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Micromobility startup Helbiz to go public via a SPAC, and will expand into ghost kitchens
Micromobility startup Helbiz, which now operates across Europe and the USA, is merging with a special purpose acquisition company (SPAC) to become a publicly listed company, giving it a war chest to potentially roll-up smaller competitors in the space, as well as the resources to expand into “cloud” or “ghost” kitchens as part of a move into food delivery.
Helbiz intends to merge with GreenVision Acquisition Corp. (Nasdaq: GRNV) in the second quarter of 2021. The combined entity will be named Helbiz Inc. and will be listed on the Nasdaq Capital Market under the new ticker symbol, “HLBZ.”
The transaction includes $30 million PIPE anchored by institutional investors and approximately $80 million in net proceeds will be fed into Helbiz’s micromobility and advertising businesses, which have 2.7 million users.
Helbiz says the merged entity will have a valuation of $408 million, and by run Helbiz’s existing management under CEO Salvatore Palella.
Palella said: “Through this transaction, we’re committed to fulfilling our vision in revolutionizing transport by using micromobility to become a seamless last-mile solution.”
He further revealed to me that the company plans to establish “ghost kitchens” in Milan and Washington, DC later this year, with the aim of introducing a five-minute delivery time.
Helbiz has tried to differentiate itself from other players like Lime and Bird by offering e-scooters, e-bicycles and e-mopeds all on one platform.
Key to Helbiz’s offering is an integrated geofencing platform that tends to appeal to city authorities who don’t want scooters left in random places, as well as a swappable battery that enables easier charging of the devices. Its subscription service allows users to take unlimited 30-minute trips on its e-bikes and e-scooters every month.
In Europe the company currently operates a fleet of e-scooters and e-bicycles in Milan, Turin, Verona, Rome, Madrid and Belgrade, and in the U.S. it operates in Washington, DC, Alexandria, Arlington and Miami.
David Fu, chairman, and CEO of GreenVision, commented: “Helbiz has distinguished itself as the only company to offer e-scooters, e-bicycles, and e-mopeds all on one user-friendly platform… Helbiz has a proven and capital-light business model that combines hardware, software, and services with extensive customer relationships.”
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Ford’s all-electric SUV is officially the ‘Mustang Mach-E,’ and you can reserve one starting Nov. 17
Ford has revealed the official name of its forthcoming EV SUV, which has a Mustang lineage and will be officially revealed on November 17 in LA. The new vehicle is called the Mustang Mach-E, and following its official unveiling (hosted by Idris Elba, by the way), you’ll be able to actually sign up online and reserve one by putting down a $500 deposit.
The reservation system will include access to a limited “First Edition” set of cars, about which Ford says it will provide details during the launch event. The deposit is also fully refundable, in case you get cold feet, and people who put down deposits will later get the opportunity to actually configure their vehicle prior to delivery. During the reservation process, you also select your preferred Ford dealer, presumably for eventually picking up the car.
Ford’s teases of the vehicle so far suggest a crossover-style electric SUV, and Ford has put up some collateral material on the web with a few additional clues about what it will offer, including a targeted EPA range rating of “at least” 300 miles, and a charging rate of around 47 miles in just 10 minutes with a 150kW DC fast charger, with two years of free charging across Ford’s EV charger network included.
Below, you can see all the hints and glimpses of the car we’ve gotten from Ford so far, and you can probably fill in the gaps via imagination and reference to the existing Ford Mustang, but November 17 will finally reveal all, and we’ll definitely have coverage here on TC to satisfy your curiosity.
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Shell’s first Greenlots electric vehicle fast charger lands in Singapore
Royal Dutch Shell, the energy giant known for its fossil fuel production and hundreds of Shell gas stations, is creeping into the electric vehicle-power business.
The company’s first DC fast charger from its newly acquired company Greenlots launched Monday at a Shell gas station in Singapore. Greenlots, an EV charging startup acquired by Shell in January, installed the charger. This is the first of 10 DC fast chargers that Greenlots plans to bring to Shell service stations in Singapore over the next several months.
The decision to target Singapore is part of Greenlots’ broader strategy to provide EV charging solutions across all applications throughout Asia and North America, the company said. Both Shell and Greenlots have a presence in Singapore. Greenlots, which is based in Los Angeles, was founded in Singapore; and Shell is one of Singapore’s largest foreign investors.
