Vancouver, BC – September 5, 2024 – Hypercharge Networks Corp. (TSXV: HC; OTC: HCNWF; FSE: PB7) (the “Company” or “Hypercharge”), a leading, smart electric vehicle (EV) charging solutions provider and network operator, is pleased to announce an additional order of 58 DC fast charging ports from a Western Canadian energy infrastructure provider for use by their operational fleet, worth an estimated $3M-$4M, with cost and gross margins anticipated to be in line within the Company’s typical profit range.
Delivery of the order is anticipated to commence in Winter 2024 and revenue is to be recognized by the Company upon delivery of the 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.
The 58 DC fast charging ports to be delivered is in addition to the previous orders of 18 fleet DC fast charging ports announced on August 1, 2024, and up to 12 public DC fast charging locations to be deployed across urban and rural areas in Western Canada, announced on December 5, 2023.
“This expanded order demonstrates the growing demand and confidence our partners have in Hypercharge’s ability to deliver reliable, large-scale charging solutions tailored to fleet needs,” said David Bibby, President and CEO of Hypercharge. “We are proud to support the shift to fully electrified fleets by providing fleet operators and energy companies with the fast-charging infrastructure they need for reliable operation and to achieve their sustainability goals.”
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About Hypercharge
Hypercharge Networks Corp. (TSXV: HC; OTC: 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
Media Contact:
Kyle Kingsnorth | Head of Marketing | Hypercharge
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, expected timing and delivery of charging equipment and revenue recognition. 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.
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