Brisbane-based fleet energy and AC charging solution manufacturer, EVOS, has announced that it has raised $4 million, as it strives to reach a $10 million funding target to take its operation to the next level.
The $10 million funding round, once completed, will fuel its sales and marketing teams, EVOS outlined, to ensure Australians are able to purchase in-home or business EV chargers from a local manufacturer.
EVOS says the raise will also enable the company to expand its manufacturing operation, bringing products to market faster and meeting increasing demand for its charging solutions both locally and abroad.
“We’re ramping up the rollout of new products and software rapidly, and demand for EV charging at home is only increasing from here on out,” said CEO at EVOS, Marcelo Salgado.
“Sales of EVs are up more than 30 per cent over the same period last year and that number will increase as OEMs move further away from petrol-powered to zero emissions vehicle manufacturing.
“Research shows that EV owners will spend most of their charging time at home or the workplace – and we know that Australians are keen on Australian products.”
This year the company launched its Fleet Platform, an energy management solution for EV-ready business sites, and last year launched its SB7 7kW charger, built with the everyday EV owner in mind and designed to be easily installed.
These launches complemented the company’s existing solutions, the Fleet Home 22 AC charger and its Energy Management platform, a system that instinctively chooses the ideal time for the unit to charge the vehicle.
The firm’s Energy Management platform can also control charge rate, speed and power to ensure owners can manage their energy output, reducing the costs of charging at home or businesses.
“What we’re trying to solve is not only the issue of charging, but the issue of energy,” said Chief Technology Officer at EVOS, Chris Crossman.
“Managing and understanding energy consumption will be a challenge for fleet operators and private owners alike, but our ecosystem perfectly manages when to charge based on feed-in tariffs, when energy is cheapest and also when solar is involved.”
EVOS has also begun its overseas expansion, with sales in Southeast Asia and India on the rise. Recently, the company was one of 35 exporters backed by the Trade and Investment Queensland’s Go Global Export Program, which provides funding and support.
“Our products, which are easy to install, operate and manage, are in demand abroad and we’ve recently hired a regional head of sales to facilitate more sales abroad,” said Chief Experience and Innovation Officer at EVOS, Seshan Weeratunga.
“The capital raise will help us ramp up production across the region, but our main focus is meeting the demand of Australian EV owners and fleet operators as the market here increasingly turns to zero-emissions driving.”
