Hypercharge Networks (NEO: HC) is stepping into the residential market with a smart electric vehicle charger.
Referred to as HyperCharge Home, the product is a Level 2 electric vehicle charging station that is capable of 7.6kW of output, and is geared towards retail consumers. That level of output is expected to be able to fully charge an EV within five to seven hours, with the unit including the J1772 connector, which works with a majority of EV’s.
The product is to be sold on a direct to consumer basis, as well as through business to business sales channels, and is to retail for $750 a unit.
READ: Hypercharge: Short Squeeze Sensation or Long-Term Investment Opportunity?
Previously, while the company has distributed Level 2 charging systems in residential settings, the chargers were targeted to be sold to multi-use applications, such as in multi-family housing and apartment complexes. It’s most recent transaction saw ten chargers supplied to a development in Vancouver being undertaken by Harlo Capital.
The product launch follows the company earlier this month filing its third quarter financial results, which saw Hypercharge post revenue of $921,000, along with operating expenses of $1.3 million, on the sale and delivery of 280 charging ports. The firm posted a loss of $1.8 million for the three month period.
Hypercharge last traded at $0.21 on the Neo.
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