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Shorepower Technologies (SPEV), trading on the OTC market under the symbol SPEV, is described as a transportation electrification company. The company focuses on building, deploying and operating plug-in stations that allow electric vehicles, trucks and refrigerated trailers to access electric power while parked or staged. By replacing petroleum fuel use with electric power at these locations, Shorepower aims to provide cost savings for fleets and drivers while significantly reducing toxic emissions and greenhouse gases.

According to company descriptions in recent announcements, Shorepower operates what it calls the largest heavy-duty focused network of electrified parking spaces in North America. This network includes about 60 facilities located at travel centers, with approximately 1,800 electrified parking spaces and connection points. Many of these facilities are focused on truck stop electrification (TSE) and electric standby transport refrigeration units (eTRU), and several sites also include electric vehicle charging stations that the company plans to continue expanding.

Business focus and network

Shorepower’s core business centers on commercial electrification services for transportation. Its plug-in stations are designed for use by heavy-duty trucks, refrigerated trailers and other vehicles that can connect to grid power while parked. This approach is intended to offset idling and fuel consumption, providing direct operating cost benefits and environmental benefits through reduced emissions.

The company highlights an interstate-oriented strategy, working with travel centers, rest stop operators and other host-site partners to place charging and electrified parking infrastructure where urban charging options may be limited. Recent communications emphasize that each new project and grant-funded installation adds to the overall value and scale of the network by increasing the number of available connection points.

Products and technology initiatives

In addition to its established electrified parking and Level 2 charging infrastructure, Shorepower has described several product and technology initiatives. The company has announced the development and rollout of a new “medium speed” DC Fast Charger (DCFC). These chargers are described as operating in the 20 kW to 40 kW range, with charging speeds that are multiple times faster than typical Level 2 charging for many electric vehicles. Some of these DCFC units are described as being capable of operating from existing 208 VAC three-phase input, which the company states can reduce the need for power service upgrades to higher-voltage service.

Shorepower has indicated that these medium-speed DC fast chargers are well suited to smaller commercial vehicles such as box trucks, electric buses and higher-capacity pickup trucks used in work and business operations. The company has also referenced a DC fast charging concept that combines mobile battery energy storage with repurposed or recycled EV batteries, internally referred to as DCFC-BEST (DC Fast Charger – Battery Energy Storage Transportable technology). This concept is intended to use EV batteries that are no longer suitable for vehicle use but remain viable for stationary energy storage, with the goal of providing more affordable and equitable access to DC fast charging.

Grants, contracts and project awards

Shorepower has reported multiple grant awards and project wins from state programs and from the U.S. Department of Energy. The company has highlighted grant-supported projects in Washington, New Hampshire and California, with total project values described in its announcements as aggregating to amounts in excess of certain thresholds when including cost-share and host-site contributions. These awards typically involve the installation of new Level 2 charging stations and additional connection points at specific locations.

In one example, the company reported winning two state grants in Washington for facilities in George and Union Gap, with plans to install Level 2 charging stations and add new connection points. In another announcement, Shorepower described being awarded projects in California to install multiple new Level 2 connection points in Boron and Norwalk. The company links these wins to its internal grant writing capabilities and notes that each new project increases the number of connection points on its network.

Shorepower has also announced that it is among the winning teams in a U.S. Department of Energy prize challenge phase related to circular economy and recycling concepts, which supports the early development of its DCFC-BEST technology. The company states that this award allows it to begin development of a DC fast charger that incorporates mobile battery energy storage using repurposed EV batteries.

Acquisitions and growth strategy

Alongside organic growth through new site development and grant-funded projects, Shorepower has described an interest in acquisitions as part of its expansion strategy. The company has announced an agreement to acquire three truck stop electrification locations from IdleAir, located in Texas, representing nearly 100 additional connection points. Shorepower characterizes this transaction as its first acquisition and notes that these locations already generate revenue.

In its communications, the company has stated that it expects acquisitions to complement its existing geographic footprint, which it characterizes as being largely on the West Coast and in the Northeast, while the acquired IdleAir locations are described as being mostly in Southern states. Shorepower has also indicated that it will continue to evaluate other potential asset acquisitions as part of its effort to expand its commercial electrification services network.

