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Envision Solar International (EVSI) will report its second quarter 2020 financial results on August 13, 2020, after market close. A conference call will follow at 4:30 PM ET, providing insights into financial performance and corporate developments. Interested parties can pre-register for the call via the provided link. Envision Solar specializes in sustainable infrastructure products for electric vehicles, featuring offerings like EV ARC™ and Solar Tree® technologies. For more information, visit their website or reach out through social media platforms.
Envision Solar International (Nasdaq: EVSI) has announced the deployment of its solar-powered EV ARC™ 2020 charging station in San Luis Obispo, California. This unit, which includes a ChargePoint dual-plug charger, enhances the city’s energy resilience and emergency preparedness. Funded by the San Luis Obispo County Air Pollution Control District, the EV ARC™ allows for emissions-free charging without a monthly utility bill, supporting the city’s 2019-2021 Climate Action goals. The rapid deployment showcases the ease of installation and mobility of EV ARC™ products.
Envision Solar International, Inc. (NasdaqCM: EVSI) has completed its underwritten public offering, issuing 1,212,121 shares at $8.25 each, generating approximately $11.5 million in gross proceeds. Maxim Group LLC managed the offering, with an option to purchase an additional 181,818 shares, of which 181,779 shares have been exercised. The offering was registered with the SEC, and the prospectus is available online. Envision Solar specializes in sustainable infrastructure products, including electric vehicle charging solutions and energy security technologies.
Envision Solar International announced the pricing of its underwritten public offering of 1,212,121 shares at $8.25 each, raising approximately $10 million before expenses. The offering is managed by Maxim Group LLC and includes a 45-day option for underwriters to purchase an additional 181,818 shares. This public offering relies on an effective shelf registration statement filed with the SEC. Envision Solar produces sustainable infrastructure products for electric vehicles and energy security, showcasing a commitment to innovation in clean energy solutions.
Envision Solar International has announced that its innovative flood-proof EV ARC™ product is now patent pending under U.S. Patent Application No. 16/898,097. This product can withstand flooding of over nine feet, ensuring continued operation during severe weather events. It serves as an ideal solution for areas prone to flooding while providing essential charging and emergency power. CEO Desmond Wheatley highlighted its importance for disaster preparedness, particularly amidst increasing flooding risks due to climate change and the growing need for electric vehicle infrastructure.
Envision Solar (EVSI) has secured a second multi-unit order from Madison, Wisconsin, for its solar-powered charging infrastructure. The City Council approved the purchase of two additional EV ARC™ units, complementing an earlier deployment. These units support city initiatives for sustainability and energy security, enabling EV fleet vehicles to operate on 100% clean energy. Fleet Superintendent Mahanth Joishy emphasized the advantages of the charging technology, which is easily deployable, movable, and equipped with emergency power capabilities, enhancing overall city resilience.
Envision Solar reported Q1 2020 revenues of $1,317,052, an 11% increase from $1,189,595 in Q1 2019. Notable contracts include a $2 million order from Electrify America and a growing customer base across municipalities and colleges. The company's gross loss decreased to $39,641, down 25% year-over-year, while net loss was stable at $942,521. The cash position fell to $2,432,300 by March 31, 2020, impacted by increased inventory costs. The company remains optimistic despite minor COVID-19 related funding delays.
