US fast charging network operator EVCS to deliver more

EVCS, one of the largest EV fast charging network operators on the US West Coast, has closed a credit facility with the Commodity and Global Markets group of Macquarie Group enabling EVCS to deliver about 500 more charging stations.

Since 2018, EVCS has built one of the largest EV charging station networks in California, offering a no-cost, turnkey charging station solution to diverse customers ranging from healthcare and hospitality to local governments and multifamily real estate owners.

“We have an aggressive growth strategy and sought to engage a global leader in infrastructure financing to enable us to deploy one of the largest fast-charging networks in the US,” says EVCS co-founder Ian Vishnevsky, adding that with the additional financing EVCS will expand its commercial sites on the West Coast and eventually throughout the US.

Macquarie’s Commodities and Global Markets group executive director Vanessa Lenthall says the support provided through this credit facility is consistent with its long-standing commitment to, and expertise in, both the energy infrastructure and clean energy sectors.

The credit facility will enable EVCS to install its fast-charging stations at more than 500 commercial sites throughout California, Oregon and Washington.

EVCS expanded into Oregon and Washington in Q2 2020 with the acquisition of the West Coast Electric Highway Network and plans to upgrade the network in 2021.

It is also considering potential equity financing opportunities, so investors and interested parties can contact the Investment Banking Division of Jett Capital Advisors which served as financial advisor to EVCS in the transaction.