EV connect announced that it has been acquired by the sustainability-focused and automation digital solutions provider Schneider Electric. The Paris-based global electric, equipment manufacturers and services giant Schneider wishes to extend its financial backing to EV connect. It intends to utilize this acquisition to build its charging capacities and footprint in the United States.
The Chief Innovation Officer at Schneider, Nadege Petit, said, ‘ At Schneider Electric, we believe that electric and digital are the recipes for a more sustainable and resilient digital world. EV Connect has a very similar vision. We look forward to working together to accelerate the EV revolution.’
This investment will enable EV Connect to accelerate its growth, expand its reach and support other energy companies. EV Connect currently manages about 10,000 EV charging points across North America. It serves customers across 41 states in the US, including Avista Utilities, Verizon, New York Power Authority, Marriott, and other municipalities.
About EV Connect
Jordan Ramer, the founder, and CEO of EV Connect made it his mission to tackle environmental pollution and its effect on society. EV Connect expects charging an electric vehicle to be as simple as filling a gas station or operating an ATM. The company offers an open charging platform that helps with the set-up, management, and optimization of charging stations. Their customers range from owners of multifamily properties, and companies, to EV-charging network providers that operate public charging sites. Also, EV companies that would love to deploy chargers to accompany their fleet of cars would go to EV Connect. They access the customer’s needs, recommend the best solution, and oversee the installation and management of charging stations. Afterward, they ensure an optimal and positive experience for the drivers.
While other EV charging companies are involved in hardware development, EV Connect works with a cloud-based software platform that incorporates several EV chargers and charging network platforms. The information is then available for drivers on their mobile and web-based apps, which helps customers assess the billing system, charge efficiency, and other smart charging features. This flexibility allows customers to choose from a variety of charging facilities following EV Connect’s guidance, preventing them from the blue peradventure an EV charging company shuts down.
EV Connect raised about $50 million from investors like Mitsui & Co. and Ecosystem Integrity Fund during its funding in 2009. While the financial term of its recent acquisition was not revealed, EV Connect would remain an independent business with Schneider. The current management, the CEO, and his team would continue to lead its operations as a direct subsidiary of Schneider.
‘We are thrilled to partner with Schneider Electric. They not only support our strategic goals but fully embrace the value of electricity as a transportation fuel managed by a robust and feature-rich networked EV charging platform.’ Ramer commented about this acquisition.
EV Connect had previously announced plans to expand into Canada and now has an office in Toronto.
‘With Schneider, we are positioned to strengthen our presence in the EV market. I think the main thing that Schneider is bringing to us is a global reach.’ – Ramer.
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