Edison XFC

Edison XFC is creating electric-vehicle charging stations that will charge any EV in as little as ten minutes.

This is a huge achievement within the U.S. market for EV charging infrastructure, which is projected to surpass eleven billion dollars by 2027. That’s because close to forty percent of respondents in a recent survey from Boston Consulting Group said they intend to buy an EV as their next vehicle, as long as certain conditions are met. What are these conditions?

For starters, they want to choose from a variety of EVs, including ones that cost less than $50,000. These conditions have already been met. Furthermore, they want limited or no wait times to use charging stations. And most importantly, they want quick charging times.

These latter conditions are still being addressed. But Edison XFC can be the solution these consumers are hoping for.

The company’s charging stations can charge an EV battery from ten-percent capacity to eighty-percent capacity in as little as ten minutes. That’s as much as five times faster than existing solutions. Here’s how it works:

Edison’s charging stations combine photovoltaic energy, battery storage, and the company’s own technology to deliver these fast charging speeds. The payment process is simple, too. You can use an app or pay with a credit card. And stations have dual charging ports and can support all EV models.

Edison’s business model includes franchising turnkey solutions to property owners and maximizing profitability through energy arbitrage and peak-shaving strategies. Additional revenue will come from carbon credits, retail-space rentals, and advertising opportunities on the stations.

The company is pre-revenue, but is in the process of deploying its pilot station in Las Vegas. The plan is to create a full-scale flagship station on a twenty-six-acre site along Interstate-15 between Vegas and Los Angeles.

All required hardware and software have been developed, tested, UL-certified, and delivered to the pilot site. And construction is set to begin as soon as the local authority approves the permit. Edison anticipates completing and operating the pilot station by the end of this year.

Meanwhile, the company has raised one-and-a-half million dollars from investors including the former elected Treasurer of Nevada. And it has multiple patents pending.

Team Background

Amit Kumar - Co-Founder & CEO

In addition to his role with Edison, Amit is Chairman and President of Anixa Biosciences (Nasdaq: ANIX), a biotech company developing therapies for cancer treatment. He’s also a member of the Regional Board of Directors with the American Cancer Society.

Previously, he was Executive Chairman of Actym Therapeutics, a venture-funded cancer-therapy company. Before that, he was President and CEO of GFF, a biotech company creating new cost-saving techniques for the energy industry.

Initially, Amit was President and CEO of CombiMatrix Corporation, a biotech company using genetic analysis for clinical application that was acquired by Invitae (Nasdaq: NVTA). He studied Physical Chemistry at Stanford, earned a Ph.D. in Physical Chemistry from Caltech, and completed a post-doctoral fellowship at Harvard.

Victor Lee - Co-Founder & President

Prior to starting Edison, Victor was President and CEO of Ascent Solar Technologies, a Nasdaq-listed solar-energy company. He was also co-CEO of CNMC Goldmine, a Singapore-based publicly-traded company.

Earlier in his career, he worked in finance, holding key roles at Deutsche Bank, Morgan Stanley, and Citibank. He earned a Bachelor’s degree in Accounting and Finance from the University of Wisconsin and a Master’s degree in Finance from Singapore Management University.

Kim Huntley - Board Member & Advisor

Kim is a former senior-service executive with the U.S. Department of Defense and Director of Defense Energy. He has close to fifty years of global logistics experience.

In addition to his role with Edison, he is President of Supply Chain Enterprises, a consulting firm for logistics companies focused on energy solutions. Previously, he spent twelve years as a board director with Ascent Solar Technologies, the energy company.

Kim earned a Bachelor’s degree in Economics from Golden Gate University.

Co-Investors