In light of the announcement made by the company this past Friday about its subsidiary Green Rain Solar Inc., the Now Corporation (OTC:NWPN) stock could well be in focus among investors this morning. In this feature, we will take a look into the key announcement made last Friday with regards to its electric vehicle (EV) charging station.
Fresh Update
The company announced at the time that through Green Rain it had been successful in the conclusion of the feasibility study with regards to the advanced Level 3 fast charging station. The station in question is located in Island Park in New York. In the news release, Now Corporation noted that the development was a significant one in its aim of taking care of the immediate demand for high-speed EV charging infrastructure in Long Island.
Market Opportunity
It was noted that the market in Island Park and its surrounding areas had remained underserved in terms of adequate EV fast charging solutions. Owing to the rising number of EVs in the area, car owners were in need of accessible and reliable charging infrastructure. The company noted that the new facility would offer three Level 3 DC fast chargers. The chargers would also help reduce charging times significantly, the company added.
