SK Signet has signed a strategic memorandum of understanding with U.S. EV charging infrastructure operator synergEV. SK Signet said on May 21 the agreement would expand its ultra-fast charging business in North America and lay the groundwork for entering Central and South American markets.

synergEV is an infrastructure operator based in Texas that is developing EV charging hubs and running a charging network business. It currently operates more than 1,800 charging stations across 41 U.S. states. It is working on about 20 EV charging hub construction projects, including a Texas flagship hub, and has secured more than 150 sites to expand its North American business. It is also expanding its business into Mexico and Central and South America.

SK Signet plans to take part in a pilot project within synergEV's EV charging hub business to verify product performance and operational stability in real operating environments. Cooperation is being discussed for multiple sites, including the Arlington area and areas in Georgia and Alabama. The companies also plan to gradually expand the scope of cooperation to projects related to the U.S. EV charger subsidy program NEVI (National Electric Vehicle Infrastructure).

The two companies plan to cooperate across multiple areas, including supplying ultra-fast chargers, software integration and operational support. They will also pursue the expansion of North American infrastructure by linking with synergEV's charging network. They are discussing the possibility of cooperating on project opportunities worth about $25 million, and the specific project size and supply scope will be finalised depending on project progress.

Young-hoon Seo (서영훈), SK Signet's chief operating officer and CEO of its Americas unit, said the cooperation was meaningful in that it would expand the ultra-fast charging infrastructure business in North America while laying the groundwork for entering Central and South American markets. He said SK Signet would further strengthen competitiveness in the global charging infrastructure market based on its ultra-fast charging technology and operating experience.

synergEV CEO Francisco Aguirre (Francisco Aguirre) said SK Signet was a partner with global-level ultra-fast charging technology and stable product competitiveness. He said the cooperation would promote the building of stable and scalable charging infrastructure in North America and Central and South America.