Bullet EV Charging Options, a rising installer of electrical automobile chargers, photo voltaic panels, and battery storage techniques, launched on July 31 to handle three crucial vitality challenges: the shortage of EV chargers, a strained energy grid, and unstable electrical energy charges.

Headquartered in Austin, Texas with greater than 50 full-time workers, the renewable companies firm is open for enterprise first in Texas, Arizona, California, and Colorado with nationwide growth deliberate for 2024. Because it expands, Bullet EV is predicted to generate 1000’s of green-collar jobs nationwide.

The corporate is already on tempo to generate annual income north of $20 million this yr with optimistic money circulation from inception. Its choices — EV charging station, photo voltaic panel, and storage set up, restore, and upkeep — can be found to fleet, business, and residential clients.

A Management Workforce of Specialists

Behind Bullet EV is an skilled management crew: Allen Rezapour, co-founder and former co-CEO of Fox Hire-A-Automotive, Andres Pinter, a former senior member of Ares Administration’s funding crew, and Mark Vogel, an knowledgeable in renewable vitality and former SVP for ADT’s Photo voltaic division.

Rezapour, who was semi-retired after lately promoting Fox to auto rental big Europcar, has supplied Bullet EV with the funding capital required for expedited progress.

Shopper demand and authorities incentives are fueling the necessity for extra EV chargers — each business and residential — throughout the nation, in keeping with firm executives.

Lining Up EV Charging Community

Whereas Bullet EV specializes within the set up of EV charger infrastructure, its companies additionally embody putting in photo voltaic panels and storage techniques, together with ongoing upkeep and restore for every of its choices.

Bullet EV has already partnered with a number of EV charging gear suppliers together with ChargePoint Holdings, Inc. (NYSE: CHPT) as a licensed reseller and installer. ChargePoint is a number one supplier of options for charging EVs from residence and multifamily to office, parking, hospitality, retail, and transport fleets of every type.

The U.S. lacks ample charging infrastructure in place to assist the rising EV market, in keeping with knowledge from S&P International Mobility. To accommodate forecasted EV gross sales demand, the variety of EV chargers must quadruple between now and 2025 — and develop greater than eight-fold by 2030.

“Present and projected demand for EV chargers is the catalyst for the formation of Bullet EV,” mentioned Mark Vogel, chief working officer of Bullet EV Charging Options, in a information launch.

“The variety of new electrical autos offered on this nation has been doubling yearly. There are merely not sufficient chargers to accommodate the EVs that shall be on the street.

“Our firm is addressing the massive image — offering a mixture of EV charging, photo voltaic and battery storage. Think about with the ability to cost your automotive from the facility you generated out of your roof and saved in your individual batteries. The last word purpose is to permit our clients to attain grid independence.”

Many forecasters estimate that as much as half of U.S. new automotive gross sales shall be electrical autos by 2030, mentioned Andres Pinter, Co-CEO of Bullet EV Charging Options.

“With varied authorities and EPA deadlines quick approaching, Bullet EV will get forward of the nation’s EV charger downside,” Pinter mentioned. “The difficulty will not be solely the alarming scarcity of charging infrastructure. The prevailing EV chargers in place aren’t being routinely repaired and maintained.”

Authorities Pushing Demand for EV Chargers

Authorities mandates and incentives are offering tailwinds for the EV charger business.

For instance, by 2027, light-duty authorities autos will have to be emission-free per President Biden’s govt order. By 2035, California’s Superior Clear Vehicles II rule would require all new automotive and light-weight truck gross sales to be zero-emission autos.

The Inflation Discount Act (IRA) tremendously expanded federal tax credit to supply large incentives for the growth of the nation’s EV charging infrastructure. The non-public sector can be digging deep to construct out their very own EV charger networks.

For instance, seven main automakers lately introduced they had been forming a three way partnership to roll out 30,000 EV chargers throughout the U.S. at an estimated price of a number of billion {dollars}.

Whereas the U.S. faces an more and more strained grid, Bullet EV Co-CEO Allen Rezapour famous that electrical autos, mixed with photo voltaic and storage techniques, will help alleviate the stress on the nation’s energy infrastructure.

“Bullet EV focuses on renewables as a holistic, big-picture resolution for owners and business clients,” Rezapour mentioned. “The potential for this market is big.”

Initially posted on Charged Fleet