Vancouver, British Columbia and Edmonton, Alberta – January 12, 2023 – Hypercharge Networks Corp. (NEO: HC; FSE: PB7) (the “Company” or “Hypercharge”), a leading, smart electric vehicle (EV) charging solutions provider, is pleased to announce it has been selected to provide 20 Level 2 EV charging stations to Inferno Solar locations throughout Western Canada.
Inferno Solar, an Edmonton-based EV and solar charging solutions provider, was founded in 2019 and has to date installed more than 10,000 solar panels, providing more than 4,700 MWh of power annually.
“Inferno Solar is a company that truly lives and breathes its values around reducing carbon emissions and bringing sustainable solutions to the market,” said Chris Koch, Head of Growth & Partnerships at Hypercharge. “Our alignment with other Canadian-founded, sustainability-focused businesses, such as Inferno Solar, further strengthens our goal towards a carbon-neutral economy that enriches the market with clean, forward-thinking technology to power our future.”
Inferno Solar worked closely with Hypercharge to leverage the Government of Canada’s Zero Emission Vehicle Infrastructure Program (ZEVIP) which covers up to 50% of total project costs.
Appointment of New Chief Financial Officer
The Company is also pleased to announce the appointment of Navraj Dosanjh as the Company’s full-time Chief Financial Officer. In connection with the appointment of Mr. Dosanjh, the Company has approved a grant of 200,000 incentive stock options (the “Options”) and 100,000 restricted share units (“RSUs”) pursuant to the Company’s Equity Incentive Plan. The Options are exercisable at a price of $0.50 per share for a 3-year term and the RSUs are to vest over a period of 2 years.
“We are thrilled to welcome Nav as our new full-time CFO and member of the executive team. His expertise and experience will be invaluable as we continue to grow and scale the business,” said David Bibby, CEO of Hypercharge. “I would also like to take this opportunity to thank our outgoing CFO, Kara James, for her professional and exemplary service to the Company and we wish her all the best in her future endeavors.”
Hypercharge Networks Corp. (NEO: HC) is a leading provider of smart electric vehicle (EV) charging solutions that offers turnkey technology to multi-unit 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 providing seamless, simple charging solutions by offering industry-leading equipment and a robust network of public and private charging stations. Learn more: https://hypercharge.com/
On behalf of the Board,
Hypercharge Networks Corp.
David Bibby, President & CEO
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”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning Hypercharge’s installation of 20 Level 2 EV charging ports at Inferno Solar locations, and the exercise of the Options and the vesting of the RSUs. 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 the respective 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.