ChargerQuest has secured $3.1M to launch the expansion of its comprehensive public electric vehicle (EV) charging station network.
The offering was completed on an agency basis led by Foundation Markets Inc. The company, founded by Christopher Misch, a pioneer in Canada’s EV space, and Stuart Browne, a leader in the venture capital space, successfully attracted capital that will be utilized to expand its SMART EV charging network.
They will be building out 36 new Level 3 FAST EV charging stations and over 100 new Level 2 charging stations at prime locations across Canada.
“Our vision is simple: to build the most comprehensive EV charging network in Canada. We are humbled by the response to our company – attracting interest from leading strategic investors from across the nation such as Legion 3 Capital, Quinsam Capital and Leonite Capital.
“Despite the pandemic, CQ persevered and successfully completed our pilot phase in 2020. We are excited about the next phase of business growth which is razor-focused on deploying our charging station assets at some of the very best properties across this great nation and beyond”, said Christopher Misch, Founder and CEO, ChargerQuest Inc.
Roger Dent, CEO of Quinsam Capital said: “Quinsam Capital invested in ChargerQuest because we were attracted to its recurring revenue and green economy business model. We see incredible potential in this company and very interesting growth potential.”