BANGKOK – As the EV industry in Thailand continues to transform, more exciting news comes from one of the companies at its forefront, EVLOMO Technologies. To start the year, EVLOMO Technologies has secured a valuation of 210 million USD in its latest round of funding. EVLOMO Technologies will be rolling out a super-fast DC charging network across the nation throughout 2022 and beyond, which would help alleviate range anxiety among EV drivers and help make the experience of driving and charging an electric vehicle convenient and more comfortable. The latest investment from Deer Isle Group in the company comes as the transition to electric mobility is accelerating in Thailand.
Along with the latest investment, Dianna Raedle, CEO/President and Founder of Deer Isle Group will join the Board of EVLOMO Technologies. She brings decades of executive and board-level leadership experience in the financial sector. She was co-founder & managing member of Millennium Americas and worked in structured finance at institutions such as CS First Boston, SBC Warburg, and Citibank. Diana is also currently a board member of OceanGate, Princeton University Entrepreneurship Council Alumni Advisory Board and Harvard Business School Club of NY. Dianna holds an MBA from Harvard Business School and a BA from Princeton University.
Deer Isle Group is a fintech investment banking and advisory firm based in New York, which has raised over $5 billion in capital since its founding. Deer Isle Group empowers capital seekers with the right tools to ensure transparent, smooth, and efficient capital raising.
EVLOMO is also creating an 8 GWH battery plant in the Eastern Economic Corridor of Thailand at an investment of USD 1.2 Billion under a separate unit, to cover all aspects of the e-mobility segment.
“The rapid growth of EVs in the coming years will necessitate greater charging infrastructure. EVLOMO Technologies has the early mover advantage in building EV charging network in Thailand, one of the largest auto markets in World, providing easy access to EV drivers and Deer Isle is proud to be a part of its growth journey.” said Dianna Raedle, CEO/President and Founder of Deer Isle Group.
Thailand made a goal of having 1 million EV’s on its roads by 2025, with a figure of 15 million to be expected 10 years from now. EVLOMO Technologies’ team is focused on addressing the EV charging infrastructure needs of the rapidly growing electric vehicles segment in Thailand and is working in line with the Government’s vision of making Thailand the EV hub of the region.
Sharing the organizational vision, CEO, Nicole Wu said, “We are working hard to make it easy for electric vehicle drivers to access EV charging stations. It is our privilege to have a visionary leader, Dianna Raedle to join our Board and guide us in this journey of ours. Her experience with Deer Isle will only strengthen our long-term vision of electrifying the entire transport sector”
