Hypercharge Secures Third EV Charger Contract In a Week

Hypercharge Networks (NEO: HC) is on a roll recently with securing new locations for its smart electric vehicle charging stations. The firm this morning indicated it has been selected to provide chargers to the Kapawe’no First Nation in Grouard, Alberta.

The latest contract awarded will see the company provide one 60kW Level 3 DC fast charger, and ten Level 2 charging stations to the First Nation, with the chargers to be installed across multiple properties. Installation is set to occur at the Band office, the local college, and at a Museum.

Financial details of the transaction were not disclosed. Installations are slated to be conducted in the second quarter of 2023.

The arrangement however follows an after-hours announcement on Friday, where the company indicated it had been selected by the Lark Group of Companies to install 128 Level 2 EV chargers to a new development in Surrey, BC. Installations of the chargers are due to be completed in the first quarter of 2024.

That transaction seemingly set off a run in the equity of the company, with the price of shares climbing from $0.46 as of Friday’s close, to as much as $0.87 on Monday, before topping out at $2.14 on Tuesday and ultimately closing the session at $1.31.

Curiously however, the announcement that set off that run wasn’t even the largest charger deal announced by the company last week. Last Wednesday Hypercharge indicated it had been selected to provide 748 Level 2 charging stations to the King George Hub, a mixed-use development hub in Surrey that will see every parking spot equipped with a Level 2 charger. The Hub is slated to consist of mixed-use office and retail space, along with residential space.

“The vision for King George Hub is exceptional and we are delighted to be supporting this groundbreaking strategy to support the future of clean transportation. Adding EV charging stations to every stall in the development is a very supportive move that sets a new standard for developments. We are proud to have delivered a plan that is flexible and able to accommodate load sharing to streamline and minimize the infrastructure requirement,” commented Chris Koch, whom is Head of Growth & Partnerships for Hypercharge.

The King George Hub is slated for occupancy in early 2025.

Hypercharge last traded at $1.31 on the Neo.

Information for this briefing was found via Edgar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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