{"id":3789,"date":"2023-04-26T21:56:00","date_gmt":"2023-04-26T21:56:00","guid":{"rendered":"https:\/\/propulsionquebec.com\/nos-ressources\/flo-changer-le-monde-une-recharge-a-la-fois\/"},"modified":"2023-09-06T21:58:29","modified_gmt":"2023-09-06T21:58:29","slug":"flo-changer-le-monde-une-recharge-a-la-fois","status":"publish","type":"ressource","link":"https:\/\/propulsionquebec.com\/en\/nos-ressources\/flo-changer-le-monde-une-recharge-a-la-fois\/","title":{"rendered":"FLO\u00ae: sparking change, one charge at a time"},"content":{"rendered":"
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FLO became a leader in electric vehicle (EV) charging in North America by integrating the process from start to finish: manufacturing charging stations, developing software and managing its network. To stay ahead of the curve in a fast-moving, innovation-driven market, the company turned to the Fonds de solidarit\u00e9 FTQ to support its growth.<\/p>\n<\/div><\/div>\n\n

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\u201cI was definitely born at the right time and at the right place,\u201d says Louis Tremblay, President and CEO of FLO.<\/h2>\n<\/div><\/div>\n\n
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As a natural entrepreneur and a lifelong car enthusiast, he understands the importance of acting on climate issues. An electric vehicle project at Universit\u00e9 Laval in 2004 sparked his focus on the key to accelerating the shift to EVs: charging. Since Qu\u00e9bec has a wealth of engineering skills, both electrical and software, he\u2019s confident the province has what it takes to \u201cget it right and do it efficiently.\u201d Today, the company he founded in 2009 is a market leader offering a wide range of products and an extensive charging network, one of the largest across Canada and the United States.<\/p>\n<\/div><\/div>\n<\/div>\n <\/div>\n

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Infographic produced by the Fonds de solidarit\u00e9 FTQ, April 2023<\/em><\/figcaption><\/figure>\n<\/div><\/div>\n\n
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If the EV adoption rate has accelerated recently, it\u2019s not just because of the incentives from our governments to meet their emissions targets; it\u2019s because visionaries like FLO have paved the way with a highly reliable, robust and innovative infrastructure.<\/p>\n<\/div><\/div>\n\n

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\u201cWhen you look at the budgets for vehicle electrification in North America over the last two years, the tide has definitely turned,\u201d Tremblay adds. \u201cFor years, we were like surfers waiting for the perfect wave. Gradually, we developed our products and software for different market segments, and now we\u2019re deploying more charging stations than ever to ride the big incoming wave!\u201d<\/p>\n<\/div><\/div>\n\n

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It\u2019s all about the experience<\/h2>\n<\/div><\/div>\n\n
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The company\u2014based in Qu\u00e9bec City with two plants in Shawinigan and one added in Michigan this winter\u2014owes its solid growth to a simple vision: to offer the best charging experience possible.<\/p>\n<\/div><\/div>\n\n

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\u201cWe had to make sure that early adopters of this technology didn\u2019t get stranded at the side of the road. That\u2019s why, from the very beginning, we integrated everything under one roof: manufacturing charging stations, developing and managing mobile apps and managing the network. Integration gives us more control over the charging experience, compared to vendors who focus on one part of the equation,\u201d Tremblay says.<\/p>\n<\/div><\/div>\n\n

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Integration means that FLO can compete with players across North America that just can\u2019t offer the same reliability and availability. For instance, a 2022 UC Berkeley study<\/a> found that only 72.5% of all public stations in the San Francisco Bay Area were functional. FLO, on the other hand, guarantees 98% uptime at all times.<\/p>\n<\/div><\/div>\n\n

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And then there\u2019s charging time: the all-new FLO UltraTM<\/sup> station charges most batteries up to 80% in 15 minutes with an output of up to 320 kW (depending on EV type, configuration and on the number of vehicles using the station). That\u2019s enough power for a 200- to 300-kilometre range in the time it takes to enjoy a snack or a coffee. And it should convince sceptics that it\u2019s time to make the leap to electric.<\/p>\n<\/div><\/div>\n\n

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\u201cEV drivers need to feel confident to explore, like taking road trips or vacations. Most of them charge at home, but \u201cgarage orphans\u201d don\u2019t have charging equipment at home. That\u2019s why we prioritized on-street charging stations in 2014, at the same time as commercial fleets and condos, before entering the residential market in 2017. With ultra-fast, we\u2019re going to meet those needs even better,\u201d Tremblay adds.<\/p>\n<\/div><\/div>\n\n

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What\u2019s more, the FLO UltraTM<\/sup> station charging station is ushering in a new era of managing fleet charging stations. With over 200 sensors connected to the network, technicians can respond to alerts instead of doing routine checks, one of the many benefits of being empowered by data collection.<\/p>\n<\/div><\/div>\n\n

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Coating of a FLO printed circuit board<\/em><\/figcaption><\/figure>\n<\/div><\/div>\n\n
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Invest today to stay ahead of the curve<\/h2>\n<\/div><\/div>\n\n
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Delivering this kind of feats requires a sustained effort in terms of development and continuous improvement. But investors aren\u2019t always ready to enter this market because it takes considerable long-term resources.<\/p>\n<\/div><\/div>\n\n

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\u201cEnvironmental technology is a high-velocity market and it\u2019s evolving along with legislation and the demand for efficient, robust products. That\u2019s why it\u2019s important for investors to understand the industry and its issues if they want to move forward into the future. The Fonds de solidarit\u00e9 FTQ\u2019s team of energy and environmental experts know how to align with an entrepreneur\u2019s vision,\u201d says Martin Guestier, Director, Private Equity and Impact Investing \u2013 Structuring Capital, Energy and Environment.<\/p>\n<\/div><\/div>\n\n

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A patient, present partner<\/h2>\n<\/div><\/div>\n\n
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The Fonds is as a patient institution that reinvests in its partner companies for long-term growth. It\u2019s also an investor with deep pockets, with more than $17 billion in net assets, replenished year after year by contributions from its shareholders-savers. In fact, over the past five years, it has invested an average of $1.3 billion annually in local companies.<\/p>\n<\/div><\/div>\n\n

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The Fonds\u2019 goal is to hold $12 billion in net assets in sustainable development by 2027. This will allow it to create business synergies between various players in the sector while supporting the energy transition and electrification of transportation.<\/p>\n<\/div><\/div>\n\n

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\u201cWe\u2019ve been talking about sustainable development for 40 years, but there\u2019s a real momentum for climate technologies,\u201d Guestier adds. \u201cWe\u2019re building the industry of the future and that demands the economic infrastructure of tomorrow.\u201d<\/p>\n<\/div><\/div>\n\n

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To learn more about Fonds de solidarit\u00e9 FTQ financing, visit fondsftq.com\/en\/business<\/a><\/strong><\/p>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"FLO became a leader in electric vehicle (EV) charging in North America by integrating the process from start to finish: manufacturing charging stations, developing software and managing its network. 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