EVBox, the largest European player in electric vehicle charging, to be acquired by ENGIE
EVBox announced that it will be acquired by ENGIE. The Netherlands-based company is one of the world's leading electric vehicle charging services providers with over 40,000 charging stations in service.
Amsterdam, The Netherlands, March 14th 2017 – EVBox, international market leader in electric vehicle charging industry, and ENGIE, French multinational and worldwide leader electric utility company, announced during rEVolution 2017 they have entered into a definitive agreement under which ENGIE will acquire EVBox.
EVBox: Claiming a global leading position
EVBox has been developing and selling electric vehicle charging solutions since 2010 and has already established its market leadership in its home country. The company sells charging stations, charging management software and services to business, public sector and residential customers and has developed a reputation for market-leading quality and innovation. EVBox has recently started extending its geographical reach into Belgium, France, Scandinavia, Germany, the UK and the USA, while still reaching over 20 countries through a strong base of partners.
Gilde Equity Management invested in EVBox in August of 2014. At the time EVBox was a 100% Dutch-based business with little to no international presence. Since then, we accelerated the business rapidly. We moved headquarters to Amsterdam, grew the team from 18 to over 65 employees and expanded into 10 new countries in little over two years. We re-designed the product’s architecture and created a best-in-class charging solution that is scalable and able to be deployed anywhere in the world. EVBox will continue to operate fully independently under its own brand. With the development of a new generation of charging solutions and software as well as with the backing of ENGIE, we have all the ingredients to claim a worldwide leading position and bring our solution to millions of customers.
EVBox will retain its brand, culture and independence as a leading company in the electric vehicle charging market. Kristof Vereenooghe will remain as CEO of EVBox, reporting to Thierry Lepercq, Executive Vice-President Research, Technologies & Innovation at ENGIE.
E-mobility: global fast-growing clean energy opportunity for ENGIE
The electric vehicle market is growing rapidly as costs come down, performance improves and an attractive new choice of vehicles comes to the market. This sector represents a natural growth opportunity for ENGIE in line with their strategy to develop new, high-growth, innovative businesses in the decentralized, decarbonized and digital energy space. By combining ENGIE’s global presence and energy capabilities with EVBox’s leading technology and thought leadership in the electric vehicle charging market, ENGIE will be in a unique position to offer customers in all segments, across the globe, innovative, attractive and comprehensive electric vehicle charging and related energy services. The acquisition of EVBox is an acceleration of ENGIE’s strategy as an energy revolution pioneer.
EVBox has already demonstrated the commercial success and quality of their solutions by deploying more than 40,000 charging stations across 20 countries. Thanks to this combination, ENGIE intends to be a major global player in this space facilitating the development of clean mobility for its customers, while providing the essential energy solutions to manage the energy needs of electric vehicle charging for customer sites and the electricity network.
ENGIE views EVBox’s acquisition as a strategic step towards a completely new energy paradigm the world is shifting towards. It’s also ENGIE’s first major investment in one of our high-growth strategic priority areas. ENGIE and EVBox share a common vision for electric mobility and a conviction that combining our capabilities provides a rare opportunity to create a global, leading electric vehicle charging player uniquely positioned to offer customers very attractive charging and energy solutions