Eurazeo has announced its Eurazeo Transition Infrastructure Fund will make an additional investment in Electra, a company specializing in fast charging solutions for electric vehicles. This commitment comes as part of a €304 million funding round - a record amount for the sector - thereby providing the resources the company requires to develop its European business.
Eurazeo first acquired a stake in Electra’s capital in June 2022, and became a cornerstone investor in the company. Electra has since witnessed a sustained period of rapid growth, expanding operations in eight European countries (France, Germany, Belgium, Luxembourg, Italy, Switzerland, Austria and Spain), deploying nearly 1,000 charging hubs, and establishing several strategic partnerships (including VINCI Autoroutes, Altarea, AccorInvest, G7, Stellantis, MG, Honda, and Europcar).
Specializing in electric vehicle charging solutions for urban areas, Electra is helping to facilitate the transition to electric mobility through the widespread deployment of reliable, easy-to-use, and rapid charging hubs in the public domain.
With this new round of fundraising, which marked the arrival of blue-chip investors – including the Dutch pension fund PGGM and French government investment arm Bpifrance – and with the renewed support of its existing investors, in particular Eurazeo, as well as RIVE Private Investment, Serena and the SNCF Group via 574 Invest, Electra has the resources for its next stage of growth.
With this additional investment in Electra, Eurazeo continues to deploy its Eurazeo Transition Infrastructure Fund into sustainable assets, having already invested in six companies involved in the ecological and digital transition (Ikaros Solar, Resource, Etix Everywhere, TSE, and 2BSI).
Aurélien de Meaux, co-founder and CEO of Electra, said:
“This round of fundraising will enable Electra to become one of the leading names in the European fast charging market. The support of PGGM, a long- term, blue chip European investor, and the renewed trust of existing investors, such as Eurazeo, will help us bolster our network and increase investments to continue expanding our coverage. The transition toward electric mobility is an essential component of the energy transition, as the transportation industry is the largest emitter of CO2 in France. We are creating a network of extremely easy-to-use hubs so people are excited about switching to an electric vehicle, rather than feeling they have to.”
Melissa Cohen, Managing Director – Infrastructure at Eurazeo, said:
“We are really pleased about the scale of the funds raised by Electra, which sees the arrival of high-profile investors. This injection of capital will enable the company to finance its expansion in Europe while continuing to provide the best user experience possible. We are proud to reiterate our support to Electra and help driving the transition toward a low-carbon economy by encouraging people to adopt electric vehicles, which is in line with our sustainable investment objectives.”
Dennis van Alphen, Director of Investment in Infrastructure at PGGM, said:
“The PGGM Infrastructure Fund fully supports Electra’s ambition to become a pan-European player in the market for ultra-rapid electric vehicle charging hubs. The company has a first-rate management team and occupies a solid position in strategic locations within a highly buoyant market that is set to enjoy rapid expansion in Europe over the coming years. The investment in Electra offers our clients, including the Pensioenfonds Zorg en Welzijn (PFZW), a strong, predictable yield over the long term. Here, policyholders’ investments are allocated to financing the transition toward sustainable electric mobility, thereby contributing to the sustainability objective, which is key to our clients. A good yield for clients’ policyholders goes hand in hand with a sustainable future.”