Berlin-based Service4Charger GmbH has received a €7.5 million investment from bp ventures, leading the €10 million Series A funding round.
Smart Energy Innovationsfonds, the corporate venture capital arm of Energie 360°, a Swiss energy provider that invests in sustainable businesses across the energy sector in Germany, Austria, and Switzerland, also contributed €2.5 million to the round.
The cumulative amount will be used for installing, operating, and maintaining EV charging infrastructure.
“The new capital will enable Service4Charger to expand into additional markets and add more local operational staff and Service4Charger Mobile Heroes to our team across Germany,” said Lucas Althammer, the CEO of Service4Charger.
Service4Charger’s “Mobile Heroes” are digitally equipped electrical engineers who install and maintain charging stations for electric cars in Germany.
With over 85 employees in 25 cities, they operate in various charging scenarios, including fleet depots, public stations, and homes.
Their team operates in Aachen, Berlin, Hamburg, and Munich, ensuring efficient charging solutions for electric cars.[1]
“In this way, we are doing our part to expand the charging infrastructure for e-vehicles, which is critical to the transition to a lower-carbon European economy. We welcome the funding from, and collaboration with, bp and its German brand Aral as well as Energie360° as we work together to drive the electrification of mobility,” added Althammer.
How bp Ventures is Contributing to the Global Shift Towards Electric Mobility
In May 2023, fully electric cars accounted for 17.3% of Germany’s new registrations.
The number is expected to multiply as the EU aims to have 30 million EVs on the road by 2030.
Electrical engineers must ensure charging infrastructure is rolled out efficiently and maintained to prevent downtime and meet demand.
bp is expanding its electric vehicle charging offerings, with 22,000 EV charging points presently, and are aiming for over 100,000 worldwide by 2030.
In Germany, where they operate under the Aral Pulse brand, it has 1,500 ultrafast charging points.
Aral Pulse and Service4Charger will jointly offer Aral customers planning, installation, operation, and maintenance of charging point infrastructure.
By collaborating with skilled employees, Bp and Service4Charger can deliver leading EV charging solutions for workplaces and on the go.
“As bp pulse rolls out EV charging, it is essential that we have the right skill sets and expertise to make charging installations an efficient process and to service our growing network of EV charge points. The investment into Service4Charger brings bp a collaboration that can enable rapid and reliable installation and servicing of EV charge points in Germany,” said Gareth Burns, the vice president of bp ventures.
Bp Ventures has so far invested over $1 billion in seven regions, including 14 mobility investments.
Service4Charger and Bp have collaborated since 2022 to electrify Aral pulse fleet customers in Germany.
They recently signed a multi-year commercial agreement to expand charging points and hit the thousandth mark and above within the next few years.
References
- bp Ventures, ‘bp invests €7.5 m in EV charging service provider Service4Charger as part of a €10 m Series A funding round’, 28 June 2023, https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-invests-7-5-m-in-ev-charging-service-provider-service4charger-as-part-of-a-10-m-series-a-funding-round.html[↩]
