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Oil Giant Chevron Wants In On EV Charging Stations

October 8, 2023
x min read

Fuel giant Chevron is making a bet on the electric vehicle revolution.

What’s happening:

  • Seattle based Electric Era has raised $11.5M in a Series A round with participation from Chevron Technology Ventures Future Energy Fund, SQM Lithium Ventures, Blackhorn Ventures, Proeza Ventures and more
  • Electric Era is building charging station infrastructure to be integrated into gas stations and convenience stores across the United States that leverage their high speed charging technology

Why it matters:

  • Chevron is a global giant in oil and gas so their strategic investment into electric vehicle charging is strong validation of the shift away from fuel powered vehicles and legacy gas stations
  • Electric vehicle charging infrastructure is severely lacking across the United States given the demand for electric vehicles continues to grow exponentially

By the numbers:

  • Electric Era’s trademarked PowerNode charging station can charge an electric vehicle for 100 miles of distance in under 10 minutes
  • Since inception Electric Era has raised $19M USD

The intrigue:

  • Electric Era has built AI powered software that enables real time control of energy consumption across the power grid for all their charging stations

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