The EV charging service company, NaaS Technology Inc., which is listed in the US and operates in China, has made a public announcement stating its acquisition of Charge Amps AB. The acquisition includes all the shares that have been issued and outstanding in Charge Amps AB.
Why It Matters
Charge Amps, located in Sweden, is a leading integrated EV charging solutions provider. With over ten years in the industry, Charge Amps has consistently emphasized sustainable practices. Their extensive offerings include a comprehensive suite of EV charging hardware and charge point management systems. These cater to various AC use scenarios, from workplaces to homes and other destinations, and facilitate seamless integration with charge point operators. Additionally, they provide enhanced energy management features tailored for the end-users. Through their commitment to facilitating eco-friendly transport solutions, Charge Amps has garnered a significant international footprint.
Key Points
- The acquisition deal values Charge Amps at approximately SEK 724 million (equivalent to US$66.4 million).
- The payment structure for this acquisition combines cash and freshly issued Class A ordinary shares from NaaS Technology Inc.
- Alex Wu, Co-founder, President, and CFO of NaaS, emphasized the significance of this acquisition in the company’s journey to extend its global reach. He expressed his positive outlook on the potential of EV adoption in Europe and conveyed his confidence in the combined capabilities of both teams in cementing a dominant position in the EV charging sector. Wu also hinted at the unveiling of new products through the Charge Amps channels as part of their integration strategy.
- Charge Amps CEO, Olle Tholander, highlighted the prevailing global interest in their market and specifically in Charge Amps. He expressed the company’s proactive approach over recent years in identifying the optimal strategy for sustainable growth. Tholander believes that NaaS brings both the requisite expertise and financial robustness to bolster Charge Amps’ growth trajectory in Europe, ensuring the brand’s continuity. This partnership is poised to facilitate the introduction of more competitive products, hastening the shift towards electrification and paving the way for a smarter ecosystem.
Bottom Line
NaaS Technology Inc.’s acquisition of Charge Amps symbolizes a strategic move towards expanding its global presence, especially in Europe. This collaboration promises mutual growth and the fast-tracking of electrification endeavors on an international scale.
