Shorepower Awarded Two New Project in California

Core Insights - Shorepower has been awarded two new projects in California, totaling over $100,000, to install 16 new Level 2 connection points, enhancing its commercial charging network to approximately 1,800 connection points, positioning the company as a leader in the sector [1][3]. Group 1: New Developments - The company has introduced a new "medium speed" DC Fast Charger (DCFC) that operates between 20kW and 40kW, which is 2 to 4 times faster than typical Level 2 chargers [2]. - These new DCFCs can utilize existing 208VAC 3-phase input, reducing the need for costly power service upgrades to 480VAC, making them suitable for smaller commercial vehicles [2]. Group 2: Future Prospects - The company anticipates announcing additional contract awards due to its proposal writing efforts, as the demand for charging stations is expected to grow exponentially with the increasing number of electric vehicles (EVs) on the roads [3]. - The CEO emphasized the importance of expanding the charging network and product diversity to capitalize on new opportunities and serve a growing customer base [3]. Group 3: Company Overview - Shorepower is focused on transportation electrification, operating the largest heavy-duty electrified parking network in North America, which includes 60 facilities with approximately 1,800 electrified parking spaces [6]. - The network primarily supports truck stop electrification and electric standby transport refrigeration units, with plans to expand electric vehicle charging stations [6].