FreeWire Technologies has introduced a groundbreaking Accelerate Program aimed at accelerating the adoption of EV charging infrastructure. The program offers businesses a unique opportunity to have FreeWire’s EV charger technology installed and managed at no cost, with FreeWire profiting from the charging sessions.
This innovative approach marks a shift in FreeWire’s business model, which traditionally involved selling its charging technology directly to businesses. The Accelerate Program, however, allows businesses to have custom-branded FreeWire chargers installed with zero upfront costs. FreeWire then owns and operates the equipment, providing businesses with a share of the charging session revenues and a guaranteed minimum payment for leasing parking spots to the charger company.
Chevron is the first company to sign up for the Accelerate Program, highlighting the appeal of FreeWire’s offering. Participating businesses will also have the option to fully own the charging stations after five years of operation.
FreeWire’s founder and Chief Commercial Officer, Arcady Sosinov, emphasized the company’s commitment to promoting EV adoption through innovative business models. He stated:
“The Accelerate Program demonstrates our conviction in the improving economics of EV charging. We are investing our capital to promote our customers’ businesses enabling them to market an EV offering under their brand with zero upfront costs. This is an unparalleled opportunity for businesses to leverage the growing need for this amenity.”
In addition to the Accelerate Program, FreeWire will continue to offer businesses the option to purchase its chargers outright for a larger portion of revenue from charging sessions. This multi-faceted approach aims to accelerate the expansion of EV charging infrastructure to meet the increasing demand for EVs.
