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Funding led by energy private equity firm Riverstone Holdings accelerates FreeWire s international expansion of its battery-integrated ultrafast EV chargers.
FreeWire Technologies, a leader in electric vehicle (EV) charging and power solutions, has announced a $50 million Series C funding round today, led by Riverstone Holdings (Riverstone), with participation from current shareholders bp ventures, Energy Innovation Capital, TRIREC, and Alumni Ventures Group. The investment by Riverstone, a top energy private equity firm, marks the first private equity investment in FreeWire and highlights the importance of battery-integrated charging technology to meet the rapidly growing demand for EV charging solutions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005937/en/
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FreeWire Secures $50 Million In Series C Funding Round ++
FreeWire Technologies, specialized in battery-integrated ultra-fast chargers, announced a
$50 million Series C funding round, which brings the company s total venture funding to nearly $100 million.
The round was led by Riverstone Holdings (Riverstone), with participation from current shareholders bp ventures, Energy Innovation Capital, TRIREC, and Alumni Ventures Group.
According to the press release, FreeWire intends to significantly scale up its business and expand internationally. So far, the company has deployed over 200 battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. The plan for the next five years (by 2025) is to deploy more than 2,500 units.