Shell makes another investment in XCharge
The Hamburg-bassed charging infrastructure manufacturer XCharge has announced a new investment from Shell. This marks the second investment by Shell Ventures after a successful Series B financing round in 2021. XCharge did not disclose the amount of the new investment. With the latest round of financing, the company wants to push ahead with its expansion plans.
XCharge is planning a global expansion of its battery-integrated product line Net Zero and a new research and development site in Hamburg. In addition, the capital will flow into XCharge’s new production facility in Texas. While information has been confirmed regarding the plant in Texas, not much is known about the planned factory in Germany. Regarding Hamburg, XCharge has only announced that the move will involve the recruitment of qualified engineers and product experts to ensure the highest effectiveness, efficiency and quality in the laboratories. XCharge recently introduced a new 400 kW high capacity charger that allows customers to complete a charging session in just ten minutes. This likely refers to the 420 kW charging point XCharge presented in May.
XCharge was founded in 2015, and has since positioned itself at the forefront of electric vehicle charging technology, specialising in battery-integrated fast charging solutions. With over 40,000 chargers delivered worldwide and an impressive net profit in 2022, XCharge has cemented its position at the front of the industry. Over the next two years, the company now plans to double its workforce.
Simon Hou, CEO of XCharge Group, said: “We are determined to accelerate the transition to clean energy and create a carbon neutral future worldwide. Our new battery-integrated charging station can store solar energy and charge electric vehicles. We believe innovations like this will help the industry reduce emissions and increase profitability.”
pressnetwork.de (in German)