RAJ PATEL
Chief Financial Officer
Electronic Vehicle Charging Solutions (EVCS)
Raj Patel, the chief financial officer of Electronic Vehicle Charging Solutions (EVCS), focuses his finance organization on value creation. Patel is leading the charge to change the mentality from a growth mindset to a growth and profitability mindset. He has built out his finance organization to six professionals and the company has hired over 30 people in the last year. For Patel and EVCS, it’s about putting the infrastructure in place that will allow for scalability, which is what they are targeting. EVCS’ business is project-oriented and capex oriented so there is a complexity to the finance and accounting. Under Patel’s financial stewardship, the company is exploring technology to help with scalability without having to throw more people at a solution. Thanks in large part to Patel’s efforts, the company has raised $28 million in equity and secured a $50 million line of credit.
EVCS has been able to maximize state and federal grants that are policy conducive to what the company is doing in the EV space. This has mitigated the need for investor capital and Patel is leading the charge to fully understand all the government grants the company can benefit from. In addition to the $78 million raised from investors, Patel and his team have secured north of $100 million in grants from the government.
These funds (mostly awarded late last year) are used to fund EV infrastructure construction projects. Patel has played a large part in not only staffing his team, but also lending a hand in helping staff for other leadership positions.
