Building the Largest Global
Network of Charging and Parking Solutions for
Micromobility
New York, NY -- October 1, 2020 -- InvestorsHub NewsWire -- GoIP
Global Inc. (OTC
PINK: GOIG) announced today the acquisition of GetCharged,
Inc., a privately-held transportation company focused on building
the largest global network of charging and parking stations for
micromobility devices, electric scooters, and e-bikes.
Micromobility, defined as urban transport vehicles that are
human-powered, electrically assisted, or electrically powered, has
disrupted transportation. This relatively new form of transport is
attracting a strong customer base at a rate more than double either
car-sharing or ride-hailing, according to a recent study[1]. There
are currently Micromobility operators in over 150 cities, and there
are over 1 million scooters deployed. Micromobility is modeled at a
2030 market potential of roughly $200 to $300 billion in the United
States, $100 billion to $150 billion in Europe, and $30 billion to
$50 billion in China. GetCharged's solutions are designed to
benefit cities, scooter operators, riders, and non-riders alike by
providing a safe infrastructure that brings order to the chaotic
nature of scooters discarded on sidewalks, lowers operational
costs, and offers consumers fully charged vehicles. GetCharged is
poised to bring the Micromobility industry to profitability more
quickly, making scooter use a welcome urban transport alternative
and supporting users with dependable and searchable pickup
locations.
"We believe the backing of GoIP's institutional investors, the
adjacency of GoIP's recently announced acquisitions, our future
acquisitions, and GetCharged's vast growth potential, driven by its
talented team, presents tremendous upside opportunity for all of
our stakeholders. Our entire board and institutional investors are
excited to devote the capital necessary to rapidly grow
GetCharged's footprint in this fast-growing on-demand ride-sharing
movement. Also, we see this acquisition as consistent with our
desire to increase shareholder value constantly as we see the
GetCharged charging and parking stations opportunity as similar to
other infrastructure plays, such as the cell tower business,"
stated Kenneth Orr, Chairman of GoIP.
"We are excited to join GoIP's team and appreciate their passion
for supporting the growth and driving returns of GetCharged's
last-mile urban opportunity. Cities worldwide are increasingly
focusing on green, socially distanced solutions to traffic
congestion, and the rising use of e-bikes and scooters has to date
created additional logistical challenges. GetCharged's offering
seamlessly addresses and services this rapid growth in e-scooter
use while solving this emerging market's challenges. GetCharged has
developed a series of infrastructure solutions that elegantly
addresses e-scooter clutter and additionally offers tremendous
operating cost savings for micromobility ride-sharing companies,
paving the way for cities wishing to advance their use of
scooters," said Andrew Fox, CEO of GetCharged, Inc.
Upon transaction close, Andrew Fox will be appointed Chief
Executive Officer and President and join its board of directors.
GoIP, as previously disclosed, is changing its name to TransWorld
Holdings, Inc. The acquisition's purchase price of $17.5 million
will be paid in convertible preferred shares at a fixed conversion
of 60 million shares post-split. The transaction is expected to
close before October 15, 2020, subject to customary closing
deliverables.
About GetCharged, Inc.
Charge is a micromobility company dedicated to building the
largest network of electric charging, storage, and service stations
for e-bikes and e-scooters. The company's docking stations will be
installed in privately-owned parking garages, lots, and spaces
throughout major markets around the world, providing a convenient,
safe, and cost-effective space to charge, store and service
e-vehicles while reducing e-vehicle clutter on city streets and
sidewalks. Charge has entered into numerous agreements with garage
operators and property owners, securing a network of nearly 6,000
locations to install its docking stations. Charge also has a
proprietary mobile application that interfaces with its docking
stations and provide users with available locations as well as
real-time e-vehicle availability of partnered rideshare platforms.
For more information, please visit charge.us, and connect with the company
on Twitter and LinkedIn
About GoIP Global/ TransWorld Holdings
Inc.
GoIP is a holding company that connects consumers and business
using transportation, infrastructure and technology. GoIP is in the
process of changing its name to TransWorld Holdings, Inc. and has
applied for a new symbol.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of GoIP
Global, Inc. that constitute forward-looking statements for
purposes of the safe harbor Provisions under the Private Securities
Litigation Reform Act of 1995. The words or phrases "can be,"
"expects," "may affect," "believed," "estimate," "project," and
similar words and phrases are intended to identify such
forward-looking statements. GoIP Global, Inc. cautions you that any
forward-looking information provided by or on behalf of GoIP
Global, Inc. is not a guarantee of future performance. None of the
information in this press release constitutes or is intended as an
offer to sell securities or investment advice of any kind. GoIP
Global, Inc.'s actual results may differ materially from those
anticipated in such forward-looking statements as a result of
various important factors, some of which are beyond GoIP Global,
Inc.'s control. In addition to those discussed in GoIP Global,
Inc.'s press releases, public filings, and statements by GoIP
Global, Inc.'s management, including, but not limited to, GoIP
Global, Inc.'s estimate of the sufficiency of its existing capital
resources, GoIP Global, Inc.'s ability to raise additional capital
to fund future operations, GoIP Global, Inc.'s ability to repay its
existing indebtedness, the uncertainties involved in estimating
market opportunities and, in identifying contracts which match GoIP
Global, Inc.'s capability to be awarded contracts. All such
forward-looking statements are current only as of the date on which
such statements were made. GoIP Global, Inc. does not undertake any
obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated
events.
Contact:
LHA Investor Relations
Carolyn Capaccio, CFA
ccapaccio@lhai.com
212.838.3777
[1] The road to seamless urban
mobility, McKinsey Quarterly, January 16, 2019.