Sunspeed Enterprises Q1 Review & Updates
Sunspeed Enterprises went through a busy first quarter that saw the Bay Area-based company release a Direct Public Offering (DPO) to California residents, it established marketing alliances within the EV community, broke ground on a new SunTrail charging hub, and received a government grant that will go toward equipment costs.
In an effort to kick start its ambitious plan to build an electric vehicle charging station network through coastal California, Sunspeed announced it is offering 250,000 shares of its common stock via DPO to California residents to help raise funds for development of The Pacific Coast SunTrail Route.
“The direct public offering will provide new sources of funding required for us to aggressively move forward with our plan,” said Richard Sachen, founder and CEO of Sunspeed Enterprises. “An injection of new capital, combined with our current funding and grants, will allow us to hit the market with increased momentum.”
For more details on our DPO, please click here.
To help spread its message of a zero-emissions transportation network, Sunspeed and the Electric Automobile Association (EAA) have agreed to a strategic marketing agreement. As part of the alliance, the EAA will provide digital, and social media advertising solutions, plus additional marketing services.
Sunspeed Enterprises will offer on-site ads on 24” LCD screens throughout its various EV charging station hubs in California, in addition to offering a 10 percent charging discount to all EAA members.
In March, the company broke ground on a new SunTrail charging hub at the nationally recognized Madonna Inn in San Luis Obispo, Calif. It is the latest coastal installation point to offer EV drivers charging flexibility as they travel up and down tourist friendly Highway 1.
Lastly, Sunspeed received a grant from the Northern Sonoma County Air Pollution Control District Board. The Control District is one of 35 California air districts established to regulate the emissions of air pollution. Funds from the grant will go toward equipment costs.