IONITY, a Munich-based fast-charging network, announced that it has raised €700M in a fresh round of funding from new investor BlackRock Global Renewable Power and other existing investors.
The funds will enable IONITY to accelerate its growth and network expansion plans across Europe, while improving the customer charging experience.
Based out of New York, BlackRock is an investment company that offers its services to institutions, intermediaries, foundations, and individual investors.
BlackRock is the first company from outside the automotive sector to be a shareholder in this joint venture through its Global Renewable Power platform.
The BlackRock Global Renewable Power platform has invested directly in over 300 projects globally, including onshore wind, offshore wind, and solar photovoltaic projects.
David Giordano, Global Head of Renewable Power at BlackRock, says, “Electric vehicle charging infrastructure is vital to achieving a net-zero future. IONITY is one of Europe’s leading EV charging networks, bringing together auto industry pioneers to create a seamless experience for emission-free driving across Europe. We are delighted to be supporting their growth ambition and providing our clients with access to an innovative company that is powering the clean energy transition.”