HYPERCHARGE NETWORKS CORP Aktie

Hypercharge has completed the acquisition of the Eddie energy management system and charging network operated by AXSO, effective May 1. The transaction includes the brand, customer contracts, certain intellectual property and operational assets, and adds more than 2,700 charging points to the Hypercharge network—about 45% of the 5,700 connections reported so far. The deal aims to strengthen the company’s presence in Québec, which accounts for more than half of Canada’s electric vehicle sales; AXSO will provide transition services to ensure customers experience no service interruption. Despite nearly 50% revenue growth to $9.08 million in the last twelve months, Hypercharge—with a market capitalization of $8.16 million—continues to report losses due to network expansion investments. » More on de.investing.com

Hypercharge Networks appoints Chris Koch, previously head of growth & partnerships, as chief operating officer with responsibility for sales, order fulfillment and professional services as well as expansion in eastern Canada and the U.S. The microcap company, with roughly 8 million CAD market capitalization, cites significant financial challenges. Hypercharge also signed a 12-month investor-relations advisory agreement with Peterson Capital (fee 100,000 CAD, 500,000 stock options) and reported commissions and broker warrants from a private placement. In addition, Tony Geheran was appointed to the board to bolster digital and network expertise. » More on de.investing.com