Latest / Financial Survival Network / How EVs Will Charge Themselves - Michael Farkas #6241

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How EVs Will Charge Themselves - Michael Farkas #6241 · Financial Survival Network

• 0:00
  Speaker 1: So that is pended technology that we have that none
• 0:02
  Speaker 1: of the other wiless technology EB charging technology companies has.
• 0:06
  Speaker 1: And if you look at where the markets are, if
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  Speaker 1: you don't have bi directional wired charging today, you're pretty
• 0:13
  Speaker 1: much disqualified from all of the major programs, utility programs
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  Speaker 1: and the like because it's a core functionality of charging
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  Speaker 1: and having what's called smart cities and having those capabilities.
• 0:23
  Speaker 1: We don't have the technology for wired bi directional charging,
• 0:27
  Speaker 1: but we have the pen on it.
• 0:29
  Speaker 2: You are listening to Carrie Let's Financial Survival Network, where
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• 0:58
  Speaker 2: listening to and watching the Financial Survival Network.
• 1:02
  Speaker 3: I'm your host, Terry Lutz. Well.
• 1:05
  Speaker 4: Hearing a lot about alternative energy. Even with the new administration,
• 1:12
  Speaker 4: there's going to be changes, but the fact is EV's
• 1:16
  Speaker 4: all of that are here to stay. And someone who's
• 1:20
  Speaker 4: at the forefront of this trend, Michael Farcas, is with
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  Speaker 4: us now the company is next NRG.
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  Speaker 3: Michael is great to have you on.
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  Speaker 4: So looking at your website, I see you're particularly behind
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  Speaker 4: wireless ev charging. Could tell us a little bit about
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  Speaker 4: that and your approach to it.
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  Speaker 1: Excellent, Yes, thank you for having me. Yes, one of
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  Speaker 1: our focuses is wireless EV charging. As you may know
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  Speaker 1: my background, I was being a founder of Blink charging,
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  Speaker 1: so I've got over fifteen years in the EV charging
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  Speaker 1: business and without a question, in the future of the
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  Speaker 1: electi vehicle charging is wireless. Every ev manufacturer is now
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  Speaker 1: not only testing it, it's gone through their labs already,
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  Speaker 1: but now have that in their production plans. It's the
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  Speaker 1: most amazing way to fuel your vehicle. And even the
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  Speaker 1: Tesla cyber Taxi that was just be viewed not too
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  Speaker 1: long ago, the sole way of charging that vehicle is
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  Speaker 1: wireless charging. You don't want to add, you know, human
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  Speaker 1: intervention into an economous vehicle, are are right? Our approaches
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  Speaker 1: is very simple. We have four patents and an evy
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  Speaker 1: charging space and we're using that technology to really leverage
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  Speaker 1: ours our position and help us deploy technology where we're
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  Speaker 1: going to own and operate these facilities in the field
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  Speaker 1: as well as using our smart micro good technology to
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  Speaker 1: produce the energy that that that's supplying the field to
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  Speaker 1: the wireless roads.
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  Speaker 4: Okay, so obviously there's other companies working on the same thing.
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  Speaker 3: Tesla is working on it. How do you.
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  Speaker 4: Survive in the world where you have the giant Tesla.
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  Speaker 1: Well, Tesla license technology for the wireless functionality in their vehicles,
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  Speaker 1: So we plan on ultimately licensing our technology to others
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  Speaker 1: as well. Yes, we are not the only company in
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  Speaker 1: the wireless charging space. There's another one out of Israel
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  Speaker 1: which is really one of the pioneers called Electrion, and
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  Speaker 1: they trade on the right tell it is stock exchange
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  Speaker 1: and they treat for over eight hundred million dollars in
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  Speaker 1: total value. When you look at our technology versus there's
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  Speaker 1: very complementary in certain ways. But of the one of
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  Speaker 1: the functionality that we have one depends that we have
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  Speaker 1: is on bidirectional wireless charging. It's called vehicle to grid.
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  Speaker 1: It would allow us for the charging network to be
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  Speaker 1: able to put electric band from the grid into the
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  Speaker 1: vehicle and also from the vehicle into the grid. Is
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  Speaker 1: that is correct? So that is that is panded technology
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  Speaker 1: that we have that none of the other wireless technology
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  Speaker 1: eb charging technology companies has and if you look at
• 4:00
  Speaker 1: where the markets are, if you don't have bi directional
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  Speaker 1: wired charging today, you're pretty much disqualified from all of
• 4:07
  Speaker 1: the major programs, utility programs and the like, because it's
• 4:11
  Speaker 1: a core functionality of charging and having what's called smart
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  Speaker 1: cities and having those capabilities. We don't have the technology
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  Speaker 1: for wired bi directional charging, but we have the pent
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  Speaker 1: on it. So most companies, whether you're on the charging side,
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  Speaker 1: network right side, bridge side, or even the vehicle side,
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  Speaker 1: you're gonna be you're gonna be violating our pens. Fully,
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  Speaker 1: we plan on collaborating with others and having others being
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  Speaker 1: able to license our technology.
