Orange Charger Unveils Next-Gen EV Charger for Multifamily Properties with $6.5M Funding Boost

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Orange Charger, founded by former Tesla executives, has announced the launch of its latest EV chargers and software platform designed specifically for multifamily properties. With the goal of providing affordable and reliable EV charging to the 43 million Americans living in such residences, the new chargers aim to address the projected rise in EVs, expected to reach 92 million by 2040.

Orange's Level 2 outlets are priced at $750 each, allowing property owners to install four chargers for the cost of one standard charger, without the need for electrical panel upgrades. The chargers only incur a usage-based per kWh fee, unlike other models with ongoing service fees.

Since its inception, Orange Charger has deployed around 2,000 units nationwide. The new chargers feature optimized energy use, enabling property owners to double or quadruple the number of installations without extra costs. Equipped with OrangeNet mesh technology and Bluetooth connectivity, they ensure seamless operation even without cellular or WiFi signals.

The Orange app facilitates easy charging sessions, while OrangeOS manages charger usage, reimburses energy costs, and offers property owners control over access and management.

A $6.5 million funding round led by Munich Re Ventures and Climactic, along with Baukunst, Lincoln Property Company, Crow Holdings, and Space Cadet Ventures, brings Orange's total funds raised to $8.8 million. This funding supports Orange's mission to enhance EV adoption by providing accessible charging solutions for multifamily buildings.

Original article posted on May 15, 2024

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