ubitricity closes new 20 million round with Honda as new partner
Berlin | Munich | Paris | Tokyo — ubitricity Gesellschaft für verteilte Energiesysteme mbH receives €20 million in a new financing round that will enable the company to accelerate growth and further develop its mobile metering technology. The investment was made by existing shareholders EDF and Next47 (Siemens’ venture capital subsidiary) and by Honda Motor Company as a new partner.
ubitricity has developed a unique smart charging and billing solution for smart AC charging of electric vehicles in public and private spaces. With mobile metering technology, municipalities, property owners, fleet and fuel card operators, and end users can benefit from significantly lower charging infrastructure costs as well as free choice of energy provider and kilowatt-hour accurate billing.
The new funding is intended to accelerate the expansion of charging infrastructure, particularly lantern charging points and charging points in real estate developments in the UK, Germany, France and the US. In parallel, the technology will be further developed for the mass market expected from 2020 and the conditions for services across the entire spectrum of V1G and V2G will be created.
“With Honda Motors, we have another strong partner on board who shares our vision of a smart electric vehicle that brings the necessary technology for charging and charging clean electricity and for smart charging services,” says Dr. Frank Pawlitschek, CEO and Co-Founder of ubitricity.
The company has made significant progress in developing its mobile metering technology, market presence and market access, e.g. in London. In addition, ubitricity is driving forward the installation of charging stations in cities as part of the German “Immediate Clean Air Program”, with more than 3,000 charging points to be installed in Berlin, Hamburg and Dortmund. Success in the highly competitive NYCx Climate Action Challenge, which is expected to lead to a pilot project in New York, has further confirmed the global interest in the company’s products and technologies. “We are now putting charging points right at people’s doorsteps — where millions of Europeans park their vehicles today, and at a time when more and more electric vehicles are being sold,” says Knut Hechtfischer, co-founder of ubitricity.
The new capital and the share increase by EDF and Siemens again emphasize the importance of ubitricity as a key pillar in the electromobility strategies of both companies.
Last October, the EDF Group unveiled its electric mobility plan to become the leading energy company in its four largest European markets: France, the UK, Italy and Belgium.
In addition, Citelum (100% subsidiary of the EDF Group) and ubitricity are working together to integrate ubitricity’s innovative solution into Citelum’s “Smart City” product line.
About ubitricity — Gesellschaft für verteilte Energiesysteme mbH
Affordable smart charging infrastructure for electric cars wherever they are parked for longer periods of time was the goal of Knut Hechtfischer and Dr. Frank Pawlitschek when they founded ubitricity in 2008. Today, the company is one of the leading providers of intelligent solutions for charging and billing electric cars. ubitricity combines technical know-how, such as the development of the mobile electricity meter, with the possibilities of digitalization. The result is technically simplified and thus less expensive charging points that enable the nationwide expansion of the charging infrastructure. This approach solves the challenge of vehicle-specific billing. In the future, the mobile electricity meter will also enable the grid integration of e‑vehicles as addressable mobile storage devices. Electric cars become manageable as part of a distributed and mobile storage network and can thus make a significant contribution to the energy transition. www.ubitricity.com