully 60% had experienced damaged or inoperable chargers, while almost half needed assistance from customer service. We find this wholly unacceptable and have taken measures to ensure that chargers in the EVCS network rise to the standard of operability our customers expect. Here are a few ways we’re doing that:

Tritium and EVCS to Deploy Additional 300 New Electric Vehicle Fast Chargers in California, Oregon, and Washington

[TORRANCE, Calif., July 28, 2022] — Tritium DCFC Limited (“Tritium” or the “Company”) (Nasdaq: DCFC), a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”), is partnering with EVCS, one of the largest EV fast-charging network operators on the West Coast, to deploy 300 new chargers across California, Oregon, and Washington. The order consists of 300 50kW Tritium RTM fast chargers, making the total Tritium DC fast charger contribution to the EVCS network over 800. With more states expected to follow California’s legislation mandating 100 percent of new vehicles sold generate zero emissions by 2035, partnerships like this are critical to ensuring public fast charging can meet the increased demand driven by the expected mass consumer adoption of EVs in the coming years.

Installation of the Month (July 2022): Kenwood Inn & Spa

A key focus for us over the last several years has been the installation of additional chargers at holiday hot spots, tourist destinations, and other key points of interest. Not only will it help dispel long-range travel anxiety among many new EV drivers, but it will also lead to a significant reduction in carbon emissions otherwise generated by gas-guzzlers during peak vacation seasons. Moreover, our egalitarian approach to site selection means we’re just as likely to install a charger at a McDonald’s as we are at a Morton’s since we understand the value in catering to a broad clientele. However, higher net worth individuals continue to drive EV sales in the US (a June 2021 Fuels Institute study specifies middle-aged males with household incomes over $100,000), so catering to venues that offer a luxury experience will encourage even greater participation by this group while serving as a bellwether for lower-income drivers who are attracted to the idea of electric mobility as a symbol of status.

Mexico to Canada EV Road Trip: EVCS Interview

We sat down with EV owner and enthusiast Anthony Williams, a 60-year-old business owner from San Diego, who recently commemorated the 10-year anniversary of his first trans-American road trip in an EV by retracing the same route to see what had changed in the world of EV fast charging, for better or for worse. Below are some of his insights and feedback.