Why we invested in CHRG Network

Every startup in consideration for investment has to go through a rigorous analysis by our team of veteran investors & advisors. We look into various aspect of the prospective business, key decision factors being the team leading the project, MVP and the overall potential of the idea. CHRG Network has ticked all the boxes — find out why below.

Team

Behind every great idea, there’s a group of individuals responsible for its successful execution — or failure. When choosing where to invest our time and funds, the first aspect we always look into is human resources. The team behind CHRG Network immediately struck us as having different backgrounds that perfectly combine the skills and expertise needed to make it big.

Zilvinas Paliukas (COO & Co-founder) was running the largest high-tech solar cell manufacturer in Northern Europe, SoliTek Cells which generated over $20M turnover. Zilvinas quit his corporate position as the CEO to join CHRG Network because he saw a huge potential in the fast-growing EV market and based on the facts believes it’s a unicorn in the making. Then there’s the CTO, Gintaras Kuzmickas who brought his 10-years experience in IT project development & technical expertise. Finally, the visionary CEO — Rokas Danusevicius, leads the way with his insider view of the EV market nuances as well as his passionate attitude, being an early Tesla adopter.

World-changing idea

It is clear that the future of cars will be electric. However, while the EV market is exploding in growth the charging infrastructure lags behind. There will be over 110M charging stations in the next 7 years, out of which 100M will be for private use only, therefore under-utilized and not monetized.

CHRG Network platform will facilitate the efficient use of the infrastructure by allowing EV charging station owners to connect, share and earn passive income from their charging stations, and providing the drivers an easy way to find, book, and pay for the access. Think AirBnB for charging your electric vehicle.

How big is the market?

According to the International Energy Agency’s research, there will be 228M electric vehicles in 2030 and more than 100% charging market growth each year for the previous and the next 10 years. The charging market value is estimated to reach $100B by 2030. CHRG Network is on the track of perfectly positioning itself to seize that market opportunity and become the leading charging platform provider worldwide.

Existing Deals & Partnerships

CHRG Network already has more than a few agreements in place — meaning business from Day 1.

www.espark.lt/en

One of the key partnerships already in place is with a leading electric shared mobility company Spark. This partnership will establish CHRG network as the main platform for charging stations in three Northern European countries.

CHRG Network is also a member of the Open Charge Alliance, which is de facto protocol in 50 countries and over 10,000 charging stations.

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