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Leading Swedish provider of EV charging solutions, Charge Amps, raises 150 million SEK in new investment to meet demand for EV chargers across Europe

12/04/22

The funding will be used to further grow Charge Amps’ European presence ahead of its IPO, which is planned to take place this year

12.04.2022 – STOCKHOLM, SWEDEN: Charge Amps (www.chargeamps.com), a leading provider of EV charging solutions, today announces that it has completed a directed share issue raising 150 million SEK in investment from existing shareholders OK ekonomisk förening, Skellefteå Kraft, and Swedbank Robur and new investors including Concejo AB (publ), LMK, and Quinary Investment. The investment brings total funding to date to 358 million SEK.

The funds will be used to further grow Charge Amps’ European presence, including in the UK, Germany, and Spain, where it opened offices in 2021, and in the Nordics, where, in its home country, Sweden, the company is currently the second-largest player of its kind. In addition, the investment will be leveraged for product development and to maintain momentum and operational excellence ahead of the company’s IPO, which is planned for 2022.

Founded in 2012, Charge Amps develops smart charging stations, cables, and dedicated cloud software for use at home, in connection to commercial properties and offices, and in public environments. Since the launch of its first charging station, in 2015, Charge Amps has made over 100,000 charge points for customers in 15 countries.

In 2021, the company reported its strongest year since its inception, with sales increasing by 145% compared to the previous year whilst maintaining a solid gross margin.

Anders Bergtoft, CEO of Charge Amps comments: “It is fantastic to have the continued backing of our brilliant existing shareholders while getting to welcome new investors aboard our journey. Over the past year, we have delivered on our goal to make big market moves across Europe and to continue our growth in the Nordics. With this funding, we are in an ideal position to build on this momentum and supercharge our work to bring smart, user-friendly, and great-looking products to customers while playing our part in bringing about a cleaner and greener world.”

About Charge Amps

Charge Amps is a leading, Sweden-born provider of innovative and sustainable charging solutions for electric vehicles. Charge Amps develops smart and user-friendly products for use in homes, offices, and public places. Charge Amps was founded in 2012 in Stockholm, Sweden, and is undergoing rapid international expansion, with 120 employees in seven countries, and sales across 15 markets. For more information, visit www.chargeamps.com

Advisors:
ABG Sundal Collier AB acted as Sole Global Coordinator and Bookrunner in connection with the private placement. Baker & McKenzie Advokatbyrå KB acted as legal counsel to Charge Amps.