Flexible Financing to Provide Access to Rapidly Deployable EV Charging Stations Across the U.S.

ChargePoint, EnTech Solutions™, and Wells Fargo to fill the financial gap companies need to build EV infrastructure

ChargePoint (NYSE: CHPT), a leading provider of solutions for charging electric vehicles (EVs), EnTech Solutions, a division of Faith Technologies Incorporated (FTI) and a comprehensive distributed energy solutions provider, and Wells Fargo (NYSE: WFC), a leading financial services company, today announced their collaboration to offer simplified, flexible financing solutions for businesses building out charging infrastructure for EV fleets.

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eSkid™ charging solution, a rapidly deployable EV charging platform utilizing ChargePoint hardware and software (Photo: Wells Fargo)

Wells Fargo has worked with EnTech Solutions to create a financing program specifically for the eSkid™ charging solution, a rapidly deployable EV charging platform utilizing ChargePoint hardware and software. The funding provides an affordable financial package with various term options and a simple application process, and it bundles the EnTech Solutions eSkid with ChargePoint chargers, installation, warranty and software.

Installing charging infrastructure can typically be costly and timely, but with EnTech Solutions’ eSkid charging solution and Wells Fargo’s flexible, customizable loan and lease options, businesses across the U.S. can embark on an affordable sustainability journey.

What is an EnTech Solutions’ eSkid™ Charging Solution?

EnTech Solutions’ eSkid charging solution is a rapidly deployable EV charging station designed to drop in place, allowing businesses to offer charging within days of installation. The eSkid has configurable plates to accommodate different charger orientations — it comes pre-wired for two ChargePoint Express 250 charging stations with the option to have different chargers installed — providing flexible options intended for private use with commercial vehicle fleets and businesses.

What are the benefits?

• Flexible: Charging stations are impermanent and can be relocated as a business grows and evolves, an ideal solution for companies that lease their facility.
• Configurable: The 4’x10’ pad has configurable plates to accommodate different charger orientations that fit best with any business operations.
• Quick to deploy: Pre-configured wiring prior to arrival onsite make commissioning quick and unobtrusive.
• Reduced civil work: The above-ground skid option eliminates the need for a permanent concrete pad, reducing project complexities.
• Custom branding: The eSkid charging solution is a blank canvas and can be branded to suit a business or fleet need.

“EnTech Solutions is pleased to collaborate with Wells Fargo and ChargePoint to easily bring these flexible, configurable EV charging solutions to EV owners and EV fleet managers,” said Wade Leipold, executive vice president with Faith Technologies Incorporated (FTI), the parent brand of EnTech Solutions. “Together, we can contribute to lowering carbon emissions through supporting the growth of electric vehicle utilization.”

“For many years our clients have told us a significant impediment to the deployment electric vehicles in their fleets is the availability and installation of charging equipment and infrastructure,” says John Crum, head of Transportation for Wells Fargo Equipment Finance. “We are excited to collaborate with industry leaders such as ChargePoint and EnTech Solutions to bring a streamlined financing program for the rapidly deployable, eSkid charging stations that will provide opportunities for companies to become more sustainable.”

“ChargePoint is committed to enabling opportunities for more companies to participate in the transition to electric mobility,” Rich Mohr, senior vice president, Americas, at ChargePoint. “With Wells Fargo and EnTech Solutions, we are delivering an innovative, turn-key charging solution, while simultaneously reducing a barrier to entry by eliminating upfront investments in infrastructure and drastically reducing time deployment.”

For more information or inquiries about eSkid charging station solutions, please contact Steven Waters, Steven.Waters@WellsFargo.com.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at Wells Fargo LinkedIn: https://www.linkedin.com/company/wellsfargo

About ChargePoint Holdings, Inc.

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.

About EnTech Solutions

EnTech Solutions, a division of Faith Technologies Incorporated (FTI), provides distributed energy capabilities, eMobility charging, innovative sustainable fuel technologies and asset management solutions for businesses looking for reliable, clean energy solutions. We utilize proprietary energy modeling and optimization software to ensure intelligent, comprehensive, and resilient electricity is delivered from an infrastructure that prioritizes the use of all available resources such as renewables, storage and the utility grid. Making Clean Energy Smarter™ – for our customers, the environment and the generations to come. For more information, visit energybyentech.com.

All transactions are subject to credit approval. Some restrictions may apply. The opinions expressed in this document are general in nature and not intended to provide specific advice or recommendations for any individual or association. Contact your banker, attorney, accountant or tax advisor with regard to your individual situation. The opinions of the author do not necessarily reflect those of Wells Fargo Bank, N.A., Wells Fargo & Company or any other Wells Fargo entity.

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