Climate and Clean Tech | August 29, 2023

Electric Era raises $11.5 million for high-speed EV charging at convenience stores

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, August 29 — The shortage of conveniently located and reliable public charging stations is limiting the adoption of electric vehicles in the US. Many public EV chargers are slow and unreliable and can put a major strain on the electric grid. 

Seattle-based Electric Era Technologies has raised $11.5 million to target these key challenges of adoption with PowerNode. Electric Era’s fast-charging system has a battery buffer, “to bring fast, reliable and affordable charging to retail locations where drivers are already used to stopping,” said Electric Era’s Quincy Lee. The convenience stores of Plaid Pantry, a chain in Oregon, will next month become the first commercial sites for the PowerNodes.

Green infrastructure

Electric Era aims to install more than 10,000 charging stations at US convenience stores by 2030. Each charging station will deliver a 100-mile charge in less than 10 minutes, according to Electric Era, and can charge more than 100 vehicles daily.

HBSC Asset Management led the Series A round, with participation from SQM Lithium Ventures, Proeza Ventures and a climate tech fund managed by Blackhorn Ventures. The round brings Electric Era’s total raised to $19 million since 2019.