Periodic Reporting for period 1 - e-port (Drive your Electric Vehicle with the Power of the sun)
Periodo di rendicontazione: 2020-01-01 al 2020-04-30
Share of Electric Vehicles on total mobility will grow up to 14% by 2030 thus significant investments needs to be undertaken in EV charging infrastructure. Unfortunately, these new charging points mostly only use power from the grid which requires expensive capacity expansions in the distribution grid operator network. We have determined that we can put a disruptive product into the EV field by combining advanced EV charging technology with solar PV cells. We developed and patented E-PORT, a fully integrated EV solar carport. E-PORT is a modular system that can be installed anywhere to eliminate engineering efforts and industrialize its production, decreasing assembly cost by 80%. Moreover, we offer a plug & play system, massively reducing installation time from 10 days down to 1 and energy cost by 25%.
We define a technical roadmap for E-PORT detailing the features to be improved/developed, timing, budget and eventual measures to reduce development costs. This also covers technical feasibility assessment of new features based on the market needs, preliminary plan fort production scale up and the required developments of our technology to deliver the first commercial E-PORT. We perform an analysis of the market of charging infrastructure within the global electric vehicle market including trends, barriers, segmentation, and identify visible opportunities for E-PORT. Electric Vehicles market was valued at $162.34 billion in 2019, and is projected to reach $802.81 billion by 2027, registering a CAGR of 22.6%. The electric vehicle charging stations market will experience even faster growth and is projected to reach USD 27.7 billion by 2027 from an estimated USD 2.5 billion in 2019, at a CAGR of 34.7%. We analyze our competitors and perform a detailed patent search that confirmed our freedom to operate. Based on these, we refine our commercial strategy including our network of collaborators, our sales channels & revenue streams, exploitation, escalation strategies and conclude with our marketing & dissemination activities.
There is an urgent need for the installation of thousands of charging points in Europe to cope with the power demand of an increasing number of electric cars. This power demand needs to have a growing contribution from renewables in order to achieve a true decarbonisation of mobility. Our goal is to achieve installation of over 3000 E-PORTs by 2027. This will provide a greener & more energy efficient charging alternative with less harmful emissions. Moreover, with €1.177 million extra investment by EIC, we expect to achieve a payback in less than 3 years and generate a 10.9 R.O.I.by 2027 (€12.8 million cumulative profits) while adding 40 new people to our work force.