Zunder gets fresh capital to advance ultra-rapid charging in Iberia

Zunder, a charging infrastructure company from Spain, announces a €100 million capital injection from French sustainability investor Mirova. Zunder aims to own and operate over 4,000 ultra-fast charging points in Southern Europe by 2025. The money is the first charge to accelerate development.

Mirova’s €100 million are part of the planned investment of over €300 million for the next three years. The company joins earlier backers such as energy and infrastructure investment firm White Summit Capital and Co-Investors. The latest investment round will speed up Zunder’s plan to surpass 4,000 ultrafast charging points across Southern Europe, so Mirova.

“We are delighted and will propose it to our shareholders to welcome Mirova as a shareholder in this deal, reaffirming our vision, strategy, business model and values, paving the way for Zunder’s multi-billion deployment plan over the next decade,” added Zunder CEO Daniel Perez.

Clearly, the company founded in 2017 has ambitions. Regarding the shorter term, Zunder wants to manage over 40,000 charging points through its platform. How many there currently are remains open, though. The company claims it “has quickly established itself as the leading independent EV charging infrastructure operator in the Iberian Peninsula” and operates several charging locations in Spain and Portugal, according to its website. Zunder has recently won its first public tender in France; yet, details such as the number of charge points remain scarce.

Zunder only mentions “exponential growth” throughout 2020 driven by its in-house developed location selection technology and focus on ultra-fast charging.

“Having been involved in the EV charging infrastructure space since 2019, we value Zunder’s positioning, premium quality service, and ambition to become a leading fast-charging network operator across Southern Europe,” commented Witold Marais, Investment Director at Mirova.

Via this initial €100m equity investment, Mirova secures a minority interest in the company, while WSC and Co-Investors remain as majority shareholders.



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