The Mobility House closes €50 million funding round
The Mobility House has secured an investment amount of around 50 million euros for its technology development and expansion in Europe, North America and Asia. The now-completed internal financing round is supported by all existing investors.
The approximately 50 million euros from the Series C financing will be spent on expanding The Mobility House’s market position in the areas of smart charging and vehicle-to-grid (V2G), according to the company. As this was an internal financing round with existing investors, there are no new backers.
Lead investor was Mercuria, co-leads were Ventura Capital and the Green Gateway Fund. Other strategic investors in the round were Mercedes-Benz, Alliance Venture, Mitsui and SP Group.
The core of TMH’s smart-charging ecosystem is the ChargePilot software and the ‘EV Aggregation’ and ‘FlexibilityTrading’ platforms. In combination, mobile and stationary batteries of electric vehicles can be transformed into buffer storage or flexibility potentials for the global energy transition. In other words, electric cars can use their batteries to buffer renewable electricity and stabilise the energy system. With the connection to the European power exchange EPEX SPOT SE, which took place in August, TMH says it has taken “another step towards the intelligent networking of the mobility and electricity market”.
“We are delighted about the trust that our existing investors have placed in us,” says Robert Hienz, CEO of The Mobility House. “In recent months, it has become increasingly clear: the market for smart charging and V2G is there and developing rapidly. It also has incredible economic and ecological potential for us to tap into. We have the technology ready to cater to and significantly shape this market, and are already well-equipped for the future continued development of our products.”
This assessment is also shared – unsurprisingly – by Jean François Steels, Vice President Energy Transition at lead investor Mercuria. “As we embark on our energy transition journey, we see this investment as a smart way to link electric mobility with renewable energy, two fast-growing sectors,” says Steels. “This solution is increasing the flexibility of energy markets, which need to accommodate the growing new and intermittent renewable sources of power supply.”