Company Description
MODULAR | SCALABLE | UPGRADABLEA vertically Integrated player in EV Charging, Grid and EnergyIndie Power Systems (IPS) is a Texas-based Clean Tech energy firm focused on delivering e-mobility & microgrid infrastructure solutions to the global market. We are utilizing our technology and expertise in energy management, including battery charging and battery management, to develop an advanced Vehicle Charging Station. This Vehicle Charging Station is designed to be the most intelligent and efficient in the industry. We expect to transform the traditional Charging Station into a complete integrated Vehicle Charging System allowing the user to control the level and timing of energy flows between the grid, energy storage, alternative energy, and vehicle charging.INVESTMENT HIGHLIGHTS We are part of a new era in energyTHE OPPORTUNITYThe Electric Vehicle Market is siloed and disconnectedThere is an influx of electric vehicles plugging into a fragile system. Electric Vehicle Charging systems are isolated with one system/process and disconnected which makes it hard to quickly adapt to the growing needs of the market.In markets like the U.S., the number of EVs on the road per charger has grown steadily higher over the last year, so there are fewer chargers for every EV on the road. That effect is even more pronounced in Europe, where EV sales have surged since 2019. In Germany, the ratio went from 8 EVs per public charging point in 2019 to 20 in 2021. (Bloomberg). EV Infrastructure has not kept pace with EV Sales growth causing increased charge and range anxiety and leading to frustration for current and potential owners of EVs.When it comes to EV charging, consumers want environmental benefits, the ability to charge wherever they are, and an experience closer to that of gas station usage. We are focused on two major segments of the EV Charging market: The “On the Go” DC Fast Charger segment and the Fleet operator applications segment in primarily, but not exclusively in the Light Commercial Vehicle space.We do not plan to address the single-dwelling residential charging space. While this is a very large segment, representing perhaps 75% of the global charging market, we believe this segment will be characterized by intense competition, high volume, and low margins. We further believe that other solution providers will be better positioned to address this market. We are interested in more commercial real estate applications such as providing chargers for large condo developments. Key “On the Go” E-Mobility customers will include government agencies at all levels, school districts, charge point operators, convenience stores, and pay-to-park businesses. THE SOLUTIONMulti-Vehicle Charger and Energy Storage IntegrationIndie Power Systems is developing a Multi-Vehicle Charger Designed for EV Fleets and Streamlined Energy Storage Integration. To meet the rapidly growing demand for Clean Tech Solutions; the market will require seamless, repeatable & reliable solutions that can be quickly customized and appropriately scaled to meet customer and community requirements.The Indiecharger™ (EV SuperCharger) is a seamless, reliable & repeatable integrated charging solution. Our customizable and scalable architecture is backstopped by a deep network of commercial, technical, and supply chain partners. Our goal every day is to deliver quality products that exceed customer expectations.IPS’ solution has flexible charging power with managed charging for commercial fleets to minimize operating costs, fast charge capability when operational changes demand, Level 2 and Level 3 charging with energy storage, and fast & ultra-fast charging for Passenger Vehicles.“Fleet” customers will include operators of light, medium, or heavy-duty commercial vehicles including- packages & mail delivery service, repair, and maintenance vans and trucks, and food delivery. OUR PRODUCTS The Indiecharger™(EV SuperCharger) Indie Power Systems has completed preliminary research and design in GaN technology and is developing a new charging station platform that is Microgrid compatible and more efficient than others in the market. We will integrate the EV Charger with its energy optimizing software and hardware to allow alternative energy and energy storage options. We will be able to scale up to commercial markets and down to the individual markets.The new Indie Supercharger can be utilized across a number of customer applications and use cases. These include shopping centers, pay-to-park, and gas stations. luxury hotels and sporting arenas, to name just a few potential fits. Utilizing emerging GaN hardware to increase efficiency and reduce size is part of our future products roadmap.The MicrogridLeveraging common infrastructure solutions developed concurrently with the EV Charging solution package including transformers, medium, and low voltage switchgear power controls, battery energy storage, and renewables - Indie will focus on developing microgrid solutions on a project basis to support diesel offset projects on a global basis.For years, remote communities, and worksites (such as Oil & gas or Mining) have relied on Diesel to provide their essential power requirements. While this is unlikely to end anytime soon, Microgrid solutions can help offset reliance on diesel-generated power, reduce community or project costs and impact the environment in a positive way. Most diesel offset projects start by setting goals of reducing diesel consumption by 25%.In the future, we look forward to expanding to Smart Grid, Energy Storage, and Microgrid solutions.PRODUCT ROADMAPWe're moving towards the commercialization of our solutionBI-DIRECTIONAL NATURE OF ENERGYAn Illustrative ExampleThe traditional electric “grid” was like the river system. It was defined by a one-way flow of energy from