Electric vehicle charging expert, DRIVECO opens its capital to Mirova

Published on 11/24/2020 Press releases

Electric and solar vehicle charging expert, DRIVECO has just raised a significant sum of several million euros from MIROVA, the affiliate of Natixis Investment Managers dedicated to sustainable investment. Mirova has invested through its Mirova-Eurofideme 4 fund1, one of Europe’s main investment funds dedicated to renewable energy and energy transition, making it a major shareholder of DRIVECO.

“Raising this capital,” explains Ion Leahu-Aluas, Managing Director of DRIVECO, “gives us the means to ensure our long-term development by strengthening our financial footing. This partnership with one of the leading players in the financing of energy transition underscores our viable approach to electric mobility.”

In real terms, this action will allow DRIVECO to intensify its commercial activity in this rapidly growing market and continue to invest in R&D, innovation being an integral part of the business, while exploring different opportunities for growth.

electric vehicle

As for Mirova, Witold Marais, Investment Manager, observes that “the electric vehicle charging infrastructure market is experiencing strong growth, and will continue to do so over the coming years, with projections indicating a twenty-fold increase in the number of charging points in France alone by 2030. With its premium positioning, integrated approach and the technical and environmental quality of its products, DRIVECO is particularly well placed to take advantage of this upward trend and establish itself as a leading player in the market. The company has tripled its turnover each year for the past three years and developed exclusive partnerships in key areas.”

Raphael Lance, Director of Mirova’s Energy Transition Infrastructures Funds adds: “We are delighted to be able to support DRIVECO in this new phase of their development as they continue to expand in France and abroad.”

In France and overseas

Founded in 2010 in France, DRIVECO’s clients include many big brands, such as Leroy Merlin, Decathlon, Norauto, Novotel, Leclerc etc. as well as big names in automobile distribution such as Groupe Maurin, Dugardin, Lempereur, but also numerous local communities. On the international scene, the company is present in Belgium and Switzerland.

Its success is built on universal recharging solutions, compatible with all models of electric vehicle and a turnkey service to accompany its clients at all stages of the project. A pioneer in solar mobility, DRIVECO also offers a range of 100% solar-powered recharging stations, combining charging points, solar energy and intelligent real-time energy management.

A market propelled by energy transition

At the heart of energy transition policies, the recharging infrastructure market is destined for rapid and sustainable growth. Thus, in the context of the recovery plan, the French government has set a target of establishing 100,000 public recharging points by the end of 2021 and has increased installation subsidies. Moreover, the framework law on mobility, published in December 2019, has made the provision of recharging points in car parks with more than 10 spaces obligatory.

[1] MIROVA EUROFIDEME 4 is a Société de Libre Partenariat (SLP) governed by French law, closed to new investment. Mirova is the management company. This fund is not subject to approval by a supervisory authority.