A recent survey from a team at the University of California, Berkeley and nonprofit Cool the Earth found more than 25% of public charging stations were not functioning. It uncovered a pressing need for both expanding the electric vehicle (EV) charging network and fixing the nonoperational stations to meet the accelerating EV market demand.
A black-owned startup called ChargerHelp!, founded by Los Angeles native Kameale Terry, offers charging repair services in 17 states. Her company is addressing a pressing issue in the growing EV market. It is also contributing to the sustainable transportation revolution, which includes electrification of passenger vehicles and will soon see widespread adoption of EVs in construction and trucking settings.
ChargerHelp! features an innovative reliability-as-a-service (RaaS) model. The subscription service features on-demand repair and assessment. It eliminates the uncertainty of downtime and gives EV charging station operators fast resolution and an uptime rate of 97%, which leads to increased use by customers. An RaaS model provides station operators with predictable operations and maintenance costs so they can better forecast expenses and capital expenditures. They can also better build and protect their brand by offering reliable charging services drivers can rely upon.
By offering comprehensive repair services, the company aims to revitalize existing infrastructure and ensure a smooth charging experience for EV owners who rely on stations for morning commutes or stop-overs for lengthy road trips. Terry and her team partner with utilities such as Southern California Edison and Duke Energy Corp. as well as charging provider Tritium to provide services to 10,000 stations and counting.
To stay updated with top startup news & investments, sign up for Benzinga's Startup Investing & Equity Crowdfunding Newsletter
Part of her company's service is to assess a charging station's current capabilities and weaknesses. It will review the hardware, software and communications apparatus and perform various functional tests. ChargerHelp!'s assessment also involves looking at the usability and accessibility of the site from the driver's perspective. Its team will also review the site's readiness for maintenance, including the location and condition of electrical equipment such as panels and any other related systems.
ChargerHelp! is not only fixing faulty charging stations but also implementing innovative solutions to enhance their functionality. The company's technicians employ smart maintenance strategies to improve the reliability and efficiency of EV charging networks. By increasing the accessibility and usability of EV charging stations, the startup is playing a crucial role in reducing range anxiety and promoting electric vehicle adoption. Its early success attracted considerable investment, including $17.5 million in Series A financing secured in February, 2023.
Another emerging player in the electric vehicle revolution is VOLTEQ. The startup offers electric machinery, including a skid steer that can perform dozens of different jobs in a variety of challenging settings. It creates zero emissions and features a simple integrated charging system. The company is seeking investment through Netcapital, a top crowdfunding platform that gives retail investors access to the most exciting startup opportunities.
See more on startup investing from Benzinga.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article More than 25% Of Public EV Charging Stations Do Not Work: This Reliability-As-A-Service Company Is Fixing The Problem originally appeared on Benzinga.com
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.