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ChargeNet, a software platform startup that integrates EV fast chargers, energy storage, and solar power with a payment system has raised $6.2 million in seed funding.
ChargeNet is currently developing fast, solar-powered EV charging stations located in quick-serve restaurant parking lots, with its first location set to open at a Taco Bell in South San Francisco later this month.
The company reckons that its chargers will allow customers to get almost 100 miles of power in 15 minutes or less for around $10.
The $6.2 million funding will be used to start building ChargeNet’s solar-powered charging stations, as well as hiring employees and funding the company’s growth strategy.
“EV drivers need fast charging as part of their daily routine,” says Brendan Bell, COO of Aligned Climate Capital, the company that led the funding round.
“More than five million people eat at Taco Bell restaurants across the country every day. ChargeNet brings fast charging to these drivers, and clean energy to the restaurants.”
Restaurant owners are also set to benefit from ChargeNet’s activity. By integrating solar and energy storage, ChargeNet reckons it can reduce utility costs and increase renewable energy storage. More than 70 Taco Bell sites are set to add ChargeNet services in the coming months, with six stations per restaurant parking lot.
ChargeNet was co-founded by a trio of former engineers. Tosh Dutt, who serves as CEO, has an engineering background and is a subject matter expert in distributed energy resources and senior management.
His fellow co-founders are COO Venus Jenkins, a chemical engineer with experience at San Onofre Nuclear Generating Station, an MBA from MIT and a woman who led the largest fibre infrastructure deployment project in Orange County, CA. and Rebecca Wolkoff, CTO, who holds degrees in both electrical and mechanical engineering, worked on Tesla’s electric car production and is an expert in energy storage optimization.
Destination charging is becoming big business, with companies such as Audi creating sites around Germany to help customers charge on the go without becoming too much of a hindrance.