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Poland´s PGNiG invests in electric vehicle charger manufacturer

In 2020, PGNiG said it plans to spend as much as $1 billion on the creation of a dedicated renewable energy division

Warsaw, April 19 - Neftegaz.RU. Polish oil & gas companyPGNiG announced that it acquired shares in Enelion, a provider of comprehensive solutions for electromobility.
The 1st stage of the investment is worth $667 000, and its total amount may reach $1.57 million.

Enelion provides a range of solutions including smart electric vehicle chargers, a system for managing charger networks, tariff plans and payments, and a mobile app enabling EV drivers to remotely control charges, energy consumption, and charging costs.

Arkadiusz Sekściński, VP of the PGNiG Management Board, Development, said:
  • Demand for CNG and LNG vehicles and gas refuelling infrastructure in transport is growing, as is the number of electric vehicles, which drives the rollout of charging points
  • We look at this investment as a source of business profits, but at the same time, as the PGNiG Group, we support projects contributing to a low-carbon future
As the 1st tranche of the investment, PGNiG Ventures is to acquire around $657 000 worth of shares in Enelion.
The maximum investment time horizon is 5 years.

Polish Enelion has designed, developed and manufactured electric vehicle charging terminals since 2015.
The company recorded an over 4-fold increase in sales over the last 2 years.

It is consolidating its position in Poland and Europe, with as much as 70% of AC chargers manufactured by Enelion sold to customers abroad.
The company aims to increase production from the current 400 to more than 5,000 AC units per month in 2025 and grow exports to the US, Canada, Eastern Europe, South America, the Middle East and Africa.

The investment in Enelion is PGNiG Ventures’ 2nd transaction this year.
In March, the fund acquired shares in ICsec, a Poland-based manufacturer of cyber security systems for industry, for $1,05 million.

Source : Neftegaz.RU


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