Freewire Technologies and Patriot Capital Create Vendor Financing Partnership for EV Batteries

FreeWire Technologies, a manufacturer of ultrafast, battery-integrated EV charging equipment and solutions, created a vendor financing partnership with Patriot Capital for its flagship product, Boost Charger. It was made known at the 2022 National Association of Convenience Stores (NACS) Show in Las Vegas.

Patriot Capital and FreeWire will provide retail customers the ability to deploy EV charging equipment in a turnkey way by funding 100% of the project cost through a simple application process and tapping into attractive federal and state incentive programs. Retailers can then spread charger project costs over time while generating revenue from EV charging and driving additional foot traffic to their site on day one.

“Through our partnership with Patriot Capital, FreeWire is pleased to introduce a new vendor financing option for Boost Charger purchases,” Michael Beer, CFO of FreeWire, said. “Our new financing offer will provide retail customers with capital flexibility to fund electric vehicle (EV) charging equipment, adding an attractive amenity with a minimal upfront cost.”

Boost Charger features offers seamless connection to existing infrastructure without burdensome construction costs and complex permitting restraints.

“We are thrilled to partner with FreeWire to provide our exceptional financial solutions combined with an easy process and keen focus on enabling retailers and commercial customers to acquire the FreeWire Boost Charger,” Chris Santy, president of Patriot Capital, said. “FreeWire’s Boost Charger is a dynamic and flexible solution that we know will resonate with customers who want to offer all available “fueling” solutions, including EV charging, to their growing customer base. We are excited about the opportunity to help FreeWire and their customers capture the growing EV market.”

FreeWire’s battery-integrated charging technology is uniquely positioned to be eligible for either an EV charging investment tax credit or an energy storage investment tax credit through the recently passed Inflation Reduction Act (IRA).

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