1. XCharge NA partners with Ascentium to boost EV charging accessibility. 2. New financing model aids small businesses in hosting EV charging stations. 3. U.S. EV charging market projected to grow by 14% CAGR through 2040. 4. Program reduces upfront costs and integrates with existing infrastructure. 5. XCharge aims to simplify EV charging management for businesses of all sizes.
The new financing model could significantly increase demand for XCharge's products, similar to historical cases in tech where innovative business models led to market growth.
The article details a pivotal initiative by XCharge, potentially transforming its market position and enhancing revenue streams.
As the EV market expands, XCharge's financial model positions it for sustained growth, mirroring successes in renewable energy sectors.
This first-of-its-kind program offers small-business owners a turnkey, affordable solution to capitalize on the growing EV charging market
XCharge North America ("XCharge NA"), the North American subsidiary of XCHG Limited (NASDAQ:XCH) and a provider of high-power EV charging and battery-integrated solutions designed to strengthen the North America electrical grid, and Ascentium Capital ("Ascentium"), a division of Regions Bank that specializes in small-business equipment financing solutions, announced a first-of-its-kind initiative designed to accelerate EV charging infrastructure in the U.S. by making charging equipment more affordable and profitable for small-business owners.
Together, XCharge NA and Ascentium designed a financing structure built around the concept of providing new revenue streams for small businesses that wish to host EV charging stations at various locations. The public DC fast charger segment is projected to grow at a 14% compound annual rate through 2040 in the U.S., generating $3.3 billion in annual market value. XCharge NA and Ascentium's financing program gives small businesses an opportunity to capitalize on this growing market without relying on federal funding or government incentives. Unlike Charging-as-a-Service (CaaS) models, where charge point operators earn a percentage of the revenue, lessees of the EV charging equipment have the opportunity to earn the full revenue.
Modeled after a financing structure used by the automotive industry, XCharge NA and Ascentium's financing program offers a flexible, low-risk solution to EV charging asset management. In addition to DC fast-charging capabilities—with power outputs of up to 400kW—chargers in the program can be easily relocated between sites as needed. Other program highlights include:
"At our core, XCharge NA has always been focused on making EV charging more accessible for businesses of all sizes—from high-traffic airports to small-business owners. Our new financing model was designed to mitigate risk for individuals looking to get into EV charging without significant upfront CAPEX," said Aatish Patel, co-founder and president of XCharge NA. "We knew we needed an experienced financial provider to help bring our vision to life, and our collaboration with Ascentium gives us confidence that our new financing structure—the first of its kind in the industry—will unlock new revenue streams for small-business owners and continue to accelerate EV adoption nationwide."
"This is a solution built not only for today, but also for the future as charging capabilities and EV adoption rates continue to evolve," added Stephen Interlicchio, Senior Vice President of Strategic Services for Ascentium Capital. "This type of flexible capital option is exactly what the industry needs now, especially to empower small businesses and real estate owners that don't have the ability to pay significant costs up front but are committed to participating in the EV transition."
To learn more about the financing program, visit: https://www.xcharge.us/financing.
About XCharge NA
XCharge NA specializes in high-power EV charging and battery-integrated solutions tailored to the North American electrical grid. With solutions that store energy, improve grid resilience, and create new revenue streams, XCharge NA provides scalable open-access EV charging solutions designed to strengthen the country's electrical grid and broader energy infrastructure.
About XCharge
XCharge, founded in 2015, is a global leader in integrated EV charging solutions. XCharge offers comprehensive EV charging solutions, which primarily include the DC fast chargers and the advanced battery-integrated DC fast chargers as well as its accompanying services. Through a combination of proprietary charging technology, energy storage system technology and accompanying services, XCharge enhances EV charging efficiency and unlocks the value of energy storage and management. Committed to providing innovative and efficient EV charging solutions, XCharge is actively working toward establishing a global green future critical to its long-term growth and development.
About Ascentium
Ascentium, a division of Regions Bank, specializes in providing a broad range of business equipment financing, leasing, and loans across the U.S. Ascentium's offering is designed to benefit equipment manufacturers and distributors as well as direct to businesses nationwide. For additional information about Ascentium and its business financing products and services, please visit AscentiumCapital.com. Neither Ascentium nor XCharge NA is an agent of the other. Ascentium is not the manufacturer, seller or distributor of the property being financed, and makes no representation or warranty (expressed or implied) concerning such property.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in XCharge's filings with the United States Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the company does not undertake any duty to update such information, except as required under applicable law.
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XCharge NA contact: Alex Urist, Vice President alex.urist@xcharge.us
Media contact: Katie Jacobs, Quarter Horse PR xcharge-na@qh-pr.com