SK Signet secures ultra-fast EV charger orders from Francis Energy

SK Signet secured orders for at least 1,000 ultra-fast electric vehicle chargers from Francis Energy, a U.S. charging service provider, the company said Monday.

SK Signet's 350-kilowatt EV chargers supplied to Francis Energy [SK SIGNET]

SK Signet secured orders for at least 1,000 ultra-fast electric vehicle chargers from Francis Energy, a U.S. charging service provider, the company said Monday.

The deal's financial details were not provided.

Francis Energy, based in Tulsa, Oklahoma, is the fourth-largest charging point operator in the United States. The company runs over 550 EV chargers in eight states and plans to further expand its business in up to 25 states.

With the signing of the latest deal, SK Signet, 53.4 percent owned by SK Group, will provide over 1,000 units of 400-kilowatt ultra-fast EV chargers from July this year to 2027.

More than half of SK Signet’s EV chargers will be installed for EV stations covered by the U.S. National Electric Vehicle Infrastructure (NEVI) program.

SK Signet CEO Shin Jung-ho, left, and Francis Energy CEO David Jankowski pose for a photo during a signing ceremony for a long-term supply deal. [SK SIGNET]

The Biden administration aims to deploy 500,000 EV charging stations by 2026 with the $5-billion NEVI subsidy program that provides funding for projects using domestically-produced EV chargers.

Ohio became the first state to announce its plan for EV charging infrastructure deployment as part of the NEVI program last week. SK Signet and Francis Energy will take part in the Ohio project, and plan to collaborate further in the long term.

SK Signet finished constructing a production plant for 400-kilowatt ultra-fast chargers in Texas that began commercial operation in July. The plant, which is the first EV charger plant built by a Korean company in the United States, can produce up to 10,000 units of ultra-fast chargers yearly.

SK Signet said in June that it will launch products with Tesla’s North American Charging Standard (NACS) charging connector option within this year. The charger will have both the Combined Charging System of Hyundai Motor and most European carmakers as well as NACS plugs, it said.

“SK Signet’s V2 charger has the most efficient product configuration that meets the eligibility criteria for the NEVI program, and we will develop a charger model compatible with NACS plugs in the near future, in line with the changing trend in the U.S. market,” Signet CEO Shin Jung-ho said.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]