Shorepower Technologies Wins Phase 1 Contract with US Department of Energy
Shorepower Technologies Inc. (OTC: SPEV) has won a Phase 1 contract in the U.S. Department of Energy's Hero Re-X Before Recycling Prize challenge. This qualifies the company to participate in Phases 2 and 3, potentially worth up to $650,000. The project focuses on developing a DC fast charger with mobile battery energy storage using repurposed EV batteries, dubbed DCFC-BEST. This innovative approach aims to provide more affordable and equitable access to EV charging across the US, particularly in disadvantaged communities.
The technology could redefine DCFC installation costs and logistics by minimizing grid impacts, streamlining utility permitting, and simplifying deployment. Shorepower's CEO, Jeff Kim, highlights the potential for off-grid applications and solar integration. The company has nearly $1.2 million in outstanding grant proposals across various product lines and geographies.
Shorepower Technologies Inc. (OTC: SPEV) ha vinto un contratto di Fase 1 nella sfida Hero Re-X Before Recycling del Dipartimento dell'Energia degli Stati Uniti. Questo consente all'azienda di partecipare alle Fasi 2 e 3, potenzialmente del valore di $650,000. Il progetto si concentra sullo sviluppo di un caricatore rapido DC con stoccaggio energetico a batteria mobile utilizzando batterie per veicoli elettrici riproposte, chiamato DCFC-BEST. Questo approccio innovativo mira a fornire un accesso più accessibile ed equo alla ricarica dei veicoli elettrici negli Stati Uniti, in particolare nelle comunità svantaggiate.
La tecnologia potrebbe ridefinire i costi e la logistica dell'installazione dei caricabatterie rapidi DC riducendo l'impatto sulla rete, semplificando le autorizzazioni delle utility e facilitando il dispiegamento. Il CEO di Shorepower, Jeff Kim, sottolinea il potenziale per applicazioni fuori rete e integrazione solare. L'azienda ha quasi $1.2 milioni in proposte di finanziamento non ancora approvate in vari settori e aree geografiche.
Shorepower Technologies Inc. (OTC: SPEV) ha ganado un contrato de Fase 1 en el desafío Hero Re-X Before Recycling del Departamento de Energía de EE. UU. Esto califica a la empresa para participar en las Fases 2 y 3, con un valor potencial de hasta $650,000. El proyecto se centra en desarrollar un cargador rápido de CC con almacenamiento de energía en batería móvil utilizando baterías de vehículos eléctricos reutilizadas, denominado DCFC-BEST. Este enfoque innovador tiene como objetivo proporcionar un acceso más asequible y equitativo a la carga de vehículos eléctricos en EE. UU., particularmente en comunidades desfavorecidas.
La tecnología podría redefinir los costos y la logística de instalación de DCFC minimizando el impacto en la red, agilizando los permisos de las utilidades y facilitando el despliegue. El CEO de Shorepower, Jeff Kim, destaca el potencial para aplicaciones fuera de la red e integración solar. La empresa tiene casi $1.2 millones en propuestas de subvención pendientes en varias líneas de productos y geografías.
Shorepower Technologies Inc. (OTC: SPEV)가 미국 에너지부의 Hero Re-X Before Recycling Prize 챌린지에서 1단계 계약을 체결했습니다. 이로 인해 회사는 2단계 및 3단계에 참가할 수 있게 되며, 이는 최대 $650,000의 가치를 지닐 잠재력이 있습니다. 이 프로젝트는 재사용된 전기차 배터리를 이용해 모바일 배터리 에너지 저장 장비를 갖춘 DC 급속 충전기를 개발하는 데 중점을 두고 있으며, 이를 DCFC-BEST라고 부릅니다. 이 혁신적인 접근 방식은 미국 전역, 특히 소외된 커뮤니티에서 전기차 충전을 보다 저렴하고 공평하게 이용할 수 있도록 하는 것을 목표로 하고 있습니다.
이 기술은 그리드에 미치는 영향을 최소화하고, 유틸리티 허가 절차를 간소화하며, 배치를 간소화함으로써 DCFC 설치 비용과 물류를 재정의할 수 있습니다. Shorepower의 CEO인 Jeff Kim은 오프 그리드 응용 프로그램과 태양광 통합의 잠재성을 강조합니다. 이 회사는 다양한 제품 라인과 지역에서 $1.2 백만에 달하는 미결제 보조금 제안서가 거의 있습니다.
Shorepower Technologies Inc. (OTC: SPEV) a remporté un contrat de Phase 1 dans le défi Hero Re-X Before Recycling du Département de l'Énergie des États-Unis. Cela qualifie l'entreprise pour participer aux Phases 2 et 3, potentiellement d'une valeur allant jusqu'à $650,000. Le projet se concentre sur le développement d'un chargeur rapide DC avec stockage d'énergie mobile par batterie utilisant des batteries de VE recyclées, appelé DCFC-BEST. Cette approche novatrice vise à offrir un accès plus abordable et équitable à la recharge de VE à travers les États-Unis, en particulier dans les communautés défavorisées.
La technologie pourrait redéfinir les coûts et la logistique d'installation des DCFC en minimisant les impacts sur le réseau électrique, en rationalisant les autorisations des services publics et en simplifiant le déploiement. Le PDG de Shorepower, Jeff Kim, souligne le potentiel des applications hors réseau et de l'intégration solaire. L'entreprise a presque $1,2 million en propositions de subvention en attente dans divers secteurs et zones géographiques.
