We at Electronic Grid Systems Inc. (eGrid) have developed the most cost-effective and scalable EV charging solution on the market using integrated hardware and software. Our solution covers both slow (level 2) and fast charging and was developed based on our proprietary DC power distribution and intelligent demand-side management technologies. We can effectively resolve the issues associated with power demand spikes and inadequate grid infrastructure required to accommodate the power draw from increased Electric Vehicle adoption.
Currently, we are piloting the software with level 2 charging stations at the University of Alberta and Northern Alberta Institute of Technology, and the core power conversion units of the fast charger with major utility companies in Alberta. We have also received advanced interest and commitment from both utility and commercial customers.
eGrid has also secured $1.6 million non-dilutive grants, of which $1.1 million is available for the next 24 months. We are now looking to raise $1 million to grow revenue in the level 2 charging market and fast development of the fast charging product.
Our solution eliminates that largest barrier to widespread EV adoption in North America and will make affordable charging infrastructure available to all.