Michael Farkas, Founder & CEO, NextNRG

Invest: spoke with Michael Farkas, founder and CEO of NextNRG. “Wireless charging is going to be groundbreaking,” Farkas said. He discussed how NextNRG is integrating fueling, charging, storage, and energy management into one platform, and why access to power remains the biggest constraint on electrification.

How does NextNRG’s integrated energy ecosystem come together in practice, and what differentiates it from existing solutions?

Most solutions today are islands onto themselves. We believe it is important to integrate those solutions into one system, or at least create a platform that allows customers to monitor, manage, and orchestrate all of their energy needs.

Today, no one integrates mobile fueling, legacy internal combustion fueling, and EV charging. Those are all managed separately. When you add energy generation, energy storage, and energy management, it becomes clear that you cannot support large-scale EV charging deployment without those solutions. Our role is to create that platform and ecosystem so that organizations can move from internal combustion fleets toward electrification in a way that is simple and easy to manage. Whether you are in accounting, sustainability, or the C-suite, we want to provide something that is easy to operate.

How are AI and machine learning transforming day-to-day operations for your customers?

Without implementing these technologies, you are basing your systems on antiquated technology. In order to run operations efficiently, you have to apply AI and machine learning. That is important to our customers, and ultimately it saves them money. That is the real key.

How does your core technology improve efficiency and reduce costs across utilities and fleets?

That technology is the genesis of what we do, and it is especially applicable to large utility grids. It was developed under a Department of Energy program in coordination with Florida International University, the Department of Energy, FPL, and NextEra.

In that deployment, FPL went from being one of the worst-rated utilities in the country to one of the most efficient utilities in the world. The technology made it possible to better match supply and demand, which reduced fuel costs. The biggest impact, though, was on operations and maintenance. Through sensors and systemwide communication across the grid, from transmission to distribution to the last mile, utilities can lower the cost of operating and maintaining a traditional grid. We were able to reduce those expenses by nearly a third. These are billions of dollars in annual costs, so the impact is significant.

What role does your mobile fueling business play in improving fleet efficiency and lowering costs?

Anytime fleet vehicles are inoperable, the operator is losing money. One of the biggest benefits of our model is keeping those vehicles ready to go. Drivers do not have to stop to get fuel, and that improves efficiency and uptime.

Fuel is one of the biggest expenses fleet operators deal with. When you compare electric vehicles with traditional internal combustion vehicles, the cost difference is substantial. As one fleet operator told me, operating an electric truck can cost about 20 cents on the dollar compared with a standard internal combustion engine vehicle. That is an enormous savings. Maintenance is also much lower because EVs have far fewer moving parts. The more time a vehicle spends off the road, the more revenue is lost. For fleet operators, cost is the key consideration, and this is why electrification is becoming so important.

What is the biggest challenge standing in the way of large-scale fleet electrification?

There is really only one challenge, and that is power. The vehicles are there, the charging stations are there, and other manufacturers are coming out with more EVs. The limiting factor is electricity. There is not enough power.

Everything is moving toward electrification, whether it is mobility, food preparation, heating and cooling, data centers, AI, or digital currencies. All of it depends on electricity. This is a global issue, not just a local one. There is not enough power generation and not enough storage, and that is exactly what NextNRG is working on. Whether at the utility scale or through smart microgrids, the real missing link is energy generation and management.

How do you balance legacy fuel systems with next-generation clean energy solutions?

It is a fine line, but in the end, it is the same customer base. Fleet operators today still run mostly on internal combustion engines, and those vehicles need fuel. We provide that fuel directly, so instead of drivers going to a gas station, the gas station comes to them.

That has a real impact on efficiency. Drivers can start their routes without worrying about fueling, and vehicles come back at the end of the day ready to be fueled again. It saves time, reduces costs, and gives operators more control over the fueling process. We also understand that these customers want to move toward EVs, and we can help them through that transition by deploying the infrastructure and energy systems they need. No other providers are doing that whole process in one ecosystem.

How do you tailor your solutions to different sectors such as fleets, utilities, healthcare, and government?

Our platform, what we call the NextNRG Dashboard, allows organizations to manage all aspects of their energy services. It is not just about fueling. It is about internal combustion fueling, EV charging, energy generation, energy storage, and intelligent energy management.

Each customer has different needs, so we tailor the solution accordingly. Some customers may not have solar but can use batteries. Some may need internal combustion fueling today and charging at the same time. We design the system based on what the client requires, and the dashboard reflects the systems deployed at that location. It is a customized solution for each customer.

How are you scaling that impact in underserved or high-demand markets?

We focus on areas that do not have enough power today. For example, we have projects with tribal communities that are considered disadvantaged communities. By deploying smart microgrid technologies, solar panels, storage, and in some cases gas turbines, we can create a complete local energy ecosystem for those locations.

Energy transition is happening with us or without us. Our mission is to bring technologies that make that process more efficient. Energy demand is increasing everywhere because of AI, machine learning, and other digital systems, but there has not been enough new generation built in this country for quite some time. We are seeing more renewable generation come online, but without storage, it is not enough. Storage is a core component of our solution.

What additional impact is your EzFill platform having today?

EzFill is having a major impact, especially in Florida. We do not only serve fleets. We also serve homes and the marine market. A customer can open the app, press a few buttons, and have fuel delivered directly. In the marine segment, the savings compared with going to a marina are substantial.

For fleet operators, the numbers are also meaningful. We see about 25% greater vehicle operational time, about 15% lower fueling costs, around 30% less vehicle disruption time, and roughly 20% higher driving productivity by using our service. Once we have those relationships, it becomes much easier to introduce customers to our broader energy and EV solutions.

What role will wireless charging play in the future of energy and transportation?

Wireless charging is going to be groundbreaking. It eliminates the need to plug vehicles in, which reduces driver error and makes the process easier. At a logistics center, for example, a vehicle could pull into a loading dock and charge wirelessly while it is being loaded or unloaded.

It also has major implications for industrial equipment, such as forklifts and robotics. With dynamic wireless charging in the floor, those machines can charge while in motion. That reduces the size of batteries needed, lowers equipment costs, and reduces the amount of floor space dedicated to charging. On top of that, we hold the patent for bidirectional wireless charging, which allows energy to move from the grid to the vehicle and back again. That has major implications for utility programs and grid management.

How do you see this work affecting the broader economy?

The more we reduce costs for fleet operators, the more that will ultimately reduce the cost of goods. These companies move goods all over the world, and transportation touches everything. Electrification and better energy management are going to have a major impact not only in the United States but globally. Our technology is designed to support that shift and help make it more efficient.