Surpassed 5,000 ports sold and nears 25,000 registered app users total across North America since commencing operations
Delivered and recognized revenue of 76 DC fast charging ports for a Western Canadian fleet
Announces upcoming fiscal Q3 earnings release date and changes to the Board of Directors
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2025) - Hypercharge Networks Corp.(TSXV: HC) (OTCQB: HCNWF) (FSE: PB7) (the "Company" or "Hypercharge"), a leading, smart electric vehicle (EV) charging solutions provider and network operator, is pleased to provide a corporate update regarding milestone achievements in booked sales and registered app users, delivery of DC fast charging stations to a Western Canadian energy infrastructure provider, the release date of the Company's fiscal Q3 earnings, and changes to its Board of Directors.
Over 5,000 Ports Sold Across North America
The Company is pleased to announce that it has surpassed 5,000 charging ports sold across Canada and the United States, an increase of over 78% compared to the three months ended December 31, 2023, reinforcing Hypercharge's continued momentum in deploying charging infrastructure to meet the growing demand for EV adoption.
The Company also nears 25,000 mobile app users, an increase of over 160% compared to the three months ended December 31, 2023. As of February 6, 2025, over 24,600 users have registered for the Hypercharge mobile app, which connects them to both the Hypercharge Network and roaming partners. Hypercharge users now collectively charge more than 750,000 minutes each week.
Delivery of 76 Fleet DC Fast Charging Ports for Energy Infrastructure Provider
The Company is pleased to announce it has completed delivery from its sales backlog and recognized as revenue a total of 76 DC fast charging ports to a Western Canadian energy infrastructure provider for use by their operational fleet.
The DC fast charging ports delivered are from the previous announcements of 58 fleet DC fast charging ports announced on September 5, 2024, and 18 fleet DC fast charging ports announced on August 1, 2024.
Fiscal Q3 Earnings Release Date
The Company will provide additional insights into its performance, market outlook, and strategy in the release of the Company's financial statements and interim MD&A for the fiscal third quarter ended December 31, 2024, anticipated to be filed on SEDAR+ and made available on the Company's website before or on March 3, 2025.
Changes to Board of Directors
The Company announces today that Vitaly Golomb will be stepping down from the Company's Board of Directors, effective February 7, 2025.
"On behalf of Hypercharge, I want to sincerely thank Vitaly for his contributions over the past two and a half years," said David Bibby, President and CEO of Hypercharge. "His deep industry expertise and strategic insights, particularly in future mobility and energy transition, have helped shape our direction."
The Board of Directors and the Company's senior leadership team would like to thank Vitaly for his valuable contributions to Hypercharge and wish him well with his future endeavours.
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About Hypercharge
Hypercharge Networks Corp. (TSXV: HC) (OTCQB: HCNWF) (FSE: PB7) is a leading provider of smart electric vehicle (EV) charging solutions for residential and commercial buildings, fleet operations, and other rapidly growing sectors. Driven by its mission to accelerate EV adoption and enable the shift towards a carbon neutral economy, Hypercharge is committed to offering seamless, simple solutions including industry-leading hardware, innovative and integrated software, and comprehensive services, backed by a robust network of public and private charging stations. Learn more: https://hypercharge.com/.
On behalf of the Company, Hypercharge Networks Corp.
The preliminary financial information, including, without limitation, related to recognized revenue, are based on an initial review of the results of the Company's operations for the three months ended December 31, 2024, and are subject to change. This information is preliminary and inherently uncertain due to a number of factors, and remain subject to the Company's management's and audit committee's reviews and the completion of regular financial closing and review procedures for the fiscal period. The Company's auditor has not audited, reviewed or performed any procedures with respect to the preliminary information and accordingly does not express an opinion or any other form of assurance with respect thereto. These financial estimates should not be viewed as a substitute for financial statements prepared in accordance with generally accepted accounting principles and are not necessarily indicative of the Company's results for any future period. Additional adjustments to the preliminary information presented above may be identified, and final results for the relevant fiscal periods may differ materially from those provided herein and will not be finalized until after the Company completes its normal quarter-end accounting procedures. These financial estimates are intended to provide information about management's current expectations regarding certain aspect of the Company's financial performance. Reliance on the information presented herein may not be appropriate for other purposes.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "could", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions which are intended to identify forward-looking statements. Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.
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