the generation of electricity to the end user in their home or business - and like rivers, it all flowed in the same direction.The nature of the electric grid is turning bi-directional. The concept is as simple as Uber’s and Airbnb’s transportation and accommodation as a service model. As more Battery Electric Vehicles (BEV) and Plug-in Hybrid Electric Vehicles (PHEV) hit the road and more homes and businesses adopt solar, wind, and storage solutions, consumers will have energy – stored or spare electrons - that they can “rent” when they are not using them. The flow of energy will become a two-way street! Resources can be optimized to reduce reliance on traditional power generation sources and create a greener and more efficient & resilient energy system!CASE STUDYEV Technology and specifically battery technology has improved dramatically over the past 10 yearsConsumers are choosing to switch to electric vehicles with the cost becoming comparable to non-electric vehicles. EV technology and specifically battery technology have improved dramatically over the past 10 years. While first movers Tesla and Rivian have captured significant market share, more legacy North American automakers such as Ford, GM, and Chrysler, as well as global automakers VW, Nissan, and Toyota, have all committed significant resources to develop EV and EV batteries. Although switching to electric vehicles promotes more sustainability, the batteries from these cars are not currently recyclable. So what can you do when they reach the end of their life?In 2015, Indie Power Systems collaborated with Toyota for the implementation of the Microgrid at Lamar Buffalo Ranch in Yellowstone National Park. Indie Power Systems managed and improved the generation and use of energy between solar energy, battery storage, and propane generators in case of emergencies. The sun was captured and put into the repurposed electric vehicle batteries - a first of its kind. There are over 8 million hybrid vehicles on the road that will need replacement. Imagine the possibilities.THE MARKET OPPORTUNITYIndie is strategically positioned to capitalize on the rapid growth in clean infrastructure technologyThe e-mobility market is growing at a record pace. European countries and China continue to lead the way in EV market share with Norway having 78% of registered cars as EV and a mandate that all cars sold by 2025 should be zero emissions, and China has 21% with a mandate requiring manufacturers to make or import at least 10% electric vehicles.The US and Canada lag behind with a mandate to build a national network of 500,000 charging stations by 2030 in the US and a target for all new light-duty cars and passenger trucks to be zero-emission by 2035 in Canada. There are now almost 20 million passenger EVs on the road globally (2021) and electrification has spread to other segments of road transport with over 1.3 million commercial EVs, including buses, delivery vans, and trucks, and over 280 million electric mopeds, scooters, motorcycles, and three-wheelers on the road globally. Battery technology continues to improve, policy pressure toward ‘net zero’ is rising in many countries, and automakers are ramping up manufacturing of compelling new EV models. (Bloomberg NEF).By 2040, between 340 and 490 million chargers are needed across all locations globally, with the total dominated by home chargers. Chargers outside the home account for between 42 and 59 million chargers by 2040 or about 9% of total charging fleet demand. (Bloomberg NEF). There could be over 700 million passenger EVs on the road and over 750 million electric two- and three-wheelers globally. (McKinsey). A similar growth pattern for the US market is shown below;Key Market Drivers Behind the Shift to EVThere's an emerging theme of a fast-paced transition in the Technology and Automation industries. We're also seeing market evolution through the standardization of hardware and software platforms. In light of the current state of the global environment, consumers now desire vehicles powered by clean, renewable energy in order to reduce their carbon footprint.The inconvenience of finding a charger is offset by the ability to charge at homeEV drivers are ready for charging to be more like the gas station experienceThe true cost of charging away from home is time. “Like watching paint dry”Typical EV adopters are young, above average income, and urban. Suburban and Rural adoption is being held up by the charge and range of anxietiesNetwork-specific apps are the preferred way to find a charger EVs are approximately 3X-5X cheaper to charge/fuel than other vehicles in the market and have 25% lower maintenance costs than internal combustion engine vehicles EVs can last 2.5X longer than internal combustion engine vehiclesEV costs have decreased as battery costs are coming down and performance is increasingGO - TO MARKET PLANCommercial Opportunity for the Indie Charging PlatformWe have the capacity to scale up or down into different markets; however, our initial focus will be on the commercial market.IndiePower System is positioned to be a key player in the convenience store market segment. We are designing a commercialized charger that can be used at convenience stores, allowing them to rethink the current service station model. We will be a gateway for companies to test markets and services in space-challenged locations. There are about 150,274 convenience stores operating in the United States with about 121,538 of them selling motor fuels, which makes up about 80.9%. A partnership with convenience stores is a big market for electric vehicle chargers and components that can be disaggregated and integrated into existing infrastructure and back office Systems.SECONDARY OPPORTUNITYEnergy Management - MicrogridsIndie Power Systems (IPS) is integrating a \