CINCINNATI, April 30, 2024 /PRNewswire/ -- Building on its mission to expand access to integrated, scalable and reliable fleet electric fuel solutions, Electrada, an electric fuel solutions company, announced today that it has entered into an agreement with Red Bull Distribution Company to provide the electric fuel component for Red Bull's strategy to electrify its fleet. This ambitious program was initiated through Electrada's program partnership with Holman, a global automotive services organization.

Marking a significant milestone in Red Bull's comprehensive sustainability efforts, this initiative commences the electrification of its distribution fleet across multiple California sites.

Key to this electrification program is Holman and Electrada's pioneering strategic partnership that helps North American fleet operators accelerate, scale and reliably integrate EVs into their fleet mix. This collaboration leverages the partners' holistic electrification solution, delivered through Electrada's performance-contracted 360 Charging-as-a-Service (360 CaaS) complete electric fuel solution, significantly streamlining an organization's path to scale fleet electrification programs.

"Importantly, Red Bull's requirement for high-uptime performance was a key consideration in their decision to team with Electrada as an electrification program partner," said Kevin Kushman, CEO of Electrada. "Our 360 CaaS model represents the most evolved and integrated CaaS model available — one that's required across a national footprint where use cases, duty cycles, utilities and energy prices call for a strong and knowledgeable partner that delivers reliable and predictably priced electric fuel."

"We work closely with our customers to truly understand their vision for fleet sustainability, and together, develop a turnkey electrification solution," said Holman's Director of Energy & Connectivity Emily Graham. "As we design electrification solutions for our customers, it is a collaborative process to ensure a seamless transition. Electrada helps to further streamline these projects and provide a reliable source for electric fuel."

Together, Holman and Electrada offer fleet operators a comprehensive fleet management and electrification solution – vehicle plus charging infrastructure – with the latter fully capitalized and performance-contracted to allow organizations to transition to EVs with the least risk. This unique approach to fleet electrification provides a predictably priced contract that eliminates the significant upfront capital investment and mitigates long-term energy cost risks that often prevent organizations from adopting a robust EV program beyond the pilot stage.

For more information about Holman and Electrada, visit Electrada.com or Holman.com.

About Electrada
Electrada is a Cincinnati-based developer, owner, and operator of electric vehicle infrastructure and related energy assets, serving multiple transportation segments using its unique 360 Charging-as-a-Service (CaaS) solution. Electrada partners with fleets to expertly design and build a 100% tailored EV charging solution, then invests all the capital required to deliver a complete electric fuel program for a decade or longer at an electric-fueled cost per mile that's lower than liquid fuel from day one. Electrada clients only pay for their electric fuel needs – with no disruption to their operations. Electrada, founded in 2020 by energy, mobility, and utility experts, is a BlackRock Climate Infrastructure portfolio company established to build and support high-performance EV infrastructure across North America. For additional information, please visit Electrada.com and connect with Electrada on LinkedIn.

About Holman
Holman is a global automotive leader that serves both commercial and consumer clients The Holman Way by always doing the right thing for our people, our customers, and the community since 1924. The Holman story began 100 years ago as a single Ford dealership in New Jersey. Today, Holman, headquartered in Mount Laurel, New Jersey, is one of the largest family-owned automotive service organizations in North America with nearly 9,000 employees across North America, the UK, and Germany. 

Holman delivers a unique range of automotive services including industry-leading fleet management and leasing; commercial vehicle equipment manufacturing; powertrain distribution and logistics services; commercial and personal insurance and risk management; venture capital funding; and automotive retail sales as one of the largest privately owned dealership groups in the United States. Guided by its deeply rooted core values and principles, Holman is continuously Driving What's Right. For additional information, please visit Holman.com and connect with Holman on LinkedIn, Instagram, and Facebook.

Press Contact for Electrada:
David Stoyka
Marx Layne & Company
(313) 570-7899 / (248) 855-6777
DStoyka@marxlayne.com 

Press Contacts for Holman:
Kristin Fitzgerald
(856) 602-7330
Kristin.Fitzgerald@Holman.com

Michael Cianfrone
(856) 840-9863
Michael.Cianfrone@Holman.com

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SOURCE Electrada