Shorepower Technologies Secures Phase 1 Funding for EV Charging
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Shorepower Technologies Achieves Phase 1 Contract with the DOE
Shorepower Technologies Inc. (OTC: SPEV) has recently achieved a significant milestone, as it was selected among a group of 20 teams recognized by the U.S. Department of Energy (DOE) for their innovative approaches to electric vehicle (EV) charging. This achievement comes as part of the Phase 1: Identify! stage of the Hero Re-X Before Recycling Prize challenge, an initiative aimed at promoting environmentally friendly solutions in EV technology.
Innovative EV Charging Solutions
This Phase 1 grant signals the beginning of Shorepower's venture into developing a cutting-edge DC fast charger that leverages mobile battery energy storage. What makes this technology particularly unique is its incorporation of repurposed and recycled EV batteries, allowing for efficient energy use. Internally termed as the DCFC-BEST (DC Fast Charger - Battery Energy Storage Transportable technology), this project is set to enhance the accessibility and affordability of EV charging stations across various communities.
Collaboration with Communities and Students
Shorepower recognizes that community involvement is vital to the success of this project. They plan to collaborate closely with local organizations and students from colleges to ensure the DCFC-BEST system is viable and meets the needs of underserved areas. The project specifically targets the growing problem of waste from used EV batteries, which, while no longer effective for automotive use, can serve as an excellent resource for energy storage in fast-charging applications.
Contributions Toward Circular Economy
The DOE emphasizes that this initiative will stimulate innovation and drive private investment into circular economy approaches. By utilizing existing waste streams and reintegrating products into the economy through various means such as refurbishment and repurposing, Shorepower’s project aims to decrease reliance on new materials and minimize environmental impact. This aligns perfectly with the goals of transitioning to more sustainable energy practices.
CEO’s Vision for Sustainable Charging
Shorepower’s CEO, Jeff Kim, expressed excitement about the potential impacts of this project. He stated that repurposing batteries will not only reduce landfill waste but will also provide cost-efficient energy storage solutions for EV charging in disadvantaged communities. By implementing these systems, Shorepower seeks to minimize the logistical challenges often faced in deploying charging stations while ensuring communities have access to affordable charging options.
Future Prospects and Funding Opportunities
With the backing of the DOE and the innovative nature of the DCFC-BEST, Shorepower is optimistic about the future. Kim mentioned ongoing efforts to secure additional funding, with close to $1.2 million in grant proposals currently outstanding. This funding will enable Shorepower to expand its reach and improve its offerings, ensuring that the company continues to be a leader in electric transportation electrification.
Shorepower operates an extensive network of electrified parking spaces in North America, making it a pivotal player in the fight against climate change and the promotion of electric vehicle adoption. By building a sustainable infrastructure, they aim to contribute to the reduction of emissions from traditional fuel sources and enhance the viability of electric vehicles for all.
Frequently Asked Questions
What is the recent achievement of Shorepower Technologies?
Shorepower Technologies has secured a Phase 1 contract with the U.S. Department of Energy to develop an innovative EV charging system using recycled batteries.
What is the DCFC-BEST technology?
DCFC-BEST stands for DC Fast Charger - Battery Energy Storage Transportable technology, utilizing repurposed EV batteries for energy storage in fast-charging applications.
How will Shorepower work with local communities?
Shorepower plans to collaborate with local communities and college students to develop its DCFC-BEST system to ensure accessibility and affordability of EV charging.
What are the expected benefits of this project?
This project aims to reduce waste from used EV batteries, provide cost-effective charging solutions, and minimize the environmental impact associated with traditional materials.
What is the future vision for Shorepower?
Shorepower aims to secure additional funding and expand its innovative solutions to promote electric vehicle adoption and enhance sustainable energy practices.
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