Are you looking to invest in a revolutionary technology that is set to transform the electric vehicle (EV) industry? Look no further than HEVO. Our innovative wireless EV charging and end-to-end software platform is designed to support the mass scaling and adoption of EVs, creating an exceptional user experience for drivers and fleets. With $2 million in orders from automakers, fleets, and charging customers around the world and a development agreement with Oak Ridge National Labs and a major automaker, HEVO is poised for success in the rapidly expanding EV charging market.
The Problem: Plugin EV Charging Has Critical Limitations
As the demand for electric vehicles grows, so does the need for reliable charging infrastructure. However, current plugin charging systems have several limitations that hinder the widespread adoption of EVs. Firstly, there is a lack of a universal protocol, with many charging locations requiring more than three different connector types. This can be inconvenient and confusing for drivers. Cord management is also a major issue, as drivers may forget to plug in, cords can be a tripping hazard and are vulnerable to vandalism, and connectors can break after frequent use. In addition, plugin charging networks are often fragmented, requiring multiple accounts, apps, keycards, and RFID fobs to access and pay. Finally, plugin charging is not easily scalable, which is a problem as global EV adoption is forecasted to increase significantly in the coming years.
The Solution: A Wireless EV Charging Network
HEVO is solving these issues with our wireless EV charging network. Our technology meets the universal safety and performance standards for wireless EV charging set by UL and the Society of Automotive Engineering (SAE), ensuring that it is reliable and safe to use. Our complete hardware and software solution, called Rezonant E8, includes a power station, vehicle assembly, wireless power pad, and an app and cloud platform. The power station can be wall or pole-mounted and offers the option of integrated wireless and plugin Level 2 charging. The vehicle assembly, which consists of a wireless battery adapter and wireless vehicle pad, can be installed on any EV. The wireless power pad is mounted onto or embedded into the ground, and the app and cloud platform synchronizes parking alignment, bill pay, charging analytics, and other key user services.
Our software product for end users also works like a replacement for Maps and Waze, providing features such as route planning, pricing, reservations, and other travel services. By offering a complete solution that integrates hardware and software, we are able to build our user base and create a strong community.
Traction and Partnerships
HEVO has already gained significant traction with OEM manufacturers and Tier 1 suppliers, as well as a development agreement with Oak Ridge National Labs and a major automaker. We have also raised $4 million in the past 12 months through crowdfunding on Republic and have been named a 2022 Automotive News PACEpilot Innovation to Watch by a leading auto industry publication. Our revenue is projected (not guaranteed) to exceed $500 million by 2027.
By investing in HEVO, you will be supporting the development of a technology that has the potential to revolutionize the EV industry. Our wireless charging network offers exceptional convenience, is designed for scale, and is highly cost-efficient, making it an attractive solution for both consumers and businesses. We have already secured $2 million in orders and have a robust customer and business development pipeline. Join us in our mission to create a durable, scalable network that supports widespread EV and autonomous vehicle adoption. Invest in HEVO today.