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SAN LEANDRO, California (April 6, 2021) – FreeWire Technologies, a leader in electric vehicle (EV) charging and power solutions, today announced that an independent report conducted by the Electric Power Research Institute (EPRI) validated the functionality and possible economic advantages of its next-generation EV charging product, Boost Charger™.
In November 2020, EPRI conducted a laboratory evaluation of Boost Charger to test FreeWire’s two main stated economic advantages over traditional DC fast chargers:
According to the report conducted as part of EPRI’s Incubatenergy Labs Challenge, the FreeWire Boost Charger can enable ultrafast charging while only requiring low voltage input, with a potential saving of tens of thousands on installation costs and almost $30,000 a year on energy fees and demand charges dependent on rates and policies of the local utility.
“The single biggest challenge to scaling ultrafast charging is infrastructure limitations – extremely high power is required for fast charging at scale, but enhancing the electric grid in places where drivers will need to charge is prohibitively expensive and complicated,” said Arcady Sosinov, Founder and Chief Executive Officer of FreeWire. “We have developed a novel solution with Boost Charger that addresses these barriers by delivering high power everywhere without expensive and burdensome grid upgrades.”
EPRI estimates a potential annual $29,180 energy cost savings to the site host over the life of the unit as well as reduced installation costs under the right circumstances.
“EPRI’s test found that our technology worked as designed, with the potential to save our customers tens of thousands of dollars per year, while lowering barriers of adoption to enable rapid expansion of critical charging infrastructure to drive EV growth,” said Sosinov.
FreeWire’s Boost Charger is a powerful battery-integrated electric vehicle charger that delivers high power while significantly reducing demand charges. Easy to connect with existing infrastructure, it can be set up without costly construction or extensive permitting. Boost Charger enables ultrafast charging using the same infrastructure as Level 2 chargers at up to a 40% lower cost of installation versus other fast chargers. With its integrated storage and ultrafast charging speeds, Boost Charger is ready for current and next generation EVs.
FreeWire has deployed over 200 battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. In December 2020, FreeWire and bp pulse, one of the UK’s leading providers of EV charging infrastructure, announced an exclusive MOU for bp pulse to deploy Boost Charger in its operations across the UK. FreeWire and ampm, a bp subsidiary and convenience store chain with over 1,000 locations, have already deployed multiple public charging stations in the U.S.
In January 2021, FreeWire announced a $50 million Series C funding round, led by Riverstone Holdings, with participation from current shareholders bp ventures, Energy Innovation Capital, and Blue Bear Capital. This financing will enable FreeWire to accelerate international market expansion of Boost Charger and expand production capacity to meet unprecedented customer demand.
About FreeWire Technologies
FreeWire’s turnkey power solutions deliver energy whenever and wherever it’s needed for reliable electrification beyond the grid. With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure. Learn more at www.freewiretech.com
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