As Oil Prices Surge, a Vancouver Cleantech Startup Introduces New Electrical Technology to Reduce Inflation Effects in Marine, Automotive & Housing Industries

VANCOUVER, BC, June 2, 2022 /PRNewswire/ - It seems fitting that a tech start-up headquartered in a city that has seen the highest gas prices in North America this year, is introducing a new technology that allows consumers to optimize electricity usage for their cars, boats and homes right from their phones. As energy demands surge and people opt for more affordable electrical options, VoltSafe has developed a global solution that makes connecting to electricity much safer, greener and cheaper.

An already stressed global supply chain and rising inflation due to the effects of COVID-19, coupled with the Russian invasion of Ukraine, means the world's economy and energy sources are feeling the burn. Russia is one of the biggest oil producers in the world and global sanctions are having a direct impact on demand and gas prices which, in turn, gets passed onto consumers' wallets. Pressures and strong opposition to oil drilling and pipelines are also accelerating decarbonization of the world's economy. Oil and natural gas prices have more than doubled in the last year and inflation rates are currently rivalling those last seen in the 1980's in North America. This all leads to an urgent global interest in discovering and delivering newer, more efficient ways to connect to and manage our daily energy consumption – and VoltSafe is an integral part of the solution.

VoltSafe Inc. has filed patents in over forty countries for the world's first, prongless, high power, electrical connector technology that doesn't incur power losses like other existing prongless charging solutions. By using magnets and an embedded electrical fingerprint, power doesn't turn 'on' until both sides are completely connected. Letting power flow after a connection is made eliminates associated risk of arcs, shocks and fires. VoltSafe outlets are IoT enabled, meaning users are able to control and optimize all of their energy consumption, reducing their electricity bills and lowering GHG emissions.

"Wherever there is high power, VoltSafe can create the prongless magnetic connector and energy management platform to go with it. We're working on solutions that span residential, commercial and industrial applications from home to marine, aviation to autonomous electric vehicles and more. It's not enough to simply shift to electrification, it's also imperative to have smart and efficient ways to monitor, manage and minimize power usage. VoltSafe novel patented tech addresses it all," noted VoltSafe CTO, Sanad Aridah.

An area of particular focus for VoltSafe right now is the company's marine solution for shore power. The electric marine sector is as hot as they come, with record amounts of investment funds flowing into the industry. The move to a fully electric marine sector eliminates greenhouse gases and harmful air emissions, reduces harmful water emissions, and reduces air and water noise pollution. Recently, General Motors committed USD$150 million to Pure Watercraft, a Seattle start-up that makes electric outboard motors for boats. Commenting on the deal, Pure Watercraft's CEO noted, "The boating market is growing like it hasn't since post-World War II."

One of VoltSafe's Strategic Advisors, Jim Gray, commented "VoltSafe is well positioned to be a primary enabler, a key, of this (marine electrification) revolution."

The interest in VoltSafe Marine extends beyond pleasure-craft boaters and marinas and into industrial shipping and national defense too. Learning about VoltSafe's technology and marine solution, Alex Rueben, Executive Director of the Association of British Columbia Marine Industries and former Chief Operating Officer of the Canadian Navy, stated, "This plug will set a new standard for marine electrical safety and adds further 'smart' capabilities that promise to accelerate the electrification of vessel fleets. This is an exciting 'made in Canada' technology addressing a real need." 

Elisabeth Charmley, Executive Director and Co-Founder of the Vancouver Maritime Centre for Climate, added, "As electrification of assets proliferates, VoltSafe's patented plug and outlet connectors will play a key role in energy management - VoltSafe is ahead of the curve!"

Strong tail-winds (grants, subsidies, carbon credits, investment, etc.) will continue driving significant demand for Cleantech solutions. With its patented, novel technology, VoltSafe unlocks previously unreachable economic value (safety, ease-of-use, advanced smart capabilities) and is able to leverage a blue ocean strategy.

Trevor Burgess, VoltSafe CEO, remarked, "Governments around the world are placing a heightened focus on addressing climate change and VoltSafe's patented tech helps accelerate decarbonization with a safer, simpler and smarter way to connect to high power, with unprecedented levels of safety and sustainable energy management. We know the problem is real and the demand for our tech exists – we continue to receive inbound inquiries almost daily, including Fortune 500 companies who are all seeking different use cases of VoltSafe's patented technology to achieve their desired needs." 

VoltSafe has just launched a community-focused equity crowdfunding campaign to raise capital aimed at driving the company further towards its licensing and commercialization goals. The company successfully pitched its innovation to CBC's Dragons' Den in 2018 with multiple Dragons vying to invest. Now, for a limited time, the raise is open to all investors. Learn more at: Frontfundr.com/voltsafe. 

Headquartered in Vancouver, BC, this Canadian tech startup has reinvented the electrical plug by eliminating prongs, adding magnets and an "electrical fingerprint" creating the world's safest, simplest, and smartest plug design since electricity came into homes more than 140 years ago. VoltSafe commercialized its first safety-certified product (VoltSafe Winter). The company's product pipeline includes magnetic plug replacement solutions for household, commercial, industrial, marine, electric and autonomous vehicles, emergency services, data centres and more.

FrontFundr is Canada's leading online private markets investing platform and an exempt market dealer. It provides startups and growth companies access to capital, and gives investors access to private companies they believe in and want to support. It provides a community of 25,000+ investors with the ability to review and complete private placements on one digital platform. The company's revolutionary technology allows users across Canada to invest in innovative growth businesses in under 12 minutes, starting from as little as $250. To date it has helped more than 60 companies raise over $60 million.

SOURCE VoltSafe Inc.