⚡️The results are in - 3 year V2X pilot in the UK!

Happy Monday. This is Electric Avenue, the newsletter that is more popular than a Tesla Supercharger between LA and San Francisco on Thanksgiving weekend.

Here's what we have for you today:

• EV & Charging SPAC performance

• 1 Pic

• 2 Links

• Meme of the week

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EV & Charging SPAC performance 📈

The year 2022 is nearing it´s end. So for this edition, we´re taking some time to look back to 2021 - the year of the SPAC! Tons of companies were able to go public, some at much earlier stages (and lower revenues) than were traditionally thought to be suitable for public markets. As all growth companies are down in 2022, EV & Charging tech startups that used SPACs to go public have been hit as well. Let´s compare them and also look at the NASDAQ 100 for reference:

Company / Ticker / Current Market Cap / % price change in the last 12 months

• Nasdaq 100 / QQQ / n/a / -31%

• Lucid / LCID / $12.38B / -82%

• Fisker / FSR / $2.15B / -62%

• Mullen / MULN / $0.15B / -94%

• Arrival / ARVL / $0.14B / -97%

• Chargepoint / CHPT / $3.57B / -47%

• Wallbox / WBX / $0.5B / -72%

• Blink / BLNK / $0.65B / -58%

• EVgo / EVGO / $0.35B / -54%

• Tritium / DCFC / $0.2B / -84%

• Compleo / COM.DE / $0.034B / -87%

• Nuvve / NVVE / $0.02B / -94%

Ouch, it´s not pretty.

1 Pic 🖼

Recently we reported on a residential V2X pilot planned in Northern California. Turns out, our friends in the UK are years ahead of us. Kaluza Energy is part of OVO Group, a major retail electricity provider in the United Kingdom. Over the past 3 years, they have completed a residential V2X pilot. The official whitepaper with the results just came out. Of course, we have the highlights for those of you that don´t want to fill out the annoying lead-gen form.

• Enabling Hardware & Software: ChaDeMo V2G charger made by Indra + Nissan Leaf EV´s + Kaluza energy cloud + OVO retail electricity billing

• Participation: 336 chargers installed, 61% of cars were plugged in on a given night

• Average annual participant savings: $477/yr - ca. 40% reduction of the avg. participant´s household electric bill

• Estimated Infrastructure savings: Potential of 10% electrical infrastructure cost reduction

• V2G vs V1G: For demand response markets, ca. 6X higher value with V2G compared to V1G smart charging

• User Experience: 93% customer satisfaction

• Customer needs: Customers in the study expressed desire to use their setup for Vehicle-to-Home (V2H) emergency backup power - notable in a country like the UK with a relatively stable power grid.

2 Links 🔗

• Tesla drops prices: As we reported, Tesla recently started offering it´s home charging stations via retailers like Best Buy in the US. Now Tesla dropped the price for this product from an already-low $400 to a crazy-low $350. Comparable products from brands like Wallbox or the Enel Juicebox start at ~$600. But until there is an official "reverse adapter" from Tesla´s connector to the SAE-standardized SAE-J1772 connector, only Tesla drivers will profit from this price reduction. While aftermarket adapters do exist, they tend to be niche products made by not-very-reputable companies.

• Lucid beats Bugatti: This video is a great watch. The crew at Hagerty Media got their hands on a $250k Lucid Sapphire and raced it against a $4M Bugatti, as well as a Tesla Model S plaid and a Ducati motorcycle.

Meme of the Week

DISCLAIMER: None of this is financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.