Special Report: Infrastructure – Local Leaders
November 14, 2022
This article originally appeared in the Los Angeles Business Journal.
Green Wealth Energy
Fan
HEADQUARTERS: Pasadena
YEAR FOUNDED: 2017
BUSINESS NICHE IN EV CHARGING MARKET: GreenWealth is an EV charging infrastructure developer that specializes in providing services to fleet, commercial, multifamily and public-sector buildings. Company partners with electric vehicle charging manufacturers and works with clients to provide one-stop service for their electric vehicle charging needs.
CEO: Ariel Fan
NUMBER OF EMPLOYEES: 14
# EV CHARGING STATIONS DEPLOYED: About 800
ANNUAL CONTRACT AWARDS: $18 million in contracts in the past 12 months
RECENT DEVELOPMENTS/MILESTONES: Awarded $8.1 million contract from Southern California Gas Co., a unit of San Diego-based Sempra Energy, deploy/install and then manage 722 EV chargers across 29 sites in Southern California. Also awarded $3.2 million contract from Brighton Management to deploy/install and then manage over 160 EV charging ports at 14 hotels and retail properties across California; construction slated to begin in first quarter of next year.
WHAT’S NEXT FOR COMPANY: GreenWealth is on a mission to accelerate EV infrastructure implementation by making it affordable and at scale. The company is raising venture funding to expand its services nationwide and continues to seek partnerships with public agencies, fleet operators, commercial/multifamily building owners and operators. The company aims to close its current venture capital funding round in the first quarter of 2023.
STATE OF LOS ANGELES COUNTY EV CHARGING INFRASTRUCTURE: “The Los Angeles County region has the highest density of electric vehicles per capita in the country. As such, we have the eyes of the entire country looking to learn from how the EV charging market develops here from a business and policy perspective. We can do that through making sure our hiring is equitable, that we are making decisions around social impact in our local communities, and that our turnkey EV charging services can be accessible at all income levels.
By Howard Fine
