It’s the consumer who makes the final call. That probably best sums up when and how consumers will fully embrace electric vehicles—as the industry continues to offer innovative solutions to meet their needs and entice their adoption. OBE Power Networks is one of a number of EV charging startups seeking to end consumer fear of their vehicle running out of charge before reaching their destination.
Founded in 2017 by Alejandro Burgana and Luis Paul, Miami based OBE Power offers their unique approach of giving consumers convenient and timely access to vehicle charging . Their suite of solutions presented in their Charging-as-a-Service (“EV CaaS”) model focuses on building charging station networks that serve the “fast-growing customer base in the live-work-play-learn ecosystem”.
Consumers who are planning their travel and entertainment trips will have less stress knowing that a charging station is available at the locations they are visiting. Two of OBE Power’s clients, the cruise line Royal Caribbean and property management firm Cushman Wakefield, reflect that market strategy that includes no costs to them as host providers.
To support their expansion OBE Power recently closed a senior secured funding facility from SUSI Energy Efficiency Fund II, managed by SUSI Partners. The firm is a Swiss-based infrastructure investment manager that specializes in sustainable energy infrastructure investments that aligns well with the EV charging startup.
Burgana shares why the financial commitment by SUSI Partners is so timely to their startup.
“With the rapidly expanding adoption of electric passenger and commercial-fleet vehicles across the U.S., as well as the recently announced federal and state EV incentive programs, we are excited to see the validation of our EV CaaS solution through the funding facility with SUSI Partners and look forward to growing our partnership as we expand our offerings to regional and national accounts,” said Burgana.
The company’s addressable market includes municipalities, corporate headquarters, residential buildings, hospitals, and universities. Urban locations have a great need—presenting opportunities to establish long-term exclusive agreements with investment grade hosts. All venues align with OBE Power’s model focusing on the “distributed Live/Work/Play/Learn sustainable lifestyle of retail customers”.
OBE Power is currently ranked as one of the top 15 Charge Point Owners & Operators in the United States. The company foresees 10-fold growth over the next three years based on projected market conditions—with recent funding enabling them to immediately expand their Florida and Texas footprints.
“With this financing, we will be well positioned to continue to help hosts meet the EV charging requirements of their customers and clients by providing a convenient and affordable charging and software solution with an efficient host onboarding and management program,” says Paul.
EV charging solutions addressing consumer fears are well on their way as industry startups compete across the U.S. to take market share by establishing their innovative business models that give consumers greater confidence to purchase electric vehicles.
