Electric-vehicle charging stations in Vaughan on July 26, 2023. FLO EV Charging Solutions has received $136-million in long-term capital to advance the rollout of new products, including an ultrafast charger that can charge most new EVs to 80 per cent in 15 minutes.A Quebec-based EV charger company has secured $136-million in long-term capital to deploy a 15-minute charger and expand a high-tech network across Canada and the U.S.
“FLO has 15 years of delivering reliability,” president and chief executive officer Louis Tremblay said. “Investors saw this opportunity to invest in a market share that is growing.” FLO has two major revenue streams. It is a charging manufacturer and sells hardware to gas stations, grocery stores, convenience stores and developers. Customers include Canadian Tire and the City of Toronto.
, said Jeff Turner, director of clean mobility at Dunsky Energy and Climate. This demand will remain constant over the long term. According to research by Dunsky, infrastructure needs would represent a total investment of approximately $20-billion over the next three decades. And Mr. Turner agrees with FLO: maintenance and reliability are key.
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