Evie Networks - Comprehensive Analysis Report

Summary

Evie Networks, established in 2017, is an Australian company focused on enabling freedom of movement via a network of 100% renewable energy-powered electric vehicle (EV) charging stations. The company aims to accelerate the adoption of electric vehicles, contributing to cleaner air, reduced emissions, and quieter communities by owning and operating its charging network.

1. Strategic Focus & Objectives

Core Objectives

• Evie Networks aims to build and operate a reliable and convenient fast and ultrafast charging network for electric vehicles.

• The company provides complete public, home, and workplace charging solutions to car manufacturers, fleets, and retailers.

• The company plans to launch 158 new sites in the next two years.

Specialization Areas

• Specializes in providing complete public, home, and workplace charging solutions.

• Focuses on convenient locations, including shopping centers, grocery stores, and restaurants.

• Operates a network of DC fast chargers powered by 100% green energy.

Target Markets

• Primary target markets include EV drivers seeking convenient charging locations.

• Targets locations such as shopping centers, grocery stores, and restaurants.

• Initially focused on highway coverage and is now expanding across cities and regional areas.

2. Financial Overview

Funding History

• Total funds raised include $10.1 million through one grant.

• Received a $28 million commitment from its major shareholder, St Baker Energy Innovation Fund.

• Backed by St Baker Energy Innovation Fund's commitment of $100 million, accompanied by a $15 million recoupable grant from ARENA.

• Received $10.1 million through a grant from the Australian Renewable Energy Agency (ARENA) on August 26, 2019.

3. Product Pipeline

Key Products/Services

• DC Fast Chargers: Fast and ultrafast charging solutions for electric vehicles.

• Development Stage: Ongoing, with continuous expansion and upgrades.

• Target Market: EV owners, fleets, and car manufacturers.

• Timeline: Over 350 sites in build and development in Australia.

• Key Features: Powered by 100% green energy, convenient locations such as shopping centers, grocery stores, and restaurants.

4. Technology & Innovation

Technology Stack

• Operates a network of DC fast chargers.

• Chargers are powered by 100% green energy.

• Works with partners to build a clean, safe, convenient, and dependable EV charging network.

5. Leadership & Management

Executive Team

• Chris Mills: CEO

• Geoff Brady: COO

• Paul Fox: Co-Founder & Chief Strategy Officer

• Rodger Whitby: Co-Founder & Director

• Trevor St Baker: Chairman

6. Competitive Analysis

Major Competitors

• ChargeNet Holdings

• Chargefox

• Charge HQ

• Tesla

• Jolt

• NRMA

• BP Pulse (BP)

• AmpCharge (Ampol)

• Exploren

7. Market Analysis

Market Overview

• The Australian EV market is growing, with over 87,000 electric cars sold in 2023, more than double the previous year.

• The availability of charging stations has been a major concern for potential EV buyers, second only to the cost of EVs themselves.

8. Strategic Partnerships

Not specified in the document.

9. Operational Insights

• Evie Networks plans to deploy over 300 fast chargers (min 2 per site) at shopping centers, grocery stores, and restaurants.

• The company is directly competing with traditional fuel retailers in terms of convenience.

10. Future Outlook

Strategic Roadmap

• Aims to replicate its successful Australian model in the US by targeting sites where people work, live, and play.

• Plans to accelerate the adoption of electric vehicles and improve the sustainability of the transportation sector in the U.S.

• By expanding its operations in the United States, Evie Networks aims to expand its reach and create new jobs.

• July 2023, selected Phoenix, Arizona as the site of its North American headquarters, with plans to establish charging stations across Arizona.