Tuesday 12 July 2022

EVCS raises $68.8m to expand EV fast charging zero-carbon network

Electric vehicle (EV) fast charging network operator EVCS has announced it has raised $68.8 million (£51.2m) to support its expansion in the US.

The capital raised will support the company's expansion into more than 35 new cities across California and Washington as well as increase charger density in its existing communities.

EVCS set a goal to more than double its network footprint to nearly 1,500 chargers by 2023.

The company, founded in 2018, reduces its carbon footprint by using 100% renewable energy to power its network.

Gustavo Occhiuzzo, CEO and Co-Founder of EVCS said: “With over 600 chargers in California, Oregon and Washington, we've grown to become one of the largest EV fast-charging networks in the US.

“With this new round of funding, we're thrilled to increase EV driver access to our unlimited charging subscription product by more than doubling our charger footprint over the next 18 months.”