Pluq, an Amsterdam-based firm specializing in electric vehicle (EV) charging solutions, has secured a €50 million credit facility from Swedish investor P Capital Partners. This financial boost comes as part of Pluq’s strategy to promote slower, destination-based charging, a less explored avenue with significant potential. While most entities emphasize fast and public charging, Pluq recognizes the efficiency of semi-public charging. This approach aligns with their goal of reducing strain on electrical grids and making EVs more accessible to a broader audience.
What Does Destination Charging Entail?
Destination Charging involves the installation of charging stations at locations where users spend considerable time, such as hotels, offices, and hospitals. This model uses existing infrastructure to provide an economical and energy-efficient charging solution. It not only reduces installation costs but also creates a revenue stream for property owners through profit-sharing arrangements. Pluq’s CEO, Pieter Zijlema, emphasizes their commitment to making electric driving accessible to all while ensuring the electricity grid remains stable.
How Does Pluq’s Charging-as-a-Service Model Work?
Since its inception in 2019, Pluq has offered a Charging-as-a-Service model that finances, installs, and maintains charging stations at private parking spaces at no cost to the host organization. This service improves visitor satisfaction and promotes a sustainable business image. Pluq assumes all associated costs, allowing businesses to focus on their core activities. Moreover, for each charging station installed, Pluq collaborates with Trees for All to plant a tree, enhancing their sustainability efforts.
In the past, Pluq’s initiatives have highlighted their commitment to facilitating a sustainable future. Their focus on slower charging has been consistent with their belief in its benefits for energy efficiency and grid stability. This latest funding venture represents a significant step in their journey, providing the necessary resources to expand their network further. The partnership with P Capital Partners reinforces their financial strategy of leveraging private credit solutions to meet growth objectives.
P Capital Partners, known for its private credit solutions to European businesses, plays a significant role in sustainable infrastructure development. With over €5 billion invested over two decades, the firm supports businesses from early growth to large-scale infrastructure projects. Their collaboration with Pluq aligns with their mission to enhance businesses’ potential and sustainable profitability.
As Pluq continues its expansion, its approach to EV charging through destination-based solutions offers a viable alternative to conventional fast-charging methods. This model not only benefits property owners financially but also aligns with sustainability goals. As the EV market grows, such diverse charging solutions will be crucial in meeting the demands of both consumers and the environment.
