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Blog - Latest News
charging network

Charging Network Raises $240 Million

November 29, 2018/in In the News/by Gray Leigh

Charging Network Receives Major Funding

Electric vehicle owners routinely complain of a lack of charging stations. Even with Tesla investing billions in its SuperCharger network, EV owners can’t get enough juice. Meanwhile, an easily accessible international charging network is still a few years off.

charging networkIt looks like ChargePoint is set to change that. Recently, it secured another $240 million USD toward its charging network. Consequently, the company’s goal of 250 million charging points by 2025 is achievable. Furthermore, it’s possible they’ll surpass it.

“When mainstream institutional investors start to believe, that’s when you know that it’s not speculative anymore.” -said Pasquale Romano, CEO & President of ChargePoint.

The Transportation Industry Shifts

The company’s Series H funding round is an industry-wide cause for celebration. However, more strain will be placed on charging network infrastructures as automakers pivot toward electric vehicles.

READ: General Motors Goes Electric

Meanwhile, Romano argues that most charging can happen at home.  Nevertheless, charging points should be common on highways for medium-long distance trips. Additionally, city dwellers will heavily rely on public charging networks.

ChargePoint investors include Chevron Technology Ventures, which represents a major shift in the transport sector. Furthermore, this round of funding proves that big money is backing the clean energy shift. Sustainability is no longer exclusively supported by penny stocks.

Lithium Batteries Making Gains

charging networkThis development is great news for advocates of lithium-ion technology. Already in most consumer electronics and all electric vehicles, lithium is usurping oil as the world’s most sought-after resource.

The adoption of charging network infrastructure spurns this change. Meanwhile, a global lithium shortage has encouraged national governments to target the valuable mineral.

Even the Trump administration labeled lithium as a resource central to national economic growth.

It appears there’s no stopping the green machine.

Related Articles

Autonomous Electric Vehicles: A Matter of Time

Chinese Lithium Producer Signs Deal with Tesla

Lithium Powered Planes Incoming

 

Ultra Lithium Inc. A team of clean energy experts with a finger on the pulse of mining news, ULI is a lithium exploration company with holdings in Argentina, Canada and the US (TSX-V: ULI, OTCQB: ULTXF and Frankfurt: QFB).

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LATEST NEWS

  • Ultra Lithium Cuts 1.81 Percent Lithium Oxide Over 10 Meters in Channel Samples at the Forgan Lake Lithium Property Northwestern OntarioMarch 3, 2023 - 10:16 am
  • Ultra Lithium Invites Shareholders and Investment Community to Visit Booth #2353 at PDAC 2023 Toronto, March 5-8, 2023March 2, 2023 - 6:00 am
  • Ultra Lithium Assays Up To 417 PPM Lithium in Drill Hole at the Laguna Verde Brine Lithium Project in ArgentinaFebruary 28, 2023 - 4:30 am
  • Ultra Lithium Intersects 2.68 Percent Lithium Oxide at The Forgan Lake Lithium Property in Northern Ontario, CanadaFebruary 8, 2023 - 5:00 am
  • Ultra Lithium Responds to Government of Canada Critical Minerals AnnouncementNovember 4, 2022 - 4:30 am

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Ultra Resources Inc.
1120 – 789 West Pender St.
Vancouver BC V6C 1H2
Canada

Kiki Smith, CPA, CGA
Chief Financial Officer
E: [email address protected by javascript]
T: +1-778-968-1176

Afzaal Pirzada, M.Sc.(Geo), P.Geo.
Vice President, Exploration
E: [email address protected by javascript]
T: +1-778-558-4940

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