7-Eleven to Install 500 EV Chargers by Next Year’s End

The shift towards electrification and clean energy is not limited to only automakers and electric vehicle (“EV”) makers. 7-Eleven Inc., an Irving, Texas-based convenience retailer with hundreds of stores across the United States and Canada has unveiled plans that will push the chain to the forefront of sustainability. In a move that will accelerate its environmental conservation goals by years, the convenience giant has announced that it plans to construct a minimum of 500 EV charging stations at 250 stores in the United States and Canada by the end of 2022.

The 500 DC Fast Charging (“DCFC”) ports are expected to be a major addition to the 22 already existing charging stations installed at 14 7-Eleven stores in 14 countries. Once the installation of these DCFC ports is complete, the Texas-based compay claims that it will be among the most widespread and compatible EV fast-charging networks in America, rivaling any such systems that have been installed by most retailers in the country. Aside from high upfront costs, range anxiety is one of the main deterrents against going green for most drivers, and such a network of fast-charging infrastructure would see the convenience giant attract tons of EV drivers who would like to recharge while on the road.

According to company president and CEO Joe DePinto, 7-Eleven is always striving to come up with novel ideas and develop new technologies to serve their customers better. By installing 500 fast-charging stations, the company aims to make charging much more convenient for their customers and to play a role in the widespread adoption of alternative energy vehicles. It is the right thing to do, DePinto says, and this sentiment echoes 7-Eleven’s efforts to become a leader in green energy and sustainability, especially in the retail sector.

The Texas-based retailer had previously pledged to reduce its CO2 emissions by 59% by 2030, but it managed to achieve part of this goal nearly eight years in advance of its planned schedule, reducing its carbon emissions by 20% in 2019. Additionally, 7-Eleven has stated that a minimum of 800 of its stores in Texas and in excess of 300 stores in Illinois are powered by wind energy. An additional 150 stores in Virginia run on hydroelectric power while 300 of its stores in Florida rely on solar power.

7-Eleven operates more than 79,000 convenience stores worldwide, with more than 10,000 of them in North America. So while its efforts at sustainability may seem like a drop in the ocean, this is a great start, and it is certainly more effort than any other retailer has put into reducing its carbon footprint.

As industry actors such as Net Element (NASDAQ: NETE) look to increase their EV offerings, the complementary work being done by 7-Eleven and other corporates could make EV adoption swifter than initially expected.

NOTE TO INVESTORS: The latest news and updates relating to Net Element (NASDAQ: NETE) are available in the company’s newsroom at http://ibn.fm/NETE

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