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Electra Powers Up: €304M Investment Fuels European Electric Vehicle World

The trailblazing French EV fast-charging network, is not just plugging into the future, it's turbocharging the shift
January 18, 2024

The electric vehicle (EV) revolution is gaining speed, and French EV fast-charging network, Electra, just turbocharged the journey with a staggering €304 million equity investment. As the continent steers toward banning new internal combustion engine car sales by 2035, Electra's mission is clear: to create a robust, efficient, and user-friendly charging infrastructure that matches the expected surge of nearly 30 million electric vehicles on European roads by 2030.

Electra is not just a startup; it's a catalyst for change. With a vision to support the transition to cleaner vehicles, Electra deploys lightning-fast, reliable charging stations. The recent funding round, led by new investor PGGM, a powerhouse Dutch pension fund service provider, and joined by existing investors like EurazeoRIVE Private InvestmentSNCF group, and more, propels Electra's total funding to nearly €600 million in just three years. This round stands as the largest in France and the second-largest in Europe within the charging sector.

Founded in 2021 in France, Electra, led by Aurelien de Meaux, Augustin Derville, and Julien Belliato, is not just building physical charging stations; it's crafting a seamless charging experience. Currently boasting 1,000 charging points across eight countries, including Germany, Belgium, Switzerland, and Spain, Electra is gearing up for an ambitious goal: 2,200 stations with 15,000 charging points by 2030. The aim? To make charging as simple as refueling with gasoline but infinitely more user-friendly.

Electra doesn't charge into the future alone. Strategic partnerships with industry giants like IndigoVINCI AutoroutesAccorInvestHonda, and Europcar amplify its impact. These alliances underscore Electra's commitment to creating a network that seamlessly integrates into daily life, whether at supermarkets, hotels, or parking lots.

Dennis van Alphen, Head of Infrastructure Investments at PGGM, expressed full support for Electra's ambition to be a pan-European player in (ultra)fast EV charging. Melissa Cohen, Managing Director of Infrastructure at Eurazeo, hailed the landmark transaction, emphasizing the entry of PGGM and Bpifrance as significant investors. Both PGGM and Eurazeo highlighted Electra's potential to lead in fast charging while delivering a cutting-edge user experience.

Aurélien de Meaux, co-founder and CEO of Electra, declared, "This fundraising will allow Electra to become one of the leaders in fast charging in Europe." With PGGM's backing and continued trust from historical investors, Electra is poised to strengthen its network and expand coverage. De Meaux emphasizes the pivotal role of their user-friendly network in making the transition to electric vehicles not just a necessity but a desirable choice.

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