Today, ChargeNet announced it had signed a deal with global company Mercuria, which has acquired a 20% stake in the company.
Mercuria’s investment will enable ChargeNet to significantly accelerate its growth strategy and give the company the confidence to deliver a superior nationwide electric vehicle charging network to New Zealand EV motorists that is powered by 100% renewable energy.
“This includes rapidly scaling up our existing network and fast-tracking the expansion of our 300kw hyper-rapid charging stations, adding 36 more stations throughout New Zealand over the next three years. The newest generation of EVs can charge at these stations six times faster than on the standard 50kw charging stations, adding 400km of range in 15 minutes. They’re also capable of charging up to six vehicles at a site.” Steve West, CEO and co-founder.
“This deal is not only a major milestone for ChargeNet, it’s a significant step forward for New Zealand’s necessary transition away from fossil fuels to sustainable transportation. We’re really proud to be at the forefront of this shift”.
Mercuria is a Geneva-based US$100b revenue company with a global presence in 54 countries. Their investment underpins ChargeNet’s ambition to deliver world-leading EV charging infrastructure and innovative software technology to support a substantial increase in electric vehicle use around the country.
Steve West adds, “Mercuria is one of the world’s largest integrated independent energy and commodities trading companies. Their investment is not only instrumental to enabling us to deliver a future-proofed NZ-based charging network, it also provides us a pathway to extend our global reach and drive growth in other countries.”
Jean-Francois Steels, who is Mercuria’s Vice President Energy Transition and Emissions Trading said, “Mercuria’s investment in ChargeNet is a tremendous opportunity for both companies. ChargeNet’s current management are best placed to deliver on the business plan, but at the same time, we will seek to support the company with its growth plans by leveraging Mercuria’s global network in Asia and the Middle East, assisting ChargeNet with its electricity sourcing and optimization and working with ChargeNet to offer customers a carbon neutral EV charging experience.