European charge point operator (CPO) Powerdot has wrapped up €165mn ($180mn) in green financing from banks ABN Amro, BNP Paribas, ING, MUFG, Santander, and Societe Generale to build out its network of ultra-fast charging points. The package also includes an additional €60mn of uncommitted accordion facility.
The firm aims to reach 3,100 charging locations by 2026. As of February this year, the firm could boast boasts over 5,000 active charging points across 1,300 locations, with another nearly 10,000 charging points across 1,400 locations in the planning stage.
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Last year saw a 201pc increase in Powerdot’s operational charging points and a 218pc rise in kWh consumption. In its home Portuguese market it has over 1,300 operational charging points, while it has over 3,700 operational charging points in France, where it saw a 500pc year-on-year growth in kWh consumption in 2023. In Spain, Powerdot activated over 300 new charging points in 2023 alone, and it is also “rapidly expanding” its presence in Belgium and Poland.
It already raised €100mn in February this year, in a round led by two existing investors, private equity firm Antin Infrastructure Partners and Portuguese cosmetics distributor Arie Group. Its total fundraising now tops €465mn.
“With this funding, we are poised to accelerate our deployment strategy, bringing EV charging solutions to more European locations and supporting widespread transition to sustainable transportation,” says Luis Santiago Pinto, Powerdot co-founder and CEO. “Powerdot’s long-term ambition and goals allow us to explore different financial tools for funding.”
The new financing has been structured according to the Green Loan Principles defined by the Loan Market Association.
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