November 16, 2022 – Vancouver, British Columbia – Hypercharge Networks Corp. (NEO: HC) (the “Company” or “Hypercharge”), a leading, smart electric vehicle (EV) charging solutions provider, is pleased to provide the following corporate update in conjunction with the Company’s listing on the NEO Exchange this morning.
Since Hypercharge launched its EV charging solutions in April of this year, it has already sold over 600 new charging ports at 102 sites across North America and built a pipeline of projects worth north of $9 million in potential opportunities. The Company’s next steps are to continue to expand its foothold across Canada, while working closely with partners to continue its expansion into the U.S. market.
“There is a clear and growing trend towards the broad adoption of EVs in both the consumer and commercial auto markets,” said David Bibby, CEO and Co-Founder of Hypercharge. “Developing the infrastructure to support this growth is crucial for the success of widespread EV adoption. We are delivering this and taking it one step further, by offering smart EV technology that can support the success of a range of customers including multi-unit residential, commercial retail and fleet operators.”
Hypercharge offers a unique turnkey combination of industry leading hardware, software, and services, sold directly and through a growing partner channel of installers and service providers. Hypercharge provides its customers with simple, reliable EV charging solutions that grow their revenue and accelerate the shift towards a carbon neutral economy.
“Today’s listing on the NEO Exchange is an exciting milestone for the Company,” added Bibby. “We are the first Canadian-founded EV charging company to go public, and we are excited to invite investors to participate in the growth of Hypercharge and the growth of the carbon neutral economy in Canada, the U.S. and beyond.”
A 2022 Bloomberg NEF report estimates that EV adoption is forecasted to reach 52% in the U.S by 2030, and Natural Resources Canada estimated in a 2022 report that EV adoption is expected to reach 60% in Canada that same year, up from 8% where it currently sits. This is being driven by a variety of factors, including increased government funding and evolving consumer tastes. Fortune Business Insights projects that the global electric vehicle charging stations market size is expected to grow from US$17.59 billion in 2021 to US$111.90 billion by 2028.
Hypercharge is also pleased to announce that it has entered into an agreement with Oil and Gas Investments Bulletin (OGIB) (Corporate Bulletin dated Nov 16, 2022), for the provision of various corporate communications services for a 12-month term. Pursuant to the agreement, the Company will pay to the service provider $175,000 in cash over the term. The Company and the service provider act at arm’s length. The service provider is a Canadian editor and publisher that produces informational content targeted to retail investors, which is published on two websites.
Hypercharge Networks Corp. (NEO: HC) is a leading provider of smart electric vehicle (EV) charging solutions to multi-unit residential, commercial, retail, and fleet operators. 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: the Company’s next steps to expand its foothold in Canada and continue its expansion into the U.S. market; the Company’s expectations re: adoption of EVs in auto markets; the development of infrastructure being crucial for the success of widespread EV adoption; future investor participation in the growth of Hypercharge and the carbon neutral economy at large; expectations re: EV adoption and the causes of same; and expectations re: the global electric vehicle charging stations market. 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.