Ekoenergetyka gets loan to finance European EV charger market

Ekoenergetyka, a leading European manufacturer of electric vehicle chargers, has signed a PLN 741 million ($182 million) loan agreement with Bank Pekao S.A. to finance the company’s further dynamic growth.

Ekoenergetyka will initially receive PLN 691 million of financing, with an additional PLN 50 million upon fulfillment of certain conditions. Bank Pekao is acting as the leader and agent of the consortium, and will select further members in cooperation with the company.

Ekoenergetyka launched a new production line this month, which will improve efficiency and product quality. The company plans to further automate the line, introducing industrial robots for some elements of the production process. The investment is part of a strategic plan to increase production capacity and meet the growing demand for chargers across Europe.

“This financing will provide us with the opportunity for further dynamic development both in the area of international expansion across Europe and for our ambitious investment plans,” said Bartosz Kubik, co-founder and CEO of Ekoenergetyka.

“We are pleased to be able to develop our relationship with one of the leaders of the Polish financial market,” added Barbara Wacht, vice chairman of the board. “Since we began working with Bank Pekao S.A., they have supported us with uncommon commitment, understanding our needs as a growing company, so it was natural to choose them as the leader of the process. Taking into account how much interest the financial market has in the sector of electromobility and new technologies, we are confident that the consortium will attract interest from other leading financial institutions.”

The loan agreement provides for the possibility of structuring the financing in the first year as a Sustainability Linked Loan (SLL), which makes the cost of the loan contingent on meeting targets for sustainability indicators.

“Electromobility is our future, and an important factor in its dynamic development is the emergence of adequate infrastructure,” says Magdalena Zmitrowicz, deputy CEO of Bank Pekao S.A. “We are very pleased that Bank Pekao can contribute to this development by financing a company that has a significant impact on shaping the market for electric vehicle chargers. Importantly, not only the investment objective itself, but also the financing fits into the criteria of sustainable development, as the terms of the loan are linked to the implementation of ESG goals.”

“We are pleased to support such an innovative company as Ekoenergetyka in its international expansion,” saysDieter Lobnig, Pekao’s head of Investment Banking and Real Estate Finance. “We see this as the next step in our relationship and already see opportunities for further joint development.”

Ekoenergetyka, which controls about 20 percent of the market for urban bus charging stations in Europe, is now focused on increasing its market share in electric car and truck charging. The company recently launched new charging stations, the Axon Easy 400kW and Axon Side 360kW with SAT400 satellites, designed for the hubs of major European charge point operators (CPOs).