EV Charger Maker Ekoenergetyka Secures $170 Million Loan

Ekoenergetyka, a manufacturer of EV chargers, has secured a loan of PLN 691 million (~$170 million). The loan agreement provides for the possibility of structuring financing in the first year of cooperation under the Sustainability Linked Loan (SLL) formula. Upon meeting certain conditions, the loan amount can also be increased up to PLN 741 million (~$183 million).

Bank Pekao is leading and acting as the agent of the consortium. In the next stage of the transaction, it will collaborate with the company to select co-contractors.

The funding will enable the company to pursue further development, including international expansion across Europe and other planned investments.

“We are pleased to be able to develop our cooperation with one of the leaders of the Polish financial market. Since the beginning of our cooperation, Bank Pekao S.A. has supported the company with uncommon commitment, supported and understood the needs of dynamic development hence in a way somehow natural was the decision to choose this Bank as the leader of the process. Taking into account how much interest the financial market has in the sector of electromobility and new technologies sector, in which we are a leader, we believe that the consortium will attract interest from other leading financial institutions,” stated Barbara Wacht, vice chairman of the board.

Ekoenergetyka’s legal advisor in the loan negotiations was the Rubicon law firm, while the Schoenherr law firm assisted Pekao Bank. Pekao Investment Banking S.A. will additionally advise the company on further syndication.

According to Mercom’s Q1 2024 Funding and M&A report for Storage & Smart Grid. The Smart Grid sector saw $30 million raised in two debt and public market financing deals in Q1 2024. In a YoY comparison, $777 million was raised in four debt and public market financing deals in Q1 2023.

Beam Global, a solar-powered electric vehicle charging and energy storage solutions provider, in March secured a $100 million line of credit from OCI Group, a London-based supply chain solutions specialist.