Earth Day Canada is building the infrastructure of the future, and using community bonds as a way to engage all Canadians in the electric vehicle transition.
Seven in 10 Canadians who plan to buy a new vehicle within the next five years are likely to buy an electric vehicle (EV). “The change is coming,” says Pierre Lussier, President of Earth Day Canada, “The Canadian Government has pledged to ban the sale of gas cars by 2035, and major car manufacturers like Volkswagen and Honda have made similar commitments to phase out sales of combustion engines.”
While the electric car industry is evolving rapidly, charge points aren’t always easy to find. This unmet need is why Earth Day Canada is building a network of 100 fast-charging stations that will stretch across New Brunswick and Quebec.
For the past 25 years, Earth Day Canada has been supporting Canadians to lower their impact on the environment. In recent years, the organization has had a strong focus on mobility. They developed a ride-sharing application used across Quebec, and partnered in creating the first zero-emissions refrigerated lightweight truck in Canada.
“We are actively working to develop new ways for mobility because we acknowledge that at the centre of the climate change issue is the way our society moves. We want to be part of getting EVs to the masses and democratizing the needed infrastructure,” says Pierre.
The EcoCharge network will extend to areas where there is currently a lack of fast charging equipment; not only in the metropolitan areas of Montreal, Quebec City, Trois-Rivières and Sherbrooke, but also in less populated areas, including Victoriaville, Gaspé, Rouyn-Noranda, Chelsea, Saint-Félicien. The locations of the EcoCharge stations, which will be installed by the end of 2021, can be viewed here.
To bring this project to life, Earth Day Canada has brought together a network of dedicated partners, including IGA (Sobeys), the Quebec Association of Electric Vehicles (AVEQ), Natural Resources Canada, Investment Quebec, Fondaction, as well as our team at Tapestry Community Capital. Jointly, these partners will support in financing the $14.75 million project.
The Community Bond campaign
Together, Earth Day Canada and Tapestry, have developed a $2 million investment campaign that will mobilize private capital through the use of community bonds. “They are the perfect tool for our vision,” explains Pierre, “because this isn’t just about financing, it’s also about building a community around these service centres.”
The investment campaign will be open to all Canadians interested in investing with impact. In addition to the environmental return of the project, community bonds will offer investors 4% interest per year for a period of 7 years or 3.5% per year for a period of 5 years. Investors will also receive free recharging time at EcoCharge stations.
“We are so excited about this campaign,” says Ryan Collins-Swartz, Co-Executive Director of Tapestry. “Not only will this be the largest community bond campaign in Quebec to date, but it will also be the first of its nature across Canada,” he shares. “There is something very powerful about allowing the average citizen to participate, not just emotionally but also financially, in a cause that they believe in. We hope this investment opportunity will give those interested in making a difference the agency to be a part of the positive change.”
A convenient charging experience
Earth Day has partnered with IGA to install the chargers across 50 IGA sites so that customers can charge their vehicles while they shop for groceries. With a speed of 62.5 kW, the charging stations will be the fastest network of charging stations in Canada and will be able to fully charge a vehicle in just 20 minutes. Built for the future, these stations will always be installed in pairs and can be combined to provide 125 kW of electricity to meet the needs of the next generation of electric vehicles.
“Access to charging stations on private property multiplies charging options for citizens, complements public initiatives and reduces pressure on public property” says Montréal City Councillor, Sophie Mauzerolle. The EcoCharge network is a much needed complement to the existing 225 public fast-charging stations already in operation across Quebec.
Building a more sustainable Canada
With more charging infrastructure available, the decision to buy an EV should become an easier one for those looking to make a car purchase. Even at current rates of EV penetrations, within 10 years of operation, EcoCharge will have saved 33,000 tons in GHG emissions.
“We all have a role to play in fighting climate change,” says Pierre, “and we don’t have any more time to wait for solutions.”
“We know that EVs are the way of the future and a part of the answer,” says Pierre, “so, together we are going to build the infrastructure that this country needs to expedite the transition.”
To learn more about how you can participate and invest, visit the EcoCharge website and register for their upcoming Investor Information Session.