XCharge North America, the North American subsidiary of XCHG and a provider of EV charging and battery-integrated solutions, and Ascentium Capital, a division of Regions Bank that specializes in small-business equipment financing solutions, launched an initiative designed to accelerate EV charging infrastructure in the United States.
Together, XCharge NA and Ascentium designed a financing structure built around the concept of providing new revenue streams for small businesses that wish to host EV charging stations at various locations.
“At our core, XCharge NA has always been focused on making EV charging more accessible for businesses of all sizes—from high-traffic airports to small-business owners. Our new financing model was designed to mitigate risk for individuals looking to get into EV charging without significant upfront CAPEX,” Aatish Patel, co-founder and president of XCharge North America, said. “We knew we needed an experienced financial provider to help bring our vision to life, and our collaboration with Ascentium gives us confidence that our new financing structure — the first of its kind in the industry — will unlock new revenue streams for small-business owners and continue to accelerate EV adoption nationwide.”
Stephen Interlicchio, senior vice president of strategic services for Ascentium Capital, said, “This is a solution built not only for today, but also for the future as charging capabilities and EV adoption rates continue to evolve. This type of flexible capital option is exactly what the industry needs now, especially to empower small businesses and real estate owners that don’t have the ability to pay significant costs up front but are committed to participating in the EV transition.”
