Lisbon-based Powerdot, an EV charging point operator, announced on Friday that it has secured €165M in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale.
The green financing facility, totaling €165M with an additional uncommitted accordion facility of €60M, will enable the Portugal company to expand its network of EV charging points to over 3,100 locations by 2026.
This investment will also be utilised to enhance the technology and user experience, as well as to grow and develop the company’s team.
The financing has been structured by the Green Loan Principles defined by the Loan Market Association, signifying the company’s dedication to low-carbon mobility and innovation.
The announcement comes five months after raising €100M from Arié Group and Antin Infrastructure Partners.
Additionally, Powerdot has secured more than €465M in funding commitments to date, underscoring robust company growth and continued investor confidence.
Luís Santiago Pinto, Powerdot co-founder and CEO, says, “This substantial financing is a testament to our financial partners’ confidence in Powerdot’s vision and operational capabilities. With this funding, we are poised to accelerate our deployment strategy, bringing EV charging solutions to more European locations and supporting a widespread transition to sustainable transportation.”
“Powerdot’s long-term ambition and goals allow us to explore different financial tools for funding. With great excitement, we welcome ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale to our mission of accelerating sustainable mobility,” adds Pinto.
Powerdot: Pan European EV charging network
Founded in 2018 by Luis Santiago Pinto and Jose Sacadura, Powerdot claims to be one of the fastest-growing owner-operators of charging points for electric vehicles in Europe.
The startup invests, installs, and operates EV chargers. The company aims to create a charging experience in people’s lives by installing chargers in everyday, high-traffic locations where people naturally park their cars.
At present, the company works with over 1200 partners across Portugal, Spain, France, and Poland like CBRE, Eleclerc, Galp, Accor, Cora, Intermarché, Eurocash, Ibis, Carrefour, among many others.
Powerdot has over 6,000 charging points in 6 countries (Portugal, Spain, France, Poland, Belgium, Luxembourg), and is expanding rapidly.
This growing network has been built through the company’s commercial partnerships with large retailers, shopping centres, motorway service stations, and fleet operators.
As part of this financing, Santander acted as sole financial advisor and green financing coordinator, McKinsey & Co. acted as commercial and technical adviser, Clifford Chance and PLMJ acted as legal advisers to Powerdot.
Gibson Dunn and Morais Leitão acted as legal advisers to lenders, and EY acted as financial and tax adviser and model auditor.
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