03:21:28 EDT Fri 29 Mar 2024
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Hypercharge Networks Corp
Symbol HC
Shares Issued 61,314,704
Close 2022-11-21 C$ 0.49
Market Cap C$ 30,044,205
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Hypercharge hopes to deliver fast charger in December

2022-11-21 12:24 ET - News Release

Mr. David Bibby reports

HYPERCHARGE TO COMPLETE FIRST DC FAST CHARGER INSTALLATION

Hypercharge Networks Corp. is on track to deliver its first DC (direct current) fast-charging station by December, 2022. The installation will take place at the NexSource Centre, located at the Sylvan Lake Multi-Plex in Sylvan Lake, Alta. The deployment will include one Level 3 charger and 10 Level 2 chargers.

The NexSource Centre is the latest addition to a multibuilding development in Sylvan Lake and includes a hockey arena, five-sheet curling rink, senior centre, indoor track, children's play area, multipurpose rooms, lounge and food concessions.

"Level 3, also known as DC fast charging, is the fastest charging option available. They are often deployed for commercial fleets, but there is growing demand for public installations to make it easier for EV [electric vehicle] owners to keep their cars charged and ready to go when needed," said David Bibby, chief executive officer of Hypercharge. "Destination charging with Level 3 is a significant value-add to communities by helping to increase local economic activity."

The Town of Sylvan Lake is leveraging the Municipal Climate Change Action Centre's (MCCAC) electric vehicle charging program to offset the cost for the installation. This program was available to municipalities within Alberta to promote the installation of EV charging stations in public places, on-street locations, municipal workplaces and for municipal vehicle fleets. The program has since expanded with the introduction of the SouthGrow electric vehicle charging program, now open to all municipalities, businesses and other organizations in Alberta.

"When selecting the best EV charging option for a site, many factors must be considered," added Mr. Bibby. "Ensuring access to charging options in public spaces can help increase adoption of electric vehicles by reducing range anxiety. We are seeing support for this from all levels of government as Canada moves toward its commitment to move to zero-emission vehicles by 2035."

Hypercharge was able to provide a service plan and charging hardware that met all requirements of the MCCAC's program to help the Town of Sylvan Lake secure financing for 100 per cent of project costs.

About Hypercharge Networks Corp.

Hypercharge is a leading provider of smart electric vehicle (EV) charging solutions that offers turnkey technology to multiunit residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift toward a carbon-neutral economy, Hypercharge is committed to providing seamless, simple charging solutions by offering industry-leading equipment and a robust network of public and private charging stations.

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