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Chevron’s VC arm invests in EV charging startup Electric Era



Rendering of an Electric Era fast-charging station. (Electric Era Image)

Electric vehicle charging startup Electric Era announced today that Chevron Technology Ventures, the petroleum giant’s venture arm, has invested in and closed its $13 million Series A round. HSBC Asset Management, a London-based international firm, led the round with participation from SQM Lithium Ventures, Blackhorn Ventures and Proeza Ventures.

  • Seattle-based Electric Era has received $20.5 million in funding to date.
  • Its approach to fast charging incorporates batteries in order to mitigate demand on the grid and help businesses offering the charging services avoid higher power prices during times of peak energy use.
  • The startup’s first commercial installations of its fast charging stations are scheduled to go online this fall in the Portland, Ore., metro area at a Plaid Pantry and a Space Age Fuels outlet.
  • Quincy Lee, CEO and co-founder of Electric Era, previously worked at SpaceX, Elon Musk’s rocket and spacecraft company.

Source: Geek Wire

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