Envision Solar International, Inc. (OTCQB:EVSI) is in the news today as the company announced the successful delivery of EV ARC™ products to five California State Hospitals, including Napa, Atascadero, Metropolitan, Patton and Coalinga. The delivery marks the first EV ARC™ products deployed by a hospital.
The five State Hospitals chose the EV ARC™ product because of its rapid and impact free installation, utility-bill-free EV charging and versatile capability of providing a source of both EV charging and backup power in the event of grid failure. The deployments follow the hospitals’ extensive plans in disaster mitigation and improving resiliency. The EV ARC™ product will provide clean solar energy for public and workplace EV charging and serve as a backup generator in the event of a blackout.
"The California Department of State Hospitals is the latest agency to recognize the benefits of driving on sunshine and improving resiliency with our EV ARCs," said Envision Solar CEO, Desmond Wheatley. "We are delighted to be working with them and look forward to enabling more, clean, green impact-free charging infrastructure for them in the future."
The hospitals’ deployment of the EV ARC™ products is also influenced by the new goals set by the State to increase the adoption of EVs and EV charging stations. The State of California has set a goal of having at least 1.5 million EVs in use in the State by 2025 and Governor Brown’s Executive Order B-48-18 directs State entities to spur the installation of 250,000 zero-emission vehicle chargers by 2025.
While shares of EVSI have been in a sustained downtrend for most of 2018, shares have begun to perk higher since early October, perhaps signalling that a bottom may be in for the stock.
