XCharge Group, a Hamburg, Germany-based provider of battery-integrated charging solutions, received an investment from Shell Ventures.
The amount of the deal was not disclosed.
The company intends to use the funds for three key initiatives:
- Global Product Line Expansion: XCharge plans to enhance its battery-integrated product line, catering to the increasing demand for fast-charging solutions in the EV market.
- Research and Development Facility in Hamburg: The company will establish a R&D facility at its headquarters in Hamburg, Germany, reinforcing its commitment to technological innovation.
- US Manufacturing Facility in Texas: XCharge has established a new manufacturing facility in Texas, US., focused on producing EV charging solutions designed for U.S. grid, and aiming to delivering improved return on investment for customers.
Founded in 2015, XCharge Group has been at the forefront of EV-charging technology, specializing in battery-integrated fast charging solutions deployed in over 25 countries globally with a track record of delivering over 40,000+ chargers to business partners worldwide.
The company has recently launched a new 400 kW high-power charger that allows clients to complete a charging session within 10 minutes.
FinSMEs
20/09/2023