Climate Impact + Circular Economy = Evolectric
Yup, they let me drive their truck. Long Beach, California based Evolectric enables and advances the electrification of existing fleets of vehicles through scalable software and hardware solutions. Co-Founders Bill Beverley and Jakson Alvarez have a vision that addresses currently unmet needs of small and medium enterprises which account for 50% of all commercial fleets and over 80% of all commercial fleet owners. They are incentivized by regulation (Inflation Reduction Act of August 2022) and economics to transition to green fleets. Evolectric ensures that this transition is timely, affordable, and does not run counter to its climate impact mission. This is where the circular economy comes in.
To reduce, reuse, recycle, and save clients money, Evolectric extends the life of existing physical assets an estimated 10-15 years. This is a great cost savings for large fleet owners and absolutely necessary for small and midsize fleet owners who are already fending off rising costs to run their businesses.
Evolectric’s special sauce is its software IP and deep connections with suppliers to electrify the fleets. Evolectric is battery and motor agnostic but is currently in partnership with some of the largest battery and motor manufacturers for clean vehicles. Evolectric derisks the electrification of fleets through the supply of batteries as a service to its customers.
Bill and Jakson met at Romeo Power, a provider of customized electrification solutions for complex commercial vehicle applications across the transportation, industrial, and marine markets. They started Evolectric out of their interest to serve customers whose needs were unmet in the customized electrification market: SMEs with short haul requirements in the US, Latin America, and beyond. The founders invest a considerable amount of time talking to their customers about what they really want (timely cost effective solutions with minimal risk). Evolectric has evolved from a highly customized electrification enabler to an organization on the verge of launching a highly scalable business within a trillion-dollar global market.
Evolectric has the vision of becoming the dominant player not only in the electrification of existing fleets but also in the rising energy as a service market. In this next business phase, Evolectric will enable customers to sell back unused energy into the grid.
Evolectric is a member of the inaugural cohort of the Long Beach Accelerator (LBA) and a current participant in the Los Angeles Cleantech Incubator (LACI).
More about the cofounders:
Bill Beverley brings fifteen years of experience in power distribution and expertise in vehicle electrification and batteries. He holds multiple patents in the electrified automotive sector. Bill has held leadership positions at Indi-EV, Romeo Power, Faraday Future and has served as a project lead for global infrastructure leaders, including Airbus and Moog Aerospace.[1]
Jakson Alvarez brings several years of experience in finance, accounting, operational and strategic planning, and entrepreneurship. This includes various years of direct support to battery design, prototyping, commercialization and production ramp-up. His experience prior to Evolectric includes leadership roles at 3M and Romeo Power. Jakson focuses on enabling long-term business opportunities and investment campaigns of Evolectric while leading commercial negotiations, business operations and supplier and overall business development.[2]
Jakson was last seen at LACI chatting with House Leader Nancy Pelosi who asked a critical question: Does this really work?
Yes, it does. I drove it myself.
Photos: J Fairbanks