Introduction
With Power Hero, over 1.7M electric vehicle (EV) drivers can enjoy fast charging options wherever and whenever they need them. We’re at the forefront of the massive $500.4B global EV market, growing at a remarkable 17.8% compounded annual growth rate (CAGR).
As the world shifts towards electric power to combat climate change and the deterioration of our planet, Power Hero plays a pivotal role in shaping a sustainable future.
Currently, there is a dire gap between the growing number of EVs on the road and the availability of convenient charging solutions.
Success To Date
- World-class team with 10+ exits, including 6 IPOs & a unicorn
- 7 patents granted across EV charging capabilities
- 3 pilots secured in the largest counties in California
- Partnership with Verizon, opening access to 28M business customers
- PowerPac prototype in development & Cameo prototype ready for production
- Significant diversified revenue potential from licensing, hardware sales and subscriptions
- Massive $500.4B global electric vehicle market potential, growing at a 17.8% CAGR
- Cloud-connected products allow for grid management & resiliency
Problem
Unlike gas stations, charging infrastructure for EVs is not yet widespread, leading to long queues at existing charging locations. This limited accessibility presents a giant hurdle to the transition to electric power, deterring some drivers from switching to EVs.
Moreover, for the 100M+ Americans residing in apartments, overnight charging is simply not viable. Today’s charging options rely on access to adequate electrical infrastructure, and currently it takes several hours to fully charge a vehicle.
For the EV revolution to truly flourish, drivers must be able to plug in their cars at home (including apartments and other detached dwellings) and at work, just as they would charge their phones, AND get the charge they need quickly.
Without addressing these challenges, widespread EV adoption may fail, leading to grave consequences for the future of our planet.
Solution
Power Hero makes mass EV adoption possible by offering a suite of personal charging solutions, so drivers can charge their EVs conveniently, regardless of where they are.
Power Hero’s patented technology leverages existing electrical infrastructure, so anyone - including apartment residents - can charge from home and avoid waiting in line at public stations to access the abundant energy already all around us. Our installations are easily compatible with any 120V circuit, requiring no retrofitting. Additionally, all of the charging power is connected to the cloud, ensuring convenient access and usage.
Power Hero enables effective grid management, empowering drivers to charge their vehicles overnight. By promoting off-peak charging, our installations play a crucial role in load balancing on the grid, effectively reducing peak demand pressures.
By reimagining the electric charging infrastructure, Power Hero breaks down the barriers that have hindered the transition to sustainable transportation, making gas-powered cars a thing of the past.
Power Hero's comprehensive range of products have been granted seven patents that cover various aspects of our technology, including connected charging stations, personal 120V/240V chargers, mobile station charging, and cloud-based charging networks.
With our suite of cutting-edge solutions, Power Hero effectively addresses the challenges faced by all EV drivers. Whether a driver is far from available charging, resides in an apartment building with limited access to power, seeks to avoid a long queue, or even finds themselves stranded without options, Power Hero has the perfect tailored solution.
PowerPac™ is our powerful overnight solution designed specifically for apartment residents or multi-EV homes. It can be easily plugged into any available circuit and stores power while the driver is away. While our solutions draw in 120V for power, thanks to our patented technology, they discharge the stored energy as 240V, enabling fast charging. This significantly extends the EV's range to 100 miles per day.
Cameo™, our initial product, is an adapter that securely attaches to any Level-2 charger and connects to cloud servers. This allows drivers to view the charging status, reserve charging spots, and make payments if needed, providing a reliable solution to manage (or monetize!) their EV charging needs. Similar to how Airbnb allows homeowners to list their properties for short-term rentals, Cameo™ allows EV owners or charging station operators to list their Level-2 chargers for use by other EV drivers.
Finally, mPower™ is a mobile charging station that brings power wherever it's needed. It offers roadside assistance for drivers who find themselves stranded without power and it can also be hired for events or used to charge on the go.
