October 2023 Issue Highlights

MAVERIK ACQUIRES KUM & GO AND SOLAR TRANSPORT

SALT LAKE CITY, UT. — Maverik and its parent company, FJ Management, have closed on their acquisition of Kum & Go, a purchase announced in April.

Included in the deal are Kum & Go's convenience store chain with over 400 locations across 13 states, formerly owned by the Krause Group.

Maverik also acquired Solar Transport, a tank truck carrier and logistics provider also owned by the Krause Group.

Maverik officials said they will convert the Kum & Go c-stores to the Maverik brand in Utah, Colorado, Idaho, and "select test sites" in Wyoming, beginning in January.

The combined assets of Maverik and Kum & Go make Maverik one of the largest convenience store operators in the Rocky Mountains and the 12th largest convenience store chain in the United States.

Prior to the acquisition, Maverik operated with approximately 400 locations across 12 western states and was the largest independent fuel marketer in the Intermountain West. Maverik service stations and convenience stores were already in place in Arizona, California, Colorado, Idaho, New Mexico, Nebraska, Nevada, Oregon, South Dakota, Utah, Washington, and Wyoming. The Kum & Go acquisition adds operations to an additional 8 states.

AUTOMAKERS JOIN TO CREATE EV CHARGING NETWORK

TORRANCE, CA. — BMW, Ford, and Honda have joined forces to create ChargeScape LLC, a new EV charging network in the United States and Canada.

According to the automakers, ChargeScape will offer a single charging system that can be used across the vehicles of all the participating manufacturers. The new company is equally owned by BMW Group, Ford Motor Company and American Honda Motor Co., Inc.

Participating EV customers will have the potential to earn discounts by charging at "grid-friendly" times. Electric vehicle customers will also "eventually" have the opportunity to sell the energy stored in their EV batteries to the grid during times of peak demand through vehicle-to-grid (V2G) applications.

ChargeScape will sell the energy data from customers charging their EVs to the utilities. The company will track data including aggregated demand response, alignment of charging and EV battery utilization with off-peak, low-cost hours and the availability of high renewable energy.

ChargeScape officials noted, "Due to the anticipation of high levels of EV customer enrollment, these energy services are expected to be a cost-efficient, operational benefit for electric utilities."

ChargeScape intends to offer EV charge information and scheduling through the many channels automakers have with their customers, including use of apps, texting, email, and direct communication with their EV customers' vehicles. They will also be offering communication with EV owners as a service they can provide to local utilities.

"ChargeScape aims to accelerate the expansion of smart charging andvehicle-to-everything solutions all over the country," said Thomas Ruemenapp, vice president of Engineering, BMW of North America, "while increasing customer benefits, supporting the stability of the grid and helping to maximize renewable energy usage." He added, "We are looking forward to the opportunities this collaboration will create."

The formation of ChargeScape is pending regulatory approvals, with thecompany expected to be operational early next year.

FIRSTELEMENT FUEL GETS $7.7 MILLION GRANT

IRVINE, CA. — FirstElement Fuel Inc., which develops and builds hydrogen fueling stations for motor vehicles, has received a $7.7 million grant from the California Energy Commission.

The funds will be used to increase hydrogen refueling equipment capacity at the company's plant in Santa Ana, CA. FEF manufactures components and systems for hydrogen refueling stations at the plant, including liquid hydrogen cryopump systems.

FEF was awarded the grant through the CEC's Zero-Emission Transportation Manufacturing competitive grant solicitation. FEF will also contribute at least $14 million to the project.

In addition to manufacturing equipment, FEF operates a network of 40 hydrogen refueling stations, including 85 dispensers, fueling hydrogen-powered vehicles across California. The company is also developing a network of stations to serve heavy duty trucks powered by hydrogen, starting with a high-flow refueling station in Oakland, CA., being built as part of a joint project with the California Air Resources Board and the CEC.