HEVO

Wireless EV charging: certified hardware + software commercially available today

Summary

HEVO's wireless charging technology meets the universal safety and performance standards for wireless EV charging developed by UL and the Society of Automotive Engineering (SAE). As a first-mover introducing a commercial-ready wireless EV charging platform featuring seamlessly integrated hardware and software, HEVO is well-positioned to dominate the rapidly expanding EV charging marketplace. This is evidenced by (1) a significant, recent investment from Obsidian Investment Partners; (2) a robust business development pipeline including multiple RFQs from major auto OEMs and Tier 1 auto suppliers; and (3) HEVO’s selection as the exclusive commercialization partner for DOE-funded wireless charging technologies developed by Oak Ridge National Labs. HEVO’s charging platform is designed to support the mass scaling and adoption of electric and autonomous vehicles by creating an exceptional user experience for drivers and fleets.

Wireless EV charging system meeting UL and SAE standards
Tier 1 agreement paves way for software installation on thousands of EVs
Robust IP portfolio featuring 21 patent families
Successful pilots with major global auto and energy companies
Efficient cost structure, significantly below all competitors
Revenue projected to exceed $500M by 2026

Problem

Plugin EV charging has critical limitations

Competing connectors

Plugin charging lacks a universal protocol, with many charging locations requiring more than three different connector types.

Fueling cost

Pay-as-you-go chargers are often expensive, with opaque pricing structures; free charging is typically slow and over-utilized.

Fragmented networks

There is limited interoperability between networks, requiring multiple accounts, apps, keycards, & RFID fobs to access and pay.

Limited scalability

Plug-in charging does not easily scale with forecast global EV adoption, and is not suited for autonomous EVs.

Solution

A wireless EV

charging network

HEVO is building the global wireless charging standard for electric vehicles—providing users with a simple charging experience and a complete, integrated EV transportation app.

Exceptional convenience

Designed for scale

Highly cost-efficient

In short, our wireless charging standard will enable us to create a durable, scalable network that supports widespread EV and autonomous vehicle adoption.

Product

A complete hardware and software solution

IDEOS

HEVO’s core product is a hardware and software solution for electric vehicle charging called Rezonant E8. It’s comprised of four main components:

Power station—wall- or pole-mounted with the option to offer integrated wireless and plugin Level 2 charging (Level 2 charging stations plug into a 240V outlet--like a clothes dryer or oven--and deliver more power to the car to charge it faster).
Vehicle assembly (Wireless Battery Adapter and Wireless Vehicle Pad)—can be installed on any EV
Wireless power pad—mounted onto or embedded into the ground
App and cloud platform—synchronizes parking alignment, bill pay, charging analytics, and other key user services

HEVO's software product for end users also works like a replacement for Maps and Waze, and includes route planning, pricing, reservations, and other travel features. This integrated approach allows us to build our user base and community, acting as a lead generation tool.

A seamless user experience

10 key tech features

Traction

Significant traction with OEM manufacturers

and Tier 1 suppliers

—

Completed pilots

The company has completed several pilot projects with leading multinational companies. They have either executed or are finalizing formal agreements with global automakers and Tier I auto industry suppliers—creating a potential path for the Company’s platform to become the industry standard for hundreds of thousands of EVs.

Manufacturing and shipment of the company’s commercial product commenced in 2021, and management is preparing to scale production beginning in 2022. Company revenue projections exceed $500M by 2026.

Technology timeline

Financial overview

HEVO is on path for accelerated revenue and EBITDA generation through its unique business model and state-of-the-art products.

Income statement

Customers

Addressing an unmet need in the EV charging market

The pathway to mass adoption of EVs and the accompanying significant reduction in CO2 emissions is a simple, frictionless EV driver experience.

Fleets

Fleets represent a significant near-term opportunity for the company. HEVO is actively engaging with taxi, delivery, public transportation, rental and other fleets for the aftermarket retrofit of vehicle assemblies and deployment of wireless charging stations.

Certified Partners

Our certified partners are the installers of EV charging infrastructure for charging networks in the US, EU and Australia. Certified partners purchase EV wireless charging systems from HEVO wholesale, and then sell those systems retail to their customers. Please see the business model section for additional information.

Automakers

HEVO is in the RFI/RFP process with multiple global automotive OEMs and Tier 1 automotive suppliers. HEVO's goal is to nurture these relationships and pave the way for HEVO's wireless charging vehicle-side equipment to be factory built into multiple EV makes and models.

E-Commerce

Working with dealership networks, HEVO will eventually offer an aftermarket retrofit solution to any EV driver that wants to go wireless.

Business model

OEM lease and subscription recurring revenue opportunity

B2B Model for Fleets and Customers

While EV drivers and fleets are the ultimate end-users of HEVO products, our direct customers are our certified distributors and Automotive OEMs.

HEVO is partnering with leading OEMs to develop a unique leasing program that will enable EV buyers to lease HEVO equipment directly from the manufacturer with no upfront costs.