Headquartered in Malaga, Spain the new subsidiary, called Envision EU will fabricate parts and assemble Envision's EV ARC and Solar Tree product lines for the European market.
Europe has the highest global per capita penetration of EVs in certain countries already and the growth rates exceed 45% in others. The European Union and its member countries have some of the most aggressive and stringent goals for the electrification of transportation in the world.
Similarly, the EU has aggressive renewable energy and greenhouse gas emissions reduction goals. Envision EU will provide products, which accomplish both goals in efficient, intelligent and highly scalable form factors.
The Company's recently patented EV ARC product allows for the rapid scalability required by the European governments to reach their ambitious goals for EV charging infrastructure. The clean and renewable energy produced by the EV ARC product makes it ideal for the greenhouse gas reduction required by the EU.
Envision's Solar Tree DC fast charging products are ideal for the highway corridors between the EU's major cities. Both products generate all their energy from the sun and do not require grid connections. Germany already has the highest penetration of PV per capita in the world and France, Spain and the UK have very aggressive goals for the deployment of renewables. Envision EU will sell across the entire region.
Envision selected Aconfort as a partner in the EU, because of its demonstrable history of success in the energy management and renewable energy fields and also because of a long-standing relationship between the principals and Envision Solar management. Aconfort has secured agreements with the government of Andalucia, with BMW and others to aid in the growth of Envision EUs' business. Aconfort is also active in the Middle East.
Envision Solar consulted with US/EU legal and business experts throughout the process of selecting a partner and negotiating contracts.
"We are very excited to bring these solar powered EV charging and energy security products to Europe," said Aquilino Ornia, CEO of Aconfort and Managing Director of Envision EU. "In the EU, government and enterprise spending on EV charging and renewable energy is growing at remarkable levels and we believe that Envisions' products will be extremely successful in this market. In our new facility in Malaga, Spain EV ARC and Solar Tree components will be assembled for distribution throughout Europe. We anticipate significant growth in Europe in 2016."
"International expansion is a key component of our growth strategy as evidenced by our recently announced expansion into China," said Desmond Wheatley, CEO of Envision Solar. "Europe is an area of interest for us, because of the level of government and enterprise commitment to EVs and renewables. We have spent a great deal of time and energy developing highly exportable sustainable technology solutions. Now we are ready to take advantage of what we see as very good timing in the multi-billion dollar verticals we serve across international markets."
