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Fuji Electric to Offer Financing Program for Electric Vehicle Charging Stations – MarketWatch

EDISON, N.J., Oct 08, 2013 (BUSINESS WIRE) — Fuji Electric Corp. of America announced today that they have partnered with Union Bank and Marlin Leasing Corp. to offer their customers convenient Financing Programs on their DC Quick Charging Stations for Electric Vehicles. The program offers Zero-Down, Zero-Interest financing in an effort to offset the cost of equipment and encourage small businesses to install charging stations at their sites.

“We firmly believe that the development of charging infrastructure in the US, particularly publicly available quick charging, is a critical factor in the mass adoption of EVs,” said Larry Butkovich, Fuji Electric’s General Manager for EV Systems. “Drivers need reassurance that they will be able to access charging stations while on the road, and our Financing Program gives businesses the assistance they need to make a business case for the installation of these Quick Charging Stations.”

Fuji Electric’s UL-Certified 25kW DC Quick Charging Station provides a complete charge to EVs in under an hour, making it ideal for commercial applications such as hotels, restaurants, retail stores, and public highways/interstates. With over 400 units deployed worldwide, the global manufacturer entered the US market in March 2012, and immediately recognized the hesitation among businesses to invest in this technology. Butkovich adds, “Whether we are working with a large hotel chain or a single-owner convenience store, their questions are quite similar. A ‘Zero-Down, Zero-Interest’ Financing Program eases their concerns about upfront cash outlays and long-term interest payments on capital equipment.”

The Financing Program is currently available to U.S. customers, and is designed to offer quick turnaround time on application reviews to avoid project delays. Customers are assigned a single point of contact within Fuji Electric and Marlin Leasing in order to streamline the process and ensure a smooth, hassle-free experience.

“This program demonstrates our ongoing commitment to our customers and their financial needs by removing the primary roadblock that prevents them from embracing this technology,” said Phil Charatz, Fuji Electric’s President and CEO. “Partnering with well-established companies like Union Bank and Marlin Leasing is a testament to our belief in providing quality products and services that will revolutionize the EV industry and change the way people think about this market.”

About Fuji Electric Corp. of America

Fuji Electric Corp. of America is a wholly owned subsidiary of Fuji Electric Co., Ltd., and has been responsible for sales and distribution of the company’s products since 1970. Fuji Electric Co., Ltd. began developing power electronics equipment in 1923, and is a global leader in industrial products ranging from semiconductors, HMIs, power supply, and power generation equipment to AC drives and electric vehicle charging stations. For more information please visit www.americas.fujielectric.com or follow us on Twitter @FujiElectricFEA.

About Union Bank

Union Bank, N.A. is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As a primary subsidiary of UnionBanCal Corporation, a financial holding company with assets of $102.3 billion, they operate 418 retail branches in California, Washington and Oregon. Union Bank works with Marlin Leasing Corporation to provide a wide range of flexible equipment financing options, including certain “soft” costs, such as shipping, software, and installation, as part of the lease. For more information please visit www.unionbank.com.

About Marlin Leasing Corp.

Marlin Business Services Corp. is a publicly traded bank holding company MRLN -0.21% that provides nationwide commercial financing and depository products. Marlin specializes in providing innovative financial solutions for small and mid-size businesses. Since 1997, Marlin has extended $3 billion in financing by providing tailored financing programs and competitive lease structures. Marlin’s value proposition is centered around providing excellent service and delivering on commitments made to equipment dealers, manufacturers, resellers, distributors and their customers. Marlin is a direct lender providing financing to businesses so they can acquire new equipment and technology while preserving capital. For more information please visit www.marlinfinance.com.

Source http://www.marketwatch.com/story/fuji-electric-to-offer-financing-program-for-electric-vehicle-charging-stations-2013-10-08?reflink=MW_news_stmp

Fuji Electric to Offer Financing Program for Electric Vehicle Charging Stations – MarketWatch

EDISON, N.J., Oct 08, 2013 (BUSINESS WIRE) — Fuji Electric Corp. of America announced today that they have partnered with Union Bank and Marlin Leasing Corp. to offer their customers convenient Financing Programs on their DC Quick Charging Stations for Electric Vehicles. The program offers Zero-Down, Zero-Interest financing in an effort to offset the cost of equipment and encourage small businesses to install charging stations at their sites.

“We firmly believe that the development of charging infrastructure in the US, particularly publicly available quick charging, is a critical factor in the mass adoption of EVs,” said Larry Butkovich, Fuji Electric’s General Manager for EV Systems. “Drivers need reassurance that they will be able to access charging stations while on the road, and our Financing Program gives businesses the assistance they need to make a business case for the installation of these Quick Charging Stations.”

Fuji Electric’s UL-Certified 25kW DC Quick Charging Station provides a complete charge to EVs in under an hour, making it ideal for commercial applications such as hotels, restaurants, retail stores, and public highways/interstates. With over 400 units deployed worldwide, the global manufacturer entered the US market in March 2012, and immediately recognized the hesitation among businesses to invest in this technology. Butkovich adds, “Whether we are working with a large hotel chain or a single-owner convenience store, their questions are quite similar. A ‘Zero-Down, Zero-Interest’ Financing Program eases their concerns about upfront cash outlays and long-term interest payments on capital equipment.”

The Financing Program is currently available to U.S. customers, and is designed to offer quick turnaround time on application reviews to avoid project delays. Customers are assigned a single point of contact within Fuji Electric and Marlin Leasing in order to streamline the process and ensure a smooth, hassle-free experience.

“This program demonstrates our ongoing commitment to our customers and their financial needs by removing the primary roadblock that prevents them from embracing this technology,” said Phil Charatz, Fuji Electric’s President and CEO. “Partnering with well-established companies like Union Bank and Marlin Leasing is a testament to our belief in providing quality products and services that will revolutionize the EV industry and change the way people think about this market.”

About Fuji Electric Corp. of America

Fuji Electric Corp. of America is a wholly owned subsidiary of Fuji Electric Co., Ltd., and has been responsible for sales and distribution of the company’s products since 1970. Fuji Electric Co., Ltd. began developing power electronics equipment in 1923, and is a global leader in industrial products ranging from semiconductors, HMIs, power supply, and power generation equipment to AC drives and electric vehicle charging stations. For more information please visit www.americas.fujielectric.com or follow us on Twitter @FujiElectricFEA.

About Union Bank

Union Bank, N.A. is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As a primary subsidiary of UnionBanCal Corporation, a financial holding company with assets of $102.3 billion, they operate 418 retail branches in California, Washington and Oregon. Union Bank works with Marlin Leasing Corporation to provide a wide range of flexible equipment financing options, including certain “soft” costs, such as shipping, software, and installation, as part of the lease. For more information please visit www.unionbank.com.

About Marlin Leasing Corp.

Marlin Business Services Corp. is a publicly traded bank holding company MRLN -0.21% that provides nationwide commercial financing and depository products. Marlin specializes in providing innovative financial solutions for small and mid-size businesses. Since 1997, Marlin has extended $3 billion in financing by providing tailored financing programs and competitive lease structures. Marlin’s value proposition is centered around providing excellent service and delivering on commitments made to equipment dealers, manufacturers, resellers, distributors and their customers. Marlin is a direct lender providing financing to businesses so they can acquire new equipment and technology while preserving capital. For more information please visit www.marlinfinance.com.

SOURCE: Fuji Electric Corp. of America

Media:
Fuji Electric Marketing Manager
Doretta Caprarola, 201-490-3933
dcaprarola@fecoa.fujielectric.com

Copyright Business Wire 2013

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