Hypercharge Completes Delivery of 778 Charging Stations to King George Hub Development in Surrey, BC
Rhea-AI Summary
Hypercharge Networks has completed the delivery of 778 EV charging stations to PCI Developments' King George Hub development in Surrey, BC. The delivery included 777 Level 2 charging stations and 1 dual-port DC fast charging station, executed across three fiscal quarters. The installations were split with 200 stations in Q1 2024, 400 in Q2, and 178 in Q3. The King George Hub is a mixed-use development featuring over 760,000 square feet of office and retail space, plus approximately 1.2 million square feet of residential space, located at the junction of three rapid transit lines.
Positive
- Successful delivery completion of 778 charging stations
- Large-scale project implementation at a major mixed-use development
- Additional order secured in July 2023 for 30 more charging stations
Negative
- None.
News Market Reaction – HCNWF
In the trading session that priced this news, HCNWF declined 1.66%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2024) - Hypercharge Networks Corp. (TSXV: HC) (OTCQB: HCNWF) (FSE: PB7) (the "Company" or "Hypercharge"), a leading, smart electric vehicle (EV) charging solutions provider and network operator, is pleased to announce it has completed delivery from its sales backlog and recognized as revenue an additional 577 Level 2 charging stations and 1 dual-port DC fast charging station for PCI Developments' King George Hub development in Surrey, BC.
Final delivery of Hypercharge EV charging stations being prepared for transport to the King George Hub development in Surrey, BC
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In fiscal Q1 2024, 200 Level 2 charging stations were delivered to the King George Hub development. An additional 400 Level 2 charging stations were delivered during fiscal Q2, and the remaining 177 Level 2 charging stations and 1 dual-port DC fast charging station were delivered in fiscal Q3, bringing the total to 778 charging stations delivered.
King George Hub is a landmark mixed-use development that will provide over 760,000 square feet of office and retail space in multiple phases, as well as approximately 1.2 million square feet of residential space situated at the junction of up to three rapid transit lines.
"Completing the delivery of all 778 charging stations to King George Hub marks a significant milestone for both Hypercharge and for sustainable urban development as a whole," said Chris Koch, Head of Growth & Partnerships at Hypercharge. "This project exemplifies how collaboration between forward-thinking developers and innovative technology providers can create communities that are ready for the future of transportation. We're proud to have played a role in making King George Hub one of the most EV-ready destinations in the region."
Hypercharge was selected in March 2023 by PCI Developments to provide 748 Level 2 charging stations, one for every residential parking space at King George Hub. In July 2023, the Company was selected to provide an additional 29 Level 2 charging stations and 1 dual-port DC fast charging station for use by visitors to commercial tenants.
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About Hypercharge
Hypercharge Networks Corp. (TSXV: HC) (OTCQB: HCNWF) (FSE: PB7) is a leading provider of smart electric vehicle (EV) charging solutions for residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift towards a carbon neutral economy, Hypercharge is committed to offering seamless, simple solutions including industry-leading hardware, innovative and integrated software, and comprehensive services, backed by a robust network of public and private charging stations. Learn more: https://hypercharge.com/.
On behalf of the Company,
Hypercharge Networks Corp.
David Bibby, President & CEO
Contacts
Investor Relations:
Chris Tyson | Executive Vice President | MZ Group
invest@hypercharge.com | (949) 491-8235
Media Contact:
Kyle Kingsnorth | Head of Marketing | Hypercharge
kyle.kingsnorth@hypercharge.com
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "could", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228020