Green Spirit has developed a rack that locks and charges bikes and ebikes with 10 stations launched at the University of British Columbia and we are creating a parking/charging network for bike, ebike, and escooter owners.
Problem - Bike theft and inconvenience in bike/ebike/scooter parking. Over 2M bikes stolen in North America / year alone with average loss value of $ 840 USD. Carrying around heavy locks and chargers for owners can be a real burden.
Solution - Micromobility station for the bike/ebike/escooter owner that locks 3 parts of the bike frame and both wheels, charges ebikes and escooters, is reservable ahead of arrival, and is operated by a mobile app. The wheel locks are hands free and motor driven. The frame lock is a u-lock style lock that is attached to our station and pivots to allow for an amazing user experience. We are not bike share! We secure and charge for micromobility owners. Testimonial - A leading law enforcement officer in the area of bike theft is very impressed with the user experience and security of the hardware solution, and with software integration and UI. He says "we are way ahead of other solutions he has seen in the marketplace."
Market - Massive. Ebike sales are on fire. From 2019-2020 Ebike sales grew by 145%. CAGR for the next decade is expected to be around 10% / year. We estimate that there is a $ 50 B TAM globally for this solution today. Gas prices are rising, EVs are expensive and out of reach for many - micromobility is well placed to do well.
Competition - Though there are many bike security solutions and bike share infrastructure companies in the market, Bikeep is our most direct and only real competitor. They have a smart rack solution for public area bike parking that locks the bike frame and in some cases, one wheel.
Our Differentiation -
Easy, safe, secure locking + charging
Completely offgrid – even for ebike charging
Data on state of bike and battery
Seamless charging experience – no carrying around charging cables
Business Model -
1. $ 1500 / station / year, 5 year lease agreement, for property owners/managers
2. $ 1.50 / hour parking fee for user
3. $ 15 / month subscription for user
Traction - 10 stations installed at the University of British Columbia. UBC paid us $ 30,000 for the 1-year pilot and willing to expand if good results. The pilot launched mid May and we have over 35 users with virtually no marketing dollar spent. We have secured LOIs for pilots with Park Royal Shopping Centre in West Vancouver, and Granville Island in Vancouver, BC. We are currently having ongoing discussions with cities in the region.
IP - We have a filed a U.S. Provisional Patent and PCT for our solution and locking technologies.
Rob Adamovsky - Co-Founder, CEO - An MBA graduate from UBC’s Sauder School of Business, specializing in Strategy and Entrepreneurship, Co-Founder at Ascent Strategy Consulting, Former executive at Kit and Ace Designs, Former Mentor at e@UBC and New Ventures BC
Sy Haw Wong - Co-Founder - A Certified Supply Chain Professional with a Bachelors Degree in Pacific and Asian Studies, 10 years in operations for major firms such as Electronic Arts, Fortinet Technology, Kit and Ace Design, Dufry Group, and RYU Apparel. Currently GM of Logistics and Inventory at GreenPlanet Wholesale
Engineering Team - 7 part-time Engineers in the areas of Mechatronics, Electrical, Mechanical, Firmware, IoT, Software Development, and Solar - Experience with Bosch, Jaguar, Conetec, Avigilon, A&K Robotics, Tesla and more
1. Grayson Bain, Founder of Rocky Mountain Bicycles, Consultant to SMEs
2. Justin Khouw, Principle Edge Construction, CFA, CPA, CMA, MBA Finance
3. Felix Chan, Founder Kefelan Solutions - Fractional CTO to startups, software development and project management experience in a variety of industries including large financial institutions
4. Darius Sahebjavaher, Mechatronics consultant - Consulting early stage high-tech companies with innovation and product development. Helps companies build their foundational technology and bring it to market
5. Any Horgas - Brand and Marketing expert - has consulted in the areas of brand, marketing, graphic design, and asset design with companies such as Lululemon, Vega, and many more
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