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Dec 14, 2021
[3 min Read]
What is EvBox?: Europe's biggest EV charging-station company.
-190,000 EV charging ports delivered globally around the world up to the year 2020, the most of any company in Europe, with that number expected to be much higher now in 2021.
-$135 million in revenue for 2021.
-Their charging stations look fabulous
-Attractive valuation, much cheaper than its competitors, EvBox will be trading at only 6.7x 2021 EV/Revenue, and 3.6x their 2022 revenue. Compare this to Chargepoint that trades at 76.1x their 2021 revenue, and 43.6x their 2022 revenue.
-A 72% YoY Growth from 2020 to 2021, from $79 million to $135 million in revenue. They have also announced in a statement that they expect revenue for next year to be $252 million, which is a 87% growth from this year.
-EvBox quality of products compared to its peers
-EvBox partners with key companies from various industries around the world to provide charging infrastructure for cities, enterprises, and residents.
-Partners include: France's "Engie"($70 billion dollar company), France's "Rexel"($13 billion dollar company), Sweden's "Vattenfall"($18 billion dollar company), Netherlands 'Eneco'($4,6 billion dollar company), Denmark's 'Norlys'(4,8 billion dollar company), Iceland's 'On Power*, and many others companies around the world from different nations.
-Example of customers include: Ikea, Lidl, DHL, Pfizer, Mcdonalds etc.
-Through partnerships, EvBox has managed to provide cities around the world with charging infrastructure, cities such as Amstardam, Rotterdam, Monaco, New York State and many others.
-European Market Leader: There exists two types of charging methods for electric vehicles, they're called "AC" and "DC". EvBox has a 25% market share of all "AC" public charging in Europe, and a 35% market share of all "DC" charging in Europe, which is just incredible.
-Award winning tech, awards include: 1st place in the CleanTech sector for Netherland's "Deloitte Technology Fast 50" in 2016. Named a Grid Edge Award winner by Greentech Media and highlighted as an industry leader focused on paving the way towards tomorrow's distributed energy systems in 2017. Named a CES Innovations Award Honoree in the category of Smart Energy with the Elvi product in 2018. Also featured on the Inc. 5000 Europe List of fastest-growing private companies in 2018. Named as a leading provider of Public Charging Network and EV Charging Services by Navigant Research in 2019. Won a CES Innovations Award, a iF Design Award, and a Red Dot Award.
-EVBox is set to install 300,000 charging stations across Denmark by the year 2030. The contract is with Denmark's largest energy and telecommunications company Norlys, a company which had $4,8 billion in revenue for 2020. Installations have already started.
State of the spac: Negotiations have been ongoing for almost a year now and are still ongoing today, and I believe that a confirmation on whether the merger will happen or not should be due any minute now. If the negotiations fail, TPGY's stock price would probably go back down to nav at $10 which is only a -2% loss considering the share price is $10,18 at the moment of writing this. However if the negotiations succeed and we get a merger, we could perhaps get a +200% or even +300% gain considering that previously a merger news-article made the share price go from $10 to $33 in only a couple of days earlier this year.
TLDR; $TPGY is negotiating for a merger with EvBox, Europe's biggest EV charging infrastructure company, with $135 million dollars in revenue for 2021, over 190,000 charging stations in 2020, partnerships with many different multi billion dollar companies around the world from different nations including France, Netherlands, Sweden, Denmark, Iceland etc. 300,000 charging stations set to be installed in Denmark by the year 2030, award winning technology, cheaper valuation compared to its peers, proven better quality of products compared to its peers, long list of famous brands as their customers, etc. You can lose -2% if negotiations fail and it goes back to NAV, however if the deal does go through it could explode, maybe to the levels of its previous shareprice of $33 which is a 330% gain. This is a great deal which is the reason I've chosen to invest.
Disclosure & disclaimer: I own 500 shares of TPGY, please do your own due dilligence too.