ChargerQuest has secured $3.1M to launch the expansion of its comprehensive public electric vehicle (EV) charging station network. The company, founded by Christopher Misch, a pioneer in Canada’s EV space, and Stuart Browne, a leader in the venture capital space, have successfully attracted strategic capital that will be utilized to expand its SMART EV charging network by building out 36 new levels 3 FAST EV charging stations, as well as deploying over 100 new level 2 charging stations at prime locations principally located throughout Ontario and across western Canada.
“Our vision is simple: to build the most comprehensive EV charging network in Canada. We are humbled by the incredible response to our company – attracting interest from leading strategic investors from across the nation, including Legion 3 Capital, Quinsam Capital and Leonite Capital. Despite the pandemic, CQ persevered and successfully completed our pilot phase in 2020. We are excited about the next phase of business growth which is razor-focused on deploying our charging station assets at some of the very best properties across this great nation and beyond” – Christopher Misch, Founder and CEO, ChargerQuest Inc.
Roger Dent, CEO of Quinsam Capital said: “Quinsam Capital invested in ChargerQuest because we were attracted to its recurring revenue , and green economy business model. We see incredible potential in this company and very interesting growth potential.”
ChargerQuest plans to raise additional capital to expand and grow its EV charging network to over 700 EV charging stations over the next 2 years – focusing predominantly on secondary and tertiary markets where EV infrastructure is weak and range anxiety hinders EV adoption and travel. The company plans to initiate its first L3 FAST charging hub in Kelowna BC.