We are a UK leading Network of Electric Vehicle charge points with 1,300 public charging bays.
Idea
Introduction
POD Point design and manufacture EV charge points for use in the Home and for Public use.
Our charge points connect to our cloud based management system which enables recurring revenue from this network.
We sell our charge points to private and public sector businesses, and direct to EV users. We drive further revenue from these hardware sales through maintenance packages and hardware upgrades. We also allow our customers to lease their POD Point.
Our clever cloud management system allows us to monetise our estate of charge points on an on going basis:
With our Pay as You Go system we collect revenue from EV drivers each time they use a POD Point. EV drivers use their smart phones to start, stop and pay for charging. We then share this revenue with our hosts.
We charge our hosts a monthly fee to access our sophisticated cloud management tools. This service allows our hosts to manage their POD Points, monitor the usage, customise their pricing and helps them scale their infrastructure.
Finally our we have our patent pending Carbon Sync® product which we expect will, with scale, allow us to sell load shedding capacity to the assist in stabilising the UK's electrical distribution grid.
Intended impact
We aim to change the way drivers put energy into their cars. Currently we regularly drive out of our way to stand in the cold for 2-3 minutes to refuel our petrol or diesel cars from empty. EVs are different. Charging is a top up model. With POD Point, our aim is for EV Drivers to be able to plug in and top up whenever their car is parked, and their EVs will be fully charged whenever they return to them.
Our vision is to have a POD Point wherever EV Drivers park for longer than an hour; at home; at work; at the gym; at the shops; at the local restaurant; at the cinema, which creates a massive opportunity for selling more infrastructure and growing the POD Point Network.
EV Drivers would benefit from a massive Network of charge points in all the places they stop most often. Our hosts would be able to drive a revenue from this integrated Network, and would be be able to monetise all aspects of this platform.
Substantial accomplishments to date
We are a leading network of 1,300 publicly accessible electric vehicle charging bays across the UK.
We have shipped over 17,000 POD Points, making us one of the largest producers of EV charge points in the world.
Pod Point achieved a £4.5m turnover last financial year, and has been cash generative and profitable since the beginning of 2014*.
We sell our domestic charge points through Tesla, Renault and Mitsubishi dealerships. We also partner with Leaseplan and Lex Autolease to offer charge points to their EV customers.
Our publicly accessible charge points are available at a wide range of locations, including Sainsburys, Heathrow, Gatwick, M&S and Tesco.
Hitachi, ARM and O2 are just a few of our high profile corporate customers who are using POD Point systems to provide their staff charging.
We have POD Points in fifteen of the London Boroughs, including Westminster. Plymouth and Exeter council have also chosen to work with POD Point, as have Southern Rail.
*Source: unaudited management accounts
Monetisation strategy
POD Point has four key revenue streams:
● The initial sale of the charge points including additional revenue from maintenance contracts. We are also offer a POD Point lease scheme enabling a low entry price to customers and the ability for ongoing revenue through upgrades.
● Revenue from every EV Driver’s Pay as You Go transaction, which is based on a revenue share model with the charge point host.
● Subscription to our POD Point management system which allows hosts to manage their POD Points, plus there are further revenue opportunities from offering a basket of software modules which will be sold as upgrades to the basic tool.
● In the future we plan to add a revenue stream from our patent pending Carbon Sync ® smart grid technology which allows us to control the load our network places on the UK electrical grid.
Use of proceeds
We believe that POD Point is already an established company in the EV charging industry. The EV Market is expanding rapidly and in order to meet the industry growth rate we need to invest in our products, services and resources.
We intend to use the proceeds of the fundraising as follows over the next 18 months:
● 50% commercial development
● 30% software development
● 20% hardware development
This will enable us to continue driving the quality of the EV charging experience for our EV Drivers and Corporate customers, and then to target all areas of the UK.
Market
Target market
We are targeting the UK primarily, and core regions in Europe where EVs over-index i.e. Norway.
Our target markets within the UK are guided by wherever an EV Driver is parked for more than an hour and therefore needs a Top-up charge.
We sell directly to EV Drivers for their in home charging needs, and through our vehicle leasing partners and OEM dealerships.
We target our corporate customers to meet the workplace charging occasions, and to provide customer charge points for when EV Drivers are shopping; at the gym; eating out; and at leisure.
We target public sector bodies to provide On Street charging for our EV Drivers' needs.
Characteristics of target market
Both consumer demand and legislation is driving the strong growth of EV charging infrastructure and key industry commentators are predicting massive growth over the next few years.
Pike Research estimate that Europe will require 4.1million EV charge points by 2020, with a market opportunity of $1.3billion.
Frost and Sullivan predict a CAGR of 113.3% for the European EV charge point market reaching 3.1m charge points by 2019.
Almost every market in Europe is seeing strong growth, with Norway being a highlight - where almost 15% of all car sales are electric. In the UK, SMMT data for January to October 2014 indicate a 264% year on year increase in plug in EV vehicle sales.
This rapidly growing demand is also encouraged by legislation. Stricter European fleet average CO2 emissions of 95 g/km will be mandated by 2020. Only full electric vehicles, plug-in hybrid vehicles, or the smallest internal combustion engines are likely to satisfy this threshold.
Vehicle manufacturers are responding by offering an ever expanding range of plug-in electric vehicles. There are more than 20 types of plug-in vehicles on the UK market in today, vs only 6 three years ago in 2011. All key manufacturers including Volkswagen, Toyota, BMW, GM, Nissan, Renault, Daimler (Mercedes), Mitsubishi, and Volvo are present in the market.
Marketing strategy
POD Point has developed a consumer facing brand as well as a B2B offering, and we believe has also developed a strong social media presence, and regular dialogue with our EV Drivers through Marketing Activities like our Charging Around the UK campaign.
This year we are developing our interaction with EV Drivers and Customers further to encourage their involvement in developing our Products and Services to better suit their needs.
POD Point has achieved significant press exposure, including features in the Financial Times, City AM, The Telegraph, The Sunday Times, The Guardian and the Wall Street Journal. POD Point was voted one of Real Business magazine’s future 50 disruptive companies.
Competition strategy
POD Point has what we feel is now an established market position. We have achieved this through a combination of solid execution and innovation.
We believe that our competitive strength comes from the following four elements:
1. Business Model:
We sell all of our charge points to third parties. We believe this allows us to grow more rapidly than competitors who employ an asset ownership model. We effectively use the collective budgets of all our customers to grow our network.
2. Network Effect:
Our model has a strong network effect. Every time we sell a public charge point, we extend our charging network. This network effect gives a cumulative nature to our business, which is difficult for new entrants to combat.
3. Software Loyalty:
We use our cloud management tool to encourage our customers to scale their EV infrastructure, this makes it easier to add more POD Point units than other solutions as their need for EV charge grows.
4. In-house Design:
Where we develop a unique technology, we apply for patent protection. We are currently patent pending on certain aspects of our Carbon Sync technology.
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