Rockville, MD, May 25, 2022 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTC Pink: XDSL) (“mPhase” or the “Company”), a technology company developing the mPower EV+ (electric vehicle) charging network and consumer engagement platform, today announced the completion of site selection for the first 11 mPower EV charging locations in the State of Virginia. These initial locations will be in Toano, Quinton, Petersburg, Chesterfield, Sandston, and Powhaton. Each site will have an average of four level 2 chargers branded under the mPower name.
These initial sites were selected based on their proximity to high traffic roadways, affiliation with major regional and national brands, and onsite amenities such as restaurants, car washes and convenience stores that could benefit from the mPower consumer engagement platform. The sites feature three leading gas station brands, with four BP, four Shell, and three Sunoco locations. Notable food and convenience brands at these mPower sites include McDonald’s, Pizza Hut, Wendy’s, Subway, Huddle House, and 7-11.
“With 1,440 sites to choose from in Virginia, we started our installation cycle with high quality locations that also had major quick serve restaurant (QSR) or convenience store brands on premises,” explained mPhase Chairman and CEO Anshu Bhatnagar. “This is part of an overall strategy to build use cases at franchise locations of major national and regional chains to increase our visibility at corporate headquarters. As we roll out our network, we will be bringing EV drivers to the doorstep of McDonald’s, Subway, and other prime locations that can benefit from our industry-first consumer engagement and EV charging ecosystem. We believe that the effectiveness of our platform will open a lot of doors as we replicate this plan in many different parts of the country.”
Site assessment is scheduled to begin within a week, with installation to follow. Overall, the Company believes that the current pipeline can support more than 430 EV charging sites in Virginia during the initial phase of the mPower roll-out.
About mPhase Technologies
mPhase is an emerging EV-centric technology company focused on consumer engagement using data analytics and artificial intelligence to create a monetizable link between consumers and retailers at opportunistic times and places. The Company is currently building a connected ecosystem of EV charging, 5G internet connectivity and software solutions that optimize consumer engagement within the framework of a SaaS/TaaS model. Branded under the mPower name, this ecosystem will empower the way people shop, dine, fuel and interact with the world to create a richer life experience. The mPower ecosystem is tailored to each individual’s tastes and needs, with particular emphasis on empowering tomorrow’s green consumer. mPhase also has data driven business units generating recurring revenue outside of its consumer ecosystem, in addition to legacy nanobattery technology and a related patent portfolio that are slated for future development. Additional information can be found at the mPhase website, www.mphasetech.com; and at www.mpower.co. Please follow us on twitter: @mPhase_Tech for the latest updates.
Investor Contact:
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