Dive Brief:
- FreeWire Technologies on Thursday unveiled its Accelerate Program, aimed at making it easier for c-stores to install electric vehicle charging infrastructure on their sites, according to a press release.
- Under this program, the EV charging technology company will handle permitting, sight design and installation of the chargers, as well as paying maintenance and electricity fees. The site then gets a share of any charging revenue that’s generated
- Chevron is one of the first companies to take part in this program, which enables convenience retailers to take a chance on EV charging without shouldering large up-front costs and lengthy bureaucratic processes.
Dive Insight:
While the hype around EV charging is slowing down for c-stores, experts say companies still need to have a plan for it. With many retailers still concerned about the economics of offering charging and whether they can turn a profit, the option to let FreeWire handle the startup costs could make it easier for retailers to experiment.
"We are investing our capital to promote our customers' businesses enabling them to market an EV offering under their brand with zero upfront costs. This is an unparalleled opportunity for businesses to leverage the growing need for this amenity,” said Arcady Sosinov, FreeWire founder and CCO.
The companies that sign up “receive a revenue share from charging sessions and are protected by a guaranteed minimum payment leasing parking spots, turning lot space into a revenue stream and customer amenity,” according to the release.
FreeWire is not the only EV charging company to operate in this way. For example, companies can have Tesla build Superchargers on their site as well as handle all the permitting, construction and running of the machines.
With FreeWire companies can also choose to purchase the charging station after five years, if the location proves profitable. The charger can be branded under the c-store’s banner, the retailer will get access to data on charger usage and customer behavior, and the charger’s 24-inch screen gives retailers a chance to advertise directly to EV customers and offer specialized promotions. With the longer dwell times of EV customers, this can be an opportunity to highlight amenities like fresh food.
Freewire also has an AI tool that can help determine if a site is a good candidate for charging infrastructure.
FreeWire chargers are already in use in a number of c-stores, including some owned by Parkland and one location run by Duck Thru.
