It has been an exciting quarter for electric vehicles! Many new vehicle announcements, large fleets taking steps towards going electric, and cities unveiling both electric transportation goals and infrastructure plans. Also, quite a fast-paced quarter for the Repower Group team.
On the professional side, our offer has begun to hit stride and, year to date, has helped to facilitate commitments of over $150MM of capital to the EV ecosystem. [Spoiler alert - press release from a newly announced project below].
On the personal side, we had our 2nd team baby (well, John had his second daughter – Elena), Ben proposed to his now fiance - Amy, and Ethan survived his first New York City winter.
Read on below for a brief look into what we’ve been up to during Q1, and what we’re focused on in Q2 to further enable efficient, software driven access to the capital markets for the electric vehicle ecosystem.
For more detail – you know where to find us!
Ethan, John and Ben
Repower Analytics Applied
With hundreds of billions of dollars being poured into electric vehicle programs by global automobile manufacturers, there is a burgeoning need for infrastructure to support charging. Read any report on it and you’ll quickly see that over $100B of investment in charging & energy services is needed to build that infrastructure in support of electric vehicle use (EV) in the US alone.
Due to the lack of data available to assess the risk of the EV market and its infrastructure as an asset class, adequate financing does not currently exist to meet this infrastructure need. Many fear that this will cause an ‘infrastructure gap’ poses a threat to electric vehicle adoption.
At Repower Group HQ, we spend our time brainstorming about how to close this gap. Today we’ll share with you a bit about how our approach is maturing and give you a preview into how and where it’s being deployed.
So far, our product offer has two primary components:
Repower Analytics: our SaaS based analytics suite, nicknamed Qlarity, designed to 1) assess EV project intrinsic value 2) counter party credit risk and asset recovery and 3) enable credit decisions and portfolio construction
Capital access through Repower Analytics: we attach financing mechanisms, optimized for each Repower Group customer, that enable our customers to directly access project level capital
Bespoke Capital Access: for large opportunities Repower Group works directly with companies and our financing partners to structure and deploy capital solutions fit for the needs of the business models that support the EV ecosystem
By integrating these components into a platform, we can greatly reduce project complexity, enable capital access for EV infrastructure projects, and make it compelling to leverage renewable energy as the source of power for vehicle charging. Renewable energy (i.e. solar) is both the most affordable way to keep a fleet of EVs charged, and much lower emission than sourcing power from the mix of generation that powers our electrical grid today. In the US, that’s still close to 60% from fossil fuels.
On the front end, our product is a simple, intuitive tool for partners. On the back end, it leverages our analytics models to make determinations about project eligibility and financing facility compliance.
The results of our platform based, metrics driven approach are twofold:
For the end buyer, Repower Group customers are able to offer products to their customer (the fleet operator) “as-a-Service” as opposed to needing to make large capital purchases to use new vehicle technologies
The ultimate result is a shared language between financiers and infrastructure vendors.
This allows Repower Group to (pun intended) plug the electric vehicle ecosystem into the capital markets, and in turn, do our part to help solve the infrastructure gap.
Repower Group has started strong, helping facilitate commitments of over $150M of capital to the EV ecosystem year to date. Each project leverages Repower Group’s analytic capabilities and deep understanding of the space in its own unique way and we look forward to releasing more details as projects become public. One that we can talk about is listed below.
It’s hard to predict the future, but one thing is for sure – the transportation and energy markets are colliding in a brand-new way. We're simply at the beginning of where this market is going and the capital need to get it there. It’s going to take flexible products to facilitate growth of new business models… especially as pressure continues to mount on ensuring that infrastructure is reliable, efficient, and clean to support transportation’s future.
At Repower Group, we strive to be that partner for the market. We look for that quality in our customers’ offers and in the people that we look for to join the team. It must be a part of all of our DNA if we’re going to collectively give the market what it needs to thrive.
The EV ecosystem sits at the cross section of transportation and energy. Repower Group's offer supports stakeholders in each of those markets with access to capital. As such, we worked with Cyrus Capital on their deal with The Wunder Company, a Colorado based solar marketplace lender. As a part of the transaction, John has joined the Wunder board.
We’re building an industry advisory board – quickly, but carefully. We’re looking for leaders in fleet operations to keep us honest about the practicality of solutions as we expand our analytics tools and work with a greater number of partners. If you’re interested, reach out to firstname.lastname@example.org
WE'RE HIRING. If you're passionate about electrification, shared mobility, sustainability, and building a better future - we'd love to meet you! Open Positions will be listed here when we find the time to stop and appreciate the scenery. The key ones are: data science, front end development, business ops and distributed energy specialist(s).
Stay plugged in for updates in Q2 – if history repeats itself, we expect the next few months to fly by.