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Driving Change: Evenergi’s $10M Funding Injection Fuels Growth in US Electric Fleet Market

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In a significant stride towards global prominence, Australian electric fleet management software company Evenergi has secured a substantial $10 million in funding from US investor Aligned Climate Capital. The infusion of capital marks a pivotal moment for the company, signaling its ambitious foray into the vast US market. Evenergi, founded in 2016, has already made a substantial impact on the electric vehicle (EV) landscape in Australia and Europe. Now, with the backing of Aligned Climate Capital, the company is poised for accelerated growth in North America.

The US Market: A Strategic Move

Daniel Hilson, Founder and CEO of Evenergi, highlighted the strategic importance of entering the US market, which constitutes approximately 50% of all complex fleet vehicles globally. The $10 million investment will primarily be directed towards expanding Evenergi’s presence in North America, focusing on team augmentation, software research and development, and marketing initiatives. Despite the growth, the majority of the team will remain based in Australia, showcasing the company’s commitment to its roots.

Aligned Climate Capital and the Vision for Decarbonization

Aligned Climate Capital CEO Peter Davidson, with a wealth of experience from his tenure at the US Department of Energy, emphasized the crucial role that clean fleet optimization plays in the broader decarbonization efforts. With billions of dollars allocated to states and cities for decarbonizing heavy transportation through the Infrastructure Investment and Jobs Act, Evenergi is well-positioned to lead the market with its comprehensive fleet planning and management solutions.

California Energy Commission Grant:

Further bolstering its North American endeavors, Evenergi has secured a substantial grant of $1.7 million from the Californian Energy Commission. The grant, aimed at supporting the decarbonization efforts, holds the potential for a second phase of funding amounting to an impressive $27 million, contingent on the success of the initial proof of concept.

BetterFleet: A Digital Twin Revolution

Evenergi’s flagship software, BetterFleet, operates by creating a ‘digital twin’ of a network of vehicles, meticulously considering factors such as topography, routes, and other relevant information. This innovative approach enables Evenergi to provide clients with a highly accurate predictive model, ensuring the seamless transition to zero-emission fleets. The software has already played a pivotal role in the decarbonization of over 60,000 vehicles worldwide across more than 200 fleets, including major cities like New York, Seattle, Detroit, Honolulu, Sydney, Melbourne, and London.

Learning from International Markets:

Daniel Hilson emphasized the importance of learning from international markets, particularly the US and the UK, as Australia continues its journey toward decarbonizing transport. Stressing the significance of careful planning and avoiding grandiose projects, Hilson highlighted the value of experience and the lessons learned from the successes and failures in more mature EV markets.

With the infusion of $10 million in funding from Aligned Climate Capital and a strategic focus on the US market, Evenergi is poised to further solidify its position as a global leader in electric fleet management. The company’s innovative approach, highlighted by its ‘digital twin’ technology, sets it apart in the competitive EV landscape. As the world moves towards sustainable transportation solutions, Evenergi’s continued success promises to shape the future of electric fleet management on a global scale.

Driving Change: Evenergi’s $10M Funding Injection Fuels Growth in US Electric Fleet Market
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