The growing popularity of electric vehicles (EVs) is driving demand for a reliable and efficient public charging infrastructure. Unfortunately, the current state of the EV charging infrastructure is not very advanced, with charging stations that are out of order, software glitches, and vandalism rendering chargers unusable.
To streamline the charging process for EV owners and address the challenges facing the EV industry, C+Charge has raised $3 million so far to develop its sustainable crypto-powered platform.
The Current State of Public EV Charging Infrastructure
The latest data from J.D. Power’s Electric Vehicle Experience Public Charging Study paints a bleak picture of the reliability of American public EV charging, with the number of failed charging attempts growing from 15% in the first quarter of 2021 to more than 21% by the third quarter of 2022.
According to the study, out of all the responders who couldn’t charge their vehicles last year, more than three-quarters said that they couldn’t top-up their batteries because the charger was out of service, with software glitches, payment processing errors, and vandalism being other major reasons for failed charging attempts. Such challenges not only cause inconvenience to EV owners but also discourage the widespread adoption of EVs.
Lately, the US government started taking steps to address these challenges. On March 14, the White House opened applications for a $2.5 billion funding program to expand EV charging and alternative fueling infrastructure in America’s urban and rural communities.
"If you live in an apartment building, if you don't have a garage, if you just want to be able to charge up around town…this is where the government steps in to make sure that everybody has access to this charging." —@SecGranholm announcing $2.5 billion for EV charging grants pic.twitter.com/y5EXPth6Po
— Climate Power (@ClimatePower) March 14, 2023
Major companies such as Walmart, Google, and Amazon have also recognized the gap in the market and the growth potential and started implementing EV charging solutions at their workplaces, offering support to employees who drive electric vehicles.
Additionally, BMW’s announcement of constructing the largest EV charging station in Korea, capable of charging 80 units simultaneously, demonstrates the rapid expansion of the EV industry.
Meanwhile, in the UK, Tesco recently announced they have implemented 600 EV charging stations across their stores throughout the country.
The C+Charge app will help EV drivers find all of these charging stations and more.
We've now installed EV charging points at 600 stores across the UK! Providing 43,000 kWh of energy and saving more than 24,000 tonnes of CO2 since 2019. ️
Read more here: https://t.co/nH5Vf2JDfN pic.twitter.com/9VJipCzkcR
— Tesco News (@tesconews) March 17, 2023
Introducing C+Charge: The Sustainable Crypto Solution
C+Charge’s platform utilizes tamper-proof blockchain technology to ensure greater transaction security and transparency. The app allows easy payment for charging and uses geolocation technology to provide real-time data on charger availability, wait times, and charging costs.
Are your transactions secured with C+Charge?
Payments made with $CCHG #tokens are hash-encrypted using SHA-256
The copies of transaction details are accessible to everyone, however, they can’t be changed
Join our #presale today⬇️https://t.co/ixe18bPqzI#ReFi #Crypto pic.twitter.com/NIL5RKOnGk
— C+Charge (@C_Charge_Token) March 8, 2023
C+Charge is also connecting various companies’ EV chargers to its network, ensuring regular maintenance, and providing users with live location data of key charging stations.
Harnessing the Power of Sustainable Crypto Partnerships
C+Charge’s first partnership came through with Flowcarbon, a sustainable crypto blockchain platform encouraging eco-friendly practices and sustainable technologies. Through this collaboration, EV owners can earn carbon credits in the form of Flowcarbon’s GNT tokens, which can be used to purchase environmentally friendly products and services or exchanged for fiat currency.
C+Charge is also committed to maximizing environmental benefits through strategic partnerships. The company has teamed up with The Recharge to provide sustainable crypto-staking opportunities to its community.
The collaboration focuses on The Recharge’s cross-chain staking program, allowing C+Charge token holders to stake their tokens with carbon credit swaps across the platform. The partnership also grants C+Charge exposure to the electric charging infrastructure in Korea, opening up new market segments for the company to explore.
Towards Greener Charging Solutions
To ensure that the charging stations contribute even more to sustainable energy use, C+Charge has partnered with manufacturers of solar-powered charging “pods,” allowing for off-grid and sustainable charging solutions. While this ideal charging station setup is not yet viable or practical in all settings and is better suited for suburban areas with more space, it represents a significant step towards a greener charging infrastructure.
C+Charge’s CCHG token will be listed on BitMart, the 29th largest exchange globally, on March 31. The project has reached stage 7 of 8 of its presale, raising a total sum of $3 million so far, with 2 weeks left until the presale closes.
Despite EVs currently accounting for only 1% of the 281 million cars on US roads, a remarkable 5% of new car registrations between January and October 2022 were for electric vehicles. S&P Global Mobility predicts that the EV market share will soar to 40 percent of all new vehicles in the US by 2030.
With the growing emphasis on sustainability and the challenges facing the EV industry, C+Charge is primed to make a significant impact through its focus on environmental benefits, streamlining the charging process, rewarding EV drivers, and strategic partnerships.
Investors who support C+Charge now will be backing a project that addresses the immediate needs of the EV community while laying the groundwork for a greener, more sustainable future for generations to come.
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