Industry leaders create tailored options for enterprise customers to drive faster adoption of clean energy without upfront capital investment for EV charging
ChargePoint (NYSE: CHPT), a leading electric vehicle (EV) charging network, today announced a partnership with Goldman Sachs Renewable Power (GSRP), a strategic, long-term investor in clean energy projects. Together, ChargePoint and Goldman Sachs Renewable Power are introducing new tailored financing solutions as part of the ChargePoint as a Service® (CPaaS®) product family to reduce upfront costs of EV charging technology for eligible customers.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220328005927/en/
ChargePoint partners with Goldman Sachs Renewable Power to accelerate EV charging deployment (Graphic: Business Wire)
Through this unique partnership, eligible customers can choose the CPaaS option that best fits their needs, which now includes both financed and turnkey charging. The new financed option enables customers to pay for charging infrastructure as an operational expense, and the turnkey option enables customers offering public charging to host a station at zero cost to them. This partnership will enable customers to implement a superior EV charging solution at no capital expense.
Charging for businesses serving drivers
For retail and fueling and convenience applications, ChargePoint is the only network with an integrated portfolio of hardware, cloud-based services and support, delivering the smoothest possible experience for all businesses serving EV drivers. With this partnership, ChargePoint and Goldman Sachs Renewable Power are offering both financed and turnkey options to retailers, including end-to-end construction, installation and maintenance. ChargePoint charging software and driver-facing applications enable site hosts to easily manage EV charging, attract and connect with drivers, and drive in-store purchases via custom branding, promotions and integrations with loyalty programs, even as they enjoy zero capital expense for charging infrastructure.
The move to fleet electrification just got easier
For fleet applications, ChargePoint and Goldman Sachs Renewable Power offer a financed solution that enables fleets to retain control of their utility meter, which includes charging infrastructure and support with construction, installation and maintenance all for a monthly fee. The ChargePoint global fleet solution portfolio includes everything fleets need to electrify and optimize fueling as they grow, including fleet software for dynamic charging optimization to ensure uptime for mission-critical vehicles, fuel cost management, and integrations with telematics and fuel-card partners.
“This partnership with Goldman Sachs Renewable Power reduces the barrier to entry for businesses who have been interested in adopting clean energy but have held back due to lack of tailored financing,” said Pasquale Romano, president and CEO of ChargePoint. “Fleet owners, retailers, fueling and convenience providers, transit operators, and logistics firms, among others, can now participate in the new fueling network without the upfront costs and utilization risk typically associated with EV charging.”
“We are very pleased to partner with ChargePoint to offer comprehensive EV charging solutions to enterprise customers,” said Jon Yoder, head of the Renewable Power Group of Goldman Sachs Asset Management. “The partnership between ChargePoint and GSRP was put together to offer an easier, better way for fleet operators to prepare for conversion of their fleets to electric and for businesses to serve their customers and employees, who increasingly will arrive in EVs.”
These new turnkey options are available as part of the CPaaS product family to eligible customers in North America who want to deploy EV charging across their operations for no capital expense. This is the beginning of a long-term partnership between ChargePoint and Goldman Sachs Renewable Power. Together, ChargePoint and Goldman Sachs Renewable Power are helping remove the barriers to large-scale EV charging adoption and providing an easy way for customers of all kinds to participate in the electric revolution.
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. The ChargePoint cloud-based subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. To date, more than 110 million charging sessions have been delivered, with drivers plugging into the ChargePoint network approximately every two seconds. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s North American or European press offices or Investor Relations.
About Goldman Sachs Renewable Power LLC
Goldman Sachs Renewable Power LLC is a privately held company managed by the Renewable Power Group of Goldman Sachs Asset Management (GSAM). GSRP is the sponsor of more than 850 solar and battery storage projects across 27 U.S. states that collectively have a capacity of more than 2.6 gigawatts of clean, renewable power. GSRP takes a long-term ownership approach to the operations and management of renewable assets and benefits from Goldman Sachs' extensive network of relationships, leading institutional infrastructure and in-house industry knowledge and experience. GSAM is one of the world's leading asset managers with approximately $2.0 trillion in assets under supervision globally as of Dec. 31, 2021.
VP, Capital Markets and Investor Relations
Goldman Sachs Renewable Power