The global EV market is enormous, currently valued at $500.4B and growing at a CAGR of 17.8%. The escalating concerns about climate change have played a significant role in driving the demand for EVs, as the public becomes increasingly aware of the environmental impact of gas-powered cars. Furthermore, government mandates, especially in regions like California, are poised to further accelerate this growth in the coming years, promoting more widespread adoption of EVs.
Power Hero is poised to capture a significant share in this market by addressing all of the challenges associated with EV charging, emerging as a key player in this exponentially growing sector. Our proprietary patented solutions provide a significant advantage in capturing the largest untapped EV charging market of over 100M apartment residents.
Further, we’re uniquely positioned to cater to the needs of apartment dwellers, who often lack access to reliable personal charging solutions and represent a hugely underserved segment in the market. With over 100 million people living in apartments and detached homes with multiple EVs but insufficient circuitry to support simultaneous charging, the opportunity is astronomical.
Business Model
With public and private partnerships to support our growth, we plan to rapidly increase our footprint across the US.
Power Hero partners with industry leaders like Verizon to develop and deliver world-class solutions to the market, while gaining access to their Partner Program’s 28M business customers. Through our partnership with Arrow Electronics, one of the world's largest electronics component suppliers, we ensure that we maintain best-in-class supply chain and manufacturing practices.
In California, we have already established pilot programs with cities in two of the state's largest counties: Los Angeles (with a population of 9.8 million) and Orange County (with a population of 3.2 million). The pilot initiatives are set to commence in the cities of Seal Beach, La Verne, and Buena Park in Q1 2024.
Our partnerships in just these three cities grant us access to over 17,000 renter-occupied units in the most populous counties in California, putting us in an excellent position to expand our footprint to the 6 million rental units in California alone.
Our business model consists of:
- Hardware Sales: Sales to government entities, property developers, retailers and car dealerships.
- Leasing: Offering a lease-to-own model primarily for direct-to-consumer sales.
- User Subscriptions: Device subscriptions with power usage, software updates, system set-up, and related services. This subscription model ensures predictable, recurring revenue. Users can include both municipalities who want to scale EV infrastructure and adoption, and EV owners.
With a fresh injection of capital, we may be able to expedite the introduction of our innovative solutions to the market and scale to 67,000 units by 2026.
Market
The $500.4B global electric vehicle market has experienced massive growth and is projected to surpass $1.5T by 2030, growing at a whopping 17.8% CAGR.
The EV charging market is projected to grow even faster with a 25.5% CAGR.
We believe Power Hero is poised to play a pivotal role in this exploding market by addressing the unmet charging needs of 100 million apartment residents.
Power Hero is spearheading the EV revolution, making personal EV charging accessible anytime and anywhere.
We’re creating a world where mass EV adoption is a reality, so we can create a greener future for generations to come.
Join us and own a stake in our success as together, we lead the charge for EV.
Press
- The Silicon Review
Power Hero is a great opportunity to get in on the EV wave - Invest with Passion
Innovations Happening in the Electric Vehicle Charging Space - Insider
Power Hero to Launch PowerPac Home Charging Solution for Electric Vehicles - CIO Bulletin
Power Hero is a California-based EV charging company developing solutions for a smarter grid for everyone - Autotech Outlook
Power Hero: Making EV Charging Easy and Accessible For All
Team
Use of Proceeds
If the offering's maximum amount of $614,000 is raised:
Use | Value | % of Proceeds |
---|---|---|
Product Development | $200,000 | 32.6% |
Hiring & Payroll | $310,000 | 50.5% |
General & Administrative | $73,914 | 12.0% |
Intermediary fees | $30,086 | 4.9% |
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Common Stock, under registration exemption 4(a)(6), in Power Hero Corp.. This offering must reach its target of at least $10,000 by its offering deadline of November 17, 2023 at 11:59pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
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:
Financials
These financial statements have been audited by an independent Certified Public Accountant.
SEC Filings
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.
More Info
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