Climate-tech enterprise, Voltpost, has successfully finalized its seed funding round. This effort was spearheaded by RWE Energy Transition Investments, a branch of the global renewable energy company, RWE. Other investors, including Twynam Funds Management, Exelon Foundation, Good News Ventures, Climate Capital, and several more, also contributed to the round. The funds will go towards commercializing the Voltpost platform and accelerating the implementation of their lamppost EV charging solution.
Why It Matters
In line with its mission to democratize electric vehicle (EV) charging and decrease carbon emissions, Voltpost is pioneering a unique technology in the U.S. By retrofitting lampposts with their patented EV charging solution, the company is providing convenient curbside charging for a wider demographic. This platform significantly reduces charger deployment’s cost, timing, and physical footprint, proving highly beneficial for EV owners residing in multi-unit housing without dedicated parking spaces.
Key Points
- Voltpost’s technology converts regular lampposts into EV chargers, which is a novel solution in the U.S.
- Their mission aligns with the goals set by the Biden-Harris Administration, which anticipates having 30-42 million EVs on the road by 2030.
- The President’s Bipartisan Infrastructure Law allocates $7.5 billion for EV charging, aiming to install 1.2 million public chargers by 2030.
- The demand for public chargers is particularly high in cities due to increased air pollution and lack of private parking.
Bottom Line
As the urgency for carbon emission reduction grows, Voltpost’s innovative solution is poised to make a significant impact. Its participation in the DOT Studio, a collaboration between the NYC Department of Transportation and Newlab, has already led to successful lamppost charging pilots in New York City. Other initiatives include a second pilot at the Detroit Smart Parking Lab in Michigan, and the development of a Voltpost charging project in Chicago. The success of their seed funding round sets the stage for broader deployment of their charging solution across the U.S., marking an important stride in making EV charging access as common as lampposts.
