Electric vehicles just got a boost from Joe Biden. For one, the U.S. rejoined the Paris Accord. Two, Biden has mentioned a $2 trillion clean energy plan, with hopes for net zero emissions by 2050. Three, Biden just noted the U.S. federal government would replace its fleet of vehicles with electric vehicles. “The federal government also owns an enormous fleet of vehicles, which we're going to replace with clean electric vehicles made right here in America, by American workers,” he said, as quoted by ABC News.
At the moment, “The federal government owns about 645,000 vehicles total, according to a 2019 General Services Administration report, with more than 225,000 of those belonging to the U.S. Postal Service and more than 170,000 of those belonging to military agencies,” they added.
In addition, Biden’s site has noted, “He will work with our nation’s governors and mayors to support the deployment of more than 500,000 new public charging outlets by the end of 2030.”
That could be beneficial for companies such as CleanSpark, Inc. (NASDAQ:CLSK)
The company just announced that its wholly-owned subsidiary, GridFabric has completed the process of OpenADR certification for KIGT, Inc. KIGT is an electric vehicle (EV) charging, software and technology company focusing on charging stations and related software for commercial, fleet, and residential vehicles.
KIGT’s charging platform and proprietary software have now been added to the official list of OpenADR certified products. The list of entities having achieved certification, including KIGT, can be found at https://products.openadr.org/product/kigt-inc-kigt_ven/
KIGT, an Ontario, California based firm, was founded as a reseller of EV charging equipment more than a decade ago. The principals of the company identified a need within the electric vehicle sector for a more efficient, faster charging and affordable solution. The team at KIGT successfully launched a proprietary platform and began manufacturing their own products in 2014. This Open ADR certification will enable KIGT to enter new markets, participating alongside other, older EV charging companies in serving entities including major California Utilities and HECO (Hawaiian Electric Company, Inc.).
We believe the electric vehicle market is poised for exponential growth
According to McKinsey & Company, “With consumer focus shifting towards sustainability, it is anticipated that expenditure on electric vehicles will double over the next 5 years.”
Paul Francis, Co-Founder of KIGT, said of the announcement, “OpenADR certification will be a key driver for our growth in 2021, allowing us to work with leading utilities’ demand response and incentive programs. GridFabric made the process easy, as we were able to become fully certified much quicker and at a significantly lower cost than attempting the certification process alone.”
Zach Bradford, CleanSpark’s President and Chief Executive Officer stated, “GridFabric’s Plaid product is one of the fastest ways for a company like KIGT to achieve full OpenADR certification across their platform. This process allows them to participate in utility load shifting programs, rapidly. Alternatively, the process of achieving certification without this program can result in months-long delays and substantial capital expenditures. This project is yet another successful deployment of GridFabric’s unique offering within the broader EV charging industry.” Adding, “GridFabric, has continued to expand its network of customers since its acquisition by CleanSpark in 2020. Following President Biden’s remarks this week committing to the replacement of the entire Federal fleet with electric vehicles, we believe the focus on rapid certification of EV charging systems is poised to accelerate over the course of the coming years.”
Executive Chairman Matthew Schultz will also be speaking today, January 28th at 12pm Eastern at the RenMark Virtual Roadshow. To view the live presentation, CLICK HERE. A recording will be available on the Company investor website a few days after the presentation.
Other related developments from around the markets include:
Blink Charging Co. (NASDAQ:BLNK), a leading owner, operator and provider of electric vehicle (EV) charging equipment and services, announced that it has signed an exclusive seven-year agreement with Lehigh Valley Health Network (LVHN) for Blink to own and operate charging stations across the health network's extensive portfolio of locations. The agreement allows Blink to deploy EV chargers across LVHN’s hundreds of health care facilities, including hospitals, health centers, physician practices, rehabilitation locations, ExpressCARE sites and other outpatient care locations. Under this agreement, Blink will own and operate the charging stations. "As evidenced by the exclusive and long-term nature of this agreement 7-years with two 7-year extensions, LVHN is committing to making EV charging stations available to the medical staff, patients and visitors of Lehigh Valley Health Network. They serve as a model both in their local communities and the health care industry, and they should be commended for providing the infrastructure required to make widespread EV adoption a reality," said Blink Charging Chief Operating Officer Brendan Jones.
Tesla (NASDAQ:TSLA) has released its financial results for the fourth quarter and full year ended December 31, 2020 by posting an update on its Investor Relations website. Please visit http://ir.tesla.com to view the update.
Workhorse Group Inc. (NASDAQ:WKHS), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, announced that it has received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises, a premier Canadian and U.S. based, privately held company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. The order is split between Workhorse’s C-1000 and C-650 models and is subject to various production and delivery conditions.
Enphase Energy Inc. (NASDAQ:ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, announced the closing of its acquisition of Sofdesk Inc., headquartered in Montreal, Canada. Sofdesk’s Solargraf™ integrated software platform offers the industry’s leading digital tools and services designed to simplify and accelerate the end-to-end sales process across the residential solar industry. The Solargraf platform provides solar installers with critical pre-sales engagement design, quoting and work-flow management from any PC, tablet or mobile device. In addition, Sofdesk also offers Roofgraf™, a software product that enables roofing contractors to generate homeowner proposals using advanced machine learning technology.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for CleanSpark, Inc. by a third party. We own ZERO shares of CleanSpark, Inc. Please click here for full disclaimer.
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