Lots of Growth Ahead in the Market Some of the fastest-growing industries are surrounding the EV industry as more consumers make the transition. This has created a substantial deficit in the EV to chargers ratio, especially in Canada. And with the government continuing to push EV goals and invest millions into charging infrastructure, there’s a huge market opportunity in both public and private charging infrastructure as EVs continue to take market share away from ICE vehicles. Even with the EV charging footprint growing by 30% over 2022, there are still only around 20,000 public chargers available for use, which is nowhere near enough if the government is planning for 100% of new car sales to be electric by 2035.
https://electricautonomy.ca/2023/03/14/2023-canada-ev-charging-networks-report/
$HC.N is aiming to help build out the future of EV infrastructure in Canada as they’ve secured deals all over the country with numerous developers, publicly funded organizations, and companies alike.
- Implemented over 1,400 chargers helping revenue surpass $1M for the first time.
- Secured deals with companies like Tricon and Cressey to help build a significant number of chargers at their developments.
- Signed a roaming agreement with Electric Circuit, which will allow for $HC.N members to have access to Electric Circuit’s 4,000+ charging fleet and vice versa.
Overall, with all of these company developments, in addition to the industry having a significant amount of growth/expected growth, the current $24M valuation isn’t something you should ignore.