Environmental and community focus

Shorepower’s descriptions emphasize environmental benefits and community access. By enabling trucks, refrigerated trailers and electric vehicles to use grid or stored electric power instead of idling engines or other fuel-based systems, the company states that it can reduce petroleum fuel consumption and associated emissions. This is framed as a way to reduce toxic pollutants and greenhouse gases.

In relation to its DCFC-BEST initiative and other projects, Shorepower has referenced goals of providing more affordable and equitable access to EV charging, including in disadvantaged communities and remote or off-grid locations. The company has described potential use cases where modular battery-based charging stations could be deployed with solar power and limited or no grid connection, and has mentioned working with local communities and college students on development efforts.

Position within transportation electrification

Within the broader transportation electrification space, Shorepower presents itself as focused on heavy-duty and commercial applications as well as EV charging. Its network of electrified parking spaces, truck stop electrification and eTRU connections is described as heavy-duty focused, and the company’s public statements refer to its role in commercial electrification services and interstate corridor infrastructure.

Shorepower’s communications also reference an interstate strategy, in which charging and electrified parking infrastructure are targeted to areas where urban charging infrastructure may be limited. The company notes ongoing efforts to build relationships with travel centers, rest stops and host-site operators to expand its network of facilities and connection points.

FAQs about Shorepower Technologies (SPEV)

• What does Shorepower Technologies do?
  Shorepower Technologies describes itself as a transportation electrification company that builds, deploys and operates plug-in stations for electric vehicles, trucks and refrigerated trailers. These stations provide electric power while vehicles are parked or staged, reducing fuel use and emissions.
• How does Shorepower’s network work?
  According to the company, Shorepower operates a network of electrified parking spaces and charging stations at travel centers and similar facilities. Vehicles connect to these stations to draw electric power instead of idling engines or running fuel-based systems.
• What types of vehicles can use Shorepower’s infrastructure?
  Company descriptions mention electric vehicles, heavy-duty trucks and refrigerated trailers using truck stop electrification and electric standby transport refrigeration units. Shorepower also notes that its medium-speed DC fast chargers are suited to smaller commercial vehicles such as box trucks, electric buses and higher-capacity pickup trucks.
• Where are Shorepower’s facilities located?
  Shorepower states that it operates approximately 60 facilities at travel centers across North America, with a heavy-duty focused network of about 1,800 electrified parking spaces. It has also referenced a footprint that includes the West Coast and Northeast, and additional acquired locations in Texas.
• How large is Shorepower’s connection point network?
  In its announcements, Shorepower reports a commercial charging and electrified parking network with approximately 1,800 connection points, and notes that this figure has grown with new projects and acquisitions.
• What is Shorepower’s medium-speed DC Fast Charger?
  Shorepower has introduced a medium-speed DC fast charger with power levels described between 20 kW and 40 kW. The company states that these chargers can deliver charging speeds multiple times faster than typical Level 2 charging for many EVs and that some units can operate from existing 208 VAC three-phase power.
• What is DCFC-BEST?
  DCFC-BEST is an internal name used by Shorepower for a DC fast charger concept that incorporates battery energy storage using repurposed or recycled EV batteries. The company has received a U.S. Department of Energy prize phase award to begin developing this technology.
• How does Shorepower obtain funding for new projects?
  Shorepower highlights its grant writing capabilities and has reported multiple state grants and a federal prize award. These grants support the installation of new Level 2 charging stations, connection points and the development of DC fast charging technologies.
• Has Shorepower grown through acquisitions?
  Yes. The company has announced an agreement to acquire three truck stop electrification locations from IdleAir in Texas, adding nearly 100 connection points to its network. Shorepower has indicated that it may consider additional acquisitions in the future.
• How does Shorepower address environmental concerns?
  Shorepower states that its plug-in stations and electrified parking spaces reduce petroleum fuel consumption by allowing vehicles to use electric power instead of idling. This is described as significantly reducing toxic emissions and greenhouse gases associated with transportation.