JET Charge, an EV charging solutions provider, has secured A$72 million (~$45 million) in funding. The funding was led by Mirova, an affiliate of Natixis Investment Managers, through its Mirova Energy Transition Fund 6, along with existing shareholders, including Clean Energy Finance Corporation (managed by Virescent Ventures), RACV, and Kilara Capital.
The company stated that this funding will be used to expand its ‘Charging as a Service’ offering, continue developing its technologies and accelerate deployment in Australia.
“This strategic capital will accelerate the rapid deployment of Charging as a Service, bolstered by the continued development of our in-house technologies, including CORE, our advanced on-site energy management system, and Illuminate, our flagship asset management platform. CaaS removes the cost and complexity of operating an EV charging network, eliminating many of the upfront capital barriers by seamlessly bridging the digital and physical worlds to deliver a reliable EV charging network.”, said Ellen Liang, Co-Founder of JET Charge
Founded in 2012, the company provides charging infrastructure, both hardware and software support, from individual households to highways across regional and metropolitan areas in Australia. According to the company, it has delivered 20,000 chargers and accessories so far and even started its services in New Zealand.
According to Mercom’s 9M and Q3 2024 Funding and M&A Report for Energy Storage and Smart Grid, Venture capital funding for Energy Storage companies in 9M 2024 came to $2.7 billion in 61 deals, a 69% decrease year-over-year compared to $8.6 billion in 68 deals in 9M 2023.
In October, MobilityPlus, a company that provides charging solutions for electric vehicles, secured €40 million (~$43 million) in funding from Suma Capital through its Climate Impact Fund III, an Article 9 fund for European energy transition investments. Previous investors, such as Concentra, also participated in the funding. The funds will be used to expand its EV fleet charging portfolio and grow its charging network in Belgium and France.
