Hypercharge Expands Partnership with Energy Infrastructure Provider for Fleet DC Fast Charging in Western Canada
Rhea-AI Summary
Hypercharge Networks Corp. (TSXV: HC) (OTCQB: HCNWF) has secured an order to supply 18 DC fast charging ports to a Western Canadian energy infrastructure provider for their operational fleet. This expands on a previous partnership announced in December 2023, which included an order for up to 12 public DC fast charging locations in Western Canada. Delivery is expected to begin in Fall 2024, with revenue recognition upon delivery.
Hypercharge's President and CEO, David Bibby, emphasized the company's ability to deliver comprehensive charging solutions that optimize fleet performance and support the transition to fully electrified fleet vehicles. This order demonstrates Hypercharge's growing presence in the EV charging infrastructure market, particularly in the fleet sector.
Positive
- Secured order for 18 DC fast charging ports for fleet use
- Expansion of existing partnership with Western Canadian energy infrastructure provider
- Expected revenue recognition upon delivery of charging stations in Fall 2024
- Demonstrates capability to deliver comprehensive fleet charging solutions
Negative
- None.
News Market Reaction – HCNWF
On the day this news was published, HCNWF declined 2.54%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - August 1, 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 an order to supply 18 DC fast charging ports to a Western Canadian energy infrastructure provider for use by their operational fleet. Delivery of the order is anticipated to commence in Fall 2024 and revenue is to be recognized by the Company upon delivery of charging stations.
This announcement furthers the Company's partnership with the Western Canadian energy infrastructure provider previously announced by the Company on December 5, 2023. This latest order is in addition to the previous order for up to 12 public DC fast charging locations to be deployed across urban and rural areas in Western Canada.
"Hypercharge's fleet solutions are designed to meet the specific and custom needs of businesses across North America, ensuring reliability and efficiency at every stage. With this large-scale energy infrastructure provider, we are demonstrating our capability to deliver comprehensive charging solutions that optimize fleet performance and support the transition to fully electrified fleet vehicles," said David Bibby, President and CEO of Hypercharge.
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. More particularly and without limitation, this news release contains forward-looking statements regarding contractual performance and expected delivery of charging equipment. 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218455
FAQ
How many DC fast charging ports has Hypercharge Networks Corp. (HCNWF) been ordered to supply in their latest deal?
When is the delivery of Hypercharge's (HCNWF) latest order expected to begin?
What was Hypercharge Networks Corp.'s (HCNWF) previous order with the Western Canadian energy infrastructure provider?
When will Hypercharge Networks Corp. (HCNWF) recognize revenue from this new order?
