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NextNRG Surges 23% After-Hours on Wireless EV Charging Partnership

MarketDash Editorial Team
5 days ago
NextNRG shares soared over 23% in after-hours trading Tuesday following news of a partnership with Florida International University to deploy what could be one of the world's largest wireless electric vehicle charging networks.

NextNRG Inc. (NXXT) shares rocketed 23.59% higher in after-hours trading Tuesday, reaching $1.52 after the company announced a partnership with Florida International University that could reshape how we think about electric vehicle charging.

The collaboration aims to launch what the company describes as one of the largest wireless EV charging deployments in the world. And here's where it gets interesting: we're not just talking about parking spots with charging pads.

Charging While You Drive

NextNRG plans to install a roadway stretching up to three miles that features dynamic wireless charging technology. Translation: your EV charges as you drive over it. The company will also deploy 24 static wireless charging sites scattered across multiple FIU campus locations for when vehicles are parked.

The partnership goes beyond simple installation. NextNRG will license and commercialize technologies developed by FIU researchers, turning academic innovations into real-world sustainable transportation solutions.

"NextNRG is proud to take our licensed patents from concept to reality with FIU," said Michael D. Farkas, Executive Chairman and CEO of the integrated energy ecosystem company. "Together we are proving that wireless charging at scale is not just possible, but practical."

The Campus-Wide Vision

The system will allow EVs to charge whether they're sitting still or cruising along. A mobile app will handle the practical details like billing, usage tracking, and showing drivers where charging stations are available in real time.

Arif Sarwat, a distinguished professor at FIU who directs the Energy, Power & Sustainability Lab and serves as NextNRG's chief technology officer, emphasized the educational angle: "This collaboration will deliver innovation and sustainability directly to our campus, allowing students and the community to experience the future of transportation."

If everything goes according to plan, FIU will become the first U.S. university to demonstrate wireless EV charging at this scale. That's the kind of distinction that turns a campus into a living laboratory.

The Reality Check

Before you get too excited about Tuesday's after-hours pop, consider the bigger picture. NextNRG stock has tumbled 62.15% year to date. The company carries a market capitalization of $165.32 million, with shares trading in a 52-week range between $0.93 and $4.34.

During regular trading hours Tuesday, NextNRG closed at $1.23, up a more modest 3.36%. The after-hours surge suggests investors see meaningful potential in the FIU partnership, but the stock's performance this year tells a more complicated story about the challenges facing energy technology companies.

Back to News

NextNRG Surges 23% After-Hours on Wireless EV Charging Partnership

MarketDash Editorial Team
5 days ago
NextNRG shares soared over 23% in after-hours trading Tuesday following news of a partnership with Florida International University to deploy what could be one of the world's largest wireless electric vehicle charging networks.

NextNRG Inc. (NXXT) shares rocketed 23.59% higher in after-hours trading Tuesday, reaching $1.52 after the company announced a partnership with Florida International University that could reshape how we think about electric vehicle charging.

The collaboration aims to launch what the company describes as one of the largest wireless EV charging deployments in the world. And here's where it gets interesting: we're not just talking about parking spots with charging pads.

Charging While You Drive

NextNRG plans to install a roadway stretching up to three miles that features dynamic wireless charging technology. Translation: your EV charges as you drive over it. The company will also deploy 24 static wireless charging sites scattered across multiple FIU campus locations for when vehicles are parked.

The partnership goes beyond simple installation. NextNRG will license and commercialize technologies developed by FIU researchers, turning academic innovations into real-world sustainable transportation solutions.

"NextNRG is proud to take our licensed patents from concept to reality with FIU," said Michael D. Farkas, Executive Chairman and CEO of the integrated energy ecosystem company. "Together we are proving that wireless charging at scale is not just possible, but practical."

The Campus-Wide Vision

The system will allow EVs to charge whether they're sitting still or cruising along. A mobile app will handle the practical details like billing, usage tracking, and showing drivers where charging stations are available in real time.

Arif Sarwat, a distinguished professor at FIU who directs the Energy, Power & Sustainability Lab and serves as NextNRG's chief technology officer, emphasized the educational angle: "This collaboration will deliver innovation and sustainability directly to our campus, allowing students and the community to experience the future of transportation."

If everything goes according to plan, FIU will become the first U.S. university to demonstrate wireless EV charging at this scale. That's the kind of distinction that turns a campus into a living laboratory.

The Reality Check

Before you get too excited about Tuesday's after-hours pop, consider the bigger picture. NextNRG stock has tumbled 62.15% year to date. The company carries a market capitalization of $165.32 million, with shares trading in a 52-week range between $0.93 and $4.34.

During regular trading hours Tuesday, NextNRG closed at $1.23, up a more modest 3.36%. The after-hours surge suggests investors see meaningful potential in the FIU partnership, but the stock's performance this year tells a more complicated story about the challenges facing energy technology companies.