Amsterdam-based Pluq, a specialist in electric vehicle charging solutions, has received a €50M framework credit facility from Swedish investor P Capital Partners.
Pluq advocates slower charging as a more efficient and cost-effective solution, which helps mitigate issues on the electricity grid. “Because many parties focus on fast charging and public charging, there is a world to be won in the semi-public, destination-based domain,” says Lars de Boer, Investment Manager at P Capital Partners.
“Scale is everything when it comes to charging,” adds Managing Partner Ulf Hamberg. “We are pleased that we can help the Pluq team take the next step with this financial framework.”
Capital utilisation
Focusing on Destination Charging, Pluq aims to install charging stations at locations where users typically spend extended periods, such as hotels, offices, amusement parks, and hospitals.
By leveraging existing infrastructure, the company seeks to provide a cost-efficient and energy-saving charging solution while generating additional revenue for property owners through shared proceeds.
In a statement translated from Dutch, Pieter Zijlema, CEO and co-founder of Pluq, says, “We can now further shape our plans so that electric driving becomes accessible to everyone, without disrupting the electricity grid.”
“In terms of charging, faster is not always better, but the expansion of our network cannot go fast enough for us.”
Charging-as-a-Service for a sustainable future
Founded in 2019, Pluq offers organisations Charging-as-a-Service, financing, installing, maintaining, and managing electric car charging points on private parking lots at no cost to the organisation.
This service enhances visitor satisfaction, promotes a sustainable image, and generates revenue, all while eliminating the need for upfront investments in charging solutions. Pluq covers installation and maintenance costs, allowing organisations to focus on their core development.
Additionally, for every charging station installed, Pluq partners with Trees for All to plant a tree, further contributing to environmental sustainability. The service includes options for scaling up.
Brief about P Capital Partners
P Capital Partners offers private credit solutions to European entrepreneur- and family-owned companies, as well as developers of sustainable infrastructure. With over €5B invested in its 20-year history, the firm aims to help businesses reach their full potential and achieve sustainable profitability.
The firm provides financing with ticket sizes of €10M or more and has backed over 160 companies, supporting growth from early stages to infrastructure scale.
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