It’s no secret that the transportation industry will experience a massive shift from gas-powered cars to green power the battery-electric vehicles over the next decade, as more and more efficient and affordable EVs come into the market, owing to the meteoric rise in popularity of electric car firms such as Tesla and federal as well as state green initiatives. The availability of affordable and efficient EV charging, that now offers limited options, will be the most major hurdle to mainstream EV adoption.
Loop Inc., a Los Angeles-centered EV charging company, aims to solve this challenge by providing turnkey and cost-effective EV charging solutions that make owning an EV charging network an easy and rewarding engagement for building owners.
“The rise of clean energy electric cars at scale will be significantly limited without appropriate charging infrastructure,” stated Chief Executive Officer of the Loop Inc, Dustin Cavanaugh. “At Loop, we seek to meet the demands of property owners by delivering cheap charging solutions that enable and incentivize these businesses to provide electric vehicle charging as a utility to their tenants, employees, and customers.”
Despite Loop’s turnkey as well as cost-effective charging alternatives, not every property owner has the financial resources to pay for the adjustments up front. Loop has devised a method to provide electric vehicle charging choices to any business, irrespective of size or even the budget.
“Through the Loop-as-a-Service financing initiative, we are offering businesses with a path to implement Electric Vehicle charging stations at their properties for $0 down, $0 out of pocket, and pay off the upgrades over time using a portion of the approximated monthly revenue derived by the charging stations,” stated Zack Martin, who serves as the Loop’s CFO as well as the 2021 Startup CFO of the Year of Los Angeles Business Journal. “With this scheme, a property owner may start reaping the benefits of owning and maintaining an Electric Vehicle charging station network right away, and be cash flow positive from the start.”
By removing these impediments to entry for the property owners, Loop intends to educate and allow businesses to turn their parking lots into profit centers. “The retail gas station sector in the United States is a $500 billion annual market controlled by only a few important players,” Cavanaugh added. “With electric cars, we have a generational chance to democratize the supply of energy required to recharge a vehicle by placing it in the hands of everyday small companies and property owners. Our mission is to assist businesses in achieving the social, environmental, and financial benefits of owning and maintaining an electric vehicle charging network, all while ushering in a new age of clean transportation.”