French fast-charging provider Electra has successfully raised €304 million (USD $330 million) in equity funding. The cash injection will help Electra achieve its goal of installing 2,200 stations housing 15,000 charging points across Europe by 2030.
The fundraising is the largest in the charging sector's history in France and the second-largest in Europe. Headquartered in Paris, Electra has grown immensely since their launch in 2021 thanks to widespread EV adoption in Europe and a collective effort to reduce carbon emissions.
Aurélien de Meaux, Co-founder and CEO of Electra, emphasizes, "The transition to electric mobility is a key aspect of the energy transition, with the transportation sector being the largest CO2 emitter in France. We are creating a network that is very easy to use, making the transition to electric vehicles desirable and not a constraint."
Electra aims to become a pan-European player in the fast charging EV infrastructure market. The company's strategic deployment of nearly 1,000 charging points across several European countries sets the stage for their growth.
<script type="application/ld+json">
{
"@context": "https://schema.org",
"@type": "Article",
"mainEntityOfPage": {
"@type": "WebPage",
"@id": "https://www.themoney.game/stories/electra-attracts-eu304m-to-expand-ev-charging-infrastructure-across-europe"
},
"headline": "Electra Attracts €304M to Expand EV Charging Infrastructure Across Europe",
"description": "This is the largest fundraising in the charging sector in France and shows Europe's collective effort to reduce carbon emissions.",
"image": "",
"author": {
"@type": "Organization",
"name": "The Money Game",
"url": "https://www.themoney.game"
},
"publisher": {
"@type": "Organization",
"name": "",
"logo": {
"@type": "ImageObject",
"url": ""
}
},
"datePublished": "2024-01-24"
}
</script>
Actions
Pages
Subscribe for newsletter
Stories
JPM Coin, a blockchain-based stablecoin by JPMorgan is now doing approximately $1 billion in daily transactions. Exclusive to institutional clients, it has processed over $300 billion since launch, emphasizing blockchain's role in global payment systems.
The success of JPM Coin highlights the growing acceptance of blockchain in traditional finance and digitization in conventional banking systems.
JPM launched a pilot with Onyx (JP Morgan’s blockchain arm) titled Avalanche, a smart contracts platform to tokenize portfolios. The storied bank shows no sign of slowing down in the blockchain space.
The rapid growth of JPM to support Euro transactions and integration with Siemens AG illustrates the versatile application of blockchain in corporate finance.
While JPM Coin's success is notable, it operates in a controlled environment unlike decentralized cryptocurrencies, raising questions about its broader impact on the crypto market.
Story
Canada's latest Green Bond Program update integrates nuclear energy expenditures as green investments, aligning with the 2030 Emissions Reduction Plan and global standards.
The framework update follows a successful inaugural $5 billion Green Bond launched in March 2022, which attracted over $11 billion in orders.
The program reflects a perspective shift in sustainable investment strategies, recognizing nuclear energy as a legitimate green alternative.
The Canadian government plans another green bond issue under the updated framework. This will further test the market receptivity for nuclear-inclusive green bonds.
Story
Forge Nano Inc, a leading materials science company, launched a new $165 million lithium-ion battery manufacturing business in Raleigh, NC called Forge Battery. The Gigafactory will produce Atomic Armor surface technology coated lithium-ion cells suitable for defense, aerospace and specialty EVs.
The new Gigafactory bolsters the U.S. battery supply chain and job market, reducing global reliance on foreign suppliers.
“We are extremely excited to launch Forge Battery in the Battery Belt, where we intend to produce batteries for the world’s most demanding applications, while showcasing the power of Forge Nano’s Atomic Armor coating equipment in a large-scale manufacturing environment,” says Paul Lichty, CEO of Forge Nano.
Forge Battery is set to hold a groundbreaking event in early 2024, positioning Raleigh as a key hub in the emerging Battery Belt.
Story
Innovators
Scroll
Open
Close