Investor Presentaiton
Public Comparable Universe for EVgo
EV charging
EV
ecosystem
Clean
infrastructure
Clean tech
-chargepoin+ blnk EVBOX
FASTNED
VOLTA
Accessing same broad market mega trends on charging buildout
and EV adoption
✓ “Pure play” and will be reflexive comparable for investors
Various business models (owner and operator, hardware sales,
CHaaS, free charging, etc.)
TESLA
AMERESCO Brookfield
x
Tesla is a recognized leader in EV production and sales
DCFC is small part of overall business (and valuation)
x Different level of scale and brand recognition
x
Renewable Partners
×
Bloomenergy solaredge
ENPHASE
Similar business model (own and operate)
Plays to similar ESG trends in sustainability
Different point of adoption / investment cycle
Different structures and dividend payout make reference valuation
metrics less comparable
✓
Plays to sustainable trends in the markets
x
sunnova
x
Varying degrees of capital intensity and technology risk
Different, unrelated products
High-growth
infrastructure
Λ
AMERICAN TOWER®
Y EQUINI X
CC
CROWN
CASTLE
DIGITAL REALTY
×
Similar distributed business model long-term (build, own and
operate)
High secular growth, capital intensive sectors driven by location
and siting
Different locational drivers
EVgo
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