TORONTO, Nov. 02, 2021 (GLOBE NEWSWIRE) – Element Fleet Management Corp. (TSX: EFN) (“Element”), the world’s largest vehicle fleet manager, today announced a new electric vehicle charging agreement with Enel X, the advanced energy services arm of the Enel group. This collaboration will provide Element customers with access to Enel X’s residential and commercial smart charging solutions to support electrified fleets across North America.

“We are delighted to welcome Enel X to Element’s rapidly growing network of electrification and energy service providers,” said Chris Gittens, executive vice president of strategic relationships for Element. “Our collaboration with Enel X is the latest example of our continued prudent investment in supporting our customers and leading the fleet management industry through the progressive electrification of automotive fleets over the next decade. “

Thanks to the agreement, Element customers will have access to the Enel X product portfolio turnkey fleet electrification solutions to serve fleets of light and medium-sized business vehicles. One of the main contributors to rising fleet costs in North America has been fuel. By electrifying fleets, companies seek to lower their total cost of ownership while reducing emissions. Enel X’s smart charging wallet and JuiceNet IoT software help Element and its customers optimize charging programs and save on operating expenses.

“As businesses face the complexity of electrifying their fleets and new operating cost structures, Enel X is pleased to partner with Element to provide access to grid-appropriate charging stations in order to to maximize their investments in electric vehicle infrastructure, ”said Carlos Gonzalez, vice president. of global business development Enel X North America. “We value our relationship with Element, a company that is taking bold steps to meet the ever-changing needs of fleet managers as they transition from internal combustion vehicles to battery electric vehicles. “

Today’s announcement supports every company’s commitment to providing fleets with a seamless charging experience for electric vehicles in the United States, Canada and Mexico. Last month, Element Fleet Management in Mexico announced a multilateral agreement with Enel Green Power Mexico, BYD and Electric Mobility Trucks (EMT) to ensure a robust and reliable integrated solution that will take electromobility to the next level and accelerate the adoption of electric fleets in Mexico. .

To learn more about Element’s environmental, social and governance (ESG) strategy reflecting its commitment to sustainable development, download the report Driving towards a better future 2021. For an overview of the strategy, download this infographic.

About Element Fleet Management

Element Fleet Management (TSX: EFN) is the world’s largest automotive fleet manager, providing a full range of fleet services and solutions to a growing base of loyal world-class customers – businesses, governments and non-profit organizations – by North America, Australia and New Zealand. Element benefits from a proven resilient cash flow, a significant portion of which is returned to shareholders in the form of dividends and share buybacks; a scalable operating platform that amplifies revenue growth into profit growth; and a scalable, capital-lean business model that improves return on equity. Element’s services address all aspects of customer fleet needs, from vehicle acquisition and maintenance to disaster recovery and remarketing. Customers benefit from Element’s expertise as the largest provider of fleet solutions in its markets, delivering economies of scale and unmatched knowledge used to reduce fleet operating costs and improve productivity and performances. For more information visit www.elementfleet.com.

About Enel X

Enel X is the global business line of the Enel group offering services that accelerate innovation and stimulate the energy transition. In North America, Enel X has approximately 4,500 commercial customers, spread over more than 35,000 sites and representing approximately $ 10.5 billion in energy costs under management. Enel X North America has approximately 4.7 GW of demand response capacity, more than 70 battery storage projects that are operational and contracted, and nearly 100,000 smart charging stations for electric vehicles. Enel X advises large energy users on energy supply, sustainability and risk management, and has completed 65,000 energy supply events, including 3,000 MW of long-term renewable energy contracts. The company’s intelligent DER optimization software is designed to analyze real-time energy and utility bill data, improve performance, and manage distributed energy assets across a number of value and value streams. different applications. JuiceNet, Enel X’s smart electric vehicle charging platform, provides energy services to utilities, businesses, drivers and automakers. You can find out more about Enel X e-Mobility by visiting: https://evcharge.enelx.com.

Forward-looking statements

This press release contains forward-looking statements regarding Element and its business. These statements are based on the current expectations and views of future events of the management of Element. In some cases, forward-looking statements may be identified by words or expressions such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “possible”. “,” Estimate “,” “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements, including, but not limited to, statements regarding Element’s improvements in current profitability; improvements to the service experience and customer service levels; improved financial performance; improvements in customer retention trends; reduction in operating costs; increased efficiency; Element’s dividend policy and the payment of future dividends; transformation of its core business; value creation for all stakeholders; expectations regarding syndication; growth prospects and expected revenue growth; level of workforce engagement; improvements in the size and quality of income; the hiring and retention of executives; concentration and discipline in investing; balance sheet management and leverage ratio reduction plans; the expected benefits of the balanced scorecard initiative; the share purchases proposed by Element, including the number of common shares to be repurchased, their timing and the acceptance by the TSX of the public tender offer and any renewal thereof; and financial performance expectations. No forward-looking statement can be guaranteed. Forward-looking statements and information, by their nature, are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause Element’s actual results, performance or achievements, or industry results, are materially different from the results, performances or achievements expressed or implied by such forward-looking statements or information. Therefore, readers should not place undue reliance on forward-looking statements or information. These risks and uncertainties include those relating to the ongoing COVID-19 pandemic, risks relating to the fleet management and finance industries, economic factors and many other factors beyond Element’s control. A discussion of the material risks and assumptions associated with this outlook can be found in Element’s Annual MD&A and Annual Information Form for the year ended December 31, 2020, each of which has been filed on SEDAR and can be viewed at ‘address www.sedar. com. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Element assumes no obligation to publicly update or revise any forward-looking statement, whatsoever. either as a result of new information, future events, or otherwise.


        


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