Innogy, a subsidiary of German utility RWE charged with offering EV charging solutions across Europe, is coming to the States. The acquisition of BTCPower will give innogy a full DC product portfolio and access to U.S. production capabilities and know-how.
Most of all, the deal enables innogy to act locally on the North American market. Says Martin Herrmann, COO Retail innogy SE: “By investing in BTCPower, we are expanding our engagement in the US market,” and the investment builds on an existing relationship.
BTCPower will continue to operate as an independent company.
In Europe, innogy has thus far produced around 7,000 networked charging points and will continue to expand with this commission.