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Iowa receives $51 million for electric vehicle chargers across the state

October 12, 2022

The US Department of Transportation (US DOT) approved Iowa’s Electric Vehicle (EV) Infrastructure Deployment Plan last Tuesday. Iowa will receive $51.4 million over five years in federal funding to install high-powered chargers for electric vehicles across the state. The first stage of this plan is to build chargers on interstate highways, and the next will be for community-based locations.

The money comes from the Bipartisan Infrastructure Law, signed by President Joe Biden in December. The program will provide nearly $5 billion over five years to help states create a network of EV charging stations along designated Alternative Fuel Corridors, particularly along the Interstate Highway System.

The Iowa DOT said it could be at least a year before the chargers begin popping up. The private sector is in charge of building the chargers, and they will need to first apply for some of the funding.

In order to get it, these companies must build the chargers along Iowa interstates. They have to be within a mile of the road, and there needs to be at least one every 50 miles. Initially, IDOT plans to focus on Interstate 29, Interstate 35, Interstate 80 and Interstate 380.

The Biden administration says a second grant also designed to expand charging access in rural and underserved communities should be announced later this year.

Tags: electric vehicle charging

Iowa receives $51 million for electric vehicle chargers across the state | Clay & Milk

A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.

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