This article is also available in Italian / Questo articolo è disponibile anche in italiano
Founded in 2022 by Tiya Gordon and Nathan King, it's electric is a startup that aims to make electric vehicle charging in urban areas available to everyone, especially in more deprived areas.
The uptake of electric vehicles in cities, for residents without access to private garages or dedicated charging spaces, depends on street parking. By collaborating with urban property owners, it's electric installs on-street charging stations that use excess electric power from buildings. "The idea is very simple," says Gordon, the company's co-founder and chief operating officer. "Buildings in cities have a lot of energy that's ready to use, which can be deployed to power public charging stations. If a library, a house, or a commercial building agrees to supply power to a charging point, we share the earnings with them, offering a passive income as an incentive."
The Brooklyn-based company, which already operates in several US cities, including Boston, Los Angeles, Detroit, and San Francisco, handles the installation, which takes just two days, as well as the maintenance of the charging stations, ensuring that building owners do not need to bear any extra costs. The business model of it's electric is based on partnerships with property owners and collaboration with local authorities to reach carbon emissions reduction targets. Furthermore, the company offers customers removable charging cables for space, aesthetic reasons, and vandalism prevention.
In July 2024, it's electric announced a 6.5 million dollar seed funding round, bringing the total it has raised to 11.8 million dollars.
Web Site:
Name:
it’s electric
Sector:
Electric vehicle battery charging
Pros:
Cost-free installation and maintenance for building owners and cities
Features:
Metered charging stations to make use of excess energy from buildings
Cover: it’s electric