Shorepower Technologies Inc. (OTC: SPEV) hat einen Phase-1-Vertrag in der Hero Re-X Before Recycling Preis-Herausforderung des US-Ministeriums für Energie gewonnen. Dies qualifiziert das Unternehmen für die Teilnahme an Phase 2 und 3, die potenziell bis zu $650,000 wert sein könnten. Das Projekt konzentriert sich auf die Entwicklung eines DC-Schnellladegerätes mit mobilem Batteriespeicher, das wiederverwendete EV-Batterien nutzt, bezeichnet als DCFC-BEST. Dieser innovative Ansatz zielt darauf ab, den Zugang zu EV-Ladung in den USA, insbesondere in benachteiligten Gemeinden, erschwinglicher und gerechter zu gestalten.
Die Technologie könnte die Installationskosten und Logistik von DCFC neu definieren, indem sie die Auswirkungen auf das Stromnetz minimiert, Genehmigungen von Versorgungsunternehmen vereinfacht und die Bereitstellung optimiert. Der CEO von Shorepower, Jeff Kim, hebt das Potenzial für Off-Grid-Anwendungen und die Integration von Solarenergie hervor. Das Unternehmen hat fast $1,2 Millionen an ausstehenden Zuschussanträgen in verschiedenen Produktlinien und geografischen Regionen.
- Won Phase 1 contract in DOE's Hero Re-X Before Recycling Prize challenge
- Eligible for Phases 2 and 3, potentially worth up to $650,000
- Developing innovative DC fast charger with mobile battery energy storage (DCFC-BEST)
- Technology could reduce DCFC installation costs and simplify deployment
- Potential for off-grid and solar-integrated applications
- $1.2 million in outstanding grant proposals across product lines and geographies
- None.
Eligible to Apply for Phases 2 and 3, valued at
PORTLAND, Ore., Aug. 30, 2024 (GLOBE NEWSWIRE) -- In June 2024, the U.S. Department of Energy (DOE) announced the 20 teams from 13 states who won Phase 1: Identify! for the Hero Re-X Before Recycling Prize challenge. Shorepower Technologies Inc. (OTC: SPEV) is pleased to announce they are among this winning cohort and now qualify to participate in Phases 2 and 3, which could yield additional awards of up to
The Phase 1 grant provides support for Shorepower to begin development of a DC fast charger that includes mobile battery energy storage, using repurposed/recycled EV batteries to power the modules. Internally, Shorepower refers to this as DCFC-BEST (DC Fast Charger - Battery Energy Storage Transportable technology). The award represents the company’s first award in the DC Fast Charger space. Shorepower will be working with local communities and college students to develop the DCFC-BEST system, to ultimately provide more affordable and equitable access to EV charging across the US. The opportunity of focus for Shorepower’s project is the existing and exponentially emerging waste stream of used EV batteries. These used batteries don’t have enough capacity remaining for an electric vehicle, but are well suited for the DCFC-BEST.
From the DOE: “By stimulating innovation and private investment in circular economy approaches, the innovations developed through this prize will reduce life cycle energy and emissions, strengthen circular supply chains for emerging clean energy technologies, and decrease the demand for virgin materials…Competing teams will help to unlock new or expanded supply chains that can reintegrate end-of-use products into the economy via reuse, repair, refurbishment, remanufacturing, and/or repurposing (collectively called “Re-X”).”
Shorepower’s CEO Jeff Kim adds, “We plan to make a positive impact by diverting these batteries from landfills and repurposing them for energy storage and fast charging for EV’s. This will be a cost-effective way to provide EV charging solutions for our disadvantaged community partners, fleets, and others wanting the technology. The impact of this Re-X opportunity is expected to greatly redefine the possibilities of DCFC installation costs and logistics - by minimizing impacts to the local grid for power demand, streamlining the utility permitting phase and simplifying deployment of charging stations, and making DCFC charging a viable economic option within disadvantaged communities. Our modular battery-based charging stations could be installed at sites using solar without any grid connection, or with much lower levels of residential power - thus providing an immediate low-cost charging solution in these communities. This technology would be ideal for remote use such as off-grid retreats, entertainment venues and military operations; solar charging could make the system even more resilient. Our momentum in contract grant awards continues. We anticipate further wins in the weeks ahead and have close to
Read the winner announcement to learn more about the prize and this phase’s winning teams: https://www.energy.gov/eere/ammto/articles/doe-announces-phase-1-winners-re-x-recycling-prize-extend-product-and-part
Investor Relations Contact:
Inflection Partners, eric@inflectionpartnersllc.com
About Shorepower Technologies
Shorepower is a transportation electrification company that builds, deploys and operates plug-in stations that allow electric vehicles, trucks, and refrigerated trailers to conveniently access electric power while parked or staged - resulting in cost savings for fleets and drivers, and offsetting petroleum fuel consumption. This significantly reduces associated toxic emissions and greenhouse gases by replacing petroleum fuels with electric power. Shorepower operates the largest heavy-duty focused network of electrified parking spaces in North America. This network includes 60 facilities conveniently located at travel centers - with approximately 1,800 electrified parking spaces. These facilities provide truck stop electrification (TSE) and electric standby transport refrigeration units (eTRU), and several sites include electric vehicle charging stations - a focus that Shorepower will continue to advance.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," and "will" and variations of such words and similar expressions are intended to identify such forward-looking statements. All statements in this press release pertaining to our expectations relating to this acquisition constitute forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to, the accuracy of our estimates regarding expenses, capital requirements and need for additional financing, our ability to operate our business and generate profits, decline in global financial markets and economic downturn resulting from the coronavirus COVID-19 global pandemic, business interruptions resulting from the coronavirus COVID-19 global pandemic, and general risk factors affecting the restaurant industry, including current economic climate, costs of labor and energy prices.
These and other risks, assumptions and uncertainties are described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and in other documents that we file or furnish with the Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. We expressly disclaim any current intention to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47dd4c1a-9faa-40d0-9d1f-ed7fd86b0736
FAQ
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