“Disclaimer: Hazel Henderson is an investor in Envision Solar“
Driving on Sunshine: February 2018 Edition
Breaking records for 2018 and it’s only February
I often say that we punch way above our weight at this company and I think the facts back up that assertion. Multi-year, multi-million-dollar contracts with entities like New York City and the State of California are, at risk of mixing my metaphors, tough nuts to crack but we throw heavyweight knock-out punches even though we continue to have a bantam-weight overhead.
To continue the pugilist’s device; we not only punch above way our weight but this year we have come out of our corner swinging – and hitting the target. Yesterday we announced (unaudited but accurate) revenues of $2 million in January. That’s not only our highest ever monthly revenue result but it’s also higher than all but one or two of our previous full annual results. With record backlog and pipeline we seem well set to continue breaking records this year. The momentum is building and our team, of whom I am very proud, have demonstrated that they can grow and deliver on that momentum.
Last week I was in New York, Washington DC and San Francisco meeting with customers, investors and policymakers. It was a great week. Discussions of large orders for our EV ARC™ product, increased attention from Wall Street and a recognition from policymakers that we are doing the right things and that perhaps our approach should be emphasized and even codified, are becoming commonplace.
It feels different than it did in prior years because it is.
Governor Brown of California, announced ever more ambitious goals for EV adoption and, importantly for us, supporting (charging) infrastructure. 250,000 EV chargers by 2025 and 5,000,000 EVs on California’s roads by 2030. That’s 40,000 chargers a year. To date, California can boast about 16,000 chargers in total after many years of valiant efforts. Clearly, a much faster way needs to lead. It’s equally clear that we have that much faster way with our 8 minute EV ARC™ deployment. We’ve known this for some time but what’s encouraging is that the policymakers are increasingly getting on board with our way of thinking.
Average selling price for an EV ARC™ is $65k. Do the math. And that’s just California. We’re in 12 states and 4 nations already. This is a global opportunity.
By the way, as an EV driver of many years, I firmly believe that the consumer will out-strip Governor Brown’s worthy goals. I had a discussion with one of his senior advisors last week who told me that so do they. Consumers are impatient. They are going to want a lot more infrastructure, a lot faster than any government plan calls for today. Speed will be of the essence. We own the speed market and we just received confirmation that we will be awarded another patent to further secure our leadership there.
$2 million in revenue makes January a great month and it’s a great record.
I can’t wait to smash it.
