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Charge Enterprises, Inc. (CRGE) is a leading electric vehicle (EV) charging, electrical, and broadband infrastructure company based in New York. The company offers end-to-end project management services, from design and installation to monitoring and maintenance. Charge focuses on providing innovative infrastructure solutions to clients, including automotive fleet operators, real estate owners, and government entities. Recent partnerships with major players like Ford, Stellantis, Eaton, and Autel demonstrate Charge's commitment to growth and industry leadership. With approximately 62,000 charging stations in the U.S. compared to 168,000 gas stations, Charge is uniquely positioned to capitalize on the growing EV market. The recent recapitalization led by Arena Investors, LP, aims to support Charge's expansion and drive profitability. Scott Haeger, a seasoned executive, has been appointed as the interim CEO to steer Charge towards sustainable growth and success.
Charge Enterprises (OTC PINK:CRGE) announced a strategic alliance with Smart Charge America to enhance electric vehicle (EV) infrastructure and geographic reach. Established in 2007, Smart Charge has installed nearly 10,000 chargers in 20 U.S. cities. The partnership aims to provide comprehensive EV charging solutions, addressing range anxiety for consumers. Charge's strengths in end-to-end infrastructure, combined with Smart Charge's installation services, will accelerate the electrification of transportation, enhancing growth prospects in a rapidly evolving market.
Charge Enterprises Inc. (OTC PINK:CRGE) celebrates the U.S. Congress' passage of the $1 trillion Infrastructure Investment and Jobs Act, which aims to enhance electric vehicle (EV) and broadband infrastructure. The legislation includes $7.5 billion for EV chargers and $65 billion for broadband access, bolstering Charge's strategic focus on providing end-to-end infrastructure solutions. CEO Andrew Fox highlights the act's potential to accelerate intelligent connectivity and electrification, positioning Charge as a leader in 5G networks and EV ecosystems. The bill is expected to significantly impact Charge's operations.
Charge Enterprises (OTC PINK:CRGE) announced the appointment of Mark LaNeve as President and Nicole Antakli as Chief Business Officer. LaNeve will lead corporate strategy and oversee operations, leveraging his extensive background from companies like General Motors and Ford. Antakli, previously Director of Administration, will focus on the EV Charging Infrastructure business. Chairman and CEO Andrew Fox emphasized the importance of these roles in addressing growing demands for EV charging and 5G infrastructure. Charge aims to position itself as a leader in these sectors.
Charge Enterprises (OTC PINK: CRGE) has formed a strategic alliance with National Community Renaissance to enhance electric vehicle (EV) charging infrastructure across its sites. This collaboration enables National CORE to utilize Charge's flexible and scalable EV solutions, which aim to meet growing technological demands. Recognized as a LEED Homes Power Builder, National CORE focuses on affordable housing while this partnership seeks to create sustainable infrastructures, promoting energy efficiency and reducing emissions in underserved communities. Charge's holistic infrastructure offerings will support National CORE's commitment to community transformation.
Charge Enterprises (OTC PINK:CRGE) announced that Andrew Fox, the Founder and CEO, will present at the Dawson James Securities 6th Annual Small Cap Growth Conference on October 21, 2021, at 8:55 AM. The presentation will focus on the company's initiatives in Electric Vehicle Charging and 5G Wireless Networks. A webcast replay and the latest investor presentation will be available on Charge's website. Charge operates in telecommunications and infrastructure, aiming to enhance global connectivity through EV charging solutions and telecom services.
Charge Enterprises Inc. (OTC PINK:CRGE) announced a partnership with Patton Wings, Inc. to install Charge Powerbanks at selected Buffalo Wild Wings locations in Michigan. This agreement provides customers and employees access to portable charging for mobile devices. Initially, Powerbanks will be available at multiple BWW franchises in Michigan, allowing users to easily charge their devices via the Charge app. This collaboration marks a significant step in expanding Charge's service offerings and enhancing customer experience at Patton Wings restaurants.
Charge Enterprises Inc. (OTC PINK:CRGE) has appointed Leah Schweller as Chief Financial Officer, effective September 13, 2021. Leah brings over 25 years of financial experience, including significant roles at American Express and Deloitte & Touche. She aims to enhance financial reporting and controls while supporting a future Nasdaq listing. Additionally, Andrew Fox, the company's founder and CEO, will become Chairman of the Board, succeeding Kenneth Orr. This leadership change aligns with Charge's vision to expand its electric vehicle charging and telecommunications infrastructure.
Charge Enterprises (OTC PINK:CRGE) announced that Andrew Fox, Founder and CEO, will present at two upcoming investor conferences.
The H.C. Wainwright 23rd Annual Global Investment Conference will feature a virtual presentation available from 7:00 a.m. ET on September 13, 2021. The Benzinga Electric Vehicles Conference is scheduled for September 22, 2021, at 10:30 a.m. ET. Webcasts for both events will be accessible online. Charge aims to connect global communication and EV charging infrastructures, focusing on innovation and growth in these sectors.
Charge Enterprises reported Q2 2021 revenue of $129.5 million, with a net loss of $12.7 million or $0.08 per share. The loss includes $1.3 million in deal-related costs and $11.2 million in non-cash charges. Operating income totaled $1.17 million. As of June 30, 2021, the company held $20.2 million in cash and equivalents. Charge is focusing on growth through strategic acquisitions, including ANS, and aims for a Nasdaq listing by year-end. The market opportunity for electrification and 5G networks is projected to reach $200 billion by 2027.
Charge Enterprises Inc. (OTC PINK:CRGE) appointed Mark Buzzell as VP OEM, Dealer and Commercial Development, effective August 2, 2021. Buzzell, a seasoned automotive leader, will oversee relationships with manufacturers and dealers, supporting the expansion of EV charging stations. The global EV charging market is expected to grow at a CAGR of 23.2% to $100 billion by 2027. CEO Andrew Fox highlighted Buzzell's expertise as crucial for Charge's strategy to lead in this market and simplify EV ownership. Buzzell previously held significant roles at Ford, enhancing Charge's infrastructure team.
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