Member Spotlight: HEVOWednesday, January 18th 2023
Tell us about HEVO in 3 sentences or less.
HEVO’s mission is to eliminate global reliance on fossil fuels by optimizing electric vehicles (EVs) with a safe, simple and seamless charging experience. We develop wireless and hybrid plug-in and wireless charging hardware and software at our headquarters in Brooklyn, NY, with early commercial projects with customers on four continents. HEVO is actively raising capital to enable the expansion of our team and production capacity.
What is your role in the energy transition and how are you unique in the sector?
We believe that existing charging infrastructure, specifically cords, hinders EV adoption for a significant portion of the global market. HEVO’s wireless charging hardware and accompanying software is designed to make the charging experience safe, simple and seamless. By doing so, we believe we can significantly accelerate EV adoption, particularly for customers focused on logistics, transit, and accessibility solutions. HEVO differentiates itself from other electric vehicle supply equipment (EVSE) companies on the basis of our award-winning product, unmatched performance and viable price.
What are the macro trends currently affecting you?
Global spending on EVs and EVSE neared $300 billion in 2022, with local and national governments around the world setting ambitious EV sales and charging targets that hinge on rapid EV adoption. However, there is real concern from the public and private stakeholders that we talk with every day about when and how to deploy the solutions required on the vehicle and ground sides of the equation (chicken and the egg dilemma). HEVO sits in a unique position among these stakeholders, with a hardware and software solution that addresses the end-to-end charging experience on the vehicle and ground sides of the equation. We are working hard to integrate our wireless charging technology with automakers like Lightning eMotors, create seamless installation and customer service processes for wireless charging with partners like Vehya, and other exciting projects in 2023 to establish wireless charging as the future standard.
What are your most recent updates and what does 2023 have in store for you?
2022 was a banner year for HEVO! Highlights include raising over $3.3 million in capital from over 3,000 investors, securing a $1.5 million contract for the largest wireless charging project in history (in NYC!), launching integration projects with major EV automakers, expanding our team in Brooklyn with five key hires, and being recognized by several industry and media organizations for our innovative technology. We are raising additional capital in Q1 2023 to enable a major commercial, operational, and financial transformation of the company, including shipping over 100 Level 2 chargers, expanding to a 25-50K square foot production facility, and reaching positive gross profit on our chargers.
Why did you decide to join Dynamo? What aspect of your membership are you happiest with?
HEVO joined Dynamo for the opportunity to collaborate with a global network of people focused on addressing climate change. We understand we cannot accelerate EV adoption alone; we must collaborate with fleets, automakers, installers, utilities, governments, and many other partners to turn our vision for universal and ubiquitous wireless charging into a reality.
For media relations contactClaudia Prandoni Marketing & Communications Manager