Jul 16, 2019

$44M for EV charging player will expand access

Ben Geman

Illustration: Lazaro Gamio/Axios

Volta Charging, which provides free electric vehicle charging stations supported by advertising, said Tuesday that the investment firm Energy Impact Partners is providing a $44 million loan to support expansion of the network.

Why it matters: Expansion of charging is one of the keys to expanding EV market penetration. More charging availability helps give consumers confidence in the technology, which now accounts for just a tiny slice of U.S. vehicle sales.

Background: San Francisco-based Volta was founded in 2010 and says it's now the nation's largest free charging network, with over 700 stations in 10 states. Retail partners include Whole Foods and Macy's.

What they're saying: “Volta creates opportunities for brands to connect with their audience, while reducing ‘range anxiety’ and fitting an unmet need for EV drivers—free of charge," Energy Impact Partners managing partner Harry Giovani said in a statement.

Separately, another business note on emerging tech comes via Greentech Media, which writes...

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Kia Kokalitcheva

BP teams up with China's Didi Chuxing on electric vehicle charging

Photo: Didi Chuxing/BP

BP and ride-hailing giant Didi Chuxing are partnering on a joint venture to deploy a network of electric vehicle charging stations in China.

Why it matters: The move signals a major expansion of BP’s increasing investments in the electric vehicle charging space, says Axios' Ben Geman. China is the world’s largest EV market, and the partnership's aim to "quickly" become the nation’s leading charging provider is ambitious.

Go deeper: BP moves into China's electric vehicle charging market

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Growing opposition to natural gas pipelines hasn't hurt federal approvals

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Driving the news: The chart above, via the Federal Energy Regulatory Commission, shows annual approvals of natural gas pipeline capacity over the past couple of decades. These approvals ebb and flow with fuel prices and other cyclical parts of the energy business.

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