mPhase Announces Initial EV Charging Sites in North Carolina, Enters Hotel Site Market

Rhea-AI Summary

mPhase Technologies (OTC Pink: XDSL) announced the selection of eight initial locations for its mPower EV charging network in North Carolina. The sites include three gas stations and five hotels in cities such as Durham and Rocky Mount, each expected to feature four level 2 chargers. The strategic site selection emphasizes proximity to high traffic areas and partnerships with major brands like Exxon, BP, McDonald’s, and Subway. mPhase aims to expand its EV ecosystem, including charging, 5G connectivity, and data-driven services.

Positive

• Initial EV charging locations established in North Carolina, enhancing network expansion.
• Partnerships with recognized brands like Exxon and BP, increasing consumer engagement potential.
• Strategic site selection focuses on high traffic areas and amenities, potentially boosting customer use.

Negative

• None.

Rockville, MD, May 26, 2022 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTC Pink: XDSL) (“mPhase” or the “Company”), a technology company developing the mPower EV+ (electric vehicle) charging network and consumer engagement platform, today announced the completion of site selection for the first eight mPower EV charging locations in the State of North Carolina, consisting of three gas station and five hotel properties. These initial locations are in Elizabeth City, Hertford, Rocky Mount, Roanoke Rapids, and Durham. The sites are expected to have an average of four level 2 chargers branded under the mPower name.

Strategic selection across the mPower network is concentrated on sites with proximity to high traffic roadways, affiliation with major regional and national brands, and onsite amenities such as restaurants, car washes and convenience stores that could benefit from the mPower consumer engagement platform. The first North Carolina sites feature two leading gas station brands, with one Exxon and two BP locations. Food and convenience brands at these mPower sites include McDonald’s and Subway. The five hotel sites were strategically selected across five major brands: Comfort Inn, Fairfield Inn, Holiday Inn, Country Inn, and Springhill Suites.

“We already have thousands of potential gas station sites in our pipeline, but today’s announcement adds the hotel vertical to our mPower ecosystem roll-out,” explained mPhase Chairman and CEO Anshu Bhatnagar. “You are going to see this pattern repeated in each state that we enter, with a concentration on major brands at the installation site, coupled with proximity or affiliation to national restaurant chains, followed by new verticals into different site types that can complement our network. We are carefully selecting each site to prove out our EV+ concept across a variety of location types and with a broad mix of partners in order to broaden the reach of our sales effort. Today’s announcement features five different hotel brands, a list that is going to get longer as we expand into new regions. This is an exciting time as we begin to put our mPhase chargers to work in support of what we believe is the industry’s most advanced EV ecosystem.”

Site assessment is scheduled to begin within a week, with installation to follow. The Company has not yet announced the full mPower pipeline in North Carolina, but expects that it will be similar in scale to previously announced states after full deployment.

About mPhase Technologies

mPhase is an emerging EV-centric technology company focused on consumer engagement using data analytics and artificial intelligence to create a monetizable link between consumers and retailers at opportunistic times and places. The Company is currently building a connected ecosystem of EV charging, 5G internet connectivity and software solutions that optimize consumer engagement within the framework of a SaaS/TaaS model. Branded under the mPower name, this ecosystem will empower the way people shop, dine, fuel and interact with the world to create a richer life experience. The mPower ecosystem is tailored to each individual’s tastes and needs, with particular emphasis on empowering tomorrow’s green consumer. mPhase also has data driven business units generating recurring revenue outside of its consumer ecosystem, in addition to legacy nanobattery technology and a related patent portfolio that are slated for future development. Additional information can be found at the mPhase website, www.mphasetech.com; and at www.mpower.co. Please follow us on twitter: @mPhase_Tech for the latest updates.

Investor Contact:
ir@mphasetech.com

FAQ

What is the recent announcement by mPhase Technologies regarding XDSL?

mPhase Technologies announced the completion of site selection for its first eight mPower EV charging locations in North Carolina, including gas stations and hotels.

Where are the mPower EV charging sites located in North Carolina?

The mPower EV charging sites are located in Elizabeth City, Hertford, Rocky Mount, Roanoke Rapids, and Durham, North Carolina.

What brands are associated with the mPower charging locations?

The charging sites feature partnerships with major brands such as Exxon, BP, McDonald’s, Subway, and five hotel chains including Comfort Inn and Holiday Inn.

How many chargers are planned for each mPower location in North Carolina?

Each mPower location is expected to have an average of four level 2 chargers.

What is the purpose of the mPower EV charging network?

The mPower EV charging network aims to create a connected ecosystem for electric vehicles, enhancing consumer engagement and providing convenient charging solutions.