SWTCH Energy Secures $2.75 Million FedDev Ontario investment to accelerate commercialization of EV charging solutions
TORONTO, ON – February 14, 2025 – SWTCH Energy Inc., a leading provider of electric vehicle (EV) charging solutions, announced it has secured a $2.75 million investment from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). This funding will accelerate the commercialization of SWTCH’s EV charging solutions and expand its charging-as-a-service model, improving access to EV infrastructure for multi-tenant, commercial, and workplace properties across North America.
The investment from FedDev Ontario, the Government of Canada’s economic development agency for the region, underscores a strategic commitment to strengthening the domestic EV supply chain. The announcement was made by the Honourable Ruby Sahota, Minister responsible for FedDev Ontario, at the Canadian International AutoShow as part of a broader investment of over $10 million across seven leading Ontario-based manufacturers. This support will enhance Canada’s manufacturing capabilities and leadership in the global transition to electric mobility.
“This investment from FedDev Ontario is a powerful endorsement of our vision to remove the complexities of EV charging for building owners and fleet operators,” said Carter Li, CEO of SWTCH. “We are grateful for the Government of Canada’s support, which will be instrumental in scaling our services and our team right here in southern Ontario. This funding allows us to accelerate our mission, create high-quality local jobs, and solidify Canada’s position as a leader in the clean technology landscape.”
“Canada’s manufacturers and suppliers are a testament to this country’s ingenuity, bringing next-generation Canadian technological and manufacturing innovations to support our growing electric vehicle supply chain,” said the Honourable Ruby Sahota, Minister of Democratic Institutions and Minister responsible for the Federal Economic Development Agency for Southern Ontario. “With this investment, we are not only strengthening but also celebrating the strength of Canadian innovation, showcasing Canadian talent on the global stage.”
Since its founding in 2016, SWTCH has focused on developing intelligent, turnkey solutions that optimize charging and energy usage. The company’s charging-as-a-service model is designed to eliminate the high upfront capital investment and operational burdens for property owners, providing a more attainable and scalable charging solution. This approach is critical for meeting the growing demand for EV charging at multi-family residential buildings and workplaces, which represent areas in need of focused development in the years to come.
