EverCharge and American Electric Power Announce New Collaboration

Core Insights - EverCharge has announced a strategic collaboration with Public Service Company of Oklahoma (PSO) to enhance electric vehicle (EV) charging solutions for customers in Oklahoma [1][3] - PSO aims to provide reliable EV charging options to over 575,000 customers, facilitating informed decisions for electrification projects [1][5] - EverCharge's SmartPower technology allows for the installation of up to 10 times more charging stations on existing electrical infrastructure, reducing the need for costly upgrades [2][4] Company Overview - EverCharge specializes in turnkey hardware and software EV charging solutions, focusing on efficient scaling of EV charging at the lowest cost [4] - The company was founded in 2013 and acquired by SK Group in 2022, which operates in various industries including semiconductor and energy [4] - PSO, a unit of American Electric Power (AEP), serves over 575,000 customer accounts and operates a diverse generating capacity of approximately 4,500 megawatts, primarily from wind and natural gas [5][6] Industry Impact - The collaboration between EverCharge and PSO is expected to significantly drive EV adoption across the United States [3] - AEP, the parent company of PSO, is investing $43 billion over the next five years to enhance the electric grid's reliability and sustainability [6]