Long Beach Based- Evolectric Inc. was recently accepted into the highly competitive LACI Incubator Program.
Evolectric Takes on the Incubator Journey
The Evolectric team is eager to embark on this new journey with the Los Angeles Cleantech Incubator (LACI) program as part of their Fall 2021 Incubation Cohort after completing the Spring 2021 Cohort of the Long Beach Accelerator (LBA) this past Summer.
LACI is a City of Los Angeles established nonprofit organization, creating an inclusive green economy by unlocking innovation through working with startups to accelerate the commercialization of clean technologies, transforming markets through partnerships with policymakers, innovators, and market leaders in transportation, energy, and sustainable cities; and enhancing communities through workforce development, pilots and other programs. Founded as an economic development initiative by the City of Los Angeles and its Department of Water & Power (LADWP), LACI is recognized as one of the most innovative business incubators in the world by UBI. In the past eight years, LACI has helped 78 portfolio companies raise $221M in funding, generate $220M in revenue, create 1,750 jobs, and deliver more than $393M in long-term economic value.
Accepted to the program in September of 2021, Evolectric’s Co-Founders Bill Beverley and Jakson Alvarez express their excitement about furthering their mission of advancing electrification worldwide alongside LACI.
“We are thrilled to announce this partnership and for this opportunity. LACI’s strong focus on clean and zero emission technologies provides us with a support network and access to individuals and organizations that share our passion in a sustainable future free of toxic emissions and driven by circular economy principles.” Jakson Alvarez, Co-CEO and CFO, Co-Founder.
“LACI provides us an opportunity to seriously level ourselves up. Their depth in the cleantech space is world-renowned, and we are humbled to be afforded the chance to grow with them over the next two years of our journey. We are quite simply ecstatic.” Bill Beverley, Co-CEO & CTO, Co-Founder.
Evolectric is a California-based technology company specializing in electrified transportation and battery technologies. Evolectric’s offerings encompass purpose-built vehicle and battery solutions that advance global e-mobility through rapid prototyping and standardized products. The team is thrilled to be a part of the program alongside other great companies striving to achieve similar sustainability and zero emissions goals.
The company is growing quickly and is expected to reach several milestones in 2022. Additionally, this past year the team completed the Long Beach Accelerator (LBA) program which was established as a joint effort among the City of Long Beach, private investors, and California State University-Long Beach. The time spent with this program was extremely rewarding for the team, which builds excitement for the upcoming opportunity.
With the help of LACI, the team plans to sharpen the company’s vision, broaden their skillset, and enhance strategic planning to achieve short and long-term goals. The team has seen the electric vehicle industry grow quickly on a global scale and is proud to be a part of this journey. Using their current expertise and resources, they hope to serve emerging markets with the transition to a future of green mobility.
Utilizing the resources provided by LACI, this will ultimately allow Evolectric to advance global electrification by enabling and providing products and services that unlock current and new electrification technologies.