Singapore has been promoting the use of electric vehicles, particularly for car-sharing and ride-hailing platforms. The island city-state has been building up its EV infrastructure to meet anticipated demand as ride-hailing drivers and commercial fleets switch to electric vehicles.
Greenlots was backed by Energy Impact Partners, a cleantech investment firm, before it was acquired by Shell. The company, which combines its management software with the EV charging hardware, has landed some significant customers in recent years, notably Volkswagen. Greenlots is the sole software provider to Electrify America, the entity set up by Volkswagen as part of its settlement with U.S. regulators over its diesel emissions cheating scandal.
Clarification: Shell has other EV chargers. These are the first through its newly acquired company Greenlots.
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Nissan and EVgo to add 200 fast chargers as more electric vehicles hit US roads
Nissan and EVgo said Tuesday they will install another 200 DC fast chargers in the United States to support the growing number of consumers who are buying electric vehicles, including the new Nissan Leaf e+ that came to market earlier this year.
The 100 kilowatt DC fast-charging stations will have both CHAdeMO and CCS connectors, making them accessible to more EV drivers. The inclusion of both charger connectors is logical; it’s also notable for Nissan, once the primary advocates for CHAdeMO chargers.
The announcement builds off of the companies’ six-year partnership, which included building out a corridor of EV chargers along Interstate 95 on the East Coast, as well as between Monterey, Calif., and Lake Tahoe.
Nissan says it has installed more than 2,000 quick-charge connectors across the country since 2010.
Plans to add another 200 fast chargers follows the launch of the 2019 Nissan Leaf e+. The Nissan Leaf e+, which came to the U.S. and Canada this spring, has a range of 226 miles and fast-charging capability.
This new version of the Leaf all-electric hatchback has 40% more range than other versions thanks to a 62 kilowatt-hour battery pack. That 226-mile range puts the Leaf e+ just under the Chevy Bolt EV, which has a 238-mile range, the Kia Niro EV with 239 miles and the Tesla Model 3 standard range plus with 240 miles.
“Given the tremendous driver response to the 2019 long-range all-electric LEAF, Nissan and EVgo will accelerate fast charging by committing to a multi-year charger construction program that will continue to expand fast-charging options for EV drivers across the country,” Aditya Jairaj, director, EV Sales and Marketing, Nissan North America said in a statement.
The companies also plan to partner on a marketing campaign to sell consumers on the benefits of EVs, and for Nissan, hopefully persuade more to buy its Nissan Leaf Plus. Nissan’s July sales figures were down compared to the same month last year, a slump that has affected the Leaf, as well.
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How to go to market in middle America
Deborah Eisenberg is the founder of TechStarts PR, where she helps technology companies both big and small hone their message and reach their audience.
There comes a time for many startup companies where they either realize they need to do a nationwide rollout, or they need to actively target buyers in the middle of the country. If you are a startup on either the East or the West Coasts, it’s worth thinking about how this market might present its own set of unique challenges, and how you plan to overcome them.
There are a lot of misconceptions about what some people call “flyover country,” and as a San Francisco native who spent two decades in New York, Washington DC, and Boston before moving to Pittsburgh, I can assure you they are almost all wrong. Without getting into specifics, the reality of “middle America” is that it’s the same as anywhere else.
Income, education, world view, and waistlines are all varied. It’s pretty accurate that San Francisco possesses a culture obsessed with fitness and entrepreneurship, but California isn’t necessarily all like that, and if you think it is, I encourage you to go to Bakersfield, the Central Valley, or Eureka sometime.
In addition, just because the stereotypes are wrong doesn’t mean there’s nothing different about doing business here. As you think about how to conduct your rollout, here are some things you should consider:
Table of Contents
Research
As with any market, research is key since it informs every other aspect of the rollout. Start by looking into who your competition is.
Since there are fewer VC-backed startups in middle America, and smaller companies tend to get less press, the research may be harder. However, there are some major universities that are actively putting money into their own Entrepreneurship programs and those spinoffs often do very well.
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Uber for 911 transport is a horrible idea
The Washington D.C. Fire and EMS Department is considering a plan to use Uber to transport low priority 911 callers, according to NBC Washington. It’s a horrible idea.
Washington’s plan is to hire a team of nurses who could evaluate a caller’s condition over the phone and direct them to an Uber if they are deemed stable. Already this is odd given that the purpose of an… Read More
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