TORONTO, ON, July 15, 2021 – Element Fleet Management Corp. (TSX: EFN) (“Element”), the largest pure-play automotive fleet manager in the world, today announced a home charging agreement with Qmerit, a leader in green energy transformation with the largest network of EV charger installers in North America. Through its Charging@Home solution, Qmerit will provide Element clients with seamless end-to-end installations and support of EV chargers at individual [and multi-family] residences.
"At Element, we specialize in making the complex simple for our clients in everything we do. With the transition to EVs, this means helping clients navigate considerations such as total cost of ownership trends, tax subsidies, and charging infrastructure for clients’ drivers and electric fleet vehicles," said Chris Gittens, EVP, Strategic Relationships at Element. "Qmerit is a trusted leader at the forefront of at-home EV charger installation, which is a critical component of EV fleet operations for many of our clients. This partnership allows Element to offer our clients a safe, turnkey solution to address the challenge of at-home EV charging options for drivers, as clients transition their fleets to EVs and seek to maintain high levels of driver satisfaction."
The Element-Qmerit partnership simplifies fleet electrification by allowing Element clients to outsource the challenge of installing (at scale) home-based EV chargers wherever their drivers live. The Qmerit platform initiates, schedules and tracks EV charger installations, minimizing disruptions for drivers through a nation-wide network of licensed, accredited, insured electricians. Coupled with Element’s deep operational experience and global EV expertise, Qmerit will ensure Element clients avoid costly mistakes and deliver a positive driver experience, all while advancing the sustainability of their fleets.
"Element is a trusted partner to many leading companies and it’s an honor for them to have chosen Qmerit as their North American installation partner for at-home EV implementation," said Tracy K. Price, Chairman and CEO, Qmerit. "Together we are at the vanguard of a new movement for fleet electrification and Charging@Home is how their customers’ ambitions will be made complete.”
About Element Fleet Management
Element Fleet Management (TSX: EFN) is the largest pure-play automotive fleet manager in the world, providing the full range of fleet services and solutions to a growing base of loyal, world-class clients – corporates, governments and not-for-profits – across North America, Australia and New Zealand. Element enjoys proven resilient cash flow, a significant proportion of which is returned to shareholders in the form of dividends and share buybacks; a scalable operating platform that magnifies revenue growth into earnings growth; and an evolving capital-lighter business model that enhances return on equity. Element’s services address every aspect of clients’ fleet requirements, from vehicle acquisition and maintenance to accident recovery and remarketing. Clients benefit from Element’s expertise as the largest fleet solutions provider in its markets, offering unmatched economies of scale and insight used to reduce fleet operating costs and improve productivity and performance.
Qmerit, headquartered in Irvine, California, simplifies the adoption of electrification products for residential and small business markets. A leader in green energy transformation, the company provides value-driven services throughout the renewable energy equipment implementation lifecycle. This is delivered through Qmerit’s network of company owned contractors, independent Certified Solutions Partners and Certified Installers, who are skilled in system implementation and integration as well as ongoing support and maintenance. Combining this nation-wide network of certified electrical contractors with the company’s purpose-built digital managed services platform and white-glove concierge services, Qmerit delivers customers an unmatched quality experience related to electric vehicle charging stations, battery storage systems, solar system integration and microgrid solutions. For more information on Qmerit, please visit: Qmerit.com.
Vice President, Communications
This press release includes forward-looking statements regarding Element and its business. Such statements are based on the current expectations and views of future events of Element’s management. In some cases the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements, including, among others, statements regarding the payment of dividends, Element’s ability to execute on its client-centric business strategy, including improvements to run-rate profitability, enhancements to clients’ service experience and service levels, enhancement of financial performance, improvements to client retention trends, reduction of operating expenses, increases in efficiency, plans to sell its interests in non-core assets, terms of the dividend reinvestment plan, creation of value for all stakeholders, expectations regarding syndication, growth prospects, level of workforce engagement, improvements to magnitude and quality of earnings, executive hiring and retention, process and infrastructure transformation, focus and discipline in investing, balance sheet management and plans to reduce leverage ratios, anticipated benefits of the balanced scorecard initiative and expectations regarding financial performance. 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 which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Such risks and uncertainties include those regarding the COVID-19 pandemic and the ongoing rollout of currently available vaccines, risks regarding the fleet management and finance industries, economic factors, risks related to the payment of dividends, risks related to business integration and many other factors beyond the control of Element. 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 accessed at 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 undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.