SparkCharge, a Black-owned mobile EV charging solutions company, has received a $1 million investment from non-profit investor Elemental Excelerator.

The investment could help the growing company expand its fleet of electric mobile charging vans, invest in research and development, and grow its team as it looks to aid the country’s transition to electric vehicles.

“We are thrilled to be part of Elemental’s Cohort 12!” SparkCharge founder Joshua Aviv said in a emailed statement. “Being part of the Elemental Ohana allows us greater access to resources and stakeholders promoting equity and clean energy while being a member of one the largest climate tech portfolios in the world. I am excited to join a network of fellow entrepreneurs committed to sustainability and equity in our communities.”

Elemental’s 12th cohort focused on various societal challenges, including sustainable urbanization, building decarbonization, electric vehicle charging, last-mile logistics, recycling optimization, and regenerative food production. The initiative is part of the non-profit’s Project Track, which helps entrepreneurs scale their first project.

SparkCharge founder Joshua Aviv started the company in 2017 to cash in on the energy transition by providing mobile EV charging solutions. He also saw an opportunity to enter the industry to support underrepresented communities. With charging infrastructure unlikely to keep up with the production of electric cars, SparkCharge is filling a need that the government can’t fill alone. It’s estimated that a charging station will be necessary for every 18 EVs produced, according to a statement.

According to the International Energy Agency, at the end of 2022, there were 2.7 million public charging points worldwide, more than 900 000 of which were installed in 2022, an increase of about 55 per cent on 2021 stock. However, electric car sales exceeded 10 million in 2022.

Aviv has raised over $30 million in Series A funding since founding SparkCharge. This year, he joined Elemental Excelerator’s latest cohort program, which supports climate companies in developing new technologies.

The non-profit investor has distributed at least $79 million throughout the program’s lifetime, with $12.5 million handed out this year. “With this latest cohort, Elemental is infusing another $12.5 million into climate solutions and will spearhead the development of 15 transformative technologies crucial for heating and cooling our homes, reimagining critical resource extraction, advancing carbon removal, and transforming our food system. These 15 climate companies will join an existing portfolio of more than 150 investments,” a statement reads.

It adds that this year’s group is led by 60 per cent of the CEOs identifying as traditionally excluded by race or ethnicity, and 33 per cent are led by CEOs who identify as traditionally excluded by gender. Of the $12.5 million distributed, $7.2 million is allocated to companies with traditionally excluded CEOs by gender or race/ethnicity.

Other companies include Capture6, C16, Yard Stick PBC, Edacious, Sunfi, Olokun Minerals, Maui Nui, Kelvin, HIVED, Gradient, and Glacier.

“This year, record heat and climate-fuelled disasters have devastated our communities. Investors and innovators are taking note and are pouring in to address climate change. This year, we met some of the strongest entrepreneurs in our 13 years of investing, and I am thrilled with the boldness and ambition of the companies in this cohort. These are the innovators who are creating the huge companies of the future — ones that invest in workers, reduce pollution, restore our soils, and lower the costs of food and energy,” Elemental founder and CEO Dawn Lippert said in a statement.