Electrive reports that ChargePoint raised the additional 57 million USD through the company's existing ATM (at-the-market) facility.

Rex Jackson, CFO of ChargePoint, stated that the team was able "to secure $232M in funding this quarter, which supports our stated goal of adjusted EBITDA profitability in the fourth fiscal quarter of next year. These raises and our recently announced $150M revolving credit facility are consistent with our announced capital strategy to bolster our balance sheet."

The EV charging infrastructure is one of the most important aspects that drivers take into account before purchasing a battery-electric vehicle. Due to the increase in the number of EVs on the road, some experts believe there are ways to install as many charging stations as possible, such as by using computational models.

Leila Hajibabai, assistant professor in the industrial and systems engineering department at North Carolina State University, said that "ultimately, we feel the model can be used to inform the development of EV charging infrastructure at multiple levels, from projects aimed at supporting local commuters to charging facilities that serve interstate highway travel."

Charging stations can't be implemented everywhere, since the traffic flow needs to be constant enough to justify the investment and then there is also the question of the power grid being able to support the demanded charging speeds.

The computational model tries to identify the most suitable locations for EV charging points in order to minimize travel time for drivers.

The ideal balance when it comes to the implementation of charging stations implies taking into account traffic flow, distances between commutes and also the ability of the power grid to support the charging infrastructure.