“The EV CaaS program, in collaboration with SparkFund and GE, offers a pay-as-you go alternative to capital purchases and greatly simplifies the decision-making process."
Los Angeles, CA (PRWEB) September 21, 2015
EV Connect, a leading provider of electric vehicle (EV) charging solutions, including development of the industry’s most innovative cloud-based software platform for managing the EV charging eco-system, today announced the first-ever “EV Charging-as-a-Service” or “EV CaaS,” to cut up-front costs and simplify the process for purchasing and installing EV charging station infrastructure by turning the purchase decision from a capital expenditure to an operating expense.
In collaboration with GE and SparkFund, the EV CaaS program starts at $99 per month per charge station port (not including installation), which includes GE’s full line of WattStation™ and DuraStation™ EV charging stations, and EV Connect’s base management software and service. The new EV CaaS service offers business owners and government entities a full-service resource to assist with financing, deployment and management of EV charging solutions. EV Connect has also launched an online resource for customers at http://www.EVCaaS.com
“The single biggest hesitation facility owners have when considering EV charging station installation is up-front cost,” said Jordan Ramer, EV Connect President. “The EV CaaS program, in collaboration with SparkFund and GE, offers a pay-as-you-go alternative to capital purchases and greatly simplifies the decision-making process.”
EV Connect is the first EV solution provider to offer a turn-key solution from procurement to installation to EV payment management and maintenance as an operating expense without up-front capital investment. The solution is powered by SparkFund financing and EV Connect’s management software. In addition to handling the procurement, installation and permitting, EV Connect will manage all aspects of the charging station ecosystem and service, including driver support, station management and usage.
“Welcome to a new world of financing for EV charging infrastructure,” said Pier LaFarge, SparkFund Co-founder and CEO. “EV CaaS puts EV charging within reach of any facility by shifting financing from an upfront capital expenditure to a pay-over-time operating expense.”
Earlier this year, EV Connect entered into a joint marketing and product agreement with GE to provide customers with GE’s highly reliable charge stations, EV Connect’s robust management platform, and the efficient interoperability between all of the components.
“This new turn-key financing solution will further the effort to provide cost-effective solutions to enable EV charging networks to grow,” said Seth Cutler, Senior Product Manager, Growth Initiatives for GE’s Industrial Solutions business. “The industry is increasingly looking for a simplified, cost-effective and efficient approach to building an EV charging infrastructure, which includes ongoing service for this equipment.”
The North American EV charging market is a growing but underserved industry segment. Navigant Research estimates annual U.S. plug-in EV sales will exceed 1.1 million annually by 2024, up from 133,000 in 2014. IHS estimates over one million chargers were deployed in 2014 and forecasts this will grow to 12.7 million chargers by the end of this decade.
About EV Connect
EV Connect has created the most innovative, robust and feature-rich cloud-based software platform for managing electric vehicle (EV) charging stations, their interaction with utilities and the driver experience. The company leverages this software platform to also be a leading provider of electric vehicle (EV) charging solutions for commercial, enterprise, hospitality, university and government facilities. Established in 2009, EV Connect's customers include Yahoo!, Marriott, Western Digital, 21st Century Fox, Los Angeles Metropolitan Transportation Authority, New York Power Authority, and numerous municipalities. For more information, please visit http://www.evconnect.com.
SparkFund is a financial technology (FinTech) company focused on energy efficiency and clean tech infrastructure financing that has developed flexible financing solutions for $10,000 to $1,000,000 energy savings projects. SparkFund aims to provide greater access to the benefits of energy efficiency for business owners, contractors, and partners. SparkFund partners directly with energy efficiency contractors, manufacturers, and ESCOs to enable the shift from a cash upfront to a “pay over time” sale. By embedding SparkFund’s financing platform into the service offering and sales process, partners see increased deal volume and faster close rates. For more information, call (844) 867-7275 or visit http://www.sparkfund.co.
About GE’s Industrial Solutions Business
Industrial Solutions empowers smarter business operations by connecting equipment, software and services to protect, control and optimize assets within electrical infrastructures. The business provides customers, across various industries, with end-to-end product and service solutions that help ensure the reliability and protection of their electrical infrastructure. Industrial Solutions’ product and service solutions add to GE’s broader portfolio of leading technology solutions for the delivery, management, conversion and optimization of electrical power for customers across multiple energy-intensive industries.
EV Connect: Jordan Ramer, (310) 961-2096, jordan(at)evconnect(dot)com
SparkFund: Angela Ferrante, (310) 658-9779, angela(at)sparkfund(dot)co
GE: Ashley Kusowski, (919) 238-6603, Ashley(dot)kusowski(at)ge(dot)com