Shorepower Technologies’ Three State Grant Wins Aggregate To In Excess of $1m in Project Values

Tuesday, May 21, 2024 at 3:16pm UTC

Company begins to Formalize Board of Directors

PORTLAND, May 21, 2024 (GLOBE NEWSWIRE) -- With the recent grant awards from the State of Washington, Shorepower Technologies, Inc. (SPEV) (“Shorepower”) now has cumulative wins (Washington, New Hampshire and California) aggregated in excess of $1 million in project values, including cost-share and host-site contributions.

“With awards in New Hampshire, California and now Washington, we have demonstrated the strength of our grant writing capabilities. Importantly, every new win bolsters the value of our network, we are now over 1800 connection points and growing,” CEO Jeff Kim. “We remain very excited about our early success in the State Grant marketplace and anticipate these three wins are only the very tip of the iceberg.”

Additionally, the company has begun the process of targeting and formalizing their Board of Directors. The candidates all have robust experience in the transportation electrification industry and are viewed as thought leaders. In the weeks ahead, Shorepower Technologies will detail the appointment of these individuals.

Furthermore, the company is committed to building out its charging network to achieve critical scale. As such, as a compliment to building out the network, the company will evaluate the potential of acquiring assets as they become available.

Shorepower remains focused on building out their Interstate strategy. Charging stations are most needed where urban infrastructure is limited. Therefore, the company continues to develop relationships with travel centers and rest stop operators to provide essential charging infrastructure services.

Investor Relations Contact:

Inflection Partners,

About Shorepower Technologies

Shorepower is a transportation electrification company that builds, deploys and operates plug-in stations that allow electric vehicles, trucks and refrigerated trailers to conveniently access electric power while parked or staged, resulting in cost savings for fleets and drivers that will offset petroleum fuel consumption, thus significantly reducing associated toxic emissions and greenhouse gases by replacing petroleum fuels with electric power. We currently operate the largest heavy-duty focused network of electrified parking spaces in North America. This network includes 60 facilities conveniently located at travel centers with approximately 1,800 electrified parking spaces. Most of these facilities are focused on truck stop electrification (TSE) and electric standby transport refrigeration units (eTRU), but several sites already include electric vehicle charging stations which will continue to grow.

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