Cleantech Invest is entering the electric vehicle market by

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Mar 3, 2015 at 2:15 AM

Cleantech Invest is entering the electric vehicle market by investing in PlugSurfing GmbH

Cleantech Invest Plc Company Release 3 March 2015 at 9 am (EET) Cleantech Invest is entering the electric vehicle market by investing in PlugSurfing GmbH Cleantech Invest Plc has made an investment in PlugSurfing GmbH, taking a stake of 3.45%. Other participants in the investment round include PlugSurfing's advisor Dr Gregor Matthies, as well as a US-based incubator and venture fund. PlugSurfing will use the investment for international expansion. By aggregating many large charging point operators into one platform, PlugSurfing can be regarded as a market leader in location finding and payment services of electric vehicle charging points. With PlugSurfing's App a driver can find, access and pay for charging at different electric car charging stations, without being a direct customer of a certain charging station provider. PlugSurfing now operates its payment service in 5 countries covering over 10,000 charging points and aims to have Europe-wide coverage by the end of 2015. Transactions for charging points will be the main source of revenue in future, and the company already works with a number of major OEMs. Based on global EV registrations, the market for electric vehicle has grown by 126% between 2012 and 2014 with over 700,000 EVs currently on the road globally. With growth estimated to continue, forecasts predict that there will 10 million EVs on the road by the end of 2020. Alexander Lidgren, Managing Director at Cleantech Invest: "We believe that PlugSurfing has already built a unique position to capitalise on the development of this market and believe that the team is perfectly suited to do this. We are pleased to step into the electric vehicle business space through this deal. The estimated growth figures in this market are very exciting and it is truly inspiring to be part of the evolution of electric vehicles." "The investment is also the first one for us in Germany, a market where the focus on energy efficiency is peaking right now as the country leads the way to become fossil-free through the Energiewende." "As we now become more active on the German market we believe it will benefit more of our cases. Pay-back periods for energy efficiency solutions are a direct consequence of energy prices. If you compare energy prices in Helsinki and Berlin, they are more than double in the latter, making it a very interesting market for many of our cases." Adam Woolway, Managing Director at PlugSurfing: "We are truly delighted to work with Cleantech Invest who, not only share our core beliefs around sustainability, innovation and the EV market, but also open up a new opportunity for our services in Scandinavia. With investment from the US and Germany as well, we are entering into a very exciting phase at PlugSurfing." CLEANTECH INVEST PLC Further information: Alexander Lidgren, Managing Director of Cleantech Invest Plc, tel. +46 73 660 1007, alexander.lidgren@cleantechinvest.com Certified Advisor Access Partners Oy, tel. +358 9 682 9500. Cleantech Invest in brief Cleantech Invest focuses on clean energy and efficient use of natural resources. The company owns minorities in a diversified portfolio of companies and is actively looking for new capital light and high impact businesses within the cleantech universe. Cleantech Invest invests in the most promising early-stage and growth cleantech companies in Finland, Sweden and in the Baltic Sea area. The company management team members are international pioneers in cleantech investing. Cleantech Invest is also a designated Accelerator in the Vigo Program initiated by the Ministry of Employment and the Economy. www.cleantechinvest.com. PlugSurfing in brief PlugSurfing is Europe's leading app for EV driving and biggest community of electric vehicle drivers. Founded by Adam Woolway (UK) and Jacob van Zonneveld (NL), the young and international Berlin-based start-up offers free apps to revolutionise sustainable mobility, including the locating, and paying for charging points. PlugSurfing's vision is to remove all barriers that currently exist to carbon-free mobility. [HUG#1898949]

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

First Horizon's $25M Bet: New Center Transforms Houston

New Markets Tax Credits: A Game Changer First things first, if you're thinking this is some typical charitable write-off, think again. First Horizon Bank (NYSE: FHN) is deep in the mix of something pretty transformative in the world of finance and community support. They're not just throwing money at a problem and hoping it sticks. Nope, we're talking real strategy with a...

ACME's AI Innovation Shakes Up Filmmaking Scene

The Game-Changer in Virtual Production You ever hear about the Grey Box™ phenomenon? Sounds like a sci-fi gizmo, right? Turns out, it's the real deal and ACME Media's been riding this revolutionary wave straight to the top of the film industry ladder. Their approach with this AI-driven gizmo isn't just about cutting-edge tech wizardry—it's reimagining how we shoot...

Citigroup, Scotia Aid TSTT in $500M Note Offering

Kicking off with a banger that’s got financial water coolers buzzing, Greenberg Traurig just pulled a rabbit out of the hat helping Citigroup and Scotia Capital orchestrate a chunky near $500 million dual-currency notes deal for Telecommunications Services of Trinidad and Tobago Limited (TSTT). Now, this isn’t your run-of-the-mill market maneuver. We're seeing a...

Toys"R"Us Rolls Out 160 U.S. Stores, NYC Celebration

Rebuilding the Toy Empire After a rough few years, Toys"R"Us is clawing its way back into the hearts—and wallets—of American shoppers. With 160+ new standalone stores popping up like mushrooms after rain, these guys aren't just playing games. This is a strategic move to reestablish their presence in the retail landscape just before the holiday shopping frenzy kicks...

Terra Kaffe's Big Win with Oprah's Endorsement

Terra Kaffe Hits the Jackpot with Oprah Sometimes, destiny has a way of handing out golden tickets, and for Terra Kaffe, receiving a nod from Oprah Winfrey's revered list of Favorite Things for 2026 is nothing short of that. I mean, you can't underestimate the pull Mrs. O has. Her endorsement isn’t just another celebrity pat-on-the-back, it’s a megaphone blaring...

CVRx Faces Legal Storm: Investors Grapple with Fallout

CVRx in the Crosshairs: Legal and Operational Woes There's a storm brewing over at CVRx, Inc. (NASDAQ: CVRX), and it's pulling investors down a hell of a financial rabbit hole. You might think you're in the clear with a company like CVRx that boasts approved devices, but think again. Recent revelations have shown that even those with FDA stamps aren't immune to the...

YYForce Expands in UAE with Key Hospitality Wins

Unveiling YYForce's Middle East Strategy Smack in the middle of an aggressive Middle Eastern expansion, YYForce (NASDAQ: YFOR) is making waves with some new headline-grabbing contracts in the UAE. This ain't just a side hustle—it's big time. They're planting their flag across the luxury hospitality sector like they're going for a moon landing. The recent announcement...

Immunic, Inc. Steams Ahead: Phase 3 Trials Hinge on MS Data

A Pivotal Moment for Immunic We’re staring down a critical December for Immunic, Inc. as they trot out top-line data for their Phase 3 ENSURE trials aimed at relapsing multiple sclerosis (MS). Now, I’m all ears wondering if those trials can hold water — success could morph them from a tinkering biotech into a commercial giant. For market vultures like us,...

CR&R Workers Join Teamsters, Fight for Fair Conditions

Waste Workers Push Back Against Corporate Pressure The Southern California sun isn't the only thing heating up these days; the waste workers at CR&R Environmental Services have cranked up the heat by voting to join Teamsters Local 396. It's like Groundhog Day in the world of labor rights—same story, different locale, workers banding together for a fair shot. A Stand...

Kentucky Power's Bold Plan to Boost Local Economy

Electricity, Economy, and Execution Kentucky Power just laid out plans that could massively swing the pendulum for eastern Kentucky's economic prospects. They've put filings on the table for the Kentucky Public Service Commission that, if approved, promise big economic benefits. We're talking about a potential infusion of $500 million through fixed-rate offsets and an...