Hypercharge Networks (NEO: HC, OTC: HCNWF, FRA: PB7) has been on fire lately, and its makes sense why. The company announced 128 EV charging stations at Lark Group Development and another 748 EV Charging stations at significant landmark development in Surrey. News keeps pouring, and investors are happy. 

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EV charging stations sector

By 2028, the market for electric car charging stations will be worth USD $111.90B. In 2020, the worldwide market was worth USD 24.16 billion, while in 2021, it was worth USD 17.59 billion. Global demand for EV charging stations has increased due to the increased usage of EVs. The worldwide demand for electric vehicles (EVs) has recently been growing quickly. However, China and the United States hold the most significant market shares for the same. As there is a growing demand for EVs, the market for electronic charging is also expanding. The installation of the charging stations is partly funded by governments worldwide. For instance, the national policies of China's government have permitted the construction of fast-charging stations. Like China, the US government provides all of its resources to build EV charging stations. Throughout the projected period, the market for level 3 charging stations is anticipated to be stimulated by the government's active assistance.

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Company Overview

Hypercharge Networks Corp. (NEO: HC) (OTCQB: HCNWF) (FSE: PB7) is a leading provider of intelligent electric vehicle (EV) charging solutions that offers turnkey technology to multi-unit residential and commercial buildings, fleet operations, and other rapidly growing sectors. Hypercharge is dedicated to delivering seamless, straightforward charging solutions by providing industry-leading equipment and a strong network of public and private charging stations. This commitment is driven by its mission to accelerate EV adoption and enable the shift towards a carbon-neutral economy.

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The company recently received several contracts. Lark Group of Companies chose Hypercharge to provide 128 level 2 EV chargers to its City Centre 4 development, a new premium office & retail building located in Surrey. The installation is expected to be completed by Q1 2024. Colwin Electrical Group will handle the infrastructure needs and charger installation and will work with Hypercharge to finish the project.

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"We are thrilled to partner with Lark in support of sustainable transportation options for Surrey's rapidly growing Health & Technology District," said Chris Koch, Head of Growth and Partnerships at Hypercharge. "City Centre 4 is perfectly positioned near prominent retail, education, and hospitality facilities, making it a prime spot for Hypercharge charging stations that will be accessible to both the building's tenants and the public."

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This is not just it. The company also has another important contract in the books. Hypercharge will supply up to 748 EV charging stations to PCI Developments. Along with Mott Electric, which will oversee the infrastructure needs and the installation of all chargers, Hypercharge will finish the project.

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"The vision for King George Hub is exceptional and we are delighted to be supporting this groundbreaking strategy to support the future of clean transportation," said Chris Koch, Head of Growth & Partnerships at Hypercharge. "Adding EV charging stations to every stall in the development is a very supportive move that sets a new standard for developments. We are proud to have delivered a plan that is flexible and able to accommodate load sharing to streamline and minimize the infrastructure requirement."

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Share Structure / Financials

The latest financial statements occurred for the period ending December 31, 2022. The company had $5.1M in cash, $7.9M in total assets, and $1.9M in liabilities. 

The company already generates revenues for a total of $1.2M, but the costs of goods sold take a solid chunk of it ($965k). Hypercharge also has high expenses led by consulting and professional fees ($757.7k), employee wages and benefits ($750k), and share-based payments ($506k). For the last quarter, Hypercharge had a net and comprehensive loss of $2.4M.

Regarding the share structure, the founder holds almost 30M shares (subject to a 36-month escrow drip). 2 private placements occurred, one at $0.25 (10.4M shares subject to a year-long voluntary escrow of 20% after 4, 6, 8, 10,12 months upon listing), and a second one at $0.40 (Subject to a voluntary escrow of 50% after 2 months and 50% after 4 months, upon listing), and 10M subscription receipt offering at $0.60.

About the stock price, it literally skyrocketed. For months, HC hovered around $0.40. Within a  week, the stock price an all-time high of $1.90. The hype is so intense that the company had to share a news release in which it stated Hypercharge isn’t aware of “any material, undisclosed information related to the company’s operations and affairs that would account for the recent increase in the market price and level of trading volume of its common shares.”

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Bottom Line

There is real hype around Hypercharge Networks (NEO: HC, OTC: HCNWF, FRA: PB7). The float is tight, the company is flooded with contracts, and investors boost the market cap. The EV trend settled, and let’s not forget that EVs are the future, but they wouldn’t work without EV charging stations. 

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