What’s Happening: Brooklyn-based electric vehicle (EV) curbside charging company, itselectric, announced that its “Power From the People” city charging initiative received the Innovation Award for Urban Infrastructure at the 24th annual South by Southwest (SXSW) Innovation Awards ceremony on March 13, 2023. The SXSW Innovation Awards recognize groundbreaking creative developments in the connected world each year.
Why It Matters: The United States is on the verge of a significant transition into electric vehicles, and itselectric’s innovative curbside charging solution is crucial to making this shift successful. The company’s urban charging networks offer a scalable, convenient, and affordable solution for EV charging, making clean transportation accessible to all communities, regardless of income level or driveway and garage availability.
Key Points:
- itselectric provides Level 2 curbside charging posts at no cost to cities or property owners.
- The company is the first to manufacture an EV charger in North America featuring a detachable cord provided to every driver.
- itselectric is the only charging network that offers revenue sharing for residential property owners, helping cities reduce capital expenditure and meet carbon reduction targets.
- On March 7, 2023, the company closed a $2.2 million pre-seed round led by Brooklyn Bridge Ventures, with plans to deploy pilot programs in major US cities throughout 2023.
Bottom Line: itselectric’s recognition at the SXSW Innovation Awards highlights the importance of urban charging networks in facilitating the transition to electric vehicles. By providing free curbside charging infrastructure and revenue sharing for residential property owners, itselectric is enabling cities to meet their carbon reduction goals while also making EVs accessible to a wider range of communities. The company’s recent funding will allow them to expand their pilot programs and bring their innovative solution to more cities across the country.