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  Speaker 4: Really an exciting time As an EV owner myself, I've
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  Speaker 4: had three of them in the past few years. Love
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  Speaker 4: them and either love them or hate them, but if
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  Speaker 4: you've driven them, you love them. So you know the
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  Speaker 4: whole thing of the autonomous vehicle, it's coming here. It's
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  Speaker 4: going to be here much faster than anybody thinks possible.
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  Speaker 4: And that just really fits in with the entire concept
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  Speaker 4: of the wireless charger because you know right now, like
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  Speaker 4: mostly I charge it in my garage, but on occasion
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  Speaker 4: I've got to use a public charger and those are
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  Speaker 4: limited and it's not unusual. There's one near me in
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  Speaker 4: the Westbomd Beach. It's always got people there during the
• 5:24
  Speaker 4: day you wait online, so I've learned to avoid that one.
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  Speaker 4: But the whole wireless concept will put that in the past,
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  Speaker 4: won't it.
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  Speaker 3: That is correct.
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  Speaker 1: You will not have to go somewhere to fuel your
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  Speaker 1: vehicle as you're driving. You're going to be able to
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  Speaker 1: fuel your vehicle.
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  Speaker 3: You'll be able to pull.
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  Speaker 1: Into a lane that's marked as a wireless charging lane,
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  Speaker 1: and as you're driving.
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  Speaker 3: Your car and your fuel, you'll call me fueled.
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  Speaker 1: In addition, you'll be parking spots that'll be lit up.
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  Speaker 1: I mean, all you do is pull your car into
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  Speaker 1: that parking spot, get out of your par as you
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  Speaker 1: normally would, and again no interaction whatsoever. You're car well,
• 6:00
  Speaker 1: then have the transaction authenticated. The network will dispense the
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  Speaker 1: electricity and you'll be sent to SMS or text of
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  Speaker 1: how many killout hours your car was filled up with
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  Speaker 1: and what the charges were. Imagine a day when you
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  Speaker 1: buy a car and you put in your payment system,
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  Speaker 1: whether it's a credit card or mobile app, mobile wallet,
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  Speaker 1: and you never ever have to interact with I'm in
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  Speaker 1: the process ever again with your vehicle. That's the future,
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  Speaker 1: and it's not that far in the future.
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  Speaker 3: You know.
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  Speaker 4: One of the great things is like and I'm never
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  Speaker 4: going to a gas station. I mean, that is so good.
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  Speaker 4: And the times I go to the public charging thing,
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  Speaker 4: it's all autonomous. You just plug it in. But you
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  Speaker 4: will not miss going to a gas station if you
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  Speaker 4: have an EV's and we're getting there pretty quickly.
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  Speaker 1: It's it's not far off. You're gonna start seeing next
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  Speaker 1: generation of certain evs. They're going to start counting with
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  Speaker 1: these wireless charging capabilities. The technologies is, the communication protocols
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  Speaker 1: exists and now just an deutroduction of the technology into
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  Speaker 1: the marketplace.
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  Speaker 4: And they're going to have retrofits as well, because you
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  Speaker 4: got tens of millions of existing vehicles that don't have
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  Speaker 4: the wireless capability. So the profit motive, you know, that's
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  Speaker 4: the next thing you should be working on on once
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  Speaker 4: you sell this off, is retrofitting existing evs.
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  Speaker 3: But definitely the future.
• 7:28
  Speaker 4: So talk to us about microgrids, Michael Significance.
• 7:35
  Speaker 3: First, stuff, y'all in it. What is a micro grid
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  Speaker 3: and why should you care about it? Okay?
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  Speaker 1: Micro rad is the ability of producing electricity locally afficiently,
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  Speaker 1: and we have certain technology that allows us to do
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  Speaker 1: that more efficiently than almost any other company that's out
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  Speaker 1: there today.
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  Speaker 3: Part of the.
