Spain invests in Wallbox Chargers

Spanish charging solutions provider Wallbox Chargers has raised 15 million US dollars in fresh capital through the issuance of new shares. More than nine million dollars of this funding comes from the Spanish government.

Specifically, the transaction involves two separate private placements of ordinary shares, according to Wallbox Chargers. The first is a government investment of over nine million dollars, made via the Spanish Society for Technological Transformation (SETT). SETT is a state-owned enterprise under the Ministry for Digital Transformation and Public Administration, tasked with supporting the “financing and promoting advanced and transformative technologies”.

The investment in Wallbox Chargers forms part of the Spanish government’s ‘Next Tech’ initiative, which aims to improve access to finance in strategic sectors of the national economy – and to attract further private capital. In the case of Wallbox Chargers, this has already proven successful: existing investors contributed more than five million dollars in a second private placement, bringing total proceeds from the share issue to 15 million dollars, or just over 13 million euros.

According to the company, participating investors include Iberdrola subsidiary Inversiones Financieras Perseo, Orilla Asset Management, and Wallbox CEO and co-founder Enric Asunción. The private investment had been announced back in February but was formally completed in early June.

Wallbox says it will use the fresh funds to “accelerate the global adoption of its EV charging solutions, advance the digitalization of its solutions, and drive the development of cutting-edge technologies for smarter, more efficient energy management.” The company intends to continue pursuing its long-term strategy and growth plans with the backing of public sector support and renewed commitment from strategic investors.

“The SETT’s support reflects its confidence in our long-term vision and underscores Spain’s strategic role in the global energy transition,” said Enric Asunción, CEO and co-founder of Wallbox. “This investment, along with the continued support from our existing shareholders, strengthens our commitment to developing advanced EV charging and energy management solutions while driving long-term growth.”

businesswire.com