Hong Kong, 27 April 2022 – Freewire, the US-based battery-integrated EV charging solution provider announced that it has raised US$125 million in a Series D funding round. Investors of the round include BlackRock Financial Management, Inc., bp ventures, Riverstone Holdings, Daishin Private Equity amongst others. GLy New Mobility Fund joined the round to support Freewire’s drive to accelerate EV adoption and provide ultrafast charging solutions to customers across various markets.
Freewire will use the funds to accelerate commercial deployments of its battery-integrated ultrafast EV charging technology and increase manufacturing capacity to meet growing global customer demand, including high priority markets such as the UK, Canada, Japan, and Australia/New Zealand. Proceeds will also be used to expand its talent pool and invest in R&D to drive continued innovation of its product roadmap and unique energy management platform.
“FreeWire is delighted to have GLy Capital’s New Mobility Fund as a participant in our latest round. We look forward to working with GLy and exploring commercialization opportunities.”, said Michael Beer, CFO of Freewire.
“Freewire’s battery-integrated offering will facilitate the growth in EV adoption rates. We are excited to work with Freewire’s team and support their expansion”, said Hrvoje Krkalo, CEO of GLy Capital.
Founded in 2014, FreeWire Technologies is the leading manufacturer of battery-integrated EV charging stations and power solutions in the U.S. The Company’s fully integrated Boost Charger plugs into existing and ubiquitous low-voltage utility service and delivers high-power charging in areas that typically require extensive grid upgrades. The Boost Charger’s combination of proprietary battery and power conversion technology enables ultrafast EV charging at all locations, freeing customers from the costs of providing fast charging using power directly from the electric grid. FreeWire has deployed battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations across the U.S. and has partnered with bp pulse to deploy Boost Charger in its operations across the UK.
Visit Freewire to learn more.
About GLy New Mobility Fund
The GLy New Mobility Fund is a global mid-to-late-stage private equity fund backed by the Zhejiang Geely Group. The fund is managed by GLy Capital Management, which leverages its eco-system, industry know-how and strong reach to find investable companies redefining the transport industry. The fund’s areas of focus are electrification, smart cars, smart cities, mobility as a service and materials. The fund provides its portfolio companies with global market access, industry insight, and commercial advantage and offers investors a positive impact investment with the potential for attractive returns.
About GLy Capital Management Limited
GLy Capital Management Limited is a Hong Kong based investment management entity holding SFC type 1, 4 and 9 licenses. The Company is majority owned by Zhejiang Geely Holding Group.
For further information, visit: www.glycm.com.