Many electric vehicle (EV) owners currently encounter three major problems: they are required to download multiple apps to charge freely, there are limited smart charging technology offerings, and coverage gaps that restrict charging accessibility. AeonCharge aims to restructure the EV charging platform by focusing on easy charging accessibility through investments in Smart Charge Technology and offering the ability to promptly locate nearby chargers from a range of providers through our mobile app.
- 70% of EV owners we interviewed in Illinois and Indiana say that they will shift to our platform with the current solutions we offer from their current EV charging providers.
- 98% of previous EV owners say they would have not sold their EV and shift back to gasoline-fueled vehicles if our solutions existed back then.
- We are supported by two advisors who are leaders within the EV community.
- With the rapid growth of electric vehicles (EVs) in the United States, the market share of EV charging is expected to grow at 32% Compound Annual Growth Rate (CAGR).
- Support the green energy movement - EV adoption rate will increase with our charging solution that addresses EV owners concerns and improves the convenience of EV charging experience.
When we asked over 430 EV owners about their experiences, we identified three main problems that hindered the convenience for electric vehicle users:
- No universal platform for most electric vehicle owners to easily locate chargers, forcing them to download multiple apps to charge freely.
- Limitation to smart charging; many EV owners do not have access to real-time charger availability notifications.
- Nationwide coverage gaps within the current infrastructure that limits EV charging accessibility.
AeonCharge is creating a universal platform for users to charge and locate charging stations from a range of providers. Our investment in Smart Charge Technology will allow users to reserve and pay for a charging session with ease. Users will also be able to capitalize on our nationwide offering to eliminate network gaps in the charging network.
AeonCharge plans to develop a free mobile app to find charging stations that will benefit EV owners.
AeonCharge provides a platform for EV drivers to enjoy the benefit of booking, payment, and charging through one single app throughout the United States.Our app eliminates the issue of charging inconvenience through our model by building a community of electric vehicle owners who can easily find and utilize charging stations.
Our revenue pipeline comes from commissions every time EV owners utilize our platform. We will take a 30 cents session fee plus 2.9% of the total transaction, which sustains ourselves for charger deployment, maintenance, and ensures price competitiveness to our competitors. The rate will depend on the state with an average of 3 cents per minute.
- $66.3M Total Available Market (TAM) in Midwest
- $603.64M TAM in the US
- $15.5 B TAM Global Market
- The market scope is for 2021 and it is growing every year at 32% CAGR
- In 2030, we are expecting a market size of $5.00 Billion TAM in the US
There is a need for AeonCharge on the electric vehicle market as the number of electric vehicles on the road in the U.S. has increased consistently from 2011 to 2020. In 2018, there were 1,000,000 EV drivers, and currently, in 2020 there are an estimated 1,600,000 EV drivers in the US.
AeonCharge’s market scope can be equated as:
Total Addressable Market = (# of EVs) x (Frequency) x (Costs / Charging)
- 430+ interviews
- National Science Foundation Midwest funding
- One national competition award
- One international competition award
- $179,250 cash investment raised to date (valued at $2,04M)
- $40,000 service investment raised to date (valued at $2.04M)
- 37 prospective users
- 19 committed charging points
- Partnership with EnelX as a charger manufacturer
- Android and iOS mobile apps (in-progress, target: February 2021)
Our team comes from different backgrounds and cultures. We focus on recruiting a diverse and knowledgeable team, rather than selecting close friends to join the company.
Alec’s experiences include working in team settings for the Indianapolis Airport and the Indianapolis Colts. Alec brings critical skills, in technical information,technology (IT), and project management expertise to our organization.
Dwi has experience in technology and organizational leadership. He has published scholarly articles that have received multiple recognitions, as well as being an advisor for a semiconductor company in Indonesia. Dwi demonstrates an ability to lead an organization as the technical director and vice president of Solar Chapter, an international non-profit organization.
Advisors and Investors
And two advisors who are experts in the EV industry. (Requests were made to not disclose their information)
Use of Proceeds
If the offering's maximum amount of $106,950 is raised:
|Use||Value||% of Proceeds|
|Compensation for full-time marketing||$54,000||50.5%|
|Office spaces and supplies||$10,000||9.4%|
|Netcapital fix cost||$5,000||4.7%|
This is an offering of Common Stock, under registration exemption 4(a)(6), in Laegacy Inc.. This offering must raise at least $10,000 by April 1, 2021 at 12:59am ET. If this offering doesn’t reach its target, then your money will be refunded. Laegacy may issue additional securities to raise up to $106,950, the offering’s maximum.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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