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Electra, a European company specialising in ultra-fast charging for electric vehicles, announces a €304 million all-equity round. Leading the funding round is the Dutch pension fund PGGM. Bpifrance, through its Large Venture fund, also enters the capital of Electra. Historical investors such as Eurazeo, RIVE Private Investment, the SNCF group and Serena are also participating in the transaction. Overall, Electra has raised almost €600 million in capital in three years with the aim of building one of the first widespread ultra-fast electric charging networks in Europe. Electra’s €304 million fundraising is the largest in France and the second largest in Europe in the electric charging sector. The round was led by a new investor, PGGM, a Dutch pension fund service provider and one of Europe’s largest asset managers, through the PGGM Infrastructure Fund. To renew their confidence in Electra, after having participated in the previous rounds, also numerous historical investors, including Eurazeo, RIVE Private Investment, the SNCF group through 574 Invest, and Serena. Bpifrance is also participating in the round through its Large Venture fund, underlining its support for a French player like Electra (winner of the French Tech Next 40 call and the France 2030 call) capable of becoming a leader and reference in the sustainable mobility sector in Europe. Electra also benefits from the financial support from major public and private investors such as EIP in Switzerland, RATP Capital Innovation, Caisse des Dépôts et Consignation/ Banque des Territoires, Ademe Investissement, Eiffel Investment Group, RGreen Invest, Frst, Allianz, Groupe Chopard and Altarea in France. The company has also entered into numerous strategic partnerships with recognized players, including Indigo, VINCI Autoroutes, Altarea, AccorInvest, Louvre Hôtels Groupe, Delhaize Group, Toulouse Blagnac Airport, InVivo, Groupe Chopard, Stellantis, G7, Bolt, Europcar, Sixt, Honda, MG and Hertz. Europe’s fleet of electric vehicles is set to grow significantly, including a ban on the sale of new internal combustion engine cars from 2035. It is therefore crucial that charging infrastructure expands rapidly to accompany this growth, with more than 30 million electric vehicles on European roads by 2030. Electra aims to support the transition to electric vehicles by massively deploying fast, reliable and easy-to-use charging stations.
Electra’s strengths
The company has 100% proprietary technology. The software is essential for the proper functioning of the stations and to fluidify the charging experience, and is a “pure player”, dedicated exclusively to fast charging: this allows the company to have a specialized structure and ensure greater innovation and faster progress. The company boasts rapid and sustained growth and is currently present in eight countries: France, Germany, Belgium, Luxembourg, Italy, Switzerland, Austria and Spain, with almost a thousand charging points already in operation. Electra quickly won over users thanks to the ease of use of its stations, recording almost 100 thousand charging sessions every month. Electra’s ultra-fast charging stations are mainly found in large urban areas within the parking lots of supermarkets, restaurants, hotels or in public parking lots. In addition, the company has recently opened the first charging station at an airport (Toulouse Blagnac) and several stations in motorway rest areas. This capital increase now allows Electra to enhance its resources to install 15 thousand charging points by 2030 in Europe and develop numerous services, with the ultimate goal of making charging simple and user-friendly. Electra has always stood out for its huge investments in innovation and research to create the best charging experience on the market. A team of 180 experts, including 40 software engineers, work every day to make it easier for users to charge. Thanks to a dedicated app, Electra, for example, has introduced the booking of charging points, which allows anyone to find the nearest charging station and optimize their time during daily activities. Electra is also the ideal partner for professionals such as couriers and taxis who can easily recharge their vehicles, benefiting from services and rates developed ad hoc by Electra.
In Italy
In Italy, Electra has been present since the end of 2022 and aims to invest 200 million euros in the country over the next three years, with the aim of installing three thousand new ultra-fast charging points from north to south. There are currently five stations built by Electra in Italy, two of which are already operational, and by April 2024 a further seven will be installed, for a total of about 100 ultra-fast charging points soon available to citizens and tourists. “This round comes at a crucial time for Italy’s electricity transition,” Eugenio Sapora, general manager of Electra Italia, said in a statement. In a scenario in which the Government is expected to activate new incentives for electric cars in the near future, the development of an ultra-fast charging network is essential to remove the main obstacle that currently holds back the full development of electric mobility, namely the difficulty of refueling quickly. Electra, thanks to the capital increase, will benefit from ample resources to be at the forefront of this energy transition and accelerate the plan to create a widespread network of electric charging infrastructures on the Italian territory, with three thousand charging points in the next three years”.
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