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  Speaker 1: Relationship with acquiring some of the technology that we had,
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  Speaker 1: a component of it had to do with wireless ev
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  Speaker 1: charging and the other had to do with utility operating
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  Speaker 1: platform technologies and smart microgrid technologies. And these technologies were
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  Speaker 1: developed under an eight hundred plus million dollar Department of
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  Speaker 1: Energy grant that was done in collaboration of next Terra,
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  Speaker 1: FPL and FIU, and we receive the commercial rights to
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  Speaker 1: our acquisition of the company that FIU licensed that technology too.
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  Speaker 1: And there's two ways for us to monetize the technology.
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  Speaker 1: One is literally taking what the same technology that was
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  Speaker 1: applied in the past and created such an efficient network
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  Speaker 1: out there and apply that to other utilities as well.
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  Speaker 1: And it's not about renewables. It's really agnostic as to
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  Speaker 1: have right and the energy sources are being produced. It's
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  Speaker 1: more of being more efficient in doing so, being able
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  Speaker 1: to match supply and demand using artificial intelligence and machine learning,
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  Speaker 1: and had to literally permeate every milk and cranny of
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  Speaker 1: the utility rate and making that utility ridd much more
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  Speaker 1: efficient than it ever was or ever has been anywhere
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  Speaker 1: in the world. That's the technology what we have, and
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  Speaker 1: we have a model of being able to replicate it
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  Speaker 1: for other utilities. In addition, we're able to shrink down
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  Speaker 1: that technology because it's modular in scale and be able
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  Speaker 1: to deploy those that technology locally. We're talking about anywhere
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  Speaker 1: from five megawatts, you know, to projects that we're doing
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  Speaker 1: even seventy five megawatts now in scale, right, I'm looking
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  Speaker 1: at anywhere from like twenty five to thirty million dollars
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  Speaker 1: to about one hundred and fifty million dollars in project
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  Speaker 1: scale and summons. And because of the cash flow and
• 9:29
  Speaker 1: the definitive cash flow of those assets, you're really able
• 9:32
  Speaker 1: to finance them using you know, you know, at the
• 9:35
  Speaker 1: subsidiary level more at SPD level, were having to constantly
• 9:38
  Speaker 1: issue shares in the right, can company issued debt these
• 9:42
  Speaker 1: assets once they're turned on, the data turned on, ducing revenues,
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  Speaker 1: defining revenues, and those revenues are typically purchase prior to
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  Speaker 1: zing and putting a shovel on the ground, and those
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  Speaker 1: contracts are typically you know, twenty five even thirty five
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  Speaker 1: years in month. So the smart micro business for us
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  Speaker 1: is something that's really amazing. We have a lot of
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  Speaker 1: money in our pipeline already of being able to deploy
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  Speaker 1: smart microgrid technologies throughout the country, some of it with
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  Speaker 1: Native American tribes. And there's a lot of amazing government programs,
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  Speaker 1: amazing subsidiary subsidies where we're able to you know, have
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  Speaker 1: a bunch of the cost of deployment costs covered through
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  Speaker 1: you know, bonization of the creation or theonization of tax
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  Speaker 1: credits and really help us, you know, cover the cost
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  Speaker 1: of those projects and new cash we are they able
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  Speaker 1: to then cover you know, deck coverage and maintenance and
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  Speaker 1: really do well.
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  Speaker 3: For us over the long term. Ouch.
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  Speaker 4: So question for you, like the new administration has demonstrated
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  Speaker 4: hostility towards tax credits for evs et cetera.
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  Speaker 3: Question is how does that affect you.
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  Speaker 1: It doesn't.
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  Speaker 3: We're not an EV charging company.
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  Speaker 1: Most of our businesses and I'm fueling vehicles, you know,
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  Speaker 1: whether it's providing them with the gasoline that they need.
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  Speaker 1: My customers, you know, at large fleet operators that we
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  Speaker 1: deal with as well as you know, producing smart microgrood technologies.
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  Speaker 1: So evis you know again it's it's a component of
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  Speaker 1: our business. We focus on wireless EV charging and that
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  Speaker 1: that's going to develop, you know, with or without government subsidies.
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  Speaker 1: Maybe a little bit slower, you know, without a question.
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  Speaker 1: But we look at as a global market and when
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  Speaker 1: you look at EV penetration.
• 11:22
  Speaker 3: Worldwide, so it's so it's not.
• 11:24
  Speaker 1: Sold down and the subsidies, you know, they're not going
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  Speaker 1: to disappear for energy generating that bess.
• 11:29
  Speaker 3: Yeah, it is one thing.
