These Grants follow the receipt of a
PORTLAND,
Shorepower is now pleased to announce that it has received two state grants in
As reported last week, Shorepower also received a grant award in
In addition to bolstering its grant writing capabilities, Shorepower has also added to its engineering staff. Shorepower believes that these additions will enable it to more quickly upgrade and add to its current charging station network.
As more competitively priced electric vehicles come to market, and government incentives continue to foster electrification, the Company believes that it becomes essential to expand the infrastructure to cater to these vehicles. The EPA’s new proposal announcing limits on tailpipe emissions is meant to boost electric vehicle sales 10 fold and is designed to ensure that electric vehicles make up the majority of new US auto sales by 2032. Shorepower believes that this represents yet another significant driver of electric vehicle infrastructure: charging stations. As the percentage of EVs on the roads increases, the number of charging stations will need to increase exponentially in the Company’s view.
CEO and founder of Shorepower,
Kim added, “being public provides us the opportunity to upgrade and expand our footprint organically and through acquisitions. Our initial focus will be on refreshing our product offerings and updating existing locations with charging stations. The successful closing of the merger has allowed us to start hiring critical resources. We anticipate augmenting our already robust grant writing capabilities to capture more than our fair share of Federal funds for the continued build out of our charging station network”
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About Shorepower Technologies
Shorepower is a transportation electrification company that builds, deploys and operates plug-in stations that allow electric vehicles, trucks and refrigerated trailers to conveniently access electric power while parked or staged, resulting in cost savings for fleets and drivers that will offset petroleum fuel consumption, thus significantly reducing associated toxic emissions and greenhouse gases by replacing petroleum fuels with electric power. We currently operate the largest heavy-duty focused network of electrified parking spaces in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," and "will" and variations of such words and similar expressions are intended to identify such forward-looking statements. All statements in this press release pertaining to our expectations relating to this acquisition constitute forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to, the accuracy of our estimates regarding expenses, capital requirements and need for additional financing, our ability to operate our business and generate profits, decline in global financial markets and economic downturn resulting from the coronavirus COVID-19 global pandemic, business interruptions resulting from the coronavirus COVID-19 global pandemic, and general risk factors affecting the restaurant industry, including current economic climate, costs of labor and energy prices
These and other risks, assumptions and uncertainties are described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and in other documents that we file or furnish with the
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