Continued Charging Contracts and New CFO Appointed Charging in Canada is still lacking far behind if we want our renewable/EV transition goals to be hit by the government's planned timeline. I recently went to a dealership to get my car serviced and asked about the company’s new EV, and the salesman instantly said don’t get it because of the lack of chargers in Canada. Meaning there’s a lot of market potential to expand the charging network, and the players that are in the space early are set to greatly benefit on top of potentially creating a natural monopoly over the charging space. More recently, Hypercharge was just selected by Inferno Solar to deploy chargers across Canada and announced the appointment of a new CFO.
- They will provide 20 Level 2 EV charging stations to Inferno Solar locations throughout Western Canada.
- They’ll also utilize Canada's Zero Emission Vehicle Infrastructure Program, which covers up to 50% of total project costs, helping improve margins.
- Navraj Dosanjh will be the new CFO, and he’ll be a great help due to his industry experience and expertise.
https://ca.finance.yahoo.com/news/hypercharge-announces-inferno-solar-ev-133000737.html
When considering the current $28M valuation and the government support/number of contracts they’re securing, there’s a lot of upside left for the company as they continue to scale operations. Definitely keep an eye out for these guys as they continue to secure deals and expand charging networks across Canada.