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  Speaker 1: But with setting the government, you know, even you know
• 11:33
  Speaker 1: with Trump is clear on the fact that this country
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  Speaker 1: needs a lot more energy generation than it currently has.
• 11:40
  Speaker 1: And you're talking about two three and some people that
• 11:42
  Speaker 1: they say five x of where we are today, how
• 11:44
  Speaker 1: you are to report ten x? That's really our market.
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  Speaker 1: Our technology allows the utility today, no matter which one
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  Speaker 1: it is, everyone in the country to operate more efficiently
• 11:53
  Speaker 1: unless use less fuel to produce the same amount of
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  Speaker 1: electricity that they need to satisfy demand. You're talking about
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  Speaker 1: billions and billions and tens of billions of dollars in
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  Speaker 1: savings that if our technology is implemented immediately, it can
• 12:06
  Speaker 1: be easily accomplished. That's something that's necessary for every utility
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  Speaker 1: and no matter how they produce electricity, even in countries
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  Speaker 1: like Saudi Arabia, if you're burning petroleum to generate your
• 12:16
  Speaker 1: electricity using our technology, you will need to burn a
• 12:19
  Speaker 1: lot less petrole agum to satisfy that exact same demand.
• 12:22
  Speaker 3: So it's a.
• 12:22
  Speaker 1: Massed as to fuel sources. So again, our technology is
• 12:27
  Speaker 1: applicable not only to legacy right deployed energy generating assets,
• 12:32
  Speaker 1: but also to newly deployed and an utility scale as well,
• 12:35
  Speaker 1: and also on the smart microgrid and and us you
• 12:38
  Speaker 1: know a lot of our future revenues and and you
• 12:41
  Speaker 1: know when we talk about firm revenues with with double
• 12:44
  Speaker 1: A and triple A companies, unicipalities, utilities, these are these
• 12:50
  Speaker 1: are long term contracts where we're taking our technology, deploying
• 12:54
  Speaker 1: it in the local community, right understood, generating electricity locally
• 12:59
  Speaker 1: and selling it whether it's to the utility in local
• 13:01
  Speaker 1: area or selling it to the universality. So the Trump
• 13:05
  Speaker 1: programs are not really impacting that side of a business.
• 13:08
  Speaker 1: There may be less subsidies and grants and rebates, but
• 13:11
  Speaker 1: we're going to get it from tax incentives and from
• 13:14
  Speaker 1: you know, all.
• 13:16
  Speaker 3: Of that, huh.
• 13:16
  Speaker 1: Also from the depreciation aspect, we don't see that DISAPPEARI yes,
• 13:20
  Speaker 1: So we're we're in a good spot. That's by this way,
• 13:23
  Speaker 1: if you buy to our to our way of financing
• 13:26
  Speaker 1: our deployments, we're able to monetize depreciation and the tax credit,
• 13:31
  Speaker 1: and that covers almost half of the project costs. And
• 13:34
  Speaker 1: then we're able to use conventional decks to finance.
• 13:37
  Speaker 3: The other half.
• 13:38
  Speaker 1: So we don't have to you know, share self stock
• 13:41
  Speaker 1: at the parent level or issue dead at the parent
• 13:43
  Speaker 1: level to fund any and all of these projects.
• 13:45
  Speaker 3: Really fascinating opportunity. I like it.
• 13:48
  Speaker 4: The ticker symbol n x x T on the Nasdaq
• 13:53
  Speaker 4: and the website which you should go to is n
• 13:56
  Speaker 4: e x T n RG dot com. And if you've
• 14:00
  Speaker 4: got a question for Michael or myself, shoot me an email.
• 14:03
  Speaker 4: Klatcarrielots dot com. You'll find a link to next nrg's
• 14:09
  Speaker 4: site in the show notes to this interview on Financial
• 14:12
  Speaker 4: Survival Network dot com. And all we ask is when
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  Speaker 4: signed up now Obviously not everybody's getting it, but ay,
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  Speaker 4: seventy thousand subscribers is pretty darn good. Michael, appreciate your
• 14:34
  Speaker 4: stopping by explaining the company to us. I love the
• 14:37
  Speaker 4: fact it's a Florida company and lots of sunshine here,
• 14:41
  Speaker 4: so lots of free energy. All we got to do
• 14:44
  Speaker 4: is get to it right, correct, All right, take care, Thank.
• 14:48
  Speaker 3: You, be well.
• 14:49
  Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network, your
• 14:53
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• 14:57
  Speaker 2: Financial Survivalnetwork dot com. Financial Survival Network now more than
• 15:03
  Speaker 2: ever