Lisbon-based Powerdot, an operator of electric vehicle (EV) charging points, has successfully raised €165 million in green financing to bolster its network. The funds, sourced from a consortium including ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale, will accelerate the expansion of Powerdot’s EV charging infrastructure across Europe. Alongside this, an uncommitted accordion facility of €60 million is also available.
Earlier reports highlighted Powerdot’s consistent growth trajectory, marked by a €100 million raise five months prior from Arié Group and Antin Infrastructure Partners. The firm’s cumulative funding commitments now exceed €465 million, reflecting strong investor confidence. This latest financing underscores a strategic focus on expanding to 3,100 locations by 2026, enhancing user experience, and increasing team capabilities.
Expansion and Technological Enhancement
The fresh investment will be channeled towards expanding Powerdot’s EV charging point network and improving technological infrastructure. The company plans to set up over 3,100 new locations by 2026. Enhancing user experience and growing the team are also key objectives. The financing aligns with the Green Loan Principles set by the Loan Market Association, indicating Powerdot’s commitment to sustainable and low-carbon mobility.
Powerdot’s CEO, Luís Santiago Pinto, remarked on the significance of the funding to the company’s growth and vision. Pinto emphasized the strategic importance of the financial partners, stating,
“This substantial financing is a testament to our financial partners’ confidence in Powerdot’s vision and operational capabilities. With this funding, we are poised to accelerate our deployment strategy, bringing EV charging solutions to more European locations and supporting a widespread transition to sustainable transportation.”
Partnerships and Market Presence
Founded in 2018 by Luis Santiago Pinto and Jose Sacadura, Powerdot is recognized as one of Europe’s fastest-growing EV charging point operators. The company collaborates with over 1,200 partners across multiple countries including Portugal, Spain, France, and Poland. Key partners include CBRE, Eleclerc, Galp, Accor, and Carrefour. Powerdot operates more than 6,000 charging points in six countries, with plans for further expansion.
Santander played a pivotal role as the sole financial advisor and green financing coordinator for this latest funding round. McKinsey & Co. provided commercial and technical advice, while Clifford Chance and PLMJ served as legal advisors to Powerdot. Gibson Dunn and Morais Leitão supported the lenders, and EY handled financial, tax advisory, and model auditing responsibilities.
The recent funding milestone sets Powerdot on a solid path toward realizing its ambitious goals, driving the adoption of electric vehicles across Europe. The company’s strategic partnerships and adherence to sustainable practices position it favorably within the rapidly evolving EV market. As Powerdot continues to expand, its contribution to reducing carbon emissions and promoting clean energy becomes increasingly significant.