SQM Lithium Ventures closes first venture investment in EV charging infrastructure company
SQM Lithium Ventures, the corporate venture arm of SQM's lithium business, has announced its first venture investment of $3-million in the Series A round of Electric Era, a Seattle, US-based startup seeking to make electric vehicle (EV) fast charging ubiquitous and affordable.
The company does this through its Power Node system, an artificial intelligence-driven, high-power storage system for EV fast charging stations.
Power Node is said to be a compact, easy-to-install charger, roughly the size of a parking space, that can be installed at convenience stores or other commercial or public sites with demand for EV charging.
Power Node can be deployed anywhere on the grid to provide the necessary charging infrastructure needed for the affordable and timely electrification of transportation, the company highlights.
SQM Lithium Ventures' investment in Electric Era places SQM among the largest investors in the round. Other investors in the round include HSBC and Proeza Ventures.
SQM's investment will enable Electric Era to scale its production, grow its commercial team and expand to locations across the US.
Electric Era, founded in 2019, has a growing team of 14 employees, the majority of whom are engineers focused on product development. Electric Era’s goals call for 10 000 operational Power Node systems across the US